INVESTMENT OFFERING $6,389,000 / 8.25 cap Noah s

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1 REPRESENTATIVE PHOTO INVESTMENT OFFERING $6,389,000 / 8.25 cap JOE CAPUTO joe@exp1031.com BOB MOORHEAD bob@exp1031.com RUSSELL SMITH russell@exp1031.com Property. Brand new construction. 10,300+ SF building on acre site. Tenant. Noah Corporation develops and operates innovative multi-use facilities for all life s events to include conference center space for business, corporate, and community events as well as weddings, parties, and other social gatherings. Today you can find operating in Texas, Colorado, Utah & Arizona. Each location hosts an average of 30,000 plus visitors at over 300 events annually. There are currently 28 underway in 20 states. Lease structure. 20-year, Absoute NNN lease beginning January 2015 with 10% rent increases in year 6 and 2% every year after in base term & options. Location. is located along Ridgewood Parkway off of US 281 (137,725 Cars / Day) and Loop 1604 (126,560 Cars / Day) in one of the fastest growing and dynamic parts of San Antonio. The population within a 3-mile radius is projected to grow by 8.6% over the 5-year period ending in 2018 and in 2013, the average household income within the same radius was $101,062. is positioned in Ridgewood Park, a 122 acre master-planned business community, anchored by Tesoro Corporation s (618,000 SF) iconic $150 million Leed-Silver certified headquarters. Ridgewood Park is positioned less than 5.5 miles north of the San Antonio International Airport and 8.5 miles north of San Antonio s Central Business District. Ridgewood Park is adjacent to a 440,000 SF mixed-use lifestyle center including Lifetime Fitness, numerous restaurants and retailers and a 107-room Courtyard by Marriott hotel. There are 12 hotels within a 4-mile radius including the 1002-room JW Marriott Hill County Resort and Spa. San Antonio is located 80 miles south of Austin and 200 miles east of Houston.

2 Table of contents PAGE 1: PAGE 2: PAGE 3: PAGE 4: PAGE 5: PAGE 6: PAGE 7: PAGE 8: PAGE 9: PAGE 10: PAGE 11: PAGE 12-13: PAGE 14: COVER TABLE OF CONTENTS DISCLAIMER INVESTMENT OVERVIEW CORPORATE CLIENT LIST & TESTIMONIALS AERIAL / PHOTOS RIDGEWOOD PARK AERIAL TRADE AREA LOCATION OVERVIEW RIDGEWOOD PARK SITE PLAN SITE PLAN FLOOR PLAN SITE RENDERING LOCATION MAPS DEMOGRAPHICS REPRESENTATIVE PHOTO Disclaimer EXP Realty Advisors, Inc. ( Agent ) has been engaged as an agent for the sale of the property located at by the owner of the Property ( Seller ). The Property is being offered for sale in an as-is, where-is condition and Seller and Agent make no representations or warranties as to the accuracy of the information contained in this Offering Memorandum. The enclosed materials include highly confidential information and are being furnished solely for the purpose of review by prospective purchasers of the interest described herein. The enclosed materials are being provided solely to facilitate the prospective investor s own due diligence for which it shall be fully and solely responsible. The material contained herein is based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by Agent or Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners and directors, as to the accuracy or completeness of the information contained herein. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained herein or any other written or oral communication or information transmitted or made available or any action taken or decision made by the recipient with respect to the Property. Interested parties are to make their own investigations, projections and conclusions without reliance upon the material contained herein. Seller reserves the right, at its sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Seller and Agent each expressly reserves the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawal from the market without notice. Agent is not authorized to make any representations or agreements on behalf of Seller. Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigation and/or making an offer to purchase the Property unless and until a binding written agreement for the purchase of the Property has been fully executed, delivered, and approved by Seller and any conditions to Seller s obligations hereunder have been satisfied or waived. By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents are of a highly confidential nature and will be held and treated in the strictest confidence and shall be returned to Agent or Seller promptly upon request; and (b) the recipient shall not contact employees or tenants of the Property directly or indirectly regarding any aspect of the enclosed materials or the Property without the prior written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied or otherwise reproduced without the prior written authorization of Seller and Agent.

3 Investment overview PRICE: $6,389,000 CAP RATE: 8.25% NET OPERATING INCOME: $527,099 BUILDING AREA: 10,300+ Square Feet Lease overview Initial Lease Term: 20-Years, Plus 4, 5-Year Options to Renew Rent Commencement: January 2015 Lease Expiration: January 2035 Lease Type: Absolute NNN Rent Increases: 10% In Year 6, 2% Every Year Thereafter LAND AREA: Acres Annual Rent (Year 1-5): $527,099 Annual Rent Year 13: $666,018 YEAR BUILT: 2014 LANDLORD RESPONSIBILITY: None OWNERSHIP: Fee Simple Interest OCCUPANCY: 100% Annual Rent Year 6: $579,808 Annual Rent Year 7: $591,405 Annual Rent Year 8: $603,233 Annual Rent Year 9: $615,297 Annual Rent Year 10: $627,603 Annual Rent Year 11: $640,155 Annual Rent Year 14: $679,338 Annual Rent Year 15: $692,925 Annual Rent Year 16: $706,783 Annual Rent Year 17: $720,919 Annual Rent Year 18: $735,337 Annual Rent Year 19: $750,044 Tenant overview LESSEE: NOAH OPERATIONS SAN ANTONIO TEXAS, LLC a Utah llc CORPORATE GUARANTY: NOAH CORPORATION, a Utah corporation Annual Rent Year 12: $652,959 Annual Rent Year 20: $765,045 Option Terms: Continued 2% Annual Rent Increases *Rent is based on a formula that includes a % of total improvement costs and will be adjusted accordingly upon building completion. Annual Rent shown above are estimates. Purchase Price may change but the agreed upon CAP rate will not. Noah Corporation develops and operates innovative multi-use facilities for all life s events to include conference center space for business, corporate, and community events as well as weddings, parties, and other social gatherings. Automated features and state of the art technology and functionality make each room customizable. offers boardrooms, conference rooms, game rooms, and a beautiful reception area that can accommodate upwards of 350 people. At no additional charge, the customer has the freedom to bring in whatever food, decorations, or other services that will assist in making the event a success. booking fees are approximately 25% less on average than its competition and each location hosts an average of 30,000 plus visitors at over 300 events annually. Noah Corporation is a national brand, with active expansion in several markets. Today you can find operating in Texas, Colorado, Utah & Arizona. As of February 2014, there were 28 projects in various phases of site acquisition and development in 20 states, mostly in the Midwest and Southeast. The condition of the Event and Conference Center Industry, as it exists today, is largely without product consistency. Though consumers have come to expect consistency within the retail/restaurant experience it is curiously absent from the conference center marketplace. This Multi-Billion Dollar industry remains in "Status Quo Condition and consumers continue to be frustrated by various elements of service, including high cost, lack of control and flexibility, inconsistent quality, and lack of available facilities. This sleeping, unchanging attitude in the industry has provided an opportunity for Noah Corporation to alleviate frustration for consumers. To do this has standardized the experience with their facilities, creating a national brand that provides four to five star space and an ease of doing business with. 3

4 CORPORATE Client List & Testimonials Intel Apple Wells Fargo Verizon Wireless InfusionSoft ebay Option1 Nutrition Cardinal Health McDonalds C.R. England Contacts Aflac American Express Apple DirecTV Discover Card Frito Lay GE Home Depot Mary Kay Pfizer Sherwin Williams US Bank Chase Bank Edward Jones Verizon Centura Health Farmers Insurance Sashco Taco Bell Taco Bueno Hurst Review Pure Barre ACN Ameriprise Pinnacle Mortgage Texas Instruments Verizon Pepsico CEO Netweavers Juniper Genband Arch Fellow CEO Space DFW Ziosk Nestle LSG Sky Chefs Mountain Range Dentistry Jolliffe Capitol, INC Denver Metro Realtors Safeco Century 21 Lte Chick-fil-a 4

5 AERIAL / PHOTos Ridgewood Park Ridgewood Business Center (129,000 SF Office Project including PulteGroup & EOG Resources) TESORO Corporation (618,000 SF Corporate Headquarters) Future Office Development Future Avnet Offices (58,000 SF) 5

6 AERIAL Trade Area North Central Baptist Hospital Ronald Reagan High School 122 Acre Master-Planned Business Community Ryland Homes South Texas Spine and Surgical Hospital 618,000 SF Corporate Headquarters Local Retailers 6

7 Location overview IMMEDIATE TRADE AREA is located along Ridgewood Parkway off of US 281 (137,725 Cars / Day) and Loop 1604 (126,560 Cars / Day) in one of the fastest growing and dynamic parts of San Antonio. The population within a 3-mile radius is projected to grow by 8.6% over the 4-year period ending in 2018 and in 2013, the average household income within the same radius was $101,062. is positioned in Ridgewood Park, a 122 acre master-planned business community, anchored by Tesoro Corporation s (618,000 SF) iconic $150 million Leed-Silver certified headquarters. Comprehensive protective covenants and architectural standards along with rigorous barriers to entry at competing sites will ensure value and quality of development within the park. Ridgewood Park s dramatic topography provides for unique view corridors and architectural design options. There are multiple ingress/egress routes for vehicles allowing easy access to US 281 and Loop Economic Drivers: In addition to Tesoro s headquarters, is strategically positioned adjacent to Avnet Inc. s brand new 2 story 58,000 SF facility projected to open in August 2014 and Ridgewood Business Center which includes PulteGroup Inc. (NYSE: PHM) and EOG Resources (NYSE: TSO). The subject property is less than 5.5 miles north of the San Antonio International Airport, 8.5 miles north of San Antonio s Central Business District, and is adjacent to a 440,000 SF mixed-use lifestyle center including Lifetime Fitness, numerous restaurants and retailers. In Bexar county, the average number of guests per wedding is , and 96% have less then 300 guests. Last year there were 12,920 weddings county wide. Noah's only needs to capture 0.8% of the market to be a highly successful wedding venue. The average wedding budget for the area is $25,000 compared to Noah's typical wedding cost of $18,000 - $20,000 A 107-room Courtyard by Marriott borders Ridgewood Park. There are 11 other hotels within a 4-mile radius including the 1002-room JW Marriott Hill County Resort and Spa. The Far North Central Medical Center, featuring 2 full-service hospitals (Methodist and Baptist) is less than 2 miles away. Ronald Regan High School, Omar Bradley Middle School, Stone Oak Elementary, and Hidden Forrest Elementary are nearby as well. SAN ANTONIO, TX San Antonio is the 2nd largest city in the state of Texas and the 7th largest city in the United States, with a population of over 1.3 million. San Antonio also serves as the seat of Bexar County (population: 1,714,773). San Antonio s unique geographical position connects the east and west coasts, Canada, Mexico, Central and South America. Interstate highways connect San Antonio to the major Texas population centers and to primary border crossing points into Mexico including Laredo, Del Rio, Eagle Pass and the ports at Corpus Christi and Houston. San Antonio has a strong military presence it is home to Fort Sam Houston, Lackland Air Force Base, Randolph Air Force Base, Brooks City-Base, Camp Bullis, and Camp Stanley. The defense industry in San Antonio employs over 89,000 people and provides a $5.25 billion annually to the city s economy. The South Texas Medical Center consists of 900 acres of medical-related facilities in NW San Antonio. The center directly serves 38 Texas counties, consists of forty-five medically related institutions: separate medical, dental and nursing schools, five higher educational institutions, twelve hospitals, and five specialty institutions. These facilities combined currently total over 4,200 beds. More than $1 billion in new construction projects are currently planned between 2012 and Greater San Antonio has a diversified economy with four primary focuses: financial services; government; health care, and tourism. Greater San Antonio is home to 2 of the 140 Fortune Global 500 headquartered in the US: Valero Energy Corp (#33) and Tesoro Petroleum Corp (#317). Additionally, 5 Fortune 500 companies call the area home: Valero; Tesoro; USAA; Clear Channel Communications; and NuStar Energy. H-E-B, the 19th largest private company in the United States, is also headquartered in San Antonio. Other notable companies with headquarters in the MSA include Kinetic Concepts, Frost National Bank, Harte-Hanks, Eye Care Centers of America, Bill Miller Bar-B-Q Enterprises, Taco Cabana, WhataBurger, Rackspace, and Carenet Healthcare Services. Additionally, Nationwide Mutual Insurance, Kohl s, Allstate, Chase Bank, Philips, Wells Fargo, Toyota, Medtronic, Sysco, Caterpillar, AT&T, West Corp, Citigroup, Boeing, QVC, and Lockheed Martin all have regional headquarters in the city. Over 20 million tourists visit the city and its attractions every year, which provides over $10.7 billion and 100,000 jobs to the local economy. The city is home to 31 higher education facilities (that serve over 100,000 students) including campuses of the University of Texas and Texas A&M as well as toprated private universities such as Trinity University and St. Mary s University. 7

8 RIDGEWOOD PARK SITE PLAN 8

9 SITE PLAN 9

10 Floor PLan 10

11 SITE RENDERINGS 11

12 Location map 12

13 Location map 13

14 Demographics DEMOGRAPHIC SNAPSHOT Radius 1 Mile 3 Mile 5 Mile Population: 2018 Projection 5,096 78, , Estimate 4,830 72, , Census 4,989 68, ,163 Growth % 8.62% 8.49% Growth % 6.02% 5.61% Households: 2018 Projection 2,045 30,730 83, Estimate 1,939 28,288 76, Census 2,012 26,761 72,854 Growth % 8.63% 8.48% Growth % 1.62% 2.07% Owner Occupied 1,021 18,417 51,613 Renter Occupied 918 9,870 25, Avg Household Income $87,584 $101,062 $102, Med Household Income $73,089 $81,994 $81, Households by Household Inc: <$25, ,582 8,963 $25,000 - $50, ,924 14,103 $50,000 - $75, ,476 12,214 $75,000 - $100, ,150 10,868 $100,000 - $125, ,386 9,315 $125,000 - $150, ,377 6,000 $150,000 - $200, ,045 8,287 $200, ,346 6,890 Downtown San Antonio, TX TESORO Corporate Headquarters, San Antonio, TX 14

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