OFFERING MEMORANDUM VERIZON & MATTRESS ONE ST. CLOUD (ORLANDO MSA), FLORIDA

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1 OFFERING MEMORANDUM VERIZON & MATTRESS ONE ST. CLOUD (ORLANDO MSA), FLORIDA Exclusive Listing Presented by: Brandon Bennington Sales Associate with Charles Rutenberg Realty LLC (786) License: FL

2 FINANCIAL OVERVIEW Price Cap Rate Price/SF Address th St. St. Cloud, FL Year Built 2015 Lot Size /- Acres Tenant GLA % of GLA Annual Rent Rent / SF Rent Commencement Lease Expiration Options Changes On Changes To Mattress One 4, % 95,712 $ /21/ /31/2022 Two, 5-Year Year 4 $97,620 Year 5 $99,584 Year 6 $101,575 Year 7 $103,607 Verizon 3, ,927 $ /24/2015 4/30/2025 Two, 5-Year Year 5 $113,190 Year 6 $115,500 Year 7 $117,810 Year 8 $120,166 Year 9 $122,570 Year 10 $125,021

3 Investment Overview Leases running through 2022 and 2025 Built in 2015 with 20 Year roof warranty Cellular Sales of Knoxville is the Largest Verizon Wireless Franchisee in the U.S. with Over 600 Locations Rare 2% Annual Increases in Mattress One s Lease, Over 150 Locations Throughout Florida Adjacent to Publix Grocery Anchored Shopping Center and Across from 24-Hour Walmart Supercenter, Aldi, Staples and Home Depot Surrounded by Thousands of Apartment Units and Several Established Residential Neighborhoods Excellent Visibility Along US 192/441 with Over 40,000 Cars Per Day 1 Mile from St. Cloud Regional Medical Center with 450 Employees Close Proximity to Dozens of Schools with more than 10,000 Students, Including Saint Cloud High School, Gateway High School and Neptune Middle School with 5,700 Students Combined Excellent Access to Florida Turnpike, Connecting Residents to Orlando, Tampa and Miami High Growth Market, Population Increased 57% between and Expected to Grow an Additional 15% by 2018 Approximately 20 Miles From Orlando International Airport, Lake Nona Medical City, Walt Disney World, Universal Studios and Sea World Area Overview St.Cloud is located within the Orlando MSA and is near major tourist destination such as Walt Disney World, Kennedy Space Center, and several other theme parks nearby. The area offers great year-round weather and is one of the fastest growing communities in Florida.

4 Tenant Overview Rent Commencement 10/21/2015 Lease Expiration 10/31/2022 Rent Commencement 4/24/2015 Lease Expiration 4/30/2025 Gross Leasable Area 4,000 SF Gross Leasable Area 3,000 SF Pro Rata Share of Project 57.14% Pro Rata Share of Project 42.86% Original Term 7 Years Original Term 10 Years Options Two, 5-Year Options Two, 5-Year Increases 2% Annually Increases 10% Every Five Years Years Remaining 7 Years Years Remaining 10 Years Number of Locations 200+ Number of Locations 600+ Headquartered Orlando, Florida Headquartered Knoxville, Tennessee Website Website Mattress1 One is the #1 mattress store for Florida and Texas residents shopping for a great price on top name brand mattresses like Tempur-Pedic, icomfort, Sealy, Serta, Simmons, Stearns and Foster, and Kingsdown. They carry a full line of mattresses including traditional, gel foam and memory foam mattresses in all sizes from twin to king and everything in between. They have more than 200 stores conveniently located throughout Florida and now in Houston, Texas to make mattress shopping convenient, quick, and easy. Cellular Sales is a management company that operates authorized wireless phone stores for Verizon Wireless throughout the South, Midwest, and Atlantic regions of the United States. They are the largest exclusive dealer in each of their operating regions and are currently in the process of expanding their retail system throughout the nation. Cellular Sales was founded in Knoxville, TN in 1993 and continues to expand and grow.

5 TENANT OVERVIEW Lardlord Responsibilities Landlord shall keep in good repair, maintain, and replace, when and if necessary, all structural components of the leased premises. Teneant Responsibilities Cam Taxes Tenant shall, at Tenant s expense, and throughout the term, keep in clean, sanitary, and safe condition the leased premises, and except for the repairs Landlord is specifically obligated to make including, but not limited to, the exterior and interior doors, windows, ceiling fixtures, carpets and floor coverings, interior wall surfaces and coverings, electrical systems, HVAC systems, appliances, and plumbing systems and fixtures from the point of entry into the leased premises. Landlord shall keep in a clean, sanitary, and safe condition all common areas and make all necessary repairs to the common areas. Tenant shall pay, as additional rent, Tenant s pro rata share of the costs and expenses incurred by Landlord in the performance of the CAM obligation. CAM charges shall include, without limitation, those costs and expenses related to the repair and maintenance of the roof, walls, and other structural portions of the building; trash, rubbish, garbage, lighting fixtures, gardening, irrigation (including costs of water), and landscaping; repairs, restriping and repaving of the parking areas; and a management fee not to exceed 4% Tenant shall pay, as additional rent, Tenant s pro rata share of real estate taxes. Insurance Utilities Assignment & Subletting Tenant agrees to procure and maintain, at its sole cost and during the term a commercial general liability policy with combined coverage limits of not less than $1,000,000 per occurrence and building insurance with limits not less than replacement cost. Landlord agrees to procure and maintain, at the cost of Tenant as provided in the additional rent section of this lease and during the term a commercial general liability policy with combined coverage limits of $2,000,000 per occurrence and building insurance with limits not less than replacement cost. Tenant shall pay directly to the utility service providers all costs for utilities consumed on the leased premises, including electricity, water, gas, and sewer. Tenant shall maintain a service contract with a minimum of semi services to all HVAC systems. Tenant may not sublease the leased premises or any portion thereof nor assign this lease without obtaining Landlord s written consent, which may not be unreasonably delayed or withheld. Estoppel Tenant shall provide an executed estoppel 10 days following receipt of request.

6 TENANT OVERVIEW Landlord Responsibilities Tenant Responsibilites CAM Taxes Insurance Landlord shall keep in good repair, maintain, and replace, when and if necessary, all structural components of the leased premises. Tenant shall, at Tenant s expense, and throughout the term, keep in clean, sanitary, and safe condition the leased premises, and except for the repairs Landlord is specifically obligated to make including, but not limited to, the exterior and interior doors, windows, ceiling fixtures, carpets and floor coverings, interior wall surfaces and coverings, electrical systems, HVAC systems, appliances, and plumbing systems and fixtures from the point of entry into the leased premises. Landlord shall keep in a clean, sanitary, and safe condition all common areas and make all necessary repairs to the common areas. Tenant shall pay, as additional rent, an amount equal to Tenant s pro rata share of the costs and expenses incurred by Landlord in the performance of the CAM obligation. CAM charges shall include, without limitation, those costs and expenses related to the repair and maintenance of the roof, walls, and other structural portions of the building; trash, rubbish, garbage, lighting fixtures, gardening, irrigation (including costs of water), and landscaping; repairs, restriping and repaving of the parking areas; and a management fee not to exceed 4%. Tenant shall pay, as additional rent, Tenant s pro rata share of real estate taxes. Tenant agrees to procure and maintain, at its sole cost and during the term a commercial general liability policy with combined coverage limits of not less than $2,000,000 per occurrence and building insurance with limits not less than replacement cost. Utilities Assignment & Subletting Landlord agrees to procure and maintain, at the cost of Tenant as provided in the additional rent section of this lease and during the term a commercial general liability policy with combined coverage limits of $2,000,000 per occurrence and building insurance with limits not less than replacement cost. Tenant shall pay directly to the utility service providers all costs for utilities consumed on the leased premises including electricity, water, gas, and sewer. Tenant may not sublease the leased premises or any portion thereof nor assign this lease without obtaining Landlord s written consent, which may not be unreasonably delayed or withheld. Estoppel Tenant shall provide an executed estoppel 20 days following receipt of request.

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