Vienna Forest Villas OM

VIENNA FOREST VILLAS MIDDLETOWN, OH | OM | 2026

table of

CONTENTS

2

rent competitors

08

financials

16

local market

24

LEAD AGENTS Austin Sum Senior Director Investments Cincinnati Office D. 513.878.7747 austin.sum@marcusmillichap.com

Jordan Dickman Managing Director Investments Cincinnati Office D. 513.878.7735 jordan.dickman@marcusmillichap.com

Nick Andrews Managing Director Investments Cincinnati Office D. 513.878.7741 nicholas.andrews@marcusmillichap.com

3

A Legacy of Success, Built for the Future For more than 50 years, Marcus & Millichap has worked tirelessly to help our clients create and preserve wealth through commercial real estate investment sales as well as debt and equity advisory. Since our founding in 1971, we have grown to more than 80 offices throughout the United States and Canada, including twelve offices here in the Midwest. We also assembled the industry’s largest and most qualified team of specialists to help provide real estate solutions that match your unique investment needs. Connect with an advisor today.

$ 49. 6 B

7,836

$ 1 0. 9 B

1,249

Value Of Recently Closed Transactions

Closed Sales In Most Recent Year

Total Value Of Recent Listings

Closed Financings In Most Recent Years

Sign up for MyMMI to receive property matching notifications of new investment opportunities We have the industry’s largest, most diverse collection of exclusive commercial real estate listings. Start receiving custom property alerts today.

4

Calabasas, California

|

HQ

80+

|

Offices

2,500

Sign up

|

Employees

YOUR TEAM

CORPORATE SUPPORT

Jordan Dickman

Peter Standley

Manag i n g D i re c to r Inve s tments

Nick Andrews Manag i n g D i re c to r Inve s tments

Austin Sum S e nior D i re c to r I nve s tments

N ati o n al D i re c to r

N ati o n al Mul ti H o usi n g G ro up

Michael Glas s

S e n i o r V i ce Pre si d en t Mi d w e st D i v i si o n Man age r N ati o n al D i re c to r, Man ufac ture d Ho m e C o m m u n i t i e s G ro u p

Austin Hall As so c i ate I nve s t m e nts

Chuck C ombs As so c i ate I nve s t m e nts

BROKER SUPPORT

OUR LOCATION

S am Petrosino Va lu ati o n & Re s e a rch

Brett Martin I ntern a l Acco u n ta n t

Alex Papa Marke t i n g C o o rd i n ator

3 12 WALNUT STREET, CINCINNATI, OHIO

5

VIENNA FOREST VILLAS

6

107

100%

Unit Count

Occupancy

1993 Year Built

496 Bavarian St, Middletown Ohio

103,000 Rentable SqFt

SUMMARY

UNIT MIX SUMMARY CURRENT

MARKET RENTS

PRO FORMA RENTS

7

local com

Local competitors analyzes similar propertie

ment compares. It looks at factors such as ren

ings. By understanding local competition, inv

relative to others and identify opportunities f

8

mpetitors

es in the area to help explain how the rent for this invest-

ntal rates, amenities, and occupancy levels of nearby build-

vestors can better assess how our property’s rent stands

for improvement or differentiation.

01 9

rent matrix - one bedroom

Bavairan Woods | $914 Echo Ridge | $1,315 Subject | $853

VIENNA FOREST VILLAS Units Year Built Occupancy Unit Mix One Bed Two Bed Three Bed 10

# of units 20 Units 44 Units 43 Units

Square Feet 676 SF 900 SF 1,160 SF

Avg. Eff. Rent $852 $1,015 $1,420

107 1993 100% Rent per SF $1.26 $1.13 $1.22

One Bedroom Property

Year Built

Total Units

# 1BR

Avg SF

Avg Rent

Rent/SF

Echo Ridge Apartments

2024

319

140

631

$1,315

$2.08

Subject - Pro Forma

1993

107

20

676

$1,200

$1.78

Bavarian Woods Apartments

1974

259

120

700

$914

$1.31

Subject - Avg Effective

1993

107

20

676

$853

$1.26

Market Average

1999

183

75

671

$1,070

$1.60

rent matrix - two bedroom

Bavairan Woods | $1,254 Echo Ridge | $1,755 Subject | $1,016 Lefferson Quarters | $1,050

Nicholas Place | $1,525

VIENNA FOREST VILLAS Units Year Built Occupancy Unit Mix One Bed Two Bed Three Bed 12

# of units 20 Units 44 Units 43 Units

Square Feet 676 SF 900 SF 1,160 SF

Avg. Eff. Rent $852 $1,015 $1,420

107 1993 100% Rent per SF $1.26 $1.13 $1.22

Two Bedroom Property

Year Built

Total Units

# 2BR

Avg SF

Avg Rent

Rent/SF

Echo Ridge Apartments

2024

319

127

1,039

$1,755

$1.69

Nichalas Place Apartments

2016

216

108

1130

$1,525

$1.35

Subject - Pro Forma

1993

107

44

900

$1,500

$1.67

Bavarian Woods Apartments

1974

259

128

1120

$1,254

$1.12

Lefferson Quarters Apartments

1995

90

62

819

$1,050

$1.28

Subject - Avg Effective

1993

107

44

900

$1,016

$1.13

Market Average

1999

183

86

985

$1,350

$1.37

rent matrix - two bedroom

Bavairan Woods | $1,394 Echo Ridge | $1,895 Subject | $1,421 Lefferson Quarters | $1,300

Nicholas Place | $1,775

VIENNA FOREST VILLAS Units Year Built Occupancy Unit Mix One Bed Two Bed Three Bed 14

# of units 20 Units 44 Units 43 Units

Square Feet 676 SF 900 SF 1,160 SF

Avg. Eff. Rent $852 $1,015 $1,420

107 1993 100% Rent per SF $1.26 $1.13 $1.22

Three Bedroom Property

Year Built

Total Units

# 2BR

Avg SF

Avg Rent

Rent/SF

Echo Ridge Apartments

2024

319

52

1,240

$1,895

$1.53

Nichalas Place Apartments

2016

216

108

1540

$1,775

$1.15

Subject - Pro Forma

1993

107

43

1160

$1,750

$1.51

Subject - Avg Effective

1993

107

43

1160

$1,421

$1.22

Bavarian Woods Apartments

1974

259

11

1480

$1,394

$0.94

Lefferson Quarters Apartments

1995

90

28

896

$1,300

$1.45

Market Average

1999

183

48

1,246

$1,589

$1.28

the financ

The financial section outlines the valuation p

financial metrics. This includes an analysis of

rates to determine fair market value. Addition

and investment returns are assessed to prov

16

cials

process, detailing how the asset is priced based on key

f income streams, operating expenses, and capitalization

nally, factors such as projected cash flow, debt structure,

vide a comprehensive financial overview.

02 17

unit mix breakdown AV E R A G E E F F E CT I V E

MARKET

P RO J E C T E D

UNIT TYPE

N O . O F U N I TS

R E N TA B L E S F

TOTA L S F

RENT/UNIT

RENT/SF

TOTA L R E N T P OT E N T I A L

One Bedroom 1BR/1BA Totals / Wtd. Averages

20 Units 20 Units

676 SF 676 SF

13,520 SF 13,520 SF

$852.80 $852.80

$1.26 SF $1.26 SF

$17,056 $17,056

$975.00 $975.00

$1.44 SF $1.44 SF

$19,500 $19,500

$1,200.00 $1,200.00

$1.78 SF $1.78 SF

$24,000 $24,000

Two Bedroom 2BR/2BA Totals / Wtd. Averages

44 Units 44 Units

900 SF 900 SF

39,600 SF 39,600 SF

$1,015.50 $1,015.50

$1.13 SF $1.13 SF

$44,682 $44,682

$1,050.00 $1,050.00

$1.17 SF $1.17 SF

$46,200 $46,200

$1,500.00 $1,500.00

$1.67 SF $1.67 SF

$66,000 $66,000

Three Bedroom 3BR/2.5BA Totals / Wtd. Averages

43 Units 43 Units

1,160 SF 1,160 SF

49,880 SF 49,880 SF

$1,420.79 $1,420.79

$1.22 SF $1.22 SF

$61,094 $61,094

$1,600.00 $1,600.00

$1.38 SF $1.38 SF

$68,800 $68,800

$1,750.00 $1,750.00

$1.51 SF $1.51 SF

$75,250 $75,250

Summary One Bedroom Two Bedroom Three Bedroom Totals / Wtd. Averages

20 Units 44 Units 43 Units 107 Units

676 SF 900 SF 1,160 SF 963 SF

13,520 SF 39,600 SF 49,880 SF 103,000 SF

$852.80 $1,015.50 $1,420.79 $1,147.96

$1.26 $1.13 $1.22 $1.19 SF

$17,056 $44,682 $61,094 $122,832

$975.00 $1,050.00 $1,600.00 $1,257.01

$1.44 SF $1.17 SF $1.38 SF $1.31 SF

$19,500 $46,200 $68,800 $134,500

$1,200.00 $1,500.00 $1,750.00 $1,544.39

$1.78 SF $1.67 SF $1.51 SF $1.60 SF

$24,000 $66,000 $75,250 $165,250

UNIT DISTRIBUTION

18

UNIT RENTS

RENT/UNIT

RENT/SF

TO TA L R E N T POTENTIAL

RENT/UNIT

RENT/SF

TO TA L R E N T POTENTIAL

OCCUPANCY

19

EXPENSE

INCOME

income & expenses GROSS POTENTIAL RENT All Units at Market Rent Gain (Loss) to Lease GROSS SCHEDULED RENT Total Other Income GROSS POTENTIAL INCOME Physical Vacancy Bad Debt EFFECTIVE GROSS INCOME NON-CONTROLLABLE Real Estate Taxes 2025 Taxes Total Real Estate Taxes Insurance Utilities Electric Electric Vacant Gas Water & Sewage Trash Removal Utilities Total Non-Controllable Contract Services Snow Removal Landscaping/Grounds Pest Control Contract Services Repairs & Maintenance Marketing & Promotion Labor Payroll Taxes & Benefits General & Administrative Management Fee Replacement & Reserves Total Controllable TOTAL EXPENSES NET OPERATING INCOME

20

T12 RENT ROLL: AS OF MARCH 31, 2026 INCOME AND EXPENSES: JANUARY 2025 - DECEMBER 2025

$1,614,000 ($140,016) $1,473,984 $67,521 $1,541,505 ($112,938) $0 $1,428,566

RR RR T12 Economic T12

% of GPR

7.66% 0.00% 83.66%

Per Unit 15,084 (1,309) 13,776 631 14,407 (1,055) 0 13,351

$1,614,000 ($140,016) $1,473,984 $67,521 $1,541,505 ($112,938) $0 $1,428,566

% of EGI 8.72% 8.72% 2.84%

Per Unit 1,165 1,165 380

$124,616 $124,616 $69,550

8.68% 4.58%

$124,616 $124,616 $40,634

Auditor

$5,992 $3,129 $3,200 $112,384 $18,097 $142,802 $308,052

T12 T12 T12 T12 T12

0.42% 0.22% 0.22% 7.87% 1.27% 10.00% 21.56%

56 29 30 1,050 169 1,335 2,879

$5,992 $3,129 $3,200 $112,384 $18,097 $142,802 $336,968

$8,165 $26,364 $6,762 $41,290 $152,770 $1,063 $170,982 $27,093 $23,173 $70,170 $0 $486,540 $794,592 $633,974

T12 T12 T12

0.57% 1.85% 0.47% 2.89% 10.69% 0.07% 11.97% 1.90% 1.62% 4.91% 0.00% 34.06% 55.62% 44.38%

76 246 63 386 1,428 10 1,598 253 217 656 0 4,547 7,426 5,925

$5,350 $26,750 $3,745 $35,845 $69,550 $10,700 $107,000 $16,050 $10,700 $57,143 $32,100 $339,088 $676,055 $752,511

T12

T12 T12 T12 T12 T12 T12

0 ) 4 1 5 ) 0 6

T12 BROKER ADJUSTED EXPENSES

YEAR 2 STABILIZED

T12 Economic T12

7.66% 0.00% 83.66%

Per Unit 15,084 (1,309) 13,776 631 14,407 (1,055) 0 13,351

Auditor

8.72% 8.72% 4.87%

% of EGI 1,165 1,165 650

$127,108 $127,108 $70,941

8.90% 8.90% 4.97%

% of EGI 1,188 1,188 663

RR RR

% of GPR 8.68% 4.58%

$1,983,000 ($39,660) $1,943,340 $114,952 $2,058,292 ($97,167) ($9,717) $1,941,692

5.00% 0.50% 91.96%

% of GPR 18,533 (371) 18,162 1,074 19,236 (908) (91) 18,147

2.04% 5.92%

6 6 0

Broker Adjusted

0 4 7

T12 T12 T12 T12 T12

0.42% 0.22% 0.22% 7.87% 1.27% 10.00% 23.59%

56 29 30 1,050 169 1,335 3,149

$6,234 $3,256 $3,329 $116,924 $18,828 $148,571 $346,620

0.44% 0.23% 0.23% 8.18% 1.32% 10.40% 24.26%

58 30 31 1,093 176 1,389 3,239

Broker Adjusted Broker Adjusted Broker Adjusted

0.37% 1.87% 0.26% 2.51% 4.87% 0.75% 7.49% 1.12% 0.75% 4.00% 2.25% 23.74% 47.32% 52.68%

50 250 35 335 650 100 1,000 150 100 534 300 3,169 6,318 7,033

$5,457 $27,285 $3,820 $36,562 $70,941 $10,914 $109,140 $16,371 $10,914 $77,668 $32,742 $365,252 $711,872 $1,296,056

0.28% 1.41% 0.20% 2.56% 3.65% 0.56% 5.62% 0.84% 0.56% 4.00% 1.69% 19.49% 36.66% 66.75%

51 255 36 342 663 102 1,020 153 102 726 306 3,414 6,653 12,113

8

0 0 5 5 0 0 0 0 0 3 0 8 5 1

Broker Adjusted Broker Adjusted Broker Adjusted Broker Adjusted Broker Adjusted Broker Adjusted Broker Adjusted

21

INCOME

cash flow GROSS POTENTIAL RENT All Units at Market Rent Gain (Loss) to Lease GROSS SCHEDULED RENT

EXPENSE

TOTAL OTHER INCOME

GROSS POTENTIAL INCOME Physical Vacancy Bad Debt Concessions Allowance EFFECTIVE GROSS INCOME Real Estate Taxes Insurance Utilities Contract Services Repairs & Maintenance Marketing & Promotion Labor General & Administrative Management Fee Replacement & Reserves TOTAL EXPENSES NET OPERATING INCOME

22

T12

T12

YR 1 YE APR-2027

YR 2 YE MAR-2028

YR 3 YE MAR-2029

YR 4 YE MAR-2030

YR 5 YE MAR-2031

YR 6 YE MAR-2032

$1,614,000 ($140,016) $1,473,984 $67,521 $1,541,505 ($112,938) $0 $0 $1,428,566 $190,851 $40,634 $142,802 $41,290 $152,770 $1,063 $170,982 $23,173 $70,170 $0 $860,828

$1,614,000 ($140,016) $1,473,984 $67,521 $1,541,505 ($112,938) $0 $0 $1,428,566 $190,851 $69,550 $142,802 $35,845 $69,550 $10,700 $107,000 $10,700 $57,143 $32,100 $742,291

$1,890,750 ($75,630) $1,815,120 $112,698 $1,927,818 ($145,210) ($9,076) ($9,076) $1,764,458 $190,851 $69,550 $145,658 $35,845 $69,550 $10,700 $107,000 $10,700 $77,966 $32,100 $765,971

$1,983,000 ($39,660) $1,943,340 $114,952 $2,058,292 ($97,167) ($9,717) ($9,717) $1,941,692 $194,668 $70,941 $148,571 $36,562 $70,941 $10,914 $109,140 $10,914 $77,668 $32,742 $779,432

$2,042,490 ($40,850) $2,001,640 $117,251 $2,118,892 ($100,082) ($10,008) ($10,008) $1,998,793 $198,562 $72,360 $151,543 $37,293 $72,360 $11,132 $111,323 $11,132 $79,952 $33,397 $795,752

$2,103,765 ($42,075) $2,061,689 $119,596 $2,181,286 ($103,084) ($10,308) $0 $2,067,893 $202,533 $73,807 $154,574 $38,039 $73,807 $11,355 $113,549 $11,355 $82,716 $34,065 $812,832

$2,166,878 ($43,338) $2,123,540 $121,988 $2,245,528 ($106,177) ($10,618) $0 $2,128,734 $206,584 $75,283 $157,665 $38,800 $75,283 $11,582 $115,820 $11,582 $85,149 $34,746 $829,868

$2,231,884 ($44,638) $2,187,246 $124,428 $2,311,674 ($109,362) ($10,936) $0 $2,191,376 $210,715 $76,789 $160,818 $39,576 $76,789 $11,814 $118,137 $11,814 $87,655 $35,441 $847,268

$633,974

$752,511

$1,064,723

$1,228,495

$1,269,277

$1,321,297

$1,365,102

$1,410,344

other income breakdown T12 OTHER INCOME

RUBS Reimbursement Fee

$47,139

T12

3.20%

441

Late Fee

$7,790

T12

0.53%

73

Pet Rent

$5,544

T12

0.38%

52

Application Fee Income

$3,115

T12

0.21%

29

Garage Income

$2,502

T12

0.17%

23

Transfer Fee

$950

T12

0.06%

9

Pet Fee-Non Refundable

$331

T12

0.02%

3

NSF Fees Collected

$150

T12

0.01%

1

Total Other Income

$67,521

4.58%

631

Property Address 330 Bavarian St 496 Bavarian St Total

Parcel ID Q6541028000104 704351006

Acres 2.91 3.40 6.31

Tax Breakdown

Market Value $3,777,490 $2,126,120 $5,903,610

Assessed Value $1,322,120 $744,142 $2,066,262

Tax Rate 60.929229

Taxes Payable $80,555.76 $44,059.82 $124,615.58

Land Use Code 403 C - APARTMENTS 40 OR MORE RENTAL UNITS 403 C - APARTMENTS 40 OR MORE RENTAL UNITS

23

local mark

The local market section analyzes the sur

hance the value of this investment. It consid

nomic growth, infrastructure developments

local market dynamics, investors can gau

tion, and overall attractiveness, helping to

24

ket

rrounding area to highlight key factors that en-

ders elements such as demographic trends, eco-

s, and nearby amenities. By understanding the

uge the area’s demand, potential for apprecia-

04

o position the property for long-term success.

25

middletown, oh Middletown is a city located in Butler and Warren counties in the southwestern part of Ohio. The population as of the 2020 cenDOWNTOWN DAYTON

sus was 50,987 and it is part of the Cincinnati metropolitan area, located 29 miles northeast of Cincinnati and 20 miles southwest

32 MINS (26.1MI)

of Dayton.

Formerly in Lemon, Turtlecreek, and Franklin townships, MiddleMIDDLETOWN

town was incorporated by the Ohio General Assembly on February 11, 1833, and became a city in 1886. The city was the home of AK Steel Holding Corporation (formerly Armco), a major steel works founded in 1900. Although offices were moved to nearby

42 MINS (37.8MI)

West Chester Township in 2007, the AK Steel factory is still in Middletown. Middletown is also home to Hook Field Municipal Airport and a regional campus of Miami University is located in Middletown. In 1957, Middletown was designated as an All-America City. Middletown offers incoming investors a diversified econ-

DOWNTOWN CINCINNATI

omy conveniently located between Cincinnati and Dayton right off Interstate 75.

26

employers in the news Employer

Cleveland-Cliffs Middletown Works • $1.8 billion in upgrades that will add jobs and ensure the long term stability of its business • $500 million in federal grants • $1.3 billion in its own funds • Will secure 2,500 jobs at this location

Industry

# of Employees

Cleveland-Cliffs

Manufacturing

2500

Carington Health

Health Care

2000

Middletown City Schools

Education

900

Atrium Medical Center

Health Care

764

Environmental Services

375

Education

360

Cohen Recycling • Cohen Recycling lays out plan for new Hamilton recycling facility

Aeronca

Manufacturing

350

Middletown River Centre • Signs Multiple businesses in $25M upgrade

City of Middletown

Government

253

Vasanth Tech • Global engineering firms purchases 5 acres to expand operations

Akers Packaging Services

Manufacturing

200

Cohen Recycling Abilities First Foundation

Kettering Health Middletown • Nationally recognized for high-quality stroke care Atrium Medical Center • Middletown Atrium Hospital ranks among top 5 percent in nation

27

demographics

28

Population

1 Mile

3 Mile

5 Mile

2023

9,949

47,483

77,381

2028

10,173

5,1377

88,040

Population Growth 2010-2023

0.7

0.5

0.8

Projected Population Growth 2023-2028

0.5

0.4

0.6

2023 Average Age

37.7

39.5

39.3

Owner Occupied Households

1,994

11,948

22,206

Renter Occupied Households

2,427

93,27

12,758

3 mile 1 mile

RENTAL RATES Y-O-Y ROLLING CHANGE VS MARKET 5 mile

OCCUPANCY RATE VS MARKET

29

regional employers

Cleveland-Cliffs is the largest flat-rolled steel producer in North

Deceuninck North America (part of the global Deceuninck Group)

America. We are vertically integrated from mined raw materials,

is a fully integrated design and PVC extrusion company that pro-

direct reduced iron, and ferrous scrap to primary steelmaking and

duces energy efficient PVC window and door systems. With over

downstream finishing, stamping, tooling, and tubing. The Company

500 employees, the Monroe location includes the North American

serves a diverse range of markets due to its comprehensive offering

headquarters, together with manufacturing, tooling and engineer-

of flat-rolled steel products and is the largest supplier of steel to the

ing functions.

automotive industry in North America-headquartered in Cleveland,

•

Ohio.

More than 1 million sq. ft. of combined production & warehouse facilities

•

27,000+ employees

•

Over 500 employees in USA. 3,700+ worldwide

•

46 operating facilities, including 3 sites around Middletown,

•

6 million+ windows built annually in the US by Deceuninck

Ohio (Middletown Works, Research and Innovation Center, West •

customers

Chester Regional Office)

•

Innovators of specialty grades of steel

Middletown Works is an integrated steel operation with carbon

•

15 manufacturing locations worldwide, including Monroe, OH

•

and Fernley, NV Winner Best Workplaces in Ohio 2019, 2020 & 2021

steel melting, casting, hot-and cold-rolling and finishing operations •

Innovators of specialty grades of steel

•

Sustainable business model focused on the best environmental, social and governance (ESG) practices and production of clean steel

30

Atrium Medical Center has served Southwest Ohio from its Middletown campus since 1917. We are Warren County’s only Level III Trauma Center and Primary Stroke Center, providing immediate assessment and care for seriously injured or ill patients, and the only accredited Chest Pain Center in Warren County. We offer maternity, cancer, orthopedics, heart care, and much more as part of Premier Health. Leading national organizations regularly recognize Atrium’s quality care, including: •

“High Performing” in Heart Attack, Stroke, and Maternity Care (Uncomplicated Pregnancy) by U.S. News & World Report (2023)

•

Two consecutive “A” safety grades by The Leapfrog Group (2023)

•

Top 50 rehabilitation hospitals in the nation (2022-23) by U.S. News & World Report

•

Women’s Center with comprehensive breast cancer services

•

Surgical services, including minimally invasive, robotic options

•

Accredited Level 3 Senior Emergency Center from the American College of Emergency Physicians - first hospital in the Cincinnati area to achieve the honor

•

Family Birth Center with Level II special care nursery and Natural Beginnings - Cincinnati’s only natural birth center 31

regional employers

First Financial Bancorp, is a Cincinnati, Ohio based bank holding company. As of September 30, 2021, the Company had $16.0 billion in assets, $9.4 billion in loans, $12.7 billion in deposits and $2.2 billion in first financial bank shareholders’ equity.

The Company’s subsidiary, First Financial Bank, founded in 1863, provides banking and financial services products through its six lines of business: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance and Wealth Management. These business units provide traditional banking services to business and retail clients. Wealth Management provides wealth planning, portfolio management, trust and estate, brokerage and retirement plan services and had approximately $3.2 billion in assets under management as of September 30, 2021. The Company operated 139 full-service banking centers as of September 30, 2021, primarily in Ohio, Indiana, Kentucky and Illinois, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis.

32

The Molson Coors Trenton, OH Brewery, which opened in 1991, is one of the company’s most modern breweries. Located between Cincinnati and Dayton, the brewery produces such brands as Miller Lite, Coors Light, Miller High Life.

• 1,056 acres, capacity to brew 11 million barrels of beer a year • 494 employees; 399 technicians and 95 salaried • Brewery locations in Milwaukee, WI; Albany, GA; Elkton, VA; Fort Worth, TX; Golden, CO • Produced 2 million cans of water for humanitarian disasters • Landfill free since 2009 • Healthy Worksite Award 2013-2020 • 2016 Duke Energy Power Partner • 2017 Ohio EPA Gold Encouraging Environmental Excellence Award • Healthy Worksite Platinum Award 2022 • Cancer Screen Excellence Award 2023

As a faith-based, nonprofit health system, Kettering Health strives to improve the lives of people in our communities through healthcare and education. Kettering Health is made up of 15 medical centers and more than 120 outpatient locations throughout western Ohio, as well as Kettering Health Medical Group- with more than 700 board-certified providers dedicated to elevating the health, healing, and hope of the community. Kettering College, a division of Kettering Health Main Campus, is a fully accredited college that specializes in health science education. Kettering Health opened its Middletown location in 2018, providing comprehensive care that is centered around the whole patient-mind, body, and spirit. Services include: • 24/7 emergency care with MRI, CT, X-ray, ultrasound, and cardiac testing • Behavioral health services • Primary care • Women’s health services • Brain and spine care • Urology care • Heart and vascular care • 3D mammography with Sensory• General surgery Suite technology • Orthopedic care 33

local development

EST. INVESTMENT: $200M

EAST END DEVELOPMENT The project will include a 3,000-seat, multi-purpose Event Center, Class A retail and office, hotels, restaurants and a variety of residential products, according to developer Todd Duplain from Woodard Development, a Dayton-based commercial real estate firm.

Assistant City Manager Nathan Cahall said the timeline of Renaissance Pointe calls for bids on infrastructure improvements to be awarded in mid-February 2024 with a ground-breaking ceremony set for early March. The infrastructure improvements could be complete sometime in 2025, he said.

Since then, the city has created a new tax incrementing financing (TIF) district for the site and a new community authority to raise other supplemental revenues over time in support of the project, according to city documents.

The project would attract full-service, high-end hotels, premium and fast-food restaurants, townhomes that would sell in the $325,000 to $425,000 range and a medical complex that could complement the two East End hospitals, Atrium Medical Center and Kettering Health Middletown, according to Duplain.

While the Event Center won’t open for at least two years, Martin Russell, executive director of the Warren County Port Authority, has said it’s 65% booked, according to pre-lease agreements and letters of intent.

The project could improve the quality of life for local residents and generate sales and property taxes, according to Duplain, who added the Event Center has the potential to draw 425,000 visitors a year.

34

HIGHLIGHTS •

3,000 seat event center

•

8 minute drive from Lefferson

•

Class A retail

•

Office, restaurants

•

Ground breaking March 2024

•

Project to both Woodard Development and Warren County Port Authority

•

Potential to draw 425,000 visitors per year

CLEVELAND CLIFFS Cleveland-Cliffs Middletown Works, founded as Armco Steel in 1900, plans to invest more than $500 million in federal grants and $1.3 billion in its own funds over a five-year period to upgrade the Middletown plant.

This investment will secure 2,500 jobs at Middletown Works, where the unionized workforce is represented by the International Association of Machinists.

The plant will retire one blast furnace, install two electric melting furnaces and use hydrogen-based ironmaking technology. The project aims to eliminate 1 million tons of greenhouse gas emissions each year from the largest supplier of steel to the U.S. automotive industry, the company announced last week.

HIGHLIGHTS •

$1.8 billion in upgrades that will add jobs and ensure the long term stability of its business

•

$500 million in federal grants

•

$1.3 billion in its own funds

•

Will secure 2,500 jobs at this location

EST. INVESTMENT: $500M + $1.3B IN FUNDS

35

local development

EST. INVESTMENT: $45M

ECCHO RIDGE APARTMENTS

An Indiana development company has sets it sights on Ohio and the Dayton region. Indianapolis-based Kendall Property Group is plotting a luxury apartment complex south of Dayton. Its first Ohio project will be a 319-unit, luxury, market-rate apartment complex located near the intersection of Union Road and Innovation Drive near Interstate 75 in east Middletown. The estimated $45 million development is called “Innovation Way Apartments.” The Innovation Way Apartments will feature a mix of one-, two- and three-bedroom units. The complex will feature a large club house, pool, workout facility, dog park, business center and river and water views. The units will feature upscale amenities such as granite counter-tops, stainless steel appliances open kitchens and private balconies/patios.

HIGHLIGHTS •

319 units, luxury, market rate apartments

•

Developed by Indiana based Kendall property group

•

Will have a mix of one-, two- and three-bedroom units

•

Will feature upscale finishes like granite countertops, stainless steel appliances and open kitchens.

•

Will have upscale amenities like a club house, pool, workout facility, dog park and business center

36

CITY INFRASTRUCTURE DEVELOPMENT

EST. INVESTMENT: $53M

The city has started a $53 million project to install a five million-gallon storage tank reservoir underground that will help reduce the amount of combined sewer overflows, said Scott Tadych, the city’s public works and utilities director.

He said the concrete storage tank will hold the water there for 24 or 48 hours, then slowly pump it back to the main interceptor sewer line that goes to the wastewater treatment plant. That will “significantly reduce” the overflows into the hydraulic canal upstream of the Great Miami River, he said.

Eventually, once the reservoir is operational, the greenspace will be converted into a city park. While the amenities haven’t been finalized, they may include an event lawn, permanent home for the Holiday Whopla’s ice and roller rink and pickleball courts. Tadych said the park will have features similar to the Central Avenue project with benches, landscaping and trees.

37

middletown, oh arena district

Officials from the city of Middletown and Dayton-based Woodard Development attended a June 19 groundbreaking for the first phase of Renaissance Pointe. Expected to create more than $200 million in new construction, it figures to be one of the largest commercial development projects in the city’s history.Renaissance Pointe sits on roughly 50 acres at the southeast corner of Union Road and U.S. Route 122 near Interstate 75 in Middletown’s East End neighborhood.

38

$200M 50 ACRES 336 UNITS

more info Located on the fast growing east side of Middletown, Ohio off I-75 and OH-122 at Union Road.

This location is just 25 minutes from Northern Cincinnati & 20 minutes from Dayton. This “One of a Kind” regional destination will include a unique and unmatched Multi-purpose Arena and Event Promenade. The Arena includes three linked but separate playing and performance surfaces that will allow for ice events, hockey, arena football, soccer and lacrosse. The venues will also be able to host concerts, family shows, graduations, community events, trade shows and exhibitions. The Arena will be supported by a mix of Class-A retail, food and beverage, entertainment, hospitality, office, multi-family residential and town homes. The project is estimated to generate $61 million dollars in revenue in just the first year, attracting over 425,000 visitors annually and creating 660 new full-time jobs. This regional center will offer unparalleled convenience and vitality to Middletown, Warren County and the entire Southwest Ohio Region.

214,000 sqft arena

48,400

sqft of office space

125,500 sqft of retail/restaurant space

2,421

parking stalls

336

residential units

3

multi-family units

32

townhomes 39

middletown, oh arena district

40

hospitality

75

An event HQ Hotel is located directly east of the Event Center and is connected by a ground level connection. A second hotel is planned at the Atrium Blvd entrance north of the Arena, which will afford access and visibility from OH-122. Combined the hotels will offer a total of 304 keyes.

retail/restaurant/entertainment Strong retail sites are planned along the frontage of OH-122. At the northwest corner to the site, a large high-level, convenience/gas/wash pad is available. To the east of the C-Store pad and to the east & west of the Event Promenade “fast casual” restaurants are planned. Additional major retail/ restaurant use is planned on the ground/street level of the MultiFamily units.

residential Well crafted Class-A Multifamily and Townhome residential is planned for both the West and East of the site. Below floor-plate parking or surface parking for tenants of the Multi-Family units. The Townhomes planned include garages and further enhance the village style orientation. Major single family home expansion is planned to the south of the district by other developers.

office

75

Medical Office Building , is planned to the south of the HQ Hotel. Which can be a standalone building or attached to the Event Center. The Medical Office Building will have peak use during the day when the Event Center & hotel have the least need for adjacent parking spaces.

41

CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however. Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. Michael Glass Michael.Glass@marcusmillichap.com Broker of Record 500 Neil Ave., Ste. 100 Columbus, OH 43215 P: (614) 360-9800 Lie. # BRK.2007005898

42

43