ABSOLUTE NNN SINGLE TENANT INVESTMENT Investment Grade Credit Tenant - Zero LL Responsibilities 2326 Webb Avenue | , CA | 93240

COLLIERS INTERNATIONAL | 3 PARK PLAZA, SUITE 1200 | IRVINE, CA 92614 | SNYDER/CARLTON TEAM PROPERTY OVERVIEW We are pleased to offer to qualified investors an opportunity to purchase a brand new Pricing Summary construction, single tenant absolute NNN investment fully leased to Dollar General on a brand List Price $2,262,600 new 15 year corporate guaranteed lease. Located on a large 1.43 acre lot with a brand new NOI $135,756 15 year term and 3 - 5 year options available; this lease provides investors ideal passive long CAP Rate 6.00% term stable cash flow. This is an excellent opportunity to acquire an investment grade credit Operating Expenses NNN tenant, with zero landlord responsibilities located in Lake Isabella, CA; next to the highly visited Taxes, Insurance, CAM Lake Isabella and .

Dollar General | Lake Isabella, CA | P. 2 INVESTMENT HIGHLIGHTS

• Investment Grade Credit Tenant - Pride of Ownership LEASE ABSTRACT • Dollar General Corp. (NYSE: DG) - Rated “BBB” by S&P - Investment Grade • Brand New Construction - New 15 Year Corporate Guaranteed Lease Tenant Trade Name Dollar General • Absolute NNN Lease Structure - Zero LL Responsibilities • Passive Long Term Stable Cash Flow - Ideal 1031 Exchange Asset Lease Start February 17, 2018 • 10% Rental Increases Each Option - 3-5 Year Option Periods

Lease Expiration February 28, 2033 • Located next to the Kern River in Lake Isabella, CA • Highly Visited Area for Outdoor Activities Lease Term 15 Years • Dollar General Operated 14,534 Stores in 44 states as of February 2, 2018 • Net Income of Approximately $1.25 Billion - Over $11.6 Billion in Total Assets Term Remaining On Lease 15 Years

Base Rent $135,756

Rental Adjustments None

3 - 5 Year Options 10% Increase Each Option Options 3/1/2033: $149,328 3/1/2038: $164,268 3/1/2043: $180,684

Lease Type Absolute NNN Lease

Roof & Structure Tenant Responsible

Jiffy Lube - Clarksville, TN | P. 3 Dollar General | Lake Isabella, CA | P. 3 AERIAL OVERVIEW Parcel Details Parcel 263-060-09-00 ISABELLA LAKE Building Area 9,026 SF

ERSKINE CREEK RD. Parcel Area 1.43 Acres

Huge Tourism to Lake Isabella Fishing & KERN VALLEY HIGH SCHOOL Kern River Valley Rafting WOODROW MIDDLE SCHOOL WOODROW ELEMENTARY SCHOOL

WEBB AVE.

ISABELLA HOT SPRINGS

LAKE ISABELLA BLVD.

N 178

Dollar General | Lake Isabella, CA | P. 4 SITE PLAN

N BLVD. ISABELLA LAKE

WEBB AVE. FULOP ST.FULOP

Dollar General | Lake Isabella, CA | P. 5 TENANT OVERVIEW

Dollar General Corporation (NYSE: DG), is a discount retailer in the United States. The Company offers a selection of merchandise, including consumables, seasonal, • $23.5 billion in sales in fiscal 2017 home products and apparel. Its merchandise includes national brands from • 14,534 retail locations as of February 2, 2018 manufacturers, as well as private brand selections with prices at discounts to national • 7,300 square-foot stores brands. It offers its merchandise at everyday low prices through its convenient small- • 10,000 - 12,000 total stock keeping units box locations. Dollar General operated 14,534 stores in 44 states as of February 2, (SKUs) per store from America’s most-trusted 2018. In addition to high quality private brands, Dollar General sells products from America’s most-trusted brands such as Procter & Gamble, Kimberly-Clark, Unilever, manufacturers Kellogg’s, General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola. • 15 distribution centers Dollar General at www.dollargeneral.com. • 130,000+ employees • Ranked #128 on the Fortune 500 list as of 2017

Dollar General | Lake Isabella, CA | P. 6 Lake Isabella LAKE ISABELLA POPULAR VACATION SPOT YEAR ROUND The Isabella reservoir offers fishing, boating, water sports, camping, and picnicking. Close proximity to Los Angeles and Bakersfield makes this lake a popular yearround vacation spot for southern Californians. The lake is one of the state’s most popular windsurfing areas; reliable afternoon winds, from 35-50 miles an hour, create ideal conditions for intermediate to advanced windsurfers.

BAKERSFIELD | Bakersfield is a city in Kern County, California. It covers about 142 square miles near the southern end of the San Joaquin Valley and the Central Valley region. Bakersfield’s population is approximately 365,000, making it the ninth-most populous city in California and the 52nd-most populous city in the nation. The Bakersfield–Delano Metropolitan Statistical Area, which includes all of Kern County, had a 2010 census population of 839,631, making it the 62nd largest metropolitan area in the United States.

Dollar General | Lake Isabella, CA | P. 7 DEMOGRAPHICS

Population 3-Mile 5-Mile 10-Mile Households 3-Mile 5-Mile 10-Mile

Estimated Population (2017) 4,572 6,064 10,214 Estimated Households (2017) 2,102 2,766 4,755

Projected Population (2022) 4,574 6,089 10,215 Projected Households (2022) 2,106 2,780 4,755

Income 3-Mile 5-Mile 10-Mile Business Facts 3-Mile 5-Mile 10-Mile $$ Avg. Household Income (2017) $36,504 $46,264 $46,815 Total # of Businesses (2017) 213 355 486 Median Household Income (2017) $22,521 $24,269 $27,183 Total # of Employees (2017) 1,333 2,267 2,962

Dollar General | Lake Isabella, CA | P. 8 This Offering Memorandum contains select information pertaining to Owner and Colliers International expressly reserve the right, at their the business and affairs of Dollar General - Lake Isabella, CA. It has sole discretion, to reject any and all expressions of interest or offers been prepared by Colliers International. This Offering Memorandum to purchase the Property and to terminate discussions with any may not be all-inclusive or contain all of the information a prospective person or entity reviewing this Offering Memorandum or making an purchaser may desire. The information contained in this Offering offer to purchase the Property unless and until a written agreement Memorandum is confidential and furnished solely for the purpose of for the purchase and sale of the Property has been fully executed a review by a prospective purchaser of the Property. It is not to be and delivered. used for any other purpose or made available to any other person without the written consent of Seller or Colliers International. The If you wish not to pursue negotiations leading to the acquisition of material is based in part upon information supplied by the Seller and Dollar General - Lake Isabella, CA or in the future you discontinue in part upon financial information obtained from sources it deems such negotiations, then you agree to purge all materials relating to reliable. Owner, nor their officers, employees, or agents makes any this Property including this Offering Memorandum. representation or warranty, express or implied, as to the accuracy A prospective purchaser’s sole and exclusive rights with respect to or completeness or this Offering Memorandum or any of its contents this prospective transaction, the Property, or information provided and no legal liability is assumed or shall be implied with respect herein or in connection with the sale of the Property shall be limited thereto. Prospective purchasers should make their own projections to those expressly provided in an executed Purchase Agreement and and form their own conclusions without reliance upon the material shall be subject to the terms thereof. In no event shall a prospective contained herein and conduct their own due diligence. purchaser have any other claims against Seller or Colliers International By acknowledging your receipt of this Offering Memorandum from or any of their affiliates or any of their respective officers, Directors, Colliers, you agree: shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the 1. The Offering Memorandum and its contents are confidential; marketing or sale of the Property. 2. You will hold it and treat it in the strictest of confidence; and This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there 3. You will not, directly or indirectly, disclose or permit anyone has been no change in the state of affairs of the Property since the else to disclose this Offering Memorandum or its contents in date this Offering Memorandum. any fashion or manner detrimental to the interest of the Seller.

Colliers International | 3 Park Plaza, Suite 1200 | Irvine, CA 92614 | Snyder/Carlton Team

Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and /or its licensor(s) 2015. All rights reserved

Dollar General | Lake Isabella, CA | P. 9 Investment Contacts:

Spencer O’Donnell Eric Carlton Jereme Snyder Broker of Record Associate Vice President Executive Vice President Executive Vice President JJ Woods, CLS License No. 01954051 License No. 01809955 License No. 01360233 Senior Vice President 949.724.5536 949.724.5561 949.724.5552 License No. 01420570 [email protected] [email protected] [email protected] [email protected]