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Sherwin-Williams1741 Progressive Parkway, Platteville, WI 53818

OFFERING MEMORANDUM

This Marketing Brochure contains select information pertaining to the business and affairs of Sherwin-Williams located at 1741 Progressive Parkway, Platteville, WI 53818 here to referred to as “Property”. Information in this Marketing Brochure is confidential and provided solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose and may not be made available to any other person without the written consent of the Seller or Matthews Retail Group, Inc.

This Marketing Brochure has been prepared by Matthews Retail Group, Inc. (also known as Matthews Retail Advisors) based in part upon information supplied by the Seller and in part upon financial information obtained from sources deemed reliable by Matthews Retail Group, Inc. However, Matthews Retail Group, Inc. has not and will not verify any of this information, nor has Matthews Retail Group, Inc. conducted any investigation regarding these matters. Matthews Retail Group, Inc. makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

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 the Buyer’s thorough due diligence investigation of this investment opportunity. Matthews Retail Group, Inc. expressly denies any obligation to conduct a due diligence examination of this Property for the 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 the Buyer depends on factors that should be evaluated by the Buyer and their tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any property to determine to their satisfaction the suitability of the Property for their investment goals.

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 performance.

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 the Seller and Matthews Retail Group, Inc. of any and all liability and hold the parties harmless from any kind of claim, cost, or expense arising out of your investigation and/or purchase of this Property.

NON-ENDORSEMENT NOTICEMatthews Retail Group, Inc. is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this Marketing Brochure. 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 Matthews Retail Group, Inc., its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Matthews Retail Group, Inc., and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

CONFIDENTIALITY & DISCLAIMER STATEMENT

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PRICING AND FINANCIAL ANALYSISInvestment Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Financial Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Lease Abstract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4Company Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

PROPERTY DESCRIPTIONProperty Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Bird’s Eye . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Tenant Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Regional Map. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

DEMOGRAPHICSDemographics Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12City Overview | Platteville, WI . . . . . . . . . . . . . . . . . . . . . . . . . 13

TABLE OF CONTENTS

PRESENTED BY

Beau BeachBroker of Record

License No. 55685-90

Michael MorenoAssociate

License No. 01982943O 310.919.5838M 818.522.4497michael.moreno@matthews.com

Aron ClineVP & Sr. Director

License No. 01904371O 310.919.5816M 818.632.0233aron.cline@matthews.com

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™PRICING AND FINANCIAL ANALYSIS

Investment OverviewMichael Moreno and Aron Cline of Matthews Retail Group are pleased to exclusively offer for sale to qualified investors a newly developed net leased Sherwin-Williams investment opportunity located in Platteville, WI (home of Univeristy of Wisconsin-Platteville). The subject property is outlot from a newly upgraded Walmart Supercenter (Walmart to Walmart Supercenter) and Menards and serves as the key paint distributor for 25+ miles. The subject property is a brand new high quality construction building leased to a highly desirable tenant in Sherwin-Williams, which carries an S&P investment grade tenant rating of A. Sherwin-Williams has a brand new 10 year primary lease accompanied by three 5 year options to renew with fixed rental increases throughout the lease (10% increases). The subject property is strategically situated to serve the continually growing Platteville population and the ever-expanding University of Wisconsin-Platteville community. Sherwin-Williams has targeted the Platteville community as a vital location for their presence and have high expectations for this site’s long-term performance and success.

Investments HighlightsBRAND NEW CONTRUCTION INVESTMENT GRADE TENANT

• Attractive New High Quality Construction Sherwin-Williams - Strong publicly traded national tenant with an S&P credit rating of A

• Long Term lease providing long term passive income and security - 10 Year primary term with 15 years of options to renew

LEASE STRUCTURE PROVIDES PASSIVE INCOME AND INFLATION HEDGE

• Attractive 10% rental increases every 5 years – Strong hedge against inflation

• Developer negotiated lease structure provides potential landlord with one of the most passive Sherwin-Williams investments in the entire country - roof + structure are sole landlord reponsibilities

IDEAL 1031 EXCHANGE PROPERTY

• This net-leased investment provides landlords with a brand-new net leased investment with 10% increases every 5 years that is leased to one of the strongest net-lease tenants in the entire industry

SITUATED IN RETAIL HUB OF CITY AND SURROUNDING COMMUNITIES

• Property is located in retail corridor that includes tenants: Walmart, Menards, O’Reilly’s, Ashley Furniture, Blain’s Farm & Fleet, K-Mart, Dollar Tree, Hibbett Sports, Goodwill, Subway, Advance Auto Parts, Anytime Fitness, Walgreens, Taco Bell, KFC, ACE Hardware, Jimmy Johns, Do-It Center, and Domino’s Pizza - This is the only major retail hub within 15-mile radius

• Both McDonalds and Walmart have relocated their buildings to better position themselves (Sherwin-Williams property is located adjacent to McDonald’s and outlot to a Walmart Supercenter) - Sherwin-Williams is strategically located to maximize sales as it is the only major paint distributor for 25+ miles

STRONG REGIONAL DEMOGRAPHICS

• High-Income Population: Income of residents in 5-mile radius: $61,011

• High Growth Region: Population within 3-mile radius of site have seen 8.57% growth within the past 6 years - Area is continuing to see sustained growth

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Investment Overview

EXECUTIVE SUMMARY1741 Progressive Parkway Platteville, WI 53818List Price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,496,000Gross Leasable Area . . . . . . . . . . . . . . . . . . . . . . . . .3,500 SFCAP Rate - Current. . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.75%Year Built . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2015Lot Size . . . . . . . . . . . . . . . . . . . . . . . . . 0.92 Acres (40,168 SF)

ANNUALIZED OPERATING DATAMonthly Rent Annual Rent Rent/SF CAP Rate

11/1/2015-10/31/2020 $7,166.67 $86,000 $24.57 5.75%

11/1/2020-10/31/2025 $7,883.33 $94,600 $27.03 6.33%

Option 1 - 2030 $8,671.67 $104,060 $29.73 6.96%

Option 2 - 2035 $9,538.83 $114,466 $32.70 7.65%

Option 3 - 2040 $10,492.71 $125,913 $35.98 8.42%

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Financial Overview

TENANT SUMMARYTenant Trade Name Sherwin-Williams

Type of Ownership Fee Simple

Lease Guarantor Corporate

Lease Type NN

Roof and Structure Landlord Responsible

Original Lease Term 10 Years

Lease Commencement Date 3/9/2015

Rent Commencement Date 11/1/2015

Lease Expiration Date 10/31/2025

Term Remaining on Lease 9.5 Years

Increases 10% every 5 years

Options Three (3) Five (5) Year

Tenant: The Sherwin-Williams Company, an Ohio Corporation, S&P Rated A Credit

Tenant Address: 101 W Prospect Ave, Cleveland, OH 44115

Property Address: 1741 Progressive Pkwy, Platteville, WI 43818

Date Of Lease: March 9, 2015

Rent Commencement:

November 1, 2015

Lease Expiration: October 31, 2025

Lease Term: Ten (10) years

Current Rent: $86,000

Rent Increases: 10% rental increases every five (5) years

Renewal Options: Three (3) Five (5) year options

Annual Rent:

Years 1-5 $86,000 per yearYears 6-10 $94,600 per yearOption one 11-15 $104,060 per yearOption two 16-20 $114,466 per yearOption three 21-25 $125,912 per year

Real Estate Taxes: Tenant’s responsibility

Insurance: Tenant’s responsibility

Utilities: Tenant’s Responsibility

Repairs & Maintenance: Landlord shall, at its sole cost and expense maintain the roof + structure of the building

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Lease Abstract

Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, indus-trial, commercial, and retail customers primarily in North and South America. The company operates in four segments: Paint Stores Group, Consumer Group, Global Finishes Group, and Latin America Coatings Group. It provides architectural paint and coatings, protective and marine products, automotive finishes and refinish products, original equipment manufacturer product finishes, and related items. The com-pany also licenses technology and trade names. As of December 31, 2015, its Paint Stores Group segment operated 4,600 company-oper-ated specialty paint stores; Global Finishes Group segment operated 300 company-operated branches; and Latin America Coatings Group segment operated 276 company-operated stores. The company also sells its products through direct sales staff and outside sales repre-sentatives to retailers, dealers, jobbers, licensees and other third party distributors. The Sherwin-Williams Company was founded in 1866 and is headquartered in Cleveland, Ohio.

Property Name Sherwin-Williams

Property Type Net Leased Paint Store

Parent Company Trade Name Sherwin-Williams

Ownership Public

Credit Rating A

Rating Agency Standard & Poor’s

Revenue $11.3 B

Net Income $935.66 M

Stock Symbol SHW

Board NYSE

No. of Locations ±4600

No. of Employees ±37600

Headquartered Cleveland, OH

Web Site www.sherwin-williams.com

Year Founded 1866

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Company Overview

™PROPERTY DESCRIPTION

THE OFFERINGProperty Name . . . . . . . . . . . . . . . . . . . . . . . . Sherwin-WilliamsProperty Address . . . . . . . . . . . . . . . . . 1741 Progressive Parkway Platteville, WI 53818Assessor’s Parcel Number . . . . . . . . . . . . . . . . . 271-03100-0220

SITE DESCRIPTIONNumber of Stories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OneYear Built . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2015Gross Leasable Area (GLA) . . . . . . . . . . . . . . . . . . . . . 3,500 SFLot Size . . . . . . . . . . . . . . . . . . . . . . . . ±0.92 Acres (40,168 SF)Type of Ownership. . . . . . . . . . . . . . . . . . . . . . . . . Fee SimpleParking . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Surface SpacesLandscaping . . . . . . . . . . . . . . . . . . . . . . . . . . . . ProfessionalTopography. . . . . . . . . . . . . . . . . . . . . . . . . . . Generally Level

CONSTRUCTIONFoundation . . . . . . . . . . . . . . . . . . . . . . . . . . . .Concrete SlabExterior . . . . . . . . . . . . . . . . . . . . . . . . . . .Masonry and StoneParking Surface . . . . . . . . . . . . . . . . . . . . . . . . . . . . .AsphaltRoof . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Flat

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Property Overview

PROPERTY DESCRIPTION

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Bird’s Eye

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Tenant Map

PROPERTY DESCRIPTION

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Regional Map

™DEMOGRAPHICS

Population 3-Mile 5-Mile 10-Mile

2021 Projection 13,698 15,080 22,577

2016 Estimate 13,176 14,506 21,844

2010 Census 12,135 13,415 20,679

2000 Census 10,703 11,872 18,920

Growth 2016-2021 3.96% 3.96% 3.36%

Growth 2010-2016 8.57% 8.13% 5.63%

Growth 2000-2010 13.39% 13.00% 9.30%

Households

2021 Projection 4,402 4,896 7,798

2016 Estimate 4,169 4,641 7,465

2010 Census 3,980 4,432 7,206

2000 Census 3,571 3,976 6,587

Growth 2016-2021 5.58% 5.48% 4.47%

Growth 2010-2016 4.76% 4.72% 3.59%

Growth 2000-2010 11.46% 11.47% 9.39%

Income

$0 - $15,000 17.87% 17.12% 13.37%

$15,000 - $24,999 12.21% 11.97% 11.29%

$25,000 - $34,999 8.37% 8.68% 9.61%

$35,000 - $49,999 11.89% 12.20% 13.87%

$50,000 - $74,999 20.87% 20.84% 21.07%

$75,000 - $99,999 12.59% 12.83% 13.44%

$100,000 - $124,999 8.08% 8.08% 8.37%

$125,000 - $149,999 3.81% 3.83% 4.10%

$150,000 - $199,999 2.09% 2.17% 2.44%

$200,000 - $249,999 0.81% 0.85% 0.99%

$250,000 - $499,999 0.99% 1.02% 1.07%

$500,000+ 0.41% 0.40% 0.39%

2016 Est. Average Household Income $60,368 $61,011 $63,854

2016 Est. Median Household Income $49,570 $50,033 $52,215

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Demographics Report

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City Overview | Platteville, WI

PLATTEVILLE, WILocated in southwestern Wisconsin, Platteville is the largest city in Grant County. It is 60 miles southwest of Madison and 20 miles northeast of Dubuque, IA. The city is experiencing increased commercial growth as more businesses have invested themselves in this Wisconsin college town. Much of this investment has come as a direct result of Platteville’s growing population, which increased 12% from 2000-2010. Much of this population growth has been fueled by the University of Wisconsin-Platteville’s growing student body.

UNIVERSITY OF WISCONSIN - PLATTEVILLEThe University of Wisconsin – Platteville boasts one of the top engineering programs in the country, which has led to its increasing enrollment rates. This recent surge has helped revitalize the Platteville economy, as seen in many top-national tenants firmly planting themselves in Platteville’s soil. The university is continually recognized as one of the top engineering schools in the nation, with the nation’s top employers seeing Platteville as a recruitment hotspot.

MADISON, WISCONSIN Home to the state capital, Madison is the second largest city in Wisconsin and has an estimated population of 243,344. Madison’s economy and job atmosphere continue to grow under the employment of the state government and state universities. Madison was also recently ranked as the #6 city in the country for job growth and ease in finding a job. One of the biggest benefactor of Madison’s success has been Platteville. Platteville’s close proximity to Madison has been a major catalyst for the city’s growth and will continue to drive its future success.

# Employer1 UW - Platteville

2 Platteville Schools - K-12

3 Heartland Health Care

4 Southwest Health

5 Esterline Avista Software

TOP EMPLOYERS

841 Apollo Street, Suite 150 | El Segundo, CA 90245 | www.matthews.com™

Sherwin-Williams1741 Progressive Parkway, Platteville, WI 53818

OFFERING MEMORANDUM

Beau BeachBroker of Record

License No. 55685-90

Michael MorenoAssociate

License No. 01982943O 310.919.5838M 818.522.4497michael.moreno@matthews.com

Aron ClineVP & Sr. Director

License No. 01904371O 310.919.5816M 818.632.0233aron.cline@matthews.com