COSTCO-ANCHORED RETAIL CENTER NNN LEASED S. Memorial Drive, Tulsa, OK. ANDY BURNETT, CCIM

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1 COSTCO-ANCHORED RETAIL CENTER NNN LEASED S. Memorial Drive, Tulsa, OK Exclusive Advisor ANDY BURNETT, CCIM

2 Disclaimer Confidentiality Newmark Grubb Levy Strange Beffort, LLC ( Agent ) has been engaged as the exclusive agent for the sale of S. Memorial Drive, Tulsa, Oklahoma (the Property ), by Building 103 LLC ( 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. Neither the enclosed materials nor any information contained herein is to be used for any other purpose or made available to any other person without the express written consent of the Seller. Each recipient, as a prerequisite to receiving the enclosed, should be registered with Agent as a Potential Purchaser or as Purchaser s Agent. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the confidentiality agreement furnished by Agent prior to delivery of this Offering Memorandum. 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 or 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 thereunder 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 or Agent or as otherwise provided in the Confidentiality Agreement executed and delivered by the recipient(s) to Agent.

3 OFFERING MEMORANDUM 2 Executive Summary 3 Lease Analysis 4 Property Summary 5 Location 6 Tenant Overview 7 City Overview 8 Advisor Profile

4 Executive Summary Executive Summary The subject property offers investors an attractive multi-tenant retail center located in Tulsa, Oklahoma. The current tenants, Chipotle Mexican Grill, Mattress Firm, and Cox Communications, all have a national presence and have signed leases of more than ten years. The tenants each have at least two 5-year renewal options following the initial lease term. As such, the property boasts an impressive 6.0% cap rate. Built in 2017, the building sits on 1.5 acres and has 8,709 rentable square feet. It is located in front of the only Costco store in Oklahoma - opened in April of and along the west side of Memorial Drive, one of Tulsa s strongest and fastest growing retail corridors. Nearby retailers include multiple auto dealerships, ETX Energy - a large, Oklahomabased oil and gas company, B&B Theatres, Target, Walmart, Lowes, Sprouts, Lifetime Fitness, Reasor s Foods, as well as many national restaurants. Investment Highlights The tenants are Chipotle Mexican Grill, a national fast food chain with more than 2,000 locations internationally; Mattress Firm, one of the largest chains of mattress suppliers nationally; and Cox Communications, the third largest cable provider in the U.S. This brand new retail center is anchored by the recently opened Costco Wholesale Each tenant has signed a 10+ year base lease, and each has multiple 5-year options to extend their lease Rental increases within initial lease term Net Leased Property: Multi-Tenant Retail Center Sale Price: $5,544,567 Net Operating Income: $333,554 Cap Rate: 6.0% Price per SF: $637 Square Footage: 8,709 Lease Type: Lease Rate: Remaining Lease Term: Lease Options: NNN with minimal Landlord Responsibilities $38/SF, average, with rental increases Years+ Chipotle Four 5-Year Renewals Mattress Firm Two 5-Year Renewals Cox Two 5-Year Renewals 6.0% Cap Rate NNN Lease with 10+ Years Remaining Multiple 5-Year Renewal Options 2 Offering Memorandum

5 Lease Analysis Tenant SF Chipotle Mexican Restaurant % of GLA Current Rent Rent/SF Rent Increase Future Rent Options Lease Type 2, Years $93,726 $41 Year 8 $100,744 Four 5-Year NNN 2, Years $118,272 $42 Year 6 $126,720 Two 5-Year NNN Mattress Firm (Franchise) 3 3, Years $121,556 $34 Year 4 $128,770 Two 5-Year NNN $333,554 $38 8,709 Lease Term Cox Communications 2 1 Creek Turnpike Annual Summary Base Rent $333,554 Expenses* S Memorial Drive Taxes -$39,195 Insurance E 101st Street CAM -$5,909 -$11,368 Admin / Management Fee SITE -$1,569 Total Expenses -$58,041 Expenses Reimbursed by Tenants $58,041 Net Operating Income $333,554 * Estimated expenses based on leases. 1 Tenant to pay 10% administrative fee based on CAM. Guarantor: Corporate. CAM Cap is lesser of actual increases in costs or 5% (excluding taxes, insurance, and snow removal). 2 Tenant to pay 10% administrative fee based on CAM excluding utilities. 5% CAM Cap excluding taxes, insurance, snow removal, and utilities. E 111th Street 3 Tenant to pay 10% administrative fee based on CAM. Initial 6 months rent is abated. Guarantor: 2 personal guarantees. Levy Strange Bef fort 3

6 Property Summary Property Details Address: S. Memorial Drive Tulsa, OK Year Built: 2017 Property Type: One Story Multi-Tenant Retail Center Ownership: Fee Simple Rentable SF: 8,709 SF ± Zoning Commercial Lot Size: 1.5 Acres ± SITE E 101st Street S Memorial Drive SITE E 103rd Street 4 Offering Memorandum

7 Location Tulsa, OK S Lewis Avenue S Harvard Avenue East Jenks East Intermediate S Yale Avenue S Sheridan Road Darnaby S Memorial Drive Meadow Brook Country Club S Mingo Road Tulsa CC W Garnet Rd Jefferson Andersen S 129th Street E 81st Street E 91st Street Jenks High Hunter Park Creek Turnpike Jenks Middle Southeast SITE S Memorial Drive Cedar Ridge Cedar Ridge Country Club Wolf Creek Oliver E 101st Street Metro Tulsa Soccer Club E 111th Street Bixby Haikey Creek Park E 121st Street Legend Education Community Government Retail Levy Strange Bef fort 5

8 Tenant Overview Chipotle Mexican Grill is a chain of fast casual restaurants in the United States and parts of Europe, specializing in tacos, burritos, and salads. Known for its Food with Integrity campaign, Chipotle focuses on attaining high-quality ingredients from local farmers recognized for their respect animals and the environment. Started in 1993, Chipotle has grown from a single location in Denver, Colorado, to a national and international quick-service chain. Mattress Firm Inc. is a mattress retail chain with both company-operated and franchised stores across 49 states. Existing tenant is a franchisee that includes both co-founders of the original Mattress Firm company. Cox Communications is a subsidiary of Cox Enterprises, a privately owned communications, mass media, and automotive conglomerate based out of Atlanta, GA. Founded in 1898, Cox Enterprises additionally has the subsidiaries Cox Media Group and Cox Automotive. Locations: 2,250 *Locations: 3,500 Locations: Unknown Employees: 64,570 *Employees: 3,861 Employees: 20,000 Founded: 1993 Founded: 1986 Founded: 1962 Headquarters: Denver, CO *Headquarters: Houston, TX Headquarters: Atlanta, GA Annual Revenue: $3.9 Billion *Annual Revenue: $2.541 Billion Annual Revenue: $10.4 Billion *Corporate stores 6 Offering Memorandum

9 Demographics Demographic Summary DESCRIPTION 1 MILE RADIUS % 3 MILE RADIUS % 5 MILE RADIUS Population 2000 Population 5,323 47, , Population 8,087 60, , Population 8,887 66, , Population Est. 9,513 71, , Annual Rate 1.37% 1.37% 1.38% 2017 Median Age Households 2000 Households 1,957 17,617 52, Households 3,037 23,378 61, Total Households 3,287 25,537 67, Total Households Est. 3,498 27,199 71, Average Household Size Household Income 2017 Median Household Income $95,285 $87,064 $72, Median Household Income Est. $101,938 $94,163 $79, Annual Rate 1.36% 1.58% 1.80% Tenure of Occupied Housing Units 2010 Owner Occupied Housing Units 2,433 16,980 42, Renter Occupied Housing Units 604 6,398 19, Owner Occupied Housing Units 2,588 18,096 44, Renter Occupied Housing Units 699 7,441 22, Owner Occupied Housing Units Est. 2,777 19,303 47, Renter Occupied Housing Units Est ,896 24, All Owner-Occupied Housing Units by Value 2,589 18,097 44,887 Value Less than $50, Value $50,000 - $99, ,008 Value $100,000 - $149, ,931 8,527 Value $150,000 - $199, ,647 10,620 Value $200,000 - $249, ,732 7,368 Value $250,000 - $299, ,500 4,528 Value $300,000 - $399, ,337 5,569 Value $400,000 - $499, ,499 2,305 Value $500,000 - $749, ,435 2,267 Value $750,000 - $999, Value $1,000,000 or more Median All Owner-Occupied Housing Value $301,711 $258,610 $205,066 Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and Esri converted Census 2000 data into 2010 geography. % Levy Strange Bef fort 7

10 Tulsa Market Overview The Tulsa MSA consists of seven counties: Creek, Okmulgee, Osage, Pawnee, Rogers, Tulsa and Wagoner. The MSA population in 2014 was 969,224 or one-quarter of the population in the state of Oklahoma. The gross product of all the goods and services produced in the Tulsa MSA is estimated to be $42.6 billion or 30 percent of the Oklahoma economy. Tulsa is centrally located in the United States and its highway and port access make it connected to the rest of the world. Downtown Tulsa is in the northwest quadrant of the city and is home to many of the oldest and largest office towers. Tulsa boasts a widely diversified business base with major industries such as aerospace, health care, energy, and manufacturing. Tulsa was classified as one of America s Most Livable Communities by Forbes and is well known for its art collection. Art deco architecture is prevalent in many downtown buildings and churches, the Philbrook Art museum is very highly regarded and the Gilcrease Museum houses the world s largest and most comprehensive collection of art and artifacts of the American West. Tulsa MSA is home to ten higher education facilities including The University of Tulsa, Oral Roberts University, and branches of both Oklahoma State University and the University of Oklahoma. The last decade has produced exciting new developments and opportunities with the revitalization of Downtown Tulsa. In 2003, Tulsa County approved a one-penny, 13-year increase in the Tulsa County Sales Tax for regional economic development and capital improvements. The result was a group of projects called Vision These projects included building the BOK Center, renovating the existing Convention Center, and creating incentives for American Airlines to retain existing jobs and attract new ones at the company s Tulsa Maintenance Base by providing funds for capital improvements, equipment, and training. In January 2015, Tulsa s unemployment rate was 4.2%, significantly lower than the nation s 5.7%. Qualities such as sound infrastructure, low cost of doing business, and strong economic fundamentals attract new companies. In April 2014, Macy s broke ground on a 1.3 million square-foot $180 million fulfillment center in north Tulsa County. The center is the largest Tulsa-region job announcement in nearly a decade and could result in up to 5,000 new jobs. Tulsa has earned a number of recent accolades for its economic strength and quality of life, including: No. 1 most budget-friendly metro Apartment Guide th in Manufacturing Growth in the Country adding 9,000 new manufacturing jobs from Garner Economics 2014 No. 11 in Best City in Recession Recovery WalletHub 2014 Cost of Living 12% Below National Average C2ER 2014 No. 2 nationally among Tier II Cities for New and Expanded Facilities Site Selection 2013 No. 1 Best City of Young Entrepreneurs Forbes Offering Memorandum

11 Tulsa MSA Population Tulsa Market Overview Population The Tulsa MSA population grew 0.7% in 2014 to 969,224. Tulsa will likely hit the million-population mark between 2017 and Tulsa metro s population is expected to slightly outpace the projected national growth in the next 5 years. Tulsa s median age is 37.0, with 30% minority ethnicity. 980, , , , , , , , ,000 Tulsa Population Source: Bureau of Labor Statistics Cost of Living Index Total Employment by Industry Ann. Growth SECTOR Construction 20.9% 26.08% 4.6% Mining 7.7% 8.84% 2.7% Manufacturing 51.7% 66.54% 5.2% Wholesale 15.9% 17.16% 1.6% Retail 46.6% 48.64% 0.9% Transportation, Warehousing 16.2% 17.31% 1.4% Air Transportation 6.8% 6.06% -2.2% Information 7.9% 7.53% -0.9% Financial Services 22.2% 22.19% 0.0% Business & Prof. Services 57.3% 67.43% 3.3% Education & Health Services 67.2% 75.49% 2.4% Leisure & Hospitality 39.6% 41.23% 0.8% Government 56.3% 60.59% 1.5% Tulsa Chamber, 2014 Economic Profile CITY Cost of LIving Index Tulsa 88.7 Memphis 85.6 Wichita 91.3 Charlotte 95.0 Detroit 95.1 Pittsburgh 96.4 Tucson 97.0 Little Rock 98.5 U.S Denver Chicago Boston Washington DC San Francisco Manhattan Source: Cost of Living Index, C2ER 2014 Q4 Levy Strange Bef fort 9

12 Advisor Profile ANDY BURNETT, CCIM Senior Vice President 204 North Robinson, Suite 700 Oklahoma City, OK office fax Years of Experience Twelve Years Areas of Specialization Multifamily Mixed Use Retail Education Oklahoma State University, B.B.A. in International Business Professional Community Affiliations BOARD MEMBER Urban Neighbors, (Founding Member) City Care Commercial Real Estate Council (CREC) Bricktown Association MEMBER Certified Commercial Investment Member (CCIM) International Council of Shopping Centers (ICSC) Professional Background Andy Burnett began his commercial real estate career in Oklahoma City in Burnett, CCIM, serves as Senior Vice President of Newmark Grubb Levy Strange Beffort, specializing in the sale, site selection, and underwriting of institutional multifamily and downtown mixed-use properties in Oklahoma. He graduated from Oklahoma State University with a B.B.A. in International Business with minors in Spanish and Marketing. Mr. Burnett has brokered over $1.2 billion in commercial real estate transactions including $450 million in HUD multifamily transactions. He has been recognized as a Forty Under 40 business achiever and has received multiple Costar Power Broker awards. Mr. Burnett is a board member of CREC, the Bricktown Association, the founding member of Urban Neighbors and is a member of CCIM and ICSC. Achievements and Recognition Sperry Van Ness National Rookie of the Year Multiple Partners Circle Award Recipient Forty Under 40 Business Achiever 10 Offering Memorandum

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14 Levy Strange Bef fort OKLAHOMA CITY 204 North Robinson, Suite 700 Oklahoma City, OK TULSA 2021 S. Lewis, Suite 410 Tulsa, OK