OFFERING MEMORANDUM MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK NATIONAL OFFICE GROUP

OFFERING MEMORANDUM MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK NATIONAL OFFICE GROUP

TABLE OF CONTENTS THE OFFERING Disclaimer & Limiting Conditions 3 Executive Summary 4 Property Overview & Terms 5 MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia THE PROPERTY Photos 6 Location Maps 8 Demographics & Traffic Count 10 Floor Plans 11 Survey 15 TENANT PROFILE Tenant Information 16 THE MARKET Sold Comparables 17 Rent Comparables 19 Market Trends 21 About The Area 22 Broker Profile 24 Confidentiality Agreement 26 PAGE 2 OF 26

DISCLAIMER & LIMITING CONDITIONS This Confidential Offering Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based upon assumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospective purchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made available to qualified prospective purchasers. In this Confidential Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete or accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to review independently all documents. This Confidential Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein. Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with any party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this Confidential Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner/Seller and any conditions to the purchaser s obligations therein have been satisfied or waived. The Seller reserves the right to move forward with an acceptable offer prior to the call for offers deadline. This Confidential Memorandum may be used only by parties approved by the Owner. The Property is privately offered, and by accepting this Confidential Memorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Confidential Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Confidential Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. or Owner/Seller. The terms and conditions set forth above apply to this Confidential Memorandum in its entirety and all documents, disks and other information provided in connection therewith. MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 3 OF 26

THE OFFERING EXECUTIVE SUMMARY MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 4 OF 26 METRO ATLANTA AREA STABLE OFFICE INVESTMENT OPPORTUNITY Bull Realty is pleased to present the opportunity to acquire a fully leased, high cash flow property which also offers additional upside. With the low interest rates available today, returns are very high on a 10.5% cap rate. Additional upside comes from rents being under market evidenced by the market rent survey and the waiting list of new tenants. The Park is easy to manage, maintain and cash flow. The small size of the suites practically eliminates leasing commissions, TI costs and vacancy. 64,033 SF on 5.4 Acres 10.5% Cap Rate 100% occupied with waiting list Stable income and tenant history Built in 1974 and 1986 in 2 phases Well maintained and excellent tenants PRICE $3,800,000 CAP RATE 10.5% NOI $400,000

PROPERTY OVERVIEW & TERMS THE OFFERING MEMORIAL BEND Address 778 & 798 Rays Road Stone Mountain, GA 30083 County DeKalb Square Footage 28,741 SF Assessor s Parcel 18-069-04-003 Acreage 2.2 AC Zoning O & I Year Built 1974 Construction Blonde brick Parking 192 spaces - shared Stories 1 Elevator Access No MEMORIAL PLACE Address 5300 Memorial Drive Stone Mountain, GA 30083 County DeKalb Square Footage 35,292 SF Assessor s Parcel 18-069-04-004 Acreage 3.2 AC Zoning O & I Year Built 1986 Construction Red brick Parking 192 spaces - shared Stories 2 - with elevator access Elevator Access Yes MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 5 OF 26

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AREA LOCATION MAPS 5300 MEMORIAL DRIVE & 778 RAYS ROAD NELSON 575 GAINESVI DALLAS CANTON LAKE LANIER CUMMING 985 CARTERSVILLE HOLLY SPRINGS MILTON 400 BUFORD BRASELTON ACWORTH WOODSTOCK ALPHARETTA DOUGLASVILLE KENNESAW 75 MARIETTA POWDER SPRINGS MABLETON 20 SMYRNA ROSWELL SANDY SPRINGS DORAVILLE SUWANEE NORCROSS NORTH TUCKER ATLANTA 285 ATLANTA DECATUR JOHNS CREEK 85 LILBURN LAWRENCEVILLE SNELLVILLE PEACHTREE DEKALB AIRPORT WINDER MONROE HARTSFIELD-JACKSON INTERNATIONAL AIRPORT UNION CITY FAIRBURN EAST POINT FOREST PARK RIVERDALE STOCKBRIDGE CONYERS 20 COVINGTON 85 JONESBORO FAYETTEVILLE 75 MCDONOUGH PEACHTREE CITY PAGE 8 OF 26

AREA HIGHLIGHTS MEMORIAL BEND SHOPPING CENTER KROGER GEORGIA PERIMETER COLLEGE GEORGIA PIEDMONT TECHNICAL COLLEGE STONEMONT VILLAGE CENTER WALMART STONE MOUNTAIN IMMEDIATE MEDICAL CENTER 2.9 Miles from Interstate 285 4.2 Miles from Stone Mountain Park Numerous retail and dining options in close proximity to property Less than 30 minutes from Downtown Atlanta Within 1 mile of subject property: Walgreens Dollar Tree Office Depot Georgia Perimeter College Georgia Technical College Wells Fargo Bank Chick Fil A Public Storage Georgia Department of Drivers Services Memorial Bend Shopping Center Pizza Hut Subway IHOP Stonemont Village Center Taco Bell Domino s Pizza Planet Fitness T-Mobile PAGE 9 OF 26

DEMOGRAPHICS & TRAFFIC COUNT THE PROPERTY 8,180 MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 10 OF 26 34,780 35,879 2015 DEMOGRAPHICS (esri) 1 MILE Population 14,667 Households 5,289 Average Household Income $46,645 3 MILES Population Households Average Household Income Population Households Average Household Income 102,444 38,003 $49,405 5 MILES 225,168 89,120 $65,366 37,107

FLOOR PLAN MEMORIAL BEND 778 RAYS ROAD FIRST FLOOR THE PROPERTY 798 RAYS ROAD FIRST FLOOR MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 11 OF 26

FLOOR PLAN MEMORIAL PLACE THE PROPERTY 5300-A MEMORIAL DR FIRST FLOOR MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 12 OF 26 5300-A MEMORIAL DR SECOND FLOOR

FLOOR PLAN MEMORIAL PLACE 5300-B MEMORIAL DR FIRST FLOOR THE PROPERTY 5300-B MEMORIAL DR SECOND FLOOR MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 13 OF 26

FLOOR PLAN MEMORIAL PLACE THE PROPERTY 5300-C MEMORIAL DR FIRST FLOOR MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 14 OF 26

SURVEY THE PROPERTY MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 15 OF 26

TENANT INFORMATION TENANT PROFILE TENANT PROFILE MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia Approximately 71 tenants occupy the complex, most have been in place for many years. With such a strong tenant history, there is a waiting list for potential occupants. The small size of the spaces minimizes leasing commissions, almost eliminates TI costs and keeps vacancy low. Sample tenants include attorneys, psychiatrists and small industry professionals. For a rent roll and full financials, complete the confidentiality agreement on page 26. PAGE 16 OF 1

SOLD COMPARABLES 1 2 SUBJECT PROPERTY THE MARKET MAP # STREET ADDRESS CITY SIZE SOLD DATE SALE PRICE PRICE/SF DETAIL PAGE Subject Property 778 & 798 Rays Road, 5300 Memorial Drive Stone Mountain 64,033 SF $3,800,000 $59.34 18 1 833 Campbell Hill Street Marietta 63,000 SF 10/01/2015 $4,650,000 $73.81 18 2 1090 Northchase Parkway Marietta 106,065 SF 02/12/2016 $9,000,000 $84.85 18 3 1500 Cedar Grove Road Conley 50,000SF 02/22/2016 $4,050,000 $81.00 18 3 MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 17 OF 26

INDIVIDUAL SOLD COMP PROPERTY INFORMATION SUBJECT PROP - 778 & 798 Rays Rd 5300 Memorial Dr Property Size 64,033 SF Sale Price $3,800,000 Price/SF $59.34 SOLD COMP - 833 Campbell Hill St 1 Property Size 63,000 SF Closing Date 10/01/2015 Sold Price $4,650,000 Price/SF $73.81 THE MARKET MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 18 OF 26 COMMENTS: This office complex was built in two phases, 1974 and 1986. It is currently 100% occupied with waiting list. SOLD COMP - 1090 Northchase Pkwy 2 Property Size 106,065 SF Closing Date 02/12/2016 Sold Price $9,000,000 Price/SF $84.85 COMMENTS: This office park was built in 1988. It sold at 96% occupancy at a 8% cap rate. COMMENTS: This medical office building was built in 1977. The property was 77% leased at time of sale. SOLD COMP - 1500 Cedar Grove Rd 3 Property Size 50,000 SF Closing Date 02/22/2016 Sold Price $4,050,000 Price/SF $81.00 COMMENTS: This office building was built in 1971. It was 100% leased at time of sale.

RENT COMPARABLES 2 4 SUBJECT PROPERTY THE MARKET MAP # STREET ADDRESS CITY RENTABLE AREA Subject Property 778 & 798 Rays Road, 5300 Memorial Drive Stone Mountain OCCUPANCY RENT TYPE PRICE/SF DETAIL PAGE 64,033 SF 100% Excluding Janitorial $11.67 20 1 4319 Covington Highway Decatur 47,158 SF 52% Full Service $14.00 20 2 2771 Lawrenceville Highway Decatur 12,500 SF 68.9% Full Service $15.00 20 3 4151 Memorial Drive Decatur 12,438 SF 91.5% Full Service $14.50 20 4 2200 Northlake Parkway Tucker 17,405 SF 44.9% Modified Gross 3 1 $15.00 20 MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 19 OF 26

INDIVIDUAL RENT COMP PROPERTY INFORMATION SUBJECT PROP - 778 & 798 Rays Rd 5300 Memorial Dr Rentable Area 64,033 SF Occupancy 100% Price/SF $11.67 RENT COMP - 4319 Covington Hwy 1 Rentable Area 47,158 SF Occupancy 52% Price/SF $14.00 THE MARKET MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 20 OF 26 COMMENTS: This office park was built in two phases, 1974 and 1986. It is currently 100% occupied with waiting list. Amenities include on site management and 192 parking spaces. RENT COMP - 2771 Lawrenceville Hwy 2 Rentable Area 12,500 SF Occupancy 68.9% Price/SF $15.00 COMMENTS: This office building was built in 1985. The property has 50 parking spaces. RENT COMP - 2200 Northlake Pkwy 4 Rentable Area 17,405 SF Occupancy 44.9% Price/SF $15.00 COMMENTS: This office park was built in 1974. It has 40 parking spaces. COMMENTS: This office park was built in 1974. Amenities include on site management, 165 parking spaces and 24 hour availability. RENT COMP - 4151 Memorial Drive 3 Rentable Area 12,438 SF Occupancy 91.5% Price/SF $14.50 COMMENTS: This office park was built in 1974. It has 350 parking spaces.

MARKET TRENDS Vacancy in the submarket has been declining since 2013 Rents have been increasing since 2013 THE MARKET *Source CoStar MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 21 OF 26

ABOUT THE AREA LOCATION STONE MOUNTAIN, GEORGIA THE MARKET MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 22 OF 26 Located on the eastern side of DeKalb County, Stone Mounatin is a small city of about 5,802 according to the 2010 Census, and spans 1.7 square miles. Best known for its proximity to Stone Mounatin and Stone Mounatin Park, the city s economy benefits greatly from both nationally known attractions. Drawing over 4,000,000 visitors annually, the park sits on 3,200 acres and hosts 15 miles of wooded nature trails, family friendly attractions, seasonal shows and has a variety of dining and retail options. Atlanta s DeKalb County is located six miles east of downtown. The population of the county is approximately 700,000. DeKalb County s county seat is the City of Decatur and it is the third-most-populated county in Metro Atlanta containing roughly 10 percent of the city of Atlanta. The county includes the cities of Avondale Estates, Brookhaven, Chamblee, Clarkston, Decatur, Doraville, Dunwoody, Lithonia, Pine Lake, Stone Mountain, and areas of Atlanta. It includes many unique, identifiable communities including Beacon Heights, Candler Park, East Atlanta Village, Druid Hills, Ellenwood, Lynwood Park, Oakhurst, Scottdale, Shermantown, Toco Hills and Tucker. DeKalb County is international, eclectic and diverse, boasting a selection of exciting attractions, world-class museums, art centers, music venues, universities, original neighborhoods, restaurants and one-of-a-kind shops. DeKalb is only ten miles from Hartsfield-Jackson Atlanta International Airport and is easily accessible by I-85, I-75, I-675, I-285, and MARTA, Atlanta s rapid transit system. It is home to DeKalb Peachtree Airport (PDK), Georgia s second largest airport and Emory University. The Centers for Disease Control (CDC) and AT&T are also located here. DeKalb is the most ethnically diverse county in the Southeast with over 64 spoken languages representing Asian, Hispanic, European, and African cultures, to name a few. In 2009, DeKalb earned the Atlanta Regional Commission s Green Communities designation for its efforts in conserving energy, water and fuel; investing in renewable energy; reducing waste; and protecting and restoring natural resources.

ABOUT THE AREA LOCATION ATLANTA, GEORGIA Atlanta is an exciting destination with world-class restaurants, a festive nightlife, several major league sports teams and an abundance of cultural attractions. Atlanta s arts and culture scene is complemented by in-town neighborhoods that give the city even more depth. These locations are in the neighborhoods of Midtown, Virginia-Highland, Little Five Points and Inman Park - a short cab ride away. Home to the busiest and most efficient airport in the world, Hartsfield-Jackson Atlanta International Airport, and the Maynard H. Jackson International Terminal, getting to Atlanta is easy. With a variety of transportation options throughout the city, our guides, maps, shuttles, tours and Atlanta Ambassadors make getting around Atlanta easy too. Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest economy in the country and 17th-largest in the world. Corporate operations comprise a large portion of the Atlanta s economy, with the city serving as the regional, national, or global headquarters for many corporations. Atlanta contains the country s third largest concentration of Fortune 500 companies, and the city is the global headquarters of corporations such as The Coca-Cola Company, The Home Depot, Delta Air Lines, AT&T Mobility, UPS, and Newell-Rubbermaid. Over 75 percent of Fortune 1000 companies conduct business operations in the Atlanta metropolitan area, and the region hosts offices of about 1,250 multinational corporations. Many corporations are drawn to Atlanta on account of the city s educated workforce; as of 2010, nearly 43% of adults in the city of Atlanta have college degrees, compared to 27% in the nation as a whole and 41% in Boston. THE MARKET MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 23 OF 26

MICHAEL BULL President, National Office Group CEO, Bull Realty, Inc. Michael Bull, CCIM is a commercial real estate writer, nationally syndicated radio show host, real estate advisor and active commercial real estate broker. He has closed over 4 billion dollars of sale and lease transactions over his 30 year career. Mr. Bull s articles have been published nationwide including in the National Real Estate Investor, France Media Publications, Atlanta Journal Constitution, Atlanta Business Chronicle, Multi-Housing News, Shopping Center Business and Nation s Restaurant News. Michael is executive producer and host of the nationally syndicated Commercial Real Estate Show. The popular weekly one hour show began broadcasting in 2010 and today is heard by millions across the country on U.S. radio stations, itunes, the show website and YouTube. Mr. Bull founded Bull Realty in 1998 with two primary missions: grow a company of brokers known for integrity, and provide the best disposition marketing in the nation. The firm is licensed in nine southeast states and is one of the fastest growing commercial brokerage firms in the country. Michael and his brokers provide expert advice and capital markets expertise related to office, retail, industrial, land, apartments, single tenant net lease investment properties, healthcare real estate, senior housing, self-storage and hospitality properties. EXCLUSIVELY LISTED BY: PAGE 24 OF 26 Michael Bull, CCIM, CEO 404-876-1640 x 101 Michael@BullRealty.com

TEAM PROFILE MICHAEL BULL President, National Office Group CEO, Bull Realty, Inc. AUBRI LIENEMANN Marketing RICK LEWIS Marketing SCOTT JACKSON Analyst EXCLUSIVELY LISTED BY: Michael Bull, CCIM, CEO 404-876-1640 x 101 Michael@BullRealty.com PAGE 25 OF 26

CONFIDENTIALITY AGREEMENT MEMORIAL PLACE & MEMORIAL BEND OFFICE PARK Georgia PAGE 26 OF 26 This Confidentiality Agreement ( Agreement ) is made and agreed to for the benefit of the undersigned party ( Receiving Party ), the owner of the subject property (the Seller ) and undersigned broker Bull Realty Incorporated ( Broker ). Now therefore in consideration of the privileges granted to Receiving Party with respect to receiving certain confidential information, and other good and valuable consideration, the Receiving Party hereby agrees to the following: Accepted and agreed to this day of, 20. Receiving Party Signature Printed Name Title Company Name Address Email Phone Fax I. Confidential Information: Receiving Party will receive confidential information regarding property referred to as 5300 Memorial Drive & 778 Rays Road, Stone Mountain, GA 30083. Prospect agrees to not disclose to any person that the property may be available for sale or lease, or that discussions or negotiations are taking place concerning the property, nor any terms, conditions, or other facts with respect to the property, including but not limited to tenant information, lease rates, lease expirations, income and expenses, and any such possible purchase, including the status thereof. The term person used in this agreement shall be interpreted broadly and shall include, without limitation, any corporation, company, partnership or individual other than parties to which Broker approves in writing. Receiving Party may share information with directors, officers, employees, agents, affiliates, counsel, lending sources, accountants or representatives of Receiving Party that Receiving Party notifies of the requirements of this Agreement. Receiving Party agrees to not contact the property owner, the management, the tenants, the lender, the vendors, the insurers, the employees or the customers of any business at the site. II. Acting as a Principal: Receiving Party hereby warrants that it is acting as a principal only, and not as a broker, regarding this contemplated transaction. Receiving Party acknowledges that Broker is working an agency capacity as representing the Seller only in this transaction and is the only Broker involved in this potential transaction. Receiving Party agrees to not be involved in any arrangement to lease or purchase the property, in whole or in part, as a lender, partner, buyer of the note, buy in foreclosure, buy from bankruptcy court, or in any other manner acquire an investment in, joint venture or control of the property, unless Bull Realty, Incorporated is paid a commission at closing as per separate agreement with Seller. This agreement will expire two years from the date hereof. III. Governing Law This Agreement shall be governed and construed in accordance with the laws of the State of Georgia. Michael Bull, CCIM, CEO 404-876-1640 x 101 Michael@BullRealty.com Fax: 404-876-7073 50 Glenlake Parkway Suite 600 Atlanta, GA 30328