TWO TENANT NET LEASE INVESTMENT PROPERTY HHGREGG & BURLINGTON COAT FACTORY

TWO TENANT NET LEASE INVESTMENT PROPERTY HHGREGG & BURLINGTON COAT FACTORY PRIME SOUTHWEST FLORIDA LOCATION INVESTMENT OPPORTUNITY FOR MORE INFORMATION CONTACT: Mark Drazek Senior Vice President Net Lease Properties +1 407 839 3123 mark.drazek@cbre.com Michael Shover Senior Vice President Investment Properties +1 484 567 2344 michael.shover@cbre.com Matthew Gorman Senior Vice President Investment Properties +1 484 567 2340 matthew.gorman@cbre.com CBRE, Inc. Licensed Real Estate Broker

CONFIDENTIAL MEMORANDUM & DISCLAIMER This Offering Memorandum was prepared by CBRE, Inc. ( Broker ) solely for the use of prospective purchasers of 6411 Tacoma Drive, Port Richey, FL 34668 (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. 2015 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. Licensed Real Estate Broker. 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

EXECUTIVE SUMMARY CBRE is pleased to present this long term two tenant hhgregg/burlington Coat Factory net lease property located along Southwest Florida s Gulf Coast. This property was recently fully renovated and refit for hhgregg and Burlington Coat Factory who both signed new 10 year leases with fixed rental increases and structured to provide for minimal landlord management obligations. The property is extremely well located in the heat of a regional retail draw destination surrounded by many national retailers. The offering requires the assumption of a very attractive CMBS loan providing an average return on investment of 9.25% over the initial term of the leases. *Due to the fact that these leases were negotiated prior to market recovery, this is an opportunity to purchase a property with solid fundamentals and strong underlying intrinsic value. INVESTMENT HIGHLIGHTS: Long term net leases with desirable national tenants Very successful location for both tenants Prime Southwest Florida regional retail location surrounded by significant density of national retailers Fixed rental increases Minimal landlord obligations Strong intrinsic value Purchase price of $124 PSF is less than replacement value RETURN ON EQUITY: 8.46% COMING IN AND AVERAGING 9.25% OVER INITIAL LEASE TERMS High traffic location with over 55K cars daily with traffic signal SUBJECT Hwy 19 Embassy Blvd The property has been entirely renovated and refit with the following Full façade renovation New roof New HVAC systems New restrooms Upgraded electrical and plumbing New landscaping Attractive debt to assume FLORIDA HAS NO STATE INCOME TAX Executive Summary 1

EXECUTIVE SUMMARY Executive Summary Price: Equity Required: $4,700,000 Avg. Return on Equity: $11,300,000 ($124 PSF) 9.25% over initial term Cash Flow: 2015 2017: $398,781 Return on Equity 8.46% 2018 2022: $457,281 Return on Equity 9.73% Annual Rent: Current Total: $839,082 hhgregg: current 9/30/17: $305,500 10/1/17 9/30/22: $331,500 Burlington: current 2/28/2018: $533,582 3/1/18 2/28/2023: $567,325 Cap Rate: 7.42% Tenants: Lease Term: hhgregg: 8 years remaining Burlington: 8 years remaining Options: hhgregg: (4) 5-year options w/ 7% +/- increase each Burlington: (4) 5-year options w/ 5% +/- increase each Rent Commencement: hhgregg: 10/1/2012 Burlington: 4/1/2012 Landlord Obligations: Roof and structure. Management obligations are performed by the adjacent shopping center owner and passed through to the tenants allowing for minimal landlord oversight obligations. Existing Financing: $6.6M remaining on $6.8M CMBS loan MUST BE ASSUMED Rate: 5.07% Term: 10 yrs Amort: 30 yrs Debt Svc: $441,544 annually Building Size: hhgregg: 26,000 SF Burlington: 65,000 SF Total: 91,000 ±- SF Land Size: 8.4 ± acres Parking Spaces: 502 spaces (5.52 spaces per 1,000 SF) Year Built: 1991 with complete remodel and refit in 2012 2

AERIAL PHOTOGRAPHS SUBJECT Hwy 19 (55,000 CPD) Embassy Blvd (11,200 AADT) Aerial Photographs 3

AERIAL PHOTOGRAPHS SUBJECT Hwy 19 (55,000 CPD) Aerial Photographs 4

SITE PLAN Site Plan Main Site Pylon Sign Site Included Gulf View Square Mall Site Plan 5

PROPERTY PHOTOGRAPHS Property Photographs 6

PROPERTY LOCATOR MAPS Property Locator Maps 10

DEMOGRAPHICS 1 mile radius 3 mile radius 5 mile radius Demographics 2015 Estimated Population 8,807 55,348 109,005 2020 Projected Population 8,815 55,158 109,099 2010 Census Population 8,973 56,767 111,227 2000 Census Population 8,637 56,206 111,917 Growth 2010-2015 -1.86% -2.50% -2.00% Growth 2015-2020 0.10% -0.34% 0.09% 2015 Estimated Households 3,772 24,359 48,775 2015 Est. Average Household Income $41,801 $43,012 $45,835 2020 Prj. Average Household Income $46,834 $46,803 $49,971 2000 Cen. Avg. Household Income $30,856 $34,819 $37,755 2015 Est. Average Household Size 2.30 2.26 2.20 2015 Est. Median Household Income $30,916 $33,306 $34,184 2020 Prj. Median Household Income $34,305 $35,851 $36,802 2000 Cen. Median Household Income $25,576 $27,952 $29,530 2015 Estimated Median Age 40.22 45.03 49.00 2015 Estimated Average Age 40.99 44.25 46.65 2015 Estimated Males 4,267 26,660 52,517 - Males Median Age 38.76 43.23 47.11 - Males Average Age 39.63 42.90 45.24 2015 Estimated Females 4,540 28,688 56,488 - Females Median Age 41.65 46.74 50.83 - Females Average Age 42.18 45.41 47.83 2015 Estimated Population by Race and Origin 8,807 55,348 109,005 - White Population 7,580 49,303 98,876 - Black Population 391 1,740 2,784 - Asian Population 101 675 1,408 - Pacific Islander Population 6 29 59 - American Indian and Alaska Native 47 284 446 - Other Race Population 428 1,807 2,798 - Two or More Races Population 254 1,510 2,634 - Hispanic Population 1,346 7,194 11,346 - White Non-Hispanic Population 6,807 44,691 91,514 2015 Est. Median Housing Value $84,017 $83,354 $94,125 2015 Est. Average Housing Value $106,377 $110,750 $130,069 Active Postal Delivery Counts 4,063 26,601 54,211 Possible Postal Delivery Counts 4,651 29,888 59,024 Employees 5,207 23,083 46,507 Establishments 518 2,933 6,186 13

TENANT INFORMATION hhgregg www.hhgregg.com NYSE: HGG The H.H. Gregg company was founded on April 15, 1955, in Indianapolis, Indiana as an appliance showroom. Nearly 60 years later the company has evolved into a publicly traded (NYSE: HGG) multi-regional retailer with 229 stores in 20 states selling consumer electronics, home appliances computing/wireless products and related high-quality products for the home. hhgregg ranked highest in customer satisfaction for appliance retailers by J.D. Power and Associates 2014. 2013 Financial Performance Revenue: $2.4B EBITDA: $84M Burlington Coat Factory www.burlingtoncoatfactory.com NYSE: BURL The roots of Burlington Coat Factory Warehouse Corporation go back to 1924 as a wholesaler of ladies coats and junior suits. In 1972, the company opened it s first outlet store in Burlington, New Jersey. Coats were the primary offering at the original Burlington Coat Factory, but over time the concept evolved into extensive selections of men s and women s suits, sportswear, shoes, accessories, baby/youth items as well as linens. Today, the company is a national retail chain which offers current, high quality, designer merchandise at prices up to 70% below those at other department stores through 521 stores in 44 states and Puerto Rico. Burlington Coat Factory went public in 1983 and is traded on the New York stock exchange under the ticker BURL. In 2006 the company was purchased by private investment global leader, Bain Capital Partners for $2.06 billion. Tenant Information 14 2013 Financial Performance Revenue: $4.5B EBITDA: $384M

TWO TENANT NET LEASE INVESTMENT PROPERTY HHGREGG & BURLINGTON COAT FACTORY PRIME SOUTHWEST FLORIDA LOCATION INVESTMENT OPPORTUNITY FOR MORE INFORMATION CONTACT: Mark Drazek Senior Vice President Net Lease Properties +1 407 839 3123 mark.drazek@cbre.com Michael Shover Senior Vice President Investment Properties +1 484 567 2344 michael.shover@cbre.com Matthew Gorman Senior Vice President Investment Properties +1 484 567 2340 matthew.gorman@cbre.com CBRE, Inc. Licensed Real Estate Broker