TERRACE LOFTS 1300 Convention Plaza, Saint Louis, MO Table of Contents Terrace Lofts

TERRACE Financial Overview Financial Overview………………..……...4 Multi-Family Rent Roll…..………………5-6 LOFTS Multi-Family Unit Mix Breakdown………7 Property Overview Investment Overview……..………………9 Property Photos…………………………..10-14 Aerial Photos………….………………….15-17 St. Louis Loft District…………………….18-20 Investments in the Central Corridor.……..21-22 St. Louis New Developments…………….23-25 Local & Regional Maps..…...…………….26-27 Market Overview St. Louis Overview….……………………29-32 Demographics………..…….…………….33-34

FINANCIAL OVERVIEW

Residential: Current Price $5,150,000 Gross Potential Rent: $500,160 Gross Leaseable Area (GLA) 54,999 SF Vacancy Allowance: ($9,000) 1.80% Price/ SF $93.64 Effective Gross Income: $491,160 Cap Rate 6.03% Expenses: ($180,866) Net Operating Income $310,294 Net Operating Income: $310,294 6.03% Debt Coverage Ratio 1.36 Loan Payments: ($228,014) Parking Spaces 37 Pre Tax Cash Flow: $82,280 6.39% Plus Principal Reduction: $65,117

Real Estate Taxes (TTM) $38,903 Total Return Before Taxes: $147,397 11.45% Insurance (TTM) $21,943 Advertising (TTM) $1,500 Inspections (TTM) $622 Janitorial (3 Year Average) $7,800 Proposed Loan Terms Contract Services (TTM) $13,605 First Loan Amount: $3,862,500 Repairs & Maintenance (TTM) $23,792

Supplies (3 Year Average) $9,797 Interest Rate: 4.25% Utilities (TTM) $32,257 Amortization Schedule: 30 Years Management (4.00%) $19,646 Term: 5 Years Reserves ($.20/sf) $11,000 Monthly Payment: $19,011.18 Total Expenses ($3.29/sf) $180,866 Annual Payment: $228,014.14

Square Annual Suite Tenant Footage % of Total Monthly Rent Annual Rent PSF 101 Vacant 683 1.96% $750.00 $9,000 $13.18 102 1 Bed, 1 Bath 703 2.02% $800.00 $9,600 $13.66 103 2 Bed, 1 Bath 920 2.64% $850.00 $10,200 $11.09 104 1 Bed, 1 Bath 670 1.92% $750.00 $9,000 $13.43 105 Studio/1 691 1.98% $750.00 $9,000 $13.02 106 1 Bed, 1 Bath 598 1.72% $650.00 $7,800 $13.04 107 1 Bed, 1 Bath 598 1.72% $1,200.00 $14,400 $24.08 108 2 Bed, 1 Bath 1,157 3.32% $1,105.00 $13,260 $11.46 109 1 Bed, 1 Bath 819 2.35% $950.00 $11,400 $13.92 110 2 Bed, 1 Bath 992 2.75% $1,100.00 $13,200 $13.31 111 1 Bed, 1 Bath 708 2.03% $690.00 $8,280 $11.69 112 1 Bed, 1 Bath 675 1.94% $650.00 $7,800 $11.56 113 Studio/1 828 2.38% $850.00 $10,200 $12.32 114 Studio/1 699 2.01% $725.00 $8,700 $12.45 115 Studio/1 636 1.83% $750.00 $9,000 $14.15 116 Studio/1 479 1.38% $640.00 $7,680 $16.03 201 1 Bed, 1 Bath 845 2.43% $850.00 $10,200 $12.07 202 1 Bed, 1 Bath 703 2.02% $800.00 $9,600 $13.66 203 2 Bed, 1 Bath 920 2.64% $1,000.00 $12,000 $13.04 204 1 Bed, 1 Bath 670 1.92% $800.00 $9,600 $14.33 205 Studio/1 691 1.98% $750.00 $9,000 $13.02 206 1 Bed, 1 Bath 598 1.72% $750.00 $9,000 $15.05 207 1 Bed, 1 Bath 598 1.72% $720.00 $8,640 $14.45 208 2 Bed, 1 Bath 1,157 3.32% $1,225.00 $14,700 $12.71 209 1 Bed, 1 Bath 819 2.35% $950.00 $11,400 $13.92 210 2 Bed, 1 Bath 992 2.85% $1,060.00 $12,720 $12.82 211 1 Bed, 1 Bath 708 2.03% $900.00 $10,800 $15.25 212 1 Bed, 1 Bath 675 1.94% $850.00 $10,200 $15.11

Square Annual Suite Tenant Footage % of Total Monthly Rent Annual Rent PSF 213 Studio/1 828 2.38% $850.00 $10,200 $12.32 214 Studio/1 699 2.01% $1,150.00 $13,800 $19.74 215 Studio/1 636 1.83% $750.00 $9,000 $14.15 216 Studio/1 555 1.59% $845.00 $10,140 $18.27 301 1 Bed, 1 Bath 845 2.43% $850.00 $10,200 $12.07 302 1 Bed, 1 Bath 703 2.02% $850.00 $10,200 $14.51 303 2 Bed, 1 Bath 920 2.64% $1,000.00 $12,000 $13.04 304 1 Bed, 1 Bath 670 1.92% $850.00 $10,200 $15.22 305 Studio/1 691 1.98% $800.00 $9,600 $13.89 306 1 Bed, 1 Bath 598 1.72% $750.00 $9,000 $15.05 307 1 Bed, 1 Bath 598 1.72% $760.00 $9,120 $15.25 308 2 Bed, 1 Bath 1,157 3.32% $1,150.00 $13,800 $11.93 309 1 Bed, 1 Bath 819 2.35% $1,070.00 $12,840 $15.68 310 2 Bed, 1 Bath 992 2.85% $1,000.00 $12,000 $12.10 311 1 Bed, 1 Bath 708 2.03% $1,000.00 $12,000 $16.95 312 1 Bed, 1 Bath 675 1.94% $875.00 $10,500 $15.56 313 Studio/1 828 2.38% $925.00 $11,100 $13.41 314 Studio/1 699 2.01% $850.00 $10,200 $14.59 315 Studio/1 636 1.83% $740.00 $8,880 $13.96 316 Studio/1 555 1.59% $750.00 $9,000 $16.22 Current Totals: 36,044 100% $41,680 $500,160 $13.88 Occupied 35,361 98.11% $40,955 $491,160 $13.89 Vacant 683 1.89% $750 $9,000 $13.18

Monthly Rent Unit Type # of Units SF/Unit Range Range Vacant 1 683 sf $750 1 Bed, 1 Bath 23 598-845 sf $650-$1,200 2 Bed, 1 Bath 9 920-1,157 sf $850-$1,225 Studio/1 15 479-828 sf $640-$1,150 Totals 48 36,053 sf $41,680

PROPERTY OVERVIEW

Marcus and Millichap is pleased to present for your acquisition consideration the Terrace Lofts at 1300 Convention Plaza. This complex offers investors the unique ability to acquire a pillar of the $5 billion renaissance in St. Louis’ Investment Highlights Central Corridor. The apartments have new plumbing, HVAC, windows, electrical, and flooring. Originally built as the world headquarters for the 7up company, this three-story building flashes architecture that is unique to its era. Terrace Lofts is approximately 55,000 square feet on the upper three floors, with a basement under two-thirds of the floor  48 Loft Apartments plate. These apartments in the St. Louis's Loft District were built in two separate sections, with two-thirds built in concrete, and one-third built with timber and red brick. The U-shape structure encompasses a large pool and landscaped courtyard in its center. All of the interior units have either a balcony or first floor patio, overlooking the courtyard and pool. The units range in size from 480-1100 square feet. This building also has limited storage units available for the  34 Gated, On-Site Parking Spaces tenants of the building. Typical features include wood and carpeted flooring, maple cabinets, birch doors, exposed brick, exposed concrete or timber ceilings, exposed stainless spiral ductwork, washer and dryer in each unit, stainless sinks, track lighting, high 10-13 foot ceilings, kitchen islands, historic operable windows, and cable-ready hook-ups. Terrace  Completely Renovated Units- New Lofts is a mid-century build that formerly served as the world headquarters for the 7up company. Residents are only a few steps from the nightlife hub of Washington Street. Cardinals fans can walk 1 mile to get to Busch Stadium or visit Plumbing, HVAC, Windows, Electrical, and the Gateway Arch, which is 1 mile.

Flooring In December 2017, the St. Louis Business Journal announced that the redevelopment two blocks up is moving forward. The historic Jefferson Arms building is slated to become a 200-room Marriott hotel along with 200 single-family  Community Courtyard and Pool apartments. The project cost is set at $104,000,000.Nearby, the City Foundry has already been launched. The Foundry is the $340 million reimagining of a vacant manufacturing site with plans for office, retail, and housing. The bold redevelopment had early commitments from tenants like Patagonia, Reformation, Zara, and Need Supply. Despite its  Developed with Exposed Brick, Concrete, immense size, though, the City Foundry was not the initial spark that set off the rebirth of Midtown. A new IKEA, and Premium Trim Finishes located immediately West of the City Foundry, is largely responsible for the economic boom. Opened late in 2015, the store is reportedly already hitting their $100 million sales goal. The IKEA project injected $110,000,000 into the area. Since then projects like BJC’s expansion ($1,000,000,000), Chouteau’s Greenway ($45,000,000 phase 1), the Shriner’s  Just off Washington Street | Named One Hospital ($60,000,000), and other loft projects in the surround space ($200,000,000) have created an entirely modern space for generations to come. Additionally, the Cortex has continued to drive direct investment from groups across the of the Ten Best Streets in America U.S. Founded in 2002, the Cortex is a collaborative effort of Washington University, Saint Louis University, and BJC Healthcare. Since its inception as a technology and innovation hub, the project has generated 4,200 high-paying jobs. By  1 Mile from Busch Stadium, Home of the late 2017, more than 1.7 million square feet of rehabbed space (along greater than $550,000,000 of investment) is due directly to the Cortex. Long term plans call for 15,000 permanent technology-related jobs and $2.3 billion of St. Louis Cardinals | 1.2 Miles from the construction on the Cortex campus alone. All of this is within one five miles of the Terrace Lofts. Gateway Arch National Park The Terrace Lofts are the gateway to redevelopment in Midtown, not the endcap. This offering provides the perfect  3 Miles from the Cortex-St. Louis’ piece for live, work, play urbanism at the heart of one of the nation’s most dramatic rebirths in commercial real estate. Emerging Technology Incubator

ST LOUIS LOFTS DISTRICT St. Louis’ urban, downtowns creative scene keeps growing and changing. The resurgence of downtown St. Louis has taken place from The Landing to Grand Center. The blocks between Tucker and 14th along Washington Avenue have been designated as the “Heart of the Loft District”. This area has quickly become one of the fastest growing regions and continues to be the most exciting and entertaining areas of downtown St Louis. An ever- growing choice of neighborhood restaurants & bars, galleries, entertainment, shopping, cultural and sporting venues, and parks along with easy access to every major highway.

LockerDome

Fitness Factory

1221 & 1227 Washington Ave

1324 Washington Ave

1228 Washington Ave

1314 Washington Ave

11 11

Subject Property 10 11 5

7 9 2 8 4

1 3 6

“New $100 Million Apartment “Marquee Real Estate Projects “The Biggest Downtown St. Tower to Include Rooftop Pool “Rate of New High-Tech Jobs Worth $234 Million Move Forward” Louis Developments & Terrace with Views Into Planned for 2018” in St. Louis Doubles” Busch Stadium” ARTICLE ARTICLE ARTICLE ARTICLE

“Developer to Invest $8 “Green Street Releases More “44 Million Cortex Project “Chemical Building Million to Revive Vacant Renderings of $83 Million Moves Forward” Apartment Closer to Reality” Midtown Building” Armory Rehab” Articles Source: www.biznow.com ARTICLE ARTICLE ARTICLE ARTICLE

TERRACE LOFTS

MARKET OVERVIEW

St Louis follows a steady growth path as vacancy declines and rents rise, leading for a bright outlook for the metro. Employment will improve modestly in 2018 as employers in the prominent local sectors of healthcare and education recently increased their pace of hiring. With rents in the area lying well below the national average, newly formed household will look to the comparatively more affordable option of renting. This year, persistent rental demand will outpace new completions, which are focused in the neighborhoods west of downtown. In response, the vacancy rate will fall, resuming an eight-year trend that was briefly interrupted in 2017 due to a construction surge. The average effective monthly rent for the area will again rise as vacancy tightens.

Consistent asset performance and high yields create an appealing market for investors. Increased transaction velocity over the past 12 months signals additional engagement in the market as investors are incentivized by positive economic metrics and multifamily fundamentals. For Class A properties, cap rates have tightened to the low-6 percent range. First-year returns for Class B complexes were 50 basis points higher, and Class C buildings featured yields in the high-6 to low-7 percent range.

The St. Louis metro encompasses the city of St. Louis; the Missouri counties of St. Charles, Jefferson, Franklin, St. Louis, Lincoln, Warren and Washington; and the Illinois counties of Madison, St. Clair, Macoupin, Clinton, Monroe, Jersey, Bond and Calhoun. The metro is near the geographic center of the United States, within 500 miles of one-third of the U.S. population, and has more than 2.8 million residents. St. Louis is the most populous county with 1 million people. The city of St. Louis, which is located at the confluence of the Mississippi and Missouri rivers, is the only city in the metro with a population of more than 300,000 citizens. METRO HIGHLIGHTS

CENTRAL LOCATION The central U.S. location and Mississippi River accessibility allow for fast access to markets both domestically and internationally. EXCELLENT TRANSPORTATION SYSTEM The St. Louis metro has extensive freight, rail and sea transportation systems, providing shipping and distribution of goods worldwide.

AFFORDABLE COST OF LIVING Home prices are well below other large markets in Midwestern states and the U.S. overall.

ECONOMY . St. Louis is highly ranked for its logistics infrastructure, bolstered by its central geographic location and easy access to major waterways. It is a significant inland port. . The region is emerging as a large financial services center, with Jones Financial locally headquartered and Reinsurance Group-America as a major employer in the area. . Government entities pursue business development and provide resources for startups, along with incubators with guidance and inexpensive office and lab space. MAJOR AREA EMPLOYERS BJC Healthcare The Boeing Co. Scott Air Force Base Washington University in St. Louis Wal-Mart SSM Healthcare St. Louis University

SHARE OF 2016 TOTAL EMPLOYMENT

8% 16% 12% 12% 6% MANUFACTURING PROFESSIONAL AND GOVERNMENT LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES BUSINESS SERVICES

19% 5% + 18% 2% 4% TRADE, TRANSPORTATION CONSTRUCTION EDUCATION AND INFORMATION OTHER SERVICES AND UTILITIES HEALTH SERVICES

DEMOGRAPHICS SPORTS . The metro is expected to add nearly 80,000 people through 2021, which will result in the formation of approximately 40,000 households. . A median home price below the national level has produced a homeownership rate of 70 percent, which is well above the national rate of 64 percent. . Roughly 31 percent of people age 25 and older hold bachelor’s degrees; among those residents, 12 percent also have earned a graduate or professional degree. 2016 Population by Age EDUCATION 6% 19% 7% 26% 28% 15% 0-4 YEARS 5-19 YEARS 20-24 YEARS 25-44 YEARS 45-64 YEARS 65+ YEARS

2016 2016 2016 2016 MEDIAN POPULATION: HOUSEHOLDS: MEDIAN AGE: HOUSEHOLD INCOME: 2.8M 1.1M 38.9 $56,700 Growth Growth U.S. Median: U.S. Median: 2016-2021*: 2016-2021*: 2.7% 3.2% 37.7 $57,200

QUALITY OF LIFE The metro boasts numerous public and private golf courses, more than 100 parks, 200 miles of trails and ARTS & ENTERTAINMENT the Gateway Arch. Many of St. Louis’ premier attractions, including the St. Louis Zoo, the St. Louis Art Museum, the Missouri History Museum and the Municipal Opera, are located in Forest Park. The park features golf courses and athletic fields. For sports fans, the area houses the St. Louis Cardinals, St. Louis Rams and the St. Louis Blues. Nearby is the Lake of the Ozarks, offering destinations for hunting, fishing, camping, hiking and spelunking. There are more than 40 colleges, universities and technical schools in the metro, enrolling around 200,000 students a year.

Population Race and Ethnicity In 2016, the population in your selected geography is 15,051. The current year racial makeup of your selected area is as The population has changed by 20.36% since 2000. It is follows: 39.28% White, 51.68% Black, 0.08% Native estimated that the population in your area will be 15,451.00 American and 6.44% Asian/Pacific Islander. Compare these to five years from now, which represents a change of 2.66% from US averages which are: 70.77% White, 12.80% Black, 0.19% the current year. The current population is 46.76% male and Native American and 5.36% Asian/Pacific Islander. People of 53.24% female. The median age of the population in your area Hispanic origin are counted independently of race. is 24.71, compare this to the US average which is 37.68. The population density in your area is 4,785.14 people per square People of Hispanic origin make up 2.12% of the current year mile. population in your selected area. Compare this to the US average of 17.65%. Households There are currently 5,604 households in your selected geography. The number of households has changed by 13.21% Employment since 2000. It is estimated that the number of households in In 2016, there are 36,443 employees in your selected area, this is your area will be 5,914 five years from now, which represents a also known as the daytime population. The 2000 Census revealed change of 5.53% from the current year. The average household that 54.13% of employees are employed in white-collar size in your area is 1.90 persons. occupations in this geography, and 44.92% are employed in Income blue-collar occupations. In 2016, unemployment in this area is 14.21%. In 2000, the average time traveled to work was 24.00 In 2016, the median household income for your selected minutes. geography is $16,748, compare this to the US average which is currently $54,505. The median household income for your area has changed by 32.68% since 2000. It is estimated that the median household income in your area will be $19,759 five years from now, which represents a change of 17.98% from the current year.

The current year per capita income in your area is $14,219, compare this to the US average, which is $29,962. The current year average household income in your area is $29,382, compare this to the US average which is $78,425.

POPULATION 1 Miles 5 Miles 10 Miles HOUSEHOLDS BY INCOME 1 Miles 5 Miles 10 Miles . 2021 Projection . 2016 Estimate Total Population 15,451 305,832 815,270 $200,000 or More 0.62% 2.24% 3.35% . 2016 Estimate $150,000 - $199,000 1.15% 2.07% 2.93% Total Population 15,051 311,041 825,966 $100,000 - $149,000 3.63% 6.43% 8.56% . 2010 Census $75,000 - $99,999 2.84% 7.14% 9.56% Total Population 14,968 312,637 829,999 $50,000 - $74,999 6.44% 13.73% 16.29% . 2000 Census $35,000 - $49,999 7.62% 13.83% 14.55% Total Population 12,505 341,876 888,322 $25,000 - $34,999 13.15% 12.61% 11.96% . Daytime Population $15,000 - $24,999 18.18% 14.83% 13.39% 2016 Estimate 50,438 452,857 972,199 Under $15,000 46.36% 27.11% 19.39% HOUSEHOLDS 1 Miles 5 Miles 10 Miles Average Household Income $29,382 $49,794 $61,460 . 2021 Projection Median Household Income $16,748 $31,077 $39,944 Total Households 5,914 134,960 346,802 Per Capita Income $14,219 $22,258 $26,245 . 2016 Estimate POPULATION PROFILE 1 Miles 5 Miles 10 Miles Total Households 5,604 135,215 348,005 . Population By Age Average (Mean) Household Size 1.90 2.19 2.31 2016 Estimate Total Population 15,051 311,041 825,966 . 2010 Census Under 20 25.95% 24.26% 25.10% Total Households 5,534 135,941 349,241 20 to 34 Years 36.68% 28.39% 23.57% . 2000 Census 35 to 39 Years 4.43% 6.59% 6.33% Total Households 4,950 141,560 364,589 40 to 49 Years 7.56% 11.61% 11.97% Growth 2015-2020 5.53% -0.19% -0.35% 50 to 64 Years 14.31% 18.39% 19.67% HOUSING UNITS 1 Miles 5 Miles 10 Miles Age 65+ 11.06% 10.78% 13.35% . Occupied Units Median Age 24.71 33.40 35.98 2021 Projection 5,914 134,960 346,802 . Population 25+ by Education Level 2016 Estimate 6,913 168,996 406,390 2016 Estimate Population Age 25+ 7,426 206,894 556,417 Owner Occupied 732 55,345 193,834 Elementary (0-8) 4.05% 3.91% 3.10% Renter Occupied 4,872 79,870 154,171 Some High School (9-11) 16.33% 11.98% 9.99% Vacant 1,309 33,781 58,385 High School Graduate (12) 24.30% 24.15% 26.67% . Persons In Units Some College (13-15) 24.56% 21.17% 22.10% 2016 Estimate Total Occupied Units 5,604 135,215 348,005 Associate Degree Only 4.18% 5.84% 6.55% 1 Person Units 54.91% 41.99% 36.39% Bachelors Degree Only 13.67% 17.03% 17.07% 2 Person Units 22.04% 28.53% 30.12% Graduate Degree 11.71% 14.43% 13.16% 3 Person Units 11.06% 13.17% 14.76% . Population by Gender 4 Person Units 6.83% 8.47% 10.31% 2016 Estimate Total Population 15,051 311,041 825,966 5 Person Units 2.66% 4.25% 4.91% Male Population 46.76% 48.14% 47.44% 6+ Person Units 2.50% 3.59% 3.51% Female Population 53.24% 51.86% 52.56%

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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015 Marcus & Millichap ACT ID Y0260522 CONFIDENTIALITY & DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepare to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, not has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

NET LEASED DISCLAIMER Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.

Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property. exclusive offering Presented By:

OFFICES NATIONWIDE www.marcusmillichap.com