CONFIDENTIAL OFFERING MEMORANDUM 120 Ralph McGill Blvd. , GA 30312 CONFIDENTIALITY DISCLAIMER AND EXCLUSIVE AGENCY MEMORANDUM

This Offering Memorandum has been prepared by Newmark Knight Frank (“NKF”) Although additional material, which may include engineering, environmental, or other (“Advisor”), on behalf of the Seller and is confidential and furnished to prospective reports, may be provided to certain prospective purchasers as appropriate, such parties purchasers of the direct or indirect ownership in certain Property (“Property”). This should confer with their own engineering and environmental experts, counsel, Offering Memorandum is intended solely to assist prospective purchasers in their accountants, and other advisors and should not rely upon such material provided by evaluation of the Property. It is not to be used for any other purpose or made available to Seller or Advisors. any other person without the prior written consent of the Advisors. Neither Seller nor Advisors nor any of their respective officers, advisors, agents, This Offering Memorandum is subject to errors, omissions, changes or withdrawal without shareholders or principals has made or will make any representation or warranties, notice and does not constitute a recommendation or endorsement as to the value of the express or implied, as to the accuracy or completeness of the Offering Memorandum or Property by Seller/Advisors and their sources. Any financial projections or market comps any of its contents, and no legal commitment or obligation shall arise by reason of the are provided as a reference and are based on assumptions made by Seller/Advisors and Offering Memorandum or the contents. Analysis and verification of the information their sources. Prospective purchasers should make their own projections, research their contained in the Offering Memorandum is solely the responsibility of the prospective own comps, and reach their own conclusions of value. Certain portions of this Offering purchaser. Memorandum merely summarize or outline property information and are not intended to be complete descriptions. The Seller expressly reserves the right, in its sole discretion, to reject any offer to purchase the Property or to terminate any negotiations with any party at any time, with or This Offering Memorandum was prepared on the basis of information available to the without notice. The Seller shall have no legal commitment or obligation to any prospective Seller and Advisors in connection with the sale of the Property. It contains pertinent purchaser unless and until a written Purchase Agreement has been fully executed and information about the Property and the surrounding areas of each but does not contain all delivered and any and all conditions to the Seller’s obligations thereunder have been fully the information necessary for a complete evaluation of the Property. Any projected cash satisfied or waived. flow and other financial information contained herein is for general reference only. The Seller is responsible for any compensation due its Advisors in connection with the Although the information contained in this Offering Memorandum is believed to be sale of the Property. No other party, including the Seller’s Advisors, is authorized to make accurate and reliable, neither the Seller nor its Advisors guarantee its accuracy or any representation or agreement on behalf of the Seller. This Memorandum remains the completeness. Because of the foregoing and because the Property will be sold on an “as- property of the Seller and its Advisors and may be used only by parties approved by the is basis”, prospective purchasers should make their own independent assessments, Seller and its Advisors. investigations, and projections regarding the Property. CONTACT INFORMATION TABLE OF CONTENTS

John Cobb 01 EXECUTIVE SUMMARY Managing Director Offering Overview Newmark Knight Frank Direct: 404-806-2572 Property Highlights [email protected]

02 PROPERTY DETAILS Edward Tyler Fish Property Map & Aerial Associate Property Details Newmark Knight Frank Direct: 770-552-2460 Property Survey [email protected] Building Drawings Property Photos

Todd Perman, CCIM 03 MARKET OVERVIEW Executive Managing Director Snapshot of Neighborhood Newmark Knight Frank Neighborhood Demographics Location Overview The “Stitch” Market Activity Economic Drivers

04 Comparable Transactions 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 4

OFFERING OVERVIEW

120 Ralph McGill Blvd., Unit 3 Newmark Knight Frank is pleased to present this opportunity to acquire a Property Address Atlanta, GA 30308 23,026 sqft. two story owner-user/investment office building in downtown Parcel ID 14-005000151886 Atlanta, (“The Offering”, or “The Building”). The Building is located just Northeast of the Central Business District, easily accessible via Interstate Property Type Commercial Condominium (1 of 3 Units) SPI-1 SA3 (Special Public Interest District, 75/85, as well as the nearby Marta Civic Station. Zoning Subarea 3 SoNo Commercial) Year Built 1974 The Building was renovated in 2013 with modern finishes and style in order to become a place of worship for Renovation Church, who will be Year Remodeled 2013 exiting upon sale. The first floor contains classroom space and the Property Size 23,026 Square Feet sanctuary is located on the second floor, along with a foyer and office Acres 0.301 space. Prior to the current use, the Building was used as a daycare. Stories 2 The Offering is priced at $2.95 Million and all questions and offers should Ceiling Height 14 Feet be directed to John Cobb, [email protected], 404-806-2572 or Tyler Fish, [email protected], 770-552-2460. Offering Price $2.95 Million 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 5

OFFERING HIGHLIGHTS

 Premier Facility – The Building was remodeled in 2009 and then again in 2013 with modern fixtures, finishes, and coverings and is in above average condition.

 Strategic Location – Located just North of the , with unmatched access to I-75, I-85, I-20, and two MARTA stations within 3 blocks, The Building is adjacent to the proposed 14 acre “Stitch” capping of I-75/I-85 and one block west of the Redevelopment site.

 Immediate Occupancy- Upon purchase the buyer may take possession of The Building and move in immediately.

 Parking- The Building has dedicated covered parking in the common garage along with available on-street parking directly in front of the Building. 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 6

PROPERTY MAP & AERIAL

Ralph McGill BLVD 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 7

PROPERTY DETAILS

Footings Concrete Foundation Walls Concrete Sub-Floor Slab Construction Framing Steel Frame Exterior Wall Concrete and EIFS Material Built Up – Rubber Roof Construction Membrane Aluminum frame, insulated Windows glass Aluminum frame glass Exterior Doors storefront entrance; metal personnel doors Heating System Central Forced Heat Cooling System Central Electric Cooling Sprinkler System Wet One 5 fixture restroom and one 6 fixture restroom on the first floor, two 5 fixture Plumbing restrooms on the second floor, two 2 fixture restrooms on the second floor break room

Open/loft-style ceiling, and Ceilings acoustical tile 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 8

PROPERTY SURVEY 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 9

BUILDING DRAWINGS – 1ST FLOOR

Open Youth Room Office Bath Entry

Bath Open Office Outdoor Playground Office 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 10

BUILDING DRAWINGS – 2ND FLOOR

INTERIOR 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 13

MARKET OVERVIEW ATLANTA, GA

Geographically located in the Southeastern United States, Atlanta is Atlanta's rapid economic and population growth has generated the nation’s 9th largest MSA. Atlanta’s proximity and access to other investments in infrastructure. Three proposed MARTA expansion metropolitan areas enhance its position as the primary commerce, projects - Clifton Corridor, 1-20 East, and GA 400 - could infuse $5.2B transportation, telecommunications, cultural, and financial center of into the region's overall economy. The transit expansions may also the region. The Atlanta region has taken full advantage of its equate to 45,000 new jobs and $116M in additional annual wages by geographical location in terms of accessibility via its extensive 2040. highway system, as well as continued development of the Hartsfield- Jackson International Airport. With rapid growth anticipated over the The Atlanta BeltLine is the most comprehensive revitalization effort next 20 years, transportation will take an even larger role in shaping ever undertaken in the city of Atlanta and among the largest, most the development of the region. Known historically for expansive wide-ranging urban redevelopment and mobility projects currently sprawl into the suburbs, Atlanta’s core will continue its recent growth underway in the United States. This sustainable project is linking a trend, including high-density, mixed-use developments and residential network of public parks, multi-use trails and transit by reusing 22 high-rises. miles of historic railroad corridors encircling downtown and interconnecting 45 neighborhoods. The BeltLine will add light rail Metro Atlanta has ranked among the top 5 metro areas in the nation in transit that will connect with MARTA and the new Peachtree net new job growth for the last decade, although job growth following Streetcar. New multi-use trails will follow the 22- mile transit loop, and the recent economic recession has been slow. It is home to the 11 miles of additional trails will extend into surrounding headquarters of 26 Fortune 500 and 1,000 companies, including neighborhoods. Conceived by a Tech graduate student, the United Parcel Service, Coca-Cola Company, Georgia-Pacific, The BeltLine is creating a new framework for sustainable growth in the Home Depot, Delta Air Lines, SunTrust Banks, Newell Rubbermaid, region and revitalizing under-performing areas of the city. The Equifax, Wendy’s/Arby’s Group, and AGL Resources. Long reputed BeltLine has already significantly increased values of real estate for its rapid growth, the 10-county Atlanta regional population reached parcels along its path. 4,401,800 in 2016, up from 4,332,600 in 2015 and representing the largest single-year increase since 2007-2008. The region has added an average of 71,000 new residents annually since 1990. Gwinnett County led the past year's growth with 17,300 new residents. The city of Atlanta, too, has experienced impressive growth. Fueled by a boom in multifamily housing, the city added 7,900 new residents between 2015 and 2016, its largest single-year increase since 2007-2008. 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 14

SNAPSHOT OF NEIGHBORHOOD

8

North AVE NE

4

3 2 5 7

9

6 1

Ralph McGill BLVD

1 Atlanta Civic Center 3 The Byron 5 Baltimore Row 7 Rosser Building Hotel 9 477, & 489-495 500k SqFt in retail & office 65 housing units 15 housing units 175 rooms Peachtree Rd. NE & 650 housing units 7,500 SqFt Retail (renovation) (proposed) 496 Courtland St possible grocery anchor 50,000 SqFt of office +/- 1.8 Acres (repurpose) Redevelopement 2 Mellon Lofts 4 Crown Plaza Hotel 6 Medical Arts Building 8 lilli Midtown 16,241 SqFt of office/retail 360 rooms 89,000 SqFt 150 housing units (renovation) (repurpose) 4,000 SqFt of retail 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 15

NEIGHBORHOOD DEMOGRAPHICS

30308 30312 30309 30307 30306 30318 30313 Year 2011 2016 +/- Total Population Change 14,913 2,123 17,036 4,687 1,865 1,503 357 -5,744 132 Total Household Change 8,986 1,366 10,352 2,021 222 1,185 -38 351 -284

Change in Household Income

$50,000 to $74,999 1,508 432 1,940 465 31 -218 -384 505 188 $75,000 to $99,999 920 546 1,466 73 7 321 -75 264 29 $100,000 to $149,999 1,060 103 1,163 -51 614 374 90 116 -124 $150.000 or More 1,020 190 1,210 376 58 170 384 -15 38 Total 1,271 863 710 647 15 870 131

The property is located in the 30308 zip code and in the last 5 years, this zip code has seen the highest increase in wage earners earning $50,000 or more among the surrounding contiguous zip codes (30306, 30307, 30309, 30312, 30313,& 30318). The 30308 zip code has also seen a 14.2% rise in population over the last five years, more than 5.5% higher than the next highest zip code and has the second highest increase in households and population among the zip codes. (The 30303 zip code had a 46% rise in population due to the increase in University enrollment and off campus housing and was 3rd in household increases, thus it was not included in the comparison due to the demographic). Between 2000 and 2022, the 30308 zip code is expected to nearly double the amount of households, more than any of the other contiguous zip codes. 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 16

LOCATION OVERVIEW

The SoNo Neighborhood is an Urban/Infill area with a mix of Retail, Multifamily, and Office uses. Notable businesses and properties in the area include W. Atlanta Downtown, Twelve Centennial, Basilica of the Sacred Heart of Jesus, SunTrust Plaza, Hyatt Regency, Atlanta Marriot Marquis, Hilton Atlanta, Aloft Atlanta Downtown, Georgia Power Company (offices), Century Skyline Apartments, The Prato Midtown Apartments, and Hospital Midtown, among others. The Civic Center Civic Center MARTA station, as well as numerous MARTA bus lines, serve the area.

The Atlanta Civic Center is located one block east of The Offering. The civic center is a theater that seats approximately 4,600, and it was built in 1967. At the end of 2015, an announcement was made that a developer would acquire the 19-acre site for construction of 250,000 square feet of office space, 225,000 square feet of retail space, and 656 housing units (divided between apartments, condominiums, and townhomes). Included in the retail portion will be an expected grocery store. In November, 2017 a press conference was made announcing the sale of the property to Atlanta Housing Authority who has partnered with the developer.

The Offering is located less than 1 mile east of the , Georgia World Congress Center, and the World of Coca-Cola. Mercedes- Benz stadium is located just south of the Georgia World Congress Center, approximately 1 mile from the subject. 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 17

THE “STITCH” - POTENTIAL DEVELOPMENT

In 2016, /Atlanta Downtown Improvement District (CAP/ADID) released an initial concept design study for a new ¾-mile platform that spans the I- 120 Ralph McGill 75/I-85 Downtown Connector Blvd and ‘stitches’ Downtown back together. The concept, appropriately called “The Stitch,” proposes to reclaim approximately 14 acres of new urban greenspace atop a new platform structure spanning the Downtown Connector from the Civic Center MARTA Center at West Peachtree Street to Piedmont Avenue. 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 18

THE “STITCH” - POTENTIAL DEVELOPMENT

“The non-profit Central Atlanta Progress is now in the midst of a one-year feasibility study to find out 120 Ralph McGill if the ambition can become a reality….Just a few miles Blvd north of “The Stitch”, plans are moving forward to build a park on top of GA-400, right in the heart of . That idea has been kicked around for the last two years, but this summer planners wrapped up their year long feasibility study and found it is perfectly possible to build on top of the roadway.”

“As soon as this upcoming January permits are filed, engineering and designing will start, and by 2020 officials expect a ground- breaking...or, we guess an air-breaking… It's been done before in , at Klyde Warren Park, where estimates say the park has spurred a billion dollars in development.” 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 19

MARKET ACTIVITY - ATLANTA, GA

Atlanta is advancing toward a new cycle of economic prosperity and position thanks to a multitude of major corporate commitments by firms such as State Farm, Mercedes-Benz, Porsche, Kaiser Permanente, KPMG, Google, WorldPay, GE. NCR, Honeywell, and Anthem. Dramatic developments are underway in healthcare and technology sectors. Film making has become big business in Georgia and Atlanta. Emerging technologies and the infrastructure to support start-up companies are another bright spot. Atlanta is now a leader in mobile technology, supply chain management, internet security, healthcare IT, and payments processing, all growth industries. Technical and professional services will continue to be key employment generators, and the rebound in these high- wage industries is driving above-average income growth.

Atlanta's legendary diverse and inherently resilient economic base is its ongoing hallmark, and it ranks among the country's Top 5 cities in Fortune 500 HQ. Twenty-five metro Atlanta headquartered firms are among America's largest corporations qualifying as the 2016 FORTUNE 1000, of which 16 rank among the 2016 FORTUNE 500: The Home Depot, UPS, The Coca-Cola Company, Delta Air Lines, The Southern Company, Genuine Parts Company, First Data, HD Supply Holdings, Inc., Veritiv, SunTrust Banks, AGCO Corporation, Asbury Automotive, Coca-Cola European Partners, NCR Corporation, Pulte Group.

Georgia's bioscience and health IT industries are responsible for almost $30 billion in annual reported revenue and 120,000 employees. The state's health IT industry already leads the nation with 200+ companies, 15,000 employed, and S4B+ in annual reported revenue. Employing more than 100,000 and with an annual economic impact of $23B, the state's bioscience industry is also finely rooted. As Georgia's economic center, Atlanta is generating thousands of jobs annually in bioscience and health IT. Powered by the strength of more than 13,000 technology companies, Atlanta has a long history of success in attracting and growing top high-tech firms and stands as one of the country's most significant and innovative technology hubs. Along with its world-class universities, the ability to develop a critical mass of companies in the field has underpinned Atlanta's status as a true national and global center of technology business. 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 20

ECONOMIC DRIVERS IN ATLANTA, GA

• GENERAL MOTORS INC. plans to add 200-400 jobs one year • HONEYWELL announced in 2016 plans to add an 800-job, $20M after opening its 1,000-employee IT center in North Fulton County. software development center and division HQ in Midtown's 715 • FINN has reached capacity at its new 228,000 SF IT center in Peachtree. Roswell and is scouting North Fulton for additional space. • G.E. has picked Buckhead for their first new $3M global digital • STATEARM F is the centerpiece of Central Perimeter's new 17- operations center that will create 400 jobs. The center is part of acre 2.2M SF mixed-use campus, representing one of Atlanta's firm's Industrial Internet initiative and will support GE's Global largest corporate developments ever. State Farm will add 3,000 Infrastructure operations. jobs there over the next 10 years, eventually housing about 8,000. • GOOGLE's new 1.2M SF data center repair facility in south metro • KAISER PERMANENTE is developing 150,000 SF, $20M Atlanta opened in 2015 at Fairburn logistics Center, a 1.2M SF “information technology campus” in Midtown that will create 900+ cross-dock facility launched in 2014 by TPAGroup. jobs by 2019, bringing firm's total GA presence to 4,000+ • KEURIG GREEN MOUNTAIN, INC.'s new $337M 585,000 SF employees and physicians. Douglas County plant created 550 new jobs. • PORSCHE CARS NORTH AMERICA, INC. opened new 28-acre, • SHIRE PHARMACEUTICALS' (former Baxter) new $ 1.2B $100M U.S. HQ in 2015 adjacent to Hartsfield-Jackson Airport, manufacturing plant in Stanton Springs in Newton County is where it employs 400 (100 new to GA). nearing completion, and the company is almost halfway through its • MERCEDES-BENZ USA is creating 1,000 jobs with its HQ move goal of hiring 1,600 workers. to Atlanta from NJ. Their new 250,000 SF office within the 12-acre • THENTEGRALI GROUP is developing the 165-acre "Assembly' HQ Sandy Springs campus on former 70-acre Glenridge Hall mini-city (fka GM Doraville plant), where 10M SF of mixed-use estate will open in 2017. space is planned. • WORLDPAY, a leading global provider of payment technology and • JACOBY, along with MBS3, the operator of a large production services, launched its new $10M office in 2015, campus near LA, is planning redevelopment of 1 OD-acre where 1,200 are employed. OFS/Atlanta Media Campus site in Gwinnett County. Plans for the • NCR will expand its newly-developing 1.5M SF Midtown HQ at 1.2M SF mixed-use complex include production facilities with Centergy North at Technology Square. The expansion will involve seven sound stages. a $145M second tower and 1,800 new tech jobs over five years, • ALCON LABORATORIES is investing $275M and creating 300+ on top of 3,600 jobs NCR is bringing to Midtown. Campus will be jobs at its Johns Creek campus. Atlanta beat out Singapore and ready in late 2017/early 2018. Germany for the expansion. • UNITED PARCEL SERVICE INC. (UPS) will invest $400M and create 1,250 jobs at a new 1.3M SF logistics hub, the firm's 3rd largest such facility in the country, near Charlie-Brown Airport on the city's west side. 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 21

COMPARABLES USED IN VALUATION

Comp #1 #2 #3

2

181 14th St NE 1760 Peachtree St. NW 83 Walton St NW Address 1 Atlanta, GA 30309 Atlanta, GA 30309 Atlanta, GA 30303

Size 29,153 15,760 21,756

Built 1991 1989 1916

Renovated - 2006 2008

Sale Price $5,200,000 $2,300,000 $3,200,000

3 Sale Date 9/3/2015 10/7/2014 12/1/2017

PSF $178 $146 $147

Ownership Fee Simple Fee Simple Fee Simple John Cobb Edward Tyler Fish Todd Perman, CCIM Managing Director Associate Executive Managing Director Newmark Knight Frank Newmark Knight Frank Newmark Knight Frank Direct: 404-806-2515 Direct: 770-552-2460 [email protected] [email protected]