35,000 SF of Land with CMX-4 Zoning Available For Sale. Federal Opportunity Zone Designation. Callowhill Street Philadelphia, Pennsylvania

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1 35,000 SF of Land with CMX-4 Zoning Available For Sale Callowhill Street Philadelphia, Pennsylvania Federal Opportunity Zone Designation

2 35,000 SF of Land with CMX-4 Zoning Available For Sale Callowhill Street Philadelphia, Pennsylvania Federal Opportunity Zone Designation

3 Property Information Property Description Addresses Total Land SF Location 1300 Callowhill St 1,072 SF Callowhill St 9,612 SF Callowhill St 7,350 SF Callowhill St 17,150 SF 35,184 SF Callowhill Street between North 13th Street, North Broad Street and Carlton Street in Center City Philadelphia. Current Use Parking Lot Acres 0.82 Parking Spaces 140 County Parcel ID: 1300 Callowhill St Callowhill St Callowhill St Callowhill St 2019 Budget: Gross Revenue Net Revenue NOI 2019 Expense Estimates: Real Estate Taxes Use & Occupancy Tax Repairs & Maintenance Depreciation Zoning Street Frontages Philadelphia $360,147 $293,998 $91,346 $71,952 $55,355 $22,387 $11,871 CMX along Callowhill St 229 along Carlton St 67 along N 13th St Tax Map Site Aerial

4 67-0 Site Plan 16-0

5 CMX-4 Mixed-Use High-Rise Development The Property benefits from a CMX-4 Center City Commercial Mixed-Use district which is primarily intended to accommodate mixed-use development just outside of the central core area of Center City. CMX-4 is the 2nd highest zoning designation in the City and allows for larger scale commercial and retail uses. This district allows for a floor area ratio ( FAR ) of 500% of the land area and should a developer include bonus features, such as mixed income units or green technology, an FAR of up to 1200% could be achieved. With a total land area of 35,184 SF, zoning would permit up to approximately 175,920 SF 422,208 SF of total building area, although additional zoning controls will determine the overall bulk and shape of a future development.

6 CMX-4 Mixed-Use High-Rise Development Land SF 500% FAR 35,184 SF 175,920 SF

7 CMX-4 Mixed-Use High-Rise Development Land SF 1200% FAR 35,184 SF 422,208 SF

8 Federal Opportunity Zones Definitions Opportunity Fund: An investment vehicle organized as a corporation or partnership for the purpose of investing in Opportunity Zone property. Opportunity Funds will be self-certified per IRS guidelines. They must be organized for the purpose of investing in Opportunity Zones Opportunity Funds are required to invest 90% or more of their capital as EQUITY in Opportunity Zone property Opportunity Zone property includes stock, partnership interest, or business property in an Opportunity Zone > Investor Incentives OPPORTUNITY ZONE INVESTMENTS PROVIDE AN IMMEDIATE BENEFIT to investors of deferring payment of the capital gains tax that would be paid in 2018 until Further incentives are linked to the duration of an investor s commitment to Opportunity Fund investments. THE OZ TAX INCENTIVE WILL ALLOW a modest reduction in capital gains taxes in exchange for holding Opportunity Fund investments for five to seven years. IF INVESTMENTS ARE HELD 10+ YEARS, gains accrued on the Opportunity Fund investment during that 10-year period will not be taxed, further incentivizing patient capital. *Information provided by:

9 Federal Opportunity Zones Timeline for Opportunity Zone Investments Investment Year 2018 Year Year Year Year Tax on Capital Gain Invested Gain realized and invested in Opportunity Fund within 180 days* 10% reduction of capital gains tax 15% reduction of capital gains tax All taxes due on 12/31/26. Investor pays tax on 85% of original gain * Tax is deferred until the earlier of investment liquidation (return of capital) or 12/31/26 Tax on Opportunity Fund Investment Any gain realized on Opportunity Fund investment is fully taxable if liquidated Any gain realized on Opportunity Fund investment is fully taxable if liquidated Any gain realized on Opportunity Fund investment is fully taxable if liquidated Any gain realized on Opportunity Fund investment is tax free** ** Any appreciation on Opportunity Fund investment is tax free if held > 10 years *Information provided by:

10 Local Development & Adaptive Reuse The Packard Motor Car Building The Heid Building Goldtex 448 N 10th St Philly Rail Park 1025 N Hamilton St Hanover North Broad 1026 Spring Garden St Tower Place Mural Lofts 1200 Ridge Ave The Hamilton Spring Garden St Independence Press Building Parkway Corp. Development Site 600 on Broad 631 N Broad 1300 Fairmount 640 Lofts The Divine Lorraine Hotel The MET 990 Spring Garden St 915 Spring Garden St 417 N 8th St 421 N 7th St 827 Spring Garden St 500 Spring Garden St 600 Spring Garden St

11 Local Development & Adaptive Reuse Goldtex The Heid Building The Packard Motor Car Building Hanover N Broad Developed by Post Brothers in 2012 for $38 million. 163 Unit, mixed-use apartment building with ground floor retail, fitness center, lounge and a rooftop terrace with a pool and hot tub. Acquired in 2017 by PRDC for $7.3 million. A 95,000 SF former Frank P. Heid & Co. hat factory to be converted into 96 apartments, ground floor retail and a rooftop terrace. Reinhold Residential acquired the 225,000 SF historic office building for $25 million in 2006 and then repurposed it into apartments with on-site parking, fitness center and an indoor basketball court. Partnership between Parkway Corp. and Hanover Co. to develop 339 multi-family units and 11,000 SF of retail between 2 mid-rise buildings on the SE and SW corners of North Broad Street and Callowhill Street. Tower Place The Hamilton Mural Lofts The MET Owned by Tower Investments. 204 multi-family units at the corner of Broad St and Spring Garden Street. Amenities include a game room, theatre room, yoga studio and fitness center and a retail plaza that is currently under development along Spring Garden St. $150 million mixed-use multi-family development with 600 units. It will feature a fitness room, game room, conference center, ground floor retail, rooftop terrace and parking lot. Being developed by Radnor Properties Group and the Community College of Philadelphia. Acquired by EB Realty Mgmt in 2015 for $16 million. 56 unit multi-family redevelopment of former Thaddeus Stevens School of Practice located at the corner of Spring Garden and Broad Street. Corner lot at Spring Garden and Broad will feature a Wawa or other retail user. 110,000 SF theater and concert venue was originally built in EB Realty Mgmt has formed a partnership with The Holy Ghost Congregation, Live Nation (tenant) and secured over $60 million in loans and grants to restore the historic opera house.

12 Local Development & Adaptive Reuse The Divine Lorraine Hotel 631 N Broad St Independence Press Building $44 million renovation of historic hotel which will feature 121 multi-family units with ground floor retail, a speakeasy, fitness center and residential lounge on North Broad Street. Acquired in 2015 by North Broad Living Management for $2.5 million. Adaptive reuse of the former E. Hart Stable Building into 41 apartments with 5,000 SF of retail on the first floor. P.A. Ridge Associates purchased the 156,000 SF property in 2015 for $5 million. It has been approved for 92 loft style apartments with indoor parking and private roof decks Fairmount Avenue Broad & Spring Garden Development $190 million mixed use development by RAL Development Services out of New York. 14 story, 625,000 SF structure with 471 apartments and 60,000 SF of retail. The Property fronts on Fairmount Ave, Ridge Ave, Melon St, N 13th St and Broad St, South of The Divine Lorraine Hotel. Estimated delivery of Q Partnership between Parkway Corp. and Nightingale Group plans to develop a $300 million Mixed use project. It will feature 144 apartments, 87,000 SF of retail and 586,000 SF of office space. A park will divide the 2 buildings.

13 Local Amenities Philly Rail Park New Tower Place Retail Development Broad St Line Transit Stop Beer Garden Franklin Music Hall

14 Local Amenities Café Lift Prohibition Taproom The Rail Park Love City Brewing PHS Pop Up Beer Garden Union Transfer Franklin Music Hall Yards Brewing Company The MET

15 Access to public transportation is a key benefit of. The site is equidistant and two blocks away from the Spring Garden Street and Race/Vine stop of SEPTA s Broad Street Line which provides tremendous accessibility throughout the City and stops at Suburban Station, one of Philadelphia s main transportations hubs. From Suburban Station riders will be able to navigate their way to Philadelphia s Suburbs via Regional Rail Lines, the Market Frankford Line, the Norristown High Speed Line and the PATCO Speed Line into New Jersey. There are several SEPTA bus routes along North Broad and Callowhill Street with a stop on the same block as the Site. Additionally, there are three Indego Bike Share Stations within three blocks for those wishing to ride a bike. Public Transportation Callowhill St

16 For Additional Information: The Flynn Company (215) Mike Gallagher x151 Brendan Flynn x152 Brian Urban x155 All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof, and same is subject to errors, omissions, change of price, prior sale, lease, financing, withdrawal without notice or other conditions.