PARK HILLS PLAZA ALTOONA / PA INVESTMENT SUMMARY EXECUTIVE SUMMARY

Ownership has retained Cushman & Wakefield as its exclusive sales agent to market a 100% fee interest in PARK HILLS PLAZA. This 278,586 SF grocery anchored shopping center is located in the primary retail corridor of Altoona, Pennsylvania, a three million SF retail hub drawing consumers from more than 20 miles. Anchored by Weis Markets, central Pennsylvania’s dominant grocer, the property boasts a strong roster of national and food- service tenants, including A.C. Moore, Red Robin, Panda Express, Denny’s, Mattress Firm, Harbor Freight Tools, and Dunham Sports. Weis has occupied the property since its construction in 1974, and enjoys an attractive occupancy cost of only 2.5%.

Strategically situated just off Exit 31 of Interstate-99 (55,000 VPD), Park Hills Plaza is flanked by the 775,000 SF Logan Valley Mall and enjoys significant frontage along Plank Road, Altoona’s premier retail and dining corridor. Currently 79.7% occupied, potential investors can capitalize on multiple value-creation opportunities, including the redevelopment of a former 20,962 SF cinema building located at the front of the property. Ownership is currently negotiating Letters-of-Intent with multiple national credit tenants including Starbucks and Kay Jewelers.

Future

2 PARK HILLS PLAZA Investment Summary Address: W Plank Road & Park Hills Plaza Altoona, PA 16602 Rentable Area: 278,586 SF Major Tenants: Weis, A.C. Moore, Dunham Sports, Red Robin, Harbor Freight Tools, Toys R Us Current Occupancy: 79.7% Year Built: 1974; Expanded in 1980 Financing: Free & Clear Offering Website: www.parkhillsplaza.com 99

55,000 VPD

Casa Valadez

Existing Theater

Proposed

SITE OF PROPOSED 8,850 SF

ROUTE 220/PLANK ROAD 28,000 VPD

INVESTMENT SUMMARY 3 INVESTMENT HIGHLIGHTS NATIONAL & FOOD-SERVICE BASED TENANT ROSTER WITH LONG TERM GROCER ANCHOR • Anchored by Weis Markets, central Pennsylvania’s dominant grocer, the Property boasts a strong roster of national and food-service tenants • Weis has been in occupancy since the Property’s construction in 1974 and enjoys an attractive 2.5% occupancy cost • New 2-year ground lease with Panda Express, a national quick-service restaurant focused on fast and fresh American Chinese cuisine

MULTIPLE VALUE-CREATION OPPORTUNITIES, INCLUDING REDEVELOPMENT AND LEASE-UP OF EXISTING VACANCY • Immediate value-creation opportunity through the lease-up of the existing 35,600 SF of vacancy • Potential investors will have the opportunity to redevelop a 20,962 SF former cinema building as ownership is currently negotiating Letters-of-Intent with multiple national credit tenants including Starbucks and Kay Jewelers

STRATEGIC LOCATION WITH REGIONAL DRAW & EXCELLENT ACCESSIBILITY TO MAJOR HIGHWAY NETWORK • Prime location on Plank Road, Altoona’s “Restaurant Row,” with neighboring dining options including Cracker Barrel, Longhorn Steakhouse, Olive Garden, Red Lobster, and Five Guys • Located just off Exit 31 of Interstate-99, which boasts traffic counts of approximately 55,000 vehicles per day

4 PARK HILLS PLAZA FINANCIAL SUMMARY MAJOR TENANT SUMMARY

Pro Forma Year 1 Year 3 Year 5 Tenant SF Expiration(1) Rent PSF % of GLA For the Years Ending Dec-18 Dec-20 Dec-22 Weis Markets 52,000 1/37 $3.65 18.7% Effective Gross Revenue $2,358,814 $3,196,024 $3,312,411 Toys R Us 32,500 1/35 $7.32 11.7% Total Expenses $566,604 $602,389 $626,343 Dunham's Sporting Goods 30,120 1/25 $6.60 10.8% Net Operating Income $1,792,210 $2,593,635 $2,686,068 A.C. Moore 22,900 8/35 $9.75 8.2%

(1)Assumes tenants execute renewal options

INVESTMENT SUMMARY 5 Karen Iman Robert Nation Katherine Schaad Senior Director Assistant Director Senior Brokerage Coordinator +1 215 963 4136 +1 215 963 4141 +1 215 963 4023 [email protected] [email protected] [email protected]

One Liberty Place 1650 Market Street, 33rd Floor Philadelphia, PA 19130 cushmanwakefield.com