I N V E S T M E N T O F F E R I N G

E V A N S V I L L E , I N - E V A N S V I L L E S H O P S

The information contained herein has been carefully compiled from sources we consider reliable, and while not guaranteed as to completeness or accuracy, we believe it to be correct as of this date. The proforma revenues and expenses set forth in this brochure do not constitute a representation, warranty, or guaranty of any of the numbers set forth herein or of any economic value attributable to the property or income that may be derived therefrom. Independent estimates of proforma revenues and expenses should be developed before any decision is made on whether to invest in the property.

1031 N Green R iver Rd. , Evansv i l le , IN 47715

Wes Elmore1531 Ormsby Station CourtLouisville, KY 40223(502) 814-0291

EXCLUSIVE INVESTMENT ADVISORS: LOCAL MARKET ADVISOR:

Thomas Chichester

Managing Directortchichester@farislee.com(949) 221-1820R.E. License No 01915137

Joseph Chichester

Managing Directorjchichester@farislee.com(949) 221-1813R.E. License No. 01915138

Nicholas Coo

Senior Managing Directorncoo@farislee.com(949) 221-1811R.E. License No 01226006

Matt Brooks

Directormbrooks@farislee.com(949) 221-1832R.E. License No. 01976931

18301 Von Karman Avenue, Suite 800, Irvine, CA 92612 P (949) 221-1800 F (949) 221-1830 www.farislee.com

E V A N S V I L L E S H O P S

BROKER OF RECORD

Aaron McDermott IN Broker #: PB20600956

Pr ic ing Analys is

Property Specif ications

T A B L E O F C O N T E N T S

4

14

D O W N T O W N E V A N S V I L L E

PROPERTY OVERVIEW

T H E O F F E R I N GFaris Lee Investments is pleased to offer for sale the fee simple interest (land and building), in a 3-tenant, 100% leased strip center, located in Evansville, IN. The property features a national tenant lineup including: The Vitamin Shoppe, Firehouse Subs, and T-Mobile, which have all been operating at this site successfully for many years. The property is very well positioned in Evansville, sitting in the heart of the regions retail center and directly across from Evansville’s Eastland Mall (1,000,000+ SF). As the regional hub for the Tri-State (Indiana, Kentucky, and Illinois) area, Evansville is home to the University of Southern Indiana and also the University of Evansville. In addition, there are over 124,000 consumers and over 117,000 daytime employees within a 5-mile radius of the center providing a consistent stream of customer activity.

$3,256,000PRICE

$219,768NOI

6.75%CAP RATE

ES

INVESTMENT HIGHLIGHTS

100%LEASED

Strong Tenant Lineup / Nationally Recognized Brands

• T-Mobile: Public Company (NYSE: TMUS), 700+ locations, S&P rated BB

• The Vitamin Shoppe: 700+ locations, 2018 assets of $420 Million and publicly traded company (NYSE: VSI)

• Firehouse Subs: Over 1,100 locations throughout 44 states, generated more than $715 in system-wide sales in 2017

Ease of Management / NNN Leases

• The property is fully occupied with 3 nationally recognized tenants providing ease of management

• Ideal investment for 1031 exchange buyer

Signage / Strong Visibility along one of Evansville’s Busiest Thoroughfares

• Located along one of Evansville’s most trafficked roadways - N. Green River Road (30,000 VPD)

• Features excellent street frontage and visibility with pylon signage

• Convenient access

Strong Demographics /

Tri-State Area (IN, KY, IL)

• Over 124,700 people within 5-mile radius

• Over $62,600 AAHI within 5-mile radius

• Over 117,300 daytime business employees within 5-miles

Located within Dominant Retail Corridor

within Evansville

• Property is located directly across from the

1,000,000+ SF Eastland Mall with retailers including:

Macy’s, JCPenny, Dillard’s, Bath & Body Works, Old

Navy, and much more.

• Other strong retailer in the immediate area include

Marshalls, David’s Bridal, Bed Bath & Beyond,

Chipotle, McDonald’s, Starbucks, Chuck E. Cheese’s

and much more.

• Increases consumer demand and cross-over traffic to

the immediate area

Located in the Regional Hub for the Tri-

State Area

• Property is strategically situated in Evansville, which

is the #3 largest city in all of Indiana and is a regional

hub being only 26 miles from Illinois and less than 1

mile from Kentucky.

* CoStar 2018

Parcel Map

Location

1031 N Green River RdEvansville, IN 47715

Rentable Area

8,050 SFLand Area: 0.9 Acres (49,223 SF)

Ownership

Fee Simple (Land & Building)

Access

There are two (2) access points, one (1) along N Green River Road and one (1) along Carriage Drive

Year Built

2007Commercial General/Retail Zoning

Parking

There are approximately 49 dedicated parking stalls on the owned parcel. The parking ratio is approximately 6.1 parking stalls per 1,000

SF of leasable area.

Traffic Counts*

N Green River Rd: 30,070 VPDCarriage Drive: 6,000 VPD

PROPERTY SPECIFICATIONS

PARCEL ACRES SF82-06-24-012-174 0.9 49,223

PROPERTY OVERVIEW · 7

PROPERTY OVERVIEW · 8

A D J A C E N T P R O P E R T Y

ES

PROPERTY OVERVIEW · 9

N E A R B Y R E T A I L E R S

PROPERTY OVERVIEW · 10

A E R I A L V I E W

ES

ES

E V A N V I L L E I N T E L

DISTANCE FROM EVANSVILLE:

LOUISVILLE

90 Miles

NASHVILLE

130 Miles

INDIANAPOLIS

140 Miles

ST. LOUIS

150 Miles

Employees in a 5 mile radius

114,000+

Estimated Population in Evansville

120,200Home appreciation in the last year5.3%

Average Household Income in 5 Mile radius

$62,800+

Predicted job growth over the next 5 years5.1%

Recent Job Growth in Evansville

3.75%

Average Commute Time19 Minutes

PROPERTY OVERVIEW · 11

Company

Deaconess Hospital

Toyota

St. Vincent Health

Evansville Vanderburgh Schools

University of Southern Indiana

Berry Global

TJ Maxx

Koch Enterprises

OneMain Financial

City of Evansville

Employment

6,100

5,400

3,529

3,290

2,512

2,699

1,520

2,000

1,171

900

M A J O R E M P L O Y E R SFast Facts The Town of Evansville Located along the banks of the Ohio River in the southwestern corner of Indiana is the city of Evansville. As the regional hub for the Tri-State (Indiana, Kentucky, and Illinois) area, Evansville is home to the University of Southern Indiana and also to the University of Evansville. The city, which is also known as the “River City,” serves as the county seat of Vanderburgh County. By the middle of the 20th century, Evansville evolved as a major industrial center and by the latter part of the century, had transformed itself into a regional commercial and medical hub. The city’s economy received a major boost in 1995 with the opening of Casino Aztar, the first riverboat casino in the state of Indiana. The associated entertainment facility includes a 250-room hotel, shops, restaurants, and a nearby entertainment district.

The town is home to around 120,200 people, making it the third most populous city after Indianapolis and Fort Wayne. In 2008, the town was rated by Kiplinger as #1 in the country to live, work, and play. In 2009, it ranked eleventh.

Economic HighlightsCorporate HeadquartersSeveral large publicly traded companies have established national or international headquarters in Evansville, including Accuride, Berry Global, Springleaf (OneMain) Financial, Vecatren, Escalade, Old National Bank, and Shoe Carnival. The town serves as the major economic hub for the Southern Indiana/Northern Kentucky region.

Education » The University of Evansville is a small private school on the

town’s east side affiliated with the United Methodist Church. The vast majority of the school’s 2,500 students study natural sciences and the liberal arts.

» The University of Southern Indiana is a much larger school (11,030 students) and lie just outside of Evansville’s western border. The school is well known throughout the state for its prowess in medicine, nursing, and education studies.

SPRINGLEAF (ONEMAIN) FINACE OFFICE

PROPERTY OVERVIEW · 12

E V A N S V I L L E , I N O V E R V I E W

Evansville, IN (rol3.sitesusa.com) 1 Mile 3 Mile 5 Mile

2018 Estimated Population 4,247 61,196 124,723

2023 Projected Population 4,120 60,145 125,880

2010 Census Population 4,274 61,271 124,018

2000 Census Population 4,378 58,577 120,557

Projected Annual Growth 2018 to 2023 -0.6% -0.3% 0.2%

Historical Annual Growth 2000 to 2018 -0.2% 0.2% 0.2%

2018 Median Age 35.4 37.9 37.9

2018 Estimated Households 2,144 28,130 54,674

2023 Projected Households 2,135 28,323 56,455

2010 Census Households 2,080 27,204 52,582

2000 Census Households 2,080 25,532 50,935

Projected Annual Growth 2018 to 2023 -0.1% 0.1% 0.7%

Historical Annual Growth 2000 to 2018 0.2% 0.6% 0.4%

2018 Estimated White 78.5% 82.6% 79.7%

2018 Estimated Black or African American 10.0% 9.8% 13.3%

2018 Estimated Asian or Pacific Islander 4.0% 2.2% 2.0%

2018 Estimated American Indian or Native Alaskan 0.3% 0.3% 0.3%

2018 Estimated Other Races 7.2% 5.1% 4.8%

2018 Estimated Hispanic 6.5% 4.2% 3.4%

2018 Estimated Average Household Income $45,388 $62,173 $62,614

2018 Estimated Median Household Income $33,892 $50,324 $49,252

2018 Estimated Per Capita Income $22,933 $28,722 $27,734

2018 Estimated Total Businesses 1,213 3,951 6,774

2018 Estimated Total Employees 17,608 59,168 117,324

2018 Estimated Employee Population per Business 14.5 15.0 17.3

2018 Estimated Residential Population per Business 3.5 15.5 18.4

Population

House

holds

Eth

nicity

Income

Business

PROPERTY OVERVIEW · 13

D E M O G R A P H I C S

PRICING ANALYSIS

Unit Tenant Square Feet101 T-Mobile 2,400102 Firehouse Subs 2,400103 Vitamin Shoppe 3,250

Pylon Sign

N. G

reen

Riv

er R

oad

101

102

103

PRIC ING ANALYS IS · 15

S I T E P L A N

SITE PLAN NOT TO SCALE

1 3,250 40% $9,831 $3.03 $117,975 $36.30 53% NNN 8/8/2011 11/30/2021 2 (5-Year)Option 1: $39.93 PSF

Option 2: $43.92 PSF

2 2,400 30% $2,800 $1.17 $33,600 $14.00 15% Jan-2020 7% $3,000 $1.25 $36,000 $15.00 NNN 10/1/2018 12/31/2024 1 (5-Year)Jan-2023 20% $3,600 $1.50 $43,200 $18.00 Option 1: $19.50 PSFJan-2024 6% $3,800 $1.58 $45,600 $19.00

3 2,400 30% $6,000 $2.50 $72,000 $30.00 32% NNN 5/6/2008 8/31/2021 1 (2-Year)

$32.00 PSF

Total Occupied 8,050 100% $18,631 $2.31 $223,575 $27.77 100%Total Vacant 0 0% $0 $0 0%

Total / Wtd. Avg: 8,050 100% $18,631 $2.31 $223,575 $27.77 100%Notes:Firehouse Subs begins paying $33,600 effective January 1, 2019T-Mobile current lease expiration is 8/31/2018; rent roll reflects the executed LOI to extend lease through 8/31/2021

15% Admin on CAM

15% Admin on CAM

2.5% Mgmt

Suite # TenantSize (SF)

% of Total (SF)

AnnualRent

Annual$/SF

Vitamin Shoppe

Firehouse Subs

T-Mobile

MonthlyRent$/SF

% of Total (Rent)

Current Monthly

Rent

CAM Recovery

Type

LeaseStartDate

LeaseExpiration

DateLease Options

CurrentAnnual

Rent

AnnualRent$/SF

Rental Increases

IncreaseDate

IncreaseMonthly

RentMonthly

$/SF

The above information has been obtained from sources we believe to be reliable, however we cannot accept responsibility for its correctness. PRIC ING ANALYS IS · 16

R E N T R O L L

Financial Information Estimated Potential 1st Loan:Price: $3,256,000 Loan Amount: $2,116,000 65%

Down Payment: $1,140,000 35%Payment (monthly): ($11,359)Interest Rate: 5.00%Amortization: 30 years

Property Specifications Maturity: 10 yearsRentable Area: 8,050 SFLand Area: 0.9 AcresYear Built: 2007Address: 1031 N Green River Road

Evansville, IN 47715APN: 82-06-24-012-174Major Tenants: Vitamin Shoppe, Firehouse Subs, T-Mobile

Estimated Operating Information Jan-19

Gross Potential Rent $223,575Plus Recapture $46,897

Tot. Gross Potential Income $270,472Effective Gross Income $270,472

Less Expenses ($50,703)Net Operating Income $219,768

Less Debt Service ($136,310)Cash Flow $83,459

Cap Rate: 6.75%Cash/Cash: 7.32%

Estimated Operating Expenses PSF/Yr

Taxes (1) $32,430 $4.03

Insurance (2) $2,591 $0.32

CAM (3) $8,921 $1.11

Management (4) 2.50% $6,762 $0.84

Total $50,703 $6.30

(1) Per 2017 Income Statement and an applied 2% growth rate(2) Per 2017 Income Statement and an applied 2% growth rate(3) Per 2017 Income Statement and an applied 2% growth rate(4) Market rate of 2.5% of EGI has been estimated for Management.

The above information has been obtained from sources we believe to be reliable, however we cannot accept responsibility for its correctness.

PRIC ING ANALYS IS · 17

T R A N S A C T I O N S U M M A R Y

FIREHOUSE SUBSFirehouse Subs is an American-based, fast casual food restaurant chain that specializes in hot subs and features locations in 44 states. Founded in 1994 in Jacksonville, Florida, by former firefighter brothers Robin and Chris Sorensen, Firehouse Subs serves sandwiches with meats and cheeses, “steamed” hot and placed on a toasted sub roll. The company operates over 1,100 locations throughout 44 states and abroad, which generated over $715 million in system-wide revenue in 2017.

Company Type: PrivateLocations: 1,100+Website: www.firehousesubs.com

T-MOBILEAs America’s Un-carrier, T-Mobile US, Inc. (NYSE: TMUS) has redefined the way consumers and businesses buy wireless services through leading product and service innovation. The Company’s advanced nationwide 4G LTE network delivers outstanding wireless experiences to approximately 72.6 million customers who are unwilling to compromise on quality and value. Based in Bellevue, Washington, T-Mobile US provides services through its subsidiaries and operates its flagship brands, T-Mobile and MetroPCS, which more than 2,200 T-Mobile and MetroPCS retail locations including store and kiosks throughout the US and internationally.Company Type: Public (NYSE: TMUS) 2017 Employees: 51,000 2017 Net Income: $5.53 Billion 2017 Equity: $22.55 Billion

2017 Revenue: $40.60 Billion 2017 Assets: $70.56 Billion S&P Ranking: BB Website: www.t-mobile.com

THE VITAMIN SHOPPEVitamin Shoppe, Inc., through its subsidiaries, operates as a omni-channel specialty retailer and contract manufacturer of nutritional products in the United States and internationally. The company provides custom manufacturing and private labeling services for vitamin, mineral, and supplement products, as well as develops and markets own branded products. It offers vitamins, minerals, herbs, specialty supplements, sports nutrition products, and other health and wellness products of approximately 900 brands, such as own brands comprising The Vitamin Shoppe, BodyTech, True Athlete, Mytrition, ProBioCare, Next Step, Optimum Nutrition,Quest Nutrition, Solaray and more. The company was formerly known as VS Holdings, Inc. and changed its name to Vitamin Shoppe, Inc. in November 2009. Vitamin Shoppe, Inc. was founded in 1977 and is headquartered in Secaucus, New Jersey.

Company Type: Public: (NYSE: VSI)Locations: 700+ 2018 Equity: $193.60 Million

2018 Assets: $420.00 Million Website: www.vitaminshoppe.com

PRIC ING ANALYS IS · 18

T E N A N T S Y N O P S I S

18301 Von Karman Ave., Suite 800 | Irvine, CA 92612 | P (949) 221-1800 | F (949) 221-1830 | farislee.com

Thomas Chichester

Managing Directortchichester@farislee.com(949) 221-1820R.E. License No 01915137

Joseph Chichester

Managing Directorjchichester@farislee.com(949) 221-1813R.E. License No. 01915138

Nicholas Coo

Senior Managing Directorncoo@farislee.com(949) 221-1811R.E. License No 01226006

Matt Brooks

Directormbrooks@farislee.com(949) 221-1832R.E. License No. 01976931

Aaron McDermott IN Broker #: PB20600956

E V A N S V I L L E , I N - E V A N S V I L L E S H O P S