20 Year Ground Lease CONFIDENTIALITY and DISCLAIMER the Information Contained in the Following Marketing Brochure Is Proprietary and Strictly Confidential

OFFERING MEMORANDUM

TOLEDO OHIO

20 Year Ground Lease CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. SPECIAL COVID-19 NOTICE All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making. NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. Livonia Lake St Clair Battle Creek Westland 94 94 Dearborn Ann Arbor Albion Taylor 69 12 Erie 275 Clinton 23 Ontario LAKE ERIE Lake City Michigan Rockwood Coldwater Dundee Conneaut 127 223 79 Adrian Ashtabula Hudson Monroe 12 20 TABLE OF CONTENTS 6 Lambertville Sylvania Painesville 90 80 20 20 Meadville Euclid Lagrange TOLEDO Kirtland 6 20A Waterville CLEVELAND 322 Bryan Cleveland Heights 19 Lorain Investment Summary...... 5 6 75 Sandusky Maumee R. 6 Greenville Garrett 127 6 Parma 24 Bowling Green 80 Elyria 422 Warren 33 Deﬁance 23 20 Investment Highlights...... 7 Newton Falls Norwalk 80 Medina 24 250 30 Paulding Fostoria Youngstown 79

Willard 224 Aerial Maps...... 11 & 12Fort Wayne Findlay AKRON 224 Struthers 224 77 69 71 75 Ashland 76 62 Salem Tenant Summary...... 14 30 Canton Van Wert Decatur 30 30 Beaver Falls Lima Mansﬁeld Berne Kenton

Location Map...... 16 Marion 33 Millersburg 42 71 Dover Carnot-Moon St. Marys 68 Portland 23 30 Location Overview...... 18 Mount Vernon 127 Steubenville Bellefontaine Carnegie Indiana 36 Sidney Delaware 35 33 36 27 Location Highlights...... 20 62 Coshocton 22 77 250 Washington Piqua Westerville Muncie Worthington St. Clairsville 36 Troy Cambridge Demographics...... 21 Upper Arlington COLUMBUS 70 75 19 New Castle Moundsville 40 70 Zanesville Vandalia Springﬁeld Grove City 79 Richmond DAYTON Lancaster 71 62 Rushville Kettering 22 250 19 Circleville Oxford Franklin Glouster OHIO RIVER 35 Fairmont 52 Great Miami R. 33 Marietta Hamilton 75 42 Wilmington 68 Chillicothe Athens Vienna Clarksburg 74 Parkersburg 50 421 Forest Park Reading 50 50 23 19 Philippi Hillsboro Greendale Weston 119 50 Scioto R. Jackson Pomeroy CINCINNATI Ravenswood Rising Sun Florence OHIO 35 33 33 19 OHIO RIVER 27 Kanawha R. Spencer Licking River New Boston Madison 71 Portsmouth Ripley West Virginia OHIO RIVER Falmouth 52 OHIO RIVER 119 77 CarrolltonKentucky R. Maysville Williamstown 79 25 Ironton Pocatalico 127 62 19 42 421 68 Flemingsburg Ashland Eminence Cynthiana 60 Huntington CHARLESTON 219 75 Kentucky 64 Olive Hill Shelbyville Georgetown 460 Richwood 64 Licking River Morehead 23 119 27 Montgomery 60 FRANKFORT Lexington 52 Fayetteville

INVESTMENT SUMMARY

3301 SECOR RD, TOLEDO, OH 43606 PRICE: $2,988,505 CAP: 4.35% RENT: $130,000

OVERVIEW ANNUALIZED OPERATING DATA

Price $2,988,505 Lease Term Annual Rent 3,028 SF Gross Leasable Area (GLA) 3/2020 - 3/2025 $130,000 0.629 Acres Lot Size (approx.) 4/2025 - 3/2030 $143,000 $130,000 Net Operating Income 4/2030 - 3/2035 $157,300 4.35% CAP Rate 4/2035 - 3/2040 $173,030 2020 Year Built 4/2040 - 3/2045 (Option 1) $190,333

4/2045 - 3/2050 (Option 2) $209,366

$230,302 LEASE ABSTRACT 4/2050 - 3/2055 (Option 3) 4/2055 - 3/2060 (Option 4) $253,333 Lease Type NNN

Lease Term 20 Years

Lease Start 10/13/2019

Lease Expiration 3/31/2040

Renewal Options 4x5

Increases 10% Rent Bumps Every 5 Yrs Inc’d Option Periods

Landlord responsibilities Gen Liab Insurance

5 6 INVESTMENT HIGHLIGHTS NNN

New 20 Year Ground Lease Features excellent visibility: This newly 2020 constructed Chase Daily traffic counts exceed Bank Ground Lease offers a passive investor the opportunity to acquire a 22,031 vehicles per day 20-year NNN Ground Lease with four passing directly in 5-year options. The site has a drive thru, front of the site and offers 10% rent escalations every 5-years including option periods which surely hedges against inflation.

The rent commenced March 10, 2020 and the last day of the base term is 3/31/2040.

The Lease is a NNN ground lease with minimal landlord responsibility of only having to maintain general liability insurance, all other maintenance, insurance, and tax related expenses are tenant’s responsibility Strong population density High quality of life This is the only Chase Bank with over 250,537 residents with skilled & in an 11-mile radius from within a 5-mile radius trained workforce this new site, cornering the from the site regional market

7 8 INVESTMENT HIGHLIGHTS

t New 2020 ground lease construction, offering new 20-year NNN lease

t Densely populated growing region

t Site has a drive thru, and is the only Chase Bank in the immediate region

t Chase Bank carries an S&P A+ rating, and is traded on the NYSE:JPM

PLANNED 245,901 $60,544 DEVELOPMENT TOTAL AVERAGE POPULATION HOUSEHOLD WITHIN 5-MILE INCOME WITHIN RADIUS 5-MILE RADIUS

22,031 VPD - SECOR RD PLANNED DEVELOPMENT 21,555 VPD - CENTRAL AVE W

9 10 Mercy Health - St. Anne Hospital

CENTRAL AVE W – 21,555 VPD

Westgate Storage

University Of Toledo Medical Neurology SECOR RD – 22,031 VPD

Toledo Hospital

Ottawa Park Golf Course

Old Orchard McDonald’s Elementary School tm 11 SECOR RD – 22,031 VPD

McDonald’s

CENTRAL AVE

12 13 CHASE BANK TENANT SUMMARY

CHASE BANK JPMorgan Chase Bank N.A. bears a Standard & Poor’s A+ rating NEW YORK CITY, NY JPMorgan Chase Bank doing business as Chase Bank is a national HEADQUARTERS Association that provides various banking and other financial services to corporate, institutional, and governmental clients in the United States and internationally. It offers noninterest-bearing deposits and interest- JPMORGAN bearing deposits. The company also provides consumer loans, such 256,981 as residential mortgages, home equity loans and lines of credit, auto CHASE & CO. PARENT COMPANY 2019 EMPLOYEES loans, business banking loans, and student and other loans, including home equity loans secured by junior liens, prime mortgage loans, and payment option loans. In addition, it offers credit card loans and wholesale loans to various customers, such as corporate and institutional S&P: A+ $2.74 T clients, and high-net-worth individuals, as well as investment banking, CREDIT RATING 2019 ASSETS financial transactions processing, and asset management services. The company was founded in 2000 and is based in New York, New York. JPMorgan Chase Bank, National Association operates as a subsidiary of JPMorgan Chase & Co. $115.6 B $36.43 B

2019 REVENUE 2019 NET INCOME

WWW.JPMORGANCHASE.COM

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TOLEDO, OHIO Toledo is a beautiful city on the western tip of Lake Erie in Ohio. It is Toledo has taken various initiatives for economic development. known as “The Glass Capital of the World” due to the city’s long history The city was ranked as third in the nation among mid-sized cities of innovation in the glass industry. Toledo is in proximity to Detroit, for economic development from Site Selection Magazine. Toledo’s Cleveland, and Columbus, and within an 8-hour drive to over 60% of economic sector benefits from the city’s great location. Downtown the North American Population. The I-75, I-475, and I-280 in Toledo Toledo is minutes away from the Toledo Express Airport, making make travel to surrounding cities easy and accessible for everyone. shipping service easy for businesses in the area. The city also serves Whether you are just passing through the city or considering beginning as a hub and main artery for various large railroad-based intermodal your next business venture here, the city’s beautiful community and system including Norfolk & Southern and CSX. Toledo is also located endless attractions make it the perfect place to ensure growth for along the Southern Shore of Lake Erie and Great Lakes, which serve the future. as 1/6th of the world’s freshwater supply. Toledo’s Department of Economic Development focuses on attracting new businesses as Toledo is the perfect place for art lovers and nature lovers to explore. well as retaining and growing their existing businesses. The city’s The Toledo Museum of Art is one of the most visited attractions in low cost of capital and affordable operating costs creates the perfect the city. It features world-renowned glass exhibits and famous works environment for businesses to flourish. No matter what brings you to of art from around the world. The Toledo Museum of Art’s Glass Toledo, the city’s economic success and various attractions create an Pavilion is across the street from the Museum and features beautiful amazing community for businesses and families to enjoy. panels of curved glass, serving as a the perfect way to show the city’s appreciation for their history of glass. The Toledo Botanical Garden is another beautiful space open to the public in the city. It is filled with several different types of gardens including the Shade Garden, an Herb Garden, a Pioneer Garden, a Vegetable Garden, a Perennial Garden, and much more. Another spot to appreciate nature in the city is from the Sandpiper Boat Cruise. This 100-passenger boat sails along the Maumee River and can be found in downtown Toledo.

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WOODLAWN CEMETERY 5.2 Miles TOLEDO, OHIO JERMAIN from Downtown FOREST PARK Toledo CEMETERY THE “GLASS CAPITAL” OF THE WORLD 75 Ottawa Hills OTTAWA PARK 280 OTTAWA PARK GOLF COURSE

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HEALTH UNIVERSITY OF SCIENCE TOLEDO-HEALTH SWAN CREEK CAMPUS SCIENCE PRESERVE METROPARK Northwood Rossford MAJOR EMPLOYERS TOLEDO, OHIO

Promedica Health Systems 14,465

Mercy Health Partners 8,827

University of Toledo 6,662

Whirlpool Corporation 6,182

Fiat Chrysler 6,159 Toledo City School District 4,800 Located just 3.1 miles from Just minutes from downtown Lucas County 3,247 the regions largest employer Toledo and the heart of the General Motors Corp./ Promedica Health Systems region’s financial district 1,971 GM Powertrain Division

HCR Manor Care, Inc 1,845

20 DEMOGRAPHICS / TOLEDO, OHIO 245,901 Total Population Within 5-Mile Radius

$60,544 $42,779 Average Household Income Median Household Income Within 5-Mile Radius Within 5-Mile Radius

101,824 Total Households in 5-Mile Radius

21 POPULATION 1 MILE 3 MILES 5 MILES POPULATION PROFILE 1 MILE 3 MILES 5 MILES 2024 Projection 12,267 102,876 245,901 2019A Estimated Population by Age 12,427 104,570 250,537 2019A Estimate 12,427 104,570 250,537 Under 4 6.2% 5.9% 6.5% Growth 2019A - 2024 -1.29% -1.62% -1.85% 5 to 14 Years 9.7% 11.6% 12.5% 2000 Census 13,518 112,699 273,606 15 to 17 Years 2.8% 3.5% 3.7% 2010 Census 12,508 106,044 254,353 18 to 19 Years 2.2% 4.4% 3.1% Growth 2000 - 2010 -7.47% -5.91% -7.04% 20 to 24 Years 8.8% 9.0% 7.4% 25 to 29 Years 9.0% 8.1% 8.1% 30 to 34 Years 7.3% 6.6% 6.7% HOUSEHOLDS 1 MILE 3 MILES 5 MILES 35 to 39 Years 5.7% 5.8% 6.0% 40 to 49 Years 10.3% 10.9% 11.4% 2024 Projections 5,777 42,652 101,824 50 to 59 Years 12.6% 12.8% 13.2% 2019A Estimate 5,809 43,101 103,052 60 to 64 Years 6.8% 6.2% 6.3% Growth 2019A - 2024 -0.55% -1.04% -1.19% 65 to 69 Years 5.3% 5.0% 5.1% 2000 Census 6,157 46,825 112,018 70 to 74 Years 3.5% 3.6% 3.6% 2010 Census 5,945 44,265 106,058 Age 75+ 9.8% 6.8% 6.5%

Growth 2000 - 2010 -3.45% -5.47% -5.32% 2019A Median Age 38.4 35.8 36.7

HOUSEHOLDS BY INCOME (2019A Est.) 1 MILE 3 MILES 5 MILES 2019A Population 25 + by Education Level 8,742 68,590 167,338 Elementary (0-8) 0.83% 1.16% 1.84% $200,000 or More 2.94% 2.95% 2.53% Some High School (9-11) 3.74% 7.50% 9.56% $150,000 - $199,999 4.11% 2.89% 2.63% High School Graduate (12) 15.94% 28.65% 30.96% $100,000 - $149,999 14.56% 10.20% 9.90% Some College (13-15) 24.19% 25.03% 24.21% $75,000 - $99,999 11.88% 11.30% 10.42% Associates Degree Only 9.03% 8.69% 8.97% $50,000 - $74,999 18.39% 19.79% 18.17% Bachelors Degree Only 27.04% 17.33% 14.48% $35,000 - $49,999 12.95% 13.93% 13.85% Graduate Degree 18.99% 10.94% 9.11% $25,000 - $34,999 9.58% 11.20% 11.24% $15,000 - $24,999 12.92% 12.66% 13.29% $10,000 - $14,999 6.06% 6.24% 6.84% Under $9,999 6.61% 8.84% 11.13%

2019A Est. Average Household Income $70,651 $64,627 $60,544 2019A Est. Median Household Income $52,242 $46,429 $42,779 2019A Est. Per Capita Income $33,278 $27,094 $25,219

22 TOLEDO OHIO

LIOR REGENSTREIF SENIOR MANAGING DIRECTOR INVESTMENTS SENIOR DIRECTOR, NET LEASED PROPERTIES GROUP ENCINO OFFICE Tel: (818) 212-2730 Fax: (818) 212-2710 [email protected] License: CA 01267761