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1700 South Boulevard 0.53 Acre Site with an Existing 18,946 S.F. of Adaptive Re-Use South End Submarket | Charlotte, North Carolina

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Investment Opportunity 1700 South Boulevard 0.53 acre site with an existing 18,946 s.f. of adaptive re-use South End submarket | Charlotte, North Carolina Confidential offering memorandum Investment Opportunity TheThe OpportunityOpportunity 1700 South Boulevard is a high-visibility adaptive reuse opportunity in Charlotte’s fastest growing corridor, South End. Property name 1700 South Boulevard South End has been a beacon for economic growth in Charlotte 1700 - 1708 South Boulevard over the last decade. In 2007, the Blue Line Light Rail delivered Address which connected Uptown to Pineville passing through South End. Charlotte, NC 28203 This has catalyzed several billion dollars of private investment Property type Adaptive re-use in the area as millennials have flocked to transit-oriented urban development. Occupancy None Limited adaptive reuse opportunities remain in South End, as the wave of recent development has converted most usable buildings Year built 1957 into creative office or retail. Most of the remaining growth in South End will come via ground-up development and geographical Stories 2 expansion. 1700 South Boulevard is uniquely positioned as a cost- effective conversion opportunity in the heart of South End. 18,946 s.f. Gross building area (not including basement) Built in 1957, the building is a masonry, two story, structure with a bowstring truss roof system (barrel roof). In its current condition, Acreage 0.530 the building has limited structural work required to adapt the building for modern use. The existing owner has recently rezoned Zoning TOD-M the building to TOD-M, allowing for high-density development and no parking requirement. Sprinkler Yes (Wet system throughout) Construction Brick, masonry, steel 2 | Confidential Offering Memorandum 1700 South Boulevard | Charlotte, North Carolina E. KINGSTON AVE. SOUTH BLVD. Parcel: 12306407 277 0.268 ACRES CAMDEN ROAD Parcel: 12306406 0.261 ACRES E. KINGSTON AVE. WEST BLVD. SOUTH BLVD. 77 Site description Site accessibility 1700 South Boulevard is an ideal site for creative office, 1700 South Boulevard has strong accessibility due to its prime entertainment or restaurant users due to the site’s size and shape. location on South Boulevard and within the South End submarket. The site consists of two parcel, both equating to approximately South Boulevard is South End’s most used thoroughfare, 0.530 acres. One parcel holds a surface parking lot and a green approximately 22,000 vehicles per day, which spans from Uptown space, and the other holds the 18,946 square foot, two story Charlotte south to I-485 in Pineville. warehouse. 1700 South Boulevard is Equidistant between the EastWest and The site sits on a corner lot with frontage on both E. Kingston Bland light rail station on the Lynx Blue Line. The light rail and Avenue and South Boulevard. There is approximately 130 feet of adjacent pedestrian rail trail are Charlotte’s most sought-after frontage on E. Kingston Avenue and 150 feet or frontage on South pedestrian corridor. Boulevard. Due to the site’s situation on a corner, there are two points for ingress and egress, a strong investment attribute for South End. SOUTH 277 BOULEVARD EAST/WEST STATION BLAND STATION 77 ADJACENT 4.0 MINS 6.0 MINS 1.0 MILE 1.1 MILES (WALKING) (WALKING) 2.0 MINS 3.0 MINS Confidential Offering Memorandum 3| Investment Opportunity Data source: SouthCharlotte’sSouth success story EndEndCenter City Partners South End is one of Charlotte’s development success supply to meet the surge of young-professionals stories, and largely due to the LYNX Blue Line. Pre- moving to the area. Capitalizing on the LYNX Blue recession, South End was a historic, relatively quiet part Line and proximity to bustling Uptown and popular of Charlotte, but once the Blue Line construction began surrounding neighborhoods, developers built South in 2005, development in the area slowly started to take End into a corridor full of unique restaurants and bars, off. The Blue Line opened during the Great Recession entertainment centers, local breweries and creative in 2007; development was stagnant with no significant offices. Another significant movement in South End was increase in housing inventory from 2008 through 2012. the transformation of the area’s existing historic mills As the economy phased out of the recession into into mixed-use developments. These adaptive reuse recovery and expansion, South End’s developments, projects became home to some of the submarket’s population growth and overall popularity skyrocketed. most successful developments and spurred continued commercial and multifamily. Within a decade, South Since the early 2010’s, historic South End transformed End has developed a brand as Charlotte’s hip and edgy into a trendy and vibrant submarket. Post-recession place to be. brought a new wave of development that continues today. Developers saw a large gap in the multifamily South End housing and population growth 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Number of housing units Population 4 | Confidential Offering Memorandum 1700 South Boulevard | Charlotte, North Carolina 96% increase in housing units from ‘10-’17 (Center City Partners) South End office & residential growth 1,000,000 s.f. office planned or Recession ends under construction 88,000 s.f. 34 restaurants office planned or 63 restaurants 1 brewery Recession hits under construction 9 breweries & bottle shops 4,000,000 10,000 3,500,000 units residential Number of 8,000 2,500,000 6,000 2,000,000 1,500,000 4,000 1,000,000 Office square footage square Office 2,000 500,000 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Blue Line opens Blue Line Extension opens Blue Line Approval Blue Line construction starts Confidential Offering Memorandum 5| Investment Opportunity Southoffice & multifamily End development pipeline # Building Name Total SF Delivery # Building Name Total Units Delivery Recently Delivered Recently Delivered 1 The RailYard - North Tower 163,262 2019 1 Bainbridge South End 200 2019 2 RailYard South Tower 163,262 2019 2 Camden Grandview Townhomes 28 2018 3 300 W Summit 63,933 2019 3 Novel Stonewall Station 459 2018 4 605 Lexington Ave. 18,282 2019 4 Savoy 302 2018 5 Dimensional Place 265,000 2019 5 Penrose Apartments 350 2018 6 The Design Center of the Carolinas 181,219 2019 AVERAGE RECENTLY DELIVERED 268 TOTAL RECENTLY DELIVERED 854,958 Under Construction Under Construction 6 2205 Dunavant St 200 2020 7 Spectrum SouthEnd 630,000 2021 7 Broadstone Queen City 260 2020 8 2100 S Tryon 83,000 2020 8 Bradham 100 2020 9 307 W Tremont 30,000 2019 9 Novel Atherton 346 2019 10 Atherton Mill & Market 115,000 TBD 10 Centro Railyard 345 2019 11 224 W Tremont 20,000 2020 AVERAGE UNDER CONSTRUCTION 250 12 332 W Bland St 39,000 2019 Proposed TOTAL UNDER CONSTRUCTION 917,000.00 11 ONEBrookhill 100 2021 Proposed 12 Hawk 191 2021 13 2151 Hawkins 295,000 2021 13 Strawn Cottages Redevelopment TBD 2020 14 Common Square 130,000 2021 14 3232 South Blvd 212 2020 15 Strawn Cottages Redevelopment 330,000 TBD AVERAGE PROPOSED 168 16 LoSo Station 120,000 2020 TOTAL AVERAGE PIPELINE 229 17 Lowe's Tech Hub 357,000 2021 TOTAL PROPOSED 425,000.00 TOTAL OFFICE PIPELINE 2,196,958.00 6 | Confidential Offering Memorandum 1700 South Boulevard | Charlotte, North Carolina 2 277 7 CARSON 3 4 South Blvd. 7 4 12 13 2 1 15 BLAND 3 10 5 1700 South Blvd. 14 South Blvd. EAST/WEST STATION 17 12 6 11 9 13 9 10 5 8 South Blvd. South 6 11 1 14 16 South Blvd. South NEW BERN STATION 8 Confidential Offering Memorandum 7| Investment Opportunity SouthSouth EndEnd BROADSTONE QUEEN CITY 260 UNITS 277 SPECTRUM SOUTHEND 77 332 W. BLAND STREET 630,000 SF 39,000 SF RAILYARD 326,524 SF 300 W. SUMMIT CENTRO RAILYARD 63,933 SF 345 UNITS BLAND DIMENSIONAL PLACE 265,000 SF COMMON SQUARE 130,000 SF LOWE’S TECH HUB 357,000 SF EAST/WEST STATION HAWK APARTMENTS 191 UNITS DESIGN CENTER FOR THE CAROLINAS Camden Rd. 181,219 SF South Blvd. 8 | Confidential Offering Memorandum 1700 South Boulevard | Charlotte, North Carolina NOVEL STONEWALL STATION SAVOY CARSON 459 UNITS 302 UNITS CAMDEN GRANDVIEW 28 UNITS 277 605 LEXINGTON AVENUE STRAWN COTTAGES 18,282 SF UNITS TBD STRAWN COTTAGES 330,000 SF South Blvd. 1700 South Blvd. EAST/WEST STATION Map Legend Office developments Multifamily developments Recently delivered Recently delivered South Blvd. Under construction Under construction Proposed Proposed Confidential Offering Memorandum 9| Investment Opportunity 3232 SOUTH BLVD. LOSO STATION 212 UNITS 120,000 SF BRADHAM 100 UNITS SouthSouth EndEnd NEW BERN STATION BAINBRIDGE SOUTHEND 200 UNITS ATHERTON MILL & MARKET 115,000 SF 2151 HAWKINS (PORTMAN BUILDING) 295,000 SF NOVEL ATHERTON 346 UNITS South Blvd. 1700 South Blvd. EAST/WEST STATION Map Legend Office developments Multifamily developments Recently delivered Recently delivered Under construction Under construction Proposed Proposed South Blvd. 10 | Confidential Offering Memorandum 1700 South Boulevard | Charlotte, North Carolina ONEBROOKHILL 100 UNITS 2205 DUNAVANT ST. 2100 SOUTH TRYON 200 UNITS 307 W TREMONT 83,000 SF 30,000 SF 2151 HAWKINS PENROSE APARTMENTS (PORTMAN BUILDING) 250 UNITS 295,000 SF 224 W TREMONT 20,000 SF DESIGN CENTER FOR Camden Rd. THE CAROLINAS 181,219 SF HAWK APARTMENTS 191 UNITS LOWE’S TECH HUB 357,000 SF EAST/WEST STATION COMMON SQUARE 130,000 SF Camden Rd. Confidential Offering Memorandum 11| Investment Opportunity Elevations Exterior parking surface lot 12 | Confidential Offering Memorandum 1700 South Boulevard | Charlotte, North Carolina Entrance Interior Interior Entrance facing north on South Blvd.
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