FOR SALE FOR SALE HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITIES 2310 KINGSWAY & 2320 KINGSWAY VANCOUVER, BC AIR SPACE PARCEL 2 AIR SPACE PARCEL 1

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1 AIR SPACE PARCEL 2 AIR SPACE PARCEL 1 Kingsway (32,875 VPD) Nanaimo Street (19,297 VPD) JON BUCKLEY* jbuckley@form.ca CURTIS LEONHARDT* cleonhardt@form.ca *Personal Real Estate Corporation

2 OPPORTUNITY The Vendor has exclusively retained Form Retail Advisors Inc. (the Agent ) to facilitate the sale of its 100% freehold interest in 2310 Kingsway (the Air Space Parcel 1 ) and 2320 Kingsway (the Air Space Parcel 2 ) located in Vancouver, British Columbia (collectively, the Offering ). The Offering is an excellent investment opportunity consisting of two separate air space parcels secured by long-term national tenants on a fully net basis. The two air space parcels may be purchased as a package or on an individual basis. OVERALL PROPERTY HIGHLIGHTS INVESTMENT Recently constructed 26,678 square feet of retail space comprised of two air space parcels, offering greater flexibility than strata lots Assets secured by national covenants on carefree, long term, fully net leases with rental escalations in 2018, providing immediate upside Anchored by Shoppers Drug Mart and Royal Bank of Canada, who collectively account for 78.7% of the existing base rental revenue 150+ parking stalls to complement the commercial space with potential to generate future revenue Liquor store on-site creates excellent draw to the Offering, and is one of only two private liquor stores located along Kingsway Rare investment offering in the Metro Vancouver market characterized by tight supply and strong demand for high-quality commercial real estate assets LOCATION Located within a new mixed-use development with 335 residential suites above Situated at the high-profile, fully-signalized intersection of Kingsway and Nanaimo Street within the Norquay Village Neighbourhood Centre Excellent exposure along the Kingsway Corridor seeing 32,875 vehicles per day Central location to Downtown Vancouver, Metrotown Mall, nearby schools, retail services and amenities, and two SkyTrain stations Rapid residential and mixed-use development along Kingsway has spurred phenomenal growth in the area Significant increase in commercial and community activity is anticipated near the 2400 Motel redevelopment site, adjacent to the Offering

3 MUNICIPAL ADDRESS OVERALL PROJECT DETAILS Kingsway, Vancouver, BC Kingsway (32,875 VPD) LOCATION Southeast corner at Kingsway and Nanaimo Street Eldorado Mews YEAR BUILT ACCESS/EGRESS Wall Group of Companies All directional access on Kingsway Right in/right out on Nanaimo heading South P TRAFFIC COUNTS 32,875 VPD along Kingsway 19,297 VPD along Nanaimo Street Nanaimo Street (19,297 VPD) TOTAL NET LEASABLE AREA PARKING 26,678 square feet for both Air Space Parcels 152 stalls dedicated to commercial retail AIR SPACE PARCEL 2 ZONING CD - 1 (487) OCCUPANCY FINANCING 92% Occupied Available Clear Title INDIVIDUAL OFFERINGS Air Space Parcel 1 Air Space Parcel 2 PID LEGAL DESCRIPTION Block 11 District Lot 393 Group 1 New Westminster District Air Space Plan EPP25967 Block 11 District Lot 393 Group 2 New Westminster District Air Space Plan EPP25967 AIR SPACE PARCEL 1 NET RENTABLE AREA 6,927 SF 19,751 SF CURRENT TENANTS Subway Dominion Lending Centres Eldorado Liquor Store Shoppers Drug Mart Royal Bank of Canada STABILIZED YEAR 1 NOI $224,313 $639,791 ASKING SALE PRICE $6,500,000 $21,000,000 The Offering is held in a bare trust, which can be purchased from the Vendors, thereby avoiding any property transfer tax.

4 CHAMBERS ST SIDNEY ST ARENDON ST KASLO ST KILLARNEY ST AT COLLEGE ST RUPERT ST MARKET OVERVIEW RENFREW-COLLINGWOOD The subject property is located within the Renfrew-Collingwood neighbourhood. Renfrew-Collingwood is a large and growing residential neighbourhood with a population of approximately 54,914 people (2017), and is expected to grow 5.4% by Many commuters travel through the area as Renfrew-Collingwood is home to some of the busiest streets in Vancouver with Kingsway, Grandview Highway, Boundary Road, and East Broadway each carrying more than 40,000 vehicles per day at its peak; the location where the subject property is situated has an exposure to 32,875 vehicles daily along Kingsway. In addition, the neighbourhood is home to five SkyTrain stations. NORQUAY VILLAGE NEIGHBOURHOOD Within the Renfrew-Collingwood area, the subject property is more specifically located within the Norquay Village Neighbourhood, a 371 acre area identified as a target for revitalization and exponential growth in the Norquay Village Neighbourhood Centre Plan (NVNCP), approved in The central location to Downtown Vancouver, Metrotown Mall, nearby schools, convenient access to the rest of the Lower Mainland via two SkyTrain stations (Nanaimo and 29th Avenue) and proximity to commercial services and amenities, have made Norquay Village a highly desirable place to live. The neighbourhood has traditionally been characterized as a single-family residential area, however as the population continues to grow, the Norquay Village neighbourhood is seeking to diversity housing types, increase density, and encourage development along the Kingsway corridor. The NVNCP outlines improvements to Kingsway, new residential zones, a public benefits strategy, and a public realm plan. Population is projected to grow by 7.4% within 1 KM of the Subject Property by development permit applications have been submitted for the area since zoning changes in 2013 and 2016 An additional 3,400 housing units are estimated to be added to the area over the next 30 years SIDNEY ST GLADSTONE ST E 29TH AVE E 32ND AVE E 34TH AVE E 27TH AVE BALDWIN ST Kensington Gardens LEGEND MANNERING AVE E 33RD AVE E 35TH AVE E 37TH AVE E 39TH AVE NANAIMO ST GENERAL BROCK PARK WENONAH ST E 30TH AVE NANAIMO ST HIGHGATE ST ST MARGARETS ST KAMLOOPS ST BROCK ST LAWRENCE ST GALT ST 2400 Motel Site CUNNINGHAM ELEMENTARY E 38TH AVE E 29TH AVE CLARENDON ST E 28TH AVE GOTHARD ST KINGSWAY E 37TH AVE SLOCAN ST E 40TH AVE E 41ST AVE E 42ND AVE SLOCAN ST NORQUAY ELEMENTARY DUCHESS ST NORQUAY PARK Mid-Block Sites: Maximum Building Height: 12 Storey WALES ST VANNESS AVE RHODES ST DUKE ST WARD ST EARLES ST SLOCAN PARK EUCLID AVE CHEYENNE AVE HORLEY ST DUNDEE ST EARLES PARK E 42ND AVE 29TH AVE SKYTRAIN STATION MOSS ST FAIRMONT ST Purdy's Chocolate Site Large Sites for Public Plazas: Maximum Building Height: 14 Storey E 27TH MOSS ST BURSILL ST KILLARNEY ST 2400 Motel Site: Large Site for Public Plaza; Maximum Building Height: 16 Storey FAIRMO COLLINGWOO LIBRARY S

5 MARKET OVERVIEW KINGSWAY CORRIDOR AND REZONING AREA The Kingsway Corridor has in recent years experienced a rapid increase in growth and density with the emergence of several residential and mixed-use developments, and more projects being planned. The Kingsway corridor is the main commercial node for the area and a major regional connection, and is identified as a priority for revitalization. Within the Norquay Village Neighbourhood Centre, the subject property is located within the Kingsway Rezoning Area. A mix of mid-rise development opportunities, focus on retail, and strategic public realm investments are envisioned while ensuring that Kingsway continues its role as the primary local shopping street and location for higher-density development Motel Redevelopment Site The triangle formed by Kingsway, Nanaimo, Slocan, and East 33rd Avenue, the 2400 Motel site, has been frequently identified as the heart of the Neighbourhood Centre and the focus for Kingsway s revitalization. The 2400 Motel site is envisioned to be a large public plaza with a major urban open space and adjacent retail and anticipated indoor community space. This site is immediately adjacent to the subject property. Kensington Gardens Located one block away from the Subject Property at the old Canadian Tire site, Westbank s Kensington Gardens is a master-planned community comprised of three residential towers, a collection of townhouses, a residential podium, a landmark plaza, and new retail and restaurants including a supermarket. The development will offer over 400 residential units upon completion, which is estimated to be mid Purdy s Chocolate Redevelopment Site Redevelopment for the site is envisioned to embody a green, intimate parklike character. The Purdy s Chocolate site will be a fully landscaped, public plaza with retail uses at the edges of the park. King Edward Avenue * 8 LEGEND COMPLETED Knight Street 1 IN CONSTRUCTION PRE-CONSTRUCTION PROPOSED PUBLIC PLAZAS COMPLETED 1. King Edward Village Developer: Aquilini Project details: 192 condo units in a 7 storey building with a 12 storey tower, built in Galt Street Project details: 4 townhouse units 3. Skyway Towers Developer: Thind Properties Project details: 160 condo units within a concrete 12 storey hi-rise and 4 storey midrise. Completed in IN CONSTRUCTION 4. King Edward Villa Developer: Richard Wong Project details: 77 market rental units and 6,000 sf of commercial space. Expected completion for Kingsway Developer: Co-operative Housing Federation of BC Project details: Affordable housing project offering 48 non-market rental units. 4 5 Kingsway Victoria Street 9 * 6 6. Kensington Gardens Developer: Westbank Corp. Project details: 404 condo units including townhouses. Master-planned mixed-use development with landmark plaza, retail and amenities. Expected completion for Azora I Ariia Developer: Azora Development Project details: Ten townhomes scheduled for completion in PRE-CONSTRUCTION 8. Kingsway Mansion Developer: President Canada Group Project details: 26 condo units in a four storey building with expected completion slated for Kingsway Developer: Hua Long International Technical Investments Ltd. Project details: 101 market rental units in a six storey building. Gladstone Street 2 10 Nanaimo Street Nanaimo SkyTrain Station * SUBJECT PROPERTY th Avenue SkyTrain Station Galt Street Project details: 28 market rental units in a four storey building. * Kingsway Developer: Thind Properties Project details: 126 residential units and seven commercial retail units in a 12 storey mixed-use building and one four storey mixed-use building. 12. Slocan Park Vancouver Developer: Tatla Developments Project details: 37 apartments and 16 townhomes located at 4888 Slocan. 13. Stella, 2637 Duke Street Developer: Vincini Homes Project details: Four townhouse units 14. Duke, 2666 Duke Street Developer: Citrine Homes Project details: 20 condo units 15. Duke, 2763 Duke Street Developer: Vincini Homes Project details: Four townhouse units 16. Ward, 2739 Ward Street Developer: Vincini Homes Project details: 16 townhouse units PROPOSED Kingsway Details: the 1.5 acre lot previously occupied by Rona was sold as a redevelopment site to Cressey Developments in Kingsway & 2772 Duke Street Details: the 0.86 acre lot previously Harvey Stores was sold as a redevelopment site to Coromandel Properties in Kingsway Details: A rezoning application submitted proposed a six storey mixeduse building with 39 market rental units and is being considered by the City of Vancouver.

6 Kingsway AIR SPACE PARCEL 2 AIR SPACE PARCEL 1 Vacant 1,506 SF Vacant 643 SF ELDORADO LIQUOR STORE 2016 ESTIMATES & PROJECTIONS 1 KM 3 KM 10 MIN DRIVE Population 22, , ,761 Households 7,331 64, ,659 Average Household Income $84,023 $82,800 $81,420 % Pop. Change ( ) 6.9% 4.2% 5.2% Projected % Pop. Change ( ) 7.4% 4.0% 5.4% SEYMOUR STREET V6B 5A6 T F FORM.CA The information contained herein has been prepared by Form Retail Advisors Inc. for advertising and general information only. Form Retail Advisors Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Form Retail Advisors Inc. excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all FORM liability for RETAIL loss and ADVISORS damages arising INC. there from. This communication is not intended to cause or induce breach of an existing listing agreement.