NET LEASE INVESTMENT OFFERING

GOODWILL ( MSA) 1715 Ave Grafton, WI 53024 TABLE OF CONTENTS

TABLE OF CONTENTS

I. Executive Profile II. Location Overview III. Market & Tenant Overview Executive Summary Photographs Demographic Report Investment Highlights Site Plan Market Overview Property Overview Aerial Tenant Overview Maps

NET LEASE INVESTMENT OFFERING DISCLAIMER STATEMENT

DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. It STATEMENT: is intended to be reviewed only by the party receiving it from The Boulder Group and Property Ownership and should not be made available to any other person or entity without the written consent of The Boulder Group.

This Offering Memorandum 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. The Boulder Group and Property Ownership have not made any investigation, and make no warranty or representation.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group and Property Ownership have not verified, and will not verify, any of the information contained herein, nor has The Boulder Group and Property Ownership 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.

NET LEASE INVESTMENT OFFERING EXECUTIVE SUMMARY

EXECUTIVE The Boulder Group is pleased to exclusively market for sale a single tenant net leased Goodwill property located in SUMMARY: Grafton, Wisconsin, approximately 20 miles north of downtown Milwaukee. The property is located in a strong retail corridor with excellent visibility and easy accessibility. The tenant, Goodwill Retail Services, has a network of more than 75 local retail stores in Southeastern Wisconsin and Metropolitan . They have operated at this location since 2012. This is a proven location for Goodwill as evident by a recent early lease extension through August 2027.

The 21,400 square foot property is located on Wisconsin Avenue at a hard corner. Wisconsin Avenue is a primary north-south thoroughfare in the area. The property benefits from its position within a strong retail corridor that features Shopko, Pick ‘n Save (Kroger), Walgreens, Ace Hardware, O’Reilly Auto Parts, NAPA Auto Parts and a number of quick service restaurants. The property is also located within close proximity to multiple residential communities, local businesses, and schools. There are over 28,140 people living within a three mile radius of the property earning an average household income in excess of $91,900 per year.

Goodwill has over 10 years remaining on their lease which expires August 31, 2027. The lease features a rental escalation in the primary term and in each of the three 5-year renewal option periods. Goodwill includes a drive-thru donation center and quality signage located prominently on Wisconsin Avenue. Goodwill is a nonprofit organization that provides job training, employment placement services, and other community-based programs for seniors, veterans, and people with disabilities, criminal backgrounds and other specialized needs.

NET LEASE INVESTMENT OFFERING INVESTMENT HIGHLIGHTS

INVESTMENT • Located within the Milwaukee MSA HIGHLIGHTS: • Tenant recently extended lease showing commitment to this location

• More than 10 years remaining in primary term

• Rental escalations in primary term and renewal option periods

• Low rent per square foot

• Exceptional visibility and easy access

• Drive-thru donation center

• Benefits from its position within a strong retail corridor that features Shopko, Pick ‘n Save (Kroger), Walgreens, Ace Hardware, O’Reilly Auto Parts, NAPA Auto Parts and a number of quick service restaurants

• Average household income of approximately $91,900 annually within 3 miles of the property

NET LEASE INVESTMENT OFFERING PROPERTY OVERVIEW

PROPERTY Price: $3,154,519 OVERVIEW: Cap Rate: 6.75% Rent Schedule: NOI Escalation Date $212,930* $225,770 9/1/2022 $234,330 9/1/2027 (Option 1) $255,730 9/1/2032 (Option 2) $277,130 9/1/2037 (Option 3)

Renewal Options: Three 5-Year Options Lease Commencement Date: August 15, 2012 Lease Expiration Date: August 31, 2027 Tenant: Goodwill Retail Services, Inc. Year Built/Renovated: 1996/2012 Lease Type: NN (Roof & Structure) Parking: 70 Spaces Building Size: 21,400 SF Land Size: 2.79 Acres

* The lease allows landlord to collect a 4% management fee of operating charges; however, the fee is not included in the NOI.

NET LEASE INVESTMENT OFFERING PHOTOGRAPHS

NET LEASE INVESTMENT OFFERING SITE PLAN

NET LEASE INVESTMENT OFFERING AERIAL

NET LEASE INVESTMENT OFFERING MAPSMAP

NET LEASE INVESTMENT OFFERING MAPS

NET LEASE INVESTMENT OFFERING DEMOGRAPHIC REPORT

DEMOGRAPHIC Population 1-Mile 3-Mile 5-Mile REPORT: Total Population 7,972 28,142 41,814 Total Households 3,400 11,627 16,498

Income 1-Mile 3-Mile 5-Mile

Median Household Income $56,210 $69,253 $75,736 Average Household Income $78,574 $91,898 $99,379

NET LEASE INVESTMENT OFFERING MARKET OVERVIEW

MARKET Grafton, WI Grafton is a village in Ozaukee County, Wisconsin, roughly 20 miles north of downtown Milwaukee OVERVIEW: on the shore of . The village has a population of more than 11,450 people. Grafton is one of the oldest in Ozaukee County. In 1838, Timothy Wooden purchased approximately 145 acres of land, which would become the business district of Grafton. By 1841, development was underway with the area comprised mainly of settlers of German descent. The Village was incorporated in 1896. During the next century, Grafton grew from a predominantly lumber-oriented industry base to a com- munity of many occupations.

Grafton is served by two main highways; Interstate-43 and Highway-60. The closest airport to Grafton with scheduled flights is General Mitchell International Airport (30 Miles). Public transit is provided by a commuter express bus (Route 143) to Milwaukee with two stops in Grafton. Ozaukee County also offers a Shared Ride Taxi service, which runs daily, and makes connections to Washington County Transit and Milwaukee County Routes 12, 49 and 42u.

www.village.grafton.wi.us

NET LEASE INVESTMENT OFFERING MARKET OVERVIEW

MARKET Milwaukee, WI Milwaukee is the largest city in Wisconsin, the 28th most populous city in the United States and comprises OVERVIEW: nearly one-third of the state’s entire population. Milwaukee is located on the southwestern shore of Lake Michigan and has a population of more than 595,000 people with an MSA population of more than 1,752,000.

Milwaukee and its suburbs are the home to the international headquarters of 13 Fortune 1000 companies, including Johnson Controls, Northwestern Mutual, Manpower Inc., Jefferson Wells, Kohl’s, Harley-Davidson, Rockwell Automation, Fiserv, Inc., Hal Leonard, Wisconsin Energy, Briggs & Stratton, Joy Global, Bucyrus International, A.O. Smith, GE Healthcare Diagnostic Imaging and Clinical Systems and MGIC Investments. The Milwaukee metropolitan area ranks fifth in the United States in terms of the number of Fortune 500 company headquarters per capita.

Milwaukee is ideally located in the heart of the Upper Midwest. Situated on the western shores of Lake Michigan, one of the five Great Lakes, it is a 90-minute drive from downtown Chicago, a five-hour drive from Minneapolis-St. Paul and Indianapolis, and slightly more than an hour away from Madison, the capital of Wisconsin.

Three of Wisconsin’s Interstate highways intersect in Milwaukee. Interstate-94 travels north from Chicago to enter Milwaukee and continues west to Madison. Interstate-43 enters Milwaukee from the southwest and continues north along Lake Michigan to Green Bay. Interstate-41 follows Interstate-94 north from the state line before turning west and north to head to Green Bay.

Milwaukee is home to two airports, General Mitchell International Airport on the southern edge of the city, and the regional Timmerman Field on the north side. Mitchell is served by 8 airlines, which offer roughly 240 daily departures and 245 daily arrivals. Approximately 35 cities are served nonstop or direct from Mitchell International. It is the largest airport in Wisconsin and the 34th largest in the nation.

Milwaukee has historically been a hub for rail traffic and the metro area is served by five rail operators, including the Canadian National Railway, Canadian Pacific Railway and Union Pacific Railroad. Milwaukee’s mass transit needs are served primarily by the Milwaukee County Transit System (MCTS), which has more than 50 routes and is often ranked among the nation’s best transit systems. Amtrak provides passenger rail service to all parts of the US and Canada from its downtown Milwaukee terminal. Amtrak serves as a vital link to Chicago via the Hiawatha Service line which carriages roughly 800,000 transporters a year.

www.visitmilwaukee.org

NET LEASE INVESTMENT OFFERING TENANT OVERVIEW

TENANT Goodwill Retail Services OVERVIEW: Goodwill Retail Services, the tenant, operates a network of more than 75 Goodwill Store and Donation Centers throughout Southeast Wisconsin and Metropolitan Chicago. They are an expanding and dynamic retail operation.

Goodwill Industries International Inc. (Goodwill) is an American nonprofit organization that provides job training, employment placement services, and other community-based programs for seniors, veterans, and people with disabilities, criminal backgrounds and other specialized needs. Goodwill has become a mainstream retail outlet, specializing in a wide selection of choice resale goods. Goodwill collects donated clothing and household items and in turn sells those goods at a fair market value to support their mission. Revenue from sales of donated items provides funding for vocational training and other Goodwill programs and services.

Goodwill operates as a network of independent, community-based organizations in South Korea, Venezuela, Brazil, Mexico, Panama, Uruguay, the United States, Canada, and 8 other countries. It slowly expanded from its founding in 1902 and was first called Goodwill in 1915. Goodwill’s logo is a stylized letter g, resembling a smiling face. It was designed by Joseph Selame in 1968.

Website: www.goodwill.com Founded: 1902 Number of Employees: 312,000+ Corporate Headquarters: Rockville, Maryland

NET LEASE INVESTMENT OFFERING Randy Blankstein President 847.562.0003 [email protected]

Jimmy Goodman Partner 847.562.8500 [email protected]

666 Dundee Road, Suite 1801 Northbrook, IL 60062

www.bouldergroup.com