ACADEMY SPORTS A 15-YEAR CORPORATE LEASED STORE WILMINGTON, NC

Overview ACADEMY SPORTS 5309 GINGERWOOD DR WILMINGTON, NC 28405 $9,180,000 PRICE 7.50% CAP LEASABLE SF 63,109 SF LAND AREA 4.15 Acres LEASE TYPE Corporate NN LEASE EXPIRATION 2/28/2033 YEAR BUILT 2018 PARKING 380 Spaces $4 Billion Revenue Company Positioned in Wilmington s best retail trade area surrounded by Costco, Target, and Walmart Incredible visibility from both Market Street and College Rd (94,000 Vehicles Per Day) Wilmington, NC has experienced 56% population growth since 2000 50% Growth Projected through 2040 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. Buyer must verify the information and bears all risk for any inaccuracies. Nearly 50,000 students and faculty from two major colleges with in a 5-mile radius, creating a dedicated, retail-oriented population 2

Investment Highlights THE SUBJECT PROPERTY is a brand new 15-year corporate Academy Sports + Outdoors located in the primary retail corridor of Wilmington, North Carolina. Priced at only $145/ft., the lease features $0.50 per SF rent increases every 5 years. The tenant is responsible for all operating expenses, HVAC, and interior non-structural portions of the building making it a hassle-free investment. Wilmington is experiencing tremendous income and population growth due to the job growth and strong education base. THE PROPERTY benefits from its positioning within Wilmington s largest retail corridor. Immediate area retailers include Target, Walmart, Costco, Sam s Club, Lowe s, and The Home Depot. Wilmington has a 117,000 person population and is the home to the UNC Wilmington campus, which enrolls nearly 50,000 students and faculty. Contact the team JOHN ANDREINI jandreini@capitalpacific.com PH: 415.274.2715 CA BRE# 01440360 JUSTIN SHARP jsharp@capitalpacific.com PH: 415.274.7392 CA BRE# 01895013 IN CONJUNCTION WITH NC LICENSED BROKER: Stuart Mullen Commercial Real Estate Carolina, LLC stuart@rangeds.com PH: 704.661.9800 ACADEMY SPORTS + OUTDOORS REVENUE WAS $4.7 BILLION IN 2017 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. Buyer must verify the information and bears all risk for any inaccuracies. 3

Zoomed-In Aerial CHARLOTTE 199 MILES E LLEG S COROAD 74 NEW HANOVER COUNTY MARKET STREET MARKET STREET LENNON D RIVE GINGERWOOD DRIVE 56,379 74 EG E RO AD 63,885 N CO LL 33,037 MARTIN L UTHER KIN G JR PARK 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. Buyer must verify the information and bears all risk for any inaccuracies. WAY 74 4

N COLLE ROAD GE Zoomed-Out Aerial WILMINGTON INTERNATIONAL AIRPORT 74 33,037 51,867 BUS 74 MLKJR PARKWAY 17 T TS E RK MA ET RE MIDDLE SCHOOL SCHOOL 56,379 ACADEMY ET MARK BUS 17 T STREE 74 ELEMENTARY SCHOOL EA S ROTWO AD OD 17 GOLF COURSE SC OL LE GE RO AD 37,959 OL EA 117 ND 52,186 63,885 ER DR IVE UNIVERSITY OF NORTH CAROLINA WILMINGTON NEW HANOVER REGIONAL MEDICAL CENTER OLEANDE R DRIVE HIGH SCHOOL GOLF COURSE 117 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. Buyer must verify the information and bears all risk for any inaccuracies. NEW HANOVER REGIONAL MEDICAL CENTER CHARLOTTE 199 MILES YACHT CLUB 17 29,674 5

Surrounding Retail 0.2 MILES FROM PROPERTY 0.3 MILES FROM PROPERTY 453 FEET FROM PROPERTY 6

Income & Expense PRICE $9,180,000 Price Per Square Foot: $145.46 Capitalization Rate: 7.50% Total Rentable Area (SF): 63,109 Lot Size (AC): 4.15 STABILIZED INCOME PER SQUARE FOOT Scheduled Rent $10.91 $688,519 Effective Gross Income $10.91 $688,519 LESS PER SQUARE FOOT Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses NNN $0.00 EQUALS NET OPERATING $688,519 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. Buyer must verify the information and bears all risk for any inaccuracies. 7

Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY TENANT NAME SQ. FT. CURRENT RENT MONTHLY RENT YEARLY RENT MONTHLY RENT/FT YEARLY RENT/FT Academy Sports 63,109 1/10/2018 2/28/2023 $688,519 $57,377 $688,519 $0.91 $10.91 3/1/2023 2/28/2028 $60,006 $720,074 $0.95 $11.41 3/1/2028 2/28/2033 $62,636 $751,628 $0.99 $11.91 Option 1 3/1/2033 2/28/2038 $65,265 $783,183 $1.03 $12.41 Option 2 3/1/2038 2/28/2043 $67,895 $814,737 $1.08 $12.91 Option 3 3/1/2043 2/28/2048 $70,524 $846,292 $1.12 $13.41 TOTALS: 63,109 $688,519 $57,377 $688,519 $0.91 $10.91 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. Buyer must verify the information and bears all risk for any inaccuracies. 8

Lease Abstract PREMISE & TERM TENANT Academy Sports + Outdoors BUILDING SF 63,109 SF LEASE TYPE Corporate NN TERM 15 Years RENT COMMENCEMENT January 10, 2018 EXPIRATION February 28, 2033 OPTIONS Three 5-year options RENT BASE RENT DATE RANGE MONTHLY RENT ANNUAL RENT 1/10/2018-2/28/2023 $57,377 $688,519 3/1/2023-2/28/2028 $60,006 $720,074 3/1/2028-2/28/2033 $62,636 $751,628 OPTION RENTS DATE RANGE MONTHLY RENT ANNUAL RENT #1. 3/1/2033-2/28/2038 $65,265 $783,183 #2. 3/1/2038-2/28/2043 $67,895 $814,737 #3. 3/1/2043-2/28/2048 $70,524 $846,292 EXPENSES TAXES Tenant shall reimburse Landlord its proportionate share of real property taxes. COMMON AREA Tenant shall reimburse Landlord its proportionate share of common areas expenses. UTILITIES Tenant shall pay all charges for gas, water, electricity, and any other utility services. INSURANCE Tenant shall maintain the following insurance policies: (1) Commercial general liability insurance with limits no less than $3 million per occurrence and $5 million in aggregate; (2) Special form insurance covering the Premises. TENANT S OBLIGATIONS Tenant is responsible for the maintenance and repair of the nonstructural portions of the premises, including (but not limited to) HVAC, plumbing, window glass, and fire protection systems. LANDLORD S OBLIGATIONS Landlord is responsible for the maintenance and repair of the roof and structure (20 year roof warranty currently in-place). 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. Buyer must verify the information and bears all risk for any inaccuracies. 9

Tenant Overview ABOUT ACADEMY SPORTS Academy Sports + Outdoors is a premier sports, outdoor, and recreation lifestyle retailer with a unique assortment of quality hunting, fishing, and camping equipment and gear along with sports and leisure products, footwear, apparel, and much more. Since their first store in 1938, they have grown to over 240 stores in 16 states and they employ more than 23,000 team members throughout the South, Southeast and Midwest. Annual sales have steadily climbed for Academy Sports + Outdoors. Sales reached one billion dollars in 2004, two billion dollars in 2007, and three billion dollars in 2012. Today, annual sales exceed $4.7 billion. $4.7B 2017 REVENUE 240+ LOCATIONS IN 16 U.S.. STATES 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. Buyer must verify the information and bears all risk for any inaccuracies. 10

Site Plan 63,109 RENTABLE SF 4.15 ACRES 380 SPACES 63,885 N COLLEGE ROAD S COLLEGE ROAD S COLLEGE ROAD GINGERWOOD DRIVE LENNON DRIVE LENNON DRIVE (NAP) GINGERWOOD DRIVE MARKET STREET 56,379 This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 11

Demographics POPULATION 1-MILE 3-MILES 5-MILES 2010 8,056 56,858 125,555 2018 9,044 63,868 141,353 2023 9,691 68,591 151,888 CHARLOTTE (199 MILES) 2017 HH INCOME 1-MILE 3-MILES 5-MILES Average $45,630 $60,139 $72,337 WILMINGTON TOP EMPLOYERS EMPLOYER New Hanover Regional Medical Center/Cape Fear Hospital # OF EMPLOYEES 6,123 MYRTLE BEACH (99 MILES) New Hanover County Schools 4,443 Wal-Mart Stores 2,592 GE Wilmington 2,175 UNC Wilmington 1,860 THE AVERAGE HOUSEHOLD INCOME WITHIN A 5-MILE RADIUS IS OVER $72K 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. Buyer must verify the information and bears all risk for any inaccuracies. 12

Location Overview WILMINGTON, NORTH CAROLINA WILMINGTON is located between the Cape Fear River and Atlantic Ocean. The city retains a charming, small town atmosphere despite being the largest city in southeastern North Carolina and the eighth largest city in the state. Wilmington s thriving business climate has attracted corporations such as GE Hitachi Nuclear Energy, Corning, Verizon Wireless, and PPD. Visitors are drawn to the city by the charming historic district, lively arts scene, a major seaport, the University of North Carolina Wilmington, the Battleship North Carolina, Gothic churches, and riverfront shops. Wilmington s natural attributes shine with miles of unspoiled beaches and outstanding seafood restaurants along the coast. In 2016, Wilmington experienced a 6.3% increase in visitor spending. ABOUT UNC WILMINGTON UNC WILMINGTON is a public, four-year university located just 15 minutes from downtown Wilmington. A public institution with nearly 15,000 students, the university offers a total of 93 degrees ranging from Bachelor to Doctoral level. The University has a statewide economic impact of $27.9 Billion. 263,429 WILMINGTON MSA POPULATION (ESTIMATED) 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. Buyer must verify the information and bears all risk for any inaccuracies. 13

We d love to hear from you. JOHN ANDREINI jandreini@capitalpacific.com PH: 415.274.2715 CA BRE# 01440360 JUSTIN SHARP jsharp@capitalpacific.com PH: 415.274.7392 CA BRE# 01895013 IN CONJUNCTION WITH NC LICENSED BROKER: Stuart Mullen Commercial Real Estate Carolina, LLC stuart@rangeds.com PH: 704.661.9800 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. Buyer must verify the information and bears all risk for any inaccuracies.