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Dollar General1 3 4 8 S C l e v e l a n d - M a s s i l l o n R d | A k r o n , O H O F F E R I N G M E M O R A N D U M

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E X E C U T I V E S U M M A R Y

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C a lv i n S h o r tFVP & Senior DirectorCalvin.Short@matthews.comDIR (949) 432-4506MOB (310) 567-3525LIC # 01927216 (CA)

J o s h B i s h o pVP & DirectorJosh.Bishop@matthews.comDIR (214) 692-2289MOB (315) 730-6228LIC # 688810 (TX)

c h a d k u r zSVP & National DirectorChad.Kurz@matthews.comDIR (214) 692-2927MOB (562) 480-2937LIC # 01911198 (CA)

L a u r e n c e B e r g m a nBroker of Record Lic. # 348029 ™

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• Ideal 1031 exchange property

• Premium Brick & EIFS construction building

• Brand new 2017 construction completed in October

• Long-term 15-year lease provides an investor with a reliable and steady source of income

• Absolute NNN lease; zero management responsibility

• Dense infill demographics

• 3-Mile population exceeds 26,300 residents

• 5-Mile population exceeds 70,800 residents

• Affluent neighborhood – Average household income exceeds $100,000 annually

• Estimated population growth of approximately 2.30%

• Average traffic in front of the store exceeds 12,000 vehicles daily

• All major retailers in the immediate trade area

• Akron is the 5th largest city in the state of Ohio and is a short 30-minute drive south of Cleveland

• Strong investment grade credit tenant; Standard & Poor’s rating of BBB, which was recently upgraded from its previous rating of BBB-

• Dollar General is the only dollar store with investment grade credit

• Dollar General currently has over 13,000 locations nationwide with plans to continue expanding over the next several years

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D o l l a r G e n e r a l1348 S Cleveland-Massillon RdAkron, OH 44321

List Price ...............................................................................................$1,840,000

CAP Rate - Current ......................................................................................6.25%

Gross Leasable Area ........................................................................± 10,640 SF

Lot Size ....................................................................... ± 1.37 Acres (59,860 SF)

Year Built ...........................................................................................................2017

Tenant Summary

Tenant Trade Name Dollar General

Type of Ownership Fee Simple

Lease Guarantor Corporate

Lease Type NNN

Roof and Structure Tenant Responsible

Lease Term 15 Years

Rent Commencement Date 10/13/2017

Lease Expiration Date 10/31/2032

Term Remaining on Lease ± 15 Years

Increases 10% After 5 Years In Extensions

Extensions Four, 5-Year Extensions

Annualized Operating Data

Dollar GeneralTerm Monthly Rent Annual Rent Rent PSF Cap Rate

10/13/2017 - 10/31/2032 $9,583.33 $114,999.96 $10.81 7.28%

Extension 1 $10,541.67 $126,500.04 $11.89 8.01%

Extension 2 $11,595.83 $139,149.96 $13.08 8.81%

Extension 3 $12,755.42 $153,065.04 $14.39 9.69%

Extension 4 $14,030.96 $168,371.52 $15.82 10.66%

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Dollar General is the fast-growing retailer that boasts roughly 13,000 discount stores in over 40 US states, mostly in the South, East, the Midwest, and the Southwest. It generates about 75% of its sales from consumables (including refrigerated, shelf-stable, and perishable foods) and another 10% from seasonal items. The stores also offer household products and apparel. Pricing its items at $10 or less, Dollar General targets low-, middle-, and fixed-income shoppers while selling brand-name products from manufacturers such as Procter & Gamble, Kimberly-Clark, Unilever, Kellogg’s, General Mills, Nabisco, Hanes, PepsiCo, and Coca-Cola. The retailer devotes its dollars to promotional circulars, targeted circulars that support new stores, television and radio advertising, in-store signage, and costs FVP & Senior Directord with the sponsorship of certain auto racing activities. Because Dollar General’s customers typically live in small towns, the company doesn’t allocate ample amounts of money to advertising. It has spent increasingly more on advertising in recent years, however, as the company expands its stores’ footprint.

STRATEGYWith its small-box stores typically measuring some 9,100 sq. ft, Dollar General targets cost-conscious consumers that prefer easier and quicker access to items than at super-sized competitors such as Wal-Mart and Costco (which are also often much farther away). Indeed, Dollar General’s strategy of catering to the value conscious has paid off big, both during and after the recession. The discount retailer boasted its 26th consecutive year of same-store sales growth in 2016 (ended January), attributable to its value and convenience proposition.

OPERATIONSDollar General’s massive stores network is supported by 13 distribution centers that are strategically located throughout its geographic footprint. Dollar General owns several trademarks, including Dollar General, Dollar General Market, Clover Valley, DG, DG Deals, Smart & Simple, trueliving, Forever Pals, I*Magine, OT Sport, and Sweet Smiles. It also boasts a few licenses, such as Bobbie Brooks and Fisher Price for clothing and Rexall for health and beauty aids.

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Dollar General Corporation (NYSE: DG)

Credit Rating (S&P)BBB

±13,000 Locations

± 113,400 Employees

Headquartered: Goodlettsville, TN

Founded: 1939

www.dollargeneral.com

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Property Name Dollar General

Property Address1348 S Cleveland-Massillon Rd

Akron, OH 44321

Site DescriptionNumber of Stories One

Year Built 2017

Gross Leasable Area (GLA) ± 10,640 SF

Lot Size ± 1.37 Acres (59,860 SF)

Type of Ownership NNN

Parking ± 36 Surface Spaces

Parking Ratio 3.38 : 1,000 SF

Landscaping Professional

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Representative Photo

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Representative Photo S u r r o u n d i n g T e n a n t s

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Akron is the fifth-largest city in the U.S. state of Ohio and is the county seat of Summit County. It is located on the western edge of the Glaciated Allegheny Plateau, approximately 39 miles south of Lake Erie. As of the 2015 Census Estimate, the city proper had a total population of 197,542, making it the 119th largest city in the United States.

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Akron is quickly becoming known as a global hub of innovation, attracting international technologies and companies looking for the convergence of higher education, healthcare, and public and private sector organizations and government. All with the willingness to experiment with new models and new alliances.

Area companies benefit from industry clusters that allow them to take advantage of common technologies, a shared labor pool, and close proximity to suppliers and buyers. Together, they cultivate new technologies critical to the city’s economic growth and help ensure that new businesses are given every opportunity to succeed. The City of Akron boasts a wide array of industry clusters, ranging from polymers, biomedical, information technology, and much more.

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POPULATION 1 Mile 3 Mile 5 Mile

2017 Estimate 2,516 26,383 70,884

2010 Census 2,484 25,786 70,446

Growth 2010-2017 1.27% 2.31% 0.62%

HOUSEHOLDS 1 Mile 3 Mile 5 Mile

2017 Estimate 1,025 10,931 30,468

2010 Census 978 10,345 29,362

Growth 2010-2017 4.81% 5.67% 3.77%

INCOME 1 Mile 3 Mile 5 Mile

2017 Est. Average Household Income

$100,818 $115,664 $95,949

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Cleveland a city in the U.S. state of Ohio and the county seat of Cuyahoga County, the state’s second most populous county. The city proper has a population of 388,072, making Cleveland the 51st largest city in the United States, and the second-largest city in Ohio after Columbus. Greater Cleveland ranked as the 32nd largest metropolitan area in the United States, with 2,055,612 people in 2016.

The city is located on the southern shore of Lake Erie, approximately 60 miles west of the Pennsylvania border. It was founded in 1796 near the mouth of the Cuyahoga River, and became a manufacturing center owing to its location on the lake shore, as well as being connected to numerous canals and railroad lines. Cleveland’s economy has diversified sectors that include manufacturing, financial services, healthcare, and biomedical. Cleveland is also home to the Rock and Roll Hall of Fame. Residents of Cleveland are called “Clevelanders”.

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Cleveland has been a key component to the growth of the Lake Erie region. Manufacturing was the main industry for Cleveland’s development, but the city has recently expanded their developments to keep their economy rising. Cleveland is the home to many large corporations such as Forest City Enterprises, Sherwin-Williams Company, KeyCorp and many others. The Glenn Research Center, one of NASA facility’s, is another large contributor to the city.

Cleveland is also known for their outstanding healthcare. The Cleveland Clinic is known as one of America’s best hospitals with some of the highest ratings. Other renowned health care facilities in the area include University Hospitals of Cleveland, recognized for its center for cancer treatment, MetroHealth medical center, and Case Western Reserve University, which focuses on biotechnology and fuel cell research. Several hospitals within the area have recently teamed up to build a large biotechnology research center and incubator. This will have a research campus that will focus on biotech startup companies.

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Recently, Cleveland has been exploring new sectors and creating new developments that will help boost their economy. Their newest development has been within the technology sector. They have been recruiting technology companies to the downtown office market. The main draw to this area is connections to high-speed fiber networks that run underneath the downtown streets in the Euclid Avenue area. They have also pulled in Cleveland State University to hire a technology transfer office that is designed to cultivate technology transfers from CSU research to different companies within the area. This connection is anticipated to stimulate technological growth in many different sectors.

Another large development is with the Lake Erie Energy Development Corporation (LEEDco). In 2009, this economic development corporation was created to build the first offshore freshwater wind project in North America. It will be seven miles offshore downtown Cleveland. Their overall goal is to generate 1000MW of wind energy by the year 2020. This has already brought a large amount of jobs to the area, specifically in engineering, manufacturing, installation, and maintenance.

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This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Dollar General located at 1348 S Cleveland-Massillon Rd Akron, OH 44321 (“Property”) . I t has been prepared by Matthews Retai l Advisors. This Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. The informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the Property. I t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews Retai l Advisors. The mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. Prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the Property, you agree:

1 . The Offer ing Memorandum and i ts contents are conf ident ia l ;

2 . You wi l l hold i t and treat i t in the str ictest of conf idence; and

3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the Sel ler.

Owner and Matthews Retai l Advisors expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the Property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the Property unless and unt i l a wr i t ten agreement for the purchase and sale of the Property has been ful ly executed and del ivered.

I f you wish not to pursue negot iat ions leading to the acquis i t ion of the Property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is Property including this Offer ing Memorandum.

A prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the Property, or informat ion provided herein or in connect ion with the sale of the Property shal l be l imited to those expressly provided in an executed Purchase Agreement and shal l be subject to the terms thereof. In no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews Retai l Advisors or any of their af f i l iates or any of their respect ive of f icers , Directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the Property.

This Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the Property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the Property s ince the date this Offer ing Memorandum.

C O N F I D E N T I A L I T Y & D I S C L A I M E R S TAT E M E N T

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BROKER OF RECORD

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Dollar General1 3 4 8 S C l e v e l a n d - M a s s i l l o n R d | A k r o n , O H 4 4 3 2 1

J o s h B i s h o p

VP & Director

Josh.Bishop@matthews.comDIR (214) 692-2289MOB (315) 730-6228LIC # 688810 (TX)

c h a d k u r z

SVP & National Director

Chad.Kurz@matthews.comDIR (214) 692-2927MOB (562) 480-2937LIC # 01911198 (CA)

C a lv i n S h o r t

FVP & Senior Director

Calvin.Short@matthews.comDIR (949) 432-4506MOB (310) 567-3525LIC # 01927216 (CA)

L a u r e n c e B e r g m a nBroker of Record Lic. # 348029

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