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Arcadia Place OFFERING MEMORANDUM NWC 40Th Street & Indian School Road ~ Phoenix, AZ 40Th Street

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Arcadia Place OFFERING MEMORANDUM NWC 40Th Street & Indian School Road ~ Phoenix, AZ 40Th Street Arcadia Place OFFERING MEMORANDUM NWC 40th Street & Indian School Road ~ Phoenix, AZ 40th Street Exclusively Listed By: Full service commercial real estate Jason R. Eisenberg Ryan W. Amato 2710 E Camelback Road, Suite 210 Vice President of Development & Acquisitions Senior Vice President Phoenix, AZ 85016 [email protected] [email protected] 602-468-6100 www.eisenbergcompany.com Indian School Road Arcadia Place OFFERING MEMORANDUM NWC 40th Street & Indian School Road ~ Phoenix, AZ Arcadia Place NWC 40th Street & Indian School Road ~ Phoenix, AZ TABLE OF CONTENTS AGREEMENT PROPERTY OVERVIEW MARKET ANALYSIS • Disclaimer & Confidentiality Agreement • Site Plan • Phoenix Economic & Retail Market Overview • Aerial Close-Up of Property • Economic Highlights EXECUTIVE SUMMARY • Tenant Profiles • Metro Phoenix Market Activity • Improvements Data • Retail Market Profile • Investment Opportunity • Aerial Vicinity Map • Property Summary / Financial Highlights LOCATION • Investment Highlights FINANCIALS • Demographics / Trade Area Overview • Aerial Views of Intersection • Demographics & Income Profile • Metropolitan Phoenix Overview • Tenancy Schedule • Arcadia Neighborhood Overview • Budget Arcadia Place NWC 40th Street & Indian School Road ~ Phoenix, AZ AGREEMENT DISCLAIMER and CONFIDENTIALITY AGREEMENT This confidential Offering Memorandum (“Memorandum”) is being delivered subject to the terms of the Confidentiality Agreement signed by you (“Confidentiality Agreement”) and constitutes part of the confidential property information (“Confidential Information”). It is being given to you for the sole purpose of evaluating the possible acquisition of Arcadia Place - Phoenix, Arizona (the “Property”) and is not to be used for any other purpose or made available to any other party without the prior written consent of the seller (“Seller”) or Eisenberg Company (“Eisenberg Company”, “Exclusive Advisor” or “Broker”). This Memorandum was prepared by Broker based on information supplied by Seller and Broker. It contains selected information about the Property and the real estate market, but does not contain all the information necessary to evaluate the acquisition of the Property. The financial projections contained herein (or in any other Confidential Information) are for general reference only. The projections are based on assumptions relating to the general economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or legal analysis of such documents. While the information contained in this Memorandum and any other Confidential Information is believed to be reliable, neither Broker nor Seller guarantees its accuracy or completeness. Due to the foregoing and since the Property will be sold on an “As Is, Where Is” basis, a prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the Property without reliance on this Memorandum or any other Confidential Information. Although additional Confidential Information, which may include engineering, environmental or other reports, may be provided to qualified parties as marketing proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engineering, environmental, and other experts. Seller expressly reserves the right, at its sole discretion, to reject any offer to purchase the Property or to terminate any negotiations with any party at any time with or without written notice. Seller shall have no legal commitment or obligation to any prospective purchaser unless and until a written sale agreement has been fully executed, delivered and approved by Seller and any conditions to Seller’s obligations thereunder have been satisfied or waived. Seller has retained Broker as its exclusive broker and will be responsible for any commission due to Broker in connection with a sale of the Property pursuant to separate agreement. Broker is not authorized to make any representation or agreement on behalf of Seller. This Memorandum is the property of Seller and Broker and may be used only by parties approved by Seller or Broker. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone except as permitted under the Confidentiality Agreement. Arcadia Place NWC 40th Street & Indian School Road ~ Phoenix, AZ EXECUTIVE SUMMARY INVESTMENT OPPORTUNITY Eisenberg Company, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Arcadia Place (the “Property”), a premier, newly constructed 14,000 square-foot neighborhood shopping center which was completed in June, 2017. Arcadia Place is located in Phoenix, Arizona at the northwest corner of Indian School Rd and 40th Street. Located on 1.4 acres of infill real estate in the prestigious community of Arcadia, the shopping center is 100% leased to a complementary collection of retailers. The Property’s tenancy generates a high volume of consumer traffic and income, which are strengthened through superior access and visibility to the intersection. Arcadia Place is host to an array of unique retailers: Cold Beers & Cheeseburgers, Even Stevens, Radi8 Yoga, Arcadia Meat Market, Masterpiece Doughnuts and Coffee, and Tacos, Tequila and Whiskey. Combined, these tenants provide an investor with consistent income and an attractive lease rollover profile. High barriers to entry, irreplaceable location, desirable trade area, stable cash flow and a strong mix of tenants make Arcadia Place a rare opportunity to acquire an exceptionally rare trophy investment in the prestigious neighborhood of Arcadia in Phoenix, Arizona. Arcadia Place NWC 40th Street & Indian School Road ~ Phoenix, AZ EXECUTIVE SUMMARY PROPERTY SUMMARY FINANCIAL HIGHLIGHTS Property: Arcadia Place Price $ 10,500,000 Location: NWC 40th Street & Indian School Road CAP Rate 5.65 Phoenix AZ Year-1 NOI $ 593,722 Year Built: 2017 (April 2018 - March 2019) Total Square Footage: ± 13,854 SF Occupancy: 100 % Assessor Parcel Number: 170-32-100B Gross Site Area: ± 1.37 AC Zoning: C-2, City of Phoenix Arcadia Place NWC 40th Street & Indian School Road ~ Phoenix, AZ EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS Trophy Infill Asset Developed in 2017, Arcadia Place encompasses 13,854 square feet of retail space designed with modern architec- ture that creates an attractive shopping environment. With a high profile location in the heart of Arcadia com- munities, the center consists of lease-only in-line space that provide daily needs, services and dining options to the local consumer base. Positioned just 2 miles south of the employment hub of the Mid-Town office market, Arcadia Place also provides exceptional access and visibility. Consistent Cash Flow Secured by Proven Tenants Arcadia Place is 100% leased to national/regional tenants. Exceptional Access and Visibility Prominently located at the northwest corner of Indian School Road and 40th Street, Arcadia Place is situated along two of the submarkets primary commercial thoroughfares with visibility to an estimated 47,000 vehicles each day. This outstanding visibility is supplemented with exceptional access, as Arcadia Place has 2 points of entry from two sides of the site, leading to an abundance of parking at a ratio of 10 per 1,000 leasable square feet including valet (8 per 1,000 leasable square feet not including valet). Arcadia Place is also among a large and growing population with attractive demographics in the surrounding family-oriented, extremely vibrant local economy and densely populated infill communities. Ideally Positioned in an Densely Populated Infill / Affluent Trade Area An estimated 145,000 people earning an average household income of $75,000 reside within a three-mile radius of Arcadia Place. Within a five mile radius, this population swells to nearly 305,000. Together, this population creates an ideal upper middle income demographic for Arcadia Place. Arcadia Place NWC 40th Street & Indian School Road ~ Phoenix, AZ EXECUTIVE SUMMARY DEMOGRAPHICS OVERVIEW DEMOGRAPHICS AND INCOME PROFILE Trade Area Overview Population 1-Mile Radius 3-Mile Radius 5-Mile Radius 2022 Projected Population 20,232 143,623 305,564 Arcadia Place’s strategic position within Phoenix 2017 Estimated Population 18,773 133,129 282,228 and Arcadia places the project at the center of a 2010 Census Population 17,301 121,578 252,248 desirable and affluent demographic. Growth Rate Estimated 2017 - 2022 7.77% 7.88% 8.27% The trade area within a five-mile radius consists of Growth Rate Pop 2010 - 2017 8.51% 9.50% 11.89% nearly 122,755 residents. The average household income in a one mile radius of $77,952 annually. Households 1-Mile Radius 3-Mile Radius 5-Mile Radius 2022 Projected Households 9,525 58,550 132,898 2017 Estimated Households 8,835 54,269 122,755 2010 Census Households 8,123 49,622 109,706 HH Growth Rate Projected 2017 - 2022 7.81% 7.89% 8.26% HH Growth Rate 2010 - 2017 8.77% 9.36% 11.89% Owner Occupied Households % 50.90% 48.00% 46.22% Income 1-Mile Radius 3-Mile Radius 5-Mile Radius 2017 Average Household Income $77,952 $74,387 $73,748 2017 Median Household Income $53,249 $45,985 $47,217 Arcadia Place NWC 40th Street & Indian School Road ~ Phoenix, AZ PROPERTY OVERVIEW NORTH SITE PLAN NOT DRAWN TO SCALE Arcadia Place NWC 40th Street & Indian School Road ~ Phoenix, AZ PROPERTY OVERVIEW NORTH Arcadia Place
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