ABSOLUTE NNN FEE SIMPLE GROUND LEASE PNC BANK S&P RATING: A

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1 ABSOLUTE NNN FEE SIMPLE GROUND LEASE PNC BANK S&P RATING: A AT FAIR LAKES PROMENADE AVERAGE HOUSEHOLD INCOME: $145K SINGLE-TENANT OPPORTUNITY FAIRFAX, VIRGINIA Representative Photo FOR MORE INFORMATION CONTACT: Mark Drazek Senior Vice President Net Lease Property Group mark.drazek@cbre.com CBRE, Inc. Licensed Real Estate Broker

2 CONFIDENTIAL MEMORANDUM & DISCLAIMER This Offering Memorandum was prepared by CBRE, Inc. ( Broker ) solely for the use of prospective purchasers of PNC Fair Lakes Promenade Drive, Fairfax, VA (the Property ). Neither the Broker nor the owner of the Property ( Owner ) makes any representation or warranty, expressed or implied, as to the completeness or accuracy of the material contained in the Offering Memorandum. Prospective purchasers of the Property are advised that changes may have occurred in the physical or financial condition of the Property since the time this Offering Memorandum or the financial statements therein were made by Broker and not by Owner and are based upon assumptions or events beyond the control of Broker and Owner, and therefore may be subject to variation. Other than historical revenue and operating expense figures for the Property, Owner has not, and will not, provide Broker or any prospective purchaser with any income or expense figures, budgets, or projections regarding the Property. Prospective purchasers of the Property are advised and encouraged to conduct their own comprehensive review and analysis of the Property. The Offering Memorandum is a solicitation of interest only and is not an offer to sell the Property. The Owner and Broker expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and expressly reserve the right at their sole discretion, to terminate discussions with any entity at any time with or without notice. The owner shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless and until such offer for the Property is approved by owner pursuant to its Finance Committee authorities and the signature of the Vice President or Owner is affixed to a Real Estate Purchase Agreement prepared by Owner. This Offering Memorandum is confidential. By accepting the Offering Memorandum, you agree (i) that you will hold and treat the Offering Memorandum and its contents in the strictest of confidence, (ii) that you will not photocopy or duplicate any part of the Offering Memorandum, (iii) that you will not disclose the Offering Memorandum or any of its contents to any other entity without the prior written authorization of the Owner, and (iv) that you will not use the Offering Memorandum in any fashion or manner detrimental to the Owner or Broker CBRE, Inc. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Disclaimer

3 EXECUTIVE SUMMARY CBRE is pleased to present this long term absolute NNN fee simple ground lease. The property is 100% leased to PNC Bank who holds an investment grade credit rating from S&P of A. The lease includes aggressive 12% increases every 5 years with no landlord management obligations. The property is located in a very affluent sub-market of Fairfax, VA boasting an average household income of over $145K. INVESTMENT HIGHLIGHTS Long term absolute NNN fee simple ground lease PNC is one of the top 5 largest banks in the US and boasts an S&P Rating: A Fixed rental increases of 12% every 5 years No landlord management obligations Located in one of the most affluent markets in the United States Across from Fair Oaks Mall - One of the affluent region s premiere shopping destinations No debt to assume Price: $9,333,333 Annual Rent: $504,000* Cap Rate: 5.40% Tenant: Rental Increases: Lease Term: Options: PNC Bank 12% every 5 years including options 15 years remaining on a 20 year initial lease term (expires 8/2/2028) (2) 5-year options Rent Commencement: August 3, 2008 Landlord Obligations: Existing Financing: Building Size: Land Size: Parking Spaces: Drive Through Lanes: None Absolute NNN fee simple ground lease No debt to assume Able to pay all cash 4,470± SF 0.49± Acres 10 spaces 3 lanes Year Built: 2008 * Rent increases to $504,000 in August Seller will provide a credit at closing for the difference in current rent and the $504,000. Executive Summary

4 SURVEY

5 AERIAL PHOTOGRAPHS FAIR OAKS MALL 0) 70 U RO Aerial Photographs ( WY K P 7 TE ES AK L IR FAIR LAKES FA PROMENADE M ON UM EN T DR (R OU TE 6 ATE 6 TERST IN 3 )

6 FAIR OAKS MALL / FAIR LAKES PROMENADE Fair Oaks Mall is one of the region s largest premier shopping destinations in Fairfax, Virginia, less than 18 miles from Washington D.C. Fair Oaks features a collection of 200 shops, services and dining establishments in an enclosed, two-story retail center, including Macy s I and II, Lord & Taylor, Sears and JCPenney. With Aldo, Apple, Banana Republic, BCBGMaxAzria, Brighton Collectibles, Coach, J. Crew, H&M, Michael Kors, Liljenquist-Beckstead, Love Culture, MAC, Pottery Barn, Sephora, Verizon Experience, Williams-Sonoma, XXI Forever, The Cheesecake Factory, Todai, Luciano, Elevation Burger, Champps and Texas de Brazil Steakhouse, Fair Oaks offers one of the most diverse and compelling retail and dining collections under one roof. Fair Lakes Promenade is a 140,000-square-foot community center located at I-66 and West Ox Road in Fairfax. Adjacent to Fair Oaks Mall, the center includes hhgregg, Nordstrom Rack, Old Navy, Barnes & Noble, TGI Friday s, Men s Wearhouse, Macaroni Grill and GameStop.

7 AERIAL PHOTOGRAPHS LEE OX W. JA CK SO RD NM EM OR IAL Aerial Photographs FAIR OAKS MALL 0) 70 U RO IR FA S KE LA ( WY PK 7 TE FAIR LAKES PROMENADE M ON UM EN ATE TERST 66 IN 5 TD R (R OU TE 6 751) HW Y

8 PROPERTY LOCATOR MAPS Property Locator Maps 6

9 PROPERTY LOCATOR MAPS Property Locator Maps 7

10 PROPERTY LOCATOR MAPS Property Locator Maps 8

11 DEMOGRAPHICS 1 mile radius 3 mile radius 5 mile radius 2013 Estimated Population 19,583 94, , Projected Population 21, , , Census Population 18,189 90, , Census Population 10,267 66, ,328 Growth % 5.02% 3.27% Growth % 7.60% 5.36% 2013 Estimated Households 9,128 35,446 87, Est. Average Household Income $108,136 $145,286 $151, Prj. Average Household Income $118,073 $161,050 $166, Cen. Avg. Household Income $81,700 $104,072 $104, Est. Average Household Size Est. Median Household Income $88,335 $109,109 $113, Prj. Median Household Income $95,359 $121,282 $124, Cen. Median Household Income $68,247 $87,213 $87, Estimated Median Age Estimated Average Age Estimated Males 9,541 46, ,632 - Males Median Age Males Average Age Estimated Females 10,042 48, ,554 - Females Median Age Females Average Age Estimated Population by Race and Origin 19,583 94, ,187 - White Population 10,517 54, ,634 - Black Population 2,081 6,112 15,925 - Asian Population 5,131 26,212 58,018 - Pacific Islander Population American Indian and Alaska Native Other Race Population 849 2,996 10,152 - Two or More Races Population 925 3,925 10,567 - Hispanic Population 2,223 9,167 29,133 - White Non-Hispanic Population 9,308 49, , Est. Median Housing Value $351,265 $410,027 $410, Est. Average Housing Value $377,527 $444,073 $439,644 Active Postal Delivery Counts 8,968 34,628 86,797 Possible Postal Delivery Counts 8,990 34,681 86,913 Employees 24,142 58, ,716 Establishments 1,010 3,967 10,556 Demographics 9

12 TENANT DESCRIPTION PNC Bank (NYSE: PNC/S&P Rating: A) The PNC Financial Services Group is one of the nation s largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-backed lending; wealth management and asset management. The company operates about 2,500 branches in more than a dozen states in the mid-atlantic, the Midwest, and Florida. In addition to retail and corporate banking, the company offers insurance, investments, personal and institutional asset management, and capital markets products and services. It owns boutique investment bank Harris Williams and about a quarter of money management giant BlackRock. PNC acquired RBC Bank (USA) from Royal Bank of Canada in The nearly $3.5 billion acquisition extended PNC s retail banking franchise in the Southeast and cemented its place among the five largest banks in the US. Tenant Description 10

13 SINGLE-TENANT OPPORTUNITY FAIRFAX, VIRGINIA ABSOLUTE NNN FEE SIMPLE GROUND LEASE PNC BANK AT FAIR LAKES PROMENADE AVERAGE HOUSEHOLD INCOME: $145K FOR MORE INFORMATION CONTACT: Mark Drazek Senior Vice President Net Lease Property Group CBRE, Inc. Licensed Real Estate Broker