DOWNTOWN RALEIGH, NC ±0.52 ACRES IN RAPIDLY GROWING GLENWOOD SOUTH CORRIDOR 708 & 710 WEST NORTH STREET 1

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1 DOWNTOWN RALEIGH, NC ±0.52 ACRES IN RAPIDLY GROWING GLENWOOD SOUTH CORRIDOR STREET 1

2 GLENWOOD SOUTH CAROLINA ALE HOUSE BUILT 2014 DEVON SEVEN12 BUILT 2009 LINK GLENWOOD SOUTH BUILT 2016 INVESTMENT SUMMARY LOCATION DOWNTOWN DISTRICT West North Street Raleigh, NC Glenwood South WAKE COUNTY PINS & MUNICIPALITY ACREAGE FRONTAGES (APPROX.) CURRENT ZONING CURRENT USAGE AVAILABILITY City of Raleigh 0.52 acres 106' West North Street OX-3-DE 708: Gravel parking 710: Commercial use 1930s converted home Available immediately PRICING $1,600,000 DEVON FOUR25 BUILT 2015 STREET NORTH BOYLAN AVENUE DEMOGRAPHICS RADIUS 1-MILE 3-MILE 5-MILE 2016 POPULATION 15, , ,064 CENSUS POPULATION (2000) 11,453 84, ,851 HISTORICAL POPULATION CAGR ( ) 2.1% 1.2% 1.9% AVG HOUSEHOLD INCOME $74,593 $75,864 $74,843 MEDIAN HOUSEHOLD INCOME $45,777 $53,145 $55,637 PER CAPITA INCOME $39,323 $30,152 $30,919 MEDIAN HOME VALUE $337,736 $306,492 $250,831 AVG HOUSEHOLD NET WORTH $518,088 $503,705 $480,535 COLLEGE DEGREE (BACHELOR DEGREE OR HIGHER) 55.3% 46.9% 45.2% MEDIAN AGE SOURCE: REGIS EXECUTIVE SUMMARY THE INVESTMENT OPPORTUNITY ± 0.52 acres in rapidly growing Glenwood South corridor Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp., a North Carolina licensed real estate broker ( HFF ), has been retained as the exclusive sales representative for West North Street, a ±0.52 acre opportunity in Downtown Raleigh s sought-after Glenwood South lifestyle and residential corridor. Glenwood South has enjoyed explosive growth with the addition of 980 multifamily units, notably at Devon Seven12 ($1,450 average rent) and adjacent Devon Four25 ($1,650 average rent), and has been enhanced with numerous new restaurants and bars as well as easy walkability to the Warehouse District s burgeoning tech cluster (Citrix and HQ Raleigh). West North Street offers an opportunity to tap into Downtown s decade-long $3 billion development boom in a corridor with support for five- or seven-story zoning. STREET 2

3 40 111,000 ADT DOWNTOWN RALEIGH 45,000 EMPLOYEES Red Hat Duke Energy Wells Fargo PNC Bank Ipreo KPMG Deloitte FUTURE 308-ACRE DOROTHEA DIX PARK (MASTER PLANNING BEGINS 2017) RALEIGH UNION STATION $80M MULTI-MODAL FACILITY (2017 COMPLETION) NC STATE CAPITOL & CITY/COUNTY GOVERNMENT CITRIX/SHAREFILE DIVISION HQ 185,000 SF, 850 EMPLOYEES PEACE STREET/CAPITAL BOULEVARD INFRASTRUCTURE IMPROVEMENTS $75M+ REDESIGN & BRIDGE REPLACEMENT FUTURE PUBLIX TO OPEN IN 2018 DEVON FOUR25 $1,650 AVERAGE RENT LINK GLENWOOD SOUTH $1,450 AVERAGE RENT NC STATE UNIVERSITY 34,000+ STUDENTS 12,500+ EMPLOYEES FUTURE DEVEREAUX MEADOWS PARK (15 ACRES) DEVON SEVEN12 $1,450 AVERAGE RENT GLENWOOD SOUTH CORRIDOR ST. MARY S SQUARE $1,315 AVERAGE RENT CAMERON VILLAGE Harris Teeter Rite Aid Noodles & Company Chick-fil-A Ann Taylor 400 REGENCY FOREST 3

4 MELLOW MUSHROOM MOJOE S BURGER JOINT RALEIGH BEER GARDEN JOHNSON STREET CORNERSTONE TAVERN ARMADILLO GRILL, SOLAS GLENWOOD SOUTH BREWGALOO C GRACE, CAFE HELIOS SHUCKERS OYSTER BAR & GRILL CAROLINA ALE HOUSE SULLIVAN S STEAKHOUSE NAPPER TANDY S IRISH PUB DOS TAQUITOS XOCO GLENWOOD SOUTH CORRIDOR THE EPICENTER OF RALEIGH S NIGHTLIFE Quickly becoming the epicenter of Raleigh s nightlife scene, Glenwood South is dotted with a wide variety of restaurants, bars and breweries, and unique entertainment venues. FAST-GROWING RESIDENTIAL AREA 2,000+ existing and underway apartments in the residential area BOYLAN AVENUE HIBERNIAN PUB SUSHI BLUES ROCKFORD, CLOCKWORD, NORTH STREET BEER STATION N WEST STREET EMERGING OFFICE CORRIDOR 400,000+ square feet of imminent office development TOBACCO ROAD SPORTS CAFE IMPROVING TRANSPORTATION LINKAGES $160 M infrastructure underway nearby STREET 4

5 45,000+ $1.1+B 7, % $182+M 175+ CBD EMPLOYEES RECENTLY COMPLETED, UNDER CONSTRUCTION OR PLANNED ESTIMATED DOWNTOWN RALEIGH RESIDENTS POPULATION INCREASE SINCE 2000 IN PUBLIC INVESTMENT RESTAURANTS, BARS, AND ENTERTAINMENT VENUES DOWNTOWN DEVELOPMENT PIPELINE recent $3 billion URBANIZATION & TRANSFORMATION INTO A GLOBALLY RECOGNIZED TECHNOLOGY HUB $395 $278 TRANSFORMATION INTO A WORLD-CLASS TECHNOLOGY HUB Spurred by the 2012 relocation of global tech giant Red Hat s headquarters to Downtown Raleigh (1,000+ high-paying jobs), and followed closely by significant employment commitments from Citrix/ShareFile (division HQ), IPREO, and startup-focused HQ Raleigh, Downtown Raleigh is one of the region s largest employment centers with 45,000+ workers. In 2014, Raleigh was named the #5 Emerging Tech Hub in the world by fostering catalytic organic growth. $543 SURGE IN HIGH-INCOME JOBS AND WELL-APPOINTED RESIDENTIAL On the heels of a decade-long $3+ billion urbanization boom, Downtown Raleigh has quickly become a high-quality employment hub and has attracted significant interest from young professionals seeking an urban lifestyle in the area s new, highly amenitized multifamily product with prices approaching $2.00 PSF (MILLIONS) STREET 5

6 STREET investment advisors JUSTIN GOOD Managing Director ALLAN LYNCH Director analyst SARAH GODWIN Senior Real Estate Analyst debt & structured financing BRENT BOWMAN Director NORTH BOYLAN AVENUE Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp a North Carolina licensed real estate broker ( HFF ) HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff. HFF has been engaged by the owner of the properties to market them for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference 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 purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change. STREET 6