AT HOME COUNCIL BLUFFS, IA

REPRESENTATIVE SUBJECT PROPERTY PHOTO AT HOME COUNCIL BLUFFS, IA

Overview SUBJECT PROPERTY AT HOME 3271 MARKETPLACE DR, COUNCIL BLUFFS, IA 51501 $5,000,000 PRICE 8.00% CAP LEASABLE SF 80,000 SF LEASE EXPIRATION 2025 CO-TENANCIES None YEAR BUILT 2009 LEASE TYPE LL Responsible for Roof & Structure PARKING 5 per 1,000 7.5 year corporate lease with three 5-year options Very low rent of $5 per square foot annually ($0.42/ft monthly) - co-tenants paying over $9/ft $766M in 2017 revenues - a record year (see page 10 for link to annual report) Amazon resistant sales - 12 consecutive quarters of same store comp growth The Omaha-Council Bluffs MSA has over 1,000,000 residents Google has committed to spending $2.5 billion in Council Bluffs by 2019 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. (most already spent) 2

Investment Highlights THE OFFERING provides an opportunity to acquire a corporate At Home in the 1,000,000+ population Council Bluffs-Omaha MSA. It is located within the 380,000 square foot Marketplace Shopping Center, the premier power center in the trade area. The tenant pays only $5.00/ft in annual rent ($0.42/ft monthly) resulting in a purchase price metric of only $65/ft, well below the replacement cost and less than half that of similar inline net leased product. The property is an end cap with incredible visibility to the 95,000+ vehicles per day on Highway 29, which connects Omaha & Council Bluffs. At Home has taken the space as is and is investing over $2.5M to build out the store to their specifications. Contact the team JOHN ANDREINI jandreini@capitalpacific.com PH: 415.274.2715 CA BRE# 01440360 THE RETAIL MARKET - Additional Marketplace Shopping Center tenants include: Petco, JoAnn, Boot Barn, Party City, JC Penney, Texas Roadhouse and others. In the immediate area there is a major convention center, casino, and Google s multiple facilities which further demonstrate the extent of infrastructure and investment in the area. SUBJECT PROPERTY IN CONJUNCTION WITH IA LICENSED BROKER: Steve Moore Steve Moore Real Estate stevemoore180@yahoo.com PH: 319.530.2916 $766M IN 2017 REVENUES 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

25,400 S EXPRESSWAY STREET Aerial LONGFELLOW ELEMENTARY 95,500 29 29 OMAHA MARKETPLACE DRIVE 11,300 KREFT PRIMARY SCHOOL S 24TH STREET CITY OF COUNCIL BLUFFS 80 83,000 29 13,300 HEARTLAND CHRISTIAN SCHOOL 275 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. COUNCIL BLUFFS COUNTRY CLUB S EXPRESSWAY 275 8 MILES 275 4

Zoomed-Out Marketplace Shopping Aerial Center 5

Income & Expense MARKETPLACE SHOPPING CENTER PRICE $5,000,000 Price Per Square Foot: $62.50 Capitalization Rate: 8.00% Total Rentable Area (SF): 80,000 Lot Size (AC): 1.00 STABILIZED INCOME Scheduled Rent $400,000 Effective Gross Income $400,000 LESS Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses NNN $0.00 EQUALS NET OPERATING INCOME $400,000 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. 6

Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY TENANT NAME SQ. FT. CURRENT RENT MONTHLY RENT YEARLY RENT MONTHLY RENT/FT YEARLY RENT/FT At Home 80,000 6/8/2018 6/30/2025 $400,000 $33,333 $400,000 $0.42 $5.00 Option 1 7/1/2025 6/30/2030 $38,333 $460,000 $0.48 $5.75 Option 2 7/1/2030 6/30/2035 $41,667 $500,000 $0.52 $6.25 Option 3 7/1/2035 6/30/2040 $45,000 $540,000 $0.56 $6.75 TOTALS: 80,000 $400,000 $33,333 $400,000 $0.42 $5.00 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

Lease Abstract PREMISES & TERM TENANT At Home BUILDING SF 80,000 SF LEASE TYPE LL Responsible for Roof & Structure TERM 7.5 Years RENT COMMENCEMENT Estimated August 1, 2018 EXPIRATION 2025 OPTIONS Three 5-year options RENT BASE RENT DATE RANGE MONTHLY RENT ANNUAL RENT 1-7 $33,333 $400,000 EXPENSES TAXES Tenant shall reimburse Landlord. INSURANCE Tenant shall keep in full force and effect for the protection of the Landlord and Tenant a policy of commercial general liability insurance with respect to the Premises and business operated thereon with a limit of $2,000,000 per occurrence during the term naming Tenant as insured and Landlord as additional insured. UTILITIES Tenant is agrees to pay all charges for utilities consumed at the Premises. TENANT S OBLIGATIONS Tenant is responsible for all maintenance and repair of the nonstructural portions of the premises and HVAC. OPTION RENTS DATE RANGE MONTHLY RENT ANNUAL RENT #1. 8-12 $38,333 $460,000 #2. 13-17 $41,667 $500,000 #3. 18-22 $45,000 $540,000 LANDLORD S OBLIGATIONS Landlord is responsible for roof & structure. CO-TENANCIES None. 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

Shopping Center Site Plan NOT A PART 29 ON RAMP 95,500 MARKETPLACE DRIVE 15,500 3,900 34TH AVENUE S 24TH STREET 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. 9

Tenant Overview ABOUT AT HOME IN THE NEWS At Home is a home decor superstore with a 40 year operating history and over 150 stores in 30 states, demonstrating a very selective growth strategy focused on major MSA s. The specialty retailer s stores each carry over 50,000 unique items across broad product categories including furniture, garden, home textiles, housewares, patio, rugs, seasonal decor, tabletop decor, and wall decor. 2017 revenues were a record $766M and same store sales have increased for 12 consecutive quarters, contrary to retail industry trends. Store sales have increased 20% for 11 consecutive quarters and the company has had continued growth as well. $766M 2017 ANNUAL SALES FOR ACCESS TO COMPANY FINANCIALS, CLICK HERE. HOME DÉCOR SUPERSTORE ON A ROLL; RAMPS UP EXPANSION March 23, 2018 (Chain Store Age) At Home Group Inc. delivered a strong fourth quarter and full-year performance as it continues to build out its store portfolio. The value home furnishings chain opened 26 stores last year, for a total of 149 locations in 34 states. It will open 31 stores in 2018. The company said it has the potential to grow to four times its current footprint. At Home s net income dropped to $9.9 million in the quarter ended January 27, compared to the $15.3 million in the year-ago period. The company cited non-cash charges of $16.7 million in tax expense triggered by the new tax act and a $2.4 million pre-tax impairment. Net sales rose 25.2% to $293.7 million. The increase was driven by the net addition of 26 stores and a same-store sales increase of 5.7%. It was the chain s 16th consecutive quarter of positive comp increases. FOR THE FULL ARTICLE, CLICK HERE. REPRESENTATIVE PHOTO 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

Demographics POPULATION 1-MILE 3-MILES 5-MILES 2010 3,150 45,146 143,761 2017 3,351 45,849 151,524 2022 3,474 46,472 156,726 2017 HH INCOME OMAHA (14 MINS 9 MILES) COUNCIL BLUFFS 1-MILE 3-MILES 5-MILES Average $56,315 $53,830 $56,190 Median $49,172 $43,639 $42,018 OMAHA-COUNCIL BLUFFS TOP EMPLOYERS EMPLOYER Offutt Air Force Base CHI Health Omaha Public Schools Methodist Health System Nebraska Medicine CONTINUED POPULATION GROWTH IN 1-5 MILE RADII 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.

Location Overview COUNCIL BLUFFS, IOWA OMAHA, NE COUNCIL BLUFFS is the most populous city in Southwest Iowa, and a principal city in the Omaha Council Bluffs MSA. The MSA has experienced steady growth in recent years, with the population expandng by 7% between 2010 and 2016, growing 2% percent more than the nation. Located minutes outside of downtown Omaha at the crossroads of Interstates 80 and 29, the region offers global access from the heartland of America. Interstate 80 serves both coasts while Interstate 29 connects Canada and Mexico. Eppley Airport offers daily non-stop service to 17 cities. The MSA is home to some of the nation s leading colleges and universities including two internationally recognized medical schools - the University of Nebraska Medical Center and CHI Health Creighton University Medical Center. OMAHA-COUNCIL BLUFFS WORKFORCE FORBES ranked Omaha-Council Bluffs #37 on its 2017 Best Places for Business and Careers. Over the past 10 years, the region has added 31,000 jobs. Top employers include Fortune 500 s such as Berkshire Hathway, Union Pacific Railroad, Mutual of Omaha, and Kiewit Corporation. With a labor force of over 465,000 and a growing metro population, Greater Omaha produces more than $47 billion in goods and services each year. 960,000+ OMAHA COUNCIL BLUFFS 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. 12

We d love to hear from you. JOHN ANDREINI jandreini@capitalpacific.com PH: 415.274.2715 CA BRE# 01440360 IN CONJUNCTION WITH IA LICENSED BROKER: Steve Moore Steve Moore Real Estate stevemoore180@yahoo.com PH: 319.530.2916 CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM: ZEB RIPPLE CHRIS KOSTANECKI CHRIS PETERS JOHN ANDREINI JOE CACCAMO DAVE LUCAS Copyright 2018 Capital Pacific Partners ZANDY SMITH RICK SANNER JACK NAVARRA 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. CAPITALPACIFIC.COM