Representative Photos

Offering Memorandum

Gaithersburg, Maryland(Washington, D.C. MSA)

Medical Marijuana

Dispensaries Considered

“Essential” During Pandemic

27 Miles North of Washington, D.C., and Part of the Metro Area

New Location Renovated Per Tenant

Specs

The Largest National Retail Dispensary Brand in the U.S.

New, 10-Year, NNN Lease with 3% Annual

Rent Increases

Strong Demos With Household Incomes Exceeding $100,000

CONFIDENTIALITY AND DISCLAIMER

NON-ENDORSEMENT NOTICE

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 Real Estate Investment Services of Florida, Inc. 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.

Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.

Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success.Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

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.

NET LEASED DISCLAIMER

RENT SCHEDULE

OverviewPrice: $3,053,500Cap Rate: 7.00%Rentable Square Feet: 3,202Annual Rent: $213,750Land Area: 0.38 AcresYear Built/Reno: 2011/2020

Base Term Annual Rent PSF Cap Rate

Lease Year 1: $213,750 $66.76 7.00%Lease Year 2: $220,162 $68.76 7.21%Lease Year 3: $226,767 $70.82 7.43%Lease Year 4: $233,570 $72.95 7.65%Lease Year 5: $240,577 $75.13 7.88%Lease Year 6: $247,795 $77.39 8.12%Lease Year 7: $255,229 $79.71 8.36%Lease Year 8: $262,886 $82.10 8.61%Lease Year 9: $270,772 $84.56 8.87%Lease Year 10: $278,895 $87.10 9.13%

Option 1 Annual Rent PSF Cap Rate

Option 1, Lease Year 11: $287,262 $89.71 9.41%Option 1, Lease Year 12: $295,880 $92.40 9.69%Option 1, Lease Year 13: $304,756 $95.18 9.98%Option 1, Lease Year 14: $313,899 $98.03 10.28%Option 1, Lease Year 15: $323,316 $100.97 10.59%

Option 2 Annual Rent PSF Cap Rate

Option 2, Lease Year 16: $333,015 $104.00 10.91%Option 2, Lease Year 17: $343,006 $107.12 11.23%Option 2, Lease Year 18: $353,296 $110.34 11.57%Option 2, Lease Year 19: $363,895 $113.65 11.92%Option 2, Lease Year 20: $374,811 $117.06 12.27%

Lease SummaryTenant: CuraleafWebsite: www.Curaleaf.comLease Guarantor: Curaleaf Holdings, Inc.Lease Type: NNNLease Term: 10 YearsOption Periods: 2, 5-Year OptionsRent Increases: 3% AnnuallyRoof & Structure: TenantCommencement: 8/3/2020Lease Expiration: 8/2/2030

FINANCIAL OVERVIEW3% Annual

Rent Increases in Base Term and Option

Periods

10011 Stedwick Road, Gaithersburg, MD 20886(Washington, D.C. MSA)

INVESTMENT HIGHLIGHTS

Part of the Washington D.C. Metro Area• Subject Property is 27 Miles North of Washington, D.C. and 45

Miles West of Baltimore• Employment Gains Contribute to Population Growth that Outpaces

the National Average• Population is Expected to Grow by Nearly 295,000 Through 2024• The Economy of the Washington, D.C. Metro is One of the Largest

in the Nation and is Home to Numerous Fortune 500 Companies

10011 Stedwick RoadGaithersburg, MD 20886

New, 10-Year, NNN Lease• Brand New, 10-Year, Triple Net (NNN) Lease with Two, Five-Year

Renewal Options• Three Percent Annual Rent Increases Throughout Base Term and

Option Periods

Brand New Location• New Location Opening January 2021; Currently Under Renovation• Medical Marijuana Dispensaries are “Essential” Businesses During

Coronavirus Pandemic• Curaleaf is the Largest National Retail Dispensary Brand in the

Country

Strong Demographics and Traffic Count• Average Household Income Exceeding $100,000 in One and Three

Mile Radius; and $125,000 Within Five Miles• Population Over 275,000 Within a Five-Mile Radius of Subject

Property• Located off Montgomery Village Avenue with a Daily Traffic Count

of Approx. 40,000 Vehicles• Surrounding National Retailers Include Costco Wholesale, Sam’s

Club, Macy’s, Marshall’s, Ross, Bed Bath & Beyond, Burlington, Ashley HomeStore, Big Lots, Harbor Freight Tools, Kay Jewelers, Ruby Tuesday, Panera Bread, McDonald’s, Popeyes, Chipotle, CVS, Verizon, Advance Auto Parts, Wells Fargo and Many More

• Two Miles from Interstate 270, the Major Roadway in the Area Connecting to Washington, D.C. and has a Daily Traffic Count of 290,000 Vehicles

SUBJECT PROPERTY

RENDERINGS

BUILDING PLAN

TENANT OVERVIEW

TENANT SUMMARY

Curaleaf is the largest national retail dispensary brand in the U.S., as well as a premium mainstream cannabis brand available in multiple states and product formats, including Vape Oils &

Concentrates; Flower, Prerolls & Flower Pods; Topical Lotions; Capsules & Tinctures; Mints & Lozenges; and Edibles.

Headquartered in Wakefield, Massachusetts, Curaleaf is strategically positioned in highly populated, limited-license states. The company currently operates in 23 states with 93 dispensaries, 22 cultivation sites, 30 processing sites and employs over 2,200 people across the United States.

Curaleaf leverages its extensive research and development capabilities to distribute cannabis in multiple formats with the highest standard for safety, effectiveness, consistent quality, and customer care.

Curaleaf Holdings, Inc. is the leading vertically integrated multi-state cannabis operator in the United States. It is a high-growth cannabis company with a national brand known for quality, trust, and reliability. Through a team of physicians, pharmacists, medical experts and industry visionaries, Curleaf has created a premier, branded, cannabis-based wellness offering, as well as CBD products through its Curaleaf Hemp brand Bido brand for pets.

🖱Curaleaf.comCuraleaf Blog

HEADQUARTERS

Wakefield, MA

🏙

200,00+REGISTERED

PATIENTS

👫93LOCAL

DISPENSARIES

📍

🗺OPERATES IN

23STATES

TENANT SUMMARY

Second Quarter Highlights• Record managed revenue of $121.4 million, which grew 120% year-over-

year and 16% sequentially, despite estimated $25.6 million revenue related impact from COVID-19 largely in Nevada and Massachusetts

• Record total revenue of $117.5 million, which grew 142% year-over-year and 22% sequentially

• Record Adjusted EBITDA of $28.0 million, which grew more than five times 2019 levels and 40% sequentially

• Generated cash flow from operations of $23.4 million

• Select launched into 2 new states

• Completed acquisition of Arrow in Connecticut

• Completed acquisition of Maine Remedy assets that were previously managed

Curaleaf Reports Record Second Quarter 2020 Financial and Operational Results

WAKEFIELD, Mass., Aug. 17, 2020 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading vertically integrated cannabis operator in the U.S., today reported its financial and operating results for the second quarter ended June 30, 2020. All financial information is provided in U.S. dollars unless otherwise indicated.

Record Second Quarter Pro Forma Revenue(1)(2)of $165.4 Million and Record Second Quarter Managed Revenue(1)of $121.4 Million;

Record First Half Managed Revenue(1) of $226.4 Million;

Record Adjusted EBITDA(1) of $28.0 Million as Operations Across 17 States Continue to Scale;

Completed Closing of the Grassroots Acquisition Expanding Presence to 23 States

Read Full Second Quarter 2020 Financial Report HERE

TENANT SUMMARY

First Quarter Highlights• Reported record managed revenue of $105.0 million, which grew 29%

sequentially• Reported record total revenue of $96.5 million, which grew 28% sequentially• Record Adjusted EBITDA of $20.0 million, which grew 45% sequentially• Closed $300 million senior secured term loan facility• Opened Company’s second adult-use dispensary and the first adult-use

dispensary on Cape Cod in Provincetown, MA and the Company’s third adult-use dispensary in Ware, MA

• Completed acquisition of Select and enhanced management team with key leadership appointments

• Won retail and processing licenses in Utah and received Clinical Registrant Designation by the Pennsylvania Department of Heath permitting Curaleaf to open a cultivation and processing facility and up to six dispensaries under the Commonwealth’s medical marijuana research program

Curaleaf Reports Record First Quarter 2020 Financial and Operational Results

WAKEFIELD, Mass., May 18, 2020 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading vertically integrated cannabis operator in the U.S., today reported its financial and operating results for the first quarter ended March 31, 2020. All financial information is provided in U.S. dollars unless otherwise indicated.

Reported Record Pro Forma Revenue(1)(2) of $147.4 Million and Managed Revenue(1) of $105.0 Million;

Generated $20.0 Million of Record Adjusted EBITDA(1) as Operations Across 17 States Continue to Scale;

Completed Acquisitions of Select and Arrow in Connecticut Securing Vertical Integration;

Completed Negotiations to Finalize the Closing of the Grassroots Acquisition Which is Expected to Close by the End of the Second Quarter

Read Full First Quarter 2020 Financial Report HERE

INVESTOR PRESENTATIONCURALEAF INVESTOR’S PRESENTATIONSeptember 2020

Click for Full Curaleaf Investor’s Presentation September 2020

INVESTOR PRESENTATIONCURALEAF INVESTOR’S PRESENTATIONSeptember 2020

Click for Full Curaleaf Investor’s Presentation September 2020

INVESTOR PRESENTATIONCURALEAF INVESTOR’S PRESENTATIONSeptember 2020

Click for Full Curaleaf Investor’s Presentation September 2020

INVESTOR PRESENTATIONCURALEAF INVESTOR’S PRESENTATIONSeptember 2020

Click for Full Curaleaf Investor’s Presentation September 2020

INVESTOR PRESENTATIONCURALEAF INVESTOR’S PRESENTATIONSeptember 2020

Click for Full Curaleaf Investor’s Presentation September 2020

Meet the New Curaleaf, the Largest Cannabis Company in the World

After its acquisition of Grassroots Cannabis, Curaleaf is now positioned in 23 U.S. states. That’s just the beginning.

In late July, Curaleaf closed an approximately $700-million deal to acquire Grassroots Cannabis. The move places Curaleaf boots on the ground in 23 U.S. states with a footprint that includes 88 operational dispensaries and 22 cultivation sites with 1.6 million square feet of current cultivation capacity.

The acquisition makes Curaleaf the largest cannabis company in the world, based on its anticipated $1 billion in annual revenue, a stat touted by the company’s executive chairman on CNN Business in July.

And, yes, it’s a big deal on face value, but Curaleaf CEO Joe Lusardi says that the transaction represents a pivot toward the longer-term direction of the legal cannabis marketplace.

For instance, the acquisition provides Curaleaf a sturdy, scaled-up position in quickly growing markets like Illinois and Pennsylvania. Not only are those states rolling in cannabis revenue right now (Illinois saw more than $300 million in adult-use cannabis sales through July this year, according to the Illinois Department of Financial and Professional Regulation), but customers in those markets will be a driving force behind shifts in product category demand and connoisseurship.

In late July, Curaleaf closed an approximately $700-million deal to acquire Grassroots Cannabis. The move places Curaleaf boots on the ground in 23 U.S. states with a footprint that includes 88 operational dispensaries and 22 cultivation sites with 1.6 million square feet of current cultivation capacity.

The acquisition makes Curaleaf the largest cannabis company in the world, based on its anticipated $1 billion in annual revenue, a stat touted by the company’s executive chairman on CNN Business in July.

And, yes, it’s a big deal on face value, but Curaleaf CEO Joe Lusardi says that the transaction represents a pivot toward the longer-term direction of the legal cannabis marketplace.

IN THE NEWS

Read Full Article HERE

IN THE NEWS

BusinessCannabis Demand at All-Time High Amid Pandemic, Curaleaf SaysPublished July 23, 2020

Consumers are buying record amounts of cannabis amid the Covid-19 pandemic, according to the chairman of Curaleaf Holdings Inc.

The cannabis producer, which today completed its purchase of GR Companies Inc., saw its highest ever monthly sales in June, Boris Jordan said in an interview. July is shaping up to be another record, even before the acquisition is factored in, he said.

“We’re still seeing strong demand, and we’re seeing an expanded customer base,” Jordan said, adding that these include shoppers over 55 and those attracted to wellness products.

He predicted the company will have over $1 billion in revenue next year. The company reported total revenue of $221 million in 2019.

Even so, there are clouds on the horizon -- with unemployment rising and the effect of stimulus checks fading, recreational adult use could start to wane, he said.

“If we don’t have stimulus checks and the population doesn’t go back to work, no company can survive that” he said, noting that the many frequent cannabis users are relying on the checks for help. He predicted less of an impact on Curaleaf’s wellness-oriented products, which target users with higher levels of discretionary income.

There’s been a wave of increased cannabis sales since the pandemic began, industry data show. Sales so far this year are approaching $4 billion according to BDS Analytics. While sales declined slightly in April after a March bump related to stockpiling in quarantine, they trended upwards again in May, surpassing March’s numbers.

Curaleaf, based in Wakefield, Massachusetts, sells cannabis and wellness products and also operates cultivation and processing sites. The GR Companies deal expands its presence from to 23 states from 18 states. The transaction makes it the largest cannabis company in the world by revenue, according to the company.

Read Full Article HERE

IN THE NEWS

Curaleaf finalizes Grassroots deal, grows marijuana footprint to 23 statesPublished July 23, 2020

Marijuana multistate operator Curaleaf said Thursday it has completed its acquisition of privately held Grassroots Cannabis, expanding Curaleaf’s presence to 135 dispensary locations and licenses in 23 states.

The original value of the deal was $875 million, but Massachusetts-based Curaleaf in June announced an amended agreement that reflected a selloff of unspecified Grassroots assets in Illinois, Maryland and Ohio to comply with license caps in those locations.

Analysts at that time put the value of the revised deal at about $700 million.

Curaleaf said it has appointed Mitchell Kahn, co-founder and CEO of Chicago-based Grassroots, to its now six-member board of directors.

Here are key business aspects of the deal, according to a news release:• The acquisition expands Curaleaf’s footprint from 18 to 23 states.• Curaleaf said it now will have 88 operational dispensaries, 30

processing facilities and 22 grow sites with a total of 1.6 million square feet of cultivation capacity.

• The transaction, the company said, accelerates its expansion into Illinois, the country’s newest recreational marijuana market, and Pennsylvania, a growing medical cannabis market.

• Remaining Maryland operations previously affiliated with Grassroots might be transferred to Curaleaf after a statutory three-year ownership holding period expires. The transfer is subject to regulatory approval and compliance with license caps.

Curaleaf trades on the Canadian Securities Exchange as CURA.

Shares were up slightly to $9.75 Canadian dollars in early trading Thursday.

Read Full Article HERE

IN THE NEWS

Curaleaf Closes Grassroots Cannabis AcquisitionCuraleaf Completes the Acquisition of Grassroots Creating the World’s Largest Cannabis Company

Published July 23, 2020

• Market Leading U.S. Presence Across 23 States with Over 135 Dispensary Locations and Licenses

• Mitchell Kahn, Grassroots Co-Founder and CEO, Appointed to the Curaleaf Board of Directors

WAKEFIELD, Mass., July 23, 2020 /PRNewswire/ — Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), the largest vertically integrated cannabis operator in the United States, today announced that it closed its milestone acquisition of GR Companies, Inc. (“Grassroots”), the largest private vertically-integrated multi-state operator in the United States, on July 23, 2020.

With completion of the acquisition of Grassroots, Curaleaf is the world’s largest cannabis company by revenue and the most diversified vertically integrated cannabis company in the United States, the world’s largest cannabis market. The transaction expands Curaleaf’s presence from 18 to 23 states, with the combined company having affiliated operations spanning over 135 dispensary licenses, 88 operational dispensary locations, over 30 processing facilities and 22 cultivation sites with 1.6 million square feet of current cultivation capacity. Curaleaf’s expanded geographic dispensary presence now offers access to medical or adult use Cannabis to more than 192 million people, or roughly two-thirds of the United States population.

“The successful acquisition of Grassroots marks Curaleaf’s expansion into new vertically integrated markets in the Midwest, firmly establishing our U.S. market leadership position.

This highly complementary combination brings together two companies with a shared vision for enhancing patients’ and customers’ lives with high-quality cannabis wellness and lifestyle products,” commented Joseph Lusardi, CEO of Curaleaf.

Completion of the transaction strategically accelerates Curaleaf’s expansion into Illinois and Pennsylvania, which are among the largest and fastest-growing cannabis markets in the United States. Upon close, Curaleaf will hold a leading licensed cannabis presence in state markets including Arizona, Connecticut, Florida, Illinois, Pennsylvania, Maryland, Massachusetts, Maine, Nevada, New Jersey, New York, North Dakota, and Vermont.

The cultivation and processing assets in Illinois have been transferred and the formal approval to transfer certain retail assets is expected imminently. Maryland operations previously affiliated with Grassroots may be transferred to Curaleaf after expiration of the statutory hold period, subject to regulatory approval and compliance with restrictions on ownership or control of multiple cultivation, processor and dispensary licenses in the State.

“Both Grassroots and Curaleaf are driven by a similar, positive culture and we are excited to join forces, adding scale and a combined strategic vision to create a dominant position in the industry,” commented Mitchell Kahn, Co-Founder and CEO of Grassroots. ....

Read Full Article HERE

The integration of Grassroots is expected to be immediately accretive to our financial performance, with our unprecedented scale

providing significant opportunities to leverage Curaleaf’s powerful consumer brands as well

as new form factor innovations across our expanded national presence.

“

”

LOCATION OVERVIEW

AERIAL

Stedwick RoadStedwick Road

10,150Daily

40,000Daily

Population Over 275,000

Within a 5-Mile Radius

of Property

McDonald’sMcDonald’s

Mon

tgom

ery

Villa

ge A

ve.

Mon

tgom

ery

Villa

ge A

ve.

Montgomery Village Middle

School

AERIAL

40,000Daily

King Volkswagen

Montgomery Village Ave.

Montgomery Village Ave.

Lakeforest MallLakeforest Mall

McDonald’sMcDonald’s

290,000Daily

Annapolis

Baltimore

Washington, D.C.

LOCAL & REGIONAL MAPS

MARKET OVERVIEW

WASHINGTON, D.C.

MARKET OVERVIEW

OVERVIEW

Washington, D.C., is located along the Potomac River, just inland from the Chesapeake Bay. In addition to the District of Columbia, the Washington, D.C., metro encompasses 22 counties and jurisdictions. Nearly 20 percent of the District is parkland managed by the U.S. National Park Service. Areas surrounding the District of Columbia include portions of Maryland, Virginia and West Virginia. The District and inner-ring suburbs are densely populated. Washington, D.C., is the largest city in the metro with a population of 684,000 people. The remaining population centers are much smaller; only Arlington and Alexandria have more than 153,000 residents.

METRO HIGHLIGHTS

HIGHLY SKILLED WORKFORCE

Nearly half of all local residents age 25 and older

have earned a bachelor’s degree or higher, well

above the U.S. level of 30 percent.

STRONG JOB AND POPULATION GROWTH

Employment gains contribute to population growth

that outpaces the national average. Nearly 295,000

additional people are expected through 2024.

DIVERSIFYING ECONOMY

Jobs in professional services now outnumber federal

government positions.

MARKET OVERVIEW

ECONOMY▪ The economy of the Washington, D.C., metro is one of the largest in the nation and is home

to numerous Fortune 500 companies, including Leidos Holdings, DXC Technology, AES, Danaher, Discovery, NVR and Hilton Worldwide.

▪ Employment is primarily focused on government, lobbying, defense contracting, data processing and news reporting.

▪ A sizable hospitality sector employs roughly 358,000 workers and supports more than 20 million annual visitors to the region’s vast array of attractions.

MAJOR AREA EMPLOYERS

George Washington University

Fannie Mae

Federal Bureau of Investigation

Lockheed Martin

Georgetown University

Capital One Financial Corp.

Smithsonian Institution

Medstar Health

CSC Corp.

Joint Base Andrews * Forecast

SHARE OF 2019 TOTAL EMPLOYMENT

MANUFACTURING

2%GOVERNMENT

HEALTH SERVICES

EDUCATION AND

+OTHER SERVICES

6%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

12%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

2%INFORMATION

23%

5%

21% 11% 5%

13%

MARKET OVERVIEW

DEMOGRAPHICS

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

▪ More than 125,000 households are expected to be formed through 2024,

boosting housing demand. The median home price of $445,000 is well above

the national median and contributes to a homeownership rate of 61 percent,

slightly higher than the national rate of 57 percent.

▪ Nearly 24 percent of residents age 25 and older hold a graduate or professional degree compared with 11 percent for the nation.

The Washington, D.C., metro is one of the most dynamic in the U.S. It is the seat of the United States government. The region has a cosmopolitan air and is a destination for visitors from across the nation and around the world, containing numerous prominent public buildings and landmarks. It is home to many of the nation’s leading media outlets, think tanks and universities. Washington, D.C., also has extraordinary museums, theaters and restaurants that are patronized by visitors and an affluent local population. Educational opportunities abound in the metro area’s many institutions of higher learning. Prominent universities include George Washington University, American University, Georgetown University and the University of Maryland.

QUALITY OF LIFE

2019 Population by Age

0-4 YEARS

6%5-19 YEARS

19%20-24 YEARS

6%25-44 YEARS

29%45-64 YEARS

26%65+ YEARS

13%

37.1

2019MEDIAN AGE:

U.S. Median:

38.1

$98,900

2019 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$60,800

6.2M

2019POPULATION:

Growth2019-2024*:

4.8%

2.3M

2019HOUSEHOLDS:

5.4%

Growth2019-2024*:

DEMOGRAPHICS

Or in Google Street View

Click to View in Google Maps

POPULATION 1 MILE 3 MILES 5 MILES

2010 Population 24,142 130,096 253,5282019 Population 25,475 138,994 275,5952024 Population 25,839 142,949 288,0812019 Male Population 12,378 68,276 134,1842019 Female Population 13,097 70,718 141,4112019 Median Age 36.4 35.0 36.0

RACE & ETHNICITY 1 MILE 3 MILES 5 MILES

American Indian, Eskimo 0.6% 0.6% 0.4%Asian 12.3% 15.1% 19.5%Black 25.7% 25.0% 21.0%Hawaiian/Pacific Islander 0.1% 0.1% 0.1%White 41.1% 39.6% 43.9%Other 14.1% 13.6% 9.4%Multi-Race 6.1% 6.2% 5.6%Hispanic Ethnicity 32.4% 32.4% 24.2%Not of Hispanic Ethnicity 67.6% 67.6% 75.8%

HOUSEHOLDS 1 MILE 3 MILES 5 MILES

2010 Households 9,045 45,090 90,3932019 Households 9,659 48,912 100,1302024 Households 9,798 50,371 105,000

HOUSEHOLD INCOME 1 MILE 3 MILES 5 MILES

2010 Avg Household Income $95,218 $102,722 $116,5972019 Avg Household Income $100,367 $109,493 $127,8832024 Avg Household Income $111,815 $122,416 $143,7892010 Med. Household Income $76,677 $80,930 $91,7922019 Med. Household Income $74,919 $80,055 $94,4462024 Med. Household Income $83,036 $89,556 $106,6262010 Per Capita Income $35,799 $35,693 $41,6452019 Per Capita Income $38,176 $38,619 $46,5322024 Per Capita Income $42,520 $43,223 $52,475

The Wolfe-Lipsky Retail Group of Marcus & Millichap specializes in the sale of single-tenant properties and shopping centers and has successfully assisted clients in selling over 550

separate commercial properties with a market value exceeding $1.65 billion. Having closed sales in more than 40 states, our track record is evidence that we are one of the premier brokerage teams in the United States.

With our experience and background in various fields such as law and finance, we have proved to be invaluable to our clients, earning their trust and exceeding their expectations while best assisting them in their real estate transactions.

For more about the Wolfe-Lipsky Retail Group or to view all of our available listings, visit www.WolfeRetailGroup.com

The Wolfe-Lipsky Retail Group has

sold over 550 properties in more

than 40 states

About Marcus & MillichapWith nearly 2,000 investment professionals located throughout the U.S. and Canada, Marcus & Millichap (NYSE: MMI) is a leading specialist in commercial real estate investment sales, financing, research and advisory services. The firm closed more than 9,400 transactions in 2018 with a value of approximately $46.3 billion.

Marcus & Millichap has been a pioneer in the real estate investment industry and has established a reputation for maximizing value for its clients while fostering long-term relationships built on integrity, trust and service. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. Marcus & Millichap also offers clients access to the most competitive real estate financing through Marcus & Millichap Capital Corporation (MMCC), which maintains relationships with the industry’s leading national, regional and local lenders.

Bryn MerreyBroker of Record

Lic. # 646476Bryn.Merrey@marcusmillichap.com

SPECIAL COVID-19 NOTICE: All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.)

Alan LipskyFirst Vice President Investments

License: SL 3279054

Evan WhelanAssociate

License: SL 310245

Charles MoodyAssociate

License: SL 3404499

Michael TalbertAssociate

License: SL 3418448

Joseph PrioAssociate

License: SL 3422291

Ashley BarrettTransaction Coordinator

Catie JacksonMarketing Coordinator

Barry M. WolfeSenior Managing Director Investments

License: SL 702613Barry.Wolfe@marcusmillichap.com

(954) 245-3493