±0.32 ACRES IN THE HEART OF DOWNTOWN

SOUTH 5TH ST

HENNEPIN AVE

FOR SALE MIXED-USE DEVELOPMENT 25-33 SOUTH 5TH ST | MINNEAPOLIS, MN AFFILIATED BUSINESS DISCLOSURE DISCLAIMER This Memorandum contains select information pertaining to CBRE, Inc. operates within a global family of companies with the Property and the Owner, and does not purport to be all- CONTACTS many subsidiaries and related entities (each an “Affiliate”) inclusive or contain all or part of the information which engaging in a broad range of commercial real estate prospective investors may require to evaluate a purchase of businesses including, but not limited to, brokerage services, the Property. The information contained in this Memorandum BRIAN PANKRATZ property and facilities management, valuation, investment has been obtained from sources believed to be reliable, but fund management and development. At times different has not been verified for accuracy, completeness, or fitness First Vice President Affiliates, including CBRE Global Investors, Inc. or Trammell for any particular purpose. All information is presented “as is” Crow Company, may have or represent clients who have without representation or warranty of any kind. Such competing interests in the same transaction. For example, information includes estimates based on forward-looking +1 952 924 4665 Affiliates or their clients may have or express an interest in assumptions relating to the general economy, market [email protected] the property described in this Memorandum (the Property”), conditions, competition and other factors which are subject and may be the successful bidder for the Property. Your to uncertainty and may not represent the current or future receipt of this Memorandum constitutes your performance of the Property. All references to acreages, acknowledgement of that possibility and your agreement square footages, and other measurements are approximations. MIKE WILHELM that neither CBRE, Inc. nor any Affiliate has an obligation to This Memorandum describes certain documents, including disclose to you such Affiliates’ interest or involvement in the leases and other materials, in summary form. These summaries Senior Vice President sale or purchase of the Property. In all instances, however, may not be complete nor accurate descriptions of the full CBRE, Inc. and its Affiliates will act in the best interest of their agreements referenced. Additional information and an respective client(s), at arms’ length, not in concert, or in a opportunity to inspect the Property may be made available to +1 612 336 4261 manner detrimental to any third party. CBRE, Inc. and its qualified prospective purchasers. You are advised to [email protected] Affiliates will conduct their respective businesses in a manner independently verify the accuracy and completeness of all consistent with the law and all fiduciary duties owed to their summaries and information contained herein, to consult with respective client(s). independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s CONFIDENTIALITY AGREEMENT suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK. Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum The Owner expressly reserves the right, at its sole discretion, solely for your limited use and benefit in determining whether to reject any or all expressions of interest or offers to purchase you desire to express further interest in the acquisition of the the Property, and/or to terminate discussions at any time with Property, (ii) you will hold it in the strictest confidence, (iii) or without notice to you. All offers, counteroffers, and you will not disclose it or its contents to any third party negotiations shall be non-binding and neither CBRE, Inc. nor without the prior written authorization of the owner of the the Owner shall have any legal commitment or obligation Property (“Owner”) or CBRE, Inc., and (iv) you will not use except as set forth in a fully executed, definitive purchase and any part of this Memorandum in any manner detrimental to sale agreement delivered by the Owner. the Owner or CBRE, Inc. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.

© 2018 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited.

2 TABLE OF CONTENTS

PROPERTY SUMMARY 4

NEIGHBORHOOD INFORMATION 11

OFFICE OVERVIEW 15

RESIDENTIAL OVERVIEW 25

HOTEL OVERVIEW 30

ADDITIONAL PROPERTY INFORMATION 33

DEMOGRAPHICS 39

MARKET OVERVIEW 45

3 PROPERTY SUMMARY PROPERTY SUMMARY The 25-33 property offers a well located redevelopment or adaptive reuse property in FUTURE CONVERSION OR REUSE POTENTIAL the heart of the Minneapolis CBD. The property is located adjacent to two stops on the Blue Line Light Rail creating an immediate Transited Oriented Development (TOD) for The 25-33 buildings provide an ideal conversion or re-use to hotel, office, or residential tenants or residents of the property. The City of Minneapolis has issued over $1 billion of users by renovating the buildings. The potential to add onto the buildings vertically is a permits for the last 6 years making the property ideally suited for hotel, office, or residen- possibility along with including a rooftop entertainment/amenity space that is highly tial uses. The zoning allows the property to be developed to maximize Floor Area Ratio sought out by users. (FAR) within the CBD and within close proximity of multiple parking garages to meet demand. REDEVELOPMENT DIMINISHING COMPETITIVE SET The property is a prime redevelopment opportunity located along the light rail allowing for hotel, office, or residential uses. Being located amongst recently completed luxury Since 2007, over one million square feet of previously competitive office space has been apartment buildings and the new XCEL Headquarters creates a prime redevelopment converted to apartment or hotel space. location. There is limited supply of new condo projects creating great demand from • 317 2nd Ave S: (2017) 71,500 square foot office building conversion to hotel buyers pushing up pricing. • Plymouth Building: (2016)) 259,000 square foot office conversion to Embassy Suites MINNEAPOLIS CENTRAL BUSINESS DISTRICT (CBD) • Soo Line: (2012-2013) 267,000 square foot office conversion to Multi Family • 730 Hennepin: (2013) 72,000 square foot office conversion to Multi Family The 25-33 Buildings are located in the Minneapolis CBD, the region’s largest and most • 401 S 2nd Avenue: (2007) 179,000 square foot office conversion to Hotel vibrant submarket. Since the mid-1990s, Minneapolis has been designated as one of the Minneapolis few 24-hour CBDs by several leading institutions. The dynamics that make it a 24-hour • Foshay Tower: (2007-2008) 162,000 square foot office conversion to W Hotel city have only improved since that time. The Minneapolis CBD has evolved over recent • 520 Marquette: (2006-2007) 153,000 square foot office conversion to Westin years with the 2.9 million square foot Target Corporate CBD campus, 1.0 million square Hotel foot Ameriprise Financial Center, US Bank Headquarters, 1.0 million square feet Wells Fargo regional consolidation, Whole Foods and a two-story urban Target retail store. EPICENTER OF RESIDENTIAL CBD BUILDING BOOM Downtown Minneapolis is home to over 43,000 residents and a workforce of more than 165,000, according to the U.S. census results analyzed by the Minneapolis Reflecting current and future needs of the urban center of more than 38,000 residents Community Planning and Economic Development Department. The downtown and aligning with the city’s vision to expand the downtown population to 70,000 by residential population has grown by over 10,000 people in the last ten years, and 4,700 2025. The Minneapolis CBD is in the midst of a residential boom and at 5th Street and housing units were added to the downtown area with plans to add an additional 15,000 Hennepin Avenue; The 25-33 Buildings are located in the epicenter of the CBD units over the next 15 years. development and redevelopment action. Nearby projects include Opus’ Nic on Fifth and 365 Nicollet, 26 and 30-story luxury high-rise apartment buildings respectively; The downtown continues to build upon its strengths including easy access for Interstates Mortenson’s 4Marq, a 30-Story upscale apartment tower; and Village Green’s SOO Line 35W and 94, ample parking, and a vibrant restaurant and entertainment district along Building City Apartments, a 12-story office conversion to a 254-unit luxury apartment the Nicollet Pedestrian Mall, just one block from the 25-33 Buildings. The 2 year old $1.1 complex offering amenities and services unlike any other currently in Minneapolis. These billion US Bank stadium is blocks from the property as is the recently upgraded Target projects are transforming the north end of Nicollet Mall and will help shape the culture of Center. The CBD is compact, easy to navigate, and has excellent transportation the Minneapolis central business district. infrastructure. Buildings on 80 city blocks are connected by eight miles of skyways, eliminating the need for workers and visitors to go outside during inclement weather. EXCEPTIONALLY CENTERED IN A “TRANSIT ORIENTED” Filled with shops, restaurants, and other service providers, the downtown skyway system LOCATION is the largest skyway system in the world. In addition to the many buses serving downtown, the Nicollet Mall Light Rail station, serving the Green/Blue Line, runs directly The Nicollet Mall Station and Warehouse District/Hennepin Ave Station for the METRO in front of the 25-33 Buildings, connecting downtown to the , University of Minnesota, St Blue Line (Hiawatha Light Rail Transit Line) are less than one block from the 25-33 Paul CBD, Minneapolis-St. Paul International Airport and the Mall of America. Buildings, connecting downtown to the Minneapolis/St. Paul International Airport and Mall of America, as well as to the Northstar Commuter Rail currently serving the north- west suburbs. The Green Line will expand service to include the University of Minnesota and Downtown St. Paul. Dozens of bus routes are timed to connect with trains at the Blue and Green line stations, including the Nicollet Mall Station.

5 DOWNTOWN MINNEAPOLIS 165,000 JOBS 30 MILLION SF OFFICE LORING PARK BLUE/GREEN LINE MINNEAPOLIS CONVENTION CENTER

US BANK STADIUM

DOWNTOWN EAST PARK

WELLS FARGO GUTHRIE THEATER 25-33 S 5TH ST

TARGET CENTER GOLD MEDAL PARK

TARGET FIELD

STONE ARCH BRIDGE

MISSISSIPPI RIVER NORTH LOOP

FEDERAL NICOLLET ISLAND RESERVE BANK

6 25-33 SOUTH 5TH STREET | MINNEAPOLIS, MN 55402

PID 22-029-24-44-0108 ACREAGE 0.32 PARCEL SQUARE FOOTAGE 13,939 EXISTING BUILDING SQUARE FOOTAGE 38,673 YEAR BUILT 1947 ZONING B4-2 Downtown Business District OVERLAY DISTRICT Downtown Parking

MINNEAPOLIS NEIGHBORHOOD Central Business District

USE Office (Currently vacant) FUTURE LAND USE Commercial

This building can be connected via the 15 building providing POTENTIAL SKYWAY CONNECTIONS connection by skyway to Fifty South Sixth, the Plymouth Building, and the Lumber Exchange/Edison Building.

2018 PROPOSED PROPERTY TAXES $73,229.85 Survey, floor plans, building operating costs, renderings, title DUE DILIGENCE AVAILABLE commitment PRICING Negotiable

7 CONSTRUCTION DETAIL MECHANICAL DETAIL

BUILDING FRAME HEATING AND COOLING

The building frame consists of a combination of steel framing, cast-in- Heating and cooling for the building consists of rooftop air place concrete framing with cast-in-place concrete composite floors conditioning units and variable air volume units with heating hot and concrete or steel framing at the roof areas. water re-heat coils. Steam from 15 South 5th Street is supplied to two heat exchangers located in the basement of 33 South 5th Street. BETWEEN FLOORS ELECTRICAL The lower basement slab is a cast-in-place concrete structure. The upper floors are concrete composite floor slabs with some wood The subject building is served by two main feeds of approximately elements observed. 800 amp, 120/208 volt, three phase, fourwire service each.

ROOF FRAMING ELEVATORS Concrete beams and steel beams support roof decking. The property has one passenger traction elevator. The passenger elevator was manufactured by Westinghouse and has a capacity of EXTERIOR WALLS 3,500 pounds.

The exterior walls consist of stone panels at the front facades with SPRINKLERS natural brick masonry, painted brick masonry, painted concrete masonry and pre-finished aluminum entry and accent elements. Fire sprinklered with a wet-pipe system.

ROOFING SYSTEM

The roofing system is a low-slope roof covered with two different systems. The 25 Building has a multi-ply built-up roofing system topped with a flood coat and aggregate. The 33 Building has a sprayed polyurethane foam roof.

DOORS/WINDOWS

The entrance doors consist of glass in aluminum frames. Emergency doors and employee areas doors are steel in steel frames. The windows are a mix of fixed and operable metal windows. Upper floor rear and side windows are painted steel with single-pane glazing.

8 LARGEST EMPLOYERS INVESTMENT DOWNTOWN HIGHLIGHTS COMPANY EMPLOYEES

Target Corp. (NYSE: TGT) 8,333 Minneapolis CBD Location

Hennepin County Medical Center 7,105

Wells Fargo 7,000 Strong market conditions

Hennepin County 6,595

Ameriprise Financial (NYSE: AMP) 4,893 Direct access to Light Rail

U.S. Bancorp (NYSE: USB) 4,651 Potential reuse or Xcel Energy (NASDAQ: XEL) 2,351 redevelopment for hotel, City of Minneapolis 2,060 office, residential

RBC Wealth Management 1,475 Immediate skyway access Thrivent Financial 1,352 via the 15 Building

Capella Education 1,258

Star Tribune Co 1,096

SPS Commerce (NASDAQ: SPSC) 1,002

Federal Reseve Bank 970

9 PROPERTY DIMENSIONS

88.0 FT 140.7 FT 157.6 FT 157.6

43.2 FT 44.9 FT

10 NEIGHBORHOOD INFORMATION NEIGHBORHOOD MAP

WAREHOUSE RAMP B P DISTRICT MARQUETTE WASHINGTON AVE (30,100FEDERAL VPD) PLAZA MINNEAPOLIS OFFICE BLDG CENTRAL LIBRARY THE UNDER CROSSINGS BUTLER HENNEPIN AVE (23,000 VPD) CONSTRUCTION: SQUARE NICOLLETOPUS MALL 30-STORY LUXURY LUMBER APARTMENT BUILDING EXCHANGE XCEL 1ST AVE (23,000 VPD) P ENERGY FAMILY COWLES P JUSTICE 3RD ST (16,700 VPD) CENTER P CENTER P

RENAISSANCE 4TH ST (13,5002ND AVE (10,300 VPD) VPD) BLOCK E P SQUARE P MARQUETTE AVE (13,000 VPD) FIRST P AVENUE 5TH ST FEDERAL P SITE TOWERS COURTHOUSE PANTAGES 50 S 6TH ST GAVIIDAE THEATER CITY COMMON CENTER 5TH ST (3,200 VPD)

P 3RD AVE (13,500 VPD) CITY MARQUETTE HALL RADISSON HOTEL PLAZA US BANK HOTEL PLAZA 4TH AVE (12,400) 6TH ST (10,000 VPD)

OLD GRAND LASALLE MACY’S HOTEL PLAZA BUILDING

LIGHT RAIL STOP P PARKING LIGHT RAIL

12 NEW DEVELOPMENT MAP 100 HENNEPIN 1 159 UNIT APARTMENT AND TOWNHOME BUILDING 3,000 SF RETAIL 1 MISSISSIPPI RIVER PROPOSED MIXED-USE 2 DEVELOPMENT

3 365 NICOLLET 30-STORY 370 UNIT LUXURY APARTMENT BUILDING WITH P 2 10,000 SF RETAIL SITE 4 700 NICOLLET MALL CONVERSION OF FORMER 9 1.2 MSF MACY’S INTO RETAIL AND OFFICE 3 5 PORTLAND TOWER 740 PORTLAND AVE P 17 STORIES/112 CONDOS

KRAUS ANDERSON BLOCK 6 100,000 SF NEW HQ THE ELLIOT, 8-STORY MARRIOTT P AUTOGRAPH COLLECTION S 5TH ST 8 17 STORY APARTMENT BUILDING P 4 10 625 4TH ST- 600 STALL PARKING HENNEPINP AVE 7 11 7 RAMP WRAPPED WITH 55 S 7TH ST APARTMENT UNITS AND 4500 P SF OF RETAIL P

DOWNTOWN EAST 8 1 MSF WELLS FARGO OFFICE 200 LUXURY APARTMENTS S 9TH ST 1300 STALL PARKING RAMP 164 ROOM RADISSON RED HOTEL P S 12TH ST MILL CITY 5 9 428 S 2ND ST 150-SENIOR HOUSING UNITS P 6 151 AFFORDABLE HOUSING UNITS 12,000 SF OF RETAIL

811 WASHINGTON AVE 10 8 STORY, 139 ROOM MARRIOTT MOXY, 14 STORY-172 UNIT APARTMENT BUILDING

LEGACY LOFTS 11 374 UNIT CONDO BUILDING

LIGHT RAIL LIGHT RAIL STATION P PARKING NEIGHBORHOOD AMENITIES

14 OFFICE OVERVIEW OFFICE MARKET OVERVIEW TWIN CITIES Office activity remains strong in Minneapolis with over 333,000 square feet of positive absorption occurring in the 4th quarter for the CBD and North Loop submarkets. The urban migration phenomenon continues to happen as tenants are looking to provide the “live/work/play” atmosphere for their employees that the Minneapolis CBD and North Loop have to offer. Within the CBD and North Loop, there are only a few options for office users looking for space in excess of 30,000 SF, so these properties are uniquely positioned to offer a well-located, creative office space solution. Properties that can differentiate themselves from the market with amenities like a roof-top deck will also been viewed favorably by the users in the marketplace.

Gross lease rates at all-time highs and interest rates are still low. As such, many tenants are looking for owner/occupant solutions to help control their overhead. There are very few of these “For Sale” opportunities currently for 30,000 SF prospects. As such, the 25-33 Buildings are well positioned to take advantage of the owner/occupant buyers in the marketplace.

MINNEAPOLIS CBD VACANCY BY CLASS

35.0%

30.0%

25.0%

20.0%

15.0%

10.0%

5.0%

0.0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Class A 11.5% 16.1% 14.5% 12.1% 11.7% 12.5% 11.9% 13.2% 12.8% 13.3% Class B 14.3% 21.5% 22.8% 27.7% 26.2% 25.0% 21.5% 18.4% 32.4% 29.6% Class C 14.4% 19.4% 24.3% 24.6% 24.0% 11.7% 11.5% 17.3% 16.0% 19.0% HISTORICAL MINNEAPOLIS CBD NET ASKING RATES $20.00

$17.50

$15.00

$12.50

$10.00

$7.50

$5.00

$2.50

$0.00 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Class A $13.18 $12.90 $13.01 $13.33 $13.70 $15.27 $16.63 $17.20 $17.69 $18.10

Class B $9.99 $10.03 $9.97 $10.29 $10.22 $11.04 $12.28 $12.33 $12.36 $13.17

Class C $9.70 $9.75 $9.60 $9.85 $9.69 $10.68 $11.03 $11.60 $13.07 $13.27

HISTORICAL MINNEAPOLIS CBD GROSS RATES

$35.00

$30.00

$25.00

$20.00

$15.00

$10.00

$5.00 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 YTD

Class A $24.54 $25.31 $24.72 $25.54 $26.02 $27.07 $28.66 $30.46 $31.62 $32.26 Class B $19.70 $20.40 $20.33 $20.40 $20.58 $20.96 $22.33 $23.08 $23.21 $24.05 Class C $18.69 $17.89 $17.68 $17.90 $18.30 $19.21 $19.71 $20.17 $22.03 $22.41

17 DEVELOPMENT PARTNERS

ARCHITECTS

Scott Hierligner David Serrano Deb Barnes

GENERAL CONTRACTORS

Tom Hochstaetter Chuck Bainey Bob Gardner

18 MINNEAPOLIS SKYWAY MAP

LUMBER EXCHANGE SITE

THE 15 BUILDING

EMBASSY SUITES/ PLYMOUTH 50 SOUTH SIXTH BUILDING

19 OFFICE RENDERING

20 INTERIOR OFFICE CONCEPT OPTIONS

OFFICE

21 INTERIOR OFFICE CONCEPT OPTIONS

OFFICE

22 INTERIOR OFFICE CONCEPT OPTIONS

LOBBY

23 RESIDENTIAL OVERVIEW MULTIFAMILY MARKET APARTMENT OVERVIEW

VACANCY MARKET RENTS The Twin Cities Metro Area vacancy rate decreased The overall average market rent, at $1,155 for 2017 Q4, slightly to 2.4% in 2017 Q4, down from 2.5% 2017 Q3 was up 3.2% for the quarter. Annualized rent growth and from 2.7% one year ago. Accounting for all new over the past twelve months was +5.4%. This growth properties still in lease-up, in addition to stabilized rate reflects rent increases at existing properties, as assets, the adjusted vacancy rate for 2017 Q4 was well as the opening of several new Class “A” apartment slightly higher, at 3.1%. This is up from 3.0% in 2017 Q3 assets in the market over the past several months. and 3.2% one year ago.

METRO AREA SUPPLY & DEMAND Operations continue to be very strong in MSP with overall forecasted vacancy below 3% and forecasted Through 2017, absorption continues to track ahead of rent growing 4%+. new supply. 2017 absorption was estimated at 3,465 units, compared to 2,621 new unit deliveries through 2017 Q4.

Source: Apartment Trends by Marquette Advisors, 4Q2017

METRO AREA RENT MINNEAPOLIS CBD +5.4% GROWTH (2017) 2.9% VACANCY (2017 Q4) OVER PAST TWELVE MONTHS

25 TWIN CITIES METRO AREA Q3 2017 AVERAGE RENT, VACANCY AND CAP RATE 7.50% 7.30% 10% $1,200 6.85% 6.50% 6.00% 6.00% 5.94% 8% $1,000 5.50% 5.50% 5.76% 5.25% 5.25% 5.25% 4.91% $800 4.65% 4.50% 4.50% 4.50% 6%

$600 4% RENT $400 2%

$200 VACANCY / CAP RATE / CAP VACANCY 0% $0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Average Rent Cap Rates Vacancy Average Cap Rates

Sources: CBRE Minneapolis (cap rate), Apartment Trends by Marquette Advisors, Q3 2017

35,000 jobs added year to date LOWEST VACANCY RATE among all 62 markets tracked by CBRE EA.

3.0% +/- Forecasted rent growth across Minneapolis market

-0.4% Year-over-year vacancy declines: Minneapolis

Source: CBRE Research, U.S. Census Bureau, Q3 2017. Data as of August 2017, 26 not seasonally adjusted. MULTIFAMILY MARKET APARTMENTS

SITE

CLASS A APARTMENT BUILDING

27 APARTMENT RENDERINGS HOTEL OVERVIEW HOTELS MAP

30 HOTEL RENDERINGS

31 ADDITIONAL PROPERTY INFORMATION Your Proposed Property Tax

PROPERTYTAXES SOUTH STREET PROP MANAGE LLC ATTN MARC GARRISON 770 N HALSTED ST #101 CHICAGO IL 60642-8407

THIS IS NOT A BILL - DO NOT PAY Property ID NO: 22-029-24 44 0108 33 5TH ST S Property taxes statement schedule Value & classification TAX YEAR PAYABLE 2017 2018 CLASS: COM PREFERRED COM NON PREFERRED

Estimate Market Value: $1,820,000.00 $1,925,000.00 Homestead Exclusion: Other Exclusion/Deferral: Taxable Market Value: $1,820,000.00 $1,925,000.00

Proposed levies & taxes 2017 TAX $69,492.55 2018 PROPOSED $73,229.85 Percent change 5.4% Now is the time to provide feedback on proposed levies. It is too late to appeal your value or classification without going to Tax Court.

Property tax statement Coming March 2018, due May 15, 2018 and October 15, 2018

Addresses for correspondence Actual 2017 Proposed 2018 Meeting date & location Hennepin County $11,298.98 $11,853.69 Nov 28, 2017 6:00 PM A2400 Government Center Commissioner Board Room Minneapolis MN 55487 A2400 Government Center 612-348-3011 Minneapolis MN 55487

City of MINNEAPOLIS Nov 29, 2017 6:05 PM Park Board: $2,973.61 $3,042.26 Room 317 City Hall Your ProposedRemainder Property Tax of City Tax: $12,461.01 $12,954.99 Budget Director 350 5th Street S

Room 325M City Hall Minneapolis MN 55415 Minneapolis MN 55415 https://www16.co.hennepin.mn.us/pins/truthintaxation.jsp?pid=2202924440108[1/10/2018311 9:59:19 PM]

STATE GENERAL TAX $16,328.41 $17,325.00 No meeting required

School District 001 Dec 12, 2017 6:00 PM Voter Approved Levy: $2,396.57 $2,112.88 Davis Center Board Room Other Local Levies: $5,929.21 $6,714.30 1250 West Broadway School District Total: $8,325.78 $8,827.18 Minneapolis MN 55411 Finance Department 1250 West Broadway Minneapolis MN 55411 612-668-0000 Metropolitan Council $694.41 $704.16 Dec 13, 2017 6:00 PM 390 Robert Street North Council Chambers St Paul MN 55101-1805 390 Robert Street North 651-602-1738 St Paul MN 55101-1805 Other Special Taxing Dist: $853.95 $855.81 No meeting required Fiscal Disparity Tax: $16,556.40 $17,666.76 No meeting required Tax Increment Tax: No meeting required TAX EXCLUDING33 SPECIAL ASSESSMENTS $69,492.55 $73,229.85

Check out the convenient payment options available to pay NEXT YEAR´s property taxes at http://www.hennepin.us/propertytaxpayments or call 612 348-3011 Click for detailed information on this property

Learn about property taxes: www.hennepin.us/propertytaxes THIS IS NOT A BILL - DO NOT PAY

https://www16.co.hennepin.mn.us/pins/truthintaxation.jsp?pid=2202924440108[1/10/2018 9:59:19 PM] ZONING MAP

SITE

34 M

i s s i s s ip p i OVERLAY R ZONING DISTRICTS iv e r

416 405 400 408 335 401 326 306 129 336 331 402 335 320 311 317 327 408 1251 314 501 400 333 328 323 312 1200 316 IL 324 2ND ST315 NE 306 302 308 430 400 322 1 307 800 3RD300 AVE NE 213 730 312 301 328 MAIN 301ST NE 306 201 201 201 304 730 1001 750 164 200 900 216 277 700 137 724 516 828 722 133 518

514 100 901 520 132 149 716 522 512 137 200 524 123 16 923 608 510 163 1000 506 18 27 315 606 504 702 106 115 167 915 502 25 604 RIVER ST500 702 713 602 171 420 201 700 523 107 918 800 521 418 167 10TH AVE N240 99 1001 600 416 171 620 527 15 515 513 511 414 400 183 221 177 181 701 412 MAPLE NICOLLETPL ST 221 900 801 97 1ST ST614 N 500 509 210 709 410 105 11 901 705 675 606 ISLAND AVE E 150 221 314 408 101 801 501 102 602 425 406 84 195 423 95 427 21 901 9TH AVE N 715 404 680 421 1 100 730 660 402 24 800 433 402 224 417 24 71 303 101 24 757 413 400 1 645 24 901 718 615 428 50 325 ISLAND AVE W 701 418 207 753 407 24 575 405 1 201 100 900 1 24 3RD ST N TO WB I94 20 217 24 760 600 401 315 220 700 1 729 13 110 3RD ST748 N 20 201 207 13 45 53 ( 580 560 5 625 29 408 301 17 618 515 728 545 49 2 701 9 20 250 33 10 824 747 606 400 21 100 2 208 730 722 4TH AVE N 53 61 600 25 37 228 500 PO 816 501 25 116 246 57 324 41 730 1 814 607 100 528 MR 3 300 707 111 800 720 506 96 809 30 608 15 500 300 805 701 525 24 6 MAIN ST SE EB I94 TO 4TH S 401 224 EASTMAN AVE 710 615 322 7TH AVE N 515 424 706 4TH ST N 105 42 530 100 49 95 704 300 318 212 DH OVERLAY ZONING 501 719 514 310 227 1ST AVE NE 110 700 404 47 DISTRICTS213 206 314 116 124 107 221 200 90 10 425 500 620 6TH AVE N 400 215 Missi 525 ( 701 14 93 9 30 326 127 419 200 224 100 345 120 505 212 MERRIAM ST 616 16 T N 405 H AVE N 210 104 ssippi River 7TH AVE 643N 414 125 560 600 525 300 223 71 5T 200 121 WASHINGTON217 AVE N 401 219 96 315 20 128 100 508 601 333 307 218 333 214 212 301 116 Overlay Zoning Districts 128 329 216 120 524 GARAGE C EXIT 214 206 123 101 WEST RIVER PKW 419 250 200 409 119 25 100 215 126 Airport 328 103 1 207 118 100 420 201 7TH ST N 116 318 408 254 208 106

408 405 125 100 419 100 Downtown Housing525 200 121

245 222 405 400 109 1 1 318 206 410 114 405 3RD AVE N 101 414 244 15 UA 248 Y Downtown Height 425 5TH ST N 108 252 2ND123 AVE N 106 241 300 3RD ST N 17 128 300 24 321 306

Downtown Parking 4TH ST118 N 314 240 20 IL 18 115 330 322 661 25 258 409 1 21 100 119 311 1ST ST S 5 417 17 Downtown Shelter IL 1 BUS EXIT 30 420 323 WASHINGTON100 AVE S 401 400 101 20 110 516 16 314 300 250 416 401 401 Harmon Area 25 212 201 415 1 19 117 1 400 300 105 26 245 428 1 WAY 116 111 1ST AVE22 N 1 101 16 412 416 121 10 Industrial Living 517 10 518 103 101 401 TWINS 424 315 3RD ST S 512 150 N TO WB I394 6TH ST N 300 515 70 105 255 28 417 Linden Hills TERSTATEGARAGE 394 B EXIT 14 2 92 600 20 SITE 16 110 105 IN 414 NICOLLET MALL 501 117 101 101 508 301 108 401 3RD AVE 247 600 535 1 524 330 701 251 106 509 47 120 415 309 300 104 400 708 Nicollet Mall 423 318 15 312 700 217 500 427 12 33 225 601 317 320 409 15 500 328 331

24 426 250 111

101 117 53 706 400 B4H 115 3RD AVE S 750 North Phillips 730 400 200 50 501 101 100 1308 1206

9TH ST N ST 9TH

701 300 310 1010 501

1000 401 73 150 4TH ST S 240 205 8TH ST N 710 600 301 711 219 500 722 416 Pedestrian Oriented 101 5TH ST S 607 224

701 88 1025 1001 200

730 705 1201

1011 30 418 1015 240 200 1019 517 530 29 400 201

62 19 1212 DP 711 MARQUETTE AVE 401 614 800 601 527 120 212 715 Transitional Parking 806 800 233 1220 1200 315 731 17 814 500 250 41 4TH AVE S 713

10TH ST N ST 10TH 45 824 629 90 B4H 523 12TH ST N 830 700 19 8TH ST S 601 1216 401 301 708 University Area 910 825 26 608 627 ORNE AVE900 809 901 811 700 724 41 329 68 247 36 800 625 5TH AVE S 1021 928 300 730 710 628 701 1100 16 501 521 800 HAWTH 618 1025 618 201 713 West Broadway 901 814 701 907 350 719 822 1014 47 615 909 30 811 109 501 700 520 1103 625 416 716 1022 15 1 811 216 415 706 728 900 1123 801 425 50 717 CHICAGO AVE Shoreland 910 800 6TH ST S 300 300 318 1205 1100 1213 1001 10 815 81 730 83 707 500 309 1225 87 701 6 1 101 825 823 Floodplain 1111 1020 717 5TH ST S 1115 801 1216 LASALLE AVE 625 1317 1121 1026 900 818 1127 220 619 701 501 424 1201 1112 NM 901 825 1207 529 120 517 1322 1306 333 Mississippi River Critical Area 1128 1100 1012 1012 917 600 900 610 1227 9TH ST S 805 1213 925 701 500 819 11 530 1206 N PL 512 1000 88 1214 84 901 825 528 1021 94 404 401 1107 921 900 222 427 8 600 1309 68 HA HARMO 1001 501 81 921 1013 321 PARK AVE 44 901 1213 933 521 IL 65 87 1000 207 1221 120 1201 213 727 1324 217 405 919 510 716 1401 900 1212 1016 1128 71 1017 516 24 601 601 73 200 619 918 615 1315 66 1102 815 800 18 1001 216 815

( 714 1230 501 32 230 507 610 1130 729 827 1403 1301 515 7TH ST S 1001 610 1100 901 523 620 810 1235 1101 811 1201 905 1200 626 45 502 701 1303 220 409 701 616 1400 419 518 50 11TH ST S 813 906 35 400 817 1111 410 709 1331 1225 410 1235 416 903 626 600 725 1117 816 801 601 1200 1001 519 608 1228 917 800 1401 201 614 YALE PL B4H 1010 116 215 601 622 811 715 1421 500 601 1221 721 12TH ST S 225 910 821 609 1234 2 13TH ST S 1201 829 700 B4H 516 706 1200 929 601 10TH AVE S 28 1300 1226 617 228 816 914 625 914 707 513 929 701 825 1100

812 620 1219 117 1106 905 CHICAGO AVE 110 1101 715 1313 620 911 210 900 1314 915 1015 11TH AVE S 1346 524 724 14 1333 10TH ST S 1301 826 500 1005 908 1101 14 1101 901 1111 708 918 609 1011 1121 615 920

619 9TH AVE S

GRANT ST W GRANT ST E 1000 718 1025 900 1100 1104 315 1110 614 823

125 121

101 117 115 15 101 1301 505 1304 800 1118 1307 624 810 910 B4H 310 1325 1367 1365 1362 1308 1300 1350 333 640 812 1130 1314 1009 711 608 1355 1317 1321 719 Loring Lake 1317 1315 609 716 725 1368 1105 1401 715 14TH ST W 1402 1401 1400 727 14TH ST E 1401 1405 1400 601 1401

15 1400

709 739 21 719

1407 625 731 737

501 507 1301 1400 1400 1401 1401 1411 1412 627 1400 1413 825 1007 1401

1400 1409 1412 1415 1412 1413 622 WILLOW ST WILLOW 1408 1416

720 724

712

10 606 610 614

500 508

1425 734 1413 916 1421 1414 S AVE 4TH 1421 1409 1417 300 314 1420B4H 1425 1212

1424 PO 214

18 12 HIGHWAY 65 15TH ST E 1500 1425 1500 15TH ST E 1424 1430 1501 1500 1500 1501

731 901 907 911

809 727 807

629 801 623 1504

619 609 1501 607 1501 1510 1501 501 1513 15TH ST W 1509 1508 328 1508 B4H1509 1508 1509 1508 1509 13 122 1512 132 1515 1215 303 233 115 628 1513 1514

1500 19 1515 15 1512

219 209 205 201 225 223 1500 632 1515 620 622 728 1519 612 1501 (20 Overlay Districts

Airport Harmon Area North Phillips West Broadway

Downtown Housing Industrial Living Pedestrian Oriented Shoreland Wetland Plate Boundaries

Downtown Height Linden Hills Transitional Parking Floodplain 0 250 500 1,000 1,500 (12 ADJOINING PLATE NUMBER Downtown Parking Nicollet Mall University Area Mississippi River Critical Area º Feet Downtown Shelter Last Amended : July 22, 2011 MINNEAPOLIS ZONING PLATE 19 ZONING LANGUAGE

549.380. - PURPOSE.

The B4 Downtown Business District is established to provide an environment for retail and office activities of citywide and regional significance. The district also allows entertainment, residential and public uses which complete the mixed use character of the area. The B4 District allows the highest density office development within the downtown area.

PERMITTED USES.

• General retail sales and services • Market garden • Antiques and collectibles store • Motorized scooter sales • Art gallery • Neighborhood electric vehicle sales • Art studio • Office supplies sales and service • Bank or financial institution • Performing, visual or martial arts school • Bookstore, new or used • Pet store • Child care center • Photocopying • Consignment clothing store • Shopping center • Farmers’ market • Tobacco shop • Grocery store • Veterinary clinic • Laundry, self service • Video store

CLICK FOR COMPLETE ZONING CODE. 36 FUTURE LAND USE MAP

SITE

37 DEMOGRAPHICS DEMOGRAPHICS SUMMARY

2017 Average 2017 population 2017 housing units household income 1 mile radius 1 mile radius 1 mile radius 30,334 20,346 $90,901

2017 employees 2017 businesses 1 mile radius 1 mile radius

170,127 5,558

39 DEMOGRAPHICSDEMOGRAPHIC BRIEF 25 S 5TH ST BRIEF

POPULATION 1 MILE 3 MILES 5 MILES

2017 Population - Current Year Estimate 30,334 244,763 469,810 2022 Population - Five Year Projection 32,753 259,402 494,322 2010 Population - Census 26,479 220,847 432,136 2000 Population - Census 20,623 217,472 430,091

2010-2017 Annual Population Growth Rate 1.89% 1.43% 1.16% 2017-2022 Annual Population Growth Rate 1.55% 1.17% 1.02%

HOUSEHOLDS

2017 Households - Current Year Estimate 17,969 104,849 201,477 2022 Households - Five Year Projection 19,462 111,194 211,899 2010 Households - Census 15,636 94,707 185,802 2000 Households - Census 11,913 91,294 182,661

2010-2017 Annual Household Growth Rate 1.94% 1.41% 1.12% 2017-2022 Annual Household Growth Rate 1.61% 1.18% 1.01%

2017 Average Household Size 1.46 2.18 2.22

HOUSEHOLD INCOME

2017 Average Household Income $90,901 $66,404 $79,121 2022 Average Household Income $108,776 $76,874 $90,030 2017 Median Household Income $55,619 $39,949 $52,763 2022 Median Household Income $68,417 $44,105 $57,998 2017 Per Capita Income $56,242 $29,397 $34,572 2022 Per Capita Income $66,930 $33,868 $39,197

HOUSING UNITS

2017 Housing Units 2 0 , 3 4 6 1 1 5 , 3 5 6 2 1 8 , 4 4 7 2017 Vacant Housing Units 2,377 11.7% 10,507 9.1% 16,970 7.8% 2017 Occupied Housing Units 17,969 88.3% 104,848 90.9% 201,476 92.2% 2017 Owner Occupied Housing Units 5,098 25.1% 30,460 26.4% 94,508 43.3% 2017 Renter Occupied Housing Units 12,871 63.3% 74,388 64.5% 106,968 49.0%

EDUCATION

2017 Population 25 and Over 2 3 , 6 6 8 1 5 1 , 5 6 3 3 0 9 , 7 2 5 HS and Associates Degrees 7,645 32.3% 61,317 40.5% 125,507 40.5% Bachelor's Degree or Higher 14,146 59.8% 68,413 45.1% 153,168 49.5%

PLACE OF WORK

2017 Businesses 5,558 13,691 22,191 2017 Employees 170,127 343,681 480,067

40 ©2018 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Source: Esri Page 1 ProjectID:282218 MEDIAN HOME VALUE

41 AVERAGE HOUSEHOLD INCOME

42 MEDIAN AGE

43 MARKET OVERVIEW

44 THE TWIN CITIES WORK FORCE QUALITY AND EDUCATION Minneapolis/Saint Paul, collectively referred to as the Twin Cities and Minneapolis/ Saint Paul has one of the highest graduation rates in the country: home to the state capitol (Saint Paul), the major state university (University of Minnesota Twin Cities) and the Ninth District Federal Reserve (Minneapolis), is the nation’s 16th largest MSA with approximately TH 3.3 million residents in a 13-county area. 39.3% 4 93% People 25 and older Most educated among Earned a high with a bachelor’s the 25 largest metro school degree degree or higher statistical areas. 2.9% 10.5% (Twin Cities) Best Cities for Recent Twin Cities MSA growth between Best Cities for Millennials College Graduates unemployment rate TH and Gen Z Workers TH 2000 and 2010 8 (Minneapolis/St. Paul) (As of Dec. 2017) (Minneapolis/St. Paul) 5 Source: U.S. Census Bureau. Source: Forbes, 2016 Source: Nerdwallet, 2016

35% #6 Best State Overall* Projected increase in Highest median RD Minneapolis/St. Paul household income 3 Source: US News, 2017 population between $71,593 in the nation *Ranked in Healthcare, Education, Crime and Corrections, Infrastructure, 2010 and 2040 Opportunity, Econonmy, Government Source: 25 Most Popular Metros, U.S. Census Bureau, 2016

JOBS ADDED IN THE #1 #3 TWIN CITIES IN THE PAST 12 Best States for Labor Best State Overall 35,000 MONTHS (TO SEPTEMBER 2017) Force Participation Sources: Minnesota Department of Employment and Economic Development Source: US News, 2017 Source: US News, 2017

$ MINNEAPOLIS WAS ALSO 510B NAMED OF 2016 Revenue of 1 10 Minnesota’s 18 Fortune “Knowledge Centers” by the U.S. Census 500 Companies Bureau due to a deep pool of highly educated workers. CORPORATE ACTIVITY MINNESOTA MEDICAL TECHNOLOGY 18 Fortune 500 public companies are headquartered in Minnesota. Minnesota is a pioneer in medical technology starting in the 1940s. Companies like Target, Best Buy, General Mills and Ameriprise The largest medical device manufacturing firms headquarters or Financial are part of the diverse powerhouse of the state’s business major operations in Minnesota are: base. There are eight Minnesota companies on the Forbes Nation’s largest Private Companies list, including the overall number one spot • Medtronic • Greatbatch Medical held by Wayzata-based Cargill. For the fourth year in a row, the Twin Cities region stayed near the top of MarketWatch’s List of Best Metro • Boston Scientific Corp. • Coloplast Corp. Areas for Business, based on results from a variety of sources. • St. Jude Medical • Cardiovascular Systems, Inc. Fortune named three Minnesota businesses among “America’s Most Admired Companies” in 2017 with Target, 3M, and St. Jude Medical • Starkey Hearing Technology • Smith’s Medical ASD, Inc. in the Top 50. • 3M Healthcare • Vascular Solutions, Inc. • Minnesota’s General Mills is among the World’s Most Innovative Companies (Forbes, 2017)

• Minnesota ranked #1 Top State for Business (CNBC, 2015)

• Minneapolis is the 7th Best City for Job Seekers (Nerdwallet, ST ND TH 2016) 1 2 4

• Minneapolis is 2nd Best City for Young Professionals (Smart Asset, 2017)

Number of medical Bioscience related Number of bioscience device patents per patents per capita in patents from 2011 to 2015* capita in nation* nation (2015)* (2015)* THE TWIN CITIES IS HOME TO 18 FORTUNE 500 COMPANIES, THE STATE CAPITOL, A MAJOR UNIVERSITY, AND FIVE MAJOR SPORTS FRANCHISES - THE ONLY METRO MINNESOTA IS AREA IN THE NATION WITH THAT DISTINCTION. THE FASTEST GROWING STATE FOR TECH JOBS 46 RECREATION Minneapolis/Saint Paul is a progressive destination with a dynamic vibe and a whirlwind of creative energy. Public art, a lively music and arts scene, and stunning architecture are some of the reasons that Minneapolis has been named by MSN Travel as one of the 15 Coolest North American Cities—where to go for an urban getaway.

# NATIONS BEST PARK SYSTEM 1 Source: The Trust for Public Land’s 2014 ParkScore® Index Major attractions in the Minneapolis/Saint Paul metro area include:

TARGET FIELD remodeled Walker Art Center and the The new home for the Minnesota Twins giant Minneapolis Institute of the Arts. In opened in 2010. This 39,504-seat open-air addition, the metro area has seven history ballpark in downtown Minneapolis includes museums and the Science Museum of a Minnesota Baseball Hall of Fame and Minnesota. Museum, a retail store, a baseball-themed PARKS sports bar and restaurant, an interactive The Twin Cities area’s nationally renowned area for kids and additional venues for system of regional parks contributes group ticket buyers. significantly to the high quality of life. The TARGET CENTER regional parks system includes 49 regional Located in the heart of downtown parks and park reserves, 29 trails and six Minneapolis’ vibrant sports and special recreation areas. entertainment district, Target Center MALL OF AMERICA is proud home to the NBA’s Minnesota Since opening its doors in 1992, the Mall Timberwolves, three-time WNBA world of America (MOA) has become one of champion, Minnesota Lynx. Over 1 million the top tourist destinations in the country. guests visit the arena every year - making Boasting over 520 stores, the MOA attracts Target Center one of the top arenas in the 40 million visitors annually. world. US BANK STADIUM XCEL ENERGY CENTER - HOME TO The Minnesota Vikings unveiled a new $1.1 MINNESOTA WILD HOCKEY billion state of the art stadium in August The one-of-a-kind, multi-purpose facility 2016 in downtown Minneapolis. is home to more than 150 sporting and entertainment events and approximately MINNESOTA WILD 1.7 million visitors each year. Xcel Energy St. Paul CBD is the new home to the Center encompasses 650,000 square feet Minnesota Wild practice facility. The rink — with four separate concourses and four which will be used for Wild practices and seating levels plus a press level. for public ice time — will take up about 40,000 square feet on the roof of the five- MUSEUMS story building, which is now named the The Twin Cities boasts five major Wabasha Center. art museums including the newly- MARKET OVERVIEW & OUR EMPLOYMENT

18 FORTUNE 500 COMPANIES 2017 FORBES HEADQUARTERED IN MINNESOTA IN 2017 LARGEST PRIVATE COMPANIES NATIONAL REVENUE RANK COMPANY LOCATION RANK COMPANY EMPLOYEES LOCATION (BILLION)

6 United Health Group Minnetonka 1 Cargill Wayzata 109.7 150,000 38 Target Minneapolis 91 Carlson Companies Minnetonka 4.40 110,000 72 Best Buy Richfield 110 M.A. Mortenson Minneapolis 3.80 2,500 93 CHS Inver Grove Heights 130 Holiday Companies Bloomington 3.30 6,000 94 3M Saint Paul 145 Rosen’s Diversified Fairmont 3.20 4,000 125 U.S. Bancorp Minneapolis 154 Schwan Food Marshall 3.00 14,000 158 Supervalu Eden Prairie 179 Andersen Bayport 2.50 11,000 165 General Mills Minneapolis 218 Taylor Corporation Mankato 2.10 12,000 209 Land O’ Lakes Arden Hills Source: Fortune, Forbes (2016) 211 Ecolab Saint Paul 212 C.H. Robinson Eden Prairie 239 Ameriprise Financial Minneapolis 341,000 256 Xcel Energy Minneapolis 361,000 295 Hormel Foods Austin Professional and Business Services/ Financial Activities/Information 316 Thrivent Financial Minneapolis Trade, Transportation and Utilities

377 Mosaic Plymouth 5

0 Education and Health

434 St. Jude Medical St. Paul 8 Employees In Each

, 0

5

466 Patterson Cos. Inc. St. Paul 0 Industry 0 Government/Other Services

0 2 , Metro Area 3 Manufacturing/Mining/Construction 3 3 MORE FORTUNE 500 Leisure and Hospitality Employees COMPANIES PER CAPITA Source: MNDEED, August 2017 1 0 84 ,60 THAN ANY OTHER ,500 281 METRO REGION. Source: Greater MSP TRANSPORTATION INFRASTRUCTURE LIGHT RAIL TRANSIT (LRT)

METRO BLUE LINE (HIAWATHA)

The Blue Line is a 12-mile line connecting three of the Twin Cities’ most commuter rail line. Now one year old, the 11 mile light rail line popular destinations—downtown Minneapolis, Minneapolis/Saint Paul carries 1 million riders a month (33,333 riders per day average), International Airport and the Mall of America. Less than two years after and ridership is projected to reach 40,000 on weekdays by opening, the line had already exceeded its 2020 weekday ridership goal 2030. Developers have announced over $2.5 billion in new of 24,800; in 2014, ridership totaled 9.5 million. The total cost to design construction and development projects along the corridor since and construct the Blue Line was $715 million. engineering began.

GREEN LINE EXTENSION (SOUTHWEST LINE, PLANNED FOR 2021) The main Minneapolis-Saint Paul metropolitan area is encircled by the The Green Line extension plans to be in service by 2021 and will Interstate 694/494 loop which is bisected by Interstate 94/394 running service the southwestern Minneapolis suburbs from downtown East/West and Interstates 35W and 35E running North/South. Minneapolis to Eden Prairie. The complete line will run 15 miles The metropolitan area is served by the Minneapolis/Saint Paul through the popular first and second ring suburbs of St. Louis International Airport (MSP), which has been recognized as the third Best Park, Hopkins, Minnetonka, and Eden Prairie. Airport in the World among airports serving 25 to 40 million passengers a year. MSP has also ranked as the Best Airport in North America in that NORTHSTAR COMMUTER RAIL size category (Airports Council International’s Airport Service Quality Awards). The Northstar Commuter Rail Project provides commuter rail service along a 40-mile corridor from the Minneapolis CBD to Big Lake, running through the heart of the Interstate 94 corridor in the Northwest suburbs. The rail line has inter-modal connections to bus transit and to the existing Blue Line. Service began in GREEN LINE (CENTRAL CORRIDOR) November 2009. The $320 million cost of building the state’s first commuter rail line was shared by the state and federal The newly opened Green Line links five major centers of activity in the governments, the regional rail authorities for Anoka, Hennepin Twin Cities region—downtown Minneapolis, University of Minnesota, and Sherburne counties, the Metropolitan Council and the Midway area, state Capitol complex and downtown Saint Paul—that Minnesota Twins. In 2014 there were more than 721,000 riders contain almost 280,000 jobs. By 2030, this number is expected to grow and removed nearly 18.3 millions miles of passenger travel on to 345,000 jobs. The Green Line is 11 miles of exclusive right of way high volume roads such as Highway 10 and I-94. The estimated between downtown Saint Paul and downtown Minneapolis. It connects travel time of the entire route is 49 minutes. the existing Blue Line at the U.S. Bank Stadium station and ends at the new Minneapolis multimodal station, which also serves the Northstar

49 Big Lake Elk River Ramsey BUS RAPID TRANSIT (BRT) Anoka Coon Rapids/Riverdale

RED LINE MISSISSIPPI RIVER

The Red Line is a ten mile rapid bus route which started in 2013. The Mall of Oak Grove Pkwy Existing and Planned America connection to the Blue Line 93rd Ave BROOKLYN PARK 85th Ave Transitways provides access to the Minneapolis Brooklyn Blvd Fridley - St. Paul International Airport and

63rd Ave TWIN LAKE Brooklyn Center downtown Minneapolis. From downtown, Transit Center

Bass Lake Rd CRYSTAL connections to all areas of the metro are LAKE Robbinsdale C D available. Van Golden Valley Rd Penn White Ave Blvd Rosedale Transit Center Plymouth Ave Target Field

Warehouse District/Hennepin Ave Royalston Ave/Farmers Market ORANGE LINE Nicollet Mall A 3rd St Bassett Creek Valley SITE 5th St Downtown Government Plaza Bryn Mawr Minneapolis 8th St METRO Orange Line will provide frequent, U.S. Bank Stadium 11th St West 21st St West BankEast BankStadium Village limited-stop service between Burnsville Prospect Park West Lake St Westgate and Downtown Minneapolis. There will be Cedar-Riverside Raymond Ave Beltline Blvd LAKE CALHOUN Franklin Ave Fairview Ave upgraded stations at Lake Street, 46th Snelling AveHamline AveLexingtonVictoria Pkwy StDale St Western Capitol/RiceAve St Wooddale Ave Lake St Lake St/Midtown Street, 66th Street, 76th Street, American Downtown Robert St St. Paul Louisiana Ave LAKE HARRIET 38th St Metro StateEarl St Etna St White BearSun Ave Ray 3M HeadquartersGreenwayCrossroads/Oaks Ave TBD BusinessTBD ParkTBD 10th St Boulevard, 98th Street and Burnsville Blake Rd ST. PAUL 46th St MISSISSIPPI RIVER 46th St Central WOODBURY Transit Station. Long-term, a second Downtown Hopkins MINNEAPOLIS Union 50th St/Minnehaha Park Depot phase of the project could extend service Shady Oak D from Burnsville to Lakeville. The Orange VA Medical Center Opus Fort Snelling Line will provide direct connections to 66th St City West Terminal 1–Lindbergh Minneapolis-St. Paul planned transit improvements at Lake International Airport SouthWest Golden Triangle 76th St Terminal 2–Humphrey Street and American Boulevard and Station Mall of American Blvd American Blvd America provide convenient connections to the Eden Prairie Town Center Existing Transitways and Stations (deferred) 28th Bloomington METRO Blue and Green lines in downtown Ave Central METRO Blue Line (LRT) EDEN PRARIE 98th St Minneapolis. The line will also connect METRO Green Line (LRT) METRO Red Line (BRT) with local bus service and several Park & MINNESOTA RIVER Shared Station Cedar Grove Rapid Bus Line Ride lots. Northstar Line Cliff Rd Nicollet Ave

Burnsville Pkwy Palomino Dr Planned Transitways and Stations Burnsville Center 140th St METRO Orange Line (BRT): 2019 147th St METRO Green Line extension (LRT): 2021 METRO Blue Line extension (LRT): 2021 Apple Valley Transit Station METRO Orange Line extension (BRT): 2021 Lakeville Kenrick 161st St METRO Gold Line (BRT): TBD METRO Red Line extension (BRT): TBD Glacier Way Rapid Bus Lines

Lakeville Cedar

LAKEVILLE 195th St updated 08/16/16

215th St 50 MINNEAPOLIS SKYWAY MAP

SITE

51 DOWNTOWN INFRASTRUCTURE THE DOWNTOWN 2025 PLAN OVERVIEW

Today’s 21st Century Cities have strong and vibrant downtowns. The 2025 Plan brings the community together to ensure Minneapolis remains competitive and thriving today, tomorrow and in the decades to come. That includes public, private and non-profit businesses, residents and stakeholders alike working as one.

GOALS The 2025 Plan has 10 core initiatives that focus on downtown development, greening and public realm, downtown experience, transportation, ending street homelessness and launching a festival of ideas. These initiatives work hand-in-hand to create a flourishing downtwon environment for those who live, work, play and explore here.

1. Double Downtown’s Residential Population. 2. Transform Nicollet into a “must-see” destination. 3. Build Gateway Park. 4. Create a consistently compelling downtown experience. 5. Establish a downtown sports district that includes a new Vikings stadium. 6. Lead the nation in transportation options. 7. Create and sustain a green infrastructure - and showcase the riverfront. 8. Forge connections to the University of Minnesota. 9. End street homelessness. 10. Launch a festival of ideas and civic engagement.

PROGRESS Six committees and approximately 300 volunteers are working year- round to produce events, advocate for legislation, build connections and much more—all of which helps downtown Minneapolis thrive. The 2025 Plan influence is seen in new office buildings, the growing residential population, enhanced transit, The Commons, Nicollet and more.

Source: https://mplsdowntown.com/2025plan 52 NICOLLET MALL UPGRADE ON NICOLLET

Nicollet Avenue has been Minneapolis’ civic “Main Street” for more than 100 years. People come to Nicollet to work, eat and shop year round, and it’s the first impression many visitors get of the entire metro area. Host to the busiest light rail station and several bus routes, Nicollet provides key connections to many other downtown points of interest including the Mississippi River, Loring Park, the Minneapolis Convention Center, Target Field, Target Center, the Walker Art Center and Minneapolis Sculpture Garden, and U.S. Bank Stadium.

Nicollet plays a vital role in Minneapolis’ competitive edge both as a place that attracts investment and a place that people want to live. Its renovation was central to the mpls downtown council’s intersections: Downtown 2025 Plan and vision for downtown as a more inviting place for families, workers, and tourists to live, work, play, and visit. Nicollet is home to three Fortune 500 companies, hundreds of small businesses, and more than 140,000 workers. The redesigned Nicollet is expected to inject $105 million in new revenue, add nearly 3,000 jobs in downtown and increase property values in the area by $57 million. As such, Nicollet Mall is more than just a street – it is the outside world’s window onto the state and the region, and the place where business owners and investors get their first impression of Minnesota’s potential for growth.

Source: http://www.onnicollet.com 53 SOUTH 5TH ST

HENNEPIN AVE

CONTACT US

BRIAN PANKRATZ MIKE WILHELM First Vice President Senior Vice President

+1 952 924 4665 +1 612 336 4261 [email protected] [email protected]

CBRE © 2018 All Rights Reserved. All information included in this letter/proposal pertaining to CBRE—including but not limited to its operations, employees, technology and clients—are proprietary and confidential, and are supplied with the understanding that they will be held in confidence and not disclosed to third parties without the prior written consent of CBRE. This letter/proposal is intended solely as a preliminary expression of general intentions and is to be used for discussion purposes only. The parties intend that neither shall have any contractual obligations to the other with respect to the matters referred herein unless and until a definitive agreement has been fully executed and delivered by the parties. The parties agree that this letter/proposal is not intended to create any agreement or obligation by either party to negotiate a definitive lease/purchase and sale agreement and imposes no duty whatsoever on either party to continue negotiations, including without limitation any obligation to negotiate in good faith or in any way other than at arm’s length. Prior to delivery of a definitive executed agreement, and without any liability to the other party, either party may (1) propose different terms from those summarized herein, (2) enter into negotiations with other parties and/or (3) unilaterally terminate all negotiations with the other party hereto.