259,934 SF, 100% LEASED LAST MILE DISTRIBUTION CENTER FEATURING OUTSTANDING CREDIT WITH SIGNIFICANT UPSIDE POTENTIAL RALEIGH-DURHAM, NORTH CAROLINA

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1 259,934 SF, 100% LEASED LAST MILE DISTRIBUTION FEATURING OUTSTANDING CREDIT WITH SIGNIFICANT UPSIDE POTENTIAL RALEIGH-, NORTH CAROLINA

2 259,934 SF, 100% Leased Last Mile Distribution Center Featuring Outstanding Credit with Significant Upside Potential Raleigh-Durham, North Carolina Holliday GP Corp. ( HFF ), a North Carolina licensed real estate broker, has been retained as the exclusive sales representative for North Distribution Center a 259,934 square foot distribution center that is in an irreplaceable infill location within the flourishing Raleigh-Durham market. The 100% leased facility features stable cash flows and an outstanding credit tenant roster headlined by Amazon (NASDAQ: AMZN; S&P: AA-), the United States leader in e-commerce and one of the largest companies in the world with a $979 billion market cap. The offering presents investors with an opportunity to acquire a high quality last mile industrial asset at an attractive discount to replacement cost in the highbarriers-to-entry Raleigh-Durham market, a national leader in population and employment growth which currently boasts a 98% industrial market occupancy. Investors can also capitalize on steady in-place income with the future opportunity to increase rents that are substantially below market. North Distribution Center has been the beneficiary of significant recent capital improvements such as upgraded lighting, newly painted exteriors, updated front entrances, fresh landscaping and parking lot improvements. The fully fenced complex sits on acres and features truck courts up to 195' deep with expansive trailer storage on-site. Strategically positioned adjacent to US Highway, I-85, and the future I-885 (East End Connector), the last mile location provides excellent access to key Southeastern interstates, while sitting only 3 miles from the flourishing downtown Durham a rapidly expanding population and economic center that has seen $1.7 billion of investment since BUILDING AREA TENANT ROSTER OCCUPANCY 100% WEIGHTED AVERAGE REMAINING LEASE TERM RENT ESCALATIONS AVERAGE IN-PLACE RENTS 259,934 SF Amazon.com Inc. (88,560 SF, 6/25 LXD) West Logistics (160,497 SF, 9/21 LXD) 4.08 Years West Logistics 2.50% Amazon 3.00% $3.78 NNN IN-PLACE NOI $927,936 NORTH DISTRIBUTION 2

3 RESEARCH TRIANGLE PARK (6 miles) Largest Dedicated Scientific Research Park in U.S. 200 companies / 50,000 employees / 7,000 acres FREEWAY DOWNTOWN RALEIGH- INTERNATIONAL AIRPORT (12 miles) RALEIGH INVESTMENT HIGHLIGHTS LAST MILE WAREHOUSE FACILITY FEATURING INVESTMENT GRADE TENANCY AND BELOW MARKET RENTS 100% leased to a credit tenant roster featuring West Logistics and Amazon (NASDAQ: AMZN; S&P: AA-) FUTURE 885 Delivering November 2019 Below market in-place rental rates in the exploding Raleigh-Durham industrial market which has recorded a 24% increase in rates over the past 24 months THE AMAZON GUARANTEE: Recently executed, the lease provides investors with seven years of investment grade cash flow and is guaranteed by Amazon.com, Inc. (S&P: AA-) The space will be utilized as the latest Amazon Flex location a companywide initiative to help cut expensive last mile delivery costs Amazon spent significant capital of their own to install a state-of-the-art data monitoring system that allows them to track each package as it travels through the facility 85 Ideally positioned at the epicenter of a web of major transportation arteries including US-, I-, I-85 and the future I-885, set to deliver in November 2019, allowing users to reach Downtown Durham (3 miles), Research Triangle Park (6 miles), Raleigh-Durham International Airport (12 miles), and more than 200,000 people within a 10 minute drive. Significantly below replacement cost acquisition opportunity during a time of rising construction costs and recent industrial trades above $100 per square foot in the market NORTH DISTRIBUTION

4 PROPERTY PROFILE PREMIER DISTRIBUTION COMPLEX FEATURING RECENT ENHANCEMENTS 259,934 square foot, front and side-loaded last mile warehouse facility originally constructed in 1973 with significant recent capital invested Building features reinforced concrete construction, clear heights ranging from 21' to 23', a 60 mil TPO roof system (under warranty) and LED/T-8 lighting throughout Located on acres, the site features truck courts up to 195' deep, 197 employee parking spaces and above standard trailer storage parking with 69 positions on-site and room for expansion The facility provides ample loading positions featuring twenty-eight (28) dock high doors and two (2) drive-in doors Touting excellent multi-tenant capabilities the property includes separately fenced in truck courts with dedicated entrances and two (2) distinct front entryways with attractive updated facade Recent building enhancements include upgraded lighting, newly painted exteriors, fresh landscaping and parking lot improvements, among others A rare feature in the Raleigh-Durham market, North Distribution Center is immediately adjacent to the Norfolk Southern Rail Line and features 14 rail doors and a rail spur (currently inactive) NORTH DISTRIBUTION 4

5 LO C AT I O N O V E R V I E W LAST MILE DISTRIBUTION LOCATION Ideally positioned on US- with excellent access to a network of major transportation arteries including future I-885, I-, and I-85, allowing distributors to reach 60% of the United States population within one day s drive Fordham Blv d Outstanding center-of-the-market location enables seamless access to Downtown Durham (3 miles), Raleigh (11 miles), Cary (15 miles) and the Raleigh-Durham International CHAPEL HILL Airport (12 miles) NORTH DISTRIBUTION Durham Fw y Strategically positioned six (6) miles from the world-renowned Research Triangle Park (RTP), which is home to an estimated 50,000 employees and 200 companies including multiple Fortune 500 firms like IBM, Lenovo, BASF, Cisco Systems, DuPont, Fidelity Investments and GlaxoSmithKline Northern Wa Research Triangle Park 86 RALEIGH The under construction I-885 corridor (East End Connector) is located less than one (1) mile from the property and will connect US- within a mile of I-85 when complete 0 CHAPEL HILL Unprecedented commercial development is underway in Durham to keep up with the almost 25 new people moving to the area daily, further enhancing the last mile location of North Distribution Center ke E 0 Raleigh-Durham International Airport Gl en wo od Av e 50 0 p e l Hi l C ha $250M 1,053 IN PROJECTS CURRENTLY UNDER CONSTRUCTION APARTMENTS UNITS UNDER CONSTRUCTION 0 906,422 CARY 4 CSF H OF A POFFICE E L HSPACE I L L UNDER CONSTRUCTION 1613 US Hwy M+ ANNUAL VISITORS N.1 BEST CITIES FOR MILLENNIALS IN THE U.S. (Growella) Wad e Ave 1600 o 4 CARY l Rd SNAPSHOT HOME TO. de E Clau M pe or em wy H ial Po 95% OF THE COMPANIES IN THE RESEARCH TRIANGLE PARK CARY NORTH DISTRIBUTION 5 RA

6 MARKET OVERVIEW EXCELLENT MARKET FUNDAMENTALS The Raleigh-Durham industrial market has set a record occupancy rate of 98% while posting nearly 1.6 million square feet of positive net absorption over the past 24 months, behind six (6) straight years of positive absorption Rental rates in the Raleigh-Durham market have reached record highs averaging $5.25 PSF, a 24% increase over the last 24 months Located within the 99.9% occupied South Durham submarket, rental rates in the submarket have grown by more than 47% over the past 24 months North Distribution Center sits on the border of the RTP/I- submarket, one of the most coveted industrial locations in the market, posting approximately 860,000 square feet of positive net absorption over the past 24 months Durham is home to the headquarters of several well-known companies including Bayer Crop Science, Burt s Bees, Cree, IBM, IQVIA, Toshiba Global Commerce, among others Known for lower operating costs and a welcoming business climate, the Raleigh-Durham market has recently been ranked #2 in the nation for best-performing cities and #3 in overall employment growth NORTH DISTRIBUTION 6

7 RESEARCH TRIANGLE PARK ID 14 stories of mixed use delivering 2018 BULLS BALL PARK DOWNTOWN DUKE UNIVERSITY HOSPITAL 2 million patients per year ONE CITY 27 story mixed-use tower, delivering 2018 UNITED STATES POSTAL SERVICE DUKE UNIVERSITY Largest employer in the County with ±12,000 employees; ±15,100 students CONVENTION TRANSIT INVESTMENT ADVISORS CHRIS NORVELL, SIOR Senior Managing Director cnorvell@hfflp.com PATRICK NALLY Director pnally@hfflp.com ANALYSTS 85 VALERIE DERRICK Analyst vderrick@hfflp.com UPS MIKE MASSARDO Associate mmassardo@hfflp.com DAVE ANDREWS Analyst dandrews@hfflp.com DEBT + STRUCTURED FINANCE RALEIGH FUTURE 885 FUTURE I-885 Delivering November mile connector $150 M ABF FREIGHT HARLEY-DAVIDSON ANTHONY FERTITTA Managing Director afertitta@hfflp.com LOCAL MARKET EXPERTISE JACKSON RIVES Managing Director Foundry Commercial Real Estate jackson.rives@foundrycommercial.com PCV DISTRIBUTION JUNCTION ROAD NORTH DISTRIBUTION HOOVER ROAD NORTH DISTRIBUTION 2018 HFF has been engaged by the owner of the properties to market them for sale. Information concerning the properties described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change. NORFOLK SOUTHERN RAIL LINE Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, HFF ), HFF Securities L.P. and HFF Securities Limited (collectively, HFFS ) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on