BLAKENEY COMMONS 10,000 RSF RETAIL SHOPPING CENTER - BRAND NEW CONSTRUCTION PLUS 20,000 RSF OF FUTURE DEVELOPMENT ACQUISITION POTENTIAL

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1 BLAKENEY COMMONS 10,000 RSF RETAIL SHOPPING CENTER - BRAND NEW CONSTRUCTION PLUS 20,000 RSF OF FUTURE DEVELOPMENT ACQUISITION POTENTIAL CHARLOTTE, NORTH CAROLINA EXECUTIVE SUMMARY 1 EXECUTIVE SUMMARY

2 The Opportunity Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp. a North Carolina licensed real estate broker ( HFF ) has been retained as the exclusive sales representative for Blakeney Commons, a 10,000 SF newly constructed neighborhood shopping center anchored by Lenox Salons. The center is 100% leased to three service-based retail tenants on ten-year triple net leases. The Property is located in Charlotte, NC along the highly trafficked Ardrey Kell corridor (22,000 VPD). It is conveniently located on the going-home side of the road and benefits from ~25,000 homes with $151,541 average household income within 3 miles. The Property is exposed to the rapid growth and transformation of the surrounding area, with several exciting new residential and commercial redevelopments announced and underway to support the influx of younger residents drawn to the area due to its proximity to downtown Charlotte and Ballantyne, affordable cost of living, and diverse amenities. Blakeney Commons presents an exceptional opportunity to acquire a brand new retail center in a flourishing Charlotte submarket. In addition, this site has entitlements for two additional 10,000 SF retail developments, which are available for purchase upon completion. Prospective buyers may inquire about purchasing these future assets as well. Property Summary ADDRESS 9208 Ardrey Kell Road Charlotte, NC OCCUPANCY 100% GLA 10,000 RSF ANCHOR TENANTS Lenox Salons YEAR 1 NOI $307,000 PRICE Best Offer Demographic Highlights SITE SIZE 5.97 Acres PARKING 155 spaces 5.17 per 1,000 TRAFFIC COUNTS 22,000 VPD on Ardrey Kell Road YEAR BUILT Statesville Rd 24 University City 11% 67,120 $151,541 PROJECTED POPULATION GROWTH IN THE NEXT 5 YEARS POPULATION WITHIN 3 MILE RADIUS ESTIMATED AVERAGE HOUSEHOLD INCOME WITHIN 3 MILE RADIUS 65% COLLEGE GRADUATE OR BETTER WITHIN 3 MILE RADIUS W ilkinson 273 Blvd Charlotte Douglas International Airport 0 Billy Graham Pkwy UPTOWN South End Dilworth South Blvd Myers Park Southpark NODA Plaza Midwood N Try on St 24 East Charlotte E Independence Blvd Charlotte MSA Highlights 18.19% 77,3 PROJECTED POPULATION GROWTH NEW JOBS ADDED in the last 24 months HOME TO UNIVERSITY OF NORTH CAROLINA-CHARLOTTE 4 th largest university in North Carolina 28,500+ undergrad and graduate students Student enrollment has grown 28% over the last eight years Ballantyne BLAKENEY COMMONS N O. 1 GROWTH IN NUMBER OF BUSINESSES wallethub.com of 260 large cities N O. 1 N O. 2 N O. 3 FASTEST POPULATION INCREASE PROJECTION United Nations BEST STATES FOR BUSINESSES + CAREERS Forbes of State REAL ESTATE MARKET S TO WATCH pwc and urban land institute of 75 cities EXECUTIVE SUMMARY 2

3 Investment Highlights STABILIZED SHOPPING CENTER IN AN A+ LOCATION Blakeney Commons offers investors a chance to own a newly constructed retail shopping center with longterm triple net leases in an affluent, high-growth submarket of Charlotte, NC. With close proximity to Blakeney, which is home to over 600,000 square feet of retail and anchored by Target, Harris Teeter, Marshall s, and HomeGoods, and a surrounding populous with average household incomes greater than $150,000, the future owner will reap the benefits of predictable cash flow and increasing retail demand in the area. BLAKENEY COMMONS TENANT ROSTER SUITE TENANT SF 100C&D Lenox Salons 5, B Nails Up! 2, A Amazing Lash 2,590 TOTAL SF 10,000 FUTURE ACQUISITION POTENTIAL Blakeney Commons is zoned, entitled, and ready for the construction of two additional 10,000 SF commercial buildings. This in an exceptional opportunity to add scale to your investment and control one of the last land sites available for commercial development in the Blakeney submarket. Future 10,000 SF Building Future 10,000 SF Building Suite 100C&D Lenox Salon ± 5,000 SF Suite 100B Nails Up! ± 2,410 SF Suite 100A Amazing Lash ± 2,590 SF Exact timing and tenant lineup of these future buildings has not yet been finalized. ARDREY KELL RD (22,000 VPD) EXECUTIVE SUMMARY 3

4 BLAKENEY SHOPPING CENTER OLD NAVY NEW YORK COMPANY HOMEGOODS MARSHALLS OFF BROADWAY SHOES TARGET HARRIS TEETER BANANA REPUBLIC VICTORIA SECRET JOS. A. BANK KAY JEWELERS LOFT BLAKENEY CROSSING SMOOTHIE KING MASSAGE ENVY NEWKS BEST BUY PETSMART OMAHA STEAK LONGVIEW COUNTRY CLUB ENCLAVE AT OLDE BLAKENEY New Construction Starting at $458K ARDREY KELL RD REA RD BLAKENEY PRESERVE HOMES Homes from $225K - $275K BLAKENEY HEATH HOMES Homes from $275K - $325K BLAKENEY COMMONS ARDREY NEIGHBORHOOD HOMES Homes from $450K-$650K ARDREY KELL HIGH SCHOOL BRAND NEW RETAIL CONSTRUCTION. THREE NNN LEASES WITH ANNUAL RENTAL ESCALATIONS. LOCATED IN A HIGH GROWTH AND SUPPLY CONSTRAINED RETAIL MARKET. DESIRABLE CHARLOTTE LOCATION Dense, in-fill market with strong population (+67,000) and expected growth (11.0%), and high incomes (+$151,000) within 3 miles. Charlotte was the ninth-fastest growing city in the U.S. in 20. High-performing retail shopping center submarket with vacancy rates of only 4.7% in Outer Southeast Charlotte. Unprecedented growth in this area will continue to strengthen the need for service and necessity-based retail, all of which will benefit Blakeney Commons. STABLE CASH FLOWS FROM SERVICE-ORIENTED RETAILERS All tenants have new ten-year triple net leases with rental escalations. Service retailers that thrive in economic expansions and are resilient in economic downturns. New construction, so no deferred maintenance or major capital expenses, which results in predictable cash flow. Anchored by Lenox Salons, which is a prestigious salon suite provider with five locations in Charlotte, NC and one location in Atlanta, GA. The tenant is corporately owned and has a very strong reputation and balance sheet. EXECUTIVE SUMMARY 4

5 DYNAMIC LOCATION WITH PREMIER ACCESSIBILITY Blakeney Commons is strategically located in a sought-after South Charlotte location near the intersection of Rea Road and Ardrey Kell Road, an established corridor flooded with residential and retail growth. This prime location in the prominent Outer Southeast Charlotte submarket offers excellent regional connectivity with convenient access to Interstate (<4.0 mi) and US 521 (Johnston Road) (2.5 mi). Access to these major roadways and a center-of-the-market position offers easy commutes to the surrounding executive communities as well as a robust, high-end retail amenity base that is very appealing to tenants and shoppers alike. ROBUST DEMOGRAPHIC ENCLAVE & STRONG ECONOMIC DRIVERS Exceptional Employment Base & Attractive Quality of Life Outstanding Demographics: AHHI - $151,541; Population 67,120 (three mile radius) Highly Educated Workforce Driven by Financial Services and Fortune 500 Companies such as Bank of America, Lowe s, Duke Energy, and Sealed Air Population 1-Mile 3-Mile 5-Mile 2021 Projection 13,372, , Estimate 12,102 67, , Est. Average Household Income $147,429 $151,541 $130,420 College Graduate or Better 63.5% 65.0% 58.0% Average Household Income PRESTIGIOUS SALON SUITE PROVIDER Lenox Salons is a European inspired, luxury salon that allows stylists to independently own and operate a customized salon with personalized products and services. Lenox offers an attractive alternative to the traditional salon model. Lenox is not a franchise; they are corporately owned and operated which allows them to present and maintain a consistently high level of quality and attention to detail. Currently, Lenox has five locations in Charlotte, NC and one location in Atlanta, GA. EXECUTIVE SUMMARY 5

6 investment advisors TOM KOLARCZYK (LEAD CONTACT) Associate Director debt + structured finance TRAVIS ANDERSON Senior Managing Director tanderson@hfflp.com CHRIS LINGERFELT Associate Director clingerfelt@hfflp.com BRENT BOWMAN Director (704) bbowman@hfflp.com RYAN CLUTTER Senior Managing Director rclutter@hfflp.com CORY FOWLER Associate Director cfowler@hfflp.com 201 NORTH TRYON STREET SUITE 1400 CHARLOTTE, NORTH CAROLINA SIX FORKS ROAD SUITE 876 RALEIGH, NORTH CAROLINA 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 24 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 sales, 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