www.ari-el.com Real Estate & Development Services Arie Leibovitz and Scott Leibovitz Ari-El Enterprises, Inc. was established in 1979 by Arie Leibovitz to focus on the acquisition, development and management of real estate investment properties. Over the years, the company has prospered through the rise and fall of the markets, surviving the turbulent tides that have left so many in its wake. Scott Leibovitz joined his father Arie Leibovitz in 1996 and together they have assembled a very talented staff of professionals who are experts Mitsubishi Electric Automotive in Centennial Business Park in their respective fields. Barak Leibovitz, Northville, MI Arie’s youngest son, joined the team in 2016 to learn the business and add his fresh perspective to business operations.

Ari-El Enterprises operates a diverse portfolio of over three million square feet of space which includes industrial parks, office buildings, retail centers and apartments.

The properties are primarily concentrated in the suburban metropolitan areas of southeast .

Huron Commerce Center New Boston, MI

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442

Ari-El Enterprises is a full service real estate organization. The company's success is based on comprehensive in-house capabilities in acquisition, development, finance, leasing, property Eagle Two on Citation Drive management and construction Brighton, MI management. Ari-El Enterprises consistently applies a highly effective team approach to maximize returns. This synergy facilitates the creation of new paradigms which enables the company to anticipate potential - then develop and implement innovative solutions.

Kerby’s is part of Kingswood Shopping Center Bloomfield Hills, MI

Ann Arbor Commerce Center Ann Arbor, MI

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442

The acquisition or development of a profitable real estate venture demands a series of complex, interrelated decisions in which not only bricks and mortar must be recognized, but elements such as marketing, Mitsubishi Electric Automotive Centennial Business Park operations and financing must be considered Northville, MI simultaneously. The ability to implement and see the total picture has been paramount to the company's continuing leadership. Few firms have integrated the skills, quality and ownership staying power to make it all work. Indeed, Ari-El Enterprises knows real estate from the ground up.

Bridge Commerce Center I Southfield, MI

Regency Centre - New Construction in 2016 Novi, MI Kingswood Office Building Bloomfield Hills, MI

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442

Valuable experience gained by operating profitably and creatively through varying Regency Center Novi, MI market cycles has taught the Leibovitz’ how to build a company with a long-term point of view. Today, the company is a much stronger business enterprise and an industry leader exceptionally well positioned for accelerated growth, now and long into the future.

Extraordinary instincts and an entrepreneurial spirit are carefully balanced while minimizing risk for investors and partners. Above all, the company has a proven ability to recognize a market's potential and 74 W. Long Lake structure financing to maximize benefits. Bloomfield Hills, MI

37300 Dequindre Professional Plaza Sterling Heights, MI

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442

Farmington Hills Industrial Center The acquisition of a substantial real estate Farmington Hills, MI portfolio is a prolonged and challenging undertaking. Making the assts work is just as challenging, and certainly deserves no less planning. Ari-El Enterprises' asset management team is focused on determining exactly how the company's current holdings can be used most efficiently in view of current and projected real estate trends. It is the formulation of a workable and realistic strategy for achieving goals over an extended time period. In every case, the goal is to 10 Square Lake Office Building achieve maximum capital appreciation in Bloomfield Hills, MI the shortest period of time, while ensuring long-term investment value.

Hilltop Research & Development Center Fashion Square West Mall, Southfield, MI Saginaw, MI

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442

Ari-El Enterprises is proud of its accomplishments over the past three decades and is positioned to anticipate Kirts Office Park - West and act upon new opportunities and Troy, MI market trends. The company is well capitalized thanks to many long-standing relationships with investors and lenders. Furthermore, immediately after a property is acquired, Ari-El has all the in-house resources required to protect and enhance the value of the asset over the long term.

Today, the company is aggressively seeking opportunities to expand its portfolio through the acquisition of new investments. Above all, Ari-El Enterprises is committed to well-paced, Dakota Office Building controlled growth which yields long-term Ann Arbor, MI benefits for valued tenants and joint venture partners.

29355 Northwestern Hwy. (Ari-El Enterprises, Inc. corporate headquarters) Southfield, MI

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442

Acquiring under performing properties in Kingswood Plaza at Acquisition prime locations and converting them into their highest and best use is a key element of Ari-El Enterprises' strategic vision.

This unique mixed-use development demonstrates the company's outstanding cre- ativity. When acquired, the property origi- nally housed a shopping center and movie theater. Today, Kingswood Plaza has been expanded and reshaped to form a first-

Phase I in Progress class two-story office building and retail cen- ter of 117,000 square feet.

The movie theater was converted to a one- story office building. Later down the road, the office building was expanded by adding a second story. Not only did this elevate the character of the building but it also enhanced the overall value of the entire development.

By employing progressive development in Phase II Completion of Kingswood Office Building phases and working with a keen sense of a property's full potential, this change-of-use has generated continuous strong returns to investors.

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442

After a bank merger created an empty branch facility in a prime location, Ari-El Enterprises saw an outstanding build-to-suit opportunity in Farmington Hills. The vacant building hid the full potential of this valuable retail site. The bank branch was demolished and the site was redeveloped into a prime retail location with Party City as the anchor tenant.

In a second unique project, Ari-El Enterprises demolished the Kabobgy Lebanese Restaurant and constructed a strip Party City center for a higher use of its prime Southfield Farmington Hills, MI location on busy Northwestern Highway south of 12 Mile Road.

However, this project entailed far more than mere building construction. The development process necessitated other areas of expertise, such as successfully obtaining variances in zoning, parking and cross access. The center is now a busy enterprise with Leo’s Coney Island and Tim Horton’s as an- chor tenants.

Northwestern Highway Plaza Changing once-vacant properties into vital Redevelopment of Kabobgy Restaurant site Southfield, MI retail facilities requires the kind of vision and foresight that are hallmarks of Ari-El Enterprises.

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442

Arie Leibovitz has devoted his entire business life to the acquisition, development and management of real estate investment properties. After several years of learning the real estate business from the ground up, Mr. Leibovitz founded Ari-El Enterprises in 1979. Ari-El Enterprises was established to take advantage of Mr. Leibovitz' skills in maximizing real estate asset values. Today, the company is an agile enterprise that is poised to act quickly on profitable investment opportunities of any scope.

Mr. Leibovitz and his dedicated staff of professionals currently operate a diverse portfolio comprised of more than three million square feet of high-quality industrial, office, retail and residential properties.

While maintaining a long-term point of view, Arie Leibovitz' keen instincts and entrepreneurial spirit are carefully balanced with his knowledge of how to minimize risk for partners, investors and lenders.

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442

Scott Leibovitz is a third generation real estate entrepreneur. He joined Ari-El Enterprises full time in 1996. Before joining Ari-El, Scott held both part-time and full-time positions in retail and residential real estate sales.

Mr. Leibovitz’ duties consist of management of the day-to-day issues of Ari-El Enterprises' diverse group of properties. He plays a major role in lease negotiations and lease renewals, public relations and marketing, due diligence research, contractor negotiations and construction services.

Mr. Leibovitz enjoys traveling with his wife Rachel and their two children. He has studied and lived all over the world including Israel, East Africa, Europe and Hilton Head Island, South Carolina. He is a member and student of the IRE.

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442

Patrick Kobylarz maintains a dual role with Ari-El Enterprises. Certified as Controller of the real estate development side of the firm, he oversees the company's portfolio including acquisitions, financing, investments, property taxes and operating budgets.

Within the area of property management, Mr. Kobylarz manages the accounting department, reviews operational procedures and establishes internal controls. He also oversees benefits, payroll and 401(k) plans. In addition, he is responsible for strategic planning and implementation of the company's information systems.

Before joining Ari-El Enterprises in 1988, Mr. Kobylarz held senior auditor positions with a Fortune 100 corporation and a “Big 8” accounting firm.

Mr. Kobylarz is a Certified Public Accountant, Certified Information Systems Auditor, a Licensed Residential Builder and also has his Real Estate License.

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442

Karen Atkins assists the Executive Team with property acquisitions, due diligence research, sale of properties, refinance of current loans and she monitors the Property Management and Accounting Departments. She schedules appointments and coordinates travel plans for the President; receives, prepares, organizes and maintains all correspondence and documents between the President and partners, managers and clients. Karen also plays a central role in Ari-El's administrative operations.

Ms. Atkins is a veteran with over 25 years of business, legal and real estate property management experience.

In addition to enjoying the fast pace of her professional life, Karen enjoys reading, cooking and spending time with family, friends and her dog. She is a person that craves being outdoors and staying active, and can quite often be found hiking or biking on the trails around the state.

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442 PROPERTIES OWNED & MANAGED BY ARI-EL

INDUSTRIAL PROPERTIES RETAIL PROPERTIES

1700 Lincoln Ann Arbor Commerce Center 28575 Grand River Madison Heights Phoenix & Varsity Drive, Ann Arbor Farmington Hills

29305 Orchard Lake Road 14660 Twenty Three Mile Road Arie Farmington Farmington Hills Shelby Township 24000-Haggerty Road, Farmington Hills 29321 Orchard Lake Road Farmington Hills 15180 Keel Street Bridge Commerce Centers I & 2 Plymouth Bridge Street, Southfield 5656 W. Maple Road West Bloomfield 15603 Centennial Citation Center Northville 10381 - 10421 Citation, Brighton Belle Valley Plaza 579-605 N. Cedar Street, Imlay City

15701 Centennial Crestview Court Commerce Center Fashion Square West Northville 24711-24723 Crestview Ct, Farmington Hills 4675-4721 Bay Road, Saginaw

Kingswood Shopping Center 2000 Haggerty Road Farmington Hills Industrial Center Woodward Ave., Bloomfield Hills West Bloomfield 24730-24804 Crestview Ct, Farmington Hills North Kent Mall 24700 Drake Road Fraser Commerce Center Plainfield Ave. NE, Grand Rapids Farmington Hills 18321-18333 Mike C Court, Fraser Northwestern Highway Plaza

28565-28595 Northwestern, Southfield 26100 Pinehurst Galloway Development Madison Heights 2275-2295 N. Opdyke, Auburn Hills Sagamore Plaza 30754-30776 Woodward, Royal Oak 2700 Bond Street General Court Commerce Center Rochester Hills 9165-9187 General Court, Plymouth Waterford Plaza 5570-5640 Dixie Hwy., Waterford 2770 Research Drive Hilltop Research & Development Center OFFICE PROPERTIES Rochester Hills 21421 Hilltop, Southfield 10 West Square Lake 3160 Ridgeway Huron Commerce Center Bloomfield Hills Commerce Township Woodland & Commerce Dr., New Boston 12425-35 Merriman Road Livonia 42960-70 W. 10 Mile Road Jeffries Tech Center Novi 37703-37633 Schoolcraft Road, Livonia 29355 Northwestern Highway 29333-29425 Northwestern, Southfield 650 Mandoline Novi Industrial Center 37300 Dequindre Office Plaza Madison Heights Heslip Drive, Novi Dequindre Road, Sterling Heights

7845 Middlebelt Road Plymouth Commerce Building Chrysler Hall Romulus 41170-41300 Joy Road, Plymouth Cleary Drive, Howell

Dakota Office Building 900 W. Maple Road Regency Center 1785 W. Stadium, Ann Arbor Troy Regency Drive, Novi Kingswood Office Building Amrhein Commerce Center Techtron Centre 43097 Woodward, Bloomfield Hills

Amrhein Road, Livonia 23399 Commerce Drive, Farmington Hills Kirts Office Park & Kirts West 800-1282 Kirts Boulevard, Troy

74 W. Long Lake Bloomfield Hills 29355 Northwestern Hwy., Suite 301 Southfield, Michigan 48034 Telephone (248) 557-3800 Facsimile (248) 557-6442 www.ari-el.com CORPORATE RESOURCES & REFERENCES

FINANCIAL INSTITUTIONS CLIENT REFERENCES

Aetna Bark-A-Bout Matcor Automotive (Michigan), Inc. American Family Life Insurance Bath Fitter Millcraft Paper Company American National Insurance Co. Beaumont Hospital Michigan Power Rodding Comerica Bank Belfor USA Group, Inc. Mission Foods Huntington Bank Bex, Inc. Independent Bank Mitsubishi Automotive Electronic TCF Bank Crane Pro Services (Konecranes) Engineering, Inc. Wells Fargo Bank Congresswoman Debbie Dingell Molly Maids Detroit Auto Brokers MSX International ACCOUNTING RESOURCES Neptune Society Disabled American Veterans Deloitte & Touche LLP Direct Optical Nestle’s Professional Vitality Berger, Ghersi & LaDuke PLC DirectRx Old Country Buffet Dollar Tree Orkin LEGAL REPRESENTATION Donna Sacs Panda Express Jaffe Law Firm Dorsey Schools Party City Corporation Dawda Mann Dunham’s Athleisure Corporation Planet Fitness

Qdoba PROFESSIONAL MEMBERSHIPS Dunkin’ Donuts Family Farm & Home Rand Worldwide BOMA® First American Title Insurance Co. Sanovo Engineering USA, Inc. International Council of Shopping Centers Gail & Rice, Inc. Security Corporation IREM® Signs by Tomorrow Greater Detroit Chamber of Commerce Garda International Nacore International Goodwill Industries Simons-Michelson-Zieve Advertising Accredited Management Organization Government Service Administration Staples the Office Superstore Hospice of Michigan Stuart Mechanical, LLC ACCREDITATIONS ICEE-USA Corporation Subway

AMO (Accredited Management Organization(® Jets Pizza Tim Horton’s CMP (Certified Property Manager)® Kerby's Coney Island Trelleborg Rubore

LICENSES LaMarsa Restaurant U. S. Army/Air Force Laser Mechanisms, Inc. UL, LLC 1 Real Estate Broker Leo’s Coney Island VA - Regional Counseling Service 1 Associate Real Estate Broker Whitesell International (Fabristeel) 5 Real Estate Sales Lowe’s Home Centers, Inc. 3 Residential Builders M.G.M. Electric Motors USA, Inc.

29355 Northwestern Hwy., Suite 301 Real Estate & Development Services Southfield, Michigan 48034 www.ari-el.com Telephone (248) 557-3800 Facsimile (248) 557-6442 5.1.2017