FOR SALE - Under Construction Multi-Tenant NNN Leased Investment Gateway Village at Town Center - Jacksonville, Florida

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1 FOR SALE - Under Construction Multi-Tenant NNN Leased Investment Gateway Village at Town Center - Jacksonville, Florida West Elevation East Elevation SALES PRICE: $5,855,233 CAP RATE: 6.0% INVESTMENT HIGHLIGHTS NNN Investment Brand New Construction Three tenant building with Burrito Gallery, MHospitality, and 1,433 SF of Shop Space New 10 year leases with escalations Located in the Town Center sub-market of Jacksonville Significant barriers to entry in the market Representative Photo North Elevation Part of an 18-acre mixed-use development with multi-family, shop space and a RaceTrac gas c-store Close proximity to the highly successful St. Johns Town Center Eight Million SF of office space within a 2.5 mile radius with over 625,000 SF of additional office space under construction Over 1,100 multi-family units planned or under construction within a one mile radius

2 MARKET SUMMARY The property is part of the Gateway Village at Town Center development. Gateway Village is a new mixed-use development located in the Town Center market of Jacksonville, Florida. The development includes 300 multi-family units, retail, and medical uses. This trade area is the fastest growing submarket of Jacksonville. The success of the St. Johns Town Center has spurred tremendous growth including extensive retail office, and residential development. Retailers in the St. Johns Town Center include Nordstrom, Dillard s, Apple, Microsoft, REI, Best Buy, Target, Publix, and PGA Superstore. Additionally, there are many restaurant offerings including Capital Grille, Coopers Hawk, Fogo de Chao, Buffalo Wild Wings, Red Robin, Firebirds, Cheddar s and Chuy s. This is the destination retail shopping center in Jacksonville and draws customers from all of northeast Florida and southeast Georgia. There are over eight million square feet of office space within a 2.5-mile radius of the property, with an additional 625,000 square feet planned or under construction. This includes headquarters for Web.com, Availity, and Mckesson. These three employers will bring an estimated 2,000 jobs to the market within the next year and a half. Other major employers in the area include Deutsche Bank, the FBI, and Adecco. In addition to the strong office presence, there is a rapidly increasing population in the market due to the construction of new single and multi-family developments in the area. This includes over 1,100 multi-family units currently planned or under construction within a mile of the property. The strategic location in the rapidly growing Town Center provides an excellent opportunity for investors looking for trophy real estate with strong tenants.

3 AREA RETAIL & NEW DEVELOPMENT

4 NEW DEVELOPMENT SOUTH OF BUTLER

5 OVERALL GATEWAY VILLAGE SITE PLAN

6 RETAIL BUILDING SITE PLAN

7 CONSTRUCTION PHOTOS

8 INVESTMENT OVERVIEW OVERVIEW This is a great opportunity to purchase an under construction multi-tenant NNN leased investment in the vibrant Town Center Trade area of Jacksonville, Florida. Tenants include Burrito Gallery, MHospitality and 1,433 SF of Shop Space. Each tenant has 10-year lease with escalations. This is a great investment opportunity for investors looking for a long-term, stable investment with limited landlord responsibilities in the highly sought after Town Center trade area of Jacksonville. HIGHLIGHTS Brand new construction New 10 year leases Limited landlord responsibilities Increases in the initial terms and option periods Located in the high barrier to entry Town Center Market

9 PROPERTY INFORMATION & EXECUTIVE SUMMARY PROPERTY INFORMATION CURRENT NET OPERATING INCOME Property: Gateway Village Tenants: Burrito Gallery, 1,433 SF of Shop Space, MHospitality Property Address: SWC Gate Parkway & Deerwood Park Blvd Jacksonville, Florida Acreage: 1.77 Building Sq. Ft.: 9,520 Year Built: Under Construction; Completion Scheduled for 1st Quarter of 2019 PRICING Net Operating Income: $351,314 Cap Rate: 6.0% List Price: $5,855,233 Income Analysis: Expense Analysis: Net Operating Income: Base Rent Burrito Gallery $149, $35.75 Base Rent Shop Space $57, $40.00 Base Rent Mhospitality $144, $37.00 Reimbursed CAM $26, $2.75 Reimbursed Insurance $9, $1.00 Reimbursed Real Estate Taxes $42, $4.50 Effective Gross Income $429, $45.15 CAM $26, $2.75 Insurance $9, $1.00 Real Estate Taxes $42, $4.50 Total Expenses $78, $8.25 Effective Gross Income $429, $45.15 Total Expenses $78, $8.25 $351, $36.90

10 RENT ROLL Tenant Name Burrito Gallery Shop Space MHospitality SQUARE FEET 4,180 1,433 3,907 LEASE TERM RENTAL RATES EXPENSES BEGIN END TERM RENTAL RATE PSF ANNUALLY MONTHLY CAM/INSURANCE/RE TAXES TBD 10 Year Term Year 1 Years 2-10 Options: Period 1 Period 2 Years Years TBD 10 Year Term Years 1-5 Years 6-10 Options: Period 1 Period 2 Years Years TBD 10 Year Term Year 1 Years 2-10 Options: Period 1 Year 11 Years Period 2 Year 16 Years $35.75 $149, Annual 2% Increases Fair Market Rent Fair Market Rent $40.00 $57, $44.00 $63, $48.40 $69, $53.24 $76, $37.00 $144, Annual 2.25% Increases $46.22 $180, Annual 2.25% Increases $51.66 $201, Annual 2.25% Increases $12, Full Pro-Rata $4, Full Pro-Rata $5, $5, $6, $12, Full Pro-Rata $15, $16, TOTAL: 9,520 Year 1 $36.90 $351, $29,276.17

11 TENANT INFORMATION PROPERTY INFORMATION Tenant: Burrito Gallery Leased Area: 4,180 Lease Commencement: TBD - Projected 1st Qtr Lease Expiration: 10 years after Commencement Initial Lease Term: 10 years Options: Two (2) five (5) year options Lease Type: NNN Guaranty: 7 Year Personal Guaranty Rent Increases: 2% Annual Increases RENT SCHEDULE Lease Years: Annual Rent: 1 $149, Annual 2% increases (Option Period 1) TBD (Option Period 2) TBD PROPERTY INFORMATION Tenant: Shop Space Leased Area: 1,433 Lease Commencement: TBD - Projected 1st Qtr Lease Expiration: 10 years after Commencement Initial Lease Term: 10 years Options: Two (2) five (5) year options Lease Type: NNN Guarantor: Personal Rent Increases: 10% Increases every five years RENT SCHEDULE Lease Years: Annual Rent: 1-5 $57, $63, (Option Period 1) $69, (Option Period 2) $76,293

12 TENANT INFORMATION PROPERTY INFORMATION Tenant: MHospitality Leased Area: 3,907 Lease Commencement: TBD - Projected 1st Qtr Lease Expiration: 10 years after Commencement Initial Lease Term: 10 years Options: Two (2) five (5) year options Lease Type: NNN Guarantor: 5 Year Personal Guaranty Rent Increases: 2.25% Annual Increases RENT SCHEDULE Lease Years: Annual Rent: 1 $144, Annual 2.25% increases 11 (Option Period 1) $180, (Option Period 1) Annual 2.25% increases 16 (Option Period 2) $201, (Option Period 2) Annual 2.25% increases

13 DEMOGRAPHICS POPULATION 1 MILE 3 MILE 5 MILE 2000 Population 1,242 34, , Population 4,350 56, , Population 4,918 63, , Population 5,496 68, , Annual Rate 13.35% 5.12% 2.27% Annual Rate 1.71% 1.71% 1.47% Annual Rate 2.25% 1.49% 1.35% 2017 Male Population 48.2% 48.1% 48.4% 2017 Female Population 51.8% 51.9% 51.6% 2017 Median Age DAYTIME POPULATION 1 MILE 3 MILE 5 MILE 2017 Population 10,911 61, ,513 HOUSEHOLDS 1 MILE 3 MILE 5 MILE MEDIAN HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE 2017 Median Household Income $69,684 $55,620 $54, Median Household Income $82,883 $65,306 $61, Annual Rate 3.53% 3.26% 2.63% AVERAGE HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE 2017 Average Household Income $98,516 $78,176 $74, Average Household Income $116,381 $92,449 $86, Annual Rate 3.39% 3.41% 2.98% HOUSING 1 MILE 3 MILE 5 MILE 2000 Total Housing Units ,415 54, Total Housing Units 2,376 28,282 72, Total Housing Units 2,487 30,343 77, Total Housing Units 2,711 32,061 81, Households ,107 50, Households 2,097 25,320 64, Total Households 2,448 28,601 71, Total Households 2,725 30,831 75, Annual Rate 15.82% 5.30% 2.43% Annual Rate 2.17% 1.51% 1.32%