Proposal Analysis. 1 st Year Monthly Gross. Space Size SF. Office Space. Free Rent. Building Expenses. Rental Rate. TI Allowance.

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2 Proposal Analysis No. Property Photo Park/Address Space Size SF Office Space Term Free Rent Rental Rate Building Expenses TI Allowance Annual Increases 1 st Year Monthly Gross 1 st Year Annual Gross Comments Riverside Business Center 280 Riverside Parkway, SW Austell, GA ,394 BTS 124 Months 4 Months $5.15 NNN $0.85 $17/SF 2.75% $58, $704, Delivers March Ductilcrete slab Lakeview Business Park 105 Lakeview Court Atlanta, GA ,584 BTS 124 Months 4 Months $5.11 NNN $0.85 $17/SF 2.5% $53, $647, Delivers March Proposed $4.20/SF NNN with $11/SF TI - Ashford sealer

3 Proposal Analysis

4 1 Riverside Pky - Riverside Business Center - Building E Copyrighted report licensed to NAI Brannen Goddard /12/2018 Page 1

5 REVISED PROPOSAL Prepared for The Winebow Group Riverside Business Center Building E 280 Riverside Parkway Austell, GA January 12, 2018

6 Project Summary & Highlights RIVERSIDE BUSINESS CENTER, BUILDING E AUSTELL, GA Building Location 280 Riverside Parkway SW, Austell, GA Total Building Square Footage Total Leased Square Footage 174,463 SF 117,394 SF Beneficial Occupancy April 30, 2018 (Assuming lease execution by 1/30/18) Lease Commencement Date July 1, 2018 Monthly Base Rent Rent Abatement Operating Expense Estimate 2017 Tenant Improvements Office Area Warehouse Area Column Spacing Slab Thickness Dock-High Doors Drive in Doors Clear-Height Car Parking Fire Protection Lighting Warehouse HVAC Lease Term Rental Rate Rent Abatement Escalations 124 Months $5.15/SF NNN 4 month 2.75% Four (4) month Base Rent Abatement with operating expenses due. Taxes: $0.47/SF Insurance: $0.06/SF CAM: $0.32/SF Section II contains Landlord s response to Tenant Improvements 12,500 SF per Office Allowance ($65/SF) 104,594 SF 54 (W) x 50 (D); staging is 54 (W) x 60 (D) 6 thick, 4000 psi, Ductilcrete System 26 doors (10 equipped with 40,000 LB mechanical levelers, lights, seals, locks) 1 drive-in doors 32 clear height inside the first column line Approximately 79 auto spaces ESFR system LED lighting to achieve 30 FC (two rack aisles per bay) Assuming not to exceed temperature of 68 degrees at ASHRAE Atlanta. 280 tons of conventional roof top mounted A/C units provided. Additional wall insulation included as well. Riverside Business Center, Building E Austell, GA

7 Response to RFP RFP Request IDI Logistics Response Building Riverside Business Center Building E Riverside Parkway Austell, GA Agreed. Tenant The Winebow Group Acknowledged. Total SF Approximately 100, ,000 square feet Commencement July 1, 2018 with beneficial occupancy upon Tenant s Build Out CO 117,394 SF at Riverside Business Center, Building E is being proposed. See Site Plan for details. Accepted, assuming a Lease execution no later than January 30, Lease Term Please propose a 7 and 10-year deal. 124 months Rent Concessions Please state the amount of free rent the building is willing to provide outside the term. Four (4) month of Base Rent abatement Rental Rate Please base your proposal on a NNN lease basis. Please stipulate what additional charges Tenant shall be responsible for and your estimate of how much these charges will be, as well as any other charges over and above base rent. $5.15/SF NNN annual Base Rent Escalation Please provide your quoted escalation rate on the rental rate. 2.75% Operating Expenses Please provide details of your property s operating expenses. Please provide a five percent (5%) annual cap on Controllable Operating Expenses. Taxes: $0.47/SF Insurance: $0.06/SF CAM: $0.32/SF A 7% cap on operating expenses shall be provided on a cumulative and compounding basis. Riverside Business Center, Building E Austell, GA

8 Response to RFP RFP Request IDI Logistics Response Tenant Improvements Landlord will turnkey all tenant improvements based on a mutually agreed upon plan. Landlord will provide an office space plan for 12,000 SF of main office and 800 SF of shipping office (use Allowance of $65/SF) see Exhibit A. T-5 motion sensor lights in warehouse to be installed around Tenant s racking plan. Dock doors (10 equipped with 40,000 lb. mechanical levelers, lights, seals, locks). Add 14 forklift charging stations. Add 4 exhaust fans in warehouse. Landlord to provide one concrete ramp. HVAC in warehouse to maintain temperature of 65. Switchgear Landlord has provided a Tenant Office Allowance of $65/SF for a total of 12,800 SF of Office related areas, or a total of $832,000. Landlord has provided for LED high bay fixtures providing 30 FC at 36 AFF, assuming two rack aisles per bay. Motion sensors included in rack areas only. Landlord has provided for 10 sets of Rite Hite Air Bag AL-900 dock Levelers, Rite Hite GHR-700 Dock Locks with combo control, LED swing arm lights and standard Frommelt dock seals. Included 14 charging stations located within 100 feet of the main switchgear. No ventilation included in light of the warehouse air conditioning. Included. Landlord has provided for a total of 280 tons of conventional roof top unit supplied air conditioning with drop down duct. Wall insulation provided per code. Total Tenant A/C and Insulation Allowance of $590,000 Landlord has provided for one (1) 2000 Amp switchgear set for the entire premises rated at 480V/3ph. Two (2) Turbo Dock Dual Electric Car Chargers are included. Location of Space Within Building Please provide a PDF layout. Please see attached Site Plan. Riverside Business Center, Building E Austell, GA

9 Response to RFP RFP Request IDI Logistics Response First Right of Offer Tenant shall have an ongoing right of first offer on all available contiguous space. Tenant shall give Landlord written notice to accept/reject its right of first refusal within ten (10) days of written notice from Landlord. Such space shall be incorporated at the Tenant s existing rental rate, a prorated tenant improvement allowance shall be provided by Landlord, and the expansion space shall be coterminus with the initial space. Landlord will provide a one-time Right of First Offer on contiguous available space. Right to Expand Tenant shall have a right to expand into any available vacant space in the building at the same terms and conditions of their lease. See response above. Existing Rights Please indicate which spaces in the building are encumbered by other tenants existing expansion rights or rights of first refusal. None at this time. Options to Renew Tenant shall have one (1) five-year option to renew all or part of its premises upon six months prior written notice to Landlord, rental rate shall be at the current market rate. One (1), five (5) year Renewal Option is available with nine (9) months prior written notice prior to lease expiration at Fair Market Value. Sublease and Assignment Rights Tenant shall have the right to sublet all or part of the Premises at any time with the Landlord s consent which shall not be unreasonably withheld or delayed. No consent shall be required for occupancy by any subsidiary or affiliate of the Tenant. Tenant shall be required to seek written approval from the Landlord for any assignment or sublease, which consent shall not be unreasonably withheld. Non-Disturbance Agreement Tenant to receive appropriate non-disturbance agreements from the fee owner and all mortgagees. Said agreements to be delivered within six (6) months of the execution date of the lease. Acknowledged. Riverside Business Center, Building E Austell, GA

10 Response to RFP RFP Request IDI Logistics Response Signage Please describe the availability of building or pylon signage to Tenant. Signage is included in Tenant Improvement, subject to: (i) Landlord s review and approval of relevant plans and specifications; (ii) compliance with applicable law; and, (iii) if installation involves roof penetration, Landlord must approve contractor. Access Tenant shall have 24 hours per day, 7-days per week, 52 weeks per year access to the Premises, the building and the parking facilities without the requirement of prior notice to the building s management. Accepted. Brokerage Tenant has selected NAI/Brannen Goddard for this project. It is understood that Landlord shall pay NAI/Brannen Goddard a standard/full commission for its efforts per a separate agreement. Brokerage Commissions shall be paid pursuant to the Commission Agreement provided between Landlord and Broker. Riverside Business Center, Building E Austell, GA

11 Market Aerial Riverside Business Center, Building E Austell, GA

12 Region Map Riverside Business Center, Building E Austell, GA

13 Market Map Riverside Business Center, Building E Austell, GA

14 Site Plan Riverside Business Center, Building E Austell, GA

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16 January 511, 2018 VIA Mr. Stephen Pond Mr. Nathan Anderson NAI Brannen Goddard 5555 Glenridge Connector Suite 1100 Atlanta, GA RE: Proposal for Office/Warehouse Facility Lakeview Business Park Dear Gentlemen, Please accept the following as a formal revised proposal to lease office-warehouse space to your client, The Winebow Group. In this proposal I have offered approximately 108,584 square feet in our new building at Lakeview Business Park. Please review the following proposal and call me with any questions or concerns. I look forward to working with you through this process. Sincerely, Seefried Properties, Inc. Doug Smith Senior Vice President cc. Greg Herren, SIP Tom Flanigan, Clarion Partners

17 Proposal to Lease Lakeview Business Park January 511, 2018 GENERAL TERMS AND CONDITIONS Building Location: Total Facility: Leased Premises: Office Space(s): Term: Year One Base Rental Rate: Lakeview Business Park Lakeview Court South Fulton, Georgia Approximately 163,988 Square Feet Front Load Approximately 108,584 Square Feet as identified separatelyin Exhibit A attached. BTS per the Improvement Allowance One Hundred Twenty Three Four (123124) months Three Four month s base rent free only. All operating expenses due during the free rent period. $ per square foot per year, NNN Escalations: 2.755% per annum beginning in Year 2 Lease Commencement Date: Option to Renew: Right of First Opportunity: Move in Condition: Lease Structure: July 1, 2018 or upon the completion of the Tenant Improvements With nine (9) month s prior written notice, Tenant shall have one (1) renewal option of a term of five (5) years at Fair Market Value for the entire premises. Tenant shall have a one-time right of first opportunity to lease all available continuous space. Tenant shall give Landlord written notice to accept or reject its right of first opportunity within seven (7) days of written notice from Landlord. The terms and conditions of the ROFO to be determined and detailed in the Lease. First Generation, Shell Building. The premises and all mechanical and other systems thereof (e.g., roof, HVAC system, plumbing/electrical, interior/exterior walls, loading doors, levelers, parking lots, etc.), to be broom clean, in new condition, with no deferred maintenance. Standard Industrial Net Lease. Tenant is responsible for its prorata share of taxes and insurance estimated at $.40/S.F. and $.05/S.F, respectively. Utilities, CAM, and individual operating expenses are the responsibility of Tenant. CAM is currently estimated to be $.40/S.F. CAM includes but is not limited to

18 Proposal to Lease Lakeview Business Park January 511, 2018 water, sewer, landscaping, property management fees, and outside shared utilities. Landlord shall cap all Landlord controlled expenses over and above the first full year actual expenses at 8% per annum on a cumulative and compounding basis. Building Systems: Tenant Improvements: Additional TI Allowance: Insulated Panels: Warehouse Lights: All building systems will be placed in good working order. Landlord shall provide Tenant with an initial improvement allowance equal to $11.00/sf which shall be used to complete a portion of the necessary improvements outlined in the request for proposal. The Landlord and Tenant will mutually agree to the configuration of the final improvement plan to the premises. Landlord shall provide Tenant with an additional $6.00 per square foot in additional TI, which shall be used for the completion of the improvements as detailed in the RFP. Should Tenant elect to utilize this additional TI, then the rental rate will be increased by $0.91 per square foot and subject to the same term and escalations as the Base Rent. Landlord s contractor has suggested that due to the temperature requirement listed in the RFP, that there is a need for insulated panels to be installed in the space. The cost for this is $325,000, which Landlord is willing to fund and should Tenant elect to have Landlord install and fund, the base rental rate shall be increased by $0.43 per square foot and subject to the same term and escalations as the Base Rent. BTS per the Improvement Allowance Building Depth: 200 Column Spacing: Dock Locations: Building Clear Height: Automobile Parking: Trailer Parking: Truck Court: 54 w x 46 8 d with 60 speed bay Thirty (30) 9 x 10 dock doors One (1) 12 x 14 drive in doors 32 Clear at first column line from dock doors. 56 existing Approximately 8 existing 120 to 185 deep, with 60 deep concrete apron.

19 Proposal to Lease Lakeview Business Park January 511, 2018 Building Construction: Sprinklered: Security Deposit: Prepayments: Space Planning: Signage: Commission: Contingency: Tilt-up construction. Fully-sprinklered to provide a rating of 75 psi utilizing ESFR technology. To be determined upon a formal review of Tenant s most recent financial statements. Upon execution of the Lease document by Tenant, Tenant shall pay to Landlord the first month s rent plus pro rata pass through expenses as well as the security deposit. Landlord will provide all reasonable preliminary space planning and construction documents at its sole cost. Tenant, at its own expense may place a sign on the building and monument signage following the Landlord s guideline for signage and jurisdictional regulations. Landlord agrees to pay NAI Brannen Goddard a market commission per a separate agreement. This proposal constitutes only an expression of intent and does not constitute a binding agreement between signatories to consummate the transactions contemplated hereby, consummation of the transaction being specifically subject to the negotiation and execution of a definitive agreement embodying the terms and conditions as outlined herein. The terms as presented herein are wholly contingent upon Landlord s review and approval of Tenant s year to date and prior three year audited financial statements or Federal Tax Returns, prior leasing, and execution of the Lease Agreement by all parties. Landlord reserves the right to contract for hire all design, construction, and development firms as it feels appropriate given this project. The terms and conditions of this proposal are available to your client until January 12, 2018.

20 Proposal to Lease Lakeview Business Park January 511, 2018 Exhibit A