• LOCATED 6 MILES FROM WALMART’S REGIONAL DISTRIBUTION CENTER Click Here to • VERY LOW RENT | $3.82/FT Play • NEWLY REMODELED FAÇADE | 2019 RENOVATION & PARKING LOT • CENTRALLY LOCATED, MAIN GROCERY STORE FOR STEUBENVILLE • SUPERCENTER SIGNIFICANT REDEVELOPMENTS IN ADJACENT MALL Aerial Video • ACTIVE INSTITUTIONAL MALL OWNERSHIP

Subject Property

100 Mall Drive OFFERING MEMORANDUM Steubenville, OH 43952 Confidentiality and Disclaimer

Marcus & Millichap hereby advises all prospective purchasers of properties, including newly-constructed facilities or newly- income or expenses for the subject property, the future projected Net Leased property as follows: acquired locations, may be set based on a tenant’s projected financial performance of the property, the size and square sales with little or no record of actual performance, or footage of the property and improvements, the presence or The information contained in this Marketing Brochure has been comparable rents for the area. Returns are not guaranteed; the absence of contaminating substances, PCB’s or asbestos, the obtained from sources we believe to be reliable. However, tenant and any guarantors may fail to pay the lease rent or compliance with State and Federal regulations, the physical Marcus & Millichap has not and will not verify any of this property taxes, or may fail to comply with other material terms of condition of the improvements thereon, or the financial information, nor has Marcus & Millichap conducted any the lease; cash flow may be interrupted in part or in whole due to condition or business prospects of any tenant, or any tenant’s investigation regarding these matters. Marcus & Millichap makes market, economic, environmental or other conditions. Regardless plans or intentions to continue its occupancy of the subject no guarantee, warranty or representation whatsoever about the of tenant history and lease guarantees, Buyer is responsible for property. The information contained in this Marketing Brochure accuracy or completeness of any information provided. conducting his/her own investigation of all matters affecting the has been obtained from sources we believe to be reliable; intrinsic value of the property and the value of any long-term however, Marcus & Millichap has not verified, and will not verify, As the Buyer of a net leased property, it is the Buyer’s lease, including the likelihood of locating a replacement tenant if any of the information contained herein, nor has Marcus & responsibility to independently confirm the accuracy and the current tenant should default or abandon the property, and Millichap conducted any investigation regarding these matters completeness of all material information before completing any the lease terms that Buyer may be able to negotiate with a and makes no warranty or representation whatsoever regarding purchase. This Marketing Brochure is not a substitute for your potential replacement tenant considering the location of the the accuracy or completeness of the information provided. All thorough due diligence investigation of this investment property, and Buyer’s legal ability to make alternate use of the potential buyers must take appropriate measures to verify all of opportunity. Marcus & Millichap expressly denies any obligation property. the information set forth herein. to conduct a due diligence examination of this Property for Buyer. By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it NON-ENDORSEMENT NOTICE Any projections, opinions, assumptions or estimates used in this harmless from any kind of claim, cost, expense, or liability arising Marketing Brochure are for example only and do not represent out of your investigation and/or purchase of this net leased Marcus & Millichap Real Estate Investment Services, Inc. the current or future performance of this property. The value of a property. (“M&M”) is not affiliated with, sponsored by, or endorsed by any net leased property to you depends on factors that should be commercial tenant or lessee identified in this marketing package. evaluated by you and your tax, financial and legal advisors. CONFIDENTIALITY AND DISCLAIMER The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or Buyer and Buyer’s tax, financial, legal, and construction advisors The information contained in the following Marketing Brochure is endorsement by, said corporation of M&M, its affiliates or should conduct a careful, independent investigation of any net proprietary and strictly confidential. It is intended to be reviewed subsidiaries, or any agent, product, service, or commercial listing leased property to determine to your satisfaction with the only by the party receiving it from Marcus & Millichap and should of M&M, and is solely included for the purpose of providing suitability of the property for your needs. not be made available to any other person or entity without the tenant lessee information about this listing to prospective written consent of Marcus & Millichap. This Marketing Brochure customers. Like all real estate investments, this investment carries significant has been prepared to provide summary, unverified information risks. Buyer and Buyer’s legal and financial advisors must request to prospective purchasers, and to establish only a preliminary ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE and carefully review all legal and financial documents related to level of interest in the subject property. The information CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE the property and tenant. While the tenant’s past performance at contained herein is not a substitute for a thorough due diligence DETAILS. this or other locations is an important consideration, it is not a investigation. Marcus & Millichap has not made any investigation, guarantee of future success. Similarly, the lease rate for some and makes no warranty or representation, with respect to the

100 Mall Drive, Steubenville, OH 43952 Table of Contents Investment Highlights 4

Financial Overview 5

Tenant Overview 6

Location Overview 7

Mall Map & Information 8

Property Photos 9

Surrounding Area 10

Regional Map 11

Demographics 12

Market Overview 13

SUPERCENTER Investment Highlights PRICE: $13,008,130 | CAP: 6.15% | RENT: $800,000 About the Investment ✓ 25-Year Absolute Triple-Net (NNN) Ground Lease | Zero Landlord Responsibilities | 7.5 Years of Term Remaining Subject Property ✓ With ~8 Years of Term Remaining, Walmart Completely Renovated the Façade in 2019 ✓ Corporate Guaranty | Walmart Stores, Inc ✓ Four (4), Ten (10)-Year Tenant Renewal Option Periods ✓ Very Low Rent Per Square Foot of $3.82 ✓ Large Lot | 16.21 Acres About the Location ✓ Located 2 Miles From $40 Million, 880,000 SF Walmart Distribution Center | Increasing Efficiency and Operating Costs on an Already Very Low RPSF Making this a Well- Stocked, Long-Term Location for the Tenant ✓ Irreplaceable Location Within Significant Trade Area | Over 60 Stores, Services, and Restaurants | Powerful Lineup of Anchor Tenants | Institutionally Owned ✓ Steubenville’s Main Grocery Provider, Centrally Located Within the Market ✓ Major National Tenants In The Surrounding Area Include: Lowe’s Home Improvement, Lowe’s Home Improvement, Aldi, Harbor Freight Tools, AMC Theatres, JC Penney, Dick’s Sporting Goods, Aspen Dental, Texas Roadhouse, Applebee’s, Dollar Tree, Ollie’s Bargain Outlet, DaVita, McDonalds, Chase Bank, T.J. Maxx, Kroger, and numerous others Subject Property ✓ Strong Traffic Counts | Highway-22 and Lovers Lane| Average Daily Traffic Counts of 20,662 and 40,364 Vehicles Respectively ✓ Walmart Target Market | Accessible From Multiple Highways and Three Different States | 24,670 & 92,998 People Within 3 & 10-mile Radii ✓ Proximity to Major Economic Drivers & Cities | 35 Minutes From Pittsburgh, PA | Part of Fort Steuben Mall, Undergoing Major Improvements and Redevelopment | Minutes From Major Trinity Health Hospitals and Medical Campuses | Less than 4-Miles From Franciscan University of Steubenville ✓ Economic Improvement Measures | Increased Infrastructure into Pittsburgh, PA | Development of Downtown Marina | Development of Entertainment Center at Fort Steuben Mall | $75 Million Expansion to Trinity Hospital About the Tenant / Brand ✓ World’s Largest Company by Revenue | $514.4 Billion ✓ Investment Grade Tenant | S&P: AA | Moody’s: Aa2 ✓ Most Profitable Retailer Listed on The New York Stock Exchange (NYSE: WMT) ✓ Serves 275 Million Customers Daily

Walmart – Steubenville, OH 4 Financial Overview PRICE: $13,008,130 | CAP: 6.15% | RENT: $800,000 PROPERTY DESCRIPTION RENT SCHEDULE Property Walmart Rent Escalation Lease Year(s) Annual Rent Monthly Rent Property Address 100 Mall Drive (%) City, State, ZIP Steubenville, OH 43952 8/14/2002-8/13/2027 $800,000.00 $66,667 - Year Built / Renovated 2002 Option 1 $840,000.00 $70,000 5.00% Building Size 209,621 SF Option 2 $882,000.00 $73,500 5.00% Lot Size +/- 16.21 Acres Option 3 $926,100.00 $77,175 5.00% Type of Ownership Ground Lease Option 4 $972,405.00 $81,034 5.00% Maintenance & Repair Lessee is responsible for the full maintenance and THE OFFERING repair of the building, including roof & structure. Annual Rent $800,000 Insurance Lessee agrees to provide and keep in force GL CAP Rate 6.15% insurance naming the lessor as additional insured. Purchase Price $13,008,130 As long as lessee’s net worth shall exceed Price / SF $62.06 $100,000,000 it shall have the right to self insure Rent / SF $3.82 Utilities Lessee pays all utilities directly, including parking lot illumination LEASE SUMMARY Common Area Lessee shall pay pro rata share of CAM cost. The Property Type Fee Simple Office Maintenance annual budget for CAM costs shall be provided to Ownership Type Public lessee by lessor annually in advance and shall not Tenant / Guarantor Walmart Stores, Inc exceed 110% of the actual CAM costs incurred for the prior calendar year. Lessee also has the option Credit Rating AA/Aa2 | Investment Grade upon 30 days prior written notice to lessor to elect Original Lease Term 25 Years to perform its own maintenance of the common Lease Commencement August 14, 2002 areas. Lease Expiration August 13, 2027 Investment Summary Lease Term Remaining 7.6 Years Marcus and Millichap is pleased to present the exclusive listing for a Walmart Lease Type NNN located at 100 Mall Drive in Steubenville, Ohio. The property is made up of 209,621 square feet of building space and sits on approximately 16.21 acres of Roof, Structure Tenant Responsible land. The property is subject to a 25-year triple-net (NNN) ground lease with 7.5 Rental Increases In Options years remaining and zero landlord responsibilities. The current annual rent is Options to Renew Four (4), Ten (10)-Year $800,000 and is scheduled to increase by five percent commencing in the four, ten-year tenant renewal options. Walmart – Steubenville, OH 5 Tenant Overview

GUARANTOR ON LEASE Walmart Stores, Inc Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, HEADQUARTERS DATE FOUNDED headquartered in Bentonville, Arkansas. Each week, over 275 million customers Bentonville, AR 1945 and members visit Walmart’s more than 11,400 stores under 58 banners in 27 different countries and eCommerce websites. Walmart is the world’s largest LOCATIONS OWNERSHIP company by revenue, with $514.405 billion. It is also the largest private 11,438+ Public employer in the world with 2.2 million employees. Walmart was listed on the

CREDIT RATING REVENUE New York Stock Exchange (NYSE: WMT) in 1972, and by 1988 became the S&P AA $514.4B most profitable retailer in the United States. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. www.walmart.com

Walmart – Steubenville, OH 6 Location Overview Property Address: 100 Mall Drive, Steubenville, Ohio 43952

This Walmart investment property is located 100 Mall Drive in Steubenville, Ohio at the western side of the Fort Steuben Mall and the three-state juncture of Ohio, West Virginia, and Pennsylvania. Mall Drive is a busy connector between two of Steubenville’s major arteries, John Scott Highway & Lovers Lane which have traffic counts of 21,453 and 40,364 vehicles per day, respectively. With the abundance of vehicle traffic in the immediate area, ADTC: 20,662 Mall Drive has its own traffic counts of almost 12,000 vehicles daily. The subject property is located less than 2 miles from Highway 22 which provides direct access to and from Pittsburgh, Pennsylvania, 35 minutes west. There are more than 24,600 individuals within a three-mile radius of the subject property and nearly 93,000 within a 10-mile radius of this Walmart.

Walmart has directly invested to their commitment in this market through the development ADTC: 40,364 of an 880,000 square foot distribution center 6 miles north of Steubenville, employing more than 600 people. The sprawling complex, estimated to have cost more than $40 million, supports 80-100 stores within a 300 miles region. The subject property is the closest Walmart location to this distribution center, decreasing costs of operation and increasing output. Additionally, the nearest Walmart store to the subject property lies more than 10 miles away over the Ohio River in the far-less dense or active market of Weirton, West Virginia. ADTC: 21,217

This Walmart benefits from being positioned within the densest trade area in the region consisting of national and local tenants. Major nearby retailers include Lowe’s Home Improvement, Aldi, Harbor Freight Tools, AMC Theatres, JC Penney, Dick’s Sporting Goods, Aspen Dental, Texas Roadhouse, Applebee’s, Dollar Tree, Ollie’s Bargain Outlet, DaVita, ADTC: 11,858 McDonalds, Chase Bank, T.J. Maxx, Kroger, and numerous others. Also located nearby is Trinity Health System’s West Campus, which is currently undergoing a $75 million, 183,400 square foot expansion. This hospital, together with the East Campus, has a combined capacity of over 471 beds and employs more than 2,500 people, 1,650 of which are located at the nearby West campus. An additional nearby point of interest and economic driver is the Franciscan University of Steubenville, a private Catholic university with an enrollment of more than 2,700 students and more than 48 undergraduate and graduate degrees offered. Additional economic development has been announced to construct a brand-new marina to the riverfront, dedicating millions of dollars connecting it to Downtown.

The Fort Steuben Mall is making way for a new entertainment center catering to all ages. The owners have announced that the new development will attract business throughout the day, ADTC: 3,892 providing youth with a new place of entertainment and remaining open late for adults. The complex will encompass more than 120,000 square feet and employ more than 200 people. This entertainment hub will be unique to the region, expanding its reach to nearby counties like Pittsburgh, Columbus, and Cleveland who do not have anything similar. The subject Walmart will only stand to benefit from increased all-day traffic. Walmart – Steubenville, OH 7 Mall Map & Information

New Entertainment Center (120,000sf)

Only Significant Vacancy | Purchased 2018 by FL- Based Developer

The adjacent property, Fort Steuben Mall, is owned by an active, premier Lionheart Capital is a Miami-based global real estate investment and institutional mall investor, Kohan Retail Investment Group (KRIG). KRIG sees development firm involved with the successful acquisition, development, and the future of malls as a place for more than just shopping and recognizes malls repositioning of assets totaling over $4 billion internationally. Lionheart Capital are evolving and are no longer just a tent to house box stores and chains but subsidiary, Out of the Box Ventures was formed in 2017 to reposition are home to more local small- and medium-sized businesses of all stripes. KRIG distressed retail properties nationally, acquiring the vacant Macy’s space within owns 29 malls in 18 states throughout the country Fort Steuben Mall a year later. With over 28 properties in 17 states, the company currently owns in excess of 5,500,000 SF of big boxes, shopping centers and enclosed regional malls. Walmart – Steubenville, OH 8 Property Photos

Friday | 1:00 PM Click Here to Play

Aerial Video

Wednesday | 3:00 PM

Walmart – Steubenville, OH 9 Surrounding Area

Fort Steuben Entertainment Center

Walmart – Steubenville, OH 10 Regional Map

OHIO PENNSYLVANIA

WEST VIRGINIA

Walmart – Steubenville, OH SUBJECT PROPERTY 11 Demographics Property Address: 100 Mall Drive, Steubenville, Ohio 43952

3 Mile 5 Miles 10 Miles POPULATION 10 Miles 2018 Estimate 24,670 43,110 92,998 INCOME Average $58,654 $59,067 $60,439 Median $41,336 $43,548 $45,644 Per Capita $24,921 $25,206 $25,792 5 Miles HOUSEHOLDS 3 Miles 2018 Estimate 10,111 17,956 39,190 HOUSING 2018 $105,036 $101,993 $100,830

EMPLOYMENT 2018 Daytime 31,047 46,198 86,088 Population 2018 8.38% 7.86% 7.15% Unemployment 2018 Median Time 19 22 25 Traveled

RACE & ETHNICITY White 82.65% 87.30% 91.94% Native American 0.04% 0.03% 0.02% African American 11.95% 8.35% 4.89% Asian/Pacific 0.72% 0.62% 0.49% Islander

Walmart – Steubenville, OH 12 Market Overview City: Steubenville| County: Jefferson | State: Ohio

Pittsburgh, PA Steubenville, OH is a city in and the county seat of Jefferson County, Ohio, United States. Located along the Ohio River 33 miles from Pittsburg. The city's name is derived from Fort Steuben, a 1786 fort that sat within the city's current limits and was named for Prussian military officer Baron Friedrich Wilhelm von Steuben. Today, a replica of the fort is open to the public. Steubenville's nickname is the "City of Murals", after its more than 25 downtown murals. Both the campuses of Franciscan University of Steubenville and Eastern Gateway Community College are in Steubenville. It is known as the city where entertainer Dean Martin of the Rat Pack was born and raised. It is also known for the Steubenville Nutcracker Village, an annual Christmastime event. Steubenville is a principal city of the Weirton–Steubenville, WV-OH Metropolitan Statistical Area, which had a 2010 population of 124,454 residents.

Major Employers EMPLOYER # OF EMPLOYEES * Weirton Steel Corporation 2,832 Trinity West 1,650 Bishop John King Mussio School 1,300 Walmart 1,102 Weirton Medical Center Inc 1,100 Addus Home Care 1,060 Weirton Medical Corporation 1,000 Trinity Medical Center East 902 County of Jefferson 750 Trinity Health West 625 Kroger 588 Timet Toronto 527

Walmart – Steubenville, OH 13 SUPERCENTER

Exclusive Net Lease Offering

Michael Glass Marcus & Millichap License # BRK.2007005898 100 Mall Drive, Steubenville, OH 43952