For Sale $2,500,000 Value-Add Opportunity 300 COURT AVENUE 300 COURT AVENUE, MEMPHIS, TENNESSEE INVESTMENT SUMMARY

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1 For Sale $2,500,000 Value-Add Opportunity 300 COURT AVENUE 300 COURT AVENUE, MEMPHIS, TENNESSEE INVESTMENT SUMMARY

INTRODUCTION Fischer Capital Markets Services, ( Fischer ) as the exclusive representative of the Owner, is pleased to offer for sale the 100% fee simple interest in 300 Court Avenue, a 186,525

2 INTRODUCTION Fischer Capital Markets Services, ( Fischer ) as the exclusive representative of the Owner, is pleased to offer for sale the 100% fee simple interest in 300 Court Avenue, a 186,525 square foot value add office building (the Property ) located in the Downtown submarket of Memphis, TN. The Property features a highly visible location just of West of HWY 51 / N Danny Thomas Boulevard and Court Avenue. With the Property s location inside of the Memphis CBD on an arterial highway, 300 Court Avenue enjoys incredible access to Downtown Memphis and the surrounding areas. 300 Court Avenue presents investors an attractive valueadd opportunity in Downtown Memphis. The property will be leased by First Tennessee Bank for 2 years, providing investors time and capital to invest towards future lease up.

PROPERTY INFORMATION Building Information Address: 300 Court Avenue City, State: Memphis, TN Rentable Area: 186,525 Building Height: Seven Stories Year Built: 1971

3 PROPERTY INFORMATION Building Information Address: 300 Court Avenue City, State: Memphis, TN Rentable Area: 186,525 Building Height: Seven Stories Year Built: 1971 Typical Floor Size: 26,917 Sq. Ft. Column Spacing: 30 Ft. by 30 Ft. Site: 3.57 Acres Parking Ratio: 2.80 per 1,000* Parking Spaces 522 Spaces* * See page 6 for details

4 PROPERTY INFORMATION

5 PROPERTY INFORMATION Memphis 300 Court Ave

6 PROPERTY INFORMATION 300 Court Avenue Blue Cross Blue Shield First Tennessee Bank Building Toyota Center Holiday Inn AutoZone Park Peabody Hotel

7 PROPERTY INFORMATION Typical Floor Plate Property Description: 300 Court Avenue is a 7 story Class B office building built in The property consists of 186,525 RSF and located in downtown Memphis, just East of Highway 51 on Court Avenue. Accessibility: Access to Highway 51 is excellent, providing a direct link to Interstate 40 less than a mile to the North. The site also provides access to multiple MATA Downtown trolley and bus stops, with the Madison Avenue and 3 rd Street trolley station being just 1 block west of the property. Parking: 522 Spaces* Parking Ratio: 2.80 per 1,000* Access: Court Avenue & Jefferson Avenue **Tenant owns 257 spaces and currently leases another 265 parking spaces from 2 separate vendors. 137 spaces are leased through 12/31/2015 with one remaining renewal option. The remaining 128 spaces are leased through 12/31/2019.

PROPERTY INFORMATION DESIGN AND CONSTRUCTION Foundation: Structural Frame: Exterior Walls: Poured Concrete Structural Steel Concrete panels with metal frame windows Roof: Built up commercial roof,

8 PROPERTY INFORMATION DESIGN AND CONSTRUCTION Foundation: Structural Frame: Exterior Walls: Poured Concrete Structural Steel Concrete panels with metal frame windows Roof: Built up commercial roof, installed in 2005 Elevators: Four Dover geared traction lift elevators renovated in 1992 servicing floors b-7. One dumbwaiter freight elevator servicing floors B-7. One hydraulic lift servicing floors B-1. Security: Secured building entry with keypad entry system or card reader system on doors. Vault: The property features a 2,650 square foot vault on the first floor with a Mosler Vault door, 18 thick perimeter walls and 18 slab above and below the vault room.

PROPERTY INTRODUCTION INFORMATION BUILDING SYSTEMS HVAC: HVAC system consists of (2) 450/500 ton Trane (CVHE500) centrifugal chillers, installed in 1997 and 1998 respectively.

The building also features Three (3) broilers, 2 Cleaver Brooks (CB 266-125) boiler that is original to the building and 1 Teledyne-Laars (VW715EN09K) boiler that was installed in 1987.

9 PROPERTY INTRODUCTION INFORMATION BUILDING SYSTEMS HVAC: HVAC system consists of (2) 450/500 ton Trane (CVHE500) centrifugal chillers, installed in 1997 and 1998 respectively. Three (3) Carrier air handling units distribute air to the interior of the building utilizing a VAV zone system with thermostat and space temperature sensors. The building also features Three (3) broilers, 2 Cleaver Brooks (CB ) boiler that is original to the building and 1 Teledyne-Laars (VW715EN09K) boiler that was installed in There are supplemental HVAC systems that supply additional cooling to the computer rooms located in the basement. Connectivity: ATT, Time Warner / Level 3 fiber present. ATT copper access present: POTS/DSL/ISDN Sprinklers: Carbon dioxide (CO2) sprinkler system in the basement. No other areas of the building are sprinkled. UTILITIES: Electricity: Memphis Light Gas & Water Power: The building has a 3-phase 480/227 V utility feed with a single point of entry to the building. Natural Gas: Water: Memphis Light Gas & Water Memphis Light Gas & Water Emergency Power: KW Cummins, model 1000DFJD KW Cummins, model 680FDC3041AC N KW Cummins, model 680FOC40FF W Sewer: Telephone: Memphis Light Gas & Water Various Fire & Police: Memphis Police

INVESTMENT SUMMARY Upon the sale of the Property, First Tennessee Bank will lease back 186,525 RSF for a term of up to 2 years, providing investors with the opportunity to collect income during the

10 INVESTMENT SUMMARY Upon the sale of the Property, First Tennessee Bank will lease back 186,525 RSF for a term of up to 2 years, providing investors with the opportunity to collect income during the initial lease up period. Sales Price: $2,500,000 Rental Rate: $1.07 per square foot per year Cap Rate: 8% Property owner has confirmed the presence of asbestos containing materials within the property. Property will be sold in as-is condition including all furniture, fixtures and equipment currently located within the building.

TENANT SUMMARY First Tennessee is a regional financial services company with a history of strength and stability dating back to 1864.

11 TENANT SUMMARY First Tennessee is a regional financial services company with a history of strength and stability dating back to Today, the holding company, First Horizon National Corporation, NYSE: FHN, is one of the 50 largest publicly traded U.S. banks in terms of asset size. First Horizon's 4,300 employees provide financial services through more than 170 First Tennessee Bank locations in and around Tennessee and 27 FTN Financial offices in the U.S. and abroad. The company was founded during the Civil War and has the 14th oldest national bank charter in the country. First Tennessee has one of the highest customer retention rates of any bank in the country, and FTN Financial is a capital markets industry leader in fixed income sales, trading and strategies for institutional clients in the U.S. and abroad. Headquarters: Memphis, TN History: First Tennessee Bank Founded in 1864 Total Assets: Loans: Market Capitalization $26 billion $16 billion $3.2 billion Capital Ratio: 14.4% (Tier 1) Customers: 390,000 Employees: 4,300 Bank Locations: 197 +/- *Data as of 4Q14 No. 27 among America s 500 best employers Forbes Magazine Best bank in Memphis Memphis Flyer, 2014 Best bank for eight straight years Chattanooga Times Free Press Best Employers for Workers Over 50 AARP, Top employer in Memphis Commercial Appeal, 2014 Best bank for 13 straight years Knoxville News Sentinel

FOR MORE INFORMATION, PLEASE CONTACT: MAX JOYNER 972.980.6161 MJOYNER@FISCHERCOMPANY.COM ANDREW HEGMANN 972.980.6151 AHEGMANN@FISCHERCOMPANY.COM BRADLEY RICE 901.321.0531 BRICE@FISCHERCOMPANY.

12 FOR MORE INFORMATION, PLEASE CONTACT: MAX JOYNER ANDREW HEGMANN BRADLEY RICE NOEL ROAD SUITE 900 DALLAS, TX THE OWNER OF THIS PROPERTY HAS REQUESTED THAT FISCHER PRESENT 300 COURT AVENUE TO MARKET SUCH PROPERTY FOR SALE. INFORMATION CONCERNING THE PROPERTY DESCRIBED HEREIN HAS BEEN OBTAINED FROM OTHER SOURCES OTHER THAN FISCHER 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 SPECIFIC INFORMATION ARE APPROXIMATE AND DISCLOSED TO THE BEST OF KNOWLEDGE. 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. MARKET CONDITIONS MAY DIFFER AND/OR CHANGE FROM THOSE STATED HEREIN AND AS SUCH ANY MARKETING INFORMATION MAY NEED TO BE REVISED TO REFLECT SUCH CONDITIONS.

24-story, Class A Office Building Climate Control LEED Gold Certified Fire Life Safety Large, Efficient Floor Plates Elevators Ample Ceiling Height

BUILDING FEATURES 24-story, Class A Office Building with classic design that can be customized to meet the needs of growing businesses LEED Gold Certified for best-in-class energy and environmental strategies