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SINGLE TENANT INVESTMENT OPPORTUNITY

CHAPARRAL, NEW MEXICO

FAMILY DOLLAR

This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.

Actual SiteBroker of Record: Kevin Cordova - NM License No. B.19145

EXCLUSIVELY MARKETED BY

JIM SCHUCHERT | SENIOR ASSOCIATESRS NATIONAL NET LEASE GROUP

610 Newport Center Drive, Suite 1500 | Newport Beach, CA 92660DL: 949.270.8204 | M: 310.971.3892

Jim.Schuchert@srsre.com | CA License No. 01969414

JOE SCHUCHERT | SENIOR ASSOCIATESRS NATIONAL NET LEASE GROUP

610 Newport Center Drive, Suite 1500 | Newport Beach, CA 92660DL: 949.629.4540 | M: 310.971.3116

Joe.Schuchert@srsre.com | CA License No. 01973172

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Actual Site

5INVESTMENT SUMMARY

INVESTMENT HIGHLIGHTS

7PROPERTY OVERVIEW

PARCEL MAPAERIALS

SITE PLAN LOCATION MAP

12AREA OVERVIEW

CITY OVERVIEWDEMOGRAPHICS

14FINANCIALS

COMPARABLESRENT ROLL

TENANT OVERVIEW

INVESTMENT SUMMARY OFFERING

PROPERTY SPECIFICATIONS

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5 / FAMILY DOLLAR / CHAPARRAL, NEW MEXICO INVESTMENT SUMMARY / SRS NATIONAL NET LEASE GROUP

SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land and building) in a Family Dollar located in Chaparral, NM. Built in 2001, Family Dollar has been operating at this location for over 15 years. The NN+ lease has approximately 4.75 years remaining in the existing term with two (2) – five (5) year options at 10% rental increases. Family Dollar is required to report store sales on an annual basis; store sales have increased every year since 2014 (please contact agent for details).

Chaparral is part of the Las Cruces MSA and primarily serves as a bedroom community for the neighboring city of El Paso, TX and the neighboring military installations of Fort Bliss & White Sands Missile Range. The subject property is strategically located less than 3 miles from the border of Texas/New Mexico. In addition, Chaparral is less than 25 miles from El Paso, TX & less than 40 miles from Las Cruces, NM. The 5-mile trade area is supported by a population of 20,283 with an average household income of $50,902.

PRICING: $908,212

NET OPERATING INCOME: $77,198

CAP RATE: 8.50%

GUARANTY: Corporate

LEASE TYPE: NN+

LANDLORD RESPONSIBILITIES: Roof & Structure

RENTABLE AREA: 10,000 SF

LAND AREA: 0.80 Acres

PROPERTY ADDRESS: 300 Hermosa Drive, Chaparral, NM 88081

YEAR BUILT: 2001

PARCEL NUMBER: 17-16550

OWNERSHIP: Fee Simple (Land and Building)

INVESTMENT HIGHLIGHTS

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6 / FAMILY DOLLAR / CHAPARRAL, NEW MEXICO INVESTMENT HIGHLIGHTS / SRS NATIONAL NET LEASE GROUP

FAMILY DOLLAR CORPORATE GUARANTEED LEASE• Family Dollar Corporate Guaranteed Lease• 4.75 Years Remaining in the Current Term• Two (2) – Five (5) Year Option Periods with 10% Rental Increases

ESTABLISHED LOCATION:• Family Dollar Has Been Operating At This Location for 15+ Years• Upgraded Construction Building – 10,000 SF • Increasing Store Sales – Store Sales Have Increased Every Year Since 2014• Tenant Required to Report Store Sales On An Annual Basis (Please Contact Agent for

Details)

NN+ LEASE | MINIMAL LANDLORD RESPONSIBILITIES:• Tenant Pays ALL Taxes Directly & ALL Insurance Costs Are 100% Reimbursed• Tenant is Responsible for Maintaining, Repairing and Replacing The HVAC Systems• Tenant is Responsible for Maintenance & Repair of the Parking Areas (Including

Patching, Re-Sealing, Re-Striping & Re-Surfacing)

LOCATION:• Part of the Las Cruces Metropolitan Statistical Area• Chaparral Primarily Serves As a Bedroom Community for the Neighboring City of El

Paso, TX and the Neighboring Military Installations of Fort Bliss & White Sands Missile Range

• Lies Less Than 25 Miles from El Paso, TX & Less Than 40 Miles from Las Cruces, • 5 Mile Demographics – 20,283 Residents; $50,902 Average Household Income

TENANT:• The Nation’s 2nd Largest Dollar Store – 8,100 Locations in Over 48 States • The Combined Dollar Tree/Family Dollar Entity is Now the Largest Discounter in North

America with Over 14,224 Discount Variety Retail Stores with Annual Sales in Excess of $20.7 Billion

PROPERTY OVERVIEW

PARCEL MAP

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7 / FAMILY DOLLAR / CHAPARRAL, NEW MEXICO PROPERTY OVERVIEW / SRS NATIONAL NET LEASE GROUP

ACCESSThere are two (2) access points with one (1) along Hermosa Drive and one (1) along Chaparral Drive.

IMPROVEMENTSThere is approximately 10,000 SF of existing building area.

PARKINGThere are approximately 18 parking spaces on the owned parcel. The parking ratio is approximately 1.8 stalls per 1,000 SF of leasable area.

YEAR BUILT2001

PARCELParcel Number: 17-16550 Acres: 0.80 Square Feet: 34,848

ZONINGT5 - Town Center

N

N

HERMOSA DR.

CHAPARRAL DR.

PYLON SIGN

N

N

CHAPARRAL

EL PASO

2017 ESTIMATED POPULATION1 Mile .............................................................. 956 3 Mile ........................................................... 9,2495 Mile ......................................................... 20,283

2017 AVERAGE HOUSEHOLD INCOME1 Mile ........................................................$44,514 3 Mile ........................................................$41,903 5 Mile ........................................................$50,902

2017 ESTIMATED TOTAL EMPLOYEES1 Mile .............................................................. 2023 Mile .............................................................. 7125 Mile ........................................................... 1,411

45 Minutes | 40 MilesTo Las Cruces, NM

25 Minutes | 25 MilesTo El Paso, TX

AREA OVERVIEW OF CHAPARRAL, NEW MEXICO

12 / FAMILY DOLLAR / CHAPARRAL, NEW MEXICO AREA OVERVIEW / SRS NATIONAL NET LEASE GROUP

Chaparral, NM is a census place located in Dona Ana County, NM and Otero County, NM. Chaparral is primarily a bedroom community for the neighboring city of El Paso, Texas and the neighboring military installations of White Sands Missile Range and Fort Bliss. The population of Chapparal is 14,221. Chaparral borders the northern city limits of El Paso and is 32 minutes from the El Paso International Airport.

The most common job groups, by number of people living in Chaparral, NM, are Service, Natural Resources, Construction, & Maintenance, and Production & Transportation. Dona Ana Community College is building a modern branch campus in Chaparral to provide the residents of Chaparral with general education and workforce development services. The Gadsden Independent School District has enrolled its first class in its Early College High School.

Dona Ana County is one of 33 counties in the state of New Mexico. It was created in 1852 and is the second-most populated county in the state. The county seat, Las Cruces, has been ranked as one of the fastest-growing communities in the United States for the past decade. The county comprises 3,804 square miles in south-central New Mexico, and borders El Paso County, Texas, to the east and southeast. As of the 2015 Census, the population was 214,295.

Agriculture is part of the region’s heritage and is still very important to its economy and culture. Doña Ana County leads New Mexico counties in total market value and production of agricultural commodities like upland cotton, onions, tomatoes, chile, pecans, greenhouse products, colonies of bees, alfalfa hay, corn silage, and eggs. As the largest population center in the region, the central portion of Doña Ana County offers many existing and new employment opportunities. Las Cruces, Mesilla, and the Las Cruces Extra-Territorial Zone (ETZ) make up the majority of this area. It is home to many of the largest employers in the area, including Las Cruces Public Schools and New Mexico State University. Growth in manufacturing, transportation and warehouse jobs for the central and southern parts of the county are possible because of its proximity to maquiladora industries and ports of entry in New Mexico and Texas.

Otero County situated in New Mexico has nearly 64,000 residents. Otero County covers nearly 7,000 square miles, and the majority of our full-time residents live in these communities: Alamogordo, Bent, Cloudcroft, High Rolls/Mountain Park, Holloman AFB, La Luz, Mayhill, Mescalero, Orogrande, Pinon, Sacramento, Sunspot, Timberon, Tularosa and Weed. Nearby Ruidoso is famous for its tourist attractions, and White Sands National Monument draws over 600,000 visitors annually.

Otero County has a large population of retired and former military personnel from Holloman AFB and WSMR that are highly skilled in the aerospace, defense, and homeland security industries. This makes Otero County an attractive place for companies that develop technologies for the aerospace, future combat systems, defense contracts, and at the South West Regional Spaceport (SRS) located in Sierra County.

AREA OVERVIEW (CONTINUED)

13 / FAMILY DOLLAR / CHAPARRAL, NEW MEXICO AREA OVERVIEW / SRS NATIONAL NET LEASE GROUP

DEMOGRAPHICS 1 MILE 3 MILES 5 MILES

2017 Estimated Population 956 9,249 20,2832022 Projected Population 958 9,304 21,3202010 Census Population 958 9,202 16,594Projected Annual Growth 2017 to 2022 0.04% 0.12% 1.00%

2017 Estimated Households 304 2,830 6,0552022 Projected Households 305 2,846 6,4072010 Census Households 305 2,823 4,863Projected Annual Growth 2017 to 2022 0.07% 0.11% 1.14%

2017 Estimated White 59.20% 58.50% 61.90%2017 Estimated Black or African American 1.50% 1.30% 4.10%2017 Estimated Asian or Pacific Islander 0.30% 0.20% 0.90%2017 Estimated American Indian or Native Alaskan 1.40% 1.20% 1.20%2017 Estimated Other Races 35.00% 35.90% 28.30%2017 Estimated Hispanic 78.90% 81.10% 73.30%

2017 Estimated Average Household Income $44,514 $41,903 $50,902 2017 Estimated Median Household Income $32,210 $28,444 $35,361 2017 Estimated Per Capita Income $13,861 $12,756 $15,757

2017 Estimated Total Businesses 31 82 1322017 Estimated Total Employees 202 712 1,411

FINANCIAL INFORMATION PROPERTY SPECIFICATIONS

RENT ROLL

LEASE TERM RENTAL RATES

TENANT NAME SQUARE FEET LEASE START LEASE END BEGIN INCREASE MONTHLY PSF ANNUALLY PSF RECOVERY TYPE OPTIONSFamily Dollar 10,000 1/5/2001 6/30/2022 Current - $6,433 $0.64 $77,198 $7.71 NN+ 2 (5-Year)

Corporate Guaranty Option 1: $84,917/Yr

Option 2: $93,408/Yr

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FAMILY DOLLARFamily Dollar Stores, Inc. operates a chain of general merchandise retail discount stores primarily for low- and middle-income consumers in the United States. For more than 55 years, Family Dollar has been providing value and convenience to customers in easy-to-shop neighborhood locations. Family Dollar’s mix of name brands, and quality, private brand merchandise appeals to shoppers in more than 8,200 stores in rural and urban settings across 46 states. Helping families save on the items they need with everyday low prices creates a strong bond with customers who refer to their neighborhood store as “my Family Dollar.” Family Dollar, headquartered in Matthews, North Carolina, is a wholly-owned subsidiary of Dollar Tree, Inc. of Chesapeake, Virginia.

Company Type: ................................SubsidiaryParent: .................................... Dollar Tree, Inc.2016 Revenue: ............................$15.50 Billion2016 Net Income: ........................ $282 Million2016 Assets: ................................$15.90 Billion2016 Equity: ................................. $4.05 BillionRanking: ...........................#180 on Fortune 500

TENANT PROFILE

14 / FAMILY DOLLAR / CHAPARRAL, NEW MEXICO RENT ROLL / SRS NATIONAL NET LEASE GROUP

Price: ..........................................................................................................................................$908,212Net Operating Income: .................................................................................................................$77,198Cap Rate: ........................................................................................................................................ 8.50%Lease Type:........................................................................................................................................ NN+

Year Built: ......................................................................................................................................... 2001Rentable Area: ...........................................................................................................................10,000 SFLand Area: ................................................................................................................................ 0.80 AcresAddress: ..................................................................................300 Hermosa Drive, Chaparral, NM 88081

800+PROPERTIES CURRENTLY

REPRESENTED

$2.6B*TRANSACTION VALUE

600+CLIENTS REPRESENTED

IN 2016

250+BROKERS,

PROFESSIONALS,AND STAFF

#1LARGEST REAL ESTATE FIRM

EXCLUSIVELY DEDICATED TO RETAIL SERVICES IN NORTH AMERICA

20+OFFICES

*STATISTICS ARE FOR 2016.

SRS GLOBAL STATS

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