Pine Bluff Plaza

OFFERING MEMORANDUM PINE BLUFF PLAZA

5514 S OLIVE STREET | PINE BLUFF, AR 71603 LISTED BY

ANDREW GROSS Senior Associate Direct +1 214 295 4511 BROKER OF RECORD Mobile +1 435 659 1404 Kyle Matthews [email protected] Lic #: PB00084217 (AR) License No. 01987860 (CA) OFFERING MEMORANDUM

PINE BLUFF PLAZA

5514 S OLIVE STREET | PINE BLUFF, AR 71603

4 $3,199,550 8.00% $180.35 OFFERING PRICE CAP RATE PRICE PSF

PROPERTY SUMMARY

5514 S Olive St »» ADDRESS Pine Bluff, AR 35748

»» OCCUPANCY 100%

»» GLA ± 17,740 SF

»» YEAR BUILT 2001

»» IN-PLACE NOI $255,970

5 INVESTMENT HIGHLIGHTS INTRINSIC RETAIL FUNDAMENTALS

This site is situated directly across from Walmart Supercenter and on the major retail corridor with national tenants including AT&T Wireless, McDonald’s, Burger King, Chili’s Bar & Grill, Arby’s, Shell Gas Station and premier hotel brand: Hampton Inn Suites Highly trafficked retail corridor – Walmart Supercenter serves as the location for consumers, resulting in significant traffic from Interstate 530 (nearly 18,000 Vehicles)

MARKET & AREA HIGHLIGHTS Located just 3.7 miles from Southeast Arkansas College – A higher education institution that enrolls 1,600 students Close proximity to Pine Bluff Country Club, Jack Robey Jr. High School, and Jefferson Regional Medical Center Nearly 9,000 employees located within a 3-mile radius of the strip center helps to ensure constant foot traffic

PROPERTY & LEASE HIGHLIGHTS

Four-Tenant strip center with national, corporate guaranteed NNN leases from Verizon Wireless, Hibbett Sports, Rue 21 and PetSense (concept owned and operated by Tractor Supply Company)

Hibbett Sports is performing nearly double their national average in reported sales, indicative of its high-level performance and commitment to the location

Verizon Wireless recently signed a corporate guaranteed lease that reaffirms the tenant’s continued commitment to the center and its high performance Professionally owned and maintained premises – high-end landscaping and general upkeep Pine Bluff Plaza is an unparalleled opportunity for investors to purchase a multi-tenant asset with minimal landlord responsibility, providing NNN leases with each tenant

6 SECTION II PROPERTY OVERVIEW

7 PHYSICAL DESCRIPTION PARCEL MAP

PROPERTY NAME NET RENTABLE AREA Pine Bluff Plaza ± 17,740 SF

ADDRESS LAND AREA 5514 S Olive St ±1.95 Acres LOCATION YEAR BUILT Pine Bluff, AR 71603 2001

PARCEL OCCUPANCY 19-01-11-0-000-018.002 100%

PROPERTY TYPE AVERAGE TERM REMAINING ±7.00 Years Retail

TOTAL TENANTS 5

8 SURROUNDING AREA MAP

S OLIVE STREET+ 19,000 VPD

SUBJECT PROPERTY

9 SITE PLAN

TENANT ROSTER TENANT SQUARE FEET

Pet Sense 5,200

D C B A Rue 21 4,500

Hibbet Sports 5,000

Verizon Wireless 3,040

Total 17,740

10 TENANT ROSTER

SECTION III FINANCIAL OVERVIEW

11 RENT ROLL CONTRACT SQUARE RENT PSF UNIT TENANT LEASE START LEASE END % OF GLA RENTAL RATE FEET YEAR MONTH $ PSF/YR. $ PSF/MO.

001 Pet Sense 10/13/11 10/31/21 5,200 29.3% $78,000 $6,500 $15.00 $1.25

002 Rue 21 1/31/17 1/31/21 4,500 25.4% $60,750 $5,063 $13.50 $1.13

003 Hibbett Sports 10/3/11 10/31/21 5,000 28.2% $62,500 $5,208 $12.50 $1.04

004 Verizon Wireless 9/14/11 7/21/22 3,040 17.1% $54,720 $4,560 $18.00 $1.50

Occupied Totals - In Place 17,740 100.0% $255,970 $21,331 $14.43 $1.20 Totals 17,740 100.0% $255,970 $21,331 $14.43 $1.20

12 SECTION III TENANT OVERVIEW

13 Petsense is a small-box, pet specialty retailer focused on meeting the needs of Rue21 is an American specialty retailer of young men and women’s casual pet owners, primarily in small and mid-size communities. We specialize in apparel and accessories headquartered in the Pittsburgh suburb of Warrendale, providing a large assortment of pet food, supplies and services, such as grooming Pennsylvania. Its clothes are designed to appeal to people who desire, wish, or and training. We are proud to carry brands such as Stella & Chewy, Diamond, feel to be 21, especially adults and 11-17 year-olds. New owners include hedge Hill’s Science Diet, Victor, Zignature, KONG, as well as our exclusive brand pet funds BlueMountain Capital Management, Southpaw Asset Management and food, True Source. Petsense also offers a variety of services such as grooming Pentwater Capital Management. rue21 offers its own brands, such as rue21 etc.!, and dog training at our locations across the country. Grooming services range CARBON elements, true by rue21, ruebeauty, ruebleu SWIM, rueDecor, in from basic bathing or nail trimming to full-service and specialty groom services. addition to other brands in its stores to create merchandise excitement and differentiation in its stores.

Verizon is one of the largest communication technology companies in the world. The Company, through its subsidiaries, provides communications, information Hibbett Sports, Inc. is a publicly traded holding company for Hibbett Sporting and entertainment products and services to consumers, businesses and Goods, a full line sporting goods retailer headquartered in Birmingham, Alabama. governmental agencies. Its segments include Wireless and Wireline. The Wireless Hibbett Sports, Inc. operates sporting goods stores in small to mid-sized segment offers communications products and services, including wireless voice markets, in the Southeast, Southwest and lower Midwest regions of the United and data services and equipment sales, to consumer, business and government States. States with the most stores are Georgia, Texas, and Alabama. Its stores customers across the United States. The Wireline segment offers voice, data offer a range of athletic equipment, footwear and apparel. and video communications products and services, such as broadband video and data, corporate networking solutions, data center and cloud services, security and managed network services, and local and long distance voice services.

14 SECTION IV AREA OVERVIEW

15 PINE BLUFF, AR Pine Bluff is the tenth-largest city in the state of Arkansas and the county seat of Jefferson County. The city is situated in the Southeast section of the Arkansas Delta and straddles the Arkansas Timberlands region to its west. The city is situated in the Southeast section of the Arkansas Delta and straddles the Arkansas Timberlands region to its west. Agriculture is a mainstay in Pine Bluff. Jefferson County is located in the heart of a rich agricultural area in the Arkansas River Basin. The leading products include cotton, soybeans, cattle, rice, poultry, timber and catfish. Major area employers include Jefferson Regional Medical Center, Simmons First National Corp., Tyson Foods, Evergreen Packaging, the Pine Bluff Arsenal and the Union Pacific Railroad. The Pine Bluff Convention Center is one of the state’s largest meeting facilities. The Arts and Science Center features theatrical performances and workshops for children and DEMOGRAPHICS adults. Recreational opportunities in Pine Bluff range from water sports and some of the best 3 - MILE 5 - MILE 7 - MILE bass fishing in the state on the Arkansas River. POPULATION 2010 Census 3,294 10,740 33,762 2019 Estimate 2,916 9,603 29,462 2024 Projection 2,786 9,205 28,104

HOUSEHOLDS 2010 Census 1,376 4,338 12,941 2019 Estimate 1,263 3,994 11,449 2024 Projection 1,222 3,867 10,978

INCOME Average HH Income $73,510 $72,584 $60,066

16 CONFIDENTIALITY AGREEMENT & DISCLAIMER This Offering Memorandum contains select information pertaining to the business and affairs ofPine Bluff Plaza located at 5514 S Olive Street, Pine Bluff, AR 71603 (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1 . The Offering Memorandum and its contents are confidential; 2. You will hold it and treat it in the strictest of confidence; and 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

17 OFFERING MEMORANDUM PINE BLUFF PLAZA

5514 S OLIVE STREET | PINE BLUFF, AR 71603

LISTED BY

ANDREW GROSS Senior Associate Direct +1 214 295 4511 BROKER OF RECORD Mobile +1 435 659 1404 Kyle Matthews [email protected] Lic #: PB00084217 (AR) License No. 01987860 (CA)