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Midwest shopping Center portfolio

ConfidentiAl offering MeMorAndUM

8 shopping Centers

Retail Investment Offering Midwest Shopping Center Portfolio

PORTFOLIO/INVESTMENT SUMMARY

Number of Centers 8Gross Leasable Area 1,196,056Total Occupied SF 759,273Total Vacant SF 436,783Average Occupancy 63%Price/SF $41.72

Combined Portfolio Summary

Portfolio Snapshot

The offering presents an investor the opportunity to acquire a portfolio of 8 shopping centers located throughout the states of Michigan, Ohio, and Indiana. The Portfolio is being offered free and clear of debt and will be sold “As Is/Where Is” with no warranties from the Seller. Seller Financing available.

The portfolio totals approximately 1.2 million square feet and has an average occupancy of 63%. The portfolio’s major tenants include TJMaxx, Forman Mills, Apple’s Market, Dollar General, Family Farm & Home, Save-A-Lot, Big Lots, Family Dollar, and Value City Furniture.

The offering represents a rare opportunity for an investor to purchase a portfolio of shopping centers with significant value add potential along with a strong stable cashflow in place.

With avgerage rents equaling $7.51 (Total Occupied SF/Total Income), the projections show:

25% Lease Up @ 7.51 psf



Increase in Income $820,060 $1,640,120 $2,460,180New NOI $5,314,007 $6,134,067 $6,954,127 Value at 9% Cap Rate $59,044,523 $68,156,302 $77,268,081

Cap Rate 9%Total Income $5,705,282Total Expenses $1,211,335 NOI $4,493,947

ASKING PRICE$49,900,000

Combined In-Place Financial Summary

Name City, State SF Occup.Total

IncomeTotal

Expenses NOIBel Air Centre Detroit, MI 439,551 48% $1,203,552 $260,362 $943,190The Center of Sheffield Lorain, OH 190,025 71% $1,120,662 $220,500 $900,162 Eastridge Commons Flint, MI 169,676 44% $897,595 $177,383 $720,212Lafayette Center Indianapolis, IN 116,260 86% $786,816 $162,676 $624,140Lenox Square Richmond, MI 92,507 65% $433,212 $147,680 $285,532Gallia Street Shoppes Portsmouth, OH 79,808 93% $507,601 $87,764 $419,837Marion Plaza Columbus, OH 63,829 100% $392,184 $83,909 $308,275Cable Shores Canton, OH 44,400 87% $363,660 $71,061 $292,599Total 1,196,056 $5,705,282 $1,211,335 $4,493,947


4

BEL-AIR CENTRE PROPERTY SUMMARYBel-Air Centre, a ±439,551 square-foot, multi-tenant retail shopping center located in Detroit, Michigan. The retail center is currently 48% occupied with staggered leases and below market rents amongst most of the tenants. The center is comprised of a total of five buildings and one available outlot pad. The buildings include two inline strip buildings and three free-standing commercial buildings. Forman Mills, Romeo & Juliet Furniture, Bounce House, and Bel Air 10 Theater (the 4 largest tenants by SF) occupy a total of 162,705 square feet and constitute as 76% of the current occupancy of the shopping center. Constructed in 1985, the retail center sits on 44.048 acres in a densely-populated residential area and highly-developed commercial area, with daily traffic counts of over 72,000 vehicles per day. The site’s frontage and access is along Eight Mile Road. The property’s parking exceeds the number of required spaces, with 2,930 surface parking spaces. Bel Air centre represents an excellent value-add investment opportunity to enhance value through proactive management and lease up.

Property Name Bel-Air CentreProperty Address 8400 East Eight Mile Rd.

Detroit, Macomb County, MI 48234

Number of Buildings Five single-story buildingYear Built 1985 - 1988Gross Leasable Area (GLA) 439,551 SFLot Size 44.05 AcresParking Spaces +/- 2,930Occupancy 48%Anchor Tenant Forman Mills

THE OFFERING

SITE DESCRIPTION


5

PROPERTY DESCRIPTION

Property Address 8400-10100 East Eight Mile RoadDetroit, Wayne County, MI 48234

Number of Buildings Five single-story buildings Year Built 1985 - 1988Gross Leasable Area (GLA) 439,551 SFLot Size 44.05 AcresParking Spaces +/- 2,930Occupancy 48%

Site SummaryAccess Two main entrances from Eight

Mile Road and three additional access points off Eight Mile Road.

Utilities • Electricity – DTE Electric• Gas – Consumers Energy• Water/Sewer – City of Detroit

Monument & Pylon Signs Two pylon signs facing East Eight Mile Rd.

Foundation 5” reinforced concrete slab on-grade (ground floor) and metal/reinforced concrete floor deck

Framing System SteelExterior Walls Combination brick painted

concrete block, pre-cast concrete aggregate panels, tile and simulated stucco (dryvit) over insulation.

Roof Combination metal deck supported by open web steel joists or metal trusses and associated steel support systems, with combination single-ply EPDM rubber systems, and flat roof built-up low melt asphalt.

HVAC The units are cooled and heated by roof mounted, forced air electric units.

Electrical 220 volt single phase service. The suites are individually metered.

Construction Features


BEL-AIR CENTRE SITE PLAN

14 Gina’s Fashions 8,55016 Simply Fashions 3,30018 Gel Nails 2,53020 Bel Air Menswear 8,25022 King Dollar 3,30024 Footaction 5,42726 J&T Wireless (Metro PCS) 2,75028 Vacant 1,600

Unit Tenant Name SF 1 Vacant 48,7791A Vacant 48,7782 Bel Air 10 Theater 36,7264 Vacant 97,6026 H&R Block 2,7508 Vacant 2,20010 Vacant 6,60012 Vacant 3,043

30 Vacant 4,65734 US Armed Forces 2,20036 City of Detroit Police 2,75038 Secretary of State Michigan 3,30040 Vacant 4,95042 Vacant 8,55044 Bounce House KRT 26,00045 Romeo & Juliet Furniture 31,80046 Romeo & Juliet Furniture 21,50048 Forman Mills 46,679100 Swerve Mens Boutique 3,000100A Check ‘N Go 1,980 Totals 439,551

Not to Scale

OUTLOT

2

4

68121416182022

28

34

363840

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45

46

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age

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E EIGHT MILE ROAD

6

10

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1A


7

FINANCIAL SUMMARYInvestment Summary

Tenant Snapshot

Investment Highlights• Value-add opportunity through proactive management and lease-up.

• Stagerred leases in place amongst all the anchor tenants.

• Located in a highly-developed area with traffic counts of 72,000 VPD.

• Tenancy includes national credit retailers & businesses.

• Close proximity to new 163-acre commercial development site of the former Michigan State Fair Grounds.

• Forman Mills at this location is considered the best performing store throughout the region.

Gross Leaseable Area (GLA) 439,551SFOccupancy 48%Total Income $1,203,552 Total Expenses $260,362Net Operating Income (NOI) $943,190

Forman Mills 46,679 2/28/2021Romeo & Juliet Furniture

53,300 8/31/2018

Bel Air 10 Theatre 36,726 12/31/2018Bounce House 26,000 6/30/2017

Tenant Name Square Footage Expiration Date


10

Forman Mills is a chain of “Big Box” warehouse-style stores with 28 stores, serving communities in Philadelphia, Detroit, Baltimore, Delaware, New Jersey, Washington DC, Chicago, New York and their suburbs. www.formanmills.com

Romeo and Juliet Furniture is a family-owned company that started in 2003. Three furniture store locations that each sell different items and a discount household goods and food store. The largest furniture, mattress, and area rug store in the city of Detroit.www.romeosfurniture.com

Bel Air 10 Digital Theater – Detroit’s neighborhood theater. www.belair10theater.com

Bounce House provides indoor inflatable parties for kids and adults with 4 locations in Michigan.www.bouncehouseonline.com

Check ‘n Go is a leader in the consumer financial industry, providing instant online.www.checkngo.com

H&R Block is a tax preparation company in the United States, claiming more than 24.5 million tax returns prepared worldwide, with offices in Canada, Australia and Brazil.www.hrblock.com

TENANT PROFILES


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Footaction is a national athletic footwear and apparel retailer. The primary customers are young males that seek street-inspired athletic styles. Its 319 stores are located throughout the United States and Puerto Rico and focus on marquee footwear and branded apparel. www.footaction.com

MetroPCS (NYSE: TMUS) is a prepaid wireless service brand in the United States operated by T-Mobile US. MetroPCS offers nationwide Talk, Text and Data using T-Mobile’s GSM, HSPA+ and 4G LTE network.www.metropcs.com

Simply Fashions is a discount women’s clothing retailer based in Birmingham. The company sells most items for under $15 and targets African-American customers. It operates about 285 stores in 22 states, and is also the parent of Fashion Trend chain. www.simplyfashion.com

Secretary of State Michigan US Armed Forces City of Detroit Police

TENANT PROFILES


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BEL-AIR CENTRE SALES COMPS (ON THE MARKET)

Price $1,554,000Gross Leasable Area 34,524 SFPrice/SF $45.01Cap Rate 8.13%Occupancy 56%Year Built n/aLot Size n/a

Sales CompsFAMILy DOLLAR CENTER37531 HarperClinton Township, MI 48036

Price $3,200,000Gross Leasable Area 28,000 SFPrice/SF $111.11Cap Rate 6.24%Occupancy 100%Year Built 2003Lot Size 5.06 AC

LIgHTHOuSE POINTE4175a 24th AveFort Gratiot, MI 48059


FOuNTAINvIEw PLAzA19213 - 19241 Newburgh RdLivonia, MI 48152

Price $1,249,000Gross Leasable Area 24,716 SFPrice/SF $50.53Cap Rate 8.01%Occupancy 81.1%Year Built 1987Lot Size 2.30 AC

NORTHgATE PLAzA3900 Pine Grove AveFort Gratiot, MI 48059

Major Retail in the Area

Source - CoStar, Loopnet


13

MARKET OVERVIEWLOCATION Bel-Air Centre is located on the south side of East Eight Mile Road at the northern most quadrant of Wayne County at the border of Macomb County. The site is conveniently positioned within a few miles of the area’s major expressways: I-75, I-94 and I-696. The center sits in a highly-concentrated residential area between Groesbeck Highway (M-97) and Van Dyke Avenue, with a population of over 127,000 residents within a 3-mile radius. East Eight Mile Road is a highly-developed commercial thoroughfare, with an overall daytime employment of over 47,000 employees within a 3-mile radius. Most notably, the Daimler-Chrysler-Warren Truck Plant is located along East Eight Mile Road less than a mile of the center.

ECONOMYDespite Detroit’s recent financial issues, many developers remain unfazed by the city’s problems. Developers such as Quicken Loans CEO Dan Gilbert “seems as eager as ever to pick up, develop and promote commerce at properties in the resurgent core”. Midtown Detroit is one of the most successful areas of Detroit with a residential occupancy rate of 96%. Numerous developments are currently in various stages of construction, including an $82 million reconstruction of the David Whitney Building in downtown Detroit & the Woodward Garden Block Development in Detroit’s midtown area. Downtown Detroit’s population of young professionals is growing and retail is expanding. A number of luxury high rises have been built. The east river development plans include more luxury condominium developments. This dynamic is luring many younger residents to the city’s Downtown along with the revitalized Midtown and New Centerareas.

On June 5, 2013, Whole Foods Market opened its first store in the city of Detroit. Eight weeks later the CEO of Whole foods said that the store was exceeding its wildest expectations. On July 25, 2013, Meijer, a midwestern retail chain, opened a 20 million dollar store in the northern part of the city that is part of a new 72 million dollar shopping center named Gateway Plaza.

POPULATION/ DEMOGRAPHICSDetroit is the largest city in the state of Michigan and the seat of Wayne County. Detroit is a major port city on the Detroit River where it shares an international shipping channel with Windsor Ontario, Canada. In 2010, the city had a population of 713,777 and ranked as the 18th most populous city in the United States. The Detroit–Windsor area, a critical commercial link straddling the Canada–U.S. border, has a total population of about 5,700,000.

Skyline of Detroit, MI

Population 3,783 42,580 150,666Households 1,853 18,882 64,000Average HH Income $70,510 $80,949 $66,975Per Capita Income $34,537 $36,180 $29,252

1 mile 3 mile 5 mile

Source - Wikipedia, Loopnet


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The CenTer Of SheffieldPrOPerTY SUMMArYThe Center Of Sheffield is a 190,094 SF retail strip center located in Lorain, Ohio. Sheffield is a village in Lorain County, Ohio, in northeastern Ohio which is 25 miles west of downtown Cleveland. The center is located in a primary regional commercial thoroughfare and three miles from Midway Mall, the only mall in Lorain, OH. It’s also located within minutes of State Route 57 (15,000+ VPD), a main thoroughfare in the market area, and less than two miles from I-90 (18,800+ VPD). The Center of Sheffield is currently 71 percent leased with a strong mix of national and local tenants such as Apple’s Grocery (Top’s Market), Dollar General, H&R Block, Boost Mobile, and Buckeye Community Bank. The Center of Sheffield offers an investor the opportunity to acquire a asset with a strong and stable in place income with the opportunity to improve their financial return by leasing-up the remaining 29% vacancies.

Property Name The Center of SheffieldProperty Address 400 Sheffield Center

Lorain, OH 44055

Number of Buildings Six (1) story buildingYear Built 1954, 1987, 1990, and 1995Gross Leasable Area (GLA) 190,025 SFLot Size 35.81 AcresParking Spaces 622Occupancy 71%Anchor Tenant Apple’s Grocery

The OfferinG

SiTe deSCriPTiOn


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Property Address 400 Sheffield CenterLorain, OH 44055

Number of Buildings Six (1) story buildingYear Built 1954, 1987, 1990, and 1995Gross Leasable Area (GLA) 190,025 SFLot Size 35.81 AcresParking Spaces 622Occupancy 71%

Site SummaryAccess Ingress and egress to the property

is provided by two curb cuts along N. Ridge Rd

Utilities • Electricity – Ohio Edison• Gas – Columbia Gas• Water/Sewer – Lorain, Ohio Utilities Department

Monument & Pylon Signs One pylon sign facing N. Ridge Rd.

Electrical Several pad-mounted transformers throughout the property



THE CENTER OF SHEFFIELD SITE PLAN

18

1

N RIDGE RD

SHEFFIELD

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10A

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Unit Name SF 1 Buckeye Bank 9,000 2 Vacant 8,400 3 Sheffield Café 6,500 4 Boost Mobile 1,5004A Vacant 1,100 5 Vacant 3,051 6 Vacant 5,000 7 Vacant 2,400 8 Vacant 9,000 9 Vacant 1,264 10 H&R Block 2,10010A H&R Block (Storage) 50012 Dollar General 8,000 13 Vacant 7,120 14 Vacant 1,87515 Vacant 1,26016 Vacant 2,24017 Vacant 1,361Storage 1 Vacant 7,500 Storage 2 Vacant 4,100 18 Conrad’s Tire Service 5,200 19 Apple’s Market 66,12020 Marc’s 35,000 Totals 190,025

1615

14

13

17

19

16

Storage 2

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87

Storage 1

3 42 5 6

Vacant Land

Vacant

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FINANCIAL SUMMARY

Gross Leaseable Area (GLA) 190,025 SFOccupancy 71%Total Income $1,120,662Total Expenses $220,500Net Operating Income (NOI) $900,162

Investment Summary

Apple’s Market 66,120 8/31/2017Marc’s 35,000 7/31/2016Buckeye Bank 9,000 8/31/2019Dollar General 8,000 6/31/2015

Tenant Snapshot Tenant Name Square Footage Expiration Date

Investment Highlights• The Center Of Sheffield a ±190,025 SF square-foot, multi-tenant retail shopping

center located in Lorain, Ohio.

• Strong Anchor tenants Apple’s Market (tenant since 1986) and Marc’s (tenant since 1991). Both tenants draw constant traffic to the Center.

• Strong mix of national and local tenants with staggered lease expirations in place. Tenants are paying below market rents.

• It’s also located within minutes of State Route 57 (15,000+ VPD), a main thoroughfare in the market area, and less than two miles from I-90 (18,800+ VPD)

• Significant Value-Add Opportunity: Lease up of the remaining 55,605 SF of vacant space.


20

Apples is your locally owned, neighborhood supermarket founded in 1979 where it’s been a part of Lorain County since. They do their best to support other Ohio businesses-such as Ballreich and Dan Dee potato chips-by selling their products in the store. Whenever possible, the produce department is stocked with fresh produce from local farms so you get the freshest and best tasting product around. If you are feeling nostalgic and are looking for that delicious ice cream you remember from yesteryear, try one of the Ohio-based ice cream brands such as Toft’s, Smith’s, Ruggles, Pierres, or Velvet!www.applesmarket.com

Dollar General (NYSE: DG) is the largest discount retailer in the United States by number of stores with over 10,700 neighborhood stores in 40 states.www.dollargeneral.com

Buckeye Community Bank was established in October 12, 1999. The Bank is headquartered in and operates fromn one office in Lorain, OH. As of Dec. 31, 2013, Company reported $150.4 million in assets and consolidated common equity of $10.9 million, or $11.22 per share (Company has 962,150 shares of common stock outstanding). Their net income equaled $633,000 or $0.66 per share. www.buckeyebank.com

Marc’s is a discount drugstore-and-grocery chain, with stores in northern and central Ohio. Marc’s now operates over 60 grocery stores throughout the Cleveland, Akron, Canton, Youngstown and Columbus region, as well as 4 Xpect Discounts stores in Connecticut. www.marcs.com

Boost Mobile is a brand for prepaid wireless service used by two independent operators in Australia and the United States. In the United States, Boost Worldwide, Inc. is a subsidiary of Sprint Corporation. In Australia, Boost Tel Pty Ltd. operates as a MVNO using the Telstra network. www.boostmobile.com

TENANT PROFILES


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THE CENTER OF SHEFFIELD SALES COMPS (ON THE MARKET)


Sales CompsDOwNTOwN COMMONS405 West 4th StreetLorain, OH 44052


MIDwAy CROSSINg1511-1599 West River Road Elyria, OH 44035

Price $2,950,000Gross Leasable Area 36,516 SFPrice/SF $80.79Cap Rate 8.75%Occupancy 72%Year Built n/aLot Size 3.82 AC

BENTLEy COE PLAzA24101 Lorain RoadNorth Olmsted, OH 44070

Price $11,670,000Gross Leasable Area 84,758 SFPrice/SF $137.69Cap Rate 8%Occupancy 98%Year Built 1991Lot Size 7.69 AC

SHOPPES AT CHAPEL HILL581 Howe AvenueCuyahoga Falls, OH 44223




22

MARKET OVERVIEWLOCATION Lorain is a city in Lorain County, Ohio, United States. The municipality is located in northeastern Ohio on Lake Erie, at the mouth of the Black River, about 30 miles west of Cleveland.

Ford Motor Company had the Lorain Assembly Plant in the city, mostly known for assembling the Ford Econoline (E-series) van, Ford Torino and Mercury Montego, and beginning in 1975 the Ford Thunderbird and Mercury Cougar (through 1997); the plant ceased all production on December 14, 2005 because the UAW and Ford management were unable to come to terms on a new contract. The sprawling United States Steel Mill, portions recently acquired by Republic Steel, stretches for nearly 3 miles on the city’s south side. These mills have operated in the city since 1895 and continue to employ thousands of local residents. Though the blast furnaces were idled in late 2008, Republic announced in December 2011 that they would be building electric arc furnaces to once again make steel in Lorain.

ECONOMYAs one of Ohio’s largest counties, Lorain County is the ideal place to locate your business. Major U.S. interstates, such as I-80/90 and I-480, offer easy access to the entire region. The county also utilizes full service CSX and Norfolk Southern railroads, the Lorain County Regional Airport and a fully functioning deep-water port in Lorain.

Many different kinds of companies are currently growing and thriving in Lorain County. The world headquarters for Invacare Corporation – the leading manufacturer of medical equipment, is located in the Lorain County seat of Elyria. Other large businesses which call Lorain County home include Parker-Hannifin Corp., Bendix Commercial Vehicle Systems, Nordson Corp., PolyOne Corp., Mercy Regional Medical Center, EMH Regional Medical Center, Republic Engineered Products, Emerson, and the Ford Motor Company.

POPULATION/DEMOGRAPHICSAs of the 2010 census, the city had a total population of 64,097, making it Ohio’s tenth largest city.





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EASTRIDGE COMMONS PROPERTY SUMMARYEastridge Commons is a 287,453 square foot regional shopping center situated on 29 acres of land. The subject offering was built in 1990 and consists of 169,676 square feet of owned retail on 15 acres, and is shadow anchored by Target (117,777 SF). The site contains three stand-alone retail buildings: the largest of the three buildings contains a Target Store and a currently vacant tenant space (approximately 72,334 SF) formerly occupied by Farmer Jack grocery store. The second building contains 10 tenant spaces with a total of 88,154 square feet of leasable space. The third building is a multi-tenant outlot building containing 5 tenant spaces totaling 9,188 square feet of leasable space. There is one additional outlot on the southeast corner of the subject property featuring a Bob Evans restaurant. The Target and freestanding outlot is separately owned and are not included in this offering. Eastridge Commons represents a tremendous value-add opportunity through leasing up the remaining 95,401 SF of vacant space.

Property Name Eastridge CommonsProperty Address 3753 Lapeer Road

Flint, Genesee County, MI 48503

Number of Buildings Three single-story buildings Year Built 1973Gross Leasable Area (GLA) 169,676 SF (287,453 SF incl Target)Lot Size 15 Acres (29 AC including Target)Parking Spaces +/- 717 (1,237 including Target)Occupancy 44% (not including Target)Anchor Tenant TJMaxx (Target shadow anchor)

THE OFFERING

SITE DESCRIPTION


24


Property Address 3753 Lapeer RoadFlint, Genesee County, MI 48503

Number of Buildings Three single-story buildings Year Built 1973Gross Leasable Area (GLA) 169,676 SF (287,453 SF incl Target)Lot Size 15 AC (29 AC including Target)Parking Spaces +/- 717 (1,237 including Target)Occupancy 44%


is provided by one curb cut along Center Rd and two curb cuts along Lapeer Rd.

Utilities • Electricity – Detroit Edison• Gas – Consumers Energy• Water/Sewer – City of Flint

Monument & Pylon Signs One pylon sign is located near Center Rd.

Foundation Steel-framed structures constructed of metal deck, steel joists, and structural steel beams and columns.

Framing System SteelExterior Walls Double-pane glass, regular CMU

walls, or surfaced with brick veneer or dryvit facade.

Roof Small Shops: EPDM – Ballast Vacant Anch: EPDM fully adhered Target: White reinforced

HVAC Cooling system of the tenant spaces is typically provided by packaged, self-contained rooftop units and added split systems over some of the smaller tenants’ roofs.

Electrical The anchor store is provided with 1,000 to 1,500 amp service and each of the small stores are provided with 100-amp service.



EASTRIDGE COMMONS SITE PLAN

Not to Scale

Vacant

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INTERSTATE 69

Unit Tenant Name SF A100 SVS Vision 1,200A102 City Nails 1,200A104 China One 1,200A106 Cash Store 1,200A108 Rent-A-Center 4,388B100 Party City 8,183B102 Vacant 6,500B104 Dollar Tree 9,182C100 Vacant 4,796C102 Shoes 4 Less 2,084C104 Vacant 3,421C106 Vacant 5,417C108 Vacant 2,933MAJ-A Sports Complex 20,779MAJ-B TJ Maxx 24,859MAJ-C Vacant 72,334MAJ-D Target (shadow) 117,777 Totals 169,676 Total with Target 287,453

Signage

25

C10

2


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FINANCIAL SUMMARY

Gross Leaseable Area (GLA) 169,676 SFOccupancy 44%Total Income $897,595Total Expenses $177,383Net Operating Income (NOI) $720,212

Investment Summary

TJ Maxx 24,859 1/31/2016Dollar Tree 9,182 4/30/2016Party City 8,183 1/31/2015Rent-A-Center 4,388 1/31/2017


Investment Highlights• Eastridge Commons is a validated retail location featuring a robust mix of national specialty retailers including

TJ Maxx, Dollar Tree, Party City, Rent-A-Center, and Target (shadow-anchor).• Majority of the tenants within the center have experienced strong sales performance since inception.• Positioned with excellent visibility along Interstate 69, located at the “main and main”

interchange of the Burton regional trade area serving the east side of Flint.• Located across from Courtland Center, a 472,000 SF regional enclosed mall anchored by JC

Penny, Staples, Jo-Ann Superstore, and Dunham’s Sports• Big box retailers in immediate area include Walmart Superstore, Home Depot, Lowe’s,

K-Mart, and Office Max• The area surrounding Eastridge Commons features a dense, infill demographic profile:

within a five-mile radius, there are 148,935 residents with an average household income of over $48,000.


29

T.J. Maxx, sometimes referred to as TJ’s or the Maxx, is an American department store chain owned by TJX Companies. With more than 1,000 stores, T.J. Maxx is a major clothes retailer in the United States. The company is part of the TJX Companies (NYSE: TJX).www.tjmaxx.tjx.com

Dollar Tree (NSDQ: DLTR) is an American chain of discount variety stores that sells items for $1. A Fortune 500 company, Dollar Tree operates 4,763 stores throughout the 48 contiguous U.S. states and Canada.www.dollartree.com

Party City is the leader in the party goods industry. The company is America’s largest specialty party goods chain and the country’s premiere Halloween specialty retailer. Party City operates more than 800 company-owned and franchise stores throughout the U.S. and Puerto Rico.www.partycity.com

Rent-A-Center (NSDQ: RCII) provides furniture, electronics, computers and household appliances available under rent-to-own agreements. As of 2011, it operated approximately 3,074 company-owned stores in the United States, Canada, Puerto Rico, and Mexico. As of 2012, the company reported 2.9 billion in sales.www.rentacenter.com

SVS Vision is a optical center with over 50 locations in 10 states. SVS Vision has grown from a single location in Sterling Heights, MI to one of the largest regional chains in the Midwest. www.svsvision.com

Cash Store is a lending company offering cash advances. The company has over 320 locations throughout Idaho, Illinois, Michigan, New Mexico, Texas, Utah, and Wisconsin. www.cashstore.com

TENANT PROFILES


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EASTRIDGE COMMONS SALES COMPS (ON THE MARKET)

Price $1,545,000Gross Leasable Area 24,238 SFPrice/SF $63.74Cap Rate 9.65%Occupancy 100%Year Built 1971Lot Size n/a

Sales CompsSAvE-A-LOT PLAzA2918 Flushing RoadFlint, MI 48504


vALLEy PLAzA SHOPPING CENTER4205-4215 & 4225 Miller RoadFlint, MI 48507

Price $1,430,000Gross Leasable Area 12,000 SFPrice/SF $119.17Cap Rate 9%Occupancy 100%Year Built 1.60 ACLot Size n/a

PARKPLACE4230 Miller RdFlint, MI 48507

Price $7502,000Gross Leasable Area 10,150 SFPrice/SF $73.89Cap Rate 6.6%Occupancy 38%Year Built 2.06 ACLot Size n/a

ELMS ROAD SquARE1072 S Elms RdFlint, MI 48532




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MARKET OVERVIEWLOCATION Eastridge Commons is one of two major regional shopping centers serving the eastern Flint trade area and is positioned in the best regional location of competitive centers in the trade area given its strong access adjacent to a full interchange with Interstate 69. The subject property is located across from the Courtland Center, a 472,000 square foot regional enclosed mall anchored by J.C. Penney, Staples, Jo-Ann Superstore, and Dunham’s Sports. The eastern Flint trade area is 86% leased and consists of over 1.6 million square feet of retail space, primarily consisting of big box retailers including Walmart Supercenter, Home Depot, Lowe’s, VG Grocery, K-Mart, Kroger, and Office Max. There are numerous single tenant centers that are clustered around Center Road and Court Street. The majority of competition is smaller in comparison and does not have the tenant mix and drawing power of the subject property.

POPULATION/ DEMOGRAPHICSFlint is a city in the U.S. state of Michigan, located along the Flint River, 66 miles northwest of Detroit. According to the 2010 census, Flint has a population of 102,434, making it the seventh largest city in Michigan. Flint is in the county seat of Genesee County in the Flint/Tri-Cities region of Michigan. Genesee County comprises the entirety of Flint’s metropolitan area, the fourth largest metropolitan area in Michigan with a population of 425,790 in 2010.

Historically the city’s landscape and culture has been dominated by the auto industry. Over the past ten years, the city has been concentrating its efforts to de-industrialization by focusing on diversifying the economy through attracting small parts manufacturers with vacant industrial space and providing tax incentives to steer the city toward a more commercially driven economy. Flint has over time absorbed the impact of the large scale General Motors de-industrialization plan. General Motors is the largest employer in the county and in 2004 made multi-million dollar upgrades to three Flint factories: Flint Truck and Bus Assembly, Flint Metal Center, and Flint Engine South. In addition to General Motors, other dominant employers in the City of Flint include Citizens Banking Corp., Delphi, Genesys Health System, Hurley Medical Center, Mclaren Health Care Corporation. City of Flint, Flint Community Schools, Bank One, and The Flint Journal. Flint is also home to several universities, including University of Michigan-Flint (8,138 students), Mott Community College (10,456 students), and Kettering University (1,922 students).

City of Flint, MI





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LAFAYETTE CENTER PROPERTY SUMMARYLafayette Center is a 116,260 square feet community shopping center on approximately 11.22 acres of land. Anchored by Value City Furniture, this community shopping center is 8 % occupied. In addition to the prominent national tenant, Value City Furniture, Lafayette Center enjoys a diverse line-up of many local neighborhood tenants. The Property contains approximately 19 in-line retail tenants of which seven 4 are currently vacant. Lease-up of the 1 square feet of vacant suites will allow an investor to significantly increase its yield.

Property Name Lafayette CenterProperty Address 4213-4281 Lafayette Road

Indianapolis, Marion County, IN 46254

Number of Buildings Three single story buildingsYear Built 1969Gross Leasable Area (GLA) 116,260 SF Lot Size 11.22 AcresParking Spaces +/- 337Occupancy 8 %Anchor Tenant Value City Furniture

THE OFFERING

SITE DESCRIPTION


33


Property Address 4213-4281 Lafayette RoadIndianapolis, Marion County, IN 46254

Number of Buildings One single-story buildings Year Built 1969Gross Leasable Area (GLA) 116,260 SF Lot Size 11.22 AcresParking Spaces +/- 337Occupancy 8 %

Site SummaryAccess One signalized access point onto

Lafayette Road at the center of the property. Two right-in / right-out access points onto Lafayette Road north of the signalized intersection.

Utilities • Electricity – Indianapolis Power and Light/ Coke Utility • Gas – Citizens Gas

Monument & Pylon Signs One pylon sign facing Lafayette Rd.

Foundation Concrete slab-on-grade with one-story steel-framed superstructure and painted or split-face concrete masonry unit.

Framing System SteelExterior Walls Concrete Masonry Unit (CMU)Roof Consist of a wearing layer over

a built-up system supported by metal decking. The wearing layers on the subject building consist of ballasted EPDM roofing membranes.

HVAC Consists of split system roof-mounted packaged units with electrical air-conditioning condensing units and natural gas heating units.



LAFAYETTE CENTER SITE PLAN

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Unit TenantName SF 4213 India Palace 9,6204225 New India Plaza 18,5644233 Value City Furniture 40,0004233A Vacant 5,0004235 DJ Beauty Supply 14,0004241 International Braiding 1,2184243 Troutman Barber & Beauty 1,0374245 Liberty Tax Services 1,2004247 MW Staffing 1,4854249 Vacant 1,4404251 African Market 1,4554253 Shag II Chic Salon 1,3704255 Titan Agency 1,3124257 Vacant 1,3444259 Jiallo’s 1,3444261 Catering Company 4,0844267 Vacant 1,3444269 Vacant 6,7434279 Law Offices of Frank Hanley 3,700 Totals 116,260

4213

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35

FINANCIAL SUMMARY


Investment Summary

Value City Furniture 40,000 4/30/2017New India Plaza 18,564 9/30/2018DJ Beauty Supply 14,000 7/31/2017


Investment Highlights• Anchored by Value City Furniture, this community shopping center is 86% occupied.• Located at the eastern corner of Lafayette Road and Office Plaza Boulevard – 6 miles northwest of

downtown Indianapolis, Indiana.

• Five mile demographics feature a dense population of 215,904 people and an average household income of $58,559 within five miles.

• 76,910 average vehicles per day on I-65

• Interstate 65 is within a quarter mile of the center

• Lafayette Center enjoys a diverse tenant line-up featuring prominent national tenant Value City Furniture and many local neighborhood tenants.

• Value City Furniture has been a tenant at the center since 1975.

• Lease-up of the 15,871 square feet of vacant suites.


3

Value City Furniture is an American discount department store chain with 113 locations. The store was an off-price retailer that sold clothing, jewelry, and home goods. www.valuecityfurniture.com

India Plaza serves high quality Indo-Pak, Middle Eastern groceries and gifts for over 25 years.www.omindiaplaza.com

India Palace is a privately owned authentic Indian restaurant in business since 1994. www.indiapalaceindy.com

Liberty Tax Service is the fastest growing tax preparation franchise business with over 4,000 offices in the US and Canada.www.libertytax.com

DJ Beauty Supply sells a large selection of beauty supplies from makeup to wigs, and much more.

Resource Employment Solutions is a temporary staffing agency offering employment services; including flex staff, flex labor, HR Consulting, and vendor management with 22 regional offices.

International Braiding is a locally owned hair salon.

African & Caribbean Market is a locally owned specialty grocer.

Chic Salon is a beauty salon that specializes in total hair care, sew-ins, color, cuts, and much more.

Jiallo’s is a African-Caribbean cuisine restaurant

Law Offices of J. Frank Hanley II is a social security disability attorney serving the Indianapolis area for over 40 years

TENANT PROFILES


3

LAFAYETTE CENTER SALES COMPS (ON THE MARKET)

Price $5,500,000Gross Leasable Area 66,470 SFPrice/SF $82.74Cap Rate 7.51%Occupancy 100%Year Built n/aLot Size n/a

Sales CompsWESTgATE PLAzA5100 W Washington StIndianapolis, IN 46241


SHOPS AT 38TH & MERidiAN3787 N Meridian StIndianapolis, IN 46208


gREENWOOd POiNT SHOPPiNg U.S. 31 South & Stop 11 RoadIndianapolis, IN 46227

Price $1,750,000Gross Leasable Area 18,000 SFPrice/SF $97.22Cap Rate 9.07%Occupancy 82%Year Built 1987Lot Size n/a

KEYSTONE WAY CENTRE3141 E 96th StIndianapolis, IN 46240



MARKET OVERVIEWLOCATION The subject asset is located at the eastern corner of Lafayette Road and Office Plaza Boulevard - 6 miles northwest of downtown Indianapolis. The area is a mature, commercial area with Lafayette Square Mall located immediately south of the subject and a dense single-family and multi-family housing beyond. Lafayette Road is a local road connecting northwestern neighborhoods of Indianapolis with downtown Indianapolis. Interstate 65 (76,910 vehicles per day) is located less than a quarter mile east of the subject property (an interchange is located three quarters of a mile north) while interchange 465 (a ring highway circumnavigating Indianapolis) is located less than two miles west of the subject. The Indianapolis Motor Speedway (Indy 500 & NASCAR) is located two miles south of Lafayette Center.

ECONOMYThe largest industry sectors by employment in Indianapolis are manufacturing, health care and social services, and retail trade. Compared to Indiana as a whole, the Indianapolis metropolitan area has a lower proportion of manufacturing jobs and a higher concentration of jobs in wholesale trade; administrative, support, and waste management; professional, scientific, and technical services; and transportation and warehousing.

Many of Indiana’s largest and most recognized companies are headquartered in Indianapolis, including pharmaceutical manufacturer Eli Lilly and Company; wireless distribution and logistics provider Brightpoint; health insurance provider Wellpoint; retailers Marsh Supermarkets, Finish Line, hhgregg Inc., and REIT Simon Property Group.

In 2010, Indianapolis was rated the tenth best city for relocation by Yahoo Real Estate, and tenth among U.S. metropolitan areas for GDP growth. In 2011, Indianapolis ranked sixth among U.S. cities as a retirement destination, as one of the best Midwestern cities for relocation, best for rental property investing, and best in a composite measure that considered local employment outlook and housing affordability. A 2013 analysis by site selection consulting firm The Boyd Company, Inc. ranked Indianapolis as the most cost competitive market for corporate headquarters facilities in the United States.

POPULATION/ DEMOGRAPHICSIndianapolis is the capital city and most populous city of Indiana, also the County seat of Marion County. Indianapolis is the 13th largest city and the 29th largest metropolitan area in the US. Greater Indianapolis has seen moderate growth among U.S. cities. As of the 2010 census, the city’s population was 829,718.

City of Indianapolis, IN





4

LENOX SQUARE SHOPPING CENTER PROPERTY SUMMARYThe subject property is a 92,507 square foot retail strip center anchored by Family Farm & Home, a growing company specializing in tools, hardware, farm supplies, horse and livestock feed, dog, cat, and bird food, lawn care and much more. The property is on two parcels that total 11.4 acres and about 370 parking spaces. The center is 65% occupied with a mix of national and local tenants. Tenants include Dollar General, Jet’s Pizza, UFC of Richmond, and Prestige Portraits. The property benefits from its location on Gratiot Avenue located less than 1 mile from Richmond’s historical downtown. The property also shares a parking lot with a stand alone Rite Aid store, increasing foot traffic in Lenox Square. There are two strip centers in the immediate area that add traffic to the area, one is a K-Mart anchored shopping center and the other is a Kroger anchored center. Lenox Square present an investor with the opportunity to acquire a strong cash flowing asset with a strong anchor tenant in place while having the oppurtunity to significantly increase value by leasing the remaing 32,299 SF of vacant space.

Property Name Lenox Square Shopping CenterProperty Address 66751-66901 Gratiot Avenue

Richmond, Macomb County, MI 48062

Number of Buildings One single-story buildingYear Built 1970 - 1978Gross Leasable Area (GLA) 92,507 SF Lot Size 11.4 AcresParking Spaces +/- 373Occupancy 65%Anchor Tenant Family Farm & Home

THE OFFERING

SITE DESCRIPTION


4


Property Address 66751-66901 Gratiot Avenue Richmond, Macomb County, MI48062

Number of Buildings One single-story buildings Year Built 1970 - 1978Gross Leasable Area (GLA) 92,507 SF Lot Size 11.4 AcresParking Spaces +/- 373Occupancy 65%


is provided by one curb cuts along Gratiot Ave and two curb cuts along 31 Mile Rd.

Utilities • Electricity – Detroit Edison• Gas – Southeast Michigan Gas Company• Water/Sewer – City of Richmond

Monument & Pylon Signs One pylon sign facing Gratiot Ave.Foundation Reinforced concrete slabFraming System Masonry block constructionExterior Walls Masonry block, brick and sidingRoof The roofs consist of pitched

areas with metal and flat areas consisting of ballasted rubber membrane and modified bitumen. The roof is sloped to direct storm water to drains that discharge into the city sewer system and property grounds.





Signage

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LENOX SQUARE SITE PLANSuite Tenant Name SF 1 Steel City 7,8502 Vacant 3,2643 Vacant 3,2404 Jet's Pizza 1,4005 Vacant 1,8906 Prestige Portraits 2,4967 Vacant 4,0718 Vacant 1,5969 Vacant 1,63210 Vacant 1,68111 Vacant 3,24412 Tip & Toes Nail Spa 1,64513 Vacant 4,95014 Vacant 5,41615 Vacant 1,31516 Family Farm & Home 37,99717 Dollar General 8,820 Totals 92,507

4

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3


4

FINANCIAL SUMMARY


Investment Summary

Family Farm & Home 37,997 1/31/2020Dollar General 8,820 2/28/2015Steel City 7,850 2/28/2017


Investment Highlights• 92,507 Square Foot Retail Strip Center Anchored by Family Farm & Home• 65% Occupied with a Mix of National & Credit Tenants• Value-Added Opportunity: Leasing Upside• Strong Anchor and Junior Anchor Tenants• Less than 1 Mile From Downtown Richmond• Shared Parking Lot With a Free Standing Rite Aid Store• Property is situated on two parcels totaling 11.4 acres and provides 373 parking• K-Mart & Kroger Anchored Strip Centers in the Immediate Area


4

Family Farm and Home is a family owned and operated company based out of Michigan with 20 stores. Family Farm and Home is a supplier of a wide variety of products in departments such as tools, hardware, automotive, pet, work and casual clothing, footwear, farm supplies, horse and livestock feed, bird food, lawn and garden, and alternative heating. www.familyfarmandhome.com


Steel City Gym is Richmond’s first and only full-service gym.

Jet’s Pizza is the 12th largest pizza chain in the nation, by sales, with over 300 locations throughout 16 states. www.jetspizza.com

TENANT PROFILES


4

LENOX SQUARE SALES COMPS (ON THE MARKET)


Sales CompsRiTE Aid66711 Gratiot AveRichmond, MI 48062


STONEgATE COMMONS37531-37605 Harper RdClinton Township, MI 48036

Price $3,775,000Gross Leasable Area 9,580 SFPrice/SF $394.05Cap Rate 7.78%Occupancy 100%Year Built 2006Lot Size 1.49AC

HALL ROAd RETAiL CENTER20739-20761 Hall RdMacomb, MI 48044



4

MARKET OVERVIEWLOCATION Lenox Square Shopping Center is situated at the southwest corner of the intersection of Gratiot Avenue and 31Mile Road (also known as Hart Road) just west of County Line Road and less than a mile from Richmond’shistoric downtown. Gratiot Avenue (M-19) is a major thoroughfare in Macomb County which connects thecounty’s cities to their neighboring communities and major metropolitan areas. Lenox Square Shopping Center is 5 miles west of Interstate 94, a major freeway in Southeastern Michigan, and within 13 miles west of Van Dyke Avenue (M- 53), also a major thoroughfare in Macomb County. Other properties immediately surrounding the center include a Lutheran school/church and a Kmart anchored center to the north, a Kroger-anchored center just east of the subject site on Gratiot Avenue, and a Rite-Aid to the south, which is a pad site adjacent to the Property.

ECONOMYManufacturing is Macomb County’s leading industry, employing roughly onethird of the workforce. Macomb County is the ideal location for many of the nation’s leading manufacturers because they recognize the business environment, quality infrastructure, and productive workforce. Additionally, Macomb County serves as the headquarters for the U.S. Army Tank-Automotive and Armaments Command, known as TACOM, with Selfridge Air National Guard Base in Harrison Township near The City of Mount Clemens.

POPULATION/ DEMOGRAPHICSThe population of Richmond was 5,735 at the 2010 census. Most of the city is located in Macomb County, though there is a small portion in St. Clair County.

Macomb County in located in southeastern Michigan, and comprises the north-eastern portion of the Detroit Metropolitan area. The county ranks third in both population and State Equalized Value of all 83 Michigan counties. With over 788,000 people living in the county’s 27 municipalities.

City of Richmond, MI





GALLIA STREET SHOPPES PROPERTY SUMMARYGallia Street Shoppes is a 79,808 square foot neighborhood grocery anchored shopping center situated on 9.30 acres of land. The subject offering was built in 1966 and is anchored by Big Lots. Gallia Street Shoppes also features several strong national and regional tenants such as Taco Bell (ground lease), Family Dollar, and Save A Lot. The site contains three retail buildings: the largest contains three in-line tenants consisting of Big Lots, Family Dollar, and Save-A-Lot while the second and third buildings are single tenant outlot buildings. The center is located in a mature area with tropical features in the surrounding area presenting significant barriers to entry.

Property Name Gallia Street ShoppesProperty Address 2507-314 Gallia Street,

Portsmouth, Scioto County, OH

Number of Buildings Three single story buildingsYear Built 1966Gross Leasable Area (GLA) 79,808 SF Lot Size 9.3 AcresParking Spaces +/- 237Occupancy 93%Anchor Tenant Big Lots

THE OFFERING

SITE DESCRIPTION


5


Property Address 2507-314 Gallia Street, Portsmouth, Scioto County, Ohio45662

Number of Buildings Three single-story buildings Year Built 1966Gross Leasable Area (GLA) 79,808 SF Lot Size 9.3 AcresParking Spaces +/- 237Occupancy 93%


is provided by three curb cuts along Gallia St. and two curb cuts along Mabert Rd.

Utilities • Electricity – AEP• Gas – South Shore Gas & Oil Columbia Gas of Ohio• Water – Portsmouth Water Works• Sewer - City of Portsmouth

Monument & Pylon Signs One pylon sign facing Gallia St.Foundation Steel-framed structures

constructed of metal deck, steel joists, and structural steel beams and columns.

Framing System SteelExterior Walls Concrete Masonry Unit (CMU)Roof The roof systems consist of a

wearing layer over a built-up system supported by metal decking. The wearing layers on the subject building consist of ballasted EPDM roofing membranes.

HVAC Consists of split system roof-mounted packaged units with electrical air-conditioning condensing units and natural gas heating units.


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GALLIA STREET SHOPPES SITE PLAN

GALLIA STREET

Unit Name SF 2507 Save A Lot 15,0002519 Family Dollar 8,5202523 Big Lots 47,3402551 SpeeDee Motor 1,200314 Vacant 5,248Outlot Taco Bell 2,500 Totals 79,808

5


5

FINANCIAL SUMMARY


Investment Summary

Big Lots 47,340 1/31/2017Save A Lot 15,000 8/31/2017Family Dollar 8,520 12/31/2014Taco Bell 2,500 8/28/2019


Investment Highlights• Gallia Street Shoppes is a grocery anchored center in a mature area with

significant barriers to entry.

• Gallia Street Shoppes is located in a mature area with significant barriers to entry.

• Gallia Street (US Route 52) is a major east-west orientated highway that follows the Ohio River.

• Gallia Street Shoppes features several strong national and regional tenants in Big Lots, Taco Bell, Family Dollar, and Save-A-Lot.

• Big Lots, Taco Bell, and Family Dollar feature investment grade credit.

• Taco Bell is on a ground lease and recently exercised a 5 year option.


5

Save-a-Lot is a discount supermarket chain headquartered in Earth City, Missouri, near St. Louis, United States. The subsidiary of SuperValu (NYSE: SVU) comprises approximately 1,250 stores in the United States with over $4 billion in annual sales. www.save-a-lot.com

Family Dollar (NYSE: FDO) is a regional chain of variety stores in the United States with approximately 7,100 stores in 45 states and the District of Columbia. With most locations set up like a typical supermarket, the chain deals in food items, clothing and assorted household products. www.familydollar.com

Big Lots (NYSE: BIG), a Fortune 500 company, is a closeout retail chain in the United States that sells discounted merchandise such as food, cosmetics, plastics, home decor, toys, lawn and garden items, apparel, and small electronics, among others. Big Lots, Inc. operates throughout the United States and is based in Columbus, Ohio.www.biglots.com

Taco Bell is an American chain of fast-food restaurants. A subsidiary of Yum Brands (NYSE: YUM), they serve a variety of Tex-Mex foods. The company serves more than 2 billion customers each year in more than 5,800 restaurants in the U.S. www.tacobell.com

TENANT PROFILES


5

GALLIA STREET SHOPPES SALES COMPS (ON THE MARKET)

Price $36,021,466Gross Leasable Area 375,466 SFPrice/SF $63.74Cap Rate 8%Occupancy 100%Year Built n/aLot Size n/a

Sales Comps16 DOLLAR GENERAL PORTfOLIO 10550 Main StreetSouth Webster, OH 45682

Price $2,185,000Gross Leasable Area 35,140 SFPrice/SF $54.68Cap Rate 9%Occupancy 100%Year Built 1989Lot Size n/a

PICKAwAy CROSSING23591-23507 US 23 SouthCircleville, OH 43113




5

MARKET OVERVIEWLOCATION The Property is located on the north side of Gallia Street within a mixed commercial and residential area of Portsmouth, Scioto County, Ohio. Gallia Street Shoppes is located on Gallia Street (also known as US Route 52), a major east-west oriented highway that follow the Ohio River. An estimated 14,840 vehicles travel on Gallia Street per day. Mabert Rd. is a tertiary road that connects Gallia Street to nearby neighborhoods. To the north of the subject is undeveloped land beyond which are single-family residences, to the south is a Wendy’s restaurant, to the east is Mabert Road Baptist Church and single-family residences, and to the west is a Little Cesar’s Pizza and single-family residences. Major tenants within the area include Wendy’s McDonald’s, Little Cesar’s, Aldi, Goodwill, GNC, Kmart, Walmart, Advanced Auto Part, and Autozone.

ECONOMYPortsmouth major employers include Southern Ohio Medical Center, USEC, Shawnee State University, Norfolk Southern Corp.(Railroad), Southern Ohio Correctional Facility and OSCO Industries. In November 2002, the Portsmouth Uranium Enrichment Plant in nearby Piketon, Ohio was recognized as an ANS Nuclear Historic Landmark by the American Nuclear Society. USEC interests in the area remain strong with the American Centrifuge Plant under construction in Piketon. This commercial uranium enrichment facility is expected to employ up to 500 people and reach an initial annual production level of 3.8 million SWU by 2012.

Graf Brothers Flooring and Lumber, the world’s largest manufacturer of rift and quartered oak products, has two satellite log yards in Portsmouth, with the company’s main office being located across the river in South Shore, Kentucky. Portsmouth was also the home of Mitchellace Inc., the largest manufacturer of shoelaces in the world.

POPULATION/ DEMOGRAPHICSLocated within two hours of both Cincinnati and Columbus, Portsmouth is a classic Southern Ohio community and the county seat of Scioto County; serving a population of nearly 21,000 people and a business community of about 3,000 employers.

City of Portsmouth, OH





5

MARION PLAZA PROPERTY SUMMARYMarion Plaza is a 67,500 square foot grocery (Save-A-Lot) anchored neighborhood shopping center located within a mixed commercial and residential area of Columbus, Franklin, OH. The center includes national tenants such as Save-A-Lot, Family Dollar, and American Renal Associates. This location features significant barriers to entry. The property is one of the few commercial properties in a dense area that has mostly residential and industrial properties. The area’s strong three-mile demographics feature a population of 91,205 and average household incomes of $51,449. An investor has the potential to purchase a stable shopping center with a grocer as an anchor (Save-A-Lot features a lease term through 2021).

Property Name Marion PlazaProperty Address 2046 Lockbourne Rd.,

Columbus, Franklin County, Ohio 43207

Number of Buildings Two single-story buildings Year Built 1968 and 1970 (renovated in 2002 and

2004)Gross Leasable Area (GLA) 67,500 SFLot Size 11.4 AcresParking Spaces +/- 382Occupancy 100%Anchor Tenant Save-A-Lot

SITE DESCRIPTION

THE OFFERING



Property Address 2046 Lockbourne Rd., Columbus, Franklin County, Ohio43207

Number of Buildings Two single-story buildings Year Built 1968 and 1970 (renovated in 2002

and 2004)Gross Leasable Area (GLA) 67,500 SFLot Size 6.35 AcresParking Spaces +/- 382Occupancy 100%


is provided by three curb cuts along Marion Rd. and two curb cuts along Lockbourne Rd.

Utilities • Electricity – AEP• Gas – Columbia Gas of Ohio• Water – City of Columbus Depart. of Public Utilities

Monument & Pylon Signs One pylon sign facing Lockbourne Rd.

Foundation Concrete slab-on-grade with one-story steel-framed superstructure and painted or split-face concrete.

Exterior Walls Masonry block, brick and sidingRoof The roof systems consist of a

wearing layer over a built-up system supported by metal decking. The wearing layers on the subject building consist of ballasted EPDM roofing membranes.

HVAC Consists of split system exterior packaged units with electrical air conditioning condensing units and natural gas heating units.



MARION PLAZA SITE PLAN

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Unit Tenant Name SF 1226 Touch & Agree Barber Shop 1,2401228 Born to Win Ministries 1,8801230 High Hope Childcare 1,8802044 Stars and Stripes Memorial 3,5002046 American Renal Associates 6,7192048 Hunan King 2,0002050 J&K Trading Inc 6,5002052 Family Dollar 11,5002054 Save A Lot 24,6102056 Soap City 4,000 Totals 63,829


FINANCIAL SUMMARY


Investment Summary

Save-A-Lot 24,610 2/28/2021Family Dollar 11,500 12/31/2015American Renal Assoc 6,719 9/30/2017


Investment Highlights• The center includes national tenants such as Save-A-Lot, Family Dollar, and American

Renal Associates.

• This location features significant barriers to entry.

• The property is one of the few commercial properties in a dense area that has mostly residential and industrial properties.

• The area’s strong three-mile demographics feature a population of 89,112 and average household incomes of $52,006.

• Save-A-Lot features a lease term through 2021.


Save-a-Lot is a discount supermarket chain headquartered in Earth City, Missouri, near St. Louis, United States. The subsidiary of SuperValu (NYSE: SVU) comprises approximately 1,250 stores in the United States with over $4 billion in annual sales. www.save-a-lot.com

Family Dollar (NYSE: FDO) is a regional chain of variety stores in the United States with approximately 7,100 stores in 45 states and the District of Columbia. With most locations set up like a typical supermarket, the chain deals in food items, clothing and assorted household products. www.familydollar.com

American Renal Associates is a national provider of dialysis services to over 8,000 patients who choose to receive treatment in one of the 121 state-of-the art facilities located in nineteen states and the District of Columbia. www.americanrenal.com

High Hope Child Care Center is a federally funded child care food program that has a maximum of 25 children.

Soap City is a family owned laundromat with two locations in Columbus, OH.www.soapcitylaundry.com

Born to Win Ministries is a church and provides daycare services.

Stars and Strips Memorial is a local private club.

TENANT PROFILES


MARION PLAZA SALES COMPS (ON THE MARKET)


Sales CompsKMART PLAZA2400 Stringtown RdColumbus, OH 43123


HERITAgE CLub RETAIL CENTER3440 Heritage Club DriveHilliard, OH 43026

Price $7,210,000Gross Leasable Area 22,140 SF Price/SF $325.65Cap Rate 8.50%Occupancy 100%Year Built 2008Lot Size 2.91AC

PARK CENTER CIRCLE6100 Parkcenter CircleDublin, OH 43017



Price $5,565,911Gross Leasable Area 31,133 SFPrice/SF $178.78Cap Rate 9%Occupancy n/aYear Built n/aLot Size 4.72 AC

EMERALd TOwN CENTER5677-5691 Woerner Temple Rd Dublin, OH 43016


MARKET OVERVIEWLOCATION Marion Plaza is located in a dense neighborhood featuring residential and industrial uses. It is located at hte intersection of Lockbourne Rd. and Marion Rd. Lockbourne Rd is a north-south thoroughfare that connects the surrounding area to James L Wagner Memorial Highway. Marion Rd. is an east-west secondary road. Marion Plaza is three miles southeast of downtown Columbus and is one of the few commercial properties in an area that features significant barriers to entry.

ECONOMYColumbus has a diverse economy based on education, government, insurance, banking, fashion, defense, aviation, food, clothes, logistics, steel, energy, medical research, health care, hospitality, retail, and technology. Columbus is home to the world’s largest private research and development foundation, the Battelle Memorial Institute; Chemical Abstracts Service, the world’s largest clearinghouse of chemical information; NetJets, the world’s largest fractional ownership jet aircraft fleet; and The Ohio State University, one of the largest college campuses in the United States (as of 2012 has an enrollment of 56,387 on its main campus). As of 2013, the city has the headquarters of four corporations in the U.S. Fortune 500, including Nationwide Mutual Insurance Company, American Electric Power, L Brands, and Big Lots; Cardinal Health and Wendy’s corporations are also based in the Columbus metropolitan area.

POPULATION/ DEMOGRAPHICSColumbus is the capital of and the largest city in the U.S. state of Ohio. It’s also the 15th largest city in the U.S and fourth largest in the Midwest. The Columbus metropolitan statistical area (MSA) is the third largest in Ohio, after the Cleveland MSA and the Cincinnati MSA. It is the county seat of Franklin County, yet the city has expanded and annexed portions of adjoining Delaware County and Fairfield County.

The population of the city was 787,033 at the 2010 census, making it the most populous city in Ohio. Its metropolitan area is 28th largest in the U.S. with 2,308,509 residents. And the Combined Statistical Area (which also includes Marion and Chillicothe) has a population of 2,348,495.

Skyline of Columbus, OH





CABLE SHORES SHOPPING CENTER PROPERTY SUMMARYCable Shores Center is a 44,400 SF retail strip center located in Canton, Ohio. Canton is the county seat of Stark County and offers an abundance of big city amenities with beautiful, rolling countryside just minutes outside the city. The center is located off Fulton Dr. which boasts a high traffic count of 21,000+ vehicles per day. Cable Shores is currently 87 percent leased with a strong mix of national and local tenants and has historically been close to 100% occupied. Within the immediate area of the subject property is Westfield Belden Village (820,000 SF Mall). The population in the area is high with over 152,000 individuals within five miles. Cable Shores Shopping Center offers an investor the opportunity to acquire a solid asset in a stable market area with the opportunity to improve their financial return by leasing-up the remaining vacancies, negotiating new leases with higher rents and expense reimbursements upon lease expirations.

Property Name Cable Shores Shopping CenterProperty Address 5380 Fulton Drive NW

Canton, Stark County, OH 44718

Number of Buildings One (1) story buildingYear Built 1973Gross Leasable Area (GLA) 44,400 SFLot Size 6.69 AcresParking Spaces +/- 182Occupancy 87%Anchor Tenant Dollar General

THE OFFERING

SITE DESCRIPTION


6


Property Address 5380 Fulton Drive NW Canton, Stark County, OH 44718

Number of Buildings One (1) story buildingYear Built 1973Gross Leasable Area (GLA) 44,400 SFLot Size 6.69 Acres


is provided by one curb cut along Fulton Drive NW and two curb cuts along South Blvd NW.

Utilities • Electricity – AEP• Gas – Dominion• Water – Aqua Ohio Inc• Sewer – Humbert Sanitary Serv.

Monument & Pylon Signs One pylon sign facing Fulton Dr NW.

Foundation Masonry block constructionFraming System Reinforced concrete slabExterior Walls 6.69 AcresRoof The roofs consist of pitched

areas with metal and flat areas consisting of a rubber membrane.





CABLE SHORES SITE PLAN

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Unit Name SF 5350 Fiddlestix 9,0005382 Primavera's 5,2005384 Dollar General 10,2005386 Jane's Restaurant 3,5005390 Shirley's Dance 5,0005396 Vacant 1,3005398 Vacant 4,3005402 Chrysalis Beauty Salon 1,3005406 Games Unlimited 1,3005410 Another Look 3,300 Totals 44,400


FINANCIAL SUMMARY

Gross Leaseable Area (GLA) 44,400 SFOccupancy 87%Total Income $363,660Total Expenses $71,061 Net Operating Income (NOI) $292,600

Investment Summary

Dollar General 10,200 2/29/2020Fiddlestix 9,000 10/31/2024Primavera’s 5,200 MTM


Investment Highlights• Cable Shores is a ±44,400 square-foot, multi-tenant retail shopping center located in

Canton, Ohio.

• The retail center is currently 87% occupied with Dollar General as the anchor tenant.

• Strong mix of national and local tenants with staggered lease expirations in place. Tenants are paying below market rents.

• Located off Fulton Dr. which boasts a high traffic count of 21,000 vehicles per day with the population in the area is over 152,000 individuals within a five mile radius.

• Westfield Belden Village Mall (820,000 SF Mall) located within the immediate area.

• Recent lease renewals: Fiddlestix (10 years) and Dollar General (5 years)

• Cable Shores Center offers an investor the opportunity to acquire a solid asset in a stable market area. The property has historically been close to 100% occupied.



Fiddlestix Billiard Café is Canton’s premiere billiards hall featuring 9 ft and 7 ft tables, as well as ping pong, darts, arcade games, big screen sports, little screen sports, espresso coffee, one of the most eclectic juke boxes in Ohio, and 9,500 sq ft to move around in.www.fiddlestixbilliards.com

Shirley’s School of Dance offers Competition Classes, Tap, Member Of Dance Masters Of America, Lyrical, Jazz, Hip Hop, Certified By Test To Teach, Ballet, and Acrobatic. Members of Dance Masters of America and Ohio.shirleysdanceoline.com

Primavera’s is a local Italian restaurant with great food, environment, and entertainment.

Jane’s Family Restaurant - Full Service Restaurant.

Chrysalis Beauty Salon – Local beauty salon with services including Hair Cutting and Styling, Hair Texturing, Hair Color, Other Hair Services, Facials, Special Occasion Services, Nail Services, Skin Care, and Massage.

Games Unlimited – Local arcade store

Another Look - Upscale resale shop with current seasonal clothing and accessories for everyone.

TENANT PROFILES


CABLE SHORES SALES COMPS (ON THE MARKET)


Sales CompsSTRIP PLAZA5854-5896 Fulton Dr NWCanton, OH 44718


WESTWOOd SquARE2410 West State StreetAlliance, OH 44601

Price $950,000Gross Leasable Area 15,081 SFPrice/SF $62.99Cap Rate 8%Occupancy 93%Year Built 1973Lot Size 1.55 AC

RENO PLAZA1408 Chapel St NLouisville, OH 44641

Price $813,000Gross Leasable Area 13,453 SFPrice/SF $60.43Cap Rate 8.25%Occupancy 100%Year Built n/aLot Size 2.73 AC

FAMILy dOLLAR ANCHOREd 1230 Wooster RoadBarberton, OH 44203




MARKET OVERVIEWLOCATION Canton, Ohio is in the county seat of Stark County, Ohio. It is located approximately 60 miles south of Cleveland and approximately 24 miles south of Akron, in the northeast part of Ohio. It is also located a short distance away from the periphery of the greater Pittsburg area. Most outside attention given to Canton is focused on two things. The first is football, especially the Pro Football Hall of Fame and the second is William McKinley who conducted from his home in Canton the famed “front porch campaign” which won him the presidency of the United States in the 1896 election.

In addition to being the birthplace of American professional football and many important figures in our nation’s history, Canton is also home to a vibrant arts community. The Canton Symphony Orchestra, Canton Ballet, and Canton Museum of Art all give residents a place to experience art and culture from around the world, while our growing local artists’ community is quickly becoming well-known as a dynamic presence in the region. World-class hospitals and five area universities contribute a great deal to residents’ high quality of life, while the natural beauty of our public parks and green spaces allow Cantonians some time away from the hustle and bustle of city living. With the cost of real estate estimated at less than half of the national average, Canton is as affordable as it is enjoyable.

ECONOMYThe Canton area’s economy is primarily industrial, with a significant agricultural segment. The city is home to the Timken Company, a major manufacturer of tapered roller bearings and specialty steel. Several other large companies operate in the greater-Canton area, including the Belden Brick Company (brick and masonry producer) and Diebold (ATMs, electronic voting devices, and bank vaults). The area is also home to several regional food producers, including Nickles Bakery (baked goods), Case Farms (poultry) and Shearer’s Foods (snack foods). Poultry production and dairy farming are also important segments of the Canton-area economy.

POPULATION/DEMOGRAPHICSAs of 2010, the city of Canton had a population of 73,007 which ranked 18th among Ohio cities and was the largest incorporated area in the Canton-Massillom, Ohio MSA with a total population of 404,422 rsidents. The city’s population is ranked eight amongst Ohio cities.

Football Hall of Fame Fame




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