Westgate Center. Southwest Corner of Division Street & 25th Avenue South St. Cloud, Minnesota

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1 Westgate Center Southwest Corner of Division Street & 25th Avenue South St. Cloud, Minnesota For further information contact owner s exclusive representatives. Joe Girardi j.girardi@midamericagrp.com Emily Dutson edutson@midamericagrp.com Mark Robinson (a licensed MN Real Estate Broker) mrobinson@midamericagrp.com

2 W Division St (38,000 VPD) pylon pylon 27th Ave South th Ave South (16,439 VPD) Tenant Name Square Feet Lunds & Byerlys 36,752 OfficeMax 23,500 Planet Fitness 22,394 Pawn America 22,800 Total 105, st St Westgate Center offers a purchaser the opportunity to acquire a 100% leased grocery-anchored community shopping center located in St. Cloud, Minnesota. THE OFFERING Mid-America Real Estate Corporation, in cooperation with Mid-America Real Estate Minnesota, LLC (a licensed Minnesota broker), has been retained by the owner to sell the 100% fee simple interest in Westgate Center. This asset is an attractive real estate investment with the following compelling strengths: Premier Grocery Anchor Lunds & Byerlys anchors Westgate Center and provides strong drawing power to the asset. The grocer has a strong presence and significant following in Minnesota, with 25 stores throughout the Twin Cities metro area in addition to its store in St. Cloud. They enjoy tremendous brand loyalty and combine traditional grocery store offerings with an upscale prepared food and produce section of the store. Unparalleled Demographics Located at the southwest corner of Division Street (38,000 VPD) and 25th Avenue South (16,439 VPD), Westgate Center benefits from a high-density growth demographic profile. There are 101,000 residents enjoying an average household income of $63,800 within a 5-mile radius. Population is expected to grow 6.3% from 2017 to 2022 within the same radius. Prominent Retail Market Ideally positioned along Division Street, St. Cloud s busiest arterial road, the grocery-anchored center benefits from high consumer traffic. The retail trade area is anchored by GGP s Crossroads Center, a 900,000-squarefoot regional mall anchored by Macy s, JCPenney, Target, and Scheels, and a dynamic mix of specialty retailers including American Eagle, PINK, Forever 21, Francesca s, H&M, Kay Jewelers, and Victoria s Secret. Other prominent retailers in the trade area include TJ Maxx, Bed Bath & Beyond, Best Buy, Ulta, Barnes & Noble, Dick s, Kohl s, Old Navy, PetSmart, Home Depot, Walmart, and Menards. Daytime Population Given its proximity to downtown St. Cloud, Westgate Center enjoys a solid daytime population in excess of 86,800 people within a three-mile radius. Major drivers of daytime activity are employers such as CentroCare Health System (St. Cloud Hospital) and Electrolux Home Products, as well as St. Cloud University, the third-largest public university in Minnesota with total enrollment of over 19,600 students. Upside Potential Westgate Center features a unique valueadd opportunity as many of the tenants are paying well-below market rents. Landlord also has the right to terminate Pawn America, offering an opportunity for a purchaser to upgrade the space to a market-rate with a more prominent national retailer. The average base rent at the center is $6.70 PSF so the shopping center will be sold at a price far below replacement cost. Potential Yields The subject is offered free and clear of any existing debt, providing the opportunity for a buyer to take advantage of the favorable debt markets.

3 LOCATION & MARKET St. Cloud is the largest population center in Minnesota s central region and the state s third largest metro region with a population of over 195,900 residents within the MSA. Situated along the Mississippi River 60 miles northwest of Minneapolis, St. Cloud is one of Minnesota s fastest growing metro areas. The city s population grew 6.1% from 2005 to St. Cloud s economy is driven by high technology, industrial, education, medical, and retail industries. Major employers in the region include CentraCare Health Systems, Coborn s, Electrolux Home Products, and Capital One. The city is also home to St. Cloud State University, the third-largest public university in Minnesota with over 19,600 students. The Division Street trade area is defined by the large collection of category-killer retailers that serve a large population of the central region of Minnesota. The closest competing retail hubs are 60 miles southwest in Minneapolis and 55 miles north in Brainerd. As a result, retailers in St. Cloud generally perform at high-levels above national chain average. PROPERTY DESCRIPTION Originally constructed in 1970, Westgate Center features 105,446 square feet of retail space and is located on approximately 7.89 acres. The roof of the center was recently replaced and features a full Firestone warranty thru The shopping center benefits from excellent roadside visibility along Division Street and easy ingress and egress. Access to the center is provided by a fully signalized intersection at 25th Avenue South, as well as a curb cut at 27th Avenue South. The site features abundant parking with a parking ratio of 4.9 spaces per 1,000 SF. Demographic Profile 1 Mile Distance from Subject 3 Mile 5 Mile 2017 Population 11,931 71, ,118 Forecasted 2022 Population 12,673 75, ,463 % Change 2017 to % 5.6% 6.3% 2017 Households 4,905 28,264 39,742 Forecasted 2022 Households 5,214 29,965 42,374 % Change 2017 to % 6.0% 6.6% 2017 Housing Units 5,260 30,154 42, Median Home Value $136,782 $166,267 $178, Daytime Demographics 22,827 86, , Average Household Income $58,230 $60,270 $63, Median Household Income $47,422 $46,400 $49, Per Capita Income $24,386 $24,934 $26, Median Age

4 TENANCY Westgate Center is a 100% leased grocery-anchored shopping center featuring Lunds & Byerlys. The leading specialty grocer in Minnesota carries a variety of organic and natural foods, as well as a large assortment of prepared foods in addition to traditional grocery staples. The tenant has been operating at Westgate Center for nearly 25 years and has a long-term lease through July Planet Fitness recently signed a new 10-year lease in 22,394 square feet. Both a franchisor and operator of fitness centers, Planet Fitness has approximately 10.5 million members and over 1,400 stores in 49 states making it one of the largest fitness club franchisees. Entrepreneur included Planet Fitness in the top 25 of its 2018 Franchise 500 ranking. OfficeMax first opened at the center in 1993 and occupies 23,500 square feet. The tenant recently signed a three-year renewal paying an extremely low rent of $5.00 PSF providing tremendous upside. Pawn America is operating in 22,800 square feet with lease term through June 2023 and a low base rent of $6.00 PSF. The potential to secure long-term, market rate deals with trafficdriving tenants offers a substantial yield-enhancement opportunity for a purchaser. PRICING Westgate Center offers a purchaser the opportunity to acquire a 100% leased grocery-anchored shopping center located in St. Cloud, Minnesota. The property is being offered free and clear of any existing debt Net Operating Income: $672,991 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. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

5 Aerial View to the East Aerial View to the West