La Madeleine, Pieology Cap Rate 5.3% Occupancy 100% Year Built 2015 Address 1201 Barbara Jordan Blvd 6 Austin, TX 78723

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2 Tenants La Madeleine, Pieology Cap Rate 5.3% Size 6,133 SF Occupancy 100% Land Area.58 Acres Year Built 2015 Address 1201 Barbara Jordan Blvd 6 Austin, TX EXECUTIVE SUMMARY HFF has been retained to offer qualified investors an opportunity to acquire the Class A - Mueller Regional Retail (the Property ), a 6,133 retail center in Austin, Texas. This premier property is located in the renowned Mueller redevelopment, a 700-acre mixed use, public private project between the City of Austin and Catellus, located in the city s central core. This asset is positioned in a dominant retail location, shadow anchored by Best Buy, PetSmart, Old Navy, Bed Bath & Beyond, Marshalls and Home Depot. The recently constructed property is 100% leased to two industry leading fast casual restaurants, La Madeleine and Pieology. These fundamentals, combined with the irreplaceable location within the Mueller redevelopment present an unparalleled investment opportunity.

3 700-Acre Master-Planned Community; 33-Acres Under Development 2 Million SF Commercial/Institutional; 312,000 SF Under Construction 2,600 Homes Completed; 1,200 Homes Under Construction Dell Children s Medical Center, The Thinkery, AISD PAC MUELLER BLVD RONALD MCDONALD HOUSE DELL CHILDREN S HOSPITAL BARBARA JORDAN BLVD LANCASTER DR TIFF S TREATS MATTRESS FIRM GNC SMASHBURGER GREAT NAILS SPRINT CHIPOTLE STARBUCKS CHAIR KING BACKYARD STORE PHONATIC WHICH WICH RESIDENCE INN BY MARRIOTT AUSTIN EAST AUSTIN FRENCH PLACE MUELLER PETSMART STAPLES MATTRESS 1 ONE PAPA JOHN S PIZZA JAMBA JUICE FROST BANK LA MADELEINE PIEOLOGY PIZZERIA CHERRYWOOD OLD NAVY WELLS FARGO BANK RUE 21 LANE BRYANT FIVE BELOW DOWNTOWN AUSTIN MARSHALLS BED BATH & BEYOND BEST BUY THE HOME DEPOT 45TH STREET HYDE PARK AIRPORT BLVD 225,578 VPD THE UNIVERSITY OF TEXAS CORE LOCATION Highly coveted Austin urban infill location just three miles from Downtown Austin and two miles from the University of Texas The newly opened, $295 million University of Texas Dell Medical School welcomed its first class in 2016 AWARD WINNING COMMUNITY The Mueller redevelopment is a 700-acre mixed-use public private project between the City of Austin and Catellus located in the City s central core The community is a pedestrian friendly and transit oriented model of new urbanism and sustainability Mueller is currently home to approximately 6,500 residents, 4,900 employees, The Dell Children s Medical Center with 176 beds and 144,000 annual patient visits, The Thinkery (Austin Children s Museum) with 600,000 annual visitors and the AISD Performing Arts Center Commercial and Institutional properties total approximately 2 million square feet with an estimated 4.6 million square feet upon completion Shadow anchored retail within the Mueller Regional Power Center includes Best Buy, PetSmart, Old Navy, Bed Bath & Beyond, Marshalls and Home Depot; The Market District is anchored by HEB Grocery The recently completed Alamo Drafthouse movie theater offers 6 screens and over 600 seats All of the buildings within Mueller, including the subject Property, meet extensive sustainability and green building requirements 51ST STREET

4 INDUSTRY LEADING TENANTS: SECURE CASH FLOW Mueller Regional Retail is a Class A property 100% occupied by two industry leading fast casual restaurants, La Madeleine and Pieology Both tenants are E-Commerce resistant, offering investors security against the Amazon Effect within the retail industry With approximately 6,500 residents in Mueller and 14,300 at full build out, growth in both tenant sales and customer loyalty increase renewal probability The Property offers a weighted average lease term of 7.9 years, with additional renewal options for each tenant Rental increases help to hedge against inflation and provides an 11% increase in NOI over a five year period INSTITUTIONAL QUALITY & EASE OF OWNERSHIP Class A, institutional quality asset developed by Catellus in 2015 Recent construction minimizes future capital requirements Triple net lease structure offers minimal management responsibility to passive investors Growth and popularity of fast casual dining concept presents investors minimal risk of tenant default, while simultaneously increasing likelihood of renewal

5 TENANT PROFILES La Madeleine La Madeleine occupies 4,400 square feet of space and has a lease agreement through March of Based in Dallas, La Madeleine opened its first restaurant in 1983, growing from a simple French bakery, to more than 70 locations nationwide. Corporately owned and operated, this La Madeleine location is also corporately guaranteed. La Madeleine has grown by serving top quality, handcrafted, French-inspired dishes. La Madeleine has enjoyed success by embracing the fast-casual restaurant concept, capitalizing on the popularity from millennial consumers. The inherently healthy menu has helped La Madeleine attract and retain a loyal customer base. Pieology Pieology occupies 1,733 square feet of space and has a lease agreement through July of Based in Rancho Santa Margarita, Califorina, Pieology has exploded in growth, benefiting from the rise in consumer preference towards the fast-casual restaurant concept. Privately held, Pieology reported sales of growth of 67% in Pieology was the fourth fastest growing restaurant chain according to Technomic s Top 500 Chain Restaurant report. Pieology has 100 locations nationwide, with plans for aggressive, yet strategic, expansion.

6 CATHY NABOURS WALTER SAAD DREW FULLER Managing Director Managing Director Associate Director MICHAEL RESTIVO BENTLEY SMITH CASEY WENZEL - DEBT CONTACT Analyst Analyst Associate Director mrestivo@hfflp.com bsmith@hfflp.com cwenzel@hfflp.com Atlanta Austin Boston Carolinas Chicago Denver Dallas New Jersey Houston Indianapolis London Los Angeles Miami New York Orange County Orlando Philadelphia Phoenix Pittsburgh Portland San Antonio San Diego San Francisco Tampa Washington, D.C. London 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.