EXCLUSIVE LISTING

SEARS Jacksonville, FL DISCLAIMER

CONFIDENTIAL MEMORANDUM AND Seller reserves the right, at its sole and absolute discretion, to professionals to determine whether hazardous or toxic wastes DISCLAIMER withdraw the Property from being marketed for sale at any time or substances (such as asbestos, PCBs and other contaminant and for any reason. Seller and Agent each expressly reserve or petrochemical products stored in underground tanks) or other 9501 Expressway, Jacksonville, Florida (“Property”) is the right, at their sole and absolute discretion, to reject any and undesirable materials or conditions are present at the Property being offered for sale in an “as-is, where-is” condition and Seller all expressions of interest or offers regarding the Property and, if so, whether any health danger or other liability exists. and Agent make no representations or warranties as to the and/or to terminate discussions with any entity at any time, with Such substances may have been used in the construction or accuracy of the information contained in this Offering or without notice. This offering is made subject to omissions, operation of the building or may be present as a result of the Memorandum. The enclosed materials include highly correction of errors, change of price, or other terms prior to sale previous activities at the Property. Depending upon past, confidential information and are being furnished solely for the or withdrawal from the market without notice. Agent is not current and proposed uses of the Property, it may be prudent to purpose of review by prospective purchasers of the interest authorized to make any representations or agreements on retain an environmental expert to conduct a site investigation described herein. Neither the enclosed materials nor any behalf of Seller. and/ or building inspection. information contained herein is to be used for any other purpose Seller shall have no legal commitment or obligation to any Various federal, state and local authorities have enacted laws or made available to any other person without the express interested party reviewing the enclosed materials, performing and regulations dealing with the use, storage, handling, written consent of the Seller. Each recipient, as a prerequisite to additional investigation, and/or making an offer to purchase the removal, transport and disposal of toxic or hazardous wastes receiving the enclosed, should be registered with Cushman & Property unless and until a binding written agreement for the and substances. If hazardous or toxic substances exist or are Wakefield of Illinois, Inc., as a “Registered Potential Investor”. purchase of the Property have been fully executed, delivered, contemplated to be used at the Property, special governmental The use of this Offering Memorandum and the information and approved by Seller and any conditions to Seller’s approvals or permits may be required. In addition, the cost of provided herein is subject to the terms, provisions and obligations there-under have been satisfied or waived. removal and disposal of such materials may be substantial. limitations of the confidentiality agreement furnished by Agent Consequently, legal counsel and technical experts should be prior to delivery of this Offering Memorandum. By taking possession of and reviewing the information consulted where these substances are or may be present. contained herein, the recipient agrees that (a) the enclosed The enclosed materials were prepared on September 1, 2016 materials and their contents are of a highly confidential nature Cushman & Wakefield of Illinois, Inc. makes no representation and are being provided solely to facilitate the prospective and will be held and treated in the strictest confidence and shall and assumes no obligation regarding the presence or absence investor’s own due diligence for which it shall be fully and solely be returned to Agent or Seller promptly upon request; and (b) of toxic or hazardous waste or substances or other undesirable responsible. The material contained herein is based on the recipient shall not contact employees or tenants of the materials on or about any property ultimately sold. It is solely the information and sources deemed to be reliable, but no Property directly or indirectly regarding any aspect of the responsibility of the potential investor to conduct investigations representation or warranty, express or implied, is being made by enclosed materials or the Property without the prior written to determine the presence of such materials. Agent or Seller or any of their respective representatives, approval of the Seller or Agent; and (c) no portion of the affiliates, officers, employees, shareholders, partners, and enclosed materials may be copied or otherwise reproduced Radon is a naturally occurring radioactive gas that, when it has directors, as to the accuracy or completeness of the information without the prior written authorization of Seller or Agent or as accumulated in a building in sufficient quantities may present contained herein. Summaries contained herein of any legal or otherwise provided in the Confidentiality and/or Registration health risks to persons who are exposed to it over time. other documents are not intended to be comprehensive Agreement executed and delivered by the recipient(s) to Additional information regarding radon and radon testing may statements of the terms of such documents, but rather only Cushman & Wakefield of Illinois, Inc. be obtained from your county public health unit. outlines of some of the principal provisions contained therein. Neither the Agent nor the Seller shall have any liability The Americans with Disabilities Act is intended to make many whatsoever for the accuracy or completeness of the information business establishments equally accessible to persons with a contained herein or any other written or oral communication or REAL ESTATE BROKER’S DISCLOSURE variety of disabilities; modifications to real property may be required. State and local laws also may mandate changes. information transmitted or made available or any action taken or All parties to real estate transactions should be aware of the Cushman & Wakefield of Illinois, Inc. is not qualified to advise decision made by the recipient with respect to the Property. health liability and economic impact of environmental factors on you as to what, if any, changes may be required now, or in the Interested parties are to make their own investigations, real estate. Cushman & Wakefield of Illinois, Inc. does not future. Any Registered Potential Investor should consult the projections and conclusions without reliance upon the material conduct investigations or analysis of environmental matters and, attorneys and qualified design professionals of their choice for contained herein. accordingly, urges its clients to retain qualified environmental information regarding these matters.

If you have no interest in the Property at this time, please NICHOLAS KANICH, Director JULIE BOHN, Director return this Offering Memorandum immediately to: Cushman & Wakefield Cushman & Wakefield [email protected] [email protected] +1 312 470 1811 +1 904 380 8332 Investment Overview

INVESTMENT SUMMARY SITE SUMMARY

Address 9501 Arlington Expressway Zoning CCG-1 Jacksonville, Florida Parking Paved and Striped Price $5,250,000 Infrastructure In place from previous use Building Size (SF) ±200,000 Previous Use Retail Department Store Price/SF Building = $26.25 Land = $6.70 Potential Uses Big Box Retailer, Office, Mixed-Use, Retail/Flex, Showroom/Flex, Institutional, Ecommerce, Call Center, Site Size (SF/AC) 784,080/18.00 Data Center, Self-Storage, Technical School, Church PIN 123028-0300 Taxes 2015 $94,802.52 Type of Ownership Fee Simple

BUILDING SUMMARY

Year Built 1981 Stories Two Building Height (Ft) 36 Floor Height (Ft) 18 Column Spacing (Ft) 25 Exterior-Structural/Roof Brick-Concrete/ Steel Frame-T&G As exclusive broker, Cushman and Wakefield of Florida, Interior/Floor Drywall/ Tile and Carpet Inc. is pleased to present for sale the Sears site, a 200,000 +/- square foot department store in the Regency Center Electrical/Mechanical Functional Mall in Jacksonville, Florida. The property benefits from an Rollup Delivery Doors Dock-high= 7; Grade/Drive-in= 2 18-acre site plan with ample paved parking situated in Three (North, West, South of close proximity to Home Depot, Lowes, Target and the Main Entrance Points property) AMC Theaters.

Situated just 10 miles from Atlantic Beach and 5 miles from , the property is strategically positioned with excellent access and exposure to Atlantic Boulevard, Southside Boulevard Connector, Arlington Expressway and . Area Map

14,500 AADT 26,500 AADT Regency Square Mall Site Plan

Regency Square Boulevard

Dillards

Subject Property

JC Road Monument Penney 18 Acres Impact Center

Atlantic Boulevard

Recent activity in the Regency Square Mall includes:

• International Décor Outlet leasing of 200,000 square feet signed bringing 100-200 • Previous Belk’s department store consisting of 191,000 square feet sells to employees and 80 store fronts to connect consumers and contractors directly with Impact Church for $7M. The Impact Center will become the international manufacturers, including space provided for restaurants – April 2017 First Phase headquarters for the entity which has a total of 11 locations - August 2016 and Second Phase “Asian Town” to open in Q3-2017 with expected Asian Grocer purchased and similar Asian eateries and authentic cultural goods.

Cushman & Wakefield | Sears Sears Site Plan

Cushman & Wakefield | Sears Sears Aerial Site Plan

Cushman & Wakefield | Sears Floor Plan - First Floor

Cushman & Wakefield | Sears Floor Plan - Second Floor

Cushman & Wakefield | Sears Property Photos Market Location Map Submarket Overview

Arlington Submarket Retail Office Industrial 2016-Q2 2016-YE 2016-Q2 2016-YE 2016-Q2 2016-YE

# Buildings 427 431 205 206 85 84

Total RBA (SF) 7,524,267 7,711,003 1,566,946 1,583,318 1,078,960 1,006,986

Vacancy % 7.7% 6.3% 9.0% 8.4% 8.6% 7.1%

Under Construction Inventory (SF) 40,000 40,000 0 0 0 0

Quoted Rates $9.92 $9.56 $14.72 $15.51 $5.95 $6.67

*Costar 2016-Q2 & 2016 Year End

REGENCY MALL SUBMARKET OVERVIEW • International Décor Outlet leasing of 200,000 square feet signed bringing 100-200 employees and 80 store fronts to connect consumers and contractors directly with manufacturers, including space provided for restaurants – April 2017 First Phase and Second Phase “Asian Town” to open in Q3-2017 with expected Asian Grocer and similar Asian eateries and authentic cultural goods. • Previous Belk’s department store consisting of 191,000 square feet sells for $7M. The Impact Center will become the international headquarters for the entity which has a total of 11 locations - August 2016 purchased • East Jacksonville Market: Located 10 miles west from Atlantic/Jax Beach and 5 miles east of Downtown • Property has excellent visibility from intersection of the Arlington Expressway, Southside Boulevard Connector and Atlantic Blvd • AADT is 45,000- 60,000 • 40,150 SF lease signed by Ollie’s Bargain Outlet at Regency Park in first half of 2016

Cushman & Wakefield | Sears Jacksonville Market Overview

Home to two of America's Top 10 1,445,575 18,300 5th Top 10 #1 Recreation City total population jobs added best city to find city for attracting High Schools: for family fun Stanton College Prep and with an average household in 2016 work in the U.S. college graduates - Parenting Magazine 2015 income of $74,129 - Forbes 2015 - Forbes, 2014 Paxson School for Advanced Studies

Jacksonville MSA Employment Growth 12-month change Jan 2017 18,300 Jobs Added 2.8% Job Increase / 5.2% Unemployment 669,500 (rounded) Total Non-Farm Jobs

Jacksonville Population Growth 12-month change Jan 2017 21,605 Population Added 1.5% Population Increase 1,445,575 Total Population

*Sources C&W Research, U.S. Bureau Labor Stats, Moody's, Alteryx, Florida Department of Economic Opportunity (FDEO)

Cushman & Wakefield | Sears Demographics

2016 1 MILE 3 MILE 5 MILE Employees 6,542 30,446 103,910 Total Population 7,417 79,638 206,204 Total Households 3,387 31,336 80,417 HOUSING UNITS Total Housing Units 3,914 35,256 89,736 Occupied Housing Units 86.5% 88.9% 89.6% 9501 Arlington Expy Vacant Housing Units 13.5% 11.1% 10.4% Jacksonville, FL HOUSEHOLD INCOME Average Household Income $49,470 $56,899 $64,817 Median Household Income $38,109 $44,090 $49,046 1 mile Per Capita Income $22,731 $22,477 $25,577 POPULATION TREND

2000 6,446 75,085 175,065 3 miles 2010 7,011 76,019 196,317 Change 2000 to 2010 8.8% 1.2% 12.1% 2016A 7,417 79,638 206,204 5 miles 2021 7,024 83,091 217,916 Change 2016A to 2021 -5.9% 4.3% 5.7%

Cushman & Wakefield | Sears NICHOLAS KANICH JULIE BOHN Director Director Cushman & Wakefield Cushman & Wakefield [email protected] [email protected] +1 312 470 1811 +1 904 380 8332 Mobile +1 312 550 3760 Mobile +1 904 859 2911

CUSHMAN & WAKEFIELD CUSHMAN & WAKEFIELD 200 South Wacker Drive, Floor 28 121 West Forsyth Street, Suite 900 Chicago, Illinois 60606 Jacksonville, Florida 32202 +1 312 470 3800 +1 904 731 9500

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