Office Space - SF. Rental Rate. Office Space - SF. Rental Rate

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2 No. Property Photo Park/Address Space Size SF Office Space - SF Rental Rate Annual Escalations Opex Term Free Rent Clear Height Dock Highs/ Drive-Ins Stone Mountain Industrial Park Stone Mountain, GA ,419 Existing $3.85 NNN 3% $ $ mos. N/A 18 Existing No. Property Photo Park/Address Space Size SF Office Space - SF Rental Rate Annual Escalations Opex Term Free Rent Clear Height Dock Highs/ Drive-Ins 2510 Mill Center Parkway Buford, GA ,320 9,961 $3.05 NNN 3% $ mos. 3 mos / Bonnie Valentine Way Pendergrass, GA ,525 3,000 $2.85 NNN 3% $ mos. 3 mos / Mount Zion Road Morrow, GA ,177 2,500 $2.35 NNN 3% $ mos. 3 mos / Old Dixie Highway Atlanta, GA ,000 8,000 $2.95 NNN 3% $ mos. 2 mos / Lee Industrial Boulevard Austell, GA ,800 14,000 $2.55 NNN 3% $ mos. 3 mos / E. Ponce de Leon Avenue Stone Mountain, GA ,100 6,000 $3.65 NNN 3% $ mos. 5 mos / 1

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5 10 Glenlake Parkway South Tower, Suite 1000 Atlanta, Georgia May 5, 2016 Mr. Nathan Anderson NAI Brannen Goddard 5555 Glenridge Connector Suite 1100 Atlanta, GA Re: Southern Regional Distribution Services, LLC PROPOSAL FOR LEASE OF INDUSTRIAL SPACE 1699 Litton Drive 4721 Lewis Road 1607 Mountain industrial Blvd 1640 Stone Ridge Stone Mountain, GA Dear Nathan, We are pleased to present Southern Regional Distribution Services with the following proposal to lease space in the Stone Mountain Industrial Park. Should the conditions set forth in this proposal meet with your approval, we shall proceed with the preparation of a lease renewal agreement. Thank you again we appreciate the opportunity to present this proposal and look forward to speaking with you soon. Please do not hesitate to contact me should you have any questions or comments. M. Brett Buckner Senior Vice President

6 Ackerman & Co. Page 2 TENANT LANDLORD BUILDINGS BUILDING MANAGEMENT PREMISES Southern Regional Distribution Services, LLC ( Tenant ) SMIP TT, LLC ( Landlord ) RENTAL COMMENCEMENT January 1, Litton Drive 1607 Mountain Ind Blvd Lewis Rd 1640 Stone Ridge Drive Stone Mountain, Georgia ( Buildings ) Ackerman & Co. will provide management for Stone Mountain Industrial Park. Comprised of 287,419 Rentable Square Feet ( RSF ). LEASE TERM BASE RENTAL OPERATING EXPENSES Thirty Six (36) months $3.85 per sq foot for all of the Premises. Tenant s Base Rent will escalate 3% per annum on each anniversary of the commencement date. In addition to the Base Rental above, the Tenant shall be responsible for its pro rata share of the Common Area Maintenance, taxes, and insurance. These expenses are estimated at this time to be: 1699 Litton Drive $.88 psf 4721 Lewis Road $.80 psf 1607 Mountain industrial Blvd $.63 psf 1640 Stone Ridge $.75 psf Tenant shall pay for its own utilities, janitorial, HVAC, trash removal, and general maintenance of the Premises. TENANT IMPROVEMENTS Tenant will accept the Premises in its as is condition. BROKERAGE TIME OF THE ESSENCE DISCLAIMER Ackerman & Co. is representing the Landlord in this proposed transaction and shall be compensated by the Landlord in accordance to a separate written agreement. NAI Brannen Goddard is representing the Tenant in this proposed transaction and shall be compensated by the Landlord in accordance to a separate written agreement Time is of the essence with respect to Tenant s execution and delivery to Landlord of a Lease evidencing the transaction described herein. These terms can be maintained for fourteen (14) days from the date of this proposal, subject to final Owner approval and availability. This proposal is not intended to be a contract. It is only an expression of the basis on which the Landlord and the Tenant would consider entering into a lease for the above mentioned Premises, and Landlord and Tenant shall have no obligation to lease the above mentioned Premises unless and until a

7 Ackerman & Co. Page 3 written lease agreement, in form and substance satisfactory to Landlord has been executed by both Landlord and Tenant. This proposal is also subject to other proposals that may have been submitted to other interested parties. By signing below, Tenant hereby agrees to the terms stated above and requests that a lease agreement be prepared. Tenant: Southern Regional Distribution Services, LLC By: Title: Date:

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9 Proposal Prepared for Southern Region Distribution Services, LLC Hamilton Mill Business Center, Building I 2510 Mill Center Parkway Buford, Georgia May 18, 2016

10 Table of Contents I. Introduction Letter II. Proposal Summary III. Hamilton Mill Business Center Location Map Aerial Master Plan Building Photo Building Site Plan Building Specifications Opportunity Zone Tax Credits IV. Response to RFP V. IDI Gazeley Information

11 I. Introduction Letter

12 May 18, 2016 Nathan Anderson NAI Brannen Goddard RE: Proposal for Southern Region Distribution Services, LLC Dear Mr. Anderson: Thank you for the opportunity to provide the enclosed proposal for your client, Southern Region Distribution Services, LLC. The enclosed proposal provides for SRDS to lease 301,320 square feet in Building I at Hamilton Mill Business Center a 870,480 square foot distribution facility, located in Buford, Georgia. The building offers many outstanding advantages to benefit your client, which include 35 6 clear ceiling height and a superior location for both local and regional distribution. Your review and consideration of the enclosed proposal is respectfully solicited. This proposal is valid for a period of two (2) weeks, subject to property availability, negotiation of a binding lease agreement and final Landlord internal approval. Please call if you have any questions. I look forward to working with you on your facility requirement. Cordially, Ryan Wood IDI Gazeley Market Officer ryan.wood@brookfieldlogistics.com Mr. Reed Davis Mr. Bob Currie JLL JLL Reed.davis@am.jll.com bob.currie@am.jll.com

13 II. Proposal Summary

14 Project Summary Total Building Square Footage Total Leased Square Footage 870,480 SF 301,320 SF Hamilton Mill Business Center Building I Buford, Georgia Lease Commencement Date November 1, 2016 Monthly Base Rent Lease Term Rental Rate Free Base Rent 63 Months $3.05/SF/NNN 3 months Annual Base Rent Escalations 3% Operating Expense Estimate 2015 Taxes: $0.32/SF Insurance: $0.04/SF CAM: $0.12/SF Utilities: $0.04/SF Management Fee: $0.14/SF Office Area 9,961 Column Spacing Slab Thickness Dock-High Doors Drive-In Doors 60 x 60 staging, 60 x 50 typical 7 inch, 4,000 PSI 50 doors 2 drive-in Clear-Height 35 6 Car Parking Trailer Parling Fire Protection 142 spaces 53 spaces ESFR system

15 III. Hamilton Mill Business Center

16 Hamilton Mill Business Center - Map

17 Hamilton Mill Business Center Aerial

18 Hamilton Mill Business Center Master Plan

19 Hamilton Mill Business Center, Building I Photo

20 Hamilton Mill Business Center, Building I Site Plan

21 Building Specifications Developer: Site Location: Site Acreage: Site Zoning: Building Size: Available Space: Building Configuration: Industrial Developments International (Georgia), L.P. The site is located within Hamilton Mill Business Center, a 250-acre Class-A business park in Buford, Georgia. ± acres M-1, Light Industrial 870,480 Square Feet 301,320 Square Feet Cross-Dock Facility Building Dimensions: 1404 x 620 Column Spacing: Truck Court: Site Utilities: 54 (W) x 50 (D) typical, staging is 54 (W) x 60 (D) 185 truck court (60 concrete apron), as shown on the enclosed site plan. All storm drainage is surface routed or piped to on-site detention ponds or directly to an abutting waterway. Sanitary sewer service is provided by an existing public sewer along the northern property line. Local impact fees are paid by the Developer. Utilities are provided by the local utility companies. The local suppliers are: Telephone Conduit: BellSouth; Service Provider is Tenant s choice. Power: City of Buford Gas: City of Buford (5 psi) and Tenant s selected marketer Water & Sewer: City of Buford Exterior Walls: Structure: Clear Height: Site cast tilt wall panels in accordance with Georgia Energy Code. Typical joist and girder steel frame and deck. The deck is primer white and the structural steel is primer gray. The building is 32 clear minimum, measured to the bar joist at the first column in from the front and back walls.

22 Building Specifications, Cont. Roof: Floor Slab: Exterior Shell Finishes: Storefront: Fire Protection System: Electrical Service: Exterior Lighting: Site Lighting: Plumbing: 45 mil, white TPO membrane, mechanically fastened system with a 10-year warranty. Insulation = R15. Roof access is via an exterior ladder on the rear wall. The main roof pitches each way, with drainage via traditional gutters and downspouts. The warehouse slab is 7 thick, 4000 psi concrete, reinforced with dowels and dowel baskets at all construction joints and control joints perpendicular to path of travel in on-staging areas. The slab is on grade with a vapor barrier at office areas only, and the floor joints are not sealed. The slab specification for flatness & levelness is Ff = 45, Fl = 35 overall. Textured paint on tilt wall panels. Front and side walls of the building will have partial form liner and reveals. Standard bronze aluminum storefront is provided at the front corners of the building as shown in the site plan. The storefront is 12 high and has bronzed insulated glass. A lighted EIFS soffit runs the length of the storefront. Blinds are covered by the office allowance. The shell is protected by an ESFR system. A pump in included in an interior pump room. The office is served by alight hazard system that is covered under the office allowance. The shell system is monitored to meet local codes. 3 phase, 480/277 volt system, with the amperage designed for the Tenant s specific requirements. Wall pack light fixtures are included on all sides of the building, and soffit lights are included in the soffit at the office storefront. 35 tall light poles at perimeter of truck court and parking per plans. Paved surfaces are lit with light poles at perimeter of truck court and parking areas. Sanitary service is provided by a 4 PVC main line that runs the length of the building (see floor plan for the exact location). A 3 domestic water line (2 domestic meter) is stubbed up on the east wall at the ramp. These are a shell cost and not part of the tenant s office allowance. The remainder of the under slab sanitary and water required for the final office plan will be covered by the office allowance.

23 Building Specifications, Cont. Dock Doors: Egress Doors: Parking: Trailer Parking: Includes one hundred fifty seven (157), manual 9 wide x 10 high insulated vertical-lift dock-high doors and two (2) manual 14 wide x 16 high insulated high-lift drive-in doors, each with a ramp. The dock high doors are protected by an exterior 4 cantilevered canopy. All doors have track guards and dock high doors have dock bumpers. Hollow metal doors and frames provided around the perimeter of the building to provide egress. Standard lever handle hardware is provided. 480 automobile parking spaces provided as shown on the site plan. 166 trailer parking spaces. Provided as shown on the site plan. Paved Areas: Light Duty Asphalt: Heavy Duty Asphalt: Truck Apron: Curb & Gutter: Sidewalks: 5 stone base, 2 asphalt binder and 1 topping. This includes all automobile parking areas shown in the site plan. 8 stone base with 2 asphalt binder and 1 topping. This includes the main truck aisles and truck court. 6 thick, 3500 psi, unreinforced concrete 60 deep. At all pavement edges. 4 thick, concrete at main entrance to offices and under the soffit area.

24 IV. Response to RFP

25 Response to RFP RFP Request IDI Gazeley Response Space 2510 Mill Center Parkway Buford, GA Occupancy Date November 1, 2016 Accepted Square Footage 301,320 square feet Accepted Lease Term Please propose 3 and 5 year leases 63 month term Rental Rate A net base rental during the lease term Other Charges $3.05/SF/NNN 3% escalations per annum Identify any other costs or responsibilities to be borne by Tenant Free Rent (Tenant has LED 12/31/16) 3 months of base rent abatement Cap on Operating Expenses Tenant requests a cap of 5% annually on all controllable operating expenses Accepted Building Maintenance Landlord to be responsible for all structural maintenance to include floors, roof, walls, foundation and paved areas. Accepted based on a commercially standard NNN lease form outlining maintenance responsibilities

26 Response to RFP, Cont. RFP Request IDI Gazeley Response Option to Renewal Tenant requires one five (5) year option to renew at market rates Accepted Improvements - Landlord to paint and carpet the office area. - Landlord shall provide additional T-5 lights with motion sensors to provide 25 candles throughout Office space currently has fresh paint and carpet and will be provided on an as-is basis. Warehouse currently contains T-5 lighting. Building Systems All dock equipment, HVAC, sprinkler systems, electrical and plumbing systems shall be placed in proper working order. Tenant shall have a $1,000/occurrence HVAC cap. Accepted subject to a $2,500/occurrence HVAC cap Signage Identify your standard dimensions and any restrictions regarding signage. Tenant prefers prominent signage on the front of the building. Sprinkler System ESFR sprinkler required Tenant s signage shall be at their own cost and expense. Landlord will allow signage on the building subject to approval. Accepted Agency Disclosure Landlord and Tenant both acknowledge that NAI Brannen Goddard is representing Tenant in this transaction Accepted Agency Commission The brokerage commission in this transaction is to be paid solely by the Landlord Accepted

27 V. IDI Gazeley Information

28 IDI Gazeley Overview IDI Gazeley is one of the world s leading investors and developers of logistics real estate. We have over 25 years of experience and a track record of delivering more than 250 million square feet of innovative warehousing, distribution and manufacturing facilities. Our unmatched expertise and focus on customer service have resulted in world-class developments across North America, Europe and China. IDI Gazeley is overseen by Brookfield Property Partners, a $123 billion owner, operator and investor in best-in-class real estate around the globe. As part of the Brookfield Logistics Properties platform, we have the assets and expertise to serve customers in both developed and emerging markets. However, we know success comes at the local level from deep industry knowledge and a desire to grow together with customers and shareholders. IDI Gazeley is among the world s foremost pioneers of environmentally sustainable warehouse development and are committed to delivering high-quality buildings that are less expensive to operate and maintain, that also meet stringent sustainable development standards. With combined ownership or interests in holdings valued at $3.6 billion and more than 250 million square feet (23 million square meters) of sustainable warehouse space developed for more than 900 customers in major markets and transport routes around the world, IDI Gazeley is a cornerstone for Brookfield Logistics Properties becoming the leading global logistics property company with a passion for service and excellence. For information, please visit About Brookfield Property Partners Brookfield Property Partners is one of the world s largest commercial real estate companies. Our goal is to be the leading global owner, operator and investor in best-in-class commercial property assets. Our diversified portfolio includes interests in over 100 premier office properties and over 150 best-in-class retail malls around the globe. We also hold interests in multifamily, industrial, hotel and triple net lease assets through Brookfield-managed private funds.

29 Our Commitment to Sustainability Sustainable development is a major initiative at IDI Gazeley. The company s state-of-the-art buildings across North America incorporate a host of energy-saving and environmentally responsible features, including white TPO roofing that helps cut energy consumption, skylights that reduce the need for artificial light and storm water systems that re-use rainwater for irrigation. As a member of the U.S. Green Building Council, IDI Gazeley participates in the LEED (Leadership in Energy and Environmental Design) program, which certifies buildings that achieve specific sustainability benchmarks. To date, IDI Gazeley has earned LEED certification for 29 projects totaling more than 14 million square feet, positioning IDI Gazeley to meet the rising demand from companies seeking the benefits of energy-efficient space. Furthermore, 9 IDI Gazeley employees have received or are pursuing LEED accreditation, which will ensure that each of IDI Gazeley s nine North America markets has at least one professional certified as an expert in the LEED certification process. Riverside Business Center, Building A Lithia Springs, GA LEED Certified May 2013

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32 For Lease 514,461 SF Warehouse Space Available 1791 Mt. Zion Road Morrow, Georgia ,461 Total Square Feet (Divisible) 13,500 Square Feet Office 24.7 Acres 72 Dock-High Doors (Loading on 3-sides) Two Drive-In Doors 22 Clear Height 5 Floor Thickness Skylights Throughout Wet & Dry Sprinkler System Site /480 volts 26 x 48 Typical Bay Size 130 Minimum Truck Court 110± Trailer Storage New Roof 2014 Information is deemed from reliable sources. No warranty is made as to its accuracy. BROKER Information Brad Pope, SIOR, CCIM bpope@naibg.com Jack Haden jhaden@naibg.com 5555 Glenridge Connector, Suite 1100 Atlanta, GA naibg.com

33 For Lease 514,461 SF Warehouse Space Available PROPERTY DESCRIPTION PROPERTY TYPE: Warehouse/Distribution BUILDING SIZE: 514,461 Square Feet SITE SIZE: 24.7 Acres BUILDING DIMENSIONS: 868 x 573 YEAR BUILT: 1971 EXTERIOR: Brick on Block ROOF: TPO Roof with a 15-Year Warranty Installed 2014 CLEAR HEIGHT: 22 COLUMN SPACING: 26 x 48 ELECTRICAL SYSTEM: 3,200 amp, 3-phase, 4-wire, 277/480 volt LOADING: 72 Dock-High Doors and 2 Drive-In Doors TRUCK COURT: Approximately Deep CAR PARKING: Approximately 50 Spaces Section ,046± SF Section ,740± SF Section 134B 44,064± SF Section 134A 27,448± SF Section ,393± SF Section ,393± SF Section ,377± SF BROKER Information Brad Pope, SIOR, CCIM bpope@naibg.com Jack Haden jhaden@naibg.com Information is deemed from reliable sources. No warranty is made as to its accuracy.

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35 tel fax Suite Glenridge Connector NE Atlanta GA May 12, 2016 Mr. Michael Beck Hailey Realty Company 3715 Northside Parkway, NW Suite Atlanta, GA Re: Southern Region Distribution Services, LLC RFP for 4099 Old Dixie Highway Dear Michael: NAI Brannen Goddard has been authorized by our client, Southern Region Distribution Services, LLC ( Tenant ), to submit the following request for a lease proposal regarding a new facility in the Northeast Submarket based upon the following terms and conditions: Space: 4099 Old Dixie Highway Atlanta, GA Occupancy Date: November September 1, 2016 Square Footage: Lease Term: Rental Rate: Other Charges: Free Rent: Cap on Operating Expenses: Building Maintenance: Option to Renewal: 230,000 square feet Please propose 3 and 5 year leases. 7 Year Lease Term A net base rental during the lease term.$2.95 NNN Identify any other costs or responsibilities to be borne by Tenant.NNN charges which include Taxes, Insurance and Common Area Maintenance (Tenant has LED 12/31/16)Two (2) months Tenant requests a cap of 5% annually on all controllable operating expenses. Landlord to be responsible for all structural maintenance to include floorsfloor slab, roof (not including membrane), walls, foundation and paved areas. Tenant requires one five (5) year option to renew at market

36 rates. Three percent (3%) above the previous year s rent and shall continue to increase by three percent (3%) per annum thereafter. Expansion: Discuss your ability to accommodate future expansion needs. Improvements: Building Systems: Signage: Sprinkler System: Agency Disclosure: Agency Commission: - Tenant requires 8,000 SF of office. Use allowance of $55/SF (Currently there is office space built out. Landlord agrees to build additional office space so the office space totals 8,000 square feet. - Tenant requires T-5 lights with motion sensors (throughout warehouse?). All dock equipment, HVAC, sprinkler systems, electrical and plumbing systems shall be placed in proper working order. Tenant shall have a $1,0002,500/occurrence HVAC cap. Identify your standard dimensions and any restrictions regarding signage. Tenant prefers prominent signage on the front of the building. As long as Tenant s signage is in accordance with project guidelines and the City of Atlanta sign criteria. Please specify sprinkler type. Landlord and Tenant both acknowledge that NAI Brannen Goddard is representing Tenant in this transaction. The brokerage commission in this transaction is to be paid solely by the Landlord. Thank you in advance for your interest in this opportunity. Sincerely, Nathan Anderson Managing Director

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38 May 16, 2016 VIA Mr. Nathan Anderson Managing Director NAI Brannen Goddard Suite Glenridge Connector Atlanta GA RE: Proposal to Lease 420 Lee Industrial Boulevard Dear Nathan, Pursuant to our recent discussions, please accept this letter as a formal offer to lease 420 Lee Industrial Boulevard, which sits in Cobb County and is located with Interstate 20 visibility. Additionally, the building is located in a Less Developed Census Tract, which provides for your client the opportunity for generally the same benefits of the Opportunity Zone. Please feel free to call with any questions or concerns regarding the following proposal, and I look forward to working through the details of the attached proposal with you and your client. Sincerely, Seefried Properties, Inc. Doug Smith Senior Vice President cc. Dan Wheeler, STAG Industrial

39 Proposal for Lease Southern Region Distribution Services, LLC May 16, 2016 GENERAL TERMS Building Location: Building Owner: Property Management: Facility: Premises: Office Area: Incentives: 420 Lee Industrial Boulevard Austell, Georgia STAG II Austell, LLC. Seefried Industrial Properties, Inc. 561,600 Square Feet Front Load 280,800 Square Feet Approximately 14,000 square feet existing. The existing office area includes a large break room and employee restrooms with lockers and multiple sinks and stalls. The facility is located in Cobb County Georgia in a Less Developed Census Tract. These are reviewed and renewed annually, and provide you with nearly identical benefits as the Opportunity Zone. These include a $3,500 tax credit against State tax liability per job created beyond the 5 th job. Should the company not have a state tax liability, they can count it against their federal withholding. Lease Commencement: November 1, 2016 Rent Commencement: February 1, 2017 Tenant responsible for paying pass through expenses during the abatement period. Term: Year One Base Rent: Sixty-Three (63) Months $2.55 per square foot per year, NNN Base Rental Rate Escalation: 3% per annum beginning in year 2 Lease Structure: Standard Industrial Net Lease. Tenant is responsible for its pro-rata share of all building taxes, insurance, its own utilities and other operating expenses. Landlord estimates that ad valorem property taxes and insurance will be $0.27 per square foot and $0.10, respectively, in 2016.

40 Proposal for Lease Southern Region Distribution Services, LLC May 16, 2016 CAM is currently estimated to be $.20/S.F. CAM includes but is not limited to water, sewer, landscaping, property management fees, and outside shared utilities. Landlord shall cap all Landlord controlled CAM items at 10% per annum cumulatively through the lease term. Building Construction: Building Depth: Ceiling Height: Dock Positions: Truck Court: Automobile Parking: Sprinkler System: Tenant Improvements: Security Deposit: Concrete Construction 520 from front to back 22' clear height one column bay in from dock Fourteen (14) dock high doors existing 130 deep Approximately 200 spaces available Wet System Tenant shall accept the premises in its current as-is, where-is condition except that Landlord shall provide a $290, Tenant Improvement Allowance to be used for improvements to the Premises that are mutually agreed upon by Landlord and Tenant. In addition, Landlord will put all electrical, plumbing, mechanical and dock equipment in good working condition. Upon lease execution, Tenant shall pay a security deposit in an amount to be determined upon a formal review of Tenant s most recent financials. Based upon Landlord s review of Tenant s financial condition, Landlord may require a guaranty to further secure Tenant s lease obligations. Renewal Option: HVAC: With nine (9) months written notice from Tenant to Landlord, Tenant shall have one (1) option to renew the Lease for an additional five years at the then market rental rate for similar bulk distribution product it the I-20 West submarket. Per language in the Lease, Tenant shall be responsible for the maintenance of the existing HVAC equipment with a periodic agreement with a reputable HVAC company. So long as Tenant maintains the equipment per the Lease, Landlord shall limit Tenant s exposure to major repairs or replacements of the HVAC equipment to $1,000 per occurrence.

41 Proposal for Lease Southern Region Distribution Services, LLC May 16, 2016 Landlord Responsibilities: Signage: Contingencies: Landlord, at Landlords sole cost and expense, shall be responsible for the replacement of the roof, foundation and walls of the building during the lease term, unless such damages are caused by (i) negligence or misconduct of Tenant (ii) normal wear and tear (iii) a result of improvements made by Tenant to the building and/or property. Tenant, at its own expense may place a sign on the monument signage following the Landlord s guideline for signage and all Cobb County regulations. This proposal constitutes only an expression of intent and does not constitute a binding agreement between signatories to consummate the transactions contemplated hereby, consummation of the transaction being specifically subject to the negotiation and execution of a definitive agreement embodying the terms and conditions as outlined herein. The terms as presented herein are wholly contingent upon Landlord s review and approval of Tenant s year to date and prior three year audited financial statements or Federal Tax Returns, prior leasing, Lender Approval and execution of the Lease Agreement by all parties. Landlord reserves the right to contract for hire all design, construction, and development firms as it feels appropriate given this project. The terms and conditions of this proposal shall expire May 30, 2016.

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