FOR SALE | INDUSTRIAL HIGH QUALITY INDUSTRIAL FLEX SPACE 600 Glen Ave | Salisbury, MD 21804

PRESENTED BY: PROPERTY HIGHLIGHTS

JOHN MCCLELLAN, CCIM Senior Advisor 147,000 SF of High Quality Industrial Flex Space 410.543.2440 [email protected] Motivated & Affordable Work Force In Place HENRY HANNA, CCIM, SIOR Convenient Access to Route 13 & Route 50 Council Chair Of Industrial Properties 410.543.2420 [email protected] 10 Minutes to Largest Regional Airport in Maryland CHRIS PEEK, CCIM High Security Infrastructure In Place Advisor 410.547.2427 [email protected] Regional Proximity to NASA/NOAA/US Navy Flight Facility

All SVN® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. EXECUTIVE SUMMARY HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

Executive Summary

SALE OVERVIEW PROPERTY DESCRIPTION

SALE PRICE: Subject To Offer The Salisbury, Maryland Labinal Property is a 147,000 SF free-standing high quality manufacturing facility situated on an approximately 12 acre industrially zoned site. Access time to major transportation vectors RT 50 LOT SIZE: 12.01 Acres and RT 13 are 2 minutes and 5 minutes respectively with Salisbury Wicomico Regional Airport, the second largest in Maryland, only 10 minutes away. BUILDING SIZE: 147,000 SF The building envelope is 506’ x 292’ with a 147,000 SF floorplate including 15,810 SF of office area and additional storage space on 2nd tier mezzanine DOCK HIGH DOORS: 5 sections. The plant enjoys a heavy, sophisticated electrical distribution system and a sophisticated HVAC system with integrated humidity control. CEILING HEIGHT: 10-30 FT The facility is fully fenced and has high level security throughout. The facility YEAR BUILT: 1963 is well suited for modern manufacturing applications.

RENOVATED: 2006

ZONING: Industrial

Beaglin Park Dr & CROSS STREETS: Civic Ave.

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 2 ADDITIONAL PHOTOS HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

Aerial View

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Aerial View

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 4 ADDITIONAL PHOTOS HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

Satellite Map

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 5 INDUSTRIAL MAP HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

Industrial Map

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 6 SITE PLAN HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

Site Plan

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Exterior Photos

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Interior Photos

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 9 ADDITIONAL PHOTOS HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

Interior Photos

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 10

600 Glen Ave Salisbury, Maryland Wicomico County

SIZE: Approximately 147,000 square feet on the main floor with 16,000 SF of storage on the second floor mezzanine areas.

NUMBER OF BUILDINGS: Approximately 506' x 292 ' irregular

DIMENSIONS: Approximately 12.07 acres for the site

DATE OF CONSTRUCTION: 1963 through 2006 (Construction of the west wing section)

CONDITION OF PROPERTY: Excellent

CONSTRUCTION: Floors - 5" heavy reinforced concrete Columns - Steel H columns Walls - Combination concrete block and insulated metal panel Roof - Combination built-up and single ply membrane

COLUMN SPACING: 30' x 40'

CEILING HEIGHT: Varies 10' to 30'

LIGHTING: Combination fluorescent and metal halide

WATER: Supplied by City of Salisbury

SEWER: Supplied by City of Salisbury; 10" main

POWER: Supplied by Delmarva Power; two (2) 4000 Amp, 2500 KVA services and one (1) 1200 Amp, 5000 KVA service. Central Server Room Back-up power by an 80KW generator run on natural gas.

GAS: Supplied by Chesapeake Utilities; 6" service

HEAT: Two (2) Cleaver Brooks oil-fired boilers. Pilot lights on boilers are run on propane. The west wing heating system hasn’t been operational in 20 years and would require significant work to return system to full operation.

AIR CONDITIONING: West Wing- 3 X 132 Ton Carlyle HVAC compressors with external Evapco condensers service west wing manufacturing, maintenance, braid room, potting room, cafeteria & kitchen.

Office Areas- The front and central office areas are serviced by 5 roof-top HVAC units.

IT Server Rooms- The front server room is serviced by a single roof-top HVAC. The central server room next to the warehouse is serviced by 4 roof-top HVAC units.

East Wing- Is serviced by 8 roof-top HVAC units.

SPRINKLER: Landscaped areas of property are watered by an irrigation system supplied by 2 agricultural wells.

COMPRESSED AIR: 80-125 PSI Compressed Air is provided throughout the plant by a single Sullair compressor, backed-up by an older Gardner Denver compressor.

FRONT OFFICE: Approximately 2,513 square feet of office space with carpet and vinyl flooring, recessed fluorescent lighting and 2' x 4' acoustical suspended ceilings.

SUPPORT DEPARTMENTS OFFICE Approximately 13,297 Finish is carpet, suspended 2' x 4' acoustical tile ceiling, 2' x 4' recessed fluorescent lighting.

TRUCK LOADING: Two (2) dock doors with seals and levelers at the shipping area, plus two (2) dock doors at the maintenance pit and one 8’X8’ dock door on the west wing.

PARKING: 432 paved automobile spaces, 9 motorcycle spaces and 11 ADA spaces

FORMER USE: Electrical Harnesses Manufacturing

ZONING: Industrial

TRANSPORTATION: Two blocks from Rt. 50 and 2.5 miles from the intersection of Rtes. 50 and 13.

MISCELLANEOUS: Security Property is surrounded by a 6’ high chain link fence. Security booths at both entrance and exit. Entrance gate requires badge swiped to enter. Exit gate is activated by presence of vehicle. Security cameras are installed on multiple interior and exterior locations. Entrances to building are alarmed, and main employee entrance requires numeric keypad entry.

Fire Safety Building is protected by sprinklers throughout the facility supplied by a main fire pump. Fire alarm system is remotely monitored by Simplex Grinnell.

Rest Rooms The building has 9 rest rooms, including 1 handicapped rest room.

Cafeteria/Kitchen The building has a cafeteria, kitchen and break room.

Drainage Pond Building roof & paved areas drain to a drainage pond with fountain at the front of the property.

Major Upgrades & Component Replacements HVAC Replacements- Replaced #1 & #3 HVAC compressors in 2013. Replaced #1 HVAC compressor again in 2015. Roof Top HVAC Replacements- Replaced #10 RTU compressor in 2014. Replaced 2 additional HVAC compressors in 2015. Entrance Gate Operator- Replaced Entrance Gate Operator in 2014. Fire Pump- Replaced Fire Pump in 2013

Parking Lot- Sealed and restriped parking lot in 2014. East Wing Rest Rooms- Renovated East Wing Rest Rooms in 2013. DEMOGRAPHICS MAP HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

Demographics Map

POPULATION 10 MILES 20 MILES 30 MILES TOTAL POPULATION 110,689 192,662 337,065 MEDIAN AGE 34.6 36.4 38.6 MEDIAN AGE (MALE) 33.1 35.1 37.0 MEDIAN AGE (FEMALE) 35.6 37.4 39.8

HOUSEHOLDS & INCOME 10 MILES 20 MILES 30 MILES TOTAL HOUSEHOLDS 40,972 69,783 124,505 # OF PERSONS PER HH 2.7 2.8 2.7 AVERAGE HH INCOME $64,597 $63,554 $62,295 AVERAGE HOUSE VALUE $215,338 $226,870 $247,708

* Demographic data derived from 2010 US Census

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 14 Brief Economic Facts WICOMICO COUNTY, MARYLAND

New York With its strategic location along the East Coast and situated at the crossroads Washington, DC of Maryland’s Lower Eastern Shore, Baltimore Wicomico County serves as a hub for commerce, industry, health care, education and transportation. Situated Washington, DC halfway between the Atlantic Ocean and the Chesapeake Bay, cultural, recreational Wicomico County, on and civic amenities add to the lure of Maryland’s Eastern Shore, Salisbury Wicomico, offering citizens a lifestyle borders the Chesapeake Bay on the west and Delaware on second to none. the north. Wicomico is the number two agricultural producing county in Maryland, and ranks third in broiler chicken production. Popular crops include corn, Wicomico’s 2,520 businesses employ 36,300 workers; nearly 50 soybeans, wheat and vegetables. In addition to agriculture and of these businesses have 100 or more workers. Major employers poultry, health care, educational sectors and a diverse industrial are Chesapeake Shipbuilding, Delmarva Power, Jubilant Cadista base offer stability and a firm foundation for Wicomico’s Pharmaceuticals, K&L Microwave, MaTech, Peninsula Regional economy. Jubilant Cadista Pharmaceuticals recently announced Medical Center, Perdue Farms, Salisbury University and Tishcon. the addition of 200 new jobs associated with the expansion of Wicomico County has a 4,220-acre State Enterprise Zones in its Salisbury headquarters and manufacturing facility. Salisbury and a 129-acre zone in Fruitland.

LOCATION POPULATION2,3 Driving distance from Salisbury: Miles Kilometers Wicomico County Lower Households Population Eastern Shore* Maryland Atlanta, Georgia 692 1,114 2000 32,218 84,644 155,934 5,296,486 Baltimore, Maryland 102 165 2010 37,220 98,733 176,657 5,773,552 Boston, Massachusetts 430 692 2020** 41,725 109,200 193,050 6,224,550 Chicago, Illinois 793 1,276 New York, New York 219 353 *Somerset, Wicomico and Worcester counties **Projections Philadelphia, Pennsylvania 131 210 Selected places population (2010): Salisbury 30,343; Fruitland Pittsburgh, Pennsylvania 324 521 4,866; Delmar 3,003; Pittsville 1,417; Hebron 1,084 Richmond, Virginia 212 341 Washington, DC 114 183 POPULATION DISTRIBUTION2,3 (2014) CLIMATE AND GEOGRAPHY1 Age Number Percent Yearly Precipitation (inches) 45.2 Under 5 6,030 5.9 Yearly Snowfall (inches) 6.0 5 - 19 21,251 20.9 Summer Temperature (ºF) 76.1 20 - 44 34,100 33.6 Winter Temperature (ºF) 38.7 45 - 64 25,539 25.2 Days Below Freezing 76.0 65 and over 14,619 14.4 Land Area (square miles) 379.1 Total 101,539 100.0 Water Area (square miles) 14.4 Median age 35.5 years Shoreline (miles) 361 Elevation (feet) sea level to 73

2016 Brief Economic Facts WICOMICO COUNTY, MARYLAND

LABOR AVAILABILITY3,4,5 (BY PLACE OF RESIDENCE) EMPLOYMENT4 (2014, BY PLACE OF WORK) Labor Mkt. Estab- Annual Avg. Emp. Avg. Wkly. Civilian Labor Force (2015 avg. - prelim.) County Area* Industry lishments Empl. % Wage Total civilian labor force 50,564 182,845 Federal government 28 291 0.7 $1,178 Employment 47,124 171,196 State government 13 2,772 6.3 819 Unemployment 3,439 11,649 Local government 47 4,762 10.8 779 Unemployment rate 6.8% 6.4% Private sector 2,524 36,337 82.3 746 Residents commuting outside the Number Percent Natural resources and 31 296 0.7 657 county to work (2010-2014) 11,616 24.9% mining Employment in selected occupations (2010-2014) Construction 279 1,851 4.2 866 Management, business, science and arts 16,388 34.5% Manufacturing 99 3,627 8.2 783 Service 9,478 19.9% Trade, transportation 615 9,744 22.1 679 Sales and office 11,374 23.9% and utilities Production, transp. and material moving 5,795 12.2% Information 22 517 1.2 1,043 * Wicomico, Somerset and Worcester counties, MD and Sussex County, DE Financial activities 258 1,615 3.7 924 Professional and business 424 4,178 9.5 937 services MAJOR EMPLOYERS6,7 (2015) Education and health 315 8,482 19.2 938 Employer Product/Service Employment services Peninsula Regional Med. Ctr. Medical services 2,900 Leisure and hospitality 244 4,518 10.2 272 Salisbury University Higher education 1,800 Other services 237 1,509 3.4 487 Perdue Farms HQ / poultry processing 1,600 Total 2,612 44,162 100.0 757 Walmart / Sam's Club Consumer goods 750 Includes civilian employment only Wor-Wic Comm. College Higher education 431 Jubilant Cadista Pharma. Generic pharmaceuticals 400 HOURLY WAGE RATES4 (2015) Labinal Salisbury Electronics assembly 345 Selected Occupations Median Entry Experienced Genesis HealthCare / Salis- Nursing care 340 Accountants $24.25 $16.00 $31.50 bury Rehab. and Nurs. Ctr. Bookkeeping/accounting clerks 16.00 12.00 19.00 Delmarva Power Energy products and svcs. 300 Computer user support specialists 20.25 14.25 25.25 K&L Microwave Electronics assembly 265 Customer service representatives 13.50 10.00 17.50 Dove Pointe Services for the disabled 250 Electronics engineering technicians 36.75 20.25 40.75 SHORE UP! Social services 250 Freight, stock and material 12.25 9.50 17.75 Three Lower Counties Social services 250 movers, hand BBSI Staffing services 249 Industrial truck operators 14.75 9.00 16.50 Boscov's Consumer goods 249 Inspectors, testers, sorters 13.75 9.25 19.75 Pepsi-Cola Bottling Beverages 249 Maintenance workers, machinery 16.00 12.00 19.25 Verizon Telecommunications 249 Network administrators 31.75 17.00 39.75 Piedmont/American Airlines HQ / airline 220 Packaging and filling machine 9.25 8.25 10.50 McDonald's Restaurants 185 operators Delaware Elevator HQ / elevator installation 170 Packers and packagers, hand 9.75 8.25 11.00 Macy's Consumer goods 160 Secretaries 14.75 10.50 18.00 Darden Restaurants Restaurants 150 Shipping/receiving clerks 13.00 9.75 14.75 Giant Food Groceries 150 Team assemblers 13.50 9.75 16.75 Lowe’s Home improvement prods. 150 Telemarketers 11.50 8.50 14.25 MaTech Precision machining 150 Wages are an estimate of what workers might expect to receive on the Lower Eastern Shore (Somerset, Wicomico and Worcester counties) and may vary by Sears / Kmart Consumer goods 150 industry, employer and locality Excludes post offices, state and local governments; includes higher education Brief Economic Facts WICOMICO COUNTY, MARYLAND

SCHOOLS AND COLLEGES3,8 INCOME3 (2010-2014) Educational Attainment - age 25 & over (2010-2014) Percent Households High school graduate or higher 87.0% Distribution Wicomico Co. Maryland U.S. Bachelor’s degree or higher 27.7% Under $25,000 23.4 15.4 23.2 Public Schools $25,000 - $49,999 24.3 17.9 23.7 Number: 16 elementary; 5 middle/combined; 3 high $50,000 - $74,999 19.6 17.2 17.8 Enrollment: 14,790 (Sept. 2015) $75,000 - $99,999 12.4 13.4 12.2 Cost per pupil: $12,610 (2012-2013) $100,000 - $149,999 13.0 18.1 13.0 Students per teacher: 13.2 (Oct. 2014) $150,000 - $199,999 3.8 8.9 5.1 High school career / tech enrollment: 963 (2015) $200,000 and over 3.4 9.1 5.0 High school graduates: 873 (July 2014) Median household $52,301 $74,149 $53,482 Nonpublic Schools Average household $68,847 $97,135 $74,596 Number: 16 (Sept. 2015) Per capita $26,298 $36,670 $28,555 Higher Education Enrollment (‘15) Degrees (‘14) Total income (millions) $2,511 $209,422 $8,668,940 2-year institution 2,3,10 Wor-Wic Community College 3,137 423 HOUSING 4-year institution Occupied Units (2010-2014) 36,479 (63.1% owner occupied) Salisbury University 8,671 2,157 Median Housing Transactions (2014) Units Selling Price The University of Maryland Eastern Shore is located in neighboring Somerset County. All arms-length transactions 728 $150,000 All multiple-listed properties* 921 $135,975 *Excludes auctions and FSBO TAX RATES9 Wicomico Co. Maryland 6 Corporate Income Tax (2016) none 8.25% BUSINESS AND INDUSTRIAL PROPERTY Base – federal taxable income Industrial sites in the county range from one to 300 acres. Northwood Industrial Park in the Salisbury area has a total of Personal Income Tax (2016) 3.20% 2.0%-5.75% * 350 acres with 50 acres available. Base – federal adjusted gross income *Graduated rate peaking at 5.75% on taxable income over $300,000 Air Business Center (ABC) has sites with direct runway access for air-related business uses. Long-term land leases are Sales & Use Tax (2016) none 6.0% available. Exempt – sales for resale; manufacturer’s purchase of raw materials; Fruitland Industrial Park has a total of 110 acres with municipal manufacturing machinery and equipment; purchases of materials and services and rail access. equipment used in R&D and testing of finished products; purchases of computer programs for reproduction or incorporation into Westwood Commerce Park, at the intersection of U.S. Route another computer program for resale 50 and the Salisbury Bypass, offers 260 acres served by Salisbury city water and sewer, as well as natural gas and high- Real Property Tax (FY 16) $0.9516 $0.112 speed voice and data lines. Effective rate per $100 of assessed value Salisbury Airport Incubator provides below market lease rates In addition to this rate, there are some miscellaneous taxes and/ with flexible terms to technology-oriented firms. or special taxing areas in the county; in an incorporated area, a municipal rate will also apply Business Incubator Salisbury Airport Incubator, Salisbury Business Personal Property Tax (FY 16) $2.1715 none Market Profile Data(2015) Low High Average Rate per $100 of depreciated value Exempt – manufacturing and R&D machinery, equipment, materials Land – cost per acre and supplies; manufacturing and R&D inventory Industrial $17,000 $125,000 $40,000 Partially exempt – warehousing inventory (86% exempt; being phased out at 7% per year) Office $22,000 $250,000 $60,000 In an incorporated area, a municipal rate will also apply; municipal Rental Rates – per square foot exemptions may be available Warehouse / Industrial $2.00 $7.00 $4.50 Major Tax Credits Available Flex / R&D / Technology $5.00 $14.00 $9.50 One Maryland, Enterprise Zone, Job Creation, R&D, Biotechnology and Cybersecurity Investment, Arts & Class A Office $6.50 $15.00 $11.00 Entertainment District Brief Economic Facts WICOMICO COUNTY, MARYLAND

TRANSPORTATION UTILITIES Highways: U.S. 13 and U.S. 50 Electricity: Delmarva Power and Choptank Electric Rail: Norfolk Southern Railway Cooperative, Inc.; customers of investor-owned utilities and Truck: 67 local and long-distance trucking establishments are major cooperatives may choose their electric supplier located on the Lower Eastern Shore Gas: Natural gas supplied by Chesapeake Utilities Corporation; Water: Wicomico River, 14 ft. channel at Salisbury; Port of customers may choose their gas supplier Salisbury is the second largest in Maryland; also served by the Water: Municipal systems in Delmar, Fruitland, Hebron, Pitts- Port of Baltimore, 50’ channel; a leading U.S. automobile and ville, Salisbury, Sharptown and Willards break-bulk port; seven public terminals including the state-of- Sewer: Municipal systems in Delmar, Fruitland, Hebron, Pitts- the-art Intermodal Container Transfer Facility ville, Salisbury, Sharptown, Willards and Air Business Center Air: The Salisbury-Ocean City Wicomico Regional Airport, Telecommunications: Predominant local carrier - Verizon 4.5 miles east of Salisbury, offers runway lengths of 5000’ Maryland; long distance carriers - AT&T, Verizon, Sprint Nextel and 6400’, a full instrument landing service (ILS), aviation fuel, and others; AT&T, Verizon and Sprint Nextel PoPs are located charter service, and an industrial park with runway access; in Salisbury commercial passenger service provided by USAirways Express to Philadelphia and Charlotte; airport is home to numerous corporate clients, a small business incubator and a FedEx distribution center; UPS has a regional distribution center in GOVERNMENT11 Salisbury County Seat: Salisbury Government: County executive; seven council members (two elected at large and five from districts) for four-year terms; RECREATION AND CULTURE charter form of government allows for the separation of the Parks and Recreation: Five state parks provide camping and executive from the legislative branch; lawmaking powers are natural beauty; other activities include swimming, fishing– vested in an elected legislative body including deep sea fishing–boating, golfing, skeet, trap and Robert L. Culver, Jr., County Executive 410.548.4801 silhouette shooting, hiking, biking, canoeing, bird watching, and John T. Cannon, President, County Council 410.548.4696 country and yacht club activities Website: www.wicomicocounty.org Sports: Collegiate athletic events, tennis and professional golf County Bond Rating: AA+ (S&P); Aa2 (Moody’s); AA (Fitch) tournaments; horse racing (trotting) at Ocean Downs; a Hunt Club/Pony Club; Wicomico County is home to the Delmarva Salisbury-Wicomico Economic Development, Inc. Shorebirds, a Class A minor league affiliate of the Baltimore David Ryan, Executive Director Orioles One Plaza East, Suite 501 • P. O. Box 4700 Cultural: Summer band, big band, and rock music concerts; Salisbury, Maryland 21803 national country western shows; the Salisbury Symphony; Telephone: 410.749.1251 dinner theater plays; a Council of Arts serves the area, as does Email: [email protected] the largest civic center on the Delmarva Peninsula www.swed.org Arts & Entertainment District: Salisbury Sources: Attractions: Ward Museum of Wildfowl Art, antique auto clubs 1 National Oceanic and Atmospheric Administration (1981-2010 normals); and shows, and a first-class zoo Maryland Geological Survey 2 Maryland Department of Planning Events: Salisbury Festival, Pork in the Park, Autumn Wine Festival, Good Beer Festival celebrating craft beers, World 3 U.S. Bureau of the Census 4 Maryland Department of Labor, Licensing and Regulation, Office of Workforce Wildfowl Carving Show, and tours of historic homes Information and Performance 5 U.S. Bureau of Labor Statistics 6 Salisbury-Wicomico Economic Development, Inc. 7 Maryland Department of Commerce 8 Maryland State Department of Education; Maryland Higher Education Commission 9 Maryland State Department of Assessments and Taxation; Comptroller of the Treasury 10 Maryland Association of Realtors 11 Maryland State Archives; Maryland Association of Counties

State of Maryland Financing & Incentives

Small Business Assistance Long-Term Guaranty Program – Provides loan guarantees and interest rate subsidies.

Credit Enhancements Maryland Industrial Development Financing Authority MIDFA encourages private sector investments with insurance and the issuance of tax-exempt and taxable revenue bonds. Insurance reduces the lender’s credit risk. All projects must be in a Priority Funding Area

Tax Incentives Biotechnology Investment Incentive Tax Credit - The BIITC provides income tax credits to investors in Qualified Maryland Biotechnology Companies (QMBCs). The value of the credit is equal to 50% of an eligible investment made in a QMBC during the taxable year. The maximum amount of the credit cannot exceed $250,000 for investors. If the credit exceeds the tax liability, the remaining credit is refundable. The program has a cap and credits are awarded on a first-come, first-served basis.

Cybersecurity Investment Incentive Tax Credit - CIITC provides a refundable income tax credit to Qualified Maryland Cybersecurity Companies (QMCCs) that secure investment from an investor. QMCCs receive a credit equal to 33% of an eligible investment in the QMCC. Each investor in a single QMCC is limited to $250,000 tax credit each fiscal year. A single QMCC may not receive total credits exceeding 15% of the total program appropriation for each fiscal year. QMCCs are limited to participating in the program for two years. The program has a cap each fiscal year and credits are awarded on a first- come, first-served basis.

Enterprise Zone Tax Credit- The Enterprise Zone program provides real property and state income tax credits for businesses located in a Maryland enterprise zone. The real property tax credit is 80% of the incremental increase in property taxes over the first five years, decreasing 10% annually during the next five years. The income tax credit is a $1,000 credit per new employee. For economically disadvantaged employees, the credit increases to $6,000 per new employee over three years. Enhanced credits for both property and income tax credits are available in Enterprise Zone Focus Areas. ABOUT SPERRY VAN NESS HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

About Sperry Van Ness

It’s a different world out there – the commercial real estate landscape has changed; it has perhaps changed forever. We don’t need to tell you times are challenging, your own experience has proven the need for different strategies and direction. You have demanded a different kind of broker – a proactive, collaborative, and proven advisor with deep local knowledge and a broad national footprint. The Sperry Van Ness Company of Affiliates has what you need.

Because It’s Right. Wall Street To Main Street.

Our culture is designed to ensure that our interests are aligned with We believe the Sperry Van Ness company of affiliates simply has the those we serve. Why? Because it’s right. We have a long and very best footprint in the market. We realize that transactions don’t just public history of setting the industry standard in this regard. Every occur in major markets, and as such we have uniquely built our Sperry Van Ness® company affiliate must agree in writing to abide brand around a platform that focuses on your needs. Our affiliates by our Core Covenants – the first of which is this primary covenant: have offices in major markets, as well as second and tertiary market. “I place my client’s interests above my own...” These covenants are Whether you’re seeking acquisition, disposition, advisory, more than mere words, they allow us to breathe and align as one management, or capital markets assistance, we stand ready to organization. They offer you the confidence of knowing our entire serve your needs. Lipsey Co. has ranked the Sperry Van Ness organization of affiliates is always thinking of what is best for you. organization as one of the most recognized commercial real estate It’s a different standard, driven by a different focus and supported brands in the US for a reason – we know how to deliver a certainty by a unique, committed and passionate culture built to challenge of execution for our clients. the status quo. Why? Because It’s Right. Tenacious. Defined. There are many things that go into creating a best-in-class Our message isn’t about us – it’s about you. We understand that commercial real estate company of affiliates or CRE Brand. While your success is our success and we never lose sight of that. We like ours offers proven and emerging technologies, an innovative to think that we have some of the brightest minds in the industry, business model, a strategic footprint and a culture of collaboration an innovative approach, a culture of sharing and collaboration, and and sharing, it is our tenacity that is the defining difference. Our a relentless commitment to service; but we prefer to let our actions affiliates understand our value is in breaking down barriers and and results speak louder than words. accelerating results for our clients. We know that we don’t earn your business by telling you how wonderful we are, but by creating a certainty of execution you can depend upon. We learned long ago Vision. that it doesn’t cost anything to work hard; it just takes a Our vision can be best summarized by our clear recognition that we commitment to a work ethic which is deeply ingrained in the Sperry have only one niche – our client. The bottom line is that we are built Van Ness® culture. It is this tenacious approach to relentlessly earn to serve your needs across asset classes, practice areas, and your business that has built the numerous longterm client geographic boundaries. If you have a need we have both the relationships for our affiliates, and which continues to validate our capability and the competency to insure a successful execution. beliefs and efforts. If you want evidence of our tenacity, look no further than our comprehensive approach to marketing. Every asset marketed within our system, SVN Connect®, receives its own custom Leadership. online presence cross- linked to a variety of other industry portals The Sperry Van Ness Company of Affiliates has an executive team and fully integrate into state-of-the-art social media and search with tremendous integrity, continuity and experience. Along with engine marketing campaigns. We further augment our marketing our industry veterans, we embrace the talents and insights of our efforts with National marketing opportunities, email and telesales next generation of leaders. You asked us to harness the incredible efforts to proprietary investor and broker databases, and options like power that comes from the blending of institutional talent with a our accelerated marketing platform. We simply leave no stone results-driven, entrepreneurial approach to doing the business – unturned. and we listened.

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 20 WHY SPERRY VAN NESS HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

Why Sperry Van Ness

Rand Sperry and Mark Van Ness first met while working on opposing sides of an investment deal in 1977. Mark's client wanted to purchase a property listed by Rand, whose firm did not cooperate with outside brokers.

Imagine if your own broker actually discouraged buyers from bidding on your property! It happens everyday.

Mark represented his client in the transaction, but received only a small referral fee – not a commission from Rand's broker. This common practice of broker exclusion causes properties to sell for less than their actual value, or not sell at all. The proof? Mark sold the same property soon after, demonstrating the value of full broker cooperation – with a 400 percent profit for his client.

Giving up half your income in order to put clients first is something many brokers can't swallow.

-Mark Van Ness

From Solution to Revolution

Sperry Van Ness was created in 1987 with a new philosophy: putting the client's interest first, by aggressively marketing to and cooperating with all brokers. This strategy creates a "bidding war" in the marketplace. In an industry where the status quo is to double end deals, Sperry Van Ness forged a new approach.

Maximum Competition Equals Maximum Value

Our philosophy "Maximum Competition Equals Maximum Value" separates us from all other national companies. We have a written policy of cooperation on every listing. No other brokerage firm does that! Even today, Sperry Van Ness remains the only firm that places the client's interests first, with our policy of marketing to the entire brokerage community

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 21 ADVISOR BIO & CONTACT 1 HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

Advisor Bio & Contact

John McClellan, CCIM Senior Advisor SVN | Miller Commercial Real Estate

John McClellan, CCIM serves as a Senior Advisor for Sperry Van Ness/ Miller Commercial Real Estate specializing in the sale and lease of office, industrial, and retail property on the Eastern shore of Maryland and Delaware. McClellan brings nearly 30 years of commercial real estate experience and has secured well over 1500 transactions, resulting in a career brokerage volume in excess of $400 million.

McClellan has successfully brokered retail, office, and industrial properties for sale and lease. These include a $9.6 million sale of Gateway Crossing, a $2.75 million sale of the Standard Register plant, and $2.2 million industrial lease with Grayling Industries.

Past clients and customers include Pepsi Cola, Field Container, Perdue Farms, UPS, Delmarva Power, Gannett Newspapers, Advance Auto, CVS, 84 Lumber, Chick Fila, The General Services Memberships & Affiliations Administration, and many others.

Lower Shower Advisory Board for M&T Bank He is past President of the Salisbury Area Chamber of Commerce and Salisbury Area Chamber of Commerce presently serves on the advisory board for M&T Bank as well as the Executive Board - Boy Scouts of America (DMV Executive Board of the Delmarva Council of the Boy Scouts of Council) America. Commercial Investment Member (CCIM) Peninsula Commercial Alliance - Past President McClellan is a 1984 graduate of Penn State University with a BS in Phone: 410.543.2440 Accounting. He was co founder and operator or SubRunners (sub Fax: 410.543.1439 delivery) from 1986 - 2003.

Cell: 410.430.9964 He holds the prestigious CCIM designation Email: [email protected]

Address: 206 E. Main Street Salisbury, MD 21801

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 22 ADVISOR BIO & CONTACT 2 HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

Advisor Bio & Contact

Henry Hanna, CCIM, SIOR Council Chair of Industrial Properties SVN | Miller Commercial Real Estate

Henry H. Hanna, III, CCIM, SIOR, serves as the National Council Chair of Industrial Properties and is a Senior Advisor for Sperry Van Ness/ Miller Commercial Real Estate. He specializes in the marketing and sale of industrial and commercial properties. Hanna has successfully represented banks, developers, investors, and commercial and industrial companies as well as local and state governments. He has brokered industrial sales including the Northwood Industrial Park in Salisbury, Maryland; has worked with national and international companies (from Germany, Italy, and Belgium); has listed, marketed, and sold a variety of pharmaceutical, defense, hi-tech, manufacturing, modular home, and boatbuilding companies. He has also actively worked with the State of Maryland, the Department of Business and Economic Development, and MEDCO—the Maryland Economic Development Corporation.

Memberships & Affiliations Hanna holds the prestigious Society of Industrial and Office Realtors designation (SIOR) and the Certified Commercial Investment Member (CCIM) designation. Phone: 410.543.2420

Fax: 410.543.1439 Hanna currently serves as director for WIRA (Wallops Island Regional Alliance) supporting economic development for industries serving Cell: 410.430.2187 NASA, the Aerospace and Unmanned Aerial Vehicles. (UAV). Email: [email protected] He served as past chair for the Salisbury University (SU) Foundation Address: 206 E. Main Street and SU Real Estate Foundation, where he volunteers regularly and Salisbury, MD 21801 provides his expertise and advice on real estate matters.

Notable career highlights for Hanna include representing owners and developers as a broker for national retail companies, including Walgreens, CVS, Rite Aid, Wawa, 7-Eleven, and Sheetz, as well as many banks. Currently he is a mid-Atlantic team leader for SVN Asset Recovery helping local, regional, and national banks and their borrowers to solve real estate issues.

Hanna earned a master’s of business administration from Southern Illinois University, in addition to a Bachelor of Arts in government and foreign affairs from the University of Virginia.

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 23 ADVISOR BIO & CONTACT 3 HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

Advisor Bio & Contact

Chris Peek, CCIM Advisor SVN | Miller Commercial Real Estate

Christian Peek serves as a senior advisor for Sperry Van Ness/Miller Commercial Real Estate specializing in the sale and lease of land and industrial property in the Delmarva Peninsula; the region incorporating the inland and costal regions of Delaware, Maryland and Virginia. With over 24 years in the real estate industry, Peek has secured over 600 transactions resulting in a career brokerage volume in excess of $200 million.

Active in the commercial real estate industry, Peek earned the prestigious Certified Commercial Investment Member designation in 1989 and has written several articles on developing and investing.

Peek earned a Bachelor of Science in Sociology and Mathematics from the University of Maryland College Park. Peek is also a member of the Salisbury Chamber of Commerce, the Salisbury Wicomico Memberships & Affiliations Development Commission and the Salisbury Rotary Club..

MD #4155894

Phone: 410.547.2427

Fax: 410.543.1439

Cell: 410.603.9112

Email: [email protected]

Address: 206 E. Main Street Salisbury, MD 21801

All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 24 DISCLAIMER HIGH QUALITY INDUSTRIAL FLEX SPACE | 147,000 SF | SALISBURY, MD

The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.

Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.

All SVN® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.