EXCLUSIVE OFFERING MEMORANDUM

EXCLUSIVE OFFERING MEMORANDUM

TABLE OF CONTENTS I. Executive Summary Investment Overview 1 TABLE OF CONTENTS II. Property Description Site Information 2 Area Overview 3 Site Aerials and Map 5 III. Photos 8

Disclaimer Lincoln Harris ( the Agent ) has been engaged as the exclusive agent for the sale of, Mecklenburg County, Charlotte North Carolina (the Property ) by Bank of America, National Association (the Seller ). The information contained in this Offering Memorandum was prepared by Agent and is based in part upon information supplied by Seller, and in part upon information obtained by Agent from sources it deems reasonably reliable. The material summaries of any documents are not intended to be comprehensive or all inclusive, but rather only an outline of some of the provisions contained therein. No warranty of representation, expressed or implied, is made by Seller, Agent or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters. Prospective purchasers should make their own projections and conclusions without reliance upon materials contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at this site. The Property is being offered for sale in an as is, where is condition and the Seller and the Agent make no representations or warranties as to the accuracy of the information contained in this Offering Memorandum. Graphics are only a representation of property features, are not to scale and subject to change. An opportunity to inspect the Property will be made available to qualified prospective purchasers. This Offering 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 Agent or the Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein. Seller and Agent expressly reserve the right, at their sole discretion, to reject any or all expressions of interest of offers to purchase the Property and/or to terminate discussions with any party at any time with or without notice. Seller shall have no legal commitment or obligation to any purchaser reviewing this Offering 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 Seller and any conditions to Seller s obligations thereunder have been satisfied or waived. Agent is not authorized to make any representations or agreements on behalf of Seller. The Seller will be responsible for any commission due the Agent in connection with a sale of the Property. Each prospective purchaser will be responsible for any claims for commissions by any other broker or agent in connection with a sale of the Property if such claims arise from acts of such prospective purchaser or its broker/agent. Any buyer s agent must provide a registration signed by the prospective investor acknowledging said agent s authority to act on its behalf. The terms and conditions set forth above apply to this Offering Memorandum in its entirety.

Investment Overview On behalf of Bank of America, National Association ( Seller ), Lincoln Harris is pleased to present the opportunity to acquire 239 West Mallard Creek Church Road, ±24.033 Acres of vacant land located in Mecklenburg County, Charlotte, NC ( Property ). The Property is situated on the southwesterly corner of the intersection formed by West Mallard Creek Church Road and North Tryon Street (Hwy. 29) offering favorable access and frontage within what is called the University area of Charlotte. PrimaryaccesstothesiteisprovidedbyInterstate85,viaWest Mallard Creek Church Road, and travel time from I 85 is about one minute. Access to the site is also provided I 485, which has an exit to North Tryon Street about a mile north of the property. Pricing: Property Address: Site Area: Accepting offers 239 W Mallard Creek Church Road Charlotte, NC 28262 ±24.033 Acres Tax Parcel ID #: 04744102 County: Zoning: Mecklenburg MUDD O Mixed Use Development District Optional EXECUTIVE SUMMARY The Charlotte Douglas International Airport is located about 14 miles from the Property, and 7 miles from the Concord Regional Airport. The Property is approximately 7 miles from Uptown Charlotte, which will be connected by LYNX Light Rail (proposed stop approx. 1 mile from site) around 2017. Please submit offers or questions to: Ann Fleming Powell 704.714.7671 AnnFleming.Powell@lincolnharris.com Restrictions: Location: Road Frontage: Traffic Counts: Supermarket and Convenience Store Restrictive Covenant. The site is located at the southwestern corner of North Tryon Street (HWY 29) and West Mallard Creek Church Road. North Tryon Street 1,110 SF Mallard Creek Church Road 976 SF 27,500 Avg. Daily Volume 2011, N. Tryon St. and W. Mallard Creek Church Rd. 29,500 Avg. Daily Volume 2011, W. Mallard Creek Church Rd. and Alexander Glen Dr. Source: CoStar 1

Site Information Zoning: Restrictions: Mixed Use Development District Optional The adopted Center City Charlotte Urban Design Plan calls for a development district outside the central employment core in which coordinated mixed use development will be permitted in order to encourage alternative development possibilities. The Mixed Use Development District (MUDD) encourages mixed use development and its accompanying support commercial and office uses while maintaining a strong emphasis on pedestrian scale, urban development, and amenities. Supermarket and Convenience Store Restrictive Covenant. PROPERTY DESCRIPTION Utilities: Taxes: Location: Water adjacent to site by City of Charlotte Sewer adjacent to site by City of Charlotte Electricity adjacent to site by Duke Energy Natural Gas adjacent to site by Piedmont Natural Gas Local Phone service by Various providers The Property is located within the city limits of Charlotte and is subject to both city and county taxes. The composite tax rate for the subject for the 2012 tax year is $1.2292 per $100 of assessed value. Based on the total assessed value of $6,845,200, the 2012 real estate tax liability is $84,141. The site is located in the northern area of Charlotte, at the southwestern corner of North Tryon Street and West Mallard Creek Church Road. Primary access to the site is provided by Interstate 85, via West Mallard Creek Church Road, and travel time from I 85 is about one minute. Access to the site is also provided by Highway 29/North Tryon Street, and additionally I 485, which hasan exit to North Tryon Street about a mile north of the Property. Public transportation is provided by Charlotte Area Transit System (CATS) and provides access all over the Charlotte metro area. Existing bus stop is within walking distance of the site. Expected to be completed in 2017, the LYNX Light Rail Blue Line will service this area with two proposed stops within 1 mile of the site. The Charlotte Douglas International Airport is located about 14 miles from the Property; travel time is approximately 25 minutes, depending on traffic conditions. The Concord Regional Airport is about 7 miles north of the Property; travel time is approximately 15 minutes. The Charlotte CBD, the economic and cultural center of the region, isapproximately 7 miles from the Property. 2

Area Overview PROPERTY DESCRIPTION Halfway between New York and Miami, Charlotte is the largest city in North Carolina, the second largest banking center in the United States and home to six Fortune 500 companies, two professional sports teams and numerous educational institutions. Here is a list of just some of the local amenities within close proximity to the site: Verizon Wireless Amphitheatre Concord Motor Speedway Concord Mills Outlet Mall less than 5 miles Charlotte City Center 7 miles Concord Regional Airport 7 miles Charlotte Douglass Airport 14 miles Northlake Mall IKEA Great Wolf Lodge Carolinas Medical Center University Hilton Hotel and Conference Center University City Regional Library Fine and Casual Dining Schools: UNC Charlotte ECPI University of Phoenix ITT Technical Institute Brookstone College of Business Within 1 mile of the site: Mallard and Clark s Creek Greenway UNCC Green Line Campus Transportation Paradise Valley Par 3 Pinnacle Point Plaza The Terraces at University Place Shopping Center 3

Area Overview (continued) Located in Northeast Mecklenburg County, the University area is home to over 155,000 residents and 74,000 jobs; making it Charlotte s second largest and most diverse neighborhood and what is often called the largest Non City in the Carolinas. Also known as University City, the area overlaps Mecklenburg and Cabarrus county lines with the Charlotte Motor Speedway, Concord Mills Mall and Verizon Wireless Amphitheatre located along its borders. Just on the other side of I 85, University Research Park, a 2,200 acre office and industrial park with over 20,000 employees in 80 buildings is home to employers such as IBM, Wells Fargo, TIAA CREF and Electrolux. University of North Carolina at Charlotte, now a major research university with more than 25,000 students with future enrollment projections of 35,000 40,000, has its own public private Charlotte Research Institute along North Tryon Street near University Place. A 15,000 seat football stadium will open beside the research institute in 2013 with expansion capabilities up to 60,000 seats. Carolinas Medical Center University currently has 130 beds, performs 8,700 surgical procedures annually for both adult and pediatric patients and over 2,000 families choose to deliver their babies at this area hospital each year. The area also has 2,100 hotel rooms, over 200 restaurants and 230 retail stores. PROPERTY DESCRIPTION The area has its own Charlotte Chamber Chapter and University City Partners, an economic development organization linking businesses to the community for optimum growth and expansion to the area. University City is trending to become a bustling, walkable, urban, connected and, most importantly, sustainable Charlotte submarket. With the recently approved federal funding, the Charlotte Area Transit System is moving forward with the extension of the LYNX light rail Blue Line that will connect this area to Uptown Charlotte as far south as I 485 in Pineville. Ridership is expected to be 18,000 passengers per day and will likely exceed this number as the first section of the light rail did from Pineville to 7 th Street Station. This exciting news will have a huge impact on this area. Area Employers: Allstate Insurance Company; Areva NC, Inc,; AT&T; Carolinas Medical Center; Convergys; Duke Energy; Electrolux; IBM; General Motors; Nationwide Insurance; Ortho Carolina; Rack Room Shoes; SPEED; TIAA CREF; University of North Carolina at Charlotte and Verizon Wireless. Sources: University City Partners www.universitycityclt.org; University Research Park www.urpcharlotte.com; The Charlotte Business Journal 4

Site Aerials and Maps PROPERTY DESCRIPTION 5

Vertical aerial here PROPERTY DESCRIPTION 6

PROPERTY DESCRIPTION 7

Photos PHOTOS Southwest view on North Tryon Street Northeast view on North Tryon Street Northwest view on West Mallard Creek Church Road Southeast view on West Mallard Creek Church Road 8

About Lincoln Harris Corporate Services Group Lincoln Harris Corporate Services Group (CSG) is a collective product of Dallas based Lincoln Property Company (LPC), and Charlotte based The Harris Group. We are part of the vast resources of LPC a full service real estate company with over 5,000 employees in 27 states and 8 countries; and a portfolio in excess of 150 million square feet. LPC was founded in 1965 and has developed assets in excess of $12 billion. We believe true competency in service occurs when two very important elements are incorporated into the delivery model: strategic application and fully understanding client needs. This is why strategy first, client first has been our philosophyforthe16+ yearswehavebeenprovidingfull scope corporate real estate services. Contact Information: Ann Fleming Powell 704.714.7671 AnnFleming.Powell@lincolnharris.com Lincoln Harris CSG 100 N. Tryon Street, Suite 3120 Charlotte, NC 28202 www.lincolnharris.com