WOODSTOCK SQUARE10010 GA-92

WOODSTOCK, GA 30188

O F F E R I N G M E M O R A N D U M

i . I n v e s t m e n t O v e r v i e w

i i . F i n a n c i a l S u m m a r y

i i i . Te n a n t O v e r v i e w

i v. M a r k e t S u m m a r y

TABLE of

CONTENTSBROKER:

RYAN GOMEZ Senior Director Capital Markets | Net Lease Group Direct: 760-431-3824Mobile: 858-822-9811ryan.gomez@cushwake.comLicense: CA 01753933

Listed in conjunction with Georgia Broker of Record: Andrew GhertnerLicense: GA 21855

CONTACT:This Confidential Offering Memorandum (“Memorandum”) is being delivered subject to the terms of the Confidentiality Agreement (the “Confidentiality Agreement”) signed by you and constitutes part of the Confidential Information (as defined in the Confidentiality Agreement). It is being given to you for the sole purpose of evaluating the possible investment in 10010 GA-92, Woodstock, GA 30188 (the “Project”), and is not to be used for any other purpose or made available to any other party without the prior written consent of its exclusive broker, Cushman & Wakefield. This Memorandum was prepared by Cushman & Wakefield based primarily on information supplied by Managing Member. It contains select information about the Project and the real estate market but does not contain all the information necessary to evaluate the Project. The financial projections contained herein (or in any other Confidential Information) are for general reference only. They are based on assumptions relating to the overall economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or a legal analysis of such documents. While the information contained in this Memorandum and any other Confidential Information is believed to be reliable, neither Cushman & Wakefield nor Managing Member guarantees its accuracy or completeness. Because of the foregoing and since the investment in the Project is being offered on an “As Is, Where Is” basis, a prospective investor or other party authorized by the prospective investor to use such material solely to facilitate the prospective purchaser’s investigation, must make its independent investigations, projections and conclusions regarding the investment in the Project without reliance on this Memorandum or any other Confidential Information. Although additional Confidential Information, which may include engineering, environmental or other reports, may be provided to qualified parties as the marketing period proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engineers and environmental experts. Neither Cushman & Wakefield nor Managing Member guarantees the accuracy or completeness of the information contained in this Memorandum or any other Confidential Information provided by Cushman & Wakefield and Managing Member. Managing Member expressly reserves the right, at its sole discretion, to reject any offer to invest in the Project or to terminate any negotiations with any party at any time with or without written notice. Managing Member shall have no legal commitment or obligations to any prospective investor unless and until a written sale agreement has been fully executed, delivered and approved by Managing Member and any conditions to Managing Member’s obligations thereunder have been satisfied or waived. Managing Member has retained Cushman & Wakefield as its exclusive broker and will be responsible for any commission due to Cushman & Wakefield in connection with a transaction relating to the Project pursuant to a separate agreement. Cushman & Wakefield is not authorized to make any representation or agreement on behalf of Managing Member. Each prospective investor will be responsible for any claims for commissions by any other broker in connection with an investment in the Project if such claims arise from acts of such prospective investor or its broker. This Memorandum is the property of Managing Member and all parties approved by Managing Member and may be used only by parties approved by Managing Member. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone except as permitted under the Confidentiality Agreement.

WOODSTOCK SQUARE

» EXTREMELY STRONG ANCHOR TENANT 6.85% RENT TO SALES RATIO

» AMAZON PROOF DESTINATION ENTERTAINMENT RETAIL

» LOW PRICE PER SQUARE FOOT OF $95.36

» 100% STABILIZED CLASS A RETAIL CENTER

» EXTREMELY STRONG CONSUMER TRAFFIC WITH APPROXIMATELY 2.8 MILLION VISITS IN THE PAST 12 MONTHS

PROPERTY ADDRESS10010 GA-92

Woodstock, GA 30188

SIZELand: 7.52 Acres (327,571 sqft)

Bldg: 63,483 sqft

YEAR BUILT1988

FRONTAGE & PARKING SPACESRatio of 5.0/1,000 sqft

INVESTMENT HIGHLIGHTS

i . Investment Overview

WOODSTOCK SQUARE

i . Investment Overview

PROPERTY OVERVIEW

OVER 174,000 RESIDENTS WITHIN A 5-MILE RADIUS

LOCATED STRATEGICALLY ALONG THE GA HIGHWAY 92 RETAIL CORRIDOR

MA

IN S

THWY 92

GRACE

CLEANERS

WOODSTOCKSQUARE

92

WOODSTOCK SQUARE IS LOCATED IN THE HEART OF THE TRADE AREA WITH APPROXIMATELY 2.8 MILLION VISITS IN THE PAST 12 MONTHS

AREA RETAILERS INCLUDE:

10100

10110

10120

10130

10140

10150

10160

92

i . Investment Overview

GRACE

CLEANERS

HAIRSALON

NAILSALON

RETROVIDJOS

PROFESSIO

NAL PA

RKWAY

SITE PLAN VIEW PROPERTY VIDEO

i i . Financial Summary

R E N T R O L LTENANT SQUARE

FEET% OF

PROJECTRECOVERY

TYPEANNUAL

RENTANNUAL

RENT PSFLEASE FROM

RENT CHANGE

RENT INCREASE

LEASE END

OPTION PERIODS OPTION DETAILS

GRACE CLEANERS 1,543 2.4% NNN $25,460.00 $16.50 11/1/2017 11/1/2019 $16.50 10/31/2022 N/A11/1/2021 $17.00

RETRO VIDJOS 1,050 1.7% NNN $16,537.50 $15.30 6/1/2016 8/1/2020 $15.75 7/31/2021 N/AHAIR SALON 1,190 1.9% NNN $19,611.20 $16.00 7/1/2019 7/1/2020 $16.48 9/30/2024 One 5-Year Option 1 - $19.11 (3% esc. annually)

7/1/2021 $16.977/1/2022 $17.487/1/2023 $18.017/1/2024 $18.55

REPUBLIC FINANCE 1,389 2.2% NNN $20,835.00 $15.00 7/1/2013 12/31/2020 N/ANAIL SALON 1,645 2.6% NNN $25,415.25 $15.00 3/1/2019 4/1/2020 $15.45 8/31/2029 One 10-Year Option 1 - $20.16 (3% esc. annually)

4/1/2021 $15.914/1/2022 $16.394/1/2023 $16.884/1/2024 $17.394/1/2025 $17.914/1/2026 $18.454/1/2027 $19.004/1/2028 $19.57

ATLANTA HOLLYWOOD ACTING

1,867 2.9% NNN $31,066.88 $16.00 2/1/2019 4/1/2020 $16.64 3/31/2024 Two 5-Year Option 1 - $19.47 (4% esc. annually), 4/1/2021 $17.31 Option 2 - $23.68 (4% esc. annually)4/1/2022 $18.004/1/2023 $18.72

BSN SPORTS 3,099 4.9% NNN $38,706.51 $12.13 6/1/2016 6/1/2020 $12.49 5/31/2021 N/ASTARS & STRIKES 51,700 81.4% NNN $271,425.00 $5.25 1/1/2015 8/1/2020 $5.25 10/31/2030 Four 5-Year Option 1 - $6.75,

Option 2 - $7.25, Option 3 - $7.75, Option 4 - $8.25

8/1/2022 $5.508/1/2024 $5.758/1/2026 $6.008/1/2028 $6.25

WELLS FARGO ATM 64 $14,099.84 $215.63 10/1/1997 10/1/2020 $220.31 9/30/2022 One 5-Year Option 1 - $27010/1/2021 $225.00

DONATION BIN 0 $1,600.00 $0.00 N/A

TOTAL SQUARE FEETOCCUPIED SQUARE FEETAVAILABLE SQUARE FEET

100.0%100.0%

0.0%

63,483 63,483

0

IN-PLACEBASE RENT $464,757.18

C A P R AT E

7.57%

P R I C E

$6,053,531

i i . Financial Summary

Base Rent $464,757.18

Reserves -$6,348.30

Taxes -$49,516.74

Insurance -$15,870.75

CAM -$92,050.35

Mgmt Fee 3% -$13,942.72

Effective Gross Reimbursements $171,380.56

Effective Gross Income $636,137.74

OPEX -$177,728.86

NOI $458,408.88PRICE/FT BLDG: $95.36

NOI $458,408.88

i i i . Tenant Overview

S TA R S & S T R I K E SStars and Strikes Family Entertainment Center was named best

Birthday Party Venue by Atlanta Parent in 2016. The franchise’s

two founders developed an entertainment venue that creates a

place for all ages to have fun. Guests are greeted at Stars and Strikes

with upgraded bowling, a super-sized arcade, a two-story laser tag

experience, state of the art bumper cars, a full-service restaurant and

bar. First established in Cumming, Georgia in June 2005, the owners have

expanded to 11 locations (including several in Metro Atlanta) and are scouting

new locations throughout the Southeast.

Founded in 1952, Republic Finance specializes in providing a variety of consumer loans,

flexible lending options and has assisted its customers in meeting their personal finance

goals for more than 60 years. With branch offices located within Alabama, Georgia, Kentucky,

Louisiana, Mississippi, South Carolina, Tennessee, and Texas, Republic Finance serves nearly

300,000 customers in almost 200 communities throughout the United States.

R E P U B L I C F I N A N C E

i i i . Tenant Overview

AT L A N TA H O L LY WO O D AC T I N G S T U D I O SHeadquartered in Woodstock, Georgia, Atlanta Hollywood Acting

Studio’s vision is to train and help produce Georgia’s most professional

Film & TV Actors. Atlanta Hollywood Acting Studio fosters an atmosphere

of positive growth and encourages authenticity. Classes, workshops, private

coaching, showcases and audition taping services makes Atlanta Hollywood

Acting Studios the place to be for Film & TV acting & collaboration.

B S N S P O R T SFounded in 1972 as a factory-directed equipment company, BSN SPORTS is the largest

distributor of team sports apparel and equipment in the United States. The retailer is a

team-wear outfitter of Nike, Under Armour and other national brands. BSN has an inventory

of more than 25,000 items and its central warehouse locations and FedEx partnership ensure

quick delivery.

POPULATION 1 MILE 3 MILE 5 MILE

2019 Total Population: 10,271 65,539 174,924

2024 Population: 11,806 71,017 188,195

Pop Growth 2019-2024: 14.94% 8.36% 7.59%

Average Age: 37.40 37.40 37.50

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2019 Total Households: 4,155 23,979 62,764

HH Growth 2019-2024: 15.48% 8.40% 7.61%

Median Household Inc: $57,520 $74,192 $81,771

Avg Household Size: 2.40 2.70 2.70

2019 Avg HH Vehicles: 2.00 2.00 2.00

HOUSING 1 MILE 3 MILE 5 MILE

Median Home Value: $174,431 $198,033 $226,253

Median Year Built: 2006 1991 1992

DEMOGRAPHICS

iv. Market Summary

TRAFFIC COUNTS (2018)

COLLECTION ST. CROSS ST. CROSS ST. DIST./DIR.

TRAFFIC VOLUME

DIST. FROM

SUBJECT

Main St Alabama Rd 0.05 N 31,989 0.18

Main St Burch Rd 0.12 S 23,335 0.43

Alabama Rd Indian Valley Dr 0.05 W 54,567 0.43

Main St Ingram St 0.03 S 14,692 0.66

Canton Rd Farm Ridge Dr NE 0.02 S 21,711 0.67

I- 575 Dupree Rd 0.35 N 94,215 0.81

Alabama Rd Village Trl 0.01 N 45,731 0.83

TRADE AREA CONSUMER TRAFFIC

iv. Market Summary

TRADE AREA CONSUMER TRAFFIC HEAT MAP OF VISITORS IN THE TRADE AREA

HOURLY VISITS (TRAILING 12 MONTHS)

DAILY VISITS BY CUSTOMERS THROUGHOUT THE WEEK

LENGTH OF STAY BY CUSTOMERS (TRAILING 12 MONTHS)

This data was provided by Placer.ai, a company that tracks

consumer data via smartphone apps. Currently there are over

20+ million active devices and various platforms and metrics to

compare industry trends and analyze trade areas. Woodstock

Square is located in the heart of the trade area with approximately

2.8 million visits in the past 12 months. With strategic positioning

along the Georgia Highway 92 retail corridor, Woodstock Square

benefits from the drawing power of nearby national tenants

including Target, Home Depot, Kohl’s, PetSmart, OfficeMax

and Lowes. Woodstock Square has had an estimated 544,000

customers over the last 12-month period. On average, customers

spend approximately 53 minutes at the shopping center with the

highest concentration of visits between 12 - 4 PM. In addition,

Woodstock Square receives approximately the same number of

visits during weekdays (±300,000 visits per day) with an increased

number of visits over the weekend (±500,000 visits per day).

Average Stay53 min

WOODSTOCKSQUARE

R YA N G O M E Z Senior DirectorCapital Markets | Net Lease Group

Direct: 760-431-3824 // Mobile: 858-822-9811ryan.gomez@cushwake.comLicense: CA 01753933

©March 20, 2020 9:17 AM Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. No warranty or representa-tion, express or implied, is made as to the condition of the property (or properties) referenced herein or as to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). Any projections, opinions or estimates are subject to uncertainty and do not signify current or future property performance.

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