Offering Memorandum A premier, Class-A, multi-tenant, office/retail property One Technology Plaza Peoria, Illinois CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NON-ENDORSEMENT NOTICE Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. Exclusively listed by: Investment Sales: David Tarnoff Vice President Investments CHICAGO O’HARE OFFICE Tel: (773) 867-1483 Cell: (847) 212-4589 OFFICES THROUGHOUT THE U.S. AND CANADA [email protected] www.marcusmillichap.com License: IL 471.009921 TABLE OF CONTENTS ONE TECHNOLOGY PLAZA Executive Summary Leasing Market Overview The Offering ................................................................................................ 2 Investment Highlights ................................................................................. 2 Downtown Peoria Office Market Overview ............................................... 32 Downtown Peoria Characteristics ............................................................... 3 Comparable Downtown Properties ........................................................... 34 Demographics ............................................................................................ 3 Comparable Downtown Properties Map ................................................... 35 Site Plan ..................................................................................................... 4 Property Offering ........................................................................................ 4 Tenancy Overview Regional Map ............................................................................................. 5 Local Map ................................................................................................... 5 Tenant and Lease Summaries .................................................................. 38 Location Highlights ..................................................................................... 6 Tenant Amenities & Technology Infrastructure............................................ 8 Financial Analysis Yields and Pricing Parameters ................................................................... 9 Summary of Terms.................................................................................... 10 Financial Analysis Overview ..................................................................... 46 Financing .................................................................................................. 10 Financial Summary ................................................................................... 47 Assumptions ............................................................................................. 48 Property Description Rent Roll ................................................................................................... 49 Financing Overview .................................................................................. 51 Property Details ........................................................................................ 12 Property Summary .................................................................................... 52 Zoning, Planning & Controls ..................................................................... 12 Schedule of Prospective Cash Flow - 10 Yr ............................................. 53 Property Specifications ............................................................................. 14 Sources of Expense Reimbursements Revenue ...................................... 54 Property Management .............................................................................. 16 Loan Summary – Existing Loan Assumption.............................................55 Neighborhood ........................................................................................... 18 Loan Summary – Refinance......................................................................56 Floor Plans ............................................................................................... 19 Consolidated Loan.....................................................................................57 Schedule of Sources & Uses.....................................................................58 Location Resale........................................................................................................59 Detailed PV – Unleveraged........................................................................60 Location Overview .................................................................................... 24 Detailed PV – Leveraged...........................................................................61 City of Peoria & Peoria MSA ..................................................................... 24 Comparable Investment Office Sales ....................................................... 64 Comparable Investment Office Sales Map ............................................... 66 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future iii performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap ACT ID X0150470 executive summary summaryEXECUTIVE SUMMARY EXECUTIVE SUMMARY ONE TECHNOLOGY PLAZA The Offering Investment Highlights Marcus and Millichap has been selected to exclusively market for sale One Technology Plaza, a premier, Class A office property located at 211 Fulton Street, Peoria, Illinois. This architecturally distinctive building is Asking Price $22,850,000 home to 12 tenants and six vacant suites with varying lease terms and sizes. The property is well located at Price Per SF ( Net of Condo) $154.65 the northwest corner of Fulton and SW Washington Streets, providing tenants with abundant amenities within Investment Type Stabilized Class A walking distance and easy access to Interstate 74. Property Type Multi-Tenant Office/Retail One Technology Plaza is a multi-use Property containing a seven-story office building with a mechanical Size 147,755 SF penthouse and a street-level retail component located on the first level of an adjacent parking deck (parking garage not included in offering) which has direct access to the Offering on all floors. The Property was Year Built 2000 constructed in 2000. The total building