TAMARAC SHOPPING CENTER DENVER, CO A RETAIL OPPORTUNITY IN THE HEART OF DENVER S CENTRAL SUBMARKET

TAMARAC SHOPPING CENTER DENVER, CO A RETAIL OPPORTUNITY IN THE HEART OF DENVER S CENTRAL SUBMARKET

E. HAMPDEN AVE (47,400 VPD) E X E C U T I V E S U M M A R Y S. TAMARAC DRIVE (14,300 VPD) Holliday, Fenoglio, Fowler ( HFF ), acting as exclusive representative for the seller, is pleased to present the opportunity to acquire Tamarac Shopping Center ( The Property ), a Target shadow-anchored, 100% leased, 68,534 square foot shopping center consisting of three single-tenant net lease assets and a 33,099 square foot, Ace Hardware anchored strip center. Leased to a variety of national tenants including Chick-fil-A, Bank of the West, and Benihana, the portfolio presents an investor attractive in-place cash flow with near-term upside potential. Investors have the opportunity to acquire the four separately parceled assets as a whole, or individually. Situated at a heavily trafficked intersection experiencing over 61,700 vehicles per day, Tamarac Shopping Center benefits from consumer traffic driven to a newly built Target, which in 2013 replaced an existing shopping center, reactivating the center s draw as a retail destination. ADDRESS PROPERTY OVERVIEW TAMARAC SHOPPING CENTER OCCUPANCY 100% TOTAL GLA 68,534 SITE AREA +/- 7.21 acres YEAR BUILT / RENOVATED Various PARKING RATIO 4.45 : 1,000 SF TAX PARCEL ID Multiple S Tamarac Dr & E Hampden Ave Denver, CO 80231 STRIP CENTER BENIHANA CHICK-FIL-A BANK OF THE WEST 3333 S Tamarac Dr Denver, CO 80231 INDIVIDUAL OPPORTUNITIES 3295 S Tamarac Dr Denver, CO 80231 7785 E Hampden Ave Denver, CO 80231 7995 E Hampden Ave Denver, CO 80231 100% 100% 100% 100% 33,099 8,000 4,396 23,039 +/- 2.56 acres +/- 1.93 acres +/- 1.06 acres +/- 1.66 acres 1976 /2013 1976 2013 1975 4.53 : 1,000 SF 5.62 : 1,000 SF 9.10 : 1,000 SF 3.07 : 1,000 SF 06333-00-071-000 06333-00-107-000 06333-00-104-000 06333-00-105-000 EXECUTIVE SUMMARY 2

I N V E S T M E N T H I G H L I G H T S TARGET SHADOW ANCHORED CENTER IN A+ LOCATION Tamarac Shopping Center offers investors a Target (with grocery) shadow anchored shopping center in a densely populated, high growth submarket in the heart of Denver. Consisting of national tenants such as Chick-fil-A, Benihana, Ace Hardware, and shared access with a recently built Target, the future owner will enjoy stable cash flow and increasing retail demand in the area. ATTRACTIVE IN-PLACE CASH FLOW Tamarac Shopping Center is 100% leased with a strong occupancy history, offering potential investors income security to complement the potential upside available due to below market rents, strong tenant sales volumes, and a 2.4% vacancy rate in the immediate trade area. National retailers account for 82% of GLA and more than 75% of the gross rental revenue. 3 EXECUTIVE SUMMARY

S I T E P L A N TENANT ROSTER SUITE TENANT SF C Chick-fil-A (Ground Lease) 4,396 D Bank of the West (Ground Lease) 23,039 3295 Benihana (Ground Lease) 8,000 A Phenix Salon Suites 5,899 E Hand & Stone 2,975 G China Beijing 1,820 K Ace Hardware 10,505 O Tamarac Liquors 1,925 P Murdock's Dog Grooming 1,155 Q The Tailor's Studio 1,120 R Extra Innings 1,470 S Giorgio's NY Pizza 1,680 T Las Caras Mexican Grill 1,400 V Fantastic Sams 1,649 W Trendy Nail & Spa 1,501 TOTAL SF 68,534 PARKING GARAGE NAP U-PARKING GARAGE OFFICE 94,455 SF NAP W T S R Q P O G S:\ACADFILS\CadapultFM\Logo\Target.jpg E HAMPDEN AVE S:\ACADFILS\CadapultFM\Logo\Chick-Fil-A.jpg CHICK-FIL-A 4,396 SF NAP OFFICE 25,337 SF NAP S TAMARAC DRIVE EXECUTIVE SUMMARY 4

I N V E S T M E N T H I G H L I G H T S TAMARAC SHOPPING CENTER RECENTLY RENOVATED STRIP CENTER WITH TENURED TENANTS Anchored by Ace Hardware, the strip center is leased to 12 tenants with a weighted average tenure of more than eight years, demonstrating the tenants commitment and success at the center. The Target anchor expands the customer draw to the overall shopping center, complementing the daily needs and restaurant users. The strip center received a brand new façade in 2013 with the arrival of Target, minimizing capital needs to a new owner. 5 EXECUTIVE SUMMARY

I N V E S T M E N T H I G H L I G H T S NNN GROUND LEASE OPPORTUNITIES Tamarac Shopping Center offers investors the opportunity to acquire single tenant net leased opportunities including: Chick-fil-A corporate ground lease, with 10-years of primary term remaining. Bank of the West, who has been a tenant since 1975, is on a significantly below-market ground lease with $75+ million in deposits. Benihana, who has been a tenant for over 40 years, has term through 2021 and no options remaining. INDIVIDUALLY PARCELED PADS Well-located fast food and bank pads are highly sought after in the Net Lease Investment market. All four buildings at Tamarac Shopping Center are situated on separate tax parcels providing investors with the flexibility to sell off the Chick-fil-A, Bank of the West and Benihana pads separately at accretive cap rates in order to lower their overall basis. NEAR-TERM VALUE ADD THROUGH NEW LEASE NEGOTIATION High-performing Benihana has been a tenant at the center since 1976 and has a lease expiration of 2021 with no remaining options. Strong sales volume, coupled with limited availability to relocate and a motivated operator allows a new investor the opportunity to negotiate a brand new, long term lease with an increased contractual rent structure while maintaining a healthy occupancy cost ratio. EXECUTIVE SUMMARY 6

DOWNTOWN DENVER - 8 Miles UNIVERSITY HILLS Avg Home Price +/- $700,000 Avg Income $87,000 SOUTHEAST BUSINESS CORRIDOR - 2 Miles 34 Million SF of Office 25 ) PD V,000 0 (25 CHERRY CREEK Avg Home Price +/- $1,200,000 Avg Income $156,000 STARBUCKS TRUE LOGOS. GENERATED BY CHI NGUYEN (CHISAGITTA) Found from website Recreate PMS E. HA MP DE NA VE (4 7,4 00 VP D) E RIV HAMPDEN SOUTH Avg Home Price +/- $525,000 Avg Income $82,000 AM S.T D AC R A 0 4,3 (1 D) P 0V 1,060+ APARTMENT UNITS

I N V E S T M E N T H I G H L I G H T S HIGHLY VISIBLE LOCATION Tamarac Shopping Center is strategically located on the northwest corner of South Tamarac Road and East Hampden Avenue, an established intersection with traffic counts exceeding 61,700 vehicles per day. This location in the prominent East Hampden Ave corridor offers unparalleled regional connectivity with convenient access to Interstate 25 (<1.0 mi) and Interstate 225 (<1.5 mi). PREMIER ACCESSIBILITY Immediate access to major highways, positioning on a main eastwest arterial, and a center-of-the-market location offers easy commutes to surrounding executive communities such as Cherry Hills Village, Cherry Hills Country Club, and Cherry Creek Country Club. Additionally, the property is easily accessible to the more than 26,700 market rate apartment units within a 3-mile radius, representing an impressive 13.5% of the metro s market rate apartment unit inventory. PROXIMATE TO EMPLOYMENT The Property is within two miles of the Southeast Business Corridor, boasting more than 34 million SF of office and a third of Denver s employment base. Additionally, Tamarac Shopping Center is only eight miles from Downtown Denver s 32 million SF of office and more than 133,000 daytime employees. EXECUTIVE SUMMARY 8

I N V E S T M E N T H I G H L I G H T S AFFLUENT TRADE AREA Tamarac Shopping Center benefits from exceptional demographics with average incomes in excess of $93,300 and a population of more than 378,200 within a five mile radius. The surrounding trade area boasts robust demographics due to the area s exceptional employment base, attractive amenities, and a highly educated workforce. FREE AND CLEAR INVESTMENT OFFERING Tamarac Shopping Center is being delivered free and clear of existing financing, presenting an investor with the opportunity to capitalize on historically low interest rates, favorable market financing terms, and enhanced leveraged returns. DEMOGRAPHICS 1 MILE 3 MILE 5 MILE 2017 Population Estimate: 18,814 131,388 378,207 Population Growth (2010-2017) 12.8% 16.0% 13.5% Number of Households (2017 Est.) 9,643 63,840 177,101 Household Growth 13.9% 17.0% 15.1% Average Household Income: $92,662 $90,051 $93,308 9 EXECUTIVE SUMMARY

1125 17TH STREET, SUITE 2540 DENVER, CO 80202 HFFLP.COM INVESTMENT SALES ADVISORS REAL ESTATE ANALYST DEBT ADVISOR CHAD MURRAY Director cmurray@hfflp.com 303.515.8025 MARK WILLIFORD Director mwilliford@hfflp.com 303.515.8032 BRYAN LEY Managing Director bley@hfflp.com 310.407.2120 ANDREW YAROMA Analyst ayaroma@hfflp.com 303.515.8013 LEON MCBROOM Director lmcbroom@hfflp.com 303.515.8008 ATLANTA AUSTIN BOSTON CAROLINAS CHICAGO DALLAS DENVER HOUSTON INDIANAPOLIS LOS ANGELES NEW JERSEY NEW YORK CITY ORANGE COUNTY ORLANDO PHILADELPHIA PHOENIX PITTSBURGH PORTLAND SAN DIEGO SAN FRANCISCO TAMPA WASHINGTON D.C. LONDON