SUBJECT PROPERTY FAMILY DOLLAR CONCHO, AZ

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1 SUBJECT PROPERTY FAMILY DOLLAR CONCHO, AZ

2 Overview FAMILY DOLLAR 16 CR 5064, CONCHO, AZ $1,140,368 PRICE 7.60% CAP LEASEABLE SF 8,320 SF LEASE EXPIRATION 11/29/2027 LAND AREA 1.18 AC YEAR BUILT 2017 LEASE TYPE NN PARKING 29 Spaces New 10-year lease. Six (6) five (5) year options. Brand new construction, opened on November 30, Average household income exceeds $50K within a 5-mile radius. Only dollar store within 16 miles. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

3 Investment Highlights THE OFFERING provides an opportunity to acquire a brand new Family Dollar that opened on November 30, 2017 in Concho, AZ. The tenant signed a new 10-year lease with six (6) five (5) year options. The property is located along Arizona State Route 61, which has over 1,300 VPD and is the only dollar store within 16 miles. Less than 12 miles from the subject property resides Red Rock Ranch and Farms, which offers Wine Events throughout the summer time and an annual Lavendar Festival, drawing large traffic counts to the area. The Family Dollar has excellent visibility leading to the farm. IN 2015, FAMILY DOLLAR WAS ACQUIRED by Dollar Tree, Inc. The acquisition price for Family Dollar was $9 billion in cash and Dollar Tree stock. The combined Dollar Tree-Family Dollar entity is now the largest discounter in North America with over 13,000 stores in 48 states and Canada with annual sales over $20 billion. Both brands will continue to operate separately. Contact the team EXCLUSIVELY LISTED BY: JDS Real Estate Services, Inc. AZ License No. CO Diana Shirek, AZ Broker 100 Spectrum Center Drive, Suite 900 Irvine, CA familydollar@jdsreservices.com ARBY S CORPORATE IS THE FAMILY SECOND DOLLAR LARGEST WITH QUICK-SERVICE NEW 10-YEAR LEASE CHAIN IN THE U.S. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

4 Income & Expense PRICE $1,140,368 Price Per Square Foot: $ Capitalization Rate: 7.60% Total Rentable Area (SF): 8,320 Lot Size (AC): 1.18 STABILIZED INCOME PER SQUARE FOOT Scheduled Rent $10.52 $87,500 Effective Gross Income $10.52 $87,500 LESS PER SQUARE FOOT Taxes NNN $0.00 Insurance NNN $0.00 Roof & Structure Expense ($.10) ($832.00) Total Operating Expenses NNN ($832.00) EQUALS NET OPERATING INCOME $86,668 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

5 Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY TENANT NAME SQ. FT. PERCENT OF GLA CURRENT RENT MONTHLY RENT YEARLY RENT MONTHLY RENT/FT YEARLY RENT/FT Family Dollar 8,320 11/30/17 11/29/27 $87,500 $7,292 $87,500 $0.88 $10.52 Option 1 11/30/27 11/29/32 $7,656 $91,875 $0.92 $11.04 Option 2 11/30/32 11/29/37 $8,039 $96,469 $0.97 $11.59 Option 3 11/30/37 11/29/42 $8,441 $101,292 $1.01 $12.17 Option 4 11/30/42 11/29/47 $8,863 $106,357 $1.07 $12.78 Option 5 11/30/47 11/29/52 $9,306 $111,675 $1.12 $13.42 Option 6 11/30/52 11/29/57 $9,772 $117,258 $1.17 $14.09 TOTALS: 8,320 $87,500 $7,292 $87,500 $0.88 $10.52 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

6 Lease Abstract PREMISE & TERM TENANT Family Dollar BUILDING SF 8,320 SF LEASE TYPE NN TERM 10 Years GRAND OPENING November 30, 2017 RENT COMMENCEMENT 60 Day s Following Grand Opening EXPIRATION November 29, 2027 OPTIONS Six 5-Year Options RENT EXPENSES TAXES Landlord pays the taxes, which the Tenant will reimburse the Landlord for the real estate taxes within 45 days after receipt of the statement. INSURANCE Tenant is responsible. UTILITIES Tenant is responsible for direct payment of all utilities to the appropriate billing authority. TENANT S OBLIGATIONS Tenant is responsible for all maintenance and repair to the entirety of the Premises, including all interior and exterior, structural and nonstructural repairs and replacement. LANDLORD S OBLIGATIONS Roof and structure. Resurfacing the parking lot and parking lot repairs that exceed $1,000 per year. BASE RENT DATE RANGE MONTHLY RENT ANNUAL RENT 11/30/ /29/2027 $7,292 $87,500 OPTION RENTS (ESTIMATED) DATE RANGE MONTHLY RENT ANNUAL RENT #1. 11/30/ /29/2032 $7,656 $91,875 #2. 11/30/ /29/2037 $8,039 $96,469 #3. 11/30/ /29/2042 $8,441 $101,292 #4. 11/30/ /29/2047 $8,863 $106,357 #5. 11/30/ /29/2052 $9,306 $111,675 #6. 11/30/ /29/2057 $9,772 $117,258 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

7 Site Plan CONCHO DRIVE 8,320 RENTABLE SF 1.18 ACRES 29 SPACES CEDAR LANE PYLON SIGN 61 This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

8 Tenant Overview ABOUT FAMILY DOLLAR With over 8,100 stores in 46 states and the District of Columbia, Family Dollar is the nation s second largest dollar store. The company also operates nine distribution centers that are each over 900,000 SF. Family Dollar targets shopping for a family earning less than $40,000 a year. Consumables (food, health, beauty aids, and household items) account for about two-thirds of sales. Family Dollar also sells apparel, shoes, and linens. Family Dollar stores are low-format and are located in low and middle-income rural and urban areas. Most goods and groceries (national brands, Family Dollar private labels, and unbranded items) are sold at a variety of discounted prices, the majority of which are under $10. For fiscal 2016, net sales were $19 billion and net income was $565 million. In July 2015, Family Dollar was acquired by Dollar Tree,Inc. The acquisition price for Family Dollar was $9 billion in cash and Dollar Tree stock. The combined Dollar Tree-Family Dollar entity is now the largest discounter in North America with over 13,000 stores in 48 states and Canada with annual sales over $219 billion. Both brands will continue to operate separately. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 8,100 LOCATIONS IN 46 STATES AND THE DISTRICT OF COLUMBIA

9 Demographics POPULATION 3-MILE 5-MILES 7-MILES ,080 FLAGSTAFF (2 HR 142 MILES) , , HH INCOME 1-MILE 3-MILES 5-MILES CONCHO Average $50,354 $50,810 $50,073 Median $31,649 $32,222 $31,396 PHOENIX (3 HR 207 MILES) THE AVERAGE HOUSEHOLD INCOME WITHIN A 5-MILE RADIUS IS OVER $50K This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

10 Location Overview CONCHO, ARIZONA ARIZONA CONCHO is located on the northeastern corner of the state of Arizona in the Apache County, which is rich in tradition and folklore. Each year the residents enjoy coming together for the San Rafael Fietas. A main attraction to Concho is the local country club and golf course, along with Concho Lake, which primarily serves as an irrigation reservoir, but is popular for fishing, boating, and recreation throughout the year. 73,112 APACHE COUNTY POPULATION (ESTIMATED) APACHE COUNTY APACHE COUNTY is the third-largest county by area in Arizona and the sixth-largest in the United States. The County contains parts of the Navajo Indian Reservation, the Fort Apache Indian Reservation, and Petrified Forest National Park. Canyon de Chelly National Monument is entirely within the country. Apache County includes the Arizona section of the Four Corners Monument. It has the most land designated as Indian reservation of any county in the United States. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

11 SUBJECT PROPERTY