Petco & Borders $7,172, % CAP $609,655 NOI. Petco & Borders. Canton Township, MI Ford Rd Canton Township, MI 48187

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1 43473 Ford Rd $7,172, % CAP $609,655 NOI Borders is open with no plans to close this location Prime retail area across from Lowe's, JC Penney, Office Max, and Target Canton is one of the safest, wealthiest and fastest growing communities in the state Other area retailers include Kohl s, Meijer, Sears, Bed Bath Beyond, Marshalls & Ikea (only Ikea in the state) Excellent historical and projected population growth Median household income of $91,675 one mile There are 94,113 people within a three mile radius with an median household income of $91,683 Borders headquarters is 18 minutes away

2 PROPERTY SUMMARY: EXP Realty Advisors exclusively presents for sale a 36,601 sf retail building on 2.92 acres which is 100% leased to Petco (lease expires in 2017) and Border s (lease expires in 2023). Both leases have escalations in the base term and options. This corner property is adjacent to a new Lowe s and JC Penney and the Canton Cinema which is directly across Ford Road from Target. Office Max is across Morton Taylor Road. Ford Road is a major retail corridor with traffic counts of 33,400 vpd and over 300 businesses on it. Sam s Club, Wal-Mart and Home Depot are across I-275 which is directly east of the property as are IKEA, Sears and Bed, Bath & Beyond. Target, Kohl s, Meijer, Jo-Ann Fabrics and Kroger are to the west on Ford Road. Canton Township has a population of 82,075 and is 20 miles east of Ann Arbor which is the headquarters for Borders. Canton is Michigan s second largest township and is the 20 th safest municipality in the United States according to the FBI. It is one of Michigan s fastest growing communities. The Ikea near the property is the first and only Ikea in the State of Michigan. BORDER S Rent Commencement: September 20, 2007 Expiration Date: January 31, 2023 Size: Lease Type: PETCO Rent Commencement: October 1, 2007 Expiration Date: October 31, 2017 Size: Lease Type: 23,000 sf Reimbursable double net. Tenant is responsible for all maintenance, repairs and replacement to the HVAC and interior portion of the building including electrical windows and doors. Landlord is responsible to maintain the common areas of the property and is reimbursed by tenant for their pro-rata cost plus a 5% admin fee. Landlord is responsible for roof and structure which is the only non-recoverable cost. 13,601 sf Reimbursable double net. Tenant is responsible for all maintenance, repairs and replacement to the HVAC and interior portion of the building including electrical windows and doors. Landlord is responsible to maintain the common areas of the property and is reimbursed by tenant for their pro-rata cost plus a 10% admin fee. Landlord is responsible for roof and structure which is not part of cam. Base Term Options Border's Years Rent Rent psf Escalation , , % , % , % , % Total Rent 613, , % Reserves (3,660) (0.10) , % NOI 609, , % List Price: $7,172,400 NOI: $609,655 Cap Rate: 8.50% Bld. Sq Ft: 36,601 Acres: 2.92 Ownership: Fee Simple Assumable Financing: None Base Term Options Petco Years Rent Rent psf Escalation , , % , % , % , %

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4 Aerial site during development 33,400 VPD

5 Borders & Petco PETCO is a chain of retail stores that offers pet supplies and services such as grooming and dog training. Founded in 1965 and incorporated in Delaware, it is headquartered in San Diego, California, and is now a private company held by TPG Capital and Leonard Green & Partners. As of 2009, PETCO has over 990 locations in all 50 states and the District of Columbia. Petco is rated B stable by S&P. Borders Group, Inc., through its subsidiaries, operates book, music, and movie superstores. It also operates mall-based bookstores. As of January 31, 2009, Borders Group operated 518 superstores under the Borders name. It also operated 386 mall-based and other small format bookstores comprising stores under the Waldenbooks, Borders Express, and Borders Outlet names, as well as Borders-branded airport stores. Borders Group also offers its products through Internet. The company was founded in 1971 and is headquartered in Ann Arbor, Michigan.

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13 1-3-5 Mile Demographic Graphs

14 1-3-5 Mile Demographic Data 1 Miles: 3 Miles: 5 Miles: Population: 2009 Total Population 15,760 94, ,122 Male Population 48.7% 49.3% 49.0% Female Population 51.3% 50.7% 51.0% Median Age Population Density (per sq. mi.) 5, , ,446.2 Employees 4,951 31,129 96,374 Establishments 458 2,633 6,542 Income: 2009 Median HH Income $91,675 $91,683 $79,813 Per Capita Income $26,170 $27,175 $27,448 Average HH Income $78,972 $82,520 $77,447 Contact Us EXP Realty Advisors 118 East 28th Street Suite #808 New York, NY Phone: (212) Fax: (212) Households: 2009 Total Households 5,163 30,322 67,836 Average Household Size Household Grow th % 30.8% 24.2% Housing: 2009 Ow ner Occupied Housing Units 69.1% 65.2% 61.3% Renter Occupied Housing Units 15.1% 19.0% 22.6% Vacant Housing Units 15.8% 15.8% 16.1% Race: 2009 White 81.4% 79.6% 81.7% Black 7.5% 7.8% 8.5% American Indian, Eskimo, Aleut 0.1% 0.1% 0.1% Asian 8.9% 10.3% 7.5% Haw aiian or Pacific Islander 0.1% 0.1% 0.1% Other 0.4% 0.5% 0.5% Multirace 1.7% 1.6% 1.6% Population Trend ,381 66, , ,658 82, ,245 Change 1990 to % 24.0% 18.5% ,760 94, , ,399 97, ,037 Change 2009 to % 3.9% 5.2% Our Team Robert P. James President Phone: (212) rob@exp1031.com Douglas D. McCulloch Director of Sales Phone: (212) doug@exp1031.com Daniel de Sa Director of Sales Phone: (212) dan@exp1031.com