I n v. e s t m e n t. i l d i n g. 3 - B u. Downtown Mixed-Use. o i. S a l. e P

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1 3 - B u i l d i n g I n v e s t m e n t Dwntwn Mixed-Use S a l e P r t f l i

2 Executive Summary CBRE, Inc., as exclusive advisr t the Seller, is pleased t ffer a cllectin f unique Prperties centered in the heart f dwntwn Olympia. The Olympic/Dwntwn Prtfli is cmprised f three vintage Prperties within.5 miles f each ther and apprximately ne mile frm the Washingtn State Capitl. As evidenced by the 100% ccupancy rate, this mixed-use prtfli is a great pprtunity fr investrs seeking current yield and stability, with pricing that prvides bth dwnside prtectin and upside ptential. Having accumulated the Prtfli ver a 30-plus year perid and increasing value thrugh management, renvatin and lease up as well as thrugh the maturatin f the City f Olympia the Seller is nw lking t dispse the stabilized assets and allw the next generatin f wnership t cntinue with and benefit frm this prcess. The ffering is being presented t qualified investrs and, while Seller is amendable t a variety f appraches, there is a strng preference t transact n a prtfli basis. Investrs will benefit frm the lcatin f the Prperties in the heart f dwntwn. Investrs interested in the Prtfli are encuraged t discuss with CBRE and t pursue cncepts that best fit their criterial and needs. The Prtfli is being ffered n an as-is, where-is basis, with the wner prepared t review and respnd ffers as received. In additin, the wnership is prepared t supprt peratinal success by engaging in a management cntract at market rates fr a perid f time fllwing clse. Individual detail regarding each f the prperties is included in the fllwing pages, while a summary f pertinent metrics can be seen belw. Fr additinal detail, please cntact CBRE with inquiries. DOWNTOWN PORTFOLIO ASKING PRICE $8,780,000 CAPITALIZATION RATE 6.58% TOTAL NET RENTABLE SQUARE FEET 51,288 SF PRICE PER SF $ OCCUPANCY 100% TENANTS 13 COMMERCIAL/21 APARTMENTS DOWNTOWN PORTFOLIO OLYMPIA OVERVIEW Named after it s stunning view f the Olympic Muntains, Olympia is situated in the suthernmst prtin f the Puget Sund regin. Discvered by Peter Puget in 1792, the city s ppulatin is estimated at apprximately 50,000 and was listed as ne f the Tp 25 Fastest Grwing Areas in the cuntry by the U.S. Census in Olympia s central dwntwn area is lcated clse t the water, prviding visitrs with incredibly scenic views in additin t a variety f small retail shps and eclectic dining experiences. As the Capital city f Washingtn State, the city s tp emplyer is the State f Washingtn, which prvides a healthy, steady incme t many residents and underscres a resiliency and stability f the area wrkfrce. Furthermre, with nging plans t redevelp the Prt f Olympia, there is strng supprt fr bth ecnmic develpment and jb grwth within the area. Hme t bth Evergreen State cllege and Suth Puget Sund Cmmunity Cllege, Olympia was named ne f America s Clest Cllege Twns by Travel and Leisure. Olympia has a well-educated ppulatin with mre than 45% f the ppulatin hlding a bachelr s degree r higher. As a result, many students, artists, and musicians migrate t the area, drawn t the well-supprted schl system, accessibility t the utdrs, and vibrant art culture. Olympia was ranked 1st as the mst affrdable city in Washingtn State by Livability.cm. Its prximity t hydrelectric pwer prvides the city with sme f the lwest utility csts in the cuntry. While husehld median incme is $54,017, the median hme price is arund $240,800 prviding an affrdability index that has helped it scre a spt-n Livability s 100 Best Places t live list fr bth 2015 and ~1~

3 FRANKLIN STREET Aerial Map SWANTON MARINA & BOATWORKS EAST BAY DRIVE NORTHEAST PORT PLAZA OLYMPIA FARMER S MARKET JEFFERSON STREET HAND S ON CHILDREN S MUSEUM INTERCITY TRANSIT STATE AVENUE NE HERITAGE PARK CAPITOL WAY THE MARTIN HARRIS DRYGOODS 5TH AVENUE ORCA BOOKS ADAMS STREET US POSTAL SERVICE WA STATE DEPT. NATURAL RESOURCES STATE CAPITOL EMPLOYMENT SECURITY DEPARTMENT WA STATE DEPT. TRANSPORTATION WEST BAY EAST BAY DRIVE INTERSTATE 5 ~2~

4 Orca Bks 509 4TH AVE E, OLYMPIA, WA Cnveniently placed n the crner f 4th and Jeffersn, 509 4th Ave East sits ne blck away frm City Hall and directly in the heart f Olympia s dwntwn area. Built in 1925, this building is fully leased with tw lngstanding tenants. With a walk scre f 91, the 509 4th Ave East prperty ffers investrs a stable incme stream via a strng ccupancy histry tgether with an excellent lcatin in the dwntwn cre f rapidly grwing Olympia. PROPERTY HIGHLIGHTS ASKING PRICE $1,785,000 PSF - $ CAP RATE 6.76% SQUARE FOOTAGE 12,287 NOI $120,608 OCCUPANCY 100% NUMBER OF TENANTS: 3 VINTAGE BUILDING LONG STANDING TENANTS ATTRACTIVE DOWNTOWN LOCATION WALK SCORE OF 91 ~3~

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6 The Martin TH AVE SE, OLYMPIA, WA The Martin building is hme t a diverse grup f tenants that cntribute t the eclectic nature f Olympia s histric Dwntwn district. Cnstructed in 1920 the Martin building has hsted a number f ntable tenants including M.M. Mrris ladies apparel stre, and, during the first Wrld War was hme t the Minute Wmen, a grup that helped cllect funds fr war bnds. A distinct cmmunity t itself, The Martin cntinues its legacy as an integral part f Olympia s histric dwntwn area. PROPERTY HIGHLIGHTS ASKING PRICE - $4,813,000 PSF - $ CAP RATE 6.25% SQUARE FOOTAGE 26,695 NOI - $301,032 OCCUPANCY: 100% APARTMENTS. 21/7 COMMERCIAL TENANTS VINTAGE BUILDING WITH DOWNTOWN LOCATION MIXED USE NATURE: COMMERCIAL RESIDENTIAL UNPARALLELED COMMUNITY ATMOSPHERE EXTENSIVE WAIT LIST FOR APARTMENT TENANCY ~5~

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8 Harris Drygds CAPITOL WAY OLYMPIA, WA The Harris Drygds building has cemented its name as ne f the mst imprtant cmmercial lcatins in Olympia. Originally built by Isaac Harris and perated as the Grainger Stable, the building is nw a part f the histrical registry and has becme an icn fr the dwntwn area. Currently hme t three lng standing tenants this building has been renvated t fit the needs f its tenants and is fully leased. PROPERTY HIGHLIGHTS ASKING PRICE - $2,182,000 PSF - $ CAP RATE 7.15% SQUARE FOOTAGE 12,306 NOI 155,738 OCCUPANCY 100% NUMBER OF TENANTS: 3 HISTORIC, VINTAGE BUILDING EXCELLENT CURB APPEAL IDEAL DOWNTOWN LOCATION ~7~

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10 3 - B u i l d i n g I n v e s t m e n t Dwntwn Mixed-Use S a l e P r t f l i Cntact Inf STEVE BRUNETTE FIRST VICE PRESIDENT STEVE.BRUNETTE@CBRE.COM ALLISON JONES ASSOCIATE ALLISON.JONES@CBRE.COM 2018 CBRE, Inc. All rights reserved. This infrmatin has been btained frm surces believed reliable, but has nt been verified fr accuracy r cmpleteness. Any prjectins, pinins, r estimates are subject t uncertainty. The infrmatin may nt represent the current r future perfrmance f the prperty. Yu and yur advisrs shuld cnduct a careful, independent investigatin f the prperty and verify all infrmatin. Any reliance n this infrmatin is slely at yur wn risk. CBRE and the CBRE lg are service marks f CBRE, Inc. and/r its affiliated r related cmpanies in the United States and ther cuntries. All ther marks displayed n this dcument are the prperty f their respective wners. Phts herein are the prperty f their respective wners and use f these images withut the express written cnsent f the wner is prhibited. PMStudi_03_2018