OFFERING MEMORANDUM

Comerica Bank Ground Lease Richardson, TX | -Fort Worth MSA

This property is listed in conjunction with -licensed real estate broker Delta Commercial. www.preservewestcapital.com TABLE OF CONTENTS

PROPERTY HIGHLIGHTS 1 AERIALS 5

PROPERTY INFORMATION 2 ABOUT THE AREA 8

TENANT INFORMATION 3 DEMOGRAPHICS 10

SITE PLAN 4

Disclaimer MGM Capital Corp dba Preserve West Capital (“Broker”) has been retained on an exclusive basis to market the property Putnam Daily described herein (“Property”). Broker has been authorized by the Seller of the Property (“Seller”) to prepare and distribute Partner the enclosed information (“Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of 415.445.5107 intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and [email protected] make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, CA RE License #01750064 you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate. Lindsey Snider The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person Vice President without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the 415.906.2887 information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller [email protected] and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, CA RE License #01443387 members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must Michael Maffia independently confirm the accuracy of the projections contained in the pro forma. Managing Partner Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, 415.373.4060 to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a [email protected] purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with CA RE License #01340853 respect thereto.

Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.

www.preservewestcapital.com PROPERTY HIGHLIGHTS

• Long Term Absolute NNN Ground Lease to Comerica Bank (NYSE:CMA) • Robust Demographics in Surrounding Area with 9 Years Remaining - Total Daytime Population of 430,519 within 5 Mile Radius - Investment Grade Tenant Rated A3 by Moody’s and A- by S&P • Strategically Situated in Close Proximity to Major Employers within - Scheduled 10% Rental Escalation in 2024 Regional Insurance & Telecom Corridor • Comerica Bank (S&P: A-) is one of the country’s largest financial - Companies in Surrounding Area Include Geico, Traveler’s, Blue Cross/ institutions with assets in excess of $74.1 billion and they are Blue Shield of Texas, Honeywell, Yahoo, & More headquartered in Dallas, Texas - 7.25 Million Square Feet of Retail and 18.70 Million Square Feet of • Pandemic Proof Tenant – Open & Operating Office Within a 3 Mile Radius • Prominent Retail Location Adjacent to US-75 Junction • Dallas-Fort Worth MSA Location - 283,800 Combined AADT - Population of Approximately 7.4 Million • Affluent, Educated, & Growing Dallas Suburb - 17th Largest Metropolitan Economy Worldwide - Average Household Income of $113,787 within 1 Mile of Site - Located 12 miles northeast of - Approximately 70% of Population in 1 Mile Radius has Earned • Substantial Deposit Base with $105,378,000 in deposits Bachelor’s Degree or Higher - 9th Highest Comerica Bank Branch in Dallas County out of 34 in Terms - 3.16% Annual Population Growth Rate of Deposits • Approximately 3 Miles from University of Texas at Dallas • Long Operating History at this Location - Approximately 28,000 Students Enrolled - Comerica has Successfully Been Operating at this Location Since 2009 - Richardson’s 3rd-Largest Employer with Staff of 2,600+ PRESERVE WEST CAPITAL | 1 PROPERTY OVERVIEW

PRICE $4,580,000 5.00% CAP Rate

Location Net Annual Income The property is located at 910 East Campbell Road in Richardson, Texas. Year Annual Rent Return

Lot Size Years 1-5 $190,000 n/a

Approximately 0.96 acres or 41,818 square feet. Years 6-10 $209,000 n/a

Improvements Years 11-15 (Current Rent) $229,000 5.00% A 3,455 square foot retail building for Comerica Bank with 4 drive-thru ATM lanes. Years 16-20 $252,890 5.52%

The improvements have been built and are owned by Tenant; only the land is for sale. Years 21-25 (Option 1) $278,179 6.07%

Parking Years 26-30 (Option 2) $305,997 6.68% There is ample parking available on site. Years 31-35 (Option 3) $336,597 7.35%

Years 36-40 (Option 4) $370,256 8.08% Ground Lease Leased to Comerica Bank for 20 years from October 2009 through December 31, 2029 at a current annual rent of $229,000. There are four (4) five-year options Financing to renew the lease. Rent is to increase by 10% every five years and at the start of This property will be delivered free and clear of permanent financing. each option period. The lease is net with tenant responsible for all taxes, insurance, maintenance, including parking lot, roof, and structural elements, and proportional share of common area maintenance costs for the common areas shared with the adjacent parcel.

PRESERVE WEST CAPITAL | 2 ABOUT THE TENANT

Comerica Bank is the Texas banking subsidiary of Comerica Incorporated (NYSE:CMA). Comerica is among the 25 largest bank holding companies in the U.S., with approximately $73.4 billion in assets, $57.3 billion in deposits, $50.4 billion in loans, and $7.3 billion in shareholder’s equity. The company primarily operates in California, Texas, Michigan, Arizona, and Florida, under three business segments: business banking, retail banking, and wealth management. Comerica Incorporated is rated A3 by Moody’s and BBB+ by S&P; Comerica Bank is rated A3 by Moody’s and A- by S&P. For 2019, the company reported revenue of $3.35 billion, net income of $1.19 billion, and total stockholder equity of $7.33 billion.

For more information, please visit www.comerica.com.

PRESERVE WEST CAPITAL | 3 SITE PLAN

E CAMPBELL ROAD

JAY ELL DRIVE

FIRMAN DRIVE AERIAL NORTHWEST VIEW

Post Eastside ) Apartments Shops (2,000 AA

Campell Rd (3,00 AA) Campell orum I

ay Ell r AERIAL NORTHWEST VIEW

PAN

Palisades II

0 AA) (2,00 akeside Campus

Campell orum I

Campell Rd (3,00 AA

) ll r ay E AERIAL SOUTH VIEW

owntown allas allas Park Central alleria elecom Corridor

reenVue Collins Crossing igital Realty Apartments atacampus (2,000 AA) he Mallory Eastside

Post Eastside Apartments Shops Campell re Suare e nvi lle Ave

ay El l r

)

Campell Rd (3,00 AA ABOUT THE AREA General Overview Richardson (population 120,981) is a suburb of Dallas located in Dallas and Collin Counties, approximately 12 miles northeast of downtown Dallas. The city is home to the campus of the University of Texas at Dallas, with a student body of approximately 28,000. The city is a regional hub for the insurance industry, with Blue Cross/Blue Shield of Texas, Traveler’s, GEICO, State Farm, United Healthcare among the city’s largest employers. Richardson is also home to the Telecom Corridor, with major companies including AT&T, Verizon, Cisco Systems, Samsung, ZTE, MetroPCS, Texas Instruments, Qorvo, and Fujitsu. SITE The city is part of the Dallas-Fort Worth-Arlington Metropolitan Statistical Area, commonly known as the Dallas-Fort Worth Metroplex, which is the largest metropolitan area in Texas and the South, the fourth largest in the U.S., and the seventh largest on the continent with a population of nearly 7.4 million. It is the economic hub of Northern Texas, with a real GDP exceeding $535 billion, making it the 17th largest metropolitan economy in the world. The Dallas-Fort Worth MSA consistently experiences some of the highest year-over-year population growth in the country.

The region benefits from a diverse economic base in banking, commerce, telecommunications, technology, energy, healthcare, transportation, and more. The metroplex is home to the corporate headquarters of more than 10,000 companies and benefits from the third largest concentration of Fortune 500 companies in the U.S., behind only New York and Chicago. Fortune 500 companies based in the MSA include Exxon Mobil, AT&T, American Airlines, Southwest Airlines, Kimberly-Clark, Texas Instruments, GameStop, Alliance Data, Dr Pepper Snapple Group, Energy Transfer Equity, Tenet Healthcare, Fluor Corporation, Holly Frontier, D.R. Horton, Jacobs Engineering, Dean Foods, Yum China Holdings, Celanes, and Vistra Energy. Other major companies in the region include Brinker International, Ericsson, Frito-Lay, Cinemark, Comerica, Corner Bakery Café, Greyhound Bus Lines, Intuit, Lockheed Martin, Raytheon, Nokia, Pier 1 Imports, Toyota Motor North America, ZTE, and more. ABOUT THE AREA

Site Information The subject property is prominently situated with excellent access and visibility along East Campbell Road (37,800 AADT) adjacent to its junction with US-75 (246,000 AADT). The site benefits from robust demographics with a total daytime population of 430,519 within 5 miles of the site and an annual growth rate of 3.16% within a 1 mile radius. Average household income is $113,787 within 1 mile of the site, and nearly 70% of the population within that radius has earned a Bachelor’s degree or higher – more than twice the national average. SITE The property benefits from a prominent retail location neighboring numerous shopping centers and major retail tenants. Nearby retail centers include Richardson Plaza, anchored by Gold’s Gym; Campbell Road Village, featuring Natural Grocers and CVS; Pavilions East, anchored by Sprouts Farmers Market and Homegoods; Collin Creek Village, featuring Total Wine and Marshalls; CityLine Market, anchored by Whole Foods & CVS; Pavilion West, featuring 24 Hour Fitness; Collin Creek Mall, with major tenants including Planet Fitness, Big Lots, and Ashley Homestore ; Pavilion North, anchored by Marshall’s; Pavilion Court, with tenants including Target and Petsmart; Lennox Center, anchored by Tom Thumb; Canyon Creek Plaza, with tenants including ATI Physical Therapy, Smoothie King, and more; Campbell Plaza, anchored by Dollar General; North Rich Plaza, with tenants including O’Reilly Auto Parts and Dollar General; Creekwalk Village, featuring Petco and Bed Bath & Beyond; and more. Major retail tenants in the surrounding area include Walmart Supercenter, Sam’s Club, Kroger, Fiesta Mart, the Home Depot, and more.

In addition, the property is located approximately 3 miles from the University of Texas at Dallas, Richardson’s 3rd-largest employer with a staff of more than 2,600 and more than 28,000 students enrolled. The property is located in close proximity to numerous other major employers, including Geico, Traveler’s, Blue Cross/Blue Shield of Texas, Convergys, Honeywell, Yahoo, Tyco SimplexGrinnell, Inogen, Digital Realty, Fortis Labs, RealPage, Infosys, and more. DEMOGRAPHICS

930 E Campbell Rd | Richardson, TX 75081

Top Employers # of in Richardson Employees

2019 POPULATION AVG. HOME VALUE AVG. HOUSEHOLD INCOME State Farm Insurance 8,000 381,721 $371,734 $113,787 Blue Cross & Blue Shield of Texas 3,100 The University of Texas at Dallas 2,674 Population Summary 1 Mile 1 3 Miles 5 Miles Richardson ISD 2,500 2010 Total Population 4,125 88,537 329,167 2019 Total Population 6,379 111,374 381,721 RealPage 2,100

2024 Total Population 7,451 123,188 410,476 Cisco Systems 2,000 2019-2024 Annual Rate 3.16% 2.04% 1.46% GEICO 1,900 2019 Total Daytime Population 37,747 169,503 430,519 Raytheon 1,700 Average Household Income

2019 $113,787 $94,038 $87,389 United Healthcare 1,700 2024 $121,495 $104,775 $97,851 Fujitsu Network 1,500 Average Home Value

2019 $371,734 $281,269 $275,599 2024 $398,944 $304,093 $298,960 PRESERVE PRESERVE WEST WEST CAPITAL CAPITAL || 10 Approved by the Texas Real Estate Commission for Voluntary Use

Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. Information About Brokerage Services

efore working with a real estate broker, you should Act. The broker must obtain the written consent of each know that the duties of a broker depend on whom party to the transaction to act as an intermediary. The the broker represents. If you are a prospective written consent must state who will pay the broker and, in Bseller or landlord (owner) or a prospective buyer or conspicuous bold or underlined print, set forth the broker’s tenant (buyer), you should know that the broker who lists obligations as an intermediary. The broker is required to the property for sale or lease is the owner’s agent. A treat each party honestly and fairly and to comply with broker who acts as a subagent represents the owner in The Texas Real Estate License Act. A broker who acts cooperation with the listing broker. A broker who acts as as an intermediary in a transaction: a buyer’s agent represents the buyer. A broker may act as (1) shall treat all parties honestly; an intermediary between the parties if the parties (2) may not disclose that the owner will accept a consent in writing. A broker can assist you in locating a price less than the asking price unless authorized in property, preparing a contract or lease, or obtaining writing to do so by the owner; financing without representing you. A broker is obligated (3) may not disclose that the buyer will pay a price by law to treat you honestly. greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and IF THE BROKER REPRESENTS THE OWNER: (4) may not disclose any confidential information or The broker becomes the owner’s agent by entering into an any information that a party specifically instructs the agreement with the owner, usually through a written - broker in writing not to disclose unless authorized in listing agreement, or by agreeing to act as a subagent by writing to disclose the information or required to do so accepting an offer of subagency from the listing broker. A by The Texas Real Estate License Act or a court subagent may work in a different real estate office. A order or if the information materially relates to the listing broker or subagent can assist the buyer but does condition of the property. not represent the buyer and must place the interests of With the parties’ consent, a broker acting as an the owner first. The buyer should not tell the owner’s intermediary between the parties may appoint a person who agent anything the buyer would not want the owner to is licensed under The Texas Real Estate License Act know because an owner’s agent must disclose to the and associated with the broker to communicate with and owner any material information known to the agent. carry out instructions of one party and another person who is licensed under that Act and associated with the broker IF THE BROKER REPRESENTS THE BUYER: to communicate with and carry out instructions of the The broker becomes the buyer’s agent by entering into an other party. agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent If you choose to have a broker represent you, can assist the owner but does not represent the owner you should enter into a written agreement with the broker and must place the interests of the buyer first. The owner that clearly establishes the broker’s obligations and your should not tell a buyer’s agent anything the owner would obligations. The agreement should state how and by not want the buyer to know because a buyer’s agent must whom the broker will be paid. You have the right to disclose to the buyer any material information known to the choose the type of representation, if any, you wish to agent. receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you IF THE BROKER ACTS AS AN INTERMEDIARY: have any questions regarding the duties and A broker may act as an intermediary between the parties responsibilities of the broker, you should resolve those if the broker complies with The Texas Real Estate License questions before proceeding.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

Buyer, Seller, Landlord or Tenant Date

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question EQUAL HOUSING OPPORTUNITY or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960.

01A TREC No. OP-K Putnam Daily Lindsey Snider Michael Maffia Partner Vice President Managing Partner 415.445.5107 415.906.2887 415.373.4060 [email protected] [email protected] [email protected] CA RE License #01750064 CA RE License #01443387 CA RE License #01340853