Philadelphia, Pa

Prime Redevelopment Opportunity in Booming East Callowhill Neighborhood

442-62 N. 8th Street

OFFERING MEMORANDUM Confidentiality & Disclaimer Statement Contact Us: Colliers International (“Broker”), as exclusive marketing representative of 442-62 N. 8th Street, Philadelphia, PA (“Seller”) is solely authorized to present this property investment offering (the “Offering”). EXCLUSIVE REPRESENTATIVE: Prior to submitting an offer to purchase 442-62 N. 8th Street, Philadelphia, PA (the “Property”), interested parties should perform and rely upon their own investigations, MICHAEL BARMASH analyses, estimates and projections and otherwise satisfy any concerns regarding material Senior Managing Director/Principal aspects of the proposed transaction including, but not limited to, legal, municipal, direct +1 215 928 7519 environmental, operational, seismic, financial and physical issues, and all other matters mobile +1 267 235 5306 affecting or pertaining to the Property. The Seller will be offering the Property including all [email protected] appearances and improvements, solely on an “As Is, Where Is” basis, without any representations or warranties. No person, including the Broker, is authorized to make any representation or warranties on behalf of the Seller regarding the Property. Any and all information regarding the Property provided to any interested party by the Seller or Broker DEBT & EQUITY ADVISOR: including all information obtained in the Offering, is provided without any representation or assurance, expressed or implied, regarding the accuracy, completeness or current status of applicability of such information. Each interested party is expected to undertake such BOB BECKMAN reviews and investigations and make such inquiries as such party may believe to be Senior Finance Director necessary, appropriate or advisable for the purpose of forming a decision to make an offer direct +1 215 928 7508 to acquire the Property. mobile +1 215 850 3422 [email protected] The material contained herein is confidential and is presented strictly as information for the exclusive use of the prospective purchaser. Receipt and review of this Offering by the prospective purchaser constitutes an agreement not to divulge, share or distribute the information to any other party, except the prospective purchaser’s legal counsel and financial advisors, without the prior specific written authorization of the Seller or Broker. Each prospective purchaser shall also agree to and comply with the provisions of the confidentiality agreement executed by such prospective purchaser if requested by Broker.

This Offering is submitted subject to errors, changes, omissions, changes in price, market and other conditions. It contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that prospective purchasers may desire. It should be noted that any and all market analyses, estimates and projections contained in this offering are provided for general reference purposes only and are based on assumptions related to the general economy, competition, real estate market trends, and other factors beyond the control of the Seller or Broker. Such analyses, COLLIERS INTERNATIONAL estimates and projections are therefore subject to material variation, and may not be Ten Penn Center consistent with the views or assumptions held by other professionals. 1801 Market Street, Suite 500 Philadelphia, PA 19103 Photocopying or other duplication of this offering is not authorized. +1 215 925 4600 www.colliers.com/philadelphia

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 2 Table of Contents

Executive Summary Market Overview

14 Greater Philadelphia Area Overivew 4 The Offering 16 Philadelphia Fast Facts 5 Investment Highlights 18 Opportunity Zones 6 Area Overview 10 Zoning Summary 11 Site Images 12 Site Maps

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 3 Colliers International is pleased to offer for sale 442-62 N. 8th Street, an incredible The Offering development opportunity. Located within the East Callowhill neighborhood of the City of Philadelphia, this offering presents investors or developers a valuable opportunity to establish a foothold in an increasingly desirable and rapidly transforming area.

This asset is poised for redevelopment into a variety of uses including Residential Uses (single family townhomes, low rise apartments, condos), Charter School, Senior Housing/Independent Living, and more. Located within a Federal Opportunity Zone, the properties are designated by the federal government as areas eligible for preferential tax treatment on new investments.

EAST CALLOWHILL PORTFOLIODEVELOPMENT | OPPORTUNITYOFFERING MEMORANDUM | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 4 Investment Highlights

Exceptional Access Logical Location Primed for Infill Access is extremely convenient for pedestrians, transit riders and cars alike. The site is within a defined area bordered on all sides by the City’s most well Walkable and bikeable connections join the area to neighboring communities and established or rapidly growing neighborhoods - Old City, Northern Liberties local bike share Indego hosts multiple stations nearby. Spring Garden Subway and Spring Arts - making it “the hole in the donut.” The Waterfront, with Stations (both Market Frankford Line & Broad Street Line) are less than a fifteen its placemaking attractions and amenities, is just to the East and the much minute walk from the site, and bus routes 47 and 61 run directly in front of the anticipated Rail Park’s completed Phase 1 is to the West, with the proposed property. Major roadways I-95 and I-676, the Benjamin Franklin Bridge to New Viaduct Phase just a block behind the site. Jersey, and cross city arterial routes (Callowhill, Spring Garden and Columbus) can all be hopped on in just seconds by car.

Transformation Taking Hold in East Callowhill Desirable Zoning for Redevelopment The area is already seeing the effect of the rezoning change. Immediately to the North, the massive SONO mixed use redevelopment features both Target and Yards Brewery, A recent rezoning change took this area from an I-2 (Industrial) to CMX-3 with plans for a new building with 50 apartment units and 11,000 SF of retail space. (Community Commercial and Residential Mixed Use) designation and has Several large properties in the area have recently sold or are being actively marketed. opened up the possibility for residential, commercial, and office development.

Offering Summary ADDRESS 442-62 N. 8th Street, Philadelphia, PA

OWNER Ideal Tool & Equipment, Inc.

ASSESSED $1,764,500

LAND AREA SF/AC 31,000 / 0.71

BUILDING 15,720 sf

ZONING CMX-3

TAXES $24,516 (2019)

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 5 Area Highlights Several Neighborhoods Influence the Site:

Northern Liberties Fishtown Perpetually labeled as Philadelphia’s “up-and-coming” neighborhood Christened so due to its history as the epicenter of the city’s fishing for many years, the former manufacturing district of Northern Liberties industry, Fishtown has slowly but surely evolved into what is now has been transformed into a hearty, progressive, artist-heavy area, filled considered one of the most “millennial” places to live in the United with young millennials lured by affordable studio rents. This collection States. Bursting at the seams with vibrancy, the area has frequently of like-minded folk has given birth to a variety of bars, restaurants, and been cited as a premier example of neighborhood rebirth and boutiques, whose popularity has only been helped by the high walkability reinvigoration. The area has seen a steep escalation in rents over of the neighborhood and environment-friendly construction patterns. the past decade as it has drawn crowds with its thriving independent music scene, vast array of global foodstuffs, and easy access to the Bounded by Girard Avenue and Callowhill Street to the north and main arteries of Philadelphia’s transportation system. Nestled directly south, respectively, and the Delaware River and Sixth Street to the to the northeast of Northern Liberties, Fishtown’s yuppie scene is east and west, respectively, Northern Liberties has emerged as one of complemented by a strong demographic of empty-nesters, eager to Philadelphia’s top dining areas, and possesses a strong nightlife scene reside in the thick of modern culture. propped up by numerous craft beer establishments.

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 6 Old City Waterfront The charming Old City neighborhood is the heart of Philadelphia’s historic significance, and in some ways, the birthplace of American The Delaware River Waterfront, also known as Penn’s Landing, is politics and governance. The neighborhood is home to two of the just short walk from Old City and Historic Philadelphia Commercial most iconic landmarks in the United States – Independence Hall and development of the area is handled by the Delaware River Waterfront the Liberty Bell. Its historical importance is only emphasized by the Corporation, another nonprofit founded in 2009 to oversee the public presence of the National Constitution Center, a nonprofit, nonpartisan land along the Waterfront. institution devoted to explaining the founding documents of the United States. The area hosts a number of family-friendly attractions and events all year long, including Spruce Street Harbor Park, Screenings Under the Old City is also remarkable for being one of Philadelphia’s most Stars, and the Independence Seaport Museum. popular nightlife destinations, with a plethora of lounges, dive bars, and renowned restaurants at one’s disposal. The 3rd Street Corridor Prominent entertainment venues are open along the Waterfront, is home to countless galleries, boutiques, and locally owned business including the redevelopment of Cherry Street Pier – after a $4 million establishments. renovation, the Pier now boasts numerous entertainment amenities, including countless food vendors, a marketplace, artists, and an open- The Independence Mall has recently undergone significant renovations, air garden. Additionally, the food and entertainment aspects of the and The Collection at Independence promises to bring a mixed-use Philadelphia Piers, including the Philadelphia Marine Center, Morgan’s lifestyle center to the area, as well as technological and aesthetic Pier, and Dave & Busters, offer a variety of experiences for both upgrades throughout the complex’s common areas. children and adults.

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 7 East Callowhill District Transformation Recent & Projected Area Development

Phase 1 Complete Under Redevelopment

Purchased for On Mkt Rvdlpmnt

On Mkt Recent Acquisition for Future Development THE PHILADELPHIA CITY ARCHIVES Recent Acquisition for Future Development

Purchased for Redevelopment

Recent Acquisition for Future Development

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 8 Recent & Projected Area Development (cont’d)

SONO MIXED-USE DEVELOPMENT THE RAIL PARK Yards Brewing Company opened their 70,000-square-foot brewery and tap The much-anticipated transformation of the Reading Viaduct is officially underway. room in November 2017; the City of Philadelphia’s Archives Department opened The three-mile raised park spans from Center City to Fairmount Park and will link their 70,000-square-foot facility in April 2018; and Target opened their 10 neighborhoods and 50 city blocks. The first phase is complete—filled with 50,000-square-foot “urban format” retail store in August 2018. In 2019, pathways, greenery, and bench swings with amazing city views. Alliance will develop a ground-up, mixed-use building with 50 apartment units and 11,000 square feet of retail space.

SPRING ARTS LIBERTY ON THE RIVER Local developer Craig Grossman, in conjunction with the city’s Mural Arts A six-building development by Barton Partners that would transform a section of Program, has commissioned artists to install nine permanent murals composing the waterfront off Columbus Boulevard with housing, retail, and public space. The a revolving outdoor gallery to help define the Spring Arts District (the stretch first phase in the project went in front of the Civic Design Review (CDR) early this between 8th and 12th, and from Noble to Spring Garden Streets) highlight month to mostly positive response. The buildings, which will reach about 240 feet several properties under redevelopment there. high, will include a hotel, senior living, multi-family homes, retail, open space, and access to the Delaware River Trail, which runs through the property.

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 9 CMX-3 Zoning Summary

Bonus FAR = Up to 300% The Philadelphia City Council Bill 160920 passed in December of 2016 amended the buildable height available to a developer from Bonus Categories: the 500% FAR allocated in normal CMX-3 districts to a 65’ height • Mixed Income Housing limit. With traditional floors measuring 10’ in height, this property • Green Building could be developed into a 6-story mixed-use asset “by right”. This includes all uses ranging from multi-family to office to retail.

Dimension Standards Max. Occupied Area Lot: Intermediate: 75%; Corner: 80%

Min. Side Yard Width 8 ft. if used for building with dwelling units

Max. FAR 500%; up to an additional 300% with bonuses Max. Occupied Area is 75% of the Lot

Side Yard 8’ if used for dwellings

BY RIGHT USES: Uses permitted as of right: Household Living; Sales; Wearing Apparel and Accessories; Animal Television, and Recording Services; Visitor Group Living; Recreation; Day Care; Educational Services (except boarding and other services); Accommodations; Personal Vehicle Sales and Facilities; Fraternal Organization; Hospital; Assembly and Entertainment* (except Rental; Personal Vehicle Repair and Maintenance; Libraries and Cultural Exhibits; Religious Amusement Arcade, Casino, and Pool or Billiards Vehicle Fueling Station*; Vehicle Equipment and Assembly; Safety Services; Transit Station; Room); Building Services; Business Support; Supplies Sales and Rental; Artist Studios and Utilities and Services-Basic*; Wireless Service Eating and Drinking Establishment; Financial Artisan Industrial; Research and Development; Facility; Office; Building Supplies and Equipment; Services (except Personal Credit Community Garden; Market or Community- Consumer Goods (except Drug Paraphernalia Establishments); Funeral and Mortuary Services; Supported Farm and Guns); Medical Marijuana Dispensary; Food, Maintenance and Repair of Consumer Goods; *Uses requiring special exception approval Beverage, and Groceries; Pets and Pet Supplies; Surface Parking*; Structured Parking; Personal Sundries, Pharmaceuticals, and Convenient Services (except Body Art Services); Radio,

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 10 Site Images

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 11 Site Maps

USA MID ATLANTIC REGION NEW PHILADELPHIA COUNTY YORK

PENNSYLVANIA OHIO PENNSYLVANIA NEW JERSEY Philadelphia County Center City MARYLAND Philadelphia D.C. WEST VIRGINIA VIRGINIA DELAWARE

CENTER CITY PHILADELPHIA

CENTRAL BUSINESS DISTRICT

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 12 Site Aerial

WITHIN 1/2 MILE WITHIN 1 MILE WITHIN 2 MILES GIRARD AVENUE FISHTOWN Girard 8,915 36,638 207,209 Station people people people 4,397 19,505 99,007 households households households $112,532 $95,645 $84,222 average HHI average HHI average HHI

NORTHERN LIBERTIES

FUTURE RAIL PARK

SPRING GARDEN STREET Spring Garden Station

SPRING

ARTS D

E L U O B DELAWARE RIVER S U B

FRANKLIN SQUARE PARK BEN FRANKLIN BRIDGE (To New Jersey) WATERFRONT

CHINA OLD TOWN CITY

NORTH

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 13 Greater Philadelphia Overview

Greater Philadelphia is a major, natural hub of the Northeast Corridor. It is situated on the Delaware River at the center of the most prosperous, densely populated region 1st millennial growth rates in America. More than 100 million people are within a one-day drive of Philadelphia. The Greater Philadelphia market area spans thirteen counties in Southeastern Pennsylvania, Southern New Jersey and Northern Delaware. Philadelphia boasts strong economic fundamentals. The Philadelphia Region ranks ninth in terms of gross 1st in housing value and opportunity metropolitan product, fifth in terms of personal income and is the nation’s fourth among top metros largest media market. The strength and desirability of Greater Philadelphia is characterized by its economic diversity and population density. MILLION lowest office rental rates Philadelphia is Pennsylvania’s largest city, the business capital of the state, and ranks 2nd among top metros second in size only to New York City on the East Coast. Within a 300-mile radius is an intermediate market containing 20% of the United States population and 25% of its disposable income. Philadelphia is 130 miles northwest of Washington, DC and 90 largest metro in the Northeast, with miles southwest of New York City. 3rd $432 billion in GRP

4th largest media market

largest population, with 6.3 5th million people

Key Industries Source: Select Greater Philadelphia Council

Energy Financial & Information Innovation & Life Sciences Logistics Manufacturing Professional Technology Entrepreneurship & Healthcare Services

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 14 World Class Transportation Infrastructure

PORT The Philadelphia Metro Area has three major ports: The Port of Philadelphia (PhilaPort), South Jersey Port System and The Port of Wilmington, Delaware. These ports create over $1 billion in business revenue on an annual basis and are major economic drivers in the region. With the completion of the expansion of the Panama Canal, a more efficient trading route between the East Coast and the western region of South America along with East Asia has opened up, RAIL Philadelphia is at the heart of the Northeast Corridor resulting in larger vessels coming to the East Coast. rail system. Amtrak’s 30th Street Station, one of America’s A comprehensive capital investment program of more than $300 finest transportation hubs and a historical landmark in million has been allotted to improve the Port of Philadelphia’s infra- Philadelphia, plays host to 20,000 commuters daily and is the structure, warehousing, and equipment will double container capac- third busiest Amtrak station in the U.S. ity. The Port Development Plan includes a deepening of the Dela- Two Class 1 freight railroads — CSX and Norfolk Southern ware River main channel to 45 feet mean low water to enhance the provide direct service to the Port of Philadelphia. capacity of Philadelphia’s port to receive larger Post-Panamax vessels boost the region’s share of imports and exports, create more Center City Philadelphia is accessible to all surrounding jobs and enable Pennsylvania to compete globally. Pennsylvania counties via the Southeastern Pennsylvania Transportation Authority (SEPTA). One of the busiest net- works in the country, with annual ridership of over 300 million, SEPTA is one of only two truly multi-modal transit AIR The Philadelphia International Airport (PHL) serves as the properties in the U.S. with bus, subway, high speed rail, principal gateway for the seventh largest population in the United trackless trolley, Regional Rail and Paratransit vehicles. The States. PHL is in the top 10 North American airports in number of PATCO High Speed Line links the Southern New Jersey takeoffs and landings. Additionally, there are five other international suburbs with Center City Philadelphia. airports within a 90-minute drive. With almost a half a million A $1 billion extension of the Norristown High Speed Line will takeoffs and landings, Philadelphia International Airport ranked as link King of Prussia, Center City and University City, Greater the 19th busiest in the U.S. PHL averaged 501 daily departures to Philadelphia’s three biggest employment centers. Construction more than 130 cities through 29 carriers in 2017. on the extension is slated to commence in 2019, with a projected completion date of 2023.

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 15 Greater Philadelphia Overview

CITY OF FOOD According to The Washington Post, the City of Brotherly Love knows how to Philadelphia Fast Facts cook, eat, and drink, ranking Philadelphia #6 on a list of the 10 Best Food Cities in It is becoming well known that residents can achieve a high quality of life America, and Zagat ranked the city #11 here with a relatively low cost of living compared to top metros. Recent on a list of the 30 Most Exciting Food census statistics show NY to Philadelphia mobility to be one of the largest Cities in America in 2017. metro-to-metro flows in the country.

TALENT THEATRE According to a study done by Trulia, Philadelphia is the USA Today ranked Philadelphia as one of the top theater cities, and it comes as no number one city for millennials because they are more surprise that it hosts America’s oldest playhouse still in business, the Walnut Street likely to be homeowners, make more money, and have Theatre, which is more than 200 years old. While it is rooted in a traditional more jobs than their older peers aged 33 to 55. A hot appreciation of theatre and regularly houses the greats, Philadelphia commits itself to spot for smart millennials, Philadelphia has the largest its burgeoning artists. It’s annual festival, the Live Arts Festival and Philly Fringe, % growth in millennials among the nation’s 30 largest accomplishes this by showcasing an array of independent productions. cities (and 39% hold a degree vs 33% nationally). Greater Philadelphia Overview

SPORTS SCHOOL SYSTEM Philadelphia is one of few U.S. cities with a professional franchise in six major league sports. Most of Philly’s pro teams play within a The Philadelphia area is home to public school few miles of Center City, in South Philadelphia. There you’ll see systems, and award-winning private schools. the NFL’s 2018 Superbowl Champion Eagles at Lincoln Financial According to new list from U.S. News & World Field; the MBA’s Phillies at Citizens Bank Park; NBA’s 76ers at Report (2018), some of the best schools in the Wells Fargo Center; and NHL’s Flyers. Philadelphia sports fans’ nation include several Philly high schools. pride and spirit is legendary.

ECONOMY Philadelphia boasts strong economic fundamentals. The Region ranks ninth in terms of WORLD HERITAGE CITY gross metropolitan product, fifth in terms of personal income, and Philadelphia joined the Organization of World Heritage Cities in November 2015, thereby is the nation’s fourth largest becoming the first “World Heritage City” in the United States. The city achieved this media market. The strength and designation because of the rich array of historic buildings and cultural sites located desirability of Greater Philadelphia throughout the city, including 67 National Historic Landmarks. The World Heritage City is characterized by its economic designation elevates Philadelphia, giving it a new status among international cities. diversity and population density.

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 17 Opportunity Zones What qualifies a property to benefit from being in an Opportunity Zone?

What is an opportunity zone? Property must have been purchased after 2017 but Opportunity Zones are special districts of land designated by state and federal governments before 2021 to qualify for tax advantages. as areas eligible for preferential tax treatment on new investments. A feature of the Tax Cuts and Jobs Act added to the tax code in December 2017, Opportunity Zones were created to spur private investment and job creation by offering tax advantages on capital gains from the Tangible property must be used in active business or sale of properties or businesses located within certain “economically distressed” trade within an Opportunity Zone. communities. Property’s original use must begin with or “substantially What is a Qualified Opportunity Fund? improve” a certified Opportunity Zone Entity. Qualified Opportunity Funds, more simply known as “Opportunity Funds,” are primary investment vehicles used to invest in Opportunity Zone properties or businesses that allow investors to reap tax benefits. To qualify, an investor must reinvest capital gains into such a Certain businesses, such as gambling establishments, fund within 180 days of realizing those gains, which are then reinvested into properties golf courses, country clubs, or businesses primarily located within an Opportunity Zone. In turn, these funds must certify twice a year that 90% involved in the sale of alcohol do not qualify. of its assets are held in an Opportunity Zone, or risk paying a penalty.

One of the biggest advantages of these funds is that there is no Improvements equal to the cost of the building acquisition, but not land, must be made within 30 limit to the amount of capital gains allowed to be reinvested via an months. Opportunity Fund.

THREE PRIMARY TAX ADVANTAGES What qualifies an area as an Opportunity Zone? 25% 20% 80% Census tracts totaling Poverty rate exhibited Median income 25% of any given state by selected census must not exceed DEFER REDUCE PAY ZERO may be designated an tracts must reach at 80% of metro or payment of capital gains total capital gains taxes tax on gains earned from Opportunity Zone least 20% state median tax until 2026, by placing by up to 15% after seven appreciation of an gains into an Opportunity years of investment Opportunity Fund after 10 Opportunity Zone designations remain in Fund within 180 days (10% after five years) years of investment 2028 effect through 2028

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 18 Offering Procedure

Offering Terms 400-10 N. 6th Street & 621-39 Callowhill Street, Philadelphia, PA (“The Property”) is being offered for sale. All investors should base their offer on an “As-is, Where Is” condition of the Property. In order to assist with underwriting, qualified purchasers will be provided access upon request to an online Due Diligence data room containing property specific information. Property Tours & Additional Information For additional information and a tour of the market and the property please contact:

EXCLUSIVE REPRESENTATIVE: DEBT & EQUITY ADVISOR: COLLIERS INTERNATIONAL MICHAEL BARMASH BOB BECKMAN Ten Penn Center S.r Managing Director/Principal Senior Finance Director 1801 Market Street, Suite 500 direct +1 215 928 7519 direct +1 215 928 7508 Philadelphia, PA 19103 mobile +1 267 235 5306 mobile +1 215 850 3422 +1 215 925 4600 [email protected] [email protected] www.colliers.com/philadelphia Offer Process We request that interested parties submit a formal Letter of Intent (“LOI”) to the offices of the Exclusive Advisors, Michael Kahan and Michael Barmash of Colliers International, outlining the relevant business points by which they intend to purchase the Property including:

> Purchase Price > Closing Period

> Due Diligence Period And Contingencies > Internal Approvals

> Deposit > Company Background And Financial Capacity

> Terms - All Cash Or Subject To Financing Offering Summary

Colliers International is pleased to offer for sale 442-62 N. 8th Street, an incredible development opportunity. Located within the East Callowhill neighborhood of the City of Philadelphia, this offering presents investors or developers a valuable opportunity to establish a foothold in an increasingly desirable and rapidly transforming area.

Logical Location Primed for Infill Exceptional Access

Transformation Taking Hold Desirable Zoning for in East Callowhill Redevelopment PROPERTY DATA Address 442-62 N. 8th Street, Philadelphia, PA Owner Ideal Tool & Equipment, Inc.

Exclusive Representatives: Debt & Equity Advisor: Assessed $1,764,500 Land Area SF/AC 31,000 / 0.71 MICHAEL BARMASH BOB BECKMAN COLLIERS INTERNATIONAL S.r Managing Director/Principal Senior Finance Director Ten Penn Center, 1801 Market Street, Suite 500 Building 15,720 sf direct +1 215 928 7519 direct +1 215 928 7508 Philadelphia, PA 19103 CMX-3 mobile +1 267 235 5306 mobile +1 215 850 3422 +1 215 925 4600 Zoning [email protected] [email protected] www.colliers.com/philadelphia Taxes CMX-3

EAST CALLOWHILL DEVELOPMENT OPPORTUNITY | OFFERING SUMMARY

Materials contained in this Investment Offering are confidential, furnished solely for the purpose of considering the “AS IS” acquisition of 442-62 N. 8th Street, Philadelphia, PA (the “Portfolio”) described herein and are not to be used for any other purpose or to be made available to any other person without the express written consent of Colliers International and Owner. No representations, expressed or implied are made as to the foregoing matters by Owner, Owner’s property management/ leasing agent, Colliers or any of their officers, employees, affiliates and/or agents.