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8727 Northwest Drive Southaven, Mississippi CONFIDENTIAL OFFERING MEMORANDUM Table of Contents

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8727 Northwest Drive Southaven, Mississippi CONFIDENTIAL OFFERING MEMORANDUM Table of Contents 8727 Northwest Drive Southaven, Mississippi CONFIDENTIAL OFFERING MEMORANDUM Table of Contents Executive Summary Investment Highlights Tenant Overviews Property Description Location Overview Lease Abstracts Executive Summary Cushman & Wakefield / Commercial Advisors (“C&W”) has been exclusively retained by MJL Properties LLC to solicit proposals for the sale of its two tenant triple net leased Ofce Property (the “Property”) located at 8727 Northwest Drive in the Memphis suburb of Southaven, Mississippi. The property is a single story garden style medical ofce building comprising approximately 8,798 square feet. Both tenants, Schryver Medical LLC and American Testing LLC, focus on medical testing through a variety of processes and laboratory diagnostics, with each company enjoying quick access to both the Memphis MSA and additionally the Memphis International Airport for overnight delivery capability. This ofering provides an opportunity to acquire property subject to triple net leases with Schryver Medical LLC, a wholly owned subsidiary of Trident USA Health Services Company, and American Testing Lab LLC. The Property efciently utilizes the 0.71 acre tract of land with direct frontage onto Northwest Drive, one of the busiest secondary roads in Southaven due to direct access to Southaven City Hall and the main public library of Southaven. This investment ofers appreciable cash flow from a leading national medical company, plus ofers the potential for increased real estate value as leases mature. OFFERING AT A GLANCE OFFERING PRICE $961,050 PRICE PER SQUARE FOOT $109.24 CAP RATE 8.0% PROPERTY ADDRESS: 8727 Northwest Drive | Southaven, MS TOTAL SQUARE FEET: 8,798 TOTAL ACREAGE: 0.71 LEASE STRUCTURE: NNN NET OPERATING INCOME: $76,890 / year 8727 Northwest Drive | Southaven, MS Investment Highlights Quick Facts Tenancy: The Property is currently % leased per previous building ! 1 in 7 MSA residents work in the biosciences in a metro area 100 of more than 1.35 million people measurements. The Crump Firm, a Memphis based quality architectural firm, ! Memphis is home to four (4) Fortune 500 companies – FedEx, recently measured the entire building per BOMA standards and has CADD AutoZone, International Paper and ServiceMaster generated square footages for the future. ! Memphis is located in the heart of the mid-south U.S. and is closer by truck to more major metro areas than any other city in the country and is the largest air cargo airport in North Both medical-focused tenants at the Property enjoy close proximity to major America medical companies and practices. ! About 7,000 Mid-South students graduate each year with a degree or certificate in biosciences or engineering ! More than 70,000 Memphians are employed in the city’s Location: The Memphis metro area is a national and global leader in the broad-based collection of bioscience industries with medical industry as the home to St. Jude Children’s Research Hospital which companies such as Medtronic and Smith & Nephew is pioneering research into the cures of catastrophic childhood diseases. ! Memphis is among the top 10 most afordable cities in which to operate a biomedical business, according to The Boyd Memphis is also the #2 location in the nation for the medical device industry Company, a major business consulting firm and is a leader in the latest advances in the medical industry. ! Shelby County is the 2nd-largest county in the U.S. for orthopedic device manufacturing Market: The Property is located in the high-end Memphis suburb of Southaven, MS and is in very close proximity to Baptist DeSoto Hospital. Lease Economics: The NNN lease structures provide prospective landlords with stable cash flows for years to come, as the two tenants are responsible for real estate taxes, insurance, and the common area expense reimbursements. The primary tenant, Schryver, has two 2 year renewal options. 8727 Northwest Drive Southaven, MS Tenant Overview Tenant Overviews Schryver Medical LLC Schryver Medical LLC, a Trident USA Health Services Company, is a leading diagnostic services company that specializes in serving the post-acute care market. Each month, Schryver Medical LLC deploys experienced medical professionals and leading edge technology to provide phlebotomy, laboratory, and imaging services to tens of thousands of patients nationwide. To protect its customers and patients, Schryver Medical LLC services are reinforced by a system of compliance and continuous quality improvement. American Testing LLC American Testing LLC is a third party administrator for national and local companies. Consisting of multiple labs both onsite and remote, American Testing LLC provides a variety of services consisting of, but not limited to: blood testing, drug testing, shots (B12, influenza, hepatitis, and others), breath alcohol testing, hair testing, and physicals. They provide reports and specimen results for national as well as local clients. Property Description Site Plan N Property Details: 8727 Northwest Drive SOUTHAVEN, MS 38671 8,798 SQUARE FEET PER CADD 0.71 ACRES Single Story ONE STORY 1986 YEAR BUILT 2015 Utilities, HVAC, & Fire Protection Construction Details Exterior Details Interior Details YEAR RENOVATED ! Construction Type: Wood frame ! Utilities: All Available ! Site Improvements: ! Ceiling: Acoustical Tile 150’ feet on Northwest Drive with brick & wood siding ! Heating & Cooling: Package FRONTAGE ! Roofing: Gabled roof w/ asphalt ! Asphalt Parking Lot ! Walls: Painted Drywall Units shingle Fire Protection: Monitored ! Two curb cuts ! Lighting: Fluorescent C-3 (General Commercial) ! ! Foundation: Concrete Slab Alarm with Smoke Detection ZONING ! Lighting ! Flooring: Vinyl Tile, Carpet, Wood Laminate ! Landscaping Building Floor Plan Building Floor Plan HOSPITAL LOCATIONS MAP LEGEND 1 Saint Jude Children’s Research Hospital 2 Le Bonheur Children’s Medical Center 3 Regional Medical Center at Memphis 4 University of Tennessee Medical Center 5 Memphis Veterans Afairs Medical Center 6 Methodist University Hospital 7 Methodist South Hospital 8 Baptist Memorial Hospital - DeSoto 9 Delta Medical Center 10 Saint Francis Hospital Memphis 11 Baptist Memorial Hospital - Memphis 12 Baptist Memorial Hospital for Women 13 Methodist North Hospital 14 Saint Francis Hospital Bartlett 15 Methodist Le Bonheur Germantown Hospital 16 Baptist Memorial Hospital - Collierville 17 Methodist Olive Branch Hospital SUBJECT PROPERTY 8727 Northwest Dr Location Overview Memphis Overview MSA Population (2016) 1,340,336 Memphis Population (2016) 657,167 Memphis Employment (2016) 638,000 Memphis Unemployment (2016) 5.3% U.S. Unemployment (2016) 4.8% Key Growth Industries Logistics, Healthcare, Biomedical Source: 2015 U.S. Census Bureau American Community Survey 5-Year Estimates Great things about Memphis: • Top 3rd millennial destination city (realtor.com) • 10th best place to start a business (CNN) • Among best cities to find a job (Indeed) • A top travel destination (Money Magazine) • No.1 food city in America (Food Network) • A leading city in creating technology jobs (Forbes) • AutoZone Park rated 2nd best minor league ball park (Baseball America) • Peabody Hotel named best historic hotel in U.S. (Historic Hotels of America) • Graceland named world’s best musical attraction (USA Today) • Most afordable city in America (Money Crashers) • Cost of living 14% lower than the national average (CBS News) Memphis, TN Location Overview Crosstown Concourse: A $200 million America’s Distribution Center redevelopment project sitting between mid- town and I-40 and totaling 1.1 million square Memphis has earned its reputation as “America’s Distribution Center.” feet. This project will create 800 new jobs With its natural geographic advantage, its deep pool of skilled and generate more than $37 million in new logistics workers, and its intermodal edge, our core competency in wages annually upon completion in late 2017. Memphis is distribution and logistics. Home of the world headquarters and hub of shipping powerhouse FedEx, over 400 ServiceMaster: Moved its corporate HQ to trucking companies and major operations of UPS and USPS, Memphis Memphis from Illinois in 2008, adding 150 is uniquely positioned to provide the most cost efective distribution corporate positions to their existing 2,315 and logistics services in the country. employees in Memphis. In 2016, ServiceMaster announced plans to consolidate Did you know: operations in downtown Memphis’ Peabody • Access to the world through the FedEx Express world SuperHUB. Place which will be renovated prior to their • Memphis' workforce has a higher percentage of logistics workers relocation in early 2018. than any other metropolitan area in the country • Five class-one railroads ofer service in Memphis. St. Jude Expansion: A $9 billion project expected to double the hospital’s economic impact in the community. The combined economic impact of ALSAC and St. Jude is over 2.5 billion dollars per year. At the end of the expansion, that dollar amount will be between 3.5 billion and 4 billion dollars per year and promises to create 1,800 new jobs. Major Economic Growth Advanced healthcare and educational facilities also drive the local economy. Both are anchored by the massive 14,000-acre downtown Memphis Medical Center district. More than 40,000 are employed in this district and 10,000 students attend universities in the area. Rapid advancements in biomedical research have positioned the medical center for growth. Expansions to its existing facilities are generating additional demand for
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