3301-3321 SOUTH ELM PLACE | BROKEN ARROW, OK

OFFERING MEMORANDUM

V A N D E V E R EAST S H O P P I N G C E N T E R

EXECUTIVE SUMMARY

CBRE, Inc. is proud to present the opportunity to acquire Vandever East Shopping Center (“Vandever”), a 38,000 square foot, 91% leased, neigh-borhood shopping center located in the heart of Broken Arrow, Oklahoma.

Vandever East Shopping Center is a neighborhood center located in the central portion of Broken Arrow at the intersection of East 101st and Elm Street. Surrounded by residential neighborhoods, Vandever is well positioned on the north east corner. Elm street is a primary north / south arterial street connecting south and north Broken Arrow. Vandever is 1.5 miles north of the Creek Turnpike Expressway and is in close proximity to NSU College and some of Broken Arrow’s largest employers including FedEx and Flight Safety.

The intersection is home to such retailer as Ross Dress for Less, Dollar Store, Stage, Harbor Freight Tools, American Freight Furniture & Mattress.

PROPERTY SUMMARY

ASKING PRICE$2,850,000

ADDRESS3301-3321 S Elm Pl

RENTABLE AREA38,034± SF

SITE AREA3.79 Acres

YEAR BUILT1978

PERCENTAGE LEASED91.3%

IN-PLACE CAP RATE8.5%

IN-PLACE NOI$242,235

NUMBER OF STORIES1

TOTAL PARKING STALLS165

PARKING RATIO4.5/1,000

AVAILABLEPad Site

INVESTMENT HIGHLIGHTS

• 91.3% occupancy

• Pad site available for future development

• National anchor tenant American Freight

• Stable net operating income

• Located in central Broken Arrow surrounded by

residential

• Excellent ingress/egress with 6 convenient points of

access

• 2 prominent pylon signs

• Mature neighborhoods

• Elm Street is a primary north / south arterial street

connecting to north Broken Arrow and HWY 51

• Located 1.5 mile north of the Creek Turnpike Expressway

AMENITY MAP

Broken ArrowFreshman Academy

INTERSECTION AERIAL

S ELM PL - 1

6,6

57 V

PD

E 101ST ST - 12,721 VPD

200-A

600

200-B

200-C

300

500

650

700

800

100

100 American Freight 18,487200-A Vacant 1,748200-B Yaya 1,800200-C Family Drug 975300 Style 101 Salon 2,106500 USPT 4,453600 Vacant 1,550650 Bright Star 1,500700 Advanced America 2,107800 BA Family Drug 3,308

SUITE TENANT SF

Pylon

Pylon

Not Included

Available Pad Site

100 American Freight 18,487200-A Vacant 1,748200-B Yaya 1,800200-C Family Drug 975300 Style 101 Salon 2,106500 USPT 4,453600 Vacant 1,550650 Bright Star 1,500700 Advanced America 2,107800 BA Family Drug 3,308

SUITE TENANT SF

BROKEN ARROW RETAIL MARKET OVERVIEW

• The Broken Arrow retail market continues to show signs of strength in 2019 and is slated for further growth in 2020 and beyond. o Retailers at the state and national level are attracted to Broken Arrow due to the population growth seen in the city in the last decade. Accord-ing to the Broken Arrow Chamber of Commerce, the trade area population for the city is equal to the population of the rest of Tulsa’s suburbs combined. This resulted in over $1.5 billion in taxable goods in 2018. o According to a Broken Arrow economic development study released in 2019, the Broken Arrow primary trade area consists of over 160,000 potential customers resulting in a total purchasing power of nearly $8.5 billion.

• Despite the changing dynamics of the retail industry, the occupancy levels in Broken Arrow have been kept afloat by a wave of non-traditional tenants. Tenants such as gymnasiums and similar healthcare-oriented retailers have buoyed vacancies by taking up multi-tenant space that had been previously vacated by big box retailers. o The occupancy rate for the Broken Arrow retail market was 92.2% in October 2019. o There has been a slight increase in asking rents since 2019 began, with average rates falling between a range of $10.25 - $11.00 per sq. ft. • Recent Developments: o The Shops at Aspen Creek 950,000 sq. ft. development of retail, medical, and multifamily space. Mixed-use development that will include large anchor tenants as well as entertainment destinations. New strip center anchored by Starbucks finished construction earlier in Summer 2019. o Stonewood Hills Located on over 400 acres on the Broken Arrow Expressway, the site features Bass Pro Shops along with several hotels. Additional hotel development is underway, which will also feature a 35,000 sq. ft. conference center. o The Rose District Mixed-use district featuring several entertainment and dining options. The district features a performing arts center and a variety of local retailers. Over 70 plus locations to eat and shop.

2019 DEMOGRAPHICS

POPULATION

1 Mile 11,799

3 Miles 58,602

5 Miles 130,425

DAYTIME POPULATION

1 Mile 8,757

3 Miles 46,409

5 Miles 117,929

HOUSEHOLDS

1 Mile 4,502

3 Miles 21,507

5 Miles 48,443

AVERAGE HOUSEHOLD INCOME

1 Mile $77,191

3 Miles $82,622

5 Miles $88,140

AFFILIATED BUSINESS DISCLOSURE

CBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or repre-sent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the prop-erty described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affil-iates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).

CONFIDENTIALITY AGREEMENT

Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.

DISCLAIMER

This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memo-randum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on for-ward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.

The Owner expressly reserves 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 at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement deliv-ered by the Owner.

INVESTMENT CONTACTS

JIM BROWN, CCIMSenior Associate918 392 7215jim.brown@cbre.com

BEN GANZKOW, CCIMSenior Associate918 392 7262ben.ganzkow@cbre.com