East Wisconsin. ight seventy five EXECUTIVE SUMMARY PREMIER TROPHY OFFICE ASSET LOCATED IN DOWNTOWN MILWAUKEE, WI

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1 REMIER TROHY OFFICE ASSET LOCATED IN DOWNTOWN MILWAUKEE, WI Holliday Fenoglio Fowler, L.. ( HFF ) is a Wisconsin licensed real estate broker

2 US Bank Center 833 East Michigan t ree t S en ur B Van Cly Mi bou t Future Site of The Couture Milwaukee rive D l a i r o m e Lincoln M et tre ns rn S tree iga ch 794 2

3 Holliday Fenoglio Fowler, L.. ( HFF ) is pleased to present the 100% fee-simple interest in 875 (the roperty ), a 210,074 rentable square foot ( RSF ) preeminent Northwestern Mutual Tower Class A+ office tower located in the heart of Milwaukee s highly desirable Downtown market. The roperty was completed in 2003, features state-of-the-art construction and is situated upon an irreplaceable 1.4 acre parcel overlooking Lake Michigan as well as the iconic Milwaukee Art Museum. 875 ranks amongst an exclusive collection of true Class A+ office towers in Downtown Milwaukee and offers investors a rare core-plus investment opportunity. The roperty is currently 80.9% leased with 7.3 years of nue ve A t c Maso spe n Stre ro weighted average lease expiry ( WALE ). Historically, 875 s prime location and prestigious image have commanded a market leading 100% occupancy for over a decade. Investors will have the unique opportunity to benefit from stable in-place cash flow from the roperty s anchor tenant, while adding value through lease up of the et remaining vacancy. KEY ROERTY STATISTICS Location 875 City Milwaukee, WI Total Rentable Area (RSF) 210,074 Typical Floor lates (RSF) 27,500 Stories 9 Acres 1.4 Completed 2003 Developer Irgens Architect Eppstein Uhen Architects Finished Ceiling Height Lake Michigan Slab to Slab Ceiling Height arking 9 ½ 1st floor nd floor to 8th floor th floor Stalls 3

4 R O M I NE N T C O R E TE N AN CY The roperty s existing tenant roster is indicative of the building s prestige and includes Global 500 corporation, The Kroger Co., as well as renowned financial services firm, Artisan artners. 875 East Wisconsin has long attracted the most discerning of tenants and is positioned for continued success well into the future. LO BBY FLOOR CURRENT RSF %* RENT ESCALATIONS EXIRES WALE , % $ % Dec , , % $ % Dec , % Weighted Average / Total 7.3 Artisan artners net rental rate less concessions totals $22.22 per RSF. Kroger excludes 14,850 SF of below grade space. 4 Investment Grade Headquarters NYSE Listed > 34% > 46% > 80% of the Total RSF is Leased to Investment Grade Tenancy of the Total RSF is Leased to Headquarters Operations of the Total RSF is Leased to ublicly Traded Corporations

5 The Downtown office market commanded the highest Class A gross asking rents of any submarket by a premium of over 15% Source: CoStar as of the fourth quarter Source: CoStar R E M I E R C L AS S A OFFICE M ARKE T The Metropolitan Milwaukee Office Market is comprised of ten submarkets with a total existing inventory of approximately 85.1 million RSF, of which over 23% is concentrated Downtown. Long considered to be the preeminent location for Class A office occupants, the Downtown Submarket contains the largest concentration of existing Class A office product of over 7.0 million RSF, enjoys substantial Class A absorption statistics and commands the highest Class A gross asking rents of any submarket. The Downtown office market absorbed more Class A space than any other submarket submarketinin 2016, 2018, representing over 93% of the total Class A RSF absorbed in Source: CoStar S OUTH EAST V I E W FR OM TEN A N T C O N F EREN C E ROO M The Downtown office market contains the largest concentration of existing Class A office product, representing over 32% of the total Class A RSF inventory Source: CoStar 5

6 D OW NTOW N M I LWAUKE E RE N AISSAN CE Downtown Milwaukee has benefited from substantial public and private investment in recent years. Since 2005, over $3.3 billion of investment in infrastructure, recreation, hospitality, multi-family, parking, office, mixed-use development and redevelopment has been completed within Downtown Milwaukee. resently, over $1.7 billion of additional development and redevelopment projects are under construction and over $936 million have been proposed. Recent significant single tenant office developments include the Numerous Downtown multi-family, entertainment and mixed-use 1.1 million square foot Northwestern Mutual Tower and Commons. developments, including proposed luxury residential tower The This important project is situated directly north of 875 East Couture Milwaukee, the recently completed Milwaukee Bucks Wisconsin and stands to reaffirm major corporations long term NBA arena and entertainment district, as well as complimentary commitment to Downtown Milwaukee. With the development of infrastructure improvements, including the Milwaukee Streetcar The Northwestern Mutual Tower and Commons, Northwestern roject, have also helped to to position Downtown Milwaukee Mutual will be able to retain approximately 1,100 Downtown jobs as a preeminent work, live, play city. and create an additional 1,900 Downtown jobs. TH E M ILWAU KE E ST RE E TCAR ROJE C T EE T W EL LS ST R V A N B U R EN JA C K SO N W IS C O N SI R EE T M A SO N ST The Northwestern Mutual Tower and Commons STREETCAR HASE 1 ROUTE and LAKEFRONT LINE LAKEFRONT EXTENSION N A V EN U E 875 E O Donnell ark L D RIV E JE FF ER SO N A V EN U E M ILW A U K EE B R O A D W AY C T AV E N UE ROSE 836 N St. Mary s RIA M IC H IG A N DR LIN 794 RB C LY B O U R N OR IVE LN ME Future Site of The Couture Milwaukee CO 6 MO HA Ro ut e St re et Ca r Ro ut e St re et Ca r

7 Source: ickard Chilton / MKE Drones The Northwestern Mutual Tower and Commons This 1.1 million square foot 32-story headquarters facility is situated immediately north of the roperty between North Cass Street and North rospect Avenue, from Avenue to East Mason Street. With an estimated total project cost of approximately $450 million, The Northwestern Mutual Tower and Commons reaffirms the Downtown submarket s position as the preeminent Class A office market within the region. The project has brought nearly 4.6-acres of outdoor Source: The Couture by Rinka Chung Architecture public amenity space to the surrounding neighborhood. The Couture Milwaukee The proposed 44-story luxury residential tower is located just steps from 875 at the intersection of East Michigan Street and North Lincoln Memorial Drive. The ultra high-end structure will contain 312 apartments in a tower situated upon a 3-story amenity base featuring a rapid transit center and streetcar terminal, 2-story grocer, numerous restaurants, a parking structure and public rooftop garden. Milwaukee Bucks NBA Arena The new $523 million arena anchors a surrounding worldclass entertainment district comprised of approximately 30-acres situated between North Fourth Street and North Sixth Street, from West Highland Avenue to West Juneau Avenue. The area was completed in August of The Milwaukee Streetcar roject Source: nba.com The $128 million Milwaukee streetcar project is a public transportation initiative designed to connect the revitalized neighborhoods of Downtown Milwaukee. The project serves the Intermodal Station and its 1.4 million annual users; the Third Ward (the fastest-growing neighborhood in Southeast Wisconsin); East Town (with the largest concentration of jobs in the state); and the densely populated lower east side. The Source: milwaukeestreetcar.com Hop began passenger service on November 2,

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9 836 N St. Mary s 13 The Northwestern Mutual Tower and Commons Amenity Base 14 The Couture Milwaukee roposed Amenity Base O Donnell ark 8 ST RE ET 14 ST RE ET CLYB OU RN 794 IVE LN 7 DR CO OR 1 ME 2 E AV EN UE RB The Westin Milwaukee MI CH IG AN HA River 105 W U.S. Bank Center Galleria Milwaukee Federal Building & U.S. Courthouse The fister Hotel 12 5 L D RIV 10 Retail Banking Branch, Shoe Shine, Valet Dry Residence Cleaning, Sundry, Salon, Health Center, Jewler, Inn Copy Center ➒ ➓ ⓫ ⓬ W IS CO NS IN 13 RE ET MA SO N ST RIA ST RE ET JA CK SO N LIN The Miller Room Event Space N AV EN UE e ke au Discovery World 11 JE FF ER SO lw Betty Brinn Children s Museum MI LW AU KE Mi Milwaukee Art Museum E ST RE ET Collectivo Coffee, Downtown Kitchen Bacchus - A Bartolotta Restaurant 4 MO N ST RE ET VA N BU RE Rare Steakhouse ST RE ET W ET W EL LS ST RE Harbour House BR OA DW AY ➊ St ➋ ➌ ➍ ➎ ➏ ➐ ➑ ells T A V EN UE SELECT AREA AMENITIES R O S EC 139 E InterContinental Hotel E AST E R N V I E W F RO M EAST W IS C O NSI N I RRE L AC E A B L E LOCATION Situated at the center of the Class A Downtown Submarket, clustered amongst Milwaukee s most prestigious modern office and residential developments, overlooking Lake Michigan as well as the iconic Milwaukee Art Museum, 875 enjoys a truly irreplaceable location. Long considered one the city s most accessible office towers, 875 is strategically located in close proximity to the recently improved Interstate 794 ramp system, providing easy access to the roperty s parking garage, which is conveniently accessed from East Michigan Street. Commuters preferring alternative modes of transportation also benefit from the numerous bus and streetcar stations located just steps from the roperty. 875 s prime location affords tenants a unique work, live, play dynamic. The bustling area immediately surrounding the roperty is home to many of the city s most influential businesses and courts, hotels, luxury residential towers, iconic landmarks and entertainment destinations, providing tenants immediate access to the city s most desirable amenities. 9

10 Contact Information Investment Contacts Debt Contacts HFF Chicago Jaime M. Fink Christopher S. Carroll 150 North Riverside laza Senior Managing Director Managing Director Suite Chicago, IL Telephone: Wisconsin License #: Fax: Jason A. Bond Jeffrey M. Bramson Senior Director Senior Managing Director/Managing Broker Bryan D. Rosenberg Director atrick M. Shields Director Sam M. DiFrancesca Director Kemp Collings Analyst Holliday Fenoglio Fowler, L.., HFF Real Estate Limited (collectively, HFF ), HFF Securities L.. and HFF Securities Limited (collectively, HFFS ) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on HFF has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.