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Fedex Express 1111 Bird Center Drive | Palm Springs, Ca 92262 Content Investment Summary 3

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Fedex Express 1111 Bird Center Drive | Palm Springs, Ca 92262 Content Investment Summary 3 INDUSTRIAL OFFERING MEMORANDUM FEDEX EXPRESS 1111 BIRD CENTER DRIVE | PALM SPRINGS, CA 92262 CONTENT INVESTMENT SUMMARY 3 FINANCIAL OVERVIEW 5 TENANT OVERVIEW 13 AREA OVERVIEW 14 EXCLUSIVE LISTING AGENTS: ALEXANDER HARROLD AVP & Senior Director | Industrial DIRECT 1 310 919 5790 MOBILE 1 310 977 1651 [email protected] LIC # 02009656 (CA) BROKER OF RECORD KYLE MATTHEWS Broker of Record FIRM # 1972189 (CA) INVESTMENT SUMMARY INVESTMENT SUMMARY INVESTMENT HIGHLIGHTS Mission Critical Location – This is the only FedEx Express Ship Center that serves the Coachella Valley of the Inland Empire. Conveniently located adjacent to Palm Springs International Airport and 2 miles from the I-10 HWY. The I-10 HWY is the main highway from Los Angeles through the Coachella Valley connecting to Phoenix, AZ. Inland Empire Industrial: The Inland Empire’s industrial market has tremendously grown as a result of expansions in the nation’s e-commerce industry, the nation’s supply-chain infrastructure, and the Southern California megaregional economy. Asking rents grew by 7.4% year-over-year, after growing by over 9% from 15Q2 to 18Q2. Below Market Rent – FedEx is currently paying below market rent (+/- 10 - 30%) at $9.00/ SF. Costar has reported a market rent of $10/SF - $12.54/SF with 4.1% vacancy out of the 992 industrial facilities in the Coachella Valley Passive Ownership: FedEx is on a ModifiedNNN Lease with Landlord only responsible for Roof and Structure. FedEx is responsible for Taxes, Insurance, Utilities, HVAC, Sidewalks and Paving, etc. Concrete Tilt-Up Build to Suit – This facility was built for FedEx in 1995 with Nine (9) Grade Level Doors and One (1) 53’ Side Loading Dock-Door. Investment Grade Tenant – FedEx Express is the world’s largest express transportation company, and one of four segment offerings which comprise the world’s largest commerce provider, FedEx Corporation (NYSE: FDX). FedEx Corporation generates ± $60 Billion in annual revenue and holds an S&P: BBB credit rating with Standard & Poor’s Rating Service FEDEX EXPRESS Tenant FEDEX 1111 Bird Center Drive Guarantor: Federal Express Corporation Palm Springs, CA 92262 Type of Ownership: Fee Simple Price $7,030,000 Lease Type: NNN Modified 40,233 SF Construction Type: Concrete Tilt Up Price/SF $174.73 Grade Level Doors: Nine (9) Current Cap Rate 5.15% 53’ Side Loading Dock Door: One (1) Average Cap Rate 5.38% Options: Two, 5-year options at 95% FMV 2020 Cap Rate 5.43% Tenant Responsibilities: Utilities, Taxes, Insurance, Paving, HVAC, etc Landlord Responsibilities: Roof/Structure Market Report - Coachella Valley - Inland Empire (Costar) Lease Commencement Date: 7/1/1995 Industrial Buildings 992 Lease Expiration Date: 6/30/2025 Market Rent $10 - $12.54/SF Term Remaining: 6.5+ Years Vacancy 4.10% Options: Two, 5-year options at 95% FMV Increases: 5.33% Rent Increase in 2020 Year Built: 1995 Build to Suit % Below Options to Comparison to Market Rent/SF Market Renew Total SF: 40,233 Acres: 2.68 FedEx - Palm Springs, CA $9.00 10% - 28% 95% of FMV Annualized Operating Data Month Annual Rent/SF Cap Rate 7/1/2015 – 6/30/2020 $30,174.75 $362,097.00 $9.00 5.15% 7/1/2020 – 6/30/2025 $31,784.07 $381,408.84 $9.48 5.43% Option 1 (5 years) 95% FMV Option 2 (5 years) 95% FMV FINANCIAL OVERVIEW SURROUNDING AREA Phoenix, AZ Los Angeles, CA Indio La Quinta Palm Desert Cathedral City PALM SPRINGS INTERNATIONAL AIRPORT Palm Springs SURROUNDING TENANTS Desert View Big Morongo Canyon Preserve Snow Creek Whitewater North Palm Springs PALM SPRINGS INTERNATIONAL AIRPORT N Gene Autry Trail PARCEL MAP N Gene Autry Trail 12 | FEDEX | PROPERTY OVERVIEW TENANT OVERVIEW FEDEX CORPORATION FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenues of $58 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand.FedEx Ground is a leading North American provider of ground small-package delivery services, providing service to the U.S. and Canada. FedEx Home Delivery®, the industry’s first ground service dedicated to residential delivery, is available from FedEx Ground and provides Saturday delivery for no additional charge. FedEx SmartPost® is a ground service that specializes in the consolidation and delivery of high volumes of low-weight, less time-sensitive business-to-consumer packages primarily using the U.S. Postal Service® for last mile delivery to residences. FedEx Ground business segment financial results include FedEx Supply Chain, one of the largest third- party logistics providers in North America. FEDEX EXPRESS FedEx Express is a cargo airline based in Memphis, Tennessee, United States. It is the world’s largest airline in terms of freight tons flown and the world’s fourth largest in terms of fleet size. It is a subsidiary of FedEx Corporation, delivering packages and freight to more than 375 destinations in nearly every country each day. Its headquarters are in Memphis with its global “SuperHub” located at Memphis International Airport. In the United States, FedEx Express has a national hub at Indianapolis International Airport. Regional hubs are located at Ted Stevens Anchorage International Airport, Oakland International Airport, Newark Liberty International Airport, Fort Worth Alliance Airport, Piedmont Triad International Airport, and Miami International Airport. International regional hubs are located at Paris-Charles de Gaulle Airport, Guangzhou Baiyun International Airport, Kansai International Airport, Toronto Pearson International Airport, and Cologne Bonn Airport. There are a total of 12 air hubs in the company’s worldwide network. ±220,000 ± 5.5 M ±659 ±90K MEMPHIS, TN WWW.FEDEX.COM TEAM MEMBERS PACKAGES AIRCRAFTS MOTORIZED VEHICLES HEADQUARTERS WEBSITE (AVG. DAILY VOLUME) WORLDWIDE ± 24 M POUNDS OF FREIGHT (AVG. DAILY VOLUME) AREA OVERVIEW LOCATION OVERVIEW PALM SPRINGS, CA Palm Springs is a desert resort city within the Coachella Valley. Known for its stylish hotels, new fashionable restaurants, and an assortment of outdoor activities, Palm Springs is the best place to escape from the big city and experience the natural side of California. Some larger events that are held in the area throughout the year include the Palm Springs International Film Festival, Modernism Week, Coachella, and Stagecoach Music Festival. These events bring people from all over the world for once-in-a-lifetime experiences. The nightlife has also been expanding throughout Palm Springs. Since the 1920’s, Palm Springs has been Hollywood’s desert playground for celebrities to relax and escape. With trendy restaurants and developing nightclubs, Palm Springs has offered more than ever before. Whether you are looking for a place to get away and enjoy a couple rounds of golf or explore all that nature has to offer, Palm Springs has something for everyone! Population 1 Mile 3 Mile 5 Mile 2023 Projection 2,305 71,084 113,270 2018 Estimate 2,151 65,911 104,350 2010 Census 1,753 61,216 96,226 Growth 2018-2023 7.14% 7.85% 8.55% Housholds 1 Mile 3 Mile 5 Mile 2023 Projection 974 28,217 46,026 2018 Estimate 924 26,575 43,057 2010 Census 716 24,662 39,759 Growth 2018-2023 5.45% 6.18% 6.90% Income 1 Mile 3 Mile 5 Mile Average Household Income $91,831 $76,525 $78,090 LOCAL ECONOMY TOP EMPLOYERS The city’s main economic sector is tourism. With numerous festivals, conventions, and international events, there is a constant flow of tourists. There is a large amount of hotels, restaurants, and attractions to entertain residents and visitors. Recently, high-end boutiques have moved into downtown and uptown Palm Springs. Tourists have many different options when it comes to resorts that cater to their specific style and needs. Palm Springs is also known for luxurious golf courses that is also a huge attraction to tourists. Another larger boost in the economy is celebrities moving into the area. Throughout the 20th century, celebrities would visit to get away from the big city. Many establish residency during their retirement years which brings up the residential cost. CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of theFedEx Express located at 1111 Bird Center Drive Palm Springs, CA 92262 (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum for the Property, you agree: The Offering Memorandum and its contents are confidential; You will hold it and treat it in the strictest of confidence; and You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.
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