SOUTHWEST INTERCHANGE OF 84TH STREET & INTERSTATE 894/41 GREENFIELD (SUBURBAN ), WI INVESTMENT HIGHLIGHTS SUBJECT OFFERING

id-America Real Estate Corporation, in cooperation with Mid-America MReal Estate – , LLC has been retained on behalf of the owner to sell the 100% fee simple interest in the mid-box retail portion of 84 South, a brand-new development serving Milwaukee’s southwest suburbs around Greenfield, Wisconsin.

Location: Southwest Interchange of 84th Street & Interstate 894/41 Greenfield, Wisconsin

Total GLA: 194,900 SF

Mid-Box West Mid-Box East Tenants: Five Below, Fresh Thyme Tenants: Kohl’s (Prototype) and Total Farmer’s Market, Kirkland’s, Oshkosh Wine Bigosh/Carter’s, Ross Dress for Less, Marshalls, and Ulta Square Feet: 80,000 SF Square Feet: 114,900 SF

Shadow Anchor: Steinhafels (58,000 SF), Advocate Aurora Healthcare (150,000 SF), Forte at 84 South (268 residential units)

Year Built: 2017 – 2018

Structure: Ownership’s preference is to sell Mid-Box East and Mid- Box West together. However, ownership will entertain offers for the assets on an individual basis. KEY FEATURES

LONG-TERM NATIONAL TENANCY – 84 South is 97% leased to an array of national retail category leaders including Kohl’s, Fresh Thyme Farmer’s Market, Ross Dress for Less, Marshalls, Ulta, and Total Wine. The subject offering provides an extremely stable cash flow with aweighted average lease term remaining of 12.7 years.

IRREPLACEABLE LOCATION – The property is situated adjacent to Interstate 894 (134,000 VPD) along Layton Avenue (32,400 VPD) at a partial interchange with 84th Street (30,300 VPD) and just west of a full interchange with Forest Home Avenue (18,200 VPD), providing outstanding access to both a local and regional customer base.

NEW CONSTRUCTION – Mid-Box East and West are the retail component of a ground-up new construction mixed-use development. The recent development has created an aesthetically appealing center which should limit any short-term capital expenditures.

MIXED-USE CUSTOMER DRAW – The shopping center is shadow-anchored by Steinhafels, the fastest growing furniture and mattress retailer in Wisconsin. The mixed-use development also features a 150,000-square-foot Advocate Aurora health center and Forté, a 268-unit apartment complex, which further enhance foot-traffic at the shopping center. Advocate Aurora health center is a health and ambulatory surgery center, which includes a children’s pediatric center, orthopedics, a multi-disciplinary specialty clinic, sports health, and an outpatient imaging center, amongst other services.

SOLID MIDDLE INCOME DEMOGRAPHIC PROFILE – The surrounding area boasts a dense and established customer profile with over 102,900 residents located within a three-mile radius of the property enjoying average household incomes of $71,500. Within five miles population increases to 274,600.

DOMINANT RETAIL MARKET – The subject offering is situated within the Southridge Mall trade area, a dominant regional corridor that serves Milwaukee’s southwest suburbs. The market features over 2.1 million square feet of retail including the largest mall in Wisconsin, Simon’s 1.2 million-square-foot Southridge Mall, which generates shop sales of over $450 per square foot. Major retailers in the trade area include TJ Maxx, Macy’s, Pick ‘n Save, Barnes & Noble, PetSmart, JCPenney, Walmart, Bed Bath & Beyond, Petco, and Jo Ann.

DEMOGRAPHIC PROFILE WITHIN 5-MILE RADIUS:

POPULATION AVERAGE HH INCOME HOUSING UNITS MEDIAN HOME VALUE DAYTIME POPULATION MEDIAN AGE 270,457 $73,673 114,649 $188,678 243,357 41.0 LEASING PLAN 134,000 VPD

30,000 SF Aailale or Deelopment (NAP) 58,000 SF A4 A6 B1 B2 B3 B4 B5 B6 B7 B8

150,000 SF (NAP)

Summer 2020 Delivery Forte 268 Residential 085 Acres Units Aailale or (30,300 PD) 84th Street Deelopment

Laton Ae (32,400 PD)

Mid-Box East Mid-Box West Tenant Name Unit Square Feet Tenant Name Unit Square Feet Fresh Thyme Farmer's Market B1 28,750 Kohl's A4 55,000 Ross Dress For Less B2 25,000 Total Wine A6 25,000 Marshalls B3 21,000 Mid-Box West Total 80,000 Ulta B4 9,997 Kirkland's B5 8,053 OshKosh Bigosh/Carter's B6 6,900 Vacant B7 6,700 Five Below B8 8,500 Mid-Box East Total 114,900 Germantown Mequon LOCATION & MARKET ¦¨§41 ST181 • 84 South is located in Greenfield, Milwaukee County, Wisconsin, approximately Menomonee Falls eight miles southwest of downtown Milwaukee. Greenfield is home to approximately 37,000 residents.

• The Milwaukee MSA boasts a healthy unemployment rate of 2.7% compared Glendale to 3.9% for the United States overall (seasonally adjusted as of December Whitefish Bay 2018). Milwaukee’s economy is well diversified between numerous sectors ¦¨§41 including trade, transportation, and utilities; manufacturing; educational and Shorewood health services; and professional and business services. The MSA is also ST190 home to the international headquarters of eight Fortune 500 companies: Fiserv, Harley-Davidson, Kohl’s, Manpower, Northwestern Mutual, Oshkosh, ¦¨§43 Wauwatosa Rockwell Automation, and WEC Energy. Brookfield

• 84 South benefits from its proximate location adjacent to I-894, offering ¤£18 excellent visibility and convenient access. I-894, which runs concurrently ¦¨§94 ¦¨§94 West Allis with Interstates 43 and 41 in Greenfield, serves as a bypass of downtown Milwaukee, connecting with west of downtown and the south of downtown. The shopping center also fronts Layton Avenue (32,400 VPD), a major east-west corridor that runs just west of Greenfield to Lake Michigan at its eastern terminus. New Berlin ST38 ¨§894 Greenfield ¦ Cudahy Greendale DEMOGRAPHICS ¦¨§43 Distance from Subject: 1 mile 3 miles 5 miles 2018 Population 9,975 100,132 270,457 Franklin 2018 Households 4,950 44,725 114,649 Oak Creek 2018 Median Home Value $206,878 $191,289 $188,678 2018 Daytime Population 11,147 87,916 243,357 2018 Average Household Income $74,695 $74,216 $73,673 36 ST ST241 2018 Median Household Income $52,346 $56,763 $56,383 ST36 2018 Per Capita Income $34,925 $33,067 $31,292 ¦¨§41 2018 Median Age 48.6 43.8 41.0 PROPERTY DESCRIPTION

• 84 South is a brand-new construction development and consists of 194,900 square feet. In addition, the shopping center features a separately-owned Steinhafels (58,000 square feet), Advocate Aurora health center (150,000 square feet), and Forte at 84 South residential component (268 units).

• The subject offering is accessible by one signalized intersection along Layton Avenue, two curbs cuts along Layton Avenue, one curb cut along 84th Street, and one along 92nd street. The shopping center shares access with Steinhafels and numerous outlot buildings fronting Layton Avenue including Outback Steakhouse and two multi-tenant outlots. TENANCY

• 84 South is 97% leased to a truly unrivaled anchor lineup that consists of some of the strongest retailers in the country, including Kohl’s, Fresh Thyme Farmer’s Market, Ross Dress for Less, Marshalls, Ulta, and Total Wine. The combined financial strength of the anchor tenants in-place at 84 South offers the rare opportunity to purchase a center where a diverse and largely credit-anchor lineup is responsible for 85% of the in-place gross income with a weighted average lease term remaining of 12.7 years.

• The subject offering is shadow anchored by Steinhafels, a family-owned company established in 1934 that currently operates 18 locations throughout the state. 84 South also features two multi-tenant and two single-tenant outlot buildings fronting Layton Avenue that are not included in the subject offering.

• The following table demonstrates the financial health and credit quality of the income stream at 84 South.

Retailer Stock Symbol Store Count S&P Credit Rating Revenue (TTM 2019) % In-Place Gross Income Kohl's KSS 1,155 BBB- $19.5 billion 15.6% Ross Dress for Less ROST 1,483 A3 $14.9 billion 13.2% TJX Companies (Marshalls) TJX 4,070 A+ $38.8 billion 10.9% Ulta ULTA 1,124 N/A $6.5 billion 7.7% Five Below FIVE 700 N/A $1.5 billion 5.6% Kirkland's KIRK 380 N/A $656 million 5.1% Carter's (OshKosh Bigosh/Carter's) CRI 1,050 BB+ $3.5 billion 4.8%

FINANCIAL The property is being offered “free and clear” of any existing debt.

Total In-Place Net Operating Income: $2,463,800 Mid-Box East Net Operating Income: $1,578,815 Mid-Box West Net Operating Income: $884,985 The Wrigley Building Rick Drogosz 600 N Plankinton Ave, Suite 301 Dan Rosenfeld 410 North Michigan Avenue, Suite 1100 Principal Milwaukee, WI 53203 (Licensed WI Broker) , Illinois 60611 Direct: 630.954.7339 Direct: 248.855.6800 Direct: 414.390.1402 630.954.7300 [email protected] [email protected]

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.