NORTH PARK BUILDINGS 7 & 8

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1 NORTH PARK BUILDINGS 7 & NORTH 118TH STREET, 2717 NORTH 118TH STREET AND 2909 NORTH 118TH STREET, OMAHA, NE EMBER GRUMMONS, CCIM Investors Realty, Inc (O) egrummons@investorsomaha.com J.P. RAYNOR, J.D. Investors Realty, Inc jpraynor@investorsomaha.com

2 TABLE OF CONTENTS Executive Summary North Park Office Park Overview Aerials Omaha Overview

3 EXECUTIVE SUMMARY BUILDINGS 7A AND 7B Sales Price $12,500,000 Rentable Area 108,935 SF Price Per Square Foot $ Occupancy 100% Lease Structure Mostly NNN Site Area 5.86 Acres Parking 5.72/1,000 Year Built/Renovation Building 7A 1997/2016 Building 7B 2007/ Net Operating Income $1,115,250 BUILDING 8 Sales Price $10,800,000 Rentable Area 68,388 SF Price Per Square Foot $ Occupancy 100% Lease Structure NNN Site Area 4.31 Acres Parking 5.26/1,000 Year Built/In Service 2010/ Net Operating Income $864,393 BUILDINGS 7A, 7B AND 8 COMBINED Sales Price $23,300,000 Combined Rentable Area 177,323 SF Price Per Square Foot $ Occupancy 100% Lease Structure Mostly NNN 2018 Net Operating Income $1,980,000 Capitalization Rate 8.5%

4 LOCATION HIGHLIGHTS Buildings are in a well-conceived office park designed specifically to accommodate large back office users. Development is close to arterials-interstate 680, West Dodge Road and West Maple Road. Development is served by four full movement access points, three of which are signalized. All services are within five minutes with many services located within the office park. Abundant parking ratio has contributed to high occupancy and quick re-leasing of vacancies. Multiple fiber optic providers to the office park. INVESTMENT HIGHLIGHTS Both properties are 100% leased, well maintained multi-tenant suburban office buildings. Buildings are leased to an impressive set of high-quality, credit-worthy tenants, including United Health Care and AAA. Fifty-five percent of the combined properties are leased at below market rents. Newest construction in Omaha s best performing office park-north Park s 690,000 square feet of office space is currently 99% leased. Properties will be available for new financing. Efficient buildings with large, functional floor plates and heavy parking ratios to accommodate back office users.

5 NORTH PARK OVERVIEW North Park is a mixed-use development consisting of eight office buildings comprising approximately 690,000 square feet and five retail buildings comprising approximately 90,000 square feet. The North Park campus is located in the heart of Omaha, Nebraska. It has quick access to Interstate 680 and excellent demographics. The North Park development occupies a unique niche in Omaha. It targets back office operations such as order processing, billing and customer service. Omaha enjoys a significant demand for this type of space due to its highly educated workforce, low occupancy cost, flat Midwestern accents and central time zone. The development was designed to accommodate these uses by offering large, open floor plates and a high parking ratio. The site is highly accessible and located on public transportation routes. The Office Park has an excellent mix of services located on site, including a hotel, fitness facility and ten restaurants. In 2007, North Park office buildings 1-6 were purchased by a tenant in common syndicator. The syndicator failed during the 2008 recession, leaving the properties without cash available for capital improvements, tenant improvements or leasing commissions. As a result, property owners were unable to finance new leases and vacancy in the Office Park increased substantially. Prior to the syndicator s 2007 purchase, North Park had a 10-year occupancy history of 98%, including lease-up time for new buildings as they were constructed. In late 2015 the buildings with vacancy were acquired by new owners, renovated and recapitalized. Occupancy rose sharply to the current level of 99%, which is in line with the Office Park s long-term average. NORTH PARK IS JEWEL IN THE CROWN OF OMAHA MARKET FOR COMMERCIAL REAL ESTATE ARTICLE:

6 NORTH PARK OFFICE BUILDING OCCUPANCY SUMMARY Building Name Address Size Available Major Tenants North Park Grant Street 58,494 Fully Leased Bennaisance, Fusion Medical North Park N 117th Avenue 62,654 Fully Leased Conifer, Advance Med and Lindsay North Park N 117th Avenue 119,804 Fully Leased Convergys, IntegriGuard, Employers Mutual and United Health Care North Park 4A Miami Street 65,022 Fully Leased Omni Hotels, United Healthcare and Ellie Mae North Park 4B 2520 N 117th Avenue 39,015 5,920 Alorica and United Healthcare North Park N 117th Avenue 68,484 Fully Leased Fidelity Title North Park N 117th Avenue 100,722 Fully Leased Wisconsin Physicians Service Insurance Co and Centene North Park 7A 2717 N 118th Circle 59,834 Fully Leased NEI Global Relocation and United Healthcare North Park 7B 2707 N 117th Circle 49,101 Fully Leased NEI Global Relocation North Park N 118th Circle 68,388 Fully Leased AAA Life, TPG (TPG subleased 1st floor space to Safe Haven Securities) 691,518 5,920 Vacancy Rate: 1%

7 NORTH PARK OFFICE PARK SITE PLAN RESTAURANT RETAIL RETAIL ARCHITECTURAL OFFICE BUILDING FITNESS BELLEVUE UNIVERSITY RETAIL BUILDING RB COUNTRY INN AND SUITES HOTEL RETAIL NORTH PARK 1 NORTH PARK 4B NORTH PARK 4A NORTH PARK 5 NORTH PARK 7B NORTH PARK 7A NORTH PARK 8 NORTH PARK 3 NORTH PARK 2 NORTH PARK 6

8 AMENITIES MAP FITNESS FACILITY NORTH PARK BUILDING 8 NORTH PARK BUILDING 7B NORTH PARK BUILDING 7A CAMELOT CLEANERS CHINA BUFFET CILANTRO S DJ S DUGOUT SPORTS BAR FETA S GREEK RESTAURANT

9 AERIAL NORTH PARK BUILDING 8 NORTH PARK BUILDING 7B NORTH PARK BUILDING 7A

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11 With approximately 961,000 residents within the Greater Omaha area, the region is known for its beef, but a major cash cow is also technology. The modern economy is diverse and built primarily on skilled knowledge jobs. Omaha sits on the banks of the Missouri River and boasts a steady economy with a low unemployment rate and an affordable cost of living which proves enticing for both companies and families. It s been named one of the Top 10 Cities to Raise a Family. Parents love the Henry Doorly Zoo and Aquarium which has been ranked one of the best zoos in the world by TripAdvisor. Baseball fans throughout the country converge on the Big O every year for the College World Series. Home to the Oracle of Omaha Warren Buffett, his company, Berkshire Hathaway is one of four Fortune 500 companies in the country s 59th largest city. Over the past few decades, the Omaha area has been growing by about 1.2% per year. It is the 39th fastest growing metro area in the nation. Despite that growth, Omaha is known as a 20-minute city. Residents and visitors can travel nearly anywhere in town in a short amount of time, making it a convenient place to live, play and work. OMAHA OFFERS BUSINESSES: FORTUNE 500 ANCHORS: Strategic, central location Hub of the nation s fiber connectivity Pro-business climate; low cost of doing business Business incentives that reward performance Stable and healthy economy Educated, motivated and affordable workforce Savings on real estate costs Lower cost of living Available, reliable utilities FORTUNE 1,000

12 Top States, Gallup Job Creation #5 Index (Nebraska) #2 Best Places to Live (Papillion, Nebraska) #2 #3 Best City to Find a Job Best States for Doing Business (Nebraska) The U.S. Healthcare #1 Affordability Index # s Best Cities to Work for a Small Business

13 OMAHA MAP 75 MISSOURI RIVER 30 H A RRISON I OWA D O D G E WASH I N GTON BLAIR FREMONT SAUNDE R S 275 D O U G L A S OMAHA PAPILLION COUNCIL BLUFFS BELLEVUE POTTAWATTAM I E 80 SAR P Y PLATTSMOUTH M I LLS LINCOLN C ASS 75 29

14 NORTH PARK BUILDINGS 7 & NORTH 118TH STREET, 2717 NORTH 118TH STREET AND 2909 NORTH 118TH STREET, OMAHA, NE EMBER GRUMMONS, CCIM Investors Realty, Inc (O) egrummons@investorsomaha.com J.P. RAYNOR, J.D. Investors Realty, Inc jpraynor@investorsomaha.com Davenport Street Omaha, NE