REPRESENTATICE

Offering Memorandum AUTOZONE 4347Freddy’s ROUTE 130 SOUTH Frozen Custard EDGEWATERLakewood, PARK,CO NJ 08010 AERIAL PHOTO AUTOZONE

AARON’S - CORPORATE RELOCATION STORE

PENNSYLVANIA 130 NEW JERSEY

PENNSYLVANIA NEW JERSEY

173 BEDS

130

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 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 2 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 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 Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 AERIAL PHOTO AUTOZONE

CITY AUTO PARK

DISTRIBUTION CENTERS

Starbucks

BURGER KING

U.S. HIGHWAY 130 38,400 CPD

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 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 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 3 performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 AERIALMCDONALD’S PHOTO AUTOZONE DISTRIBUTION CENTER Walgreens AARON’S - CORPORATE RELOCATION STORE

U.S. HIGHWAY 130 38,400 CPD

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 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 4 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 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 Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 AERIAL PHOTO AUTOZONE

AUTOZONE 4347 Route 130 South Edgewater Park, NJ 08010

FINANCIAL SUMMARY ANNUALIZED OPERATING DATA Price $2,842,000 LEASE YEARS ANNUAL RENT CAP RATE Down Payment 100% $2,842,000 Current - 10/31/2026 $170,520.00 6.00% Cap Rate 6.0% OPTIONS ANNUAL RENT CAP RATE Building SF 7,360 SF Option 1 $187,572.00 6.60% Net Cash Flow 6.0% $170,520 Option 2 $206,329.20 7.26% Year Built 2006 Option 3 $226,962.12 7.99% Lot Size 1 Acre

LEASE SUMMARY BASE RENT $170,520 Lease Type Absolute Triple-Net (NNN) Lease Net Operating Income $170,520 Tenant AutoZone Total Return 5.0% $170,520 Roof & Structure Tenant Responsible Lease Commencement Date November 1, 2006 Lease Expiration Date October 31, 2026 Lease Term Remaining 8 Years Rental Increases 10% in Options Renewal Options 3, 5 Year Options

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 5 performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 TENANTAERIAL OVERVIEWPHOTO AUTOZONE

AARON’S - CORPORATE RELOCATION STORE

AutoZone is the nation’s leading retailer and a leading distributor of automotive replacement parts and accessories with more than 5,000 stores in US, Puerto Rico, Mexico, and Brazil. Each store carries an extensive line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured hard parts, maintenance items and accessories. AutoZone also sells automotive diagnostic and repair software through ALLDATA, diagnostic and repair information through alldatadiy.com, and auto and light truck parts and accessories through their website. For more than 30 years, AutoZone has been committed to providing the best parts, prices and customer service in the automotive aftermarket industry. Since opening its first store in Forrest City, Ark. on July 4, 1979, the company has joined the New York Stock Exchange (NYSE: AZO) and earned a spot in the Fortune 500.

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 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 6 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 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 Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 AERIALPROPERTY PHOTO DESCRIPTION AUTOZONE

INVESTMENT HIGHLIGHTS LOCATION OVERVIEW • Absolute Triple-Net (NNN) Lease with AutoZone – 8 Years Remaining Edgewater Park is a township in Burlington County, New Jersey and serves a suburb • 200,539 Residents in Growing Edgewater Park Trade Area for Philadelphia. The township spans 3.040 total square miles and is home to approximately 8,880 people as of the 2010 United States Census. The community • Excellent Location Along Highway 130 – Visible to 38,400+ Cars per Day benefits from its location, central to both Pennsylvania’s Philadelphia and New • Surrounded by National Retailers – Big Lots, CVS, Burger King, Dunkin’ Donuts, Jersey’s Trenton. Walgreens, and More Philadelphia is the largest city in the state of Pennsylvania and played an instrumental • Centrally Located between Philadelphia (19 Miles) and Trenton (18 Miles) role in American history. The city was a meeting place during the American • Average Household Income Exceeds $87K in 3-Mile Radius Revolution for the Founding Fathers of the United States who signed the Declaration of Independence in 1776. Philadelphia was one of the nation’s capitals during the • Close Proximity to Distrubtion Centers for Major Corporations – Burlington, Frito- Starbucksrevolution, and served as a temporary U.S. capital while Washington, D.C. was Lay, Wayfair under construction. Today, the area’s many universities and colleges make it a top • Down the Road from City Auto Park study destination, as the city has evolved into an educational and economic hub. • More Than 181,540 Employees in 5-Mile Radius Philadelphia is the center of economic activity in Pennsylvania and is home to several corporate headquarters. The area’s main economic sectors include financial services, healthcare, DEMOGRAPHIC REPORT biotechnology, information technology, manufacturing, oil refining, food processing, and tourism. Philadelphia is home to the Philadelphia Stock Exchange and some Population 1-Mile 3-Miles 5-Miles of the area’s largest companies including Comcast, Cigna, Colonial Penn, Sunoco, 2022 Projection 14,366 74,480 203,571 Aramark, Urban Outfitters, and Pep Boys. 2017 Estimate 13,901 73,245 200,539 The tourism industry is major contributor to the city’s economy. Philadelphia’s history Growth 2017 - 2022 3.35% 1.69% 1.51% attracts many tourists, with the Independence National Historic Park (home to the Households 1-Mile 3-Miles 5-Miles Liberty Bell, Independence Hall, and other historic sites) receiving over 5 million 2022 Projections 5,609 27,704 77,124 visitors in 2016. The city is full of culture and history, from 100-year-old cheese shops, lauded chef-run restaurants, festivals and concerts, and stunning architecture. 2017 Estimate 5,302 26,792 75,213 Philadelphia has the third largest student concentration on the East Coast with over Growth 2017 - 2022 5.78% 3.40% 2.54% 120,000 college and university students enrolled within the city and nearly 300,000 Income 1-Mile 3-Miles 5-Miles in the metropolitan area. The University of Pennsylvania, Temple University, and 2017 Est. Average Household Income $82,594 $87,169 $86,267 Drexel University comprise the city’s major research universities. 2017 Est. Median Household Income $61,944 $69,148 $66,140 2017 Est. Per Capita Income $31,514 $31,986 $32,472

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 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 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 7 performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 AERIALPROPERTY PHOTO PHOTOS AUTOZONE

AARON’S - CORPORATE RELOCATION STORE

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 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 8 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 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 Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 LOCALAERIAL MAP PHOTO AUTOZONE

Starbucks MAP

Williams-Sonoma

10 MILES 18 MILE 19 MILES 27 MILES Philadelphia Mills Trenton, Philadelphia, Philadelphia Shopping Mall New Jersey Pennsylvania International Airport

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 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 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 9 performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap ACT ID ZAA0070013 Net Leased Disclaimer Confidentiality Agreement

Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows: The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus By accepting this Marketing Brochure, you agree to treat the information contained & Millichap and it should not be made available to any other person or entity without herein regarding the lease terms as confidential and proprietary and to only use such the written consent of Marcus & Millichap. By taking possession of and reviewing the information to evaluate a potential purchase of this net leased property. information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy The information contained in this Marketing Brochure has been obtained from sources or duplicate any part of the offering memorandum. If you have no interest in the subject we believe to be reliable. However, Marcus & Millichap has not and will not verify any of property at this time, please return this offering memorandum to Marcus & Millichap. this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever This offering memorandum has been prepared to provide summary, unverified financial about the accuracy or completeness of any information provided. and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a As the Buyer of a net leased property, it is the Buyer’s responsibility to independently substitute for a thorough due diligence investigation. Marcus & Millichap has not made confirm the accuracy and completeness of all material information before completing any any investigation, and makes no warranty or representation with respect to the income purchase. This Marketing Brochure is not a substitute for your thorough due diligence or expenses for the subject property, the future projected financial performance of the investigation of this investment opportunity. Marcus & Millichap expressly denies any property, the size and square footage of the property and improvements, the presence obligation to conduct a due diligence examination of this Property for Buyer. or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or Any projections, opinions, assumptions or estimates used in this Marketing Brochure are the financial condition or business prospects of any tenant, or any tenant’s plans or for example only and do not represent the current or future performance of this property. intentions to continue its occupancy of the subject property. The information contained The value of a net leased property to you depends on factors that should be evaluated by in this offering memorandum has been obtained from sources we believe to be you and your tax, financial and legal advisors. reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a care- matters and makes no warranty or representation whatsoever regarding the accuracy or ful, independent investigation of any net leased property to determine to your satisfaction completeness of the information provided. All potential buyers must take appropriate with the suitability of the property for your needs. measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. 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 finan- cial documents related to the property and tenant. While the tenant’s past performance ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & at this or other locations is an important consideration, it is not a guarantee of future MILLICHAP AGENT FOR MORE DETAILS. success. Similarly, the lease rate for some properties, including newly-constructed fa- cilities 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 inter- rupted 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. exclusivelyExclusively listed by: listed JAMIE MEDRESS MARK RUBLE CHRIS LIND BRIAN HOSEY Executive Managing Director Senior Managing Director First Vice President Broker of Record PHOENIX OFFICE PHOENIX OFFICE PHOENIX OFFICE NEW JERSEY OFFICE Tel: (602) 687-6778 Tel: (602) 687-6766 Tel: (602) 687-6780 License: 1434917 Fax: (602) 687-6717 Fax: (602) 687-6710 Fax: (602) 687-6710 [email protected] [email protected] [email protected] OFFICES NATIONWIDE www.marcusmillichap.com