AUCTION 18,900 SQ. FT. WAREHOUSE BUSINESS CLOSED PROPERTY MUST BE SOLD. Gilbert Schwartzman, Auctioneer

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1 AUCTION THURSDAY, AUGUST 10, 2017 at 10:00 AM 18,900 SQ. FT. WAREHOUSE BUSINESS CLOSED PROPERTY MUST BE SOLD Gilbert Schwartzman, Auctioneer PA Auction License # AU002428L Phone (410) ; Fax (410)

2 NOTICE TO ALL BIDDERS The information included herewith is a summary of information available from a number of sources, most of which have not been independently verified. This summary has been provided only for the use of prospective bidders at the Public Auction to be held on Thursday, August 10, 2017 at 10 AM. THE AUCTION WILL TAKE PLACE AT 5700 LINGLESTOWN ROAD; HARRISBURG, PENNSYLVANIA. It is supplied for whatever assistance it may provide in answering questions; however: SUCH INFORMATION AND OPINIONS ARE SUPPLIED WITHOUT ANY WARRANTIES OR REPRESENTATIONS, EITHER EXPRESSED OR IMPLIED, WHATSOEVER. Prospective bidders are advised to avail themselves of the land and tax records of the City of Harrisburg, Lower Paxton Township, Dauphin County, Pennsylvania and to make an inspection of the premises on their own behalf; consulting whatever advisors they may feel appropriate. The property for sale will be auctioned in an "AS IS", "WHERE IS" condition and neither Fox Commercial Auctions, LLC, nor the Seller, or their respective agents make any express or implied warranties of any kind. The descriptions and conditions listed in this and other advertising materials are to be used as guidelines only and are not guaranteed. ~ 2 ~

3 TABLE OF CONTENTS PROCEDURES FOR PURCHASING AT AUCTION... 4 FREQUENTLY ASKED QUESTIONS... 5 PROPERTY SUMMARY... 6 AREA MAP... 7 ASSESSMENTS... 8 TAX MAP... 9 APPRAISAL EXCERPTS SUBJECT PHOTOGRAPHS SITE DESCRIPTION IMPROVEMENTS DESCRIPTION NEIGHBORHOOD COMPOSITION ZONING ANALYSIS PHOTOS TERMS OF SALE CONTRACT OF SALE BIDDER REFERRAL RULES BIDDER REFERRAL AGREEMENT ~ 3 ~

4 PROCEDURES FOR PURCHASING AT AUCTION Thank you for your interest in this auction! If you are unfamiliar with buying real estate at auction, here is an easy to follow set of instructions on how to participate: REGISTRATION: 1. Upon arriving at the auction site, seek out one of the members of the auction staff to find out where to register. 2. At the registration desk, you will be asked to fill out a bid card. Once completed, you will receive your bid number for the auction. 3. You will also be asked to show us your deposit, which must be in the form of bank or cashier s check, or in cash. We must see your deposit prior to the auction to make sure that everything is in other and that you are in fact a qualified bidder. BIDDING: Bidding is a very simple process that can be accomplished through one of the following ways. The most important rule is to listen closely to the auctioneer. When the auctioneer is calling out bids to the crowd, you can increase your bid by: 1. Raising your bid card in the air, 2. Shouting your bid out to the auctioneer verbally, 3. Having one of the auction staff place your bid for you, or 4. Communicating a signal to the auctioneer that has been arranged prior to the auction. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. Announcements made from the podium at the time of the sale take precedence over all printed materials. If you have any questions at the auction about the property, procedures, or anything else, do not hesitate to ask. We will be happy to help in any way we can. POST AUCTION: Upon completion of the auction when the auctioneer says, SOLD, the winning bidder will immediately be required to sign the memorandum of Purchase at Public Auction and post the proper deposit. At this time, instructions regarding closing of the sale will be thoroughly explained to you and any questions will be answered. If you have any additional questions, please direct them to any of the auction staff members present or call our offices at (410) ~ 4 ~

5 FREQUENTLY ASKED QUESTIONS The following questions are frequently asked by prospective bidders. Additional information for each topic may be found on the referenced page. Q: What is the opening bid and who determines what it will be? A: The opening bid will be determined on the day of the auction by the bidders themselves. The auctioneer will ask the bidders for an opening bid, a bidder will call out their opening bid, and the auction will proceed from there. For more information, see the Procedures for Purchasing at Auction section in this Property Information Package on page 4. Q: What are the requirements to bid? A: To bid, simply arrive at the property before the scheduled auction time with the specified deposit in either bank or cashier s check, or in cash. The deposit will be collected from the winning bidder. We suggest bidders have the checks made payable in their own name. That way, they can sign the funds over to Fox Commercial Auctions if they are the winning bidder; otherwise, it is easier to deposit back into their accounts. For more information, see the Procedures for Purchasing at Auction section in this Property Information Package on page 4. Q: What are the terms and conditions of this sale? A: Information on the manner of sale and terms of sale may be found in this Property Information Package in the legal ad. ~ 5 ~

6 PROPERTY SUMMARY PROPERTY ADDRESS: 5700 C & D Linglestown Road Harrisburg, Pennsylvania PROPERTY DESCRIPTION: Building C: 1 - story steel framed metal faced structure with a reinforced concrete foundation & floor slab floor accommodating 2 leasable units: 4,200 square feet & 5,196 square feet. Building D: 1-story steel framed metal faced warehouse with a reinforced concrete foundation & floor slab, metal roof served with gutters and downspouts, and accommodates a 9,504 square feet structure. SIZE: ZONING: TOTAL REAL ESTATE ASSESSMENTS: REAL ESTATE TAXES: TYPE: acres BC, Business Campus $662,900 (NOT VERIFIED) $15, (NOT VERIFIED) Commercial BROKER PARTICIPATION INVITED!! The subject property consists of two attached 1-story steel frame metal faced warehouse structures containing a total of 18,900 square feet. ~ 6 ~

7 AREA MAP ~ 7 ~

8 ASSESSMENTS ~ 8 ~

9 TAX MAP ~ 9 ~

10 APPRAISAL EXCERPTS SUBJECT PHOTOGRAPHS BUILDING C BUILDING C ~ 10 ~

11 BUILDING D BUILDING D ~ 11 ~

12 SITE DESCRIPTION The subject tract consists of an irregular shaped parcel which lies northern side of Linglestown Road being accessible by a private road. The tract is dimensioned x x x x x containing 125, square feet or acres. The right-of-way for ingress/egress consists of a 30 wide private road having a macadamized cartway and adjacent to the road easement is an easement for a 6 water line for a fire sprinkler system and a separate 2 water line which is available to the structure even though there are two drilled wells situated on the acreage and provide water to the structures. The maintenance and care of the right-of-way is the responsibility of the parties involved and includes snow removal. The tract is improved with macadam surfacing, signage, and typical landscaping with the northern and eastern boundary lines consisting of naturally treed vegetation which forms a natural screening from residential properties to the east. The tract for the most part is substantially level having no adverse terrain conditions with the structural improvement being well oriented on the acreage as indicated in the aerial view below. In addition to the above indicated easements, there is a declaration of a sign easement dated April 20, 2004 and recorded in Deed Book which provides permission for placement of a sign along Linglestown Road. Situated on the acres is building D which contains 9,504 square feet and is occupied by a single user and utilized as a cross dock warehouse type facility and building C which is attached to building D and contains 9,396 square feet. The total gross building area contains 18,900 square feet. Linglestown Road, also known as PA Route 39, consists of a major east-west connector road in Lower Paxton Township and beyond. ~ 12 ~

13 IMPROVEMENTS DESCRIPTION Situated on the acreage are two structures, one of which consists of a 1-story steel framed metal faced warehouse which has a reinforced concrete foundation and floor slab, metal roof served with gutters and downspouts, and accommodates a 9,504 square feet structure which is referred to as Building D. The other structure consists of a 1 - story steel framed metal faced structure having a reinforced concrete foundation and floor slab floor and accommodating two leasable units, one of which was vacant at the time of inspection and contains 4,200 square feet. The other leasable unit contains 5,196 square feet. Building C: There are two leasable units, one of which is referred to as Suite 102. This area contains 4,200 square feet and is mostly an open unpartitioned area which has a concrete floor, painted plasterboard walls, and is unceiled having florescent type lighting. There is partitioned area which houses the main sprinkling system for the entire facility and is served by the previously mentioned 6 private water line. The space is L-shaped with two partitioned restrooms, one of which the fixtures have been removed. This space is separately metered and is heated by unit heaters. The second unit contains 5,196 square feet and has a floor plan consisting of a receptionist area and office, general graphics area, general work area, storage area, garage which is served by a 10 x 12 overhead door plus both ladies and men s restroom and a small kitchen area. The interior finish consists of treated concrete floor, carpet, and vinyl tile flooring, painted plasterboard walls, and suspended acoustical tile ceiling except for the warehouse and shop area. The restrooms each have a vinyl tile floor, painted plasterboard walls, and finished ceiling and contain a commode and lavatory. The structure is separately metered having a 120/208Y 1,000-amp service panel. Domestic hot water is furnished by an automatic hot water heater. A roof mounted gas HVAC system provides heat and air conditioning. Building D: The space contains 9,504 square feet and has a floor plan consisting of receptionist area, private office, general work area, plus restroom. The office portion of the structure is comprised of two private offices, showroom/display area, and a single restroom and contains approximately 2,500 square feet with the balance accommodating the warehouse. The interior finish consists of commercial grade carpet except for the restroom which vinyl flooring, painted plasterboard walls, and suspended acoustical panel ceiling with florescent type lighting. This portion of the structure is equipped with a gas HVAC unit whereas the warehouse has suspended gas unit heaters. The warehouse has a reinforced concrete floor and is a cross dock operation with various sized overhead doors, exposed insulated panel walls, and ceiling. The entire structure is served by a wet pipe sprinkler system and is lighted by suspended metal halite lighting. Adjoining the warehouse is a partitioned area which houses a restroom which contains a commode and a lavatory. The main electrical service panel consists of a 200-amp arrangement. This portion of the structure is in an average state of repair and is leased as a single unit. The layout, design, and finish are typical of a warehouse rated as a Class B facility. The quality and condition of the building components have an impact on the ability of the structure to support the current rental rate associated with the subject property ~ 13 ~

14 NEIGHBORHOOD COMPOSITION ~ 14 ~

15 The subject property is located in an established neighborhood, which lies in the northern portion of Lower Paxton Township, lying along the northern side of Linglestown Road in an area which historically has enjoyed a balanced land use pattern. The neighborhood can be classified as being stable with continued stability anticipated. I am not aware of any adverse trends that would impact the overall marketability of the subject property within its existing environs. The subject property is strategically located in its present environs enjoying good accessibility. The road system serving the neighborhood can be classified as being good with several main arteries providing access throughout the township and beyond. Linglestown Road enjoys an estimated average daily traffic count of 15,000 (PA Dept. of Transportation). The neighborhood enjoys convenience to amenities. Both public police and fire protection are available and serve the neighborhood. Linglestown Road (PA Route 39) is a major east/west connector route which extends through the township and connects to the Interstate system and Routes 322 and 422. Both Mountain Road and Colonial Road are major north/south connector routes which connects the northern and southern portions of the township. The subject neighborhood lies between two major interchanges of I-83 (Colonial Park) and I-81 (Mountain Road). Lower Paxton Township is bordered by Susquehanna Township, Middle Paxton Township, Swatara Township, West Hanover Township, and South Hanover Township. The subject property lies within fifteen minutes of the central business district of the City of Harrisburg. The road system serving the neighborhood can be classified as being good with several main arteries providing access throughout the county and beyond. Serving the subject site is S. Houcks Road, which lies within one block of Jonestown Road (US Route 22), which is a major east/west connector route which extends through the central portion of Lower Paxton Township. In the area of the subject property there is traffic control. As indicated, as part of the commercial market is major retail which includes retail (The Colonial Park Mall, Colonial Commons and Paxton Crossing), commercial (restaurants, office buildings, etc.) and residential uses. Additional amenities are located within close proximity of the subject property. Both public police and fire protection serve the neighborhood. Lower Paxton Township is a growing community located to the north and east of Harrisburg City. Lower Paxton Township ranks first in total population out of five surrounding municipalities followed by the City of Harrisburg, Swatara Township and Susquehanna Township. In the medium income per household category, Lower Paxton Township ranks first. Both Lower Paxton Township and adjacent Susquehanna Township municipalities continue to grow with both commercial and residential projects. ~ 15 ~

16 ZONING ANALYSIS As of the effective date of appraisal the subject property was zoned by Lower Paxton Township as a Business Campus carrying a BC classification. The present use of the subject property as a leased warehouse building is a use that conforms to the existing land use pattern and the current zoning ordinance. ~ 16 ~

17 PHOTOS ~ 17 ~

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23 TERMS OF SALE A deposit payable by bank or cashier s check, or in cash, will be required of the Purchaser at the time and place of sale in the amount of One Hundred and Thousand Dollars ($100,000). Buyer must increase the deposit to 10% of the purchase price within 5 business days. All costs incident to closing including, but not limited to recordation fees, transfer taxes, title insurance fees, etc. to be paid by the Purchaser. All annualized expenses, such as real property taxes, to be paid by Purchaser at settlement and assumed thereafter by the Purchaser. A Buyer s Premium of Four and a Half Percent (4.5%) applies. Time is of the essence. ~ 23 ~

24 CONTRACT OF SALE THIS CONTRACT OF SALE made this day of, 2017 by and between the following parties: Seller: Hereinafter referred to as SELLER. Purchaser: Hereinafter referred to as PURCHASER. WITNESSETH, that for and in consideration of the mutual covenants herein, SELLER agrees to sell and PURCHASER agrees to buy the property and the improvements thereon known as, Pennsylvania, hereinafter referred to as the PROPERTY, upon the following terms and conditions: PURCHASE PRICE OF PROPERTY IS Dollars ($ ). DEPOSIT has been received from PURCHASER with this Contract in the form of in the amount of Dollars ($ ) which shall be deposited by Fox Commercial Auctions, LLC., hereinafter referred to as AUCTIONEER, in one or more escrow accounts subject to default provisions. Additional deposit in the amount of Dollars ($ ) shall be deposited by PURCHASER with AUCTIONEER not later than 5:00 P.M. on, ~ 24 ~

25 Balance of purchase price in the amount of Dollars ($ ) shall be due from PURCHASER at closing by certified check or cashier s check. CLOSING. PURCHASER agrees to make full settlement, in accordance with the terms hereof, on or before September 29, CLOSING is to be made at a mutually agreed upon location. TIME IS OF THE ESSENCE. CLOSING COSTS. Any and all costs incident to CLOSING, including realty transfer taxes, recordation fees, documentary stamps, title insurance premiums and any other related costs, to be paid by PURCHASER. TITLE. Title to the PROPERTY conveyed to PURCHASER at the CLOSING shall be good and marketable fee simple title, and so insurable, under and subject, however, to (i) liens to secure payment of general and special real property taxes and assessments not delinquent, (ii) laws, ordinances, and governmental rules and regulations, (iii) easements visible upon the ground, (iv) title to all of the oil, gas and other minerals within and underlying the PROPERTY and the appurtenant mining, drilling and extraction rights and privileges appurtenant thereto, (v) all easements, restrictions, reservations and other matters of record at the time of CLOSING, and (vi) all other general exceptions contained in the 2006 ALTA Owner's Policy of Title Insurance. DAMAGES FOR PURCHASER'S BREACH. In the event of default by PURCHASER in the consummation of the purchase of the PROPERTY in accordance with the terms of this CONTRACT, the deposit and interest accrued thereon shall be forfeited to SELLER. In addition, SELLER reserves the right to pursue any and all legal remedies available at law or equity, including, without limitation, the right to have the PROPERTY resold and to recover from PURCHASER all costs of resale and any loss of PURCHASE PRICE. ADJUSTMENTS. All real estate taxes, water charges, sewer charges, and other lienable municipal services, if any, shall be adjusted to date of CLOSING, with SELLER paying all charges accruing up through the date of CLOSING and PURCHASER paying all charges accruing on and after the date of CLOSING. ~ 25 ~

26 POSSESSION. SELLER agrees to give possession and occupancy at time of closing. ATTORNEY'S FEES. Should any litigation be commenced between the parties hereto concerning the PROPERTY, this Contract, or the rights and duties of either in relation thereto, the party (PURCHASER or SELLER) prevailing in such litigation shall be entitled, in addition to such other relief granted, to a reasonable sum as and for their attorney's fees in such litigation, such sum to be determined by the Court in such litigation, or in a separate action brought for that purpose, and each party agree not to enjoin AUCTIONEER in any such litigation, and if any party shall do so, to indemnify AUCTIONEER for its costs and fees. SELLER'S WARRANTIES AND REPRESENTATIONS. SELLER warrants title to PROPERTY is as represented in this Contract and on the settlement date, upon receipt of the purchase price and the satisfaction of PURCHASER's obligation under this Contract, SELLER will convey title to the P R O P E R T Y as required by this Contract by special warranty deed. SELLER has not made, and will not make, any other representations or warranties in connection with the sale of the PROPERTY, including but not limited to, representations and warranties as to the condition of the PROPERTY, zoning conditions, governmental requirements or environmental matters. PROPERTY is being sold in "AS IS", "WHERE IS" condition, with any and all faults. SELLER hereby disclaims, and PURCHASER hereby waives, any other representations or warranties, express and implied, in connection with the sale of the PROPERTY, including, without limitation, the implied warranties of habitability, merchantability, and fitness for a particular use or purpose. SPECIAL NOTICE. AUCTIONEER assumes no responsibility for the condition of PROPERTY or for the performance of this Contract by any or all parties hereto. PURCHASER hereby warrants and represents that AUCTIONEER has not made any statement, representation or warranty regarding the condition of the PROPERTY, zoning conditions, governmental requirements or environmental matters, guarantees or warranties of the like, upon which PURCHASER has relied and which is not contained in this Contract. ~ 26 ~

27 OBLIGATION OF PRINCIPALS. If PURCHASER is a business entity, the principals of PURCHASER hereby join in the execution of this Contract for the purpose of guaranteeing the performance by PURCHASER of each and every one of its obligations under this Contract, including without limitation, the payment of the purchase price on the closing date. If more than one person executes this Contract pursuant to this clause, the obligations of each such person shall be joint and several. ASSIGNMENT. This Contract may not be assigned by PURCHASER without the express written consent of the SELLER. If PURCHASER assigns this Contract, PURCHASER shall be solely responsible for any and all realty transfer taxes assessed or imposed with respect to such assignment. CONDEMNATION OR CASUALTY. If there is a commencement of condemnation proceedings or if a casualty occurs with respect to PROPERTY prior to the closing, closing shall not be delayed, but at closing SELLER shall pay to PURCHASER any condemnation or insurance award previously received by SELLER and shall assign to PURCHASER its rights with respect to such condemnation or casualty and any unpaid award. PURCHASER shall have the right to participate in the negotiations and settlement of any claims relating to any such condemnation or casualty. AGREEMENT OF PRINCIPALS. The undersigned hereby ratify, accept and agree to the Contract and acknowledge receipt of a copy thereof. The principals to this Contract mutually agree that it shall be binding upon them, their heirs, personal representatives, successors and assigns; that all parties hereto have authority to execute this Contract; that this Contract contains the final and entire agreement between the parties hereto, and neither they nor their agents shall be bound by any items, conditions, statements, warranties, or representations, oral or written, not herein contained. ~ 27 ~

28 WITNESS: SELLER: BY: (SEAL) Name: Title: USE IF PURCHASER IS AN ENTITY: WITNESS: BUYER: BY: (SEAL) Name: Title: PRINCIPALS OF BUYER: (SEAL) Name: (SEAL) Name: ~ 28 ~

29 USE IF PURCHASER IS A NATURAL PERSON: BUYER: (SEAL) Name: (SEAL) Name: ~ 29 ~

30 BIDDER REFERRAL RULES As a REALTOR, you can refer buyers to our auctions and earn a 1.5% Bidder Referral Fee if your buyer is the winning bidder at the auction, once the property closes. To qualify for the referral fee the REALTOR must abide by the following rules: 1. REALTOR must be validly licensed. 2. The REALTOR must refer the bidder on an official referral form and forward by mail or fax to Fox Commercial Auctions, LLC, 13 Hambleton Court, Baltimore, MD 21208, fax #: (410) , Attn: Project Manager, received and accepted by Fox Commercial Auctions, LLC not later than forty-eight (48) hours prior to the auction date. 3. Referral form must be signed by both REALTOR and bidder. 4. REALTOR must attend the auction with the bidder. 5. No referral fee will be paid to any REALTOR or agent, or member of his/her immediate family, or participating in the purchase of property as a principal. An affidavit may be required as proof that the REALTOR or agent is serving only as a referring REALTOR or agent and not as a principal. Registrations of REALTOR s or agent by other REALTOR s will not be accepted. 6. Referral fees will be paid upon closing. 7. Oral referrals, or referrals received later than forty-eight (48) hours prior to the auction date WILL NOT be accepted. These requirements will be strictly adhered to. ~ 30 ~

31 BIDDER REFERRAL AGREEMENT I, a Broker/Agent (Name of Broker/Agent) with (Brokerage) hereby refers as a bidder for the auction of 5700 Linglestown Road, Harrisburg, PA BROKER HEREBY AGREES TO THE FOLLOWING: 1. If my bidder is the Successful Bidder at the Auction, I will receive a referral fee of One and a half Percent (1.5%) of the Final Bid Price from the Seller upon compliance with all terms and conditions of this agreement. It is understood and agreed that bidder must acknowledge this referral by signing this agreement. Referral fee will be paid upon closing under the Purchase Agreement. It is understood and agreed that no referral fee or compensation whatsoever shall be due unless and until each of the following conditions has occurred: (i) my delivery and acceptance of this Bidder Referral Agreement to Fox Commercial Auctions, LLC (ii) execution by bidder and ratification by Seller of the Purchase Agreement; and (iii) actual and final closing of title as evidenced by execution, delivery and recording (where applicable) of all closing instruments, and payment in full of the purchase price specified in the Purchase Agreement. It is further understood and agreed that if for any reason whatsoever the sale is not finally closed, including acts, omissions, or negligence on the part of Seller and/or Auctioneer, Auctioneer and Seller are relieved from any and all liability, claim or charge whatsoever, and no referral fee or other compensation shall be due or payable to me. If the bidder s default under the Purchase Agreement results in forfeiture of the Deposit (as defined in the Purchase Agreement), or any portion thereof, or bidder pays or becomes liable for damages to Seller, I shall not be entitled to any portion of such forfeited deposit(s) or damages. 2. I hereby represent and warrant that I am, (i) a duly licensed real estate Broker/Agent under the laws of Pennsylvania; (ii) who has only referred the bidder to the auction, and I am not a principal in this transaction; and (iii) the bidder has no principal or ownership interest in my brokerage and is not a member of my immediate family. 3. I understand that a prospective purchaser may only be represented by one Broker/Agent. 4. It is understood and agreed that this referral agreement is valid only for the day of Auction and expires upon conclusion of the Auction, unless the bidder is the Successful Bidder at the auction. BIDDER HEREBY AGREES TO THE FOLLOWING: 1. I hereby acknowledge being referred by the within named Broker/Agent and that this agreement does not create an agency relationship between the Broker/Agent and myself, unless such relationship has been created by separate agreement. I have received from the Broker/Agent and signed the document Understanding Whom Real Estate Agents Represent. 2. I represent and warrant that I am not a principal in, nor do I have any ownership interest in, the brokerage named in this Bidder Referral Agreement and am not a member of the immediate family of said Broker/Agent. THIS AGREEMENT MUST BE COMPLETED IN FULL BY ALL PARTIES AND RECEIVED AND ACCEPTED BY FOX COMMERCIAL AUCTIONS, LLC NO LATER THAN FORTY-EIGHT (48) HOURS PRIOR TO THE AUCTION DATE. BIDDER: Print Name Signature (Bidder) (Address) ( ) (Telephone) (Date) REFERRING BROKER/AGENT: Print Name Signature (Broker/Agent) (Name of Company) (Address) ( ) (Telephone) Received and accepted by Fox Commercial Auctions, LLC by Date ~ 31 ~