Design Within Reach

DESIGN WITHIN REACH

ICONIC SINGLE TENANT TROPHY ASSET LOCATED IN THE HEART OF THE PEARL DISTRICT – PORTLAND, OR

LEAD ADVISOR JUSTIN POOR

Principal Advisor 503.218.4380 justin.poor@cinw.com OR 200705229 | WA 109251

ERIK FORDYCE

Director of Investments 781.707.8184 erik.fordyce@cinw.com OR 201251735

LEGAL DISCLAIMER

The information contained in this marketing brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Commercial Integrity, NW and should not be made available to any other persons or entities without written consent of Commercial Integrity, NW. The information contained herein has been prepared to provide summary, unverified financial and physical information to prospective purchasers to establish a preliminary level of interest in the Subject Property.

THE INFORMATION CONTAINED HEREIN SHALL NOT BE A SUBSTITUTE FOR A THOROUGH DUE DILIGENCE INVESTIGATION.

Commercial Integrity, NW has not made any investigation, and makes no warranty or representation with respect to the income or expense for the Subject Property, the future projected financial performance of the Subject Property, the size or square footage and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plan or intentions to continue to occupy the Subject Property. The information contained herein has been obtained from sources we believe to be reliable; however, Commercial Integrity, NW has not verified and will not verify, any of the information contained herein, nor has Commercial Integrity, NW conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential purchasers must take appropriate measures to verify all of the information set forth herein.

TABL E OF CONTENTS

5

THE TEAM

6 7 8 9 10

OUR TEAM MEET THE CINW TEAM UNDERWRITING & VALUATION THE CINW APPROACH NOTABLE SALES

11

THE MARKETING PLAN

17

CLIENT PORTALS

12 16

CINW MARKETING THE FORMULA

18

THE SYNOPSIS

22 23 24

INVESTMENT HIGHLIGHTS PRIME LOCATION AREA HIGHLIGHTS

19 20 21

ASSET SYNOPSIS ASSET HIGHLIGHTS SELLER-FINANCING

COMMERCIAL INTEGRITY STANDS ALONE IN OUR RETAIL INVESTMENT SALES AND ADVISORY EXPERIENCE. COLLECTIVELY THE TEAM HAS TRANSACTED OVER $1B IN INVESTMENT ASSETS.

THE TEAM COMMERCIAL INTEGRITY NW | PORTLAND, OR

in the leasing and investment sales market while prioritizing the responsibility to do

O U R T EAM

Justin Poor, visionary Commercial founder and Principal Advisor ofNW, Commercial possesses dynamicat a Prior tothe starting Integrity JustinIntegrity spentNW, nearly tena years background rootedfirm in a nearly decade-long tenure President in the commercial real estate industry.

Prior to starting brokerage andtwo served as Vice of Investments before taking o “CI”, he held the role of Vice President of Investments at a leading national brokerage company.

of creating a company with a different approach. Justin has been recogniz

JUSTIN POOR

Principal Advisor JUSTIN POOR

503.218.4380 Principal Advisor justin.poor@cinw.com Capital Markets OR 200705229 | WA 109251

o. 503.218.4380 c. 503.961.5594

justin.poor@cinw.com OR 200705229 | WA 109251

Justin has consistently garnered recognition on both regional and national platforms throughout his career. His not only as a top performer in the Pacific Northwest market but nationwide, exceptional contributions were lauded at his previous firm, where he earned accolades as ‘Top Portland Broker’ 2013, 2014 and 2015, he received the National Sales Recognition Award along along with the National Sales Recognition Awards every year as the country came out of the ‘Great Recession’ Award in Achievement 2014 and 2015, him a Top as Achievement well as the prestigious National Awards distinguishing placing him in the top 10%nationally of the country,as Thus solidifying his positionthe as aNumber preeminent figure the industry.

His vast professional network expertise the was ranked OneinAgent in the Portland Office inand 2012 andinagain Portland market, he brings to each client, hasretail made him a trailblazer in experience the commercial real estatemarket world.

Justin andwhich CINW bring extensive transaction to the

Under Justin's leadership, brought a wealth ofand experience to the retail 2007, Justin has Commercial assisted Integrity clientsNWinhas the acquisition disposition ofsector. single, Since 2007, Justin has facilitated an impressive list of single, multi-tenant, and mixed-use retail transactions, mixed-use retail investments and has brokered over one-half billion dollar amassing a total transaction and advisory valuation of over $1billion dollars. More importantly, Justin has transactions. As Principal Advisor of CINW, Justin continues to develop com integrated the principals of integrating new technologies, individualized approaches to each asset and giving innovative approaches to the marketing and an selling ofcapable investment propertie back to the community as part of the CINW mission.

Justin has crafted efficient, team at CINW with professionals from all unique backgrounds with the knowledge and resources to serve all clients with the time Northwest. and quality needed to achieve their goals.

As the Principal Advisor of CINW, Justin continues to spearhead the development of pioneering strategies, redefining the landscape of marketing and sales for investment properties in the thriving Pacific Northwest market.

ErikCommercial brings more than 15 years of broad acrossto thewelcome investment and corporate finance industries.

Integrity NWexperience is pleased Brad Macomber to ourAsteam a Director at CINW, he is responsible for financial facets of the company’s strategic real estate activities with new but synergistic service to our clients as Director of Leasing and Senior A oversight over finance, underwriting, capital planning, banking relationships, reporting, and investor relations.

Integrity NW will now provide clients advisory services through leasing, repre

ERIK FORDYCE

BRAD MACOMBER Director of Investments

781.707.8184 Director of Leasing erik.fordyce@cinw.com Senior Advisor OR 201251735 o. 503.218.4380 6c.DESIGN WITHIN REACH 503.720.0684

Prior to joining Commercial Integrity, Erik was Vice President, Finance & Head of Investor Relations for Next Landlords and Tenants. This is a key addition and complementary to our gro Frontier Brands, a private equity firm, where he analyzed and structured 8 business acquisitions valued at over advisory services currently provide. to and beginning career in real e $500M in aggregate and led we investor relations for the fund’sPrior sponsors investment his banking relationships. five years practicing in Portland, participating of rea Prior to this he was Vice President,law Corporate Finance at actively GE Capital where he originated in andlitigation structured over $200M real estate of andcontracts. capital equipment transactions the US. He also 6 years ashim an equity andin breach Such a legalacross background hasspent provided with an analyst, initially providing stock recommendations to large institutional investors and later for his firm’s conduct the day-to-day contract and lease negotiations demanded by his account at a long/short hedge fund. He began his career in GE’s Financial Management Program.

also previously owned and operated a handful of retail establishments in do giving him key insight and the ability to comprehend both Landlord and Ten multiple perspectives. Brad joined CINW with 10 years prior experience of Lan Representation, as well as Retail Investment Sales at a local commercial rea

DV

Principal Advisor Principal Advisor Capital Markets

o. 503.218.4380 c. 503.961.5594

justin.poor@cinw.com OR 200705229 | WA 109251

ME ET TH N TE C I N W T EA M IN

TE

Justin and CINW bring extensive retail transaction experien

of creating a company with a different approach. Justin has bee 2007, Justin has assisted clients in the acquisition and disp not only as a top performer in the Pacific Northwest market but n mixed-use and has brokered over one-A 2013, 2014 andretail 2015,investments he received the National Sales Recognition transactions.

As Principal Advisor CINW,JUSTIN Justin continues POOR Achievement Award in 2014 and 2015, of distinguishing him nationa Principal Advisor innovative approaches to Agent the marketing and selling inv was ranked the Number One in the Portland Office inof2012 Capital Markets Northwest.

Justin and CINW bring extensive retail transaction experience to ERIK FORDYCE 2007, Justin has assisted clients in the acquisition and disposition RICHARD RAMER Director of Investments Senior Advisor mixed-use retail investments and has brokered over one-half bi transactions. As Principal Advisor of CINW, Justin continues to de innovative approaches to the marketing and selling of investme Northwest.

ASING E L D AN

ng national new challenge ultiple times ell. In 2012, the National ducer. Justin JUSTIN POOR 4.

Principal Advisor . Since Capital Markets -tenant o. and 503.218.4380 c. 503.961.5594 ommercial justin.poor@cinw.com nsive and OR 200705229 | WA 109251 JUSTINPOOR POOR he PacificJUSTIN

Commercialand Integrity NW wasfirm founded on served brokerage and as Vice President Investmen simplicity in Integrity is often overlooked.

Our team of of Investment P the principal in its name. In a transactional true integrity, over forty-plus years sales and advisory of creating a company with of a unmatched different approach.

Justin ex h world, the strength and simplicity in innot the leasing and investment salesinmarket while prioritizing the marke respon integrity is often overlooked. only asCINW a top performer the Pacific Northwest strives to combine true integrity 2013, 2014 and 2015, he received the National Sales Recogn with over twenty-plus years of Achievement unmatched sales and advisory Award in 2014 and 2015, distinguishing him n experience while prioritizing Prior to starting Commercial Integrity NW, spent nearly ten was ranked the Number One Agent inJustin the Portland Office i the responsibility to do right. brokerage firm and served as Vice President of Investments befo

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SA

S E L

Commercial Integrity NW is pleased to welcome Brad Mac new but synergistic service to our clients as Director of Lea ad introduces a BRADprovide MACOMBER Integrity NW will now clients advisory services throu r. Commercial Senior Advisor Landlords and Tenants.

This is a key addition and complem ng both Director of Leasing investment advisory services we currently provide.

Prior Brad to beginning h Commercial Integrity NW is pleased to welcome Macomber INVESTMENT Brad spent five but years practicing law to in our Portland, participating new synergistic service clients actively as Director of Leasing an SALES AND te disputes Integrity NW will provideSuch clients services through lea and breach ofnow contracts. a advisory legal background has pro LEASING l skill set to Landlords Tenants. This is a key addition and complementar conduct and the day-to-day contract and lease negotiations d RICK BRODY KENDRA FLORES on. Brad has BRAD MACOMBER Single Tenant/ advisory services we currently Prior to beginning his care Multi-Tenant/MixedOperations Analyst Marketing Specialist also previously owned and provide. operated a handful of retail est Senior Advisor wn Portland, BRAD MACOMBER Use Retailfive Assets. years practicing law in Portland, actively participating in litiga giving him key insight and the ability to comprehend both Director of Leasing eeds from First Time and Seasoned and breach of contracts. Such a legal background has provided Senior Advisor Investors. multiple perspectives. Brad joined CINW with 10 years prior and Tenant JESSA SMITH deman conduct the day-to-day contract and lease negotiations o. 503.218.4380 Private andRepresentation, Institutional Clients. ate firm in as well as Retail Investment Sales at a loca !80'ধ2+ Specialist DESIGN WITHIN REACH 7

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also previously owned and operated a handful of retail establish

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JUSTIN POOR

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Principal Advisor Capital Markets

O UR NU M BERS S PEAK FO R TH EM S EJUSTIN LVE SPOOR

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with over twenty-plus years of

th Your Short-Term unmatched sales and advisory dtimes Long-Term Goals. experience while prioritizing Commercial Integrity NW was founded 012, es Including: Lease the responsibility to doon right. the principal in its name.

In a transactional et Analysis and our ational world, the strength and simplicity in gent Pricing Model. integrity is often overlooked. CINW Justin strives to combine true integrity with over twenty-plus years of e unmatched sales and advisory experience while prioritizing t and the responsibility to do right.

Principal Advisor Capital Markets

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oduces a IN THE LAST 36 MONTHS, CINW’S TEAM BRAD MACOMBER mercial Senior Advisor h CLOSED PROPERTIES WITHIN Director of1.25% Leasing OF ment OUR RECOMMENDED LIST PRICE. INVESTMENT spent SALES AND BRAD MACOMBER putes Senior Advisor NERGISTIC LEASING et to Director of Leasing RSPECTIVE Single Tenant/ ad has Our Investment INVESTMENT Multi-Tenant/Mixedrtland, sory Team Works SALES AND Use Retail Assets. oratively on your rom First Time and Seasoned Behalf. LEASING Investors. enant our Synergies to Single Tenant/ Private and Institutional Clients. mctivate in Multi-Tenant/MixedUntapped 8 DESIGN WITHIN REACH

JESSA SMITH

!80'ধ2+ Specialist

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Intelligent Pricing Model.

V

ADVISORY SERVICE

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Dynamic Approach to Uncovering Latent Value.

THE CINW APPROACH

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esign Strategies to Achieve Both Your Short-Term and Long-Term Goals.

ER

Advisory Services Including: Lease Renewals, Market Analysis and our Intelligent Pricing Model.

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Commercial Integrity NW was founded on the principle in its name. In a transactional world, the strength and simplicity in integrity is often overlooked. CINW strives to combine true integrity with over twenty-plus years of unmatched sales and advisory experience while prioritizing the responsibility to do right.

AD VI S O R Y SE R V I C E

A SY N E R G I S

A dynamic approach to uncovering latent value.

Design strategies to achieve both your short-term and long-term goals.

Advisory services including: lease renewals, market analysis, and our intelligent pricing model.

A SY N E RG

IN V E ST M ENT SALES & LEAS I NG CHRISTINE MORREIRA

6'8!ধ329 2!£@9; Single tenant/ multi-tenant/ mixed-use retail assets.

First-time and seasoned investors.

MORREIRA Private and institutional clients.

S Y NERGI ST I C P E R SP E C T I V E

T I C

Our investment advisory team works collaboratively SYNERGISTIC on your behalf.

Northwest-focused with a national reach.

PERSPECTIVE

9 2!£@9;

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SYNERGISTIC PERSPECTIVE

We utilize our synergies to expose and activate Our Investment untapped value.

Advisory Team Works Collaboratively onOur yourinnovative process captures value today and solidifies it for tomorrow.

Behalf.

SP

EC

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Our Investment We Utilize our Synergies to Expose and Activate Untapped Advisory Team Works

DESIGN WITHIN REACH

9

NOTABLE SALES JAKE ' S FA MO US C R AW F I S H 4 01– 4 0 9 S W 1 2 T H AV E N UE 4 11– 4 17 SW 1 2 T H A V E N UE POR T L A ND , OR BU IL D ING SF : ASSE T T YP E : SAL E S P RIC E:

48,1 25 MULTI-FAMILY/ RETAIL $1 6,000,000

WIL L IAMS-S O N O MA 328- 338 N W 2 3 R D A V E PO RT L AND, OR BU IL D IN G SF: ASSE T TY P E : SAL E S P RIC E:

23,000 RETAIL $12,275,000

MCCORMICK & SCHMICK’S HARBORSIDE & SHOPS 30 9 SW MO N T G OME R Y S T .

POR T L A ND , OR BU IL D ING SF : ASSE T TYP E : SAL E S P RIC E:

10 DESIGN WITHIN REACH

8,350 RETAIL $7,400,000

Subject Property

THE MARKETING PLAN 825 NW 13TH AVE. | PORTLAND, OR

CINW MARKETING

1. CREATE A UNIQUE OFFERING MEMORANDUM We want to display your asset in the best way possible.

That’s why our creative marketing team will spend the time producing marketing material that will stand out from all of the rest

YOUR ASSET DESERVES TO STAND OUT AND ATTRACT THE RIGHT INVESTOR

2. PUT YOUR PROPERTY IN FRONT

3. TRACK AND TARGET THE COUNTRY'S MOST RECENT & ACTIVE INVESTORS

Your property will find the country’s most active Investors and landlord/tenant who we work closely with to ensure a competitive landscape during our marketing period.

Our "Select Tenant List" includes over 6,100 active Investors and landlords/tenants in the Pacific Northwest. Our Tenant list is growing on a weekly basis and is the result of building lasting and successful relationships across the country for over a decade.

Our research team is constantly following the market and stays current on all investment transactions completed on the West Coast and throughout the country. We specifically target scores of new Investors on a daily basis who have just completed a sale or who are actively looking to purchase investment assets.

OF OUR "SELECT TENANT LIST"

OVER THE LAST 6 MONTHS IN OREGON, WASHINGTON & CALIFORNIA ALONE: • 5,404 Investment Transactions Between One Million and Five Million Dollars • 948 Investment Transactions Between Five Million and Ten Million Dollars

These are the Investors who pay top dollar! When we represent a new asset in the marketplace, our team prides itself on taking a proactive approach with this specific group of Investors.

Whether it is a personal phone call or reaching them through our various marketing efforts - its these connections that make the difference.

12 DESIGN WITHIN REACH

CINW MARKETING

4. COMPLEMENTING OUR EFFORTS WITH UNMATCHED DIGITAL & PRINT EXPOSURE ACROSS THE REGION & NATION As your acting partner in the sale of your asset, CINW spends the marketing dollars to ensure MAXIMUM exposure across all media channels and outlets, both old and new. We take a new-age approach to both digital and print media, leaving our competition behind.

Your asset will be noted and advertised in both local and national print and digital publications. We will utilize all marketing and social media platforms so your asset covers the entire market. Although we value our relationships with the countless Investors and Brokers we’ve worked with, we know the Brokerage community can only add value to our listings.

• Big Boys Blast: Reaches 100,000 Investors, and Real Estate Professionals in both The US + Canada. bigboysblast.com

•

• National Real Estate Investor: Reaches 80,000 Newsletter Subscribers nreionline.com

• Shopping Center Business: Reaches 102,000 Monthly Print & Digital Subscribers shoppingcenterbusiness.com

• Western Real Estate Business Magazine: rebusinessonline.com/ category/western

• Property Send: Reaches 120,000 Buyers, Brokers, Agents Nationwide propertysend.com

• Daily Journal of Commerce: Reaches 8,000 Newsletter Subscribers djcoregon.com

• Multnomah Athletic Club The Winged M: Reaches 22,000 Members

Portland Business Journal: CINW will Schedule an Interview and Have the Property Featured in an Article bizjournals.com/portland

• RENTV: Reaches 16,000 Real Estate Professionals 3x per Week rentv.com

DESIGN WITHIN REACH

13

MARKETING TIMELINE 825 NW 13TH AVE. PORTLAND, OR WEEKS

WEEKS

1-2

• Professional / aerial photography • Produce marketing material including property flyer, Final Offering Memorandum, digital marketing materials for online promotion, and physical signage • Featured Property on CINW.com. Final OM to include Tenant Profiles • Client review and approval of marketing material • Refine the active buyer dream list • The most active buyers in the market targeted for your specific asset

14 DESIGN WITHIN REACH

2-4

• Personal contact via phone calls, emails or in-person with targeted list • Associate data analyst identifying new-to-market prospects ongoing • Present opportunity to marketplace through media channels including: CINW website, CoStar, LoopNet, Crexi, Commercial Cafe, Real Capitol Markets • Execute marketing email campaigns to most active tenants locally, regionally, West Coast, & nationally

• Social media campaign on market relevant social media platforms: LinkedIn, Facebook, X, Instagram • Personally contact Investors, Exchange Accommodators, Exchange Clients, & Brokers with property specific marketing assets • Update marketing materials as needed

WEEKS

5-8

ONGOING

• Vet potential investors as Confidentiality Agreements are executed

• Ongoing walkthroughs at the property

• Press Release

• Update marketing material as needed

• Marketing Report to Ownership • Update marketing material as needed

• Negotiate offers

SEATTLE | TACOMA

ASK OUR ADVISORS ABOUT CI’S NEW PLATFORM!

PORTLAND | VANCOUVER

BOISE

SAN FRANCISCO | SAN JOSE

CI HAS TAKEN AN AGGRESSIVE AND MODERN APPROACH TO ACCESSING NEW INVESTORS. WE HAVE ESTABLISHED PARTNERSHIPS WITH CUTTING EDGE COMPANIES TO SPECIFICALLY ENHANCE OUR CLIENTS’ REACH. OUR NEW PLATFORM PROVIDES OUR CLIENTS WITH ACCESS TO THE LARGEST POOL OF WEST COAST INVESTORS.

LOS ANGELES

DESIGN WITHIN REACH

15

THE FORMULA ID E NT IFY Our “Select Buyers List” includes 25k+ active investors and Owner/Users in the Western Region of the U.S. Our Buyers List is growing on a weekly basis and is the result of building lasting and successful relationships across the country for over a decade.

C O NNE CT When we represent a new asset in the marketplace, our team prides itself on taking a proactive approach with investors. Whether it is a personal phone call or reaching them through our various marketing efforts, it’s these connections that make the difference.

16 DESIGN WITHIN REACH

TRAC K Our Research Team is constantly following the market and stays current on all investment transactions completed on the West Coast and throughout the country. We specifically target scores of new investors on a daily basis who have just completed a sale, or who are actively looking to purchase investment assets.

C LOS E Our expert team of Advisors have transacted over $1B in investment assests since 2019.

CLIE N T PO R T ALS ES C RO W + DUE DILIG EN CE

• BOUTIQUE CUSTOMER EXPERIENCE WITH PRIVATE CLIENT PORTALS TO STAY CONNECTED THROUGHOUT THE CLOSING PROCESS • EASY-TO-FOLLOW ESCROW TIMELINE • SECURE DUE DILIGENCE LINKS • WEEKLY MARKETING REPORTS • DIRECT CONTACT WITH YOUR ADVISOR

DESIGN WITHIN REACH

17

THE SYNOPSIS 825 NW 13TH AVE. | PORTLAND, OR

$368.50 PSF | 28,000 SF

ASSET SYNOPSIS

$10,316,891 $368.50 PSF

DESIGN WITHIN REACH 825 NW 13TH AVE. PORTLAND, OREGON Building SF Price Price PSF Floors Land

28,000 SF $10,316,891 $368.50 2 0.32 AC

Taxes Zoning Type Built/Reno Building Type

Cap. Rate

Seller Note Rate*

Transaction Value

Comments

6.50%

3.50%

$11,110,498

Too Aggressive

6.75%

3.75%

$10,698,998

Suggested List

7.00%

4.00%

$10,316,891

Suggested List/Strike Range

7.25%

4.25%

$9,961,136

Strike Range

7.50%

4.50%

$9,629,098

Multiple Offers

$2.90/SF (2021) EX Retail/Office 1895/2015 Masonry

*Recommended structure: 5yr int. only term, 30yr amort. Aggressive structure correlated with lower cap rate.

DESIGN WITHIN REACH

19

SELL ER -FI NA NCI NG O U R R E COM MENDATION FOR SELL E R-FINA NC ING The current interest rate environment has up-ended traditional financing methods for buyers and has severely impacted sales across the country in all sectors. To the seller’s advantage, the availability of seller-financing allows the seller to offer ‘better than market’ pricing when comparing to today’s market.

At a lower interest rate, the purchase price increases.

At a higher interest rate, the purchase price decreases.

20 DESIGN WITHIN REACH

Proposed Seller Note Rate

Transaction Value

Proposed Seller Carry (65%)

Equity Required

3.50%

$11,110,498

$7,221,823.43

$3,888,674.16

3.75%

$10,698,998

$6,954,348.49

$3,744,649.19

4.00%

$10,316,891

$6,705,978.90

$3,610,911.72

4.25%

$9,961,136

$6,474,738.25

$3,486,397.52

4.50%

$9,629.098

$6,258,913.64

$3,370,184.27

Proposed Loan Terms 5-10 Year Term, 30 Year Amortization, I/O (?)

ASSET HIGHLIGHTS STYLISH & CONVENIENTLY LOCATED • The Pearl’s newest creative office redevelopment and headquarters opportunity • Premier Pearl District location on NW 13th Street in the heart of the Pearl District • Features abundant natural light, open layout, high exposed ceilings, concrete floors and natural exposed wood beams • Skylights throughout Floor 2 • Bike parking and shower facilities • Access to the NW 13th Avenue dock, and exclusive overhead roll-up door fronting NW 13th • Building signage opportunity • Great opportunity in a true character-rich building • High traffic, high energy retail and restaurants surrounding • Good mix of office and retail uses in the area • Easy access to I-5, Hwy 26 via I-405 • Direct access to east Portland via the Broadway Bridge • Parking guaranteed within three blocks at market rates

NEARBY RETAILERS REI

Daily Cafe

Chipotle

Irving Street Kitchen

Lizard Lounge

Safeway

Bridgeport Brew Pub

24 Hour Fitness

Powell’s Books DESIGN WITHIN REACH

21

INVESTMENT HIGHLIGHTS PRIME LOCATION IN PORTLAND'S TRENDY PEARL DISTRICT

Nestled in the heart of the Pearl District, this asset enjoys a prestigious address surrounded by upscale boutiques, cultural destinations and renowned dining establishments. The vibrant urban atmosphere offers businesses a unique opportunity to thrive in one of Portland's most sought-after neighborhoods.

SINGLE TENANT PROPERTY WITH STRONG TENANT IN PLACE

The asset is currently fully leased out to Design Within Reach, a national credit tenant with years of successful operation in Portland. The triple-net lease is through 2027 and is at market rate.

PORTLAND RETAIL MARKET SHOWS STRONG GROWTH

Boasting an impressive 3.5% retail vacancy, the Portland retail market has demonstrated a tremendous recovery from the Covid-related downturn in years prior. Portland's market rent figure now sits at a record high of $24.34/SF as a result. Over the past year, 34,000 jobs have been added to non-farm payrolls in Portland, for an increase of 2.7%. Total job growth in the U.S. over the past year was 2.0%.

THE MACROECONOMIC OUTLOOK REMAINS CAUTIOUSLY OPTIMISTIC

After several quarters of dramatic fed rate increases, the last 2 meeting yielded no raises as the federal reserve has shown signs indicating the increasing likelihood of a soft landing. As a result, treasury yields have fallen as demonstrated by a 70 basis point drop in the 10-Year treasury between October and December. While the fight against rampant inflation continues, many industry leaders and policy makers have indicated optimism that the next several quarters can see fed rates stay at their current levels.

22 DESIGN WITHIN REACH

ROACH A TEAM A TEAM A IDEALLY-LOCATED IN PORTLAND’S BUSTLING PEARL DISTRICT

PRIME LOCATION

Subject Property

6 min. drive/ 17 min. walk to NW 23rd

11 blocks to Union Station

8 min. drive/ 17 min. walk to downtown

DESIGN WITHIN REACH

23

THE AVALON THEATRE

7

AREA HIGHLIGHTS WORK DAY POPULATION

HOUSEHOLDS

HH INCOME

CONSUMER SPENDING

3 MILES

5 MILES

116,279

327,956

545,529

28,748

95,486

195,215

$106.2 k

$131.6k

$134.7k

$1.6b

$6.9b

$15.9b

WALKSCORE: 98 TRANSITSCORE: 84 TRANSIT: 1 MIN WALK TO NW 13TH & LOVEJOY TRANSIT STOP (PORTLAND STREETCAR) 13 MIN DRIVE TO B EAVERTON TRANSIT CENTER (WEST SIDE EXPRESS) AIRPOR T: 20 MIN DRIVE TO PDX PORTLAND INTERNATIONAL AIRPORT

TRA FFIC

TRAFFIC VOLUME: 2,7 51 ON NW JOHNSON ST & NW 13TH AVE. 7 ,598 ON NW 14TH AVE & NW IRVING ST.

4 .1 8 M

MU LTNOMAH C OU NT Y

809, 869

MSA

PORT LAND METRO AREA

2.47 M

CITY

PORTLAND

65 0, 380

COUNTY

24 DESIGN WITHIN REACH

POPULATION

OREG ON

STATE

TRAN SPORT ATION

Subject Property

1 MILE

DEMO G RAPHIC S

PROACH OACH

* Professional Photography incorporated after signed Representation Agreement

LEAD ADVISOR JUSTIN POOR JUSTIN POOR Principal Advisor Principal 503.218.4380 Advisor 503.218.4380 justin.poor@cinw.com justin.poor@cinw.com OR 200705229 | WA 109251 OR 200705229 | WA 109251

ERIK FORDYCE BRAD Director ofMACOMBER Investments Senior Advisor 781.707.8184 503.218.4380 erik.fordyce@cinw.com brad.macomber@cinw.com 201251735 OR 200908061OR | WA 95748