Part of the CBRE affiliate network

CASSELWOOD SHOPPING CENTERSOUTHEAST CORNER PAULDING RD. & HESSEN CASSEL RD.Fort Wayne, IN 46806

OFFERING MEMORANDUM

Investment Properties

AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE Sturges. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner or CBRE Sturges, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE Sturges. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE Sturges.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return the confidentiality Agreement (provided separately), filled out and signed, to CBRE Sturges.

© 2017 Sturges, LLC. The information contained in this document has been obtained from sources believed reliable. While Sturges, LLC does not doubt its accuracy, Sturges, LLC has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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.

Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

C A S S E L W O O D S H O P P I N G C E N T E R

CONTACT US

TABLE OF CONTENTS

04 EXECUTIVE SUMMARY

06 PROPERTY OVERVIEW

13 MARKET SUMMARY

16 FINANCIAL ANALYSIS

BRAD STURGESPresident+1 260 424 8448brad.sturges@cbre-sturges.comwww.cbre.com/brad.sturges

CBRE | STURGES202 W. Berry Street, Suite 800Fort Wayne, Indiana 46802+1 260 424 8448www.cbre.com/fortwayne

EXECUTIVE SUMMARY

C A S S E L W O O D S H O P P I N G C E N T E R

5E X E C U T I V E S U M M A R Y

THE OFFERING

CBRE | Sturges has been appointed the exclusive agent for the sale and leasing of this grocery-anchored investment property. Both Save-A-Lot and Family Dollar have anchored this 40,533 SF property since the building was redeveloped in 2008. Over 50,000 households are within a 5-mile radius of the shopping center, and it is minutes from thriving Southtown Centre.

HIGHLIGHTS

• 71% Occupied

• Vacant units have a new roof andHVAC units

• Save-A-Lot boasts strong store salesat this location

• Nearly 3 acres of excess land to bedeveloped or sold adjacent to newParkview Health medical clinic

PRICING

Offering Price$2,700,000

Year 1 Cap Rate (2018)7.0%

Stabilized NOI (90% Occupancy)$282,234

Stabilized Cap Rate10.5%

PROPERTY OVERVIEW

C A S S E L W O O D S H O P P I N G C E N T E R

7P R O P E R T Y O V E R V I E W

ACCESSFull Access from both E. Paulding Rd. and Hessen Cassel Rd.

SIGNAGE Pylon sign at Paulding St. entrance with Tenant list; Tenant exterior signage

PARKINGSurface lot, 300 spaces

CONSTRUCTION TYPEMetal

WATER & SEWER SERVICE City of Fort Wayne

ELECTRICAL SERVICEAmerican Electric Power

GAS SERVICENIPSCO

PROPERTY DESCRIPTION

Casselwood Shopping Center consists of over 40,000 rentable square feet and is located at the southeast corner of Paulding Rd. and Hessen Cassel Rd. in Fort Wayne, Indiana.

ADDRESS3200 - 3312 E. Paulding Rd.Fort Wayne (Allen County), IN 46816

LAND AREA9.55 acres (3 parcels combined, includes excess land to the east of the center)

RENTABLE AREA SQUARE FEET40,533 rentable square feet

OCCUPANCY71%

YEAR BUILT1968, complete overhaul renovation done in 2008

FLOORS1

ZONINGSC, Shopping Center

8

FLOOR PLAN

SAVE A LOT18,263 SF

FAMILY DOLLAR9,230 SF

BOOST MOBILE1,360 SF

VACANT2,465 SF

VACANT5,990 SF

VACANT1,638 SF

VACANT1,587 SF

C A S S E L W O O D S H O P P I N G C E N T E R

9P R O P E R T Y O V E R V I E W

SITE PLAN

AERIAL IMAGE

C A S S E L W O O D S H O P P I N G C E N T E R

11P R O P E R T Y O V E R V I E W

PROPERTY PHOTOS

12

SAVE-A-LOT

Save-A-Lot is an American discount supermarket chain headquartered near St. Louis, MO. The

chain utilizes a limited assortment concept in its production selection, resulting in an advertised 40%

price advantage over conventional supermarkets. It was founded in 1977 and is a subsidiary of Onex

Corporation (TSX: ONEX). It comprises more than 5,900 stores across 36 states. A majority of Save-A-Lot

stores are owned and operated by independent licensees.

The Casselwood Save-A-Lot is owned and operated by TWF Holding Company Inc., which currently owns

and operates 12 Save-A-Lot stores throughout Indiana and Ohio.

FAMILY DOLLAR

Family Dollar Stores, Inc. is an American variety store chain founded in 1959 with over 8,000

locations in 46 states. It is the second largest retailer of its type in the United States and is headquartered

in near Charlotte, North Carolina. In 2015, Family Dollar was acquired by Dollar Tree (NASDAQ: DLTR)

and currently operates a subsidiary.

BOOST MOBILE

Boost Mobile is a wireless telecommunications carrier offering prepaid, no-contract, unlimited cell

phone plans and phones for purchase. Boost Mobile was founded in 2000 in Australia and New Zealand

and brought to the United States in 2001. Boost Mobile in the United States is owned and operated by

Boost Worldwide, Inc., a Sprint Corporation subsidiary.

TENANT PROFILES

MARKET SUMMARY

14

MARKET SUMMARY

Casswelwood Shopping Center is situated in the southeast area of Fort Wayne, Indiana. The population within 3 miles of the shopping center is over 50,000. Nearby businesses include Mexican restaurants, apartment complexes, a gas station, a Wells Fargo bank branch, a public library, a small barber shop, and numerous churches.

Fort Wayne is Indiana’s second-largest city, with a population of more than 260,000 people. Positioned 18 miles west of the Ohio border and 50 miles south of Michigan, Fort Wayne boasts a vibrant arts community, thriving downtown, and high quality of life.

With a rich history in engineering and entrepreneurship and a deep-seeded Midwestern commitment to service, Fort Wayne’s economy is bustling with successful small businesses, established corporations, and foreign direct investment. As a state, Indiana ranked first in the nation for cost of doing business and infrastructure quality (CNBC 2016).

Businesses in Allen County have a one-day drive to more than one-fourth of the U.S. population and one-fifth of the Canadian population. More than 100 trucking companies serve Allen County using major interstates, U.S. highways, and state roads that cross the county. The Fort Wayne International Airport provides scheduled flights to major Midwestern and Southern cities. Fort Wayne is just over two hours from the Port of Indiana-Burns Harbor on Lake Michigan and the Port of Toledo on Lake Erie.

For more information on Fort Wayne, please see the Community Profile at greaterfortwayneinc.com.

Indiana ranked first in the

nation for the cost of doing

business and infrastructure

quality from CNBC in

2016.

Source: Nielsen, 2017

ESTIMATED DEMOGRAPHICS 1 MILE 3 MILES 5 MILES

Population 9,438 56,004 132,046

No. Households 3,244 20,381 51,559

C A S S E L W O O D S H O P P I N G C E N T E R

15M A R K E T S U M M A R Y

LOCAL MAPS & TRAFFIC COUNTS

TRAFFIC COUNTS AADT

E. Paulding Rd (East) 5,600

Hessen Cassel Rd. (North) 8,800

E. Paulding Rd. (West) 9,200

Hessen Cassel Rd. (South) 5,800Source: City of Fort Wayne

CASSELWOOD SHOPPING CTR.

FOR SALE

FINANCIAL ANALYSIS

C A S S E L W O O D S H O P P I N G C E N T E R

17F I N A N C I A L A N A L Y S I S

PROPERTY SUMMARY

Property Name Casselwood Shopping Center Price 2,700,000$ Property Address 3200 Paulding Road Price/RSF 66.61$

Current NOI 188,754$ Current Occupancy 71% Year 1 Cap Rate 7.0%Number of Buildings 1 Stabilized NOI 282,234$ Number of Units 7 Stabilized Cap Rate 10.5%Zoning SCYear Built (renovated) 2008Total Land Area (Acres) 8.30 Acres Loan Principal (70% LTV, 1.25+DCR) 1,890,000$ Rentable SF 40,533 Interest Rate 5.00%

Loan Term 10Amortization Period (Years) 20LTV Ratio 70%Pro forma Debt Coverage Ratio 1.81Annual Debt Service 149,678$ Monthly Debt Service 12,473$

Purchase Price 2,700,000$ Equity Requirement 810,000 Average IRR (10 Year Hold) 18.2%

PROPERTY SUMMARY PRICING SUMMARY

NEW FINANCING SUMMARYIncl 3.08 acres in excess land.

For full financial analysis, please sign Confidentiality Agreement and return to Broker.

CONTACT US

Part of the CBRE affiliate network

BRAD STURGESPresident+1 260 424 8448brad.sturges@cbre-sturges.comwww.cbre.com/brad.sturges

CBRE | STURGES202 W. Berry Street, Suite 800Fort Wayne, Indiana 46802+1 260 424 8448www.cbre.com/fortwayne

Investment Properties