Northgate Plaza - Waxahachie, TX

Call for Offers: June 6, 2017

NORTHGATE PLAZA WAXAHACHIE, TX

PRICING & FINANCIAL ANALYSIS

NORTHGATE PLAZA

FINANCIAL ANALYSIS

Northgate Plaza 507 North Highway 77 Waxahachie, TX 75165

Offering Summary Price Cap Rate Net Operating Income Price PSF Year Built

7.42% 8.00% $1,221,449 $77.85

PROPERTY DESCRIPTION

Occupancy

$15,900,000 $15,260,000

88.02% 1987

Gross Leasable Area

196,006 SF

Lot Size

18.57 Acres

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

2

TABLE OF ASSUMPTIONS

NORTHGATE PLAZA

Table of Assumptions

FINANCIAL ANALYSIS

PROPERTY DESCRIPTION & TIMING

Northgate Plaza Name of Project: Project Address:

Northgate Plaza 507 North Highway 77 Waxahachie, TX 75165 196,006 SF 88.02%

Property Size: Occupancy:

PROPERTY CASH FLOW ANALYSIS Sales/Listing Price: Sales/Listing Price per SF: As-Is Static Income: As is Return (In-Place NOI/Sales Price):

$1,829,728 7.25% $25,237,628 1.50% $378,564

Unleveraged Proceeds: Capital Proceeds BEFORE Debt Capital Proceeds (BEFORE Debt) Price per SF 10 Year IRR

$24,859,063 $126.83 SF 11.74%

Leveraged Proceeds: Less End of Year Outstanding Loan Balance Capital Proceeds AFTER Debt Capital Proceeds (AFTER Debt) Price per SF 10 Year IRR

$9,238,681 $15,620,382 $79.69 SF 22.77%

June-2017 May-2027 10 Years

LEVERAGE SUMMARY - DEBT/FINANCING Proposed or Existing: Original Loan Amount: Loan-to-Sales Price Ratio: Interest Rate: Years to Maturity: Term: Amortization Period: Origination Fee Loan Constant: Annual Debt Service Payment: Maturity: Outstanding Loan Balance at Maturity:

Proposed $11,445,000 75.00% 4.75% 10 Years 30 Years 30 Years 0.75% $85,838 6.26% $716,430 12/31/2026 $9,238,681

Purchase Price Total Initial Loan Principal Total Initial Loan Fees Equity Required

$15,260,000 $11,445,000 $85,838 $3,900,838

PROPERTY DESCRIPTION

Year 11 Net Operating Income: Residual Capitalization Rate: Year 10 Gross Resale Price: Cost of Resale: Resale Costs:

$15,260,000 $77.85 $1,221,449 8.00%

Start of Analysis: End of Analysis: Analysis Period:

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

3

10 Yr.NORTHGATE Cash FlowPLAZA

10 YEAR CASH FLOW As-Is Static

Yr. 1

Year 1

Year 2

Year 3

Year 4

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

Income

PSF

May-2018

May-2019

May-2020

May-2021

May-2022

May-2023

May-2024

May-2025

May-2026

May-2027

89.25%

96.47%

95.08%

97.08%

96.72%

96.26%

96.58%

97.64%

94.41%

92.48%

1.08%

5.25%

4.04%

19.98%

11.54%

10.62%

15.18%

0.00%

15.59%

Average Occupancy: Initial Tenant Expiration: Gross Potential Rent

$8.06

Absorption, TO Vacancy & Free Rent Scheduled Base Rental Revenue Total Expense Recoveries / Other

($1.25) $1,383,132

$8.06

$1,580,461 ($244,475) $1,335,986

$1,648,285 ($105,938) $1,542,347

$1,684,978 ($119,876) $1,565,102

$1,726,996 ($93,684) $1,633,312

$1,765,924 ($133,397) $1,632,527

$1,831,736 ($145,705) $1,686,031

$1,892,104 ($150,587) $1,741,517

$1,914,269 ($72,983) $1,841,286

$1,947,475 ($150,451) $1,797,024

15.04% $2,018,736 ($249,612) $1,769,124

$340,622

$1.75

$343,547

$391,046

$396,645

$413,229

$422,374

$428,277

$439,981

$456,598

$510,713

$501,614

POTENTIAL GROSS INCOME

$1,723,754

$8.57

$1,679,533

$1,933,393

$1,961,747

$2,046,541

$2,054,901

$2,114,308

$2,181,498

$2,297,884

$2,307,737

$2,270,738

EFFECTIVE GROSS REVENUE

$8.57

$1,679,533

$1,933,393

$1,961,747

$2,046,541

$2,054,901

$2,114,308

$2,181,498

$2,297,884

$2,307,737

$2,270,738

$36,136

$0.18

$36,136

$36,858

$37,596

$38,347

$39,114

$39,897

$40,695

$41,508

$42,339

$43,185

General & Administrative (NR)

$19,204

$0.10

$19,204

$19,588

$19,980

$20,379

$20,787

$21,202

$21,626

$22,059

$22,500

$22,950

Direct Bill - Water (NR)

$17,142

$0.09

$17,142

$17,485

$17,834

$18,191

$18,555

$18,926

$19,304

$19,690

$20,084

$20,486

$4,380

$0.02

$4,380

$4,468

$4,557

$4,648

$4,741

$4,836

$4,933

$5,031

$5,132

$5,235

$240,922

$1.24

$242,930

$247,788

$252,744

$257,799

$262,955

$268,214

$273,578

$279,050

$284,631

$290,323

Insurance

$19,322

$0.10

$19,322

$19,655

$19,901

$20,498

$21,113

$21,747

$22,399

$23,071

$23,763

$24,476

Utilities

$21,760

$0.11

$21,760

$22,607

$22,976

$23,556

$24,006

$24,457

$24,967

$25,534

$25,835

$26,218

$1,008

$0.01

$1,008

$1,029

$1,049

$1,070

$1,091

$1,113

$1,136

$1,158

$1,181

$1,205

R&M

$31,464

$0.16

$31,464

$32,093

$32,735

$33,390

$34,058

$34,739

$35,434

$36,142

$36,865

$37,602

Cleaning

$33,398

$0.17

$33,398

$34,066

$34,747

$35,442

$36,151

$36,874

$37,612

$38,364

$39,131

$39,914

Management Fee

$77,569

$0.39

$75,579

$87,003

$88,279

$92,094

$92,471

$95,144

$98,167

$103,405

$103,848

$102,183

$502,305

$2.56

$502,323

$522,640

$532,398

$545,414

$555,042

$567,149

$579,851

$595,012

$605,309

$613,777

$1,221,449

$6.01

$1,177,210

$1,410,753

$1,429,349

$1,501,127

$1,499,859

$1,547,159

$1,601,647

$1,702,872

$1,702,428

$1,656,961

Tenant Improvements

$70,033

$200,926

$211,704

$59,753

$166,040

$142,248

$205,500

$57,429

$263,842

$354,033

Leasing Commissions

$29,357

$52,312

$62,660

$21,287

$49,453

$43,606

$73,779

$15,520

$57,581

$115,207

Total Capital Expenditures

$29,646

$30,239

$30,844

$31,460

$32,090

$32,731

$33,386

$34,054

$34,735

$35,430

Total Leasing & Capital Costs

$129,036

$283,477

$305,208

$112,500

$247,583

$218,585

$312,665

$107,003

$356,158

$504,670

Taxes

General & Administrative

TOTAL EXPENSES NET OPERATING INCOME

NET CASH FLOW BEFORE DEBT SERVICE

$1,127,276

$1,124,141

$1,388,627

$1,252,276

$1,328,574

$1,288,982

$1,595,869

$1,346,270

$1,152,291

$539,826

$531,252

$522,262

$512,835

$502,951

$492,587

$481,720

$470,325

$458,377

$445,850

Principal Payments

$176,605

$185,179

$194,169

$203,595

$213,479

$223,843

$234,710

$246,105

$258,053

$270,581

$716,430

$716,430

$716,430

$716,430

$716,430

$716,430

$716,430

$716,430

$716,430

$716,430

$331,744

$410,846

$407,711

$672,197

$535,846

$612,144

$572,552

$879,439

$629,840

$435,861

Total Debt Service NET CASH FLOW AFTER DEBT SERVICE

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

MARKET OVERVIEW

$1,048,174

Interest Payments

PROPERTY DESCRIPTION

$1,723,754

Grounds

Utilities - Vacant

FINANCIAL ANALYSIS

196006

4

Rent Roll

RENT ROLL

NORTHGATE PLAZA % OF NRA

$7,376 /mo.

BASE RENT ANNUAL

5.64%

Century 21 Suite: 0210

4,289

2.19%

10/1/2007 - 6/30/2022

$3,395 /mo.

Big Lots Suite: 0300

30,166

15.39%

11/1/2012 - 1/31/2020

Faith Armory Suite: 0404

2,400

1.22%

Briar Patch #3 Suite: 0406

3,600

Gigi's Salon Suite: 0408

$88,512 /yr.

DATE

REIMBURSEMENT METHOD COMMENTS

Net

8.00 /sf

8.16 /sf 8.32 /sf 8.49 /sf 8.66 /sf 8.83 /sf

Jan-2018 Jan-2019 Jan-2020 Jan-2021 January-22

$40,746 /yr.

9.50 /sf

9.78 /sf 10.08 /sf 10.38 /sf 10.69 /sf

Jul-2018 Jul-2019 Jul-2020 Jul-2021

$11,312 /mo.

$135,747 /yr.

4.50 /sf

10/23/2015 - 3/31/2021

$2,300 /mo.

$27,600 /yr.

11.50 /sf

1.84%

6/1/2010 - 5/31/2019

$2,340 /mo.

$28,080 /yr.

7.80 /sf

1,983

1.01%

11/3/2015 - 3/31/2021

$1,818 /mo.

$21,813 /yr.

11.00 /sf

12.00 /sf

Dec-2018

Std NNN + 15%

12,713

6.49%

3/1/2015 - 5/31/2025

$5,604 /mo.

$67,252 /yr.

5.29 /sf

5.63 /sf

Jun-2018

None

Std NNN + 15%

Big Lots - Tenant Specific

12.00 /sf 12.50 /sf 13.00 /sf 13.00 /sf

Nov-2017 Nov-2018 Nov-2019 Nov-2019

Std NNN + 15%

Std NNN + 15%

MARKET OVERVIEW

Freedom Fellowship Suite: 0410

11,064

$ PSF/YR INCREASE

PROPERTY DESCRIPTION

5/1/2017 - 4/30/2023

MONTHLY

Garcias SuperMarket Suite: 0200

LEASE COMM. EXP.

FINANCIAL ANALYSIS

NRA

TENANT NAME

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

5

Rent Roll PLAZA NORTHGATE

RENT ROLL

2,119

% OF NRA

1.08%

Dr. Singleton Suite: 0512

1,400

Dr. Singleton (Expansion) Suite: 0514

LEASE COMM. EXP.

9/1/2012 - 8/31/2017

MONTHLY

$2,472 /mo.

BASE RENT ANNUAL

0.71%

11/1/2009 - 10/31/2018

$1,482 /mo.

$17,780 /yr.

12.70 /sf

13.08 /sf

Nov-2017

Std NNN + 15%

1,003

0.51%

1/1/2012 - 10/31/2018

$1,062 /mo.

$12,738 /yr.

12.70 /sf

13.08 /sf

Nov-2017

Std NNN + 15%

Express Personnel Suite: 0516

1,445

0.74%

12/1/2008 - 11/30/2019

$1,746 /mo.

$20,953 /yr.

14.50 /sf

Livingston Hearing Aid Suite: 0602

1,792

0.91%

8/3/2015 - 8/31/2020

$1,867 /mo.

$22,400 /yr.

12.50 /sf

Tranquility Salon & Spa Suite: 0604

1,775

0.91%

7/22/2015 - 7/31/2020

$1,837 /mo.

$22,046 /yr.

12.42 /sf

Std NNN + 15%

Sun Yur Bunz Suite: 0610

2,868

1.46%

11/1/2010 - 9/30/2019

$3,227 /mo.

$38,718 /yr.

13.50 /sf

Std NNN + 15%

$29,666 /yr.

$ PSF/YR INCREASE 14.00 /sf

DATE

REIMBURSEMENT METHOD COMMENTS

FINANCIAL ANALYSIS

DB Computers Suite: 0510

NRA

TENANT NAME

Std NNN + 15%

PROPERTY DESCRIPTION

Std NNN + 15%

13.50 /sf

Sep-2017

Std NNN + 15%

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

6

Rent Roll

RENT ROLL

NORTHGATE PLAZA

1,800

% OF NRA

0.92%

Fruteria Chely Suite: 0614

1,125

Vacant Suite: 0616 - LOI

LEASE COMM. EXP.

$2,025 /mo.

BASE RENT ANNUAL

0.57%

10/1/2017 - 3/31/2021

$1,125 /mo.

4,320

2.20%

5/15/2017 - 11/14/2022

29,475

15.04%

Aaron Rents Suite: 0716

6,472

Farmers Insurance Suite: 0800

$ PSF/YR INCREASE

DATE

REIMBURSEMENT METHOD COMMENTS

13.50 /sf

14.00 /sf

Nov-2017

Std NNN + 15%

$13,500 /yr.

12.00 /sf

12.50 /sf 13.00 /sf

Oct-2018 Oct-2019

Std NNN + 15%

$4,680 /mo.

$56,160 /yr.

13.00 /sf

13.33 /sf 13.66 /sf 14.00 /sf 14.35 /sf

Nov-2018 Nov-2019 Nov-2020 Nov-2021

Std NNN + 15%

7/1/2016 - 12/31/2026

$11,667 /mo.

$140,006 /yr.

4.75 /sf

5.50 /sf

Sep-2021

Std NNN + 15%

3.30%

9/1/2011 - 8/31/2021

$4,692 /mo.

$56,306 /yr.

8.70 /sf

1,580

0.81%

6/9/2015 - 6/30/2020

$1,712 /mo.

$20,540 /yr.

13.00 /sf

World Finance Corp Suite: 0804

1,864

0.95%

10/1/2007 - 7/31/2020

$2,447 /mo.

$29,358 /yr.

15.75 /sf

VACANT Suite: 0812

5,380

2.74%

12/1/2018 - 11/30/2023

$5,380 /mo.

$64,560 /yr.

12.00 /sf

Urban Air Suite: 0700

$24,300 /yr.

PROPERTY DESCRIPTION

11/1/2013 - 10/31/2018

MONTHLY

FINANCIAL ANALYSIS

Painting with a Twist Suite: 0612

NRA

TENANT NAME

Aaron Rents Tenant Specific

14.00 /sf 15.00 /sf 16.00 /sf

Jul-2017 Jul-2018 Jul-2019

Std NNN + 15%

World Finance - Tenant Specific

MARKET OVERVIEW

12.24 /sf 12.48 /sf 12.73 /sf 12.99 /sf

Dec-2019 Dec-2020 Dec-2021 Dec-2022

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

7

Rent Roll RENT ROLL

NORTHGATE PLAZA

0.66%

Pinnacle Anesthesia Suite: 0902

2,800

1.43%

Exclusive Vacations Suite: 0904

2,659

Chick-fil-A Offices Suite: 0910

1/1/2014 - 12/31/2021

MONTHLY

$1,648 /mo.

BASE RENT ANNUAL

2/1/2012 - 1/31/2018

$3,967 /mo.

$47,600 /yr.

17.00 /sf

1.36% 10/10/2016 - 10/31/2021

$1,994 /mo.

$23,931 /yr.

9.00 /sf

1,364

0.70%

4/15/2017 - 4/14/2023

$1,677 /mo.

$20,119 /yr.

14.75 /sf

VACANT Suite: 0912

3,304

1.69%

6/1/2030 - 5/31/2035

$2,478 /mo.

$29,736 /yr.

9.00 /sf

Lashed Out Beauty Suite: 0914

1,196

0.61%

11/2/2015 - 5/31/2021

$1,146 /mo.

$13,754 /yr.

11.50 /sf

Bow Wow Barber Suite: 0916

1,896

0.97%

8/1/2012 - 1/31/2018

$1,580 /mo.

$18,960 /yr.

10.00 /sf

Eclipse Professional Services Suite: 0918

1,390

0.71%

6/1/2015 - 8/31/2018

$1,390 /mo.

$16,680 /yr.

12.00 /sf

14.40 /sf

July-17

VACANT Suite: 0920

1,812

0.92%

4/1/2018 - 3/31/2023

$1,963 /mo.

$23,556 /yr.

13.00 /sf

0.55%

7/9/2015 - 7/31/2020

$1,170 /mo.

13.26 /sf 13.53 /sf 13.80 /sf INCREASE 14.00 /sf 15.00 /sf 16.00 /sf

Apr-2019 Apr-2020 Apr-2021 DATE Aug-2017 Aug-2018 Aug-2019

D & K Salons Suite: 0922

Buffet City Suite: 0950

NRA

1,080

10,407

LEASE COMM. EXP.

MONTHLY

$19,773 /yr.

BASE RENT ANNUAL

$14,040 /yr.

$ PSF/YR INCREASE 15.21 /sf

$ PSF/YR 13.00 /sf

15.59 /sf 15.98 /sf 16.38 /sf 16.79 /sf

DATE

Jan-2018 Jan-2019 Jan-2020 Jan-2021

REIMBURSEMENT METHOD COMMENTS

Std NNN + 15%

Std NNN + 15%

9.23 /sf 9.46 /sf 9.69 /sf 9.93 /sf

Nov-2017 Nov-2018 Nov-2019 Nov-2020

Std NNN + 15%

Std NNN + 15%

12.00 /sf 12.50 /sf 13.00 /sf

Nov-2017 Nov-2018 Nov-2019

Std NNN + 15%

Std NNN + 15%

MARKET OVERVIEW

TENANT NAME

% OF NRA

LEASE COMM. EXP.

PROPERTY DESCRIPTION

1,300

% OF NRA

FINANCIAL ANALYSIS

Springleaf Financial Suite: 0900

NRA

TENANT NAME

Rent Roll

Std NNN + 15%

Std NNN + 15%

REIMBURSEMENT METHOD COMMENTS

Std NNN + 15%

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References $14.85orNNN 5.31% - 10/31/2022 $6,071 7.00 /sf 7.50 /sf Oct-2017 to square footage10/1/2012 or age are approximate.

Buyer must verify /mo. the information$72,849 and bears/yr. all risk for any inaccuracies.

Any projections, opinions, assumptions estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

8

TENANT NAME

D & K Salons Suite: 0922

NRA

1,080

% OF NRA

0.55%

LEASE COMM. EXP.

7/9/2015 - 7/31/2020

MONTHLY

$1,170 /mo.

BASE RENT ANNUAL

$14,040 /yr.

$ PSF/YR INCREASE 13.00 /sf

RENT ROLL

DATE

REIMBURSEMENT METHOD COMMENTS

14.00 /sf 15.00 /sf 16.00 /sf

Aug-2017 Aug-2018 Aug-2019

Std NNN + 15%

NORTHGATE PLAZA

5.31%

10/1/2012 - 10/31/2022

$6,071 /mo.

$72,849 /yr.

7.00 /sf

7.50 /sf

Oct-2017

$14.85 NNN

VACANT Suite: 0955

4,842

2.47%

6/1/2018 - 5/31/2023

$3,498 /mo.

$41,980 /yr.

8.67 /sf

8.84 /sf 9.02 /sf 9.20 /sf 9.38 /sf

Jun-2019 Jun-2020 Jun-2021 Jun-2022

Std NNN + 15%

VACANT Suite: 1000

3,826

1.95%

6/1/2018 - 5/31/2023

$4,553 /mo.

$54,635 /yr.

14.28 /sf

14.57 /sf 14.86 /sf 15.15 /sf 15.46 /sf

Jun-2019 Jun-2020 Jun-2021 Jun-2022

Std NNN + 15%

Verizon Wireless Suite: 1100

3,500

1.79%

3/1/2010 - 5/31/2021

$4,521 /mo.

$54,250 /yr.

15.50 /sf

15.88 /sf 16.28 /sf 16.69 /sf

Jun-2018 Jun-2019 Jun-2020

Std NNN + 15%

PROPERTY DESCRIPTION

10,407

FINANCIAL ANALYSIS

Buffet City Suite: 0950

Rent Roll Liberty Tax Suite: 1100A

1,464

0.75%

TENANT NAME

NRA

% OF NRA

Game X Change Suite: 1100B Freedom Fellowship Intl Suite: 1300 TENANT NAME Elf Shoe Repair Suite: 1100C

1,800

0.92%

17,840

NRA

9.10% % OF NRA 0.46%

17,840

21.40 /sf 22.40 /sf 23.40 /sf 24.40 /sf 25.40 /sf INCREASE 26.40 /sf 20.91 /sf 21.54 /sf 22.18 /sf 3.75 /sf 22.85 /sf

Jan-2018 Jan-2019 Jan-2020 Jan-2021 Jan-2022 DATE Jan-2023 Jan-2018 Jan-2019 Jan-2020 Jun-2018 Jan-2021

Std NNN + 15%

3.50 /sf

3.75 /sf

Jun-2018

None

$34,878 /yr.

17.50 /sf

18.00 /sf 18.50 /sf 19.00 /sf

Jun-2018 Jun-2019 Jun-2020

Tenant-specific

$78,025 /mo. $22,552 /mo. $100,577 /mo.

$1,341,739 /yr. $270,627 /yr. $1,612,367 /yr.

$7.78 /sf $11.52 /sf $8.23 /sf

$78,025 /mo. $22,552 /mo. $100,577 /mo.

$1,341,739 /yr. $270,627 /yr. $1,612,367 /yr.

$7.78 /sf $11.52 /sf $8.23 /sf

$29,866 /yr.

MONTHLY

BASE RENT ANNUAL

9/1/2010 - 1/30/2022

$3,045 /mo.

$36,540 /yr.

20.30 /sf

4/1/2010 - 5/31/2025

$5,203 /mo.

3.50 /sf

11/1/2010 - 11/30/2020

MONTHLY

$1,500 /mo.

$62,440 /yr.

BASE RENT ANNUAL

9.10%

4/1/2010 - 5/31/2025

$5,203 /mo.

$62,440 /yr.

1,993

1.02%

6/1/2011 - 5/31/2021

$2,906 /mo.

TOTAL OCCUPIED TOTAL VACANT OVERALL TOTAL

172,522 23,484 196,006

88.02% 11.98% 100.00%

TOTAL OCCUPIED TOTAL VACANT OVERALL TOTAL

172,522 23,484 196,006

88.02% 11.98% 100.00%

Freedom Fellowship Intl Suite: 1300 Schlotzsky's Deli Suite: 1201

900

LEASE COMM. EXP.

LEASE COMM. EXP.

$18,000 /yr.

20.40 /sf

$ PSF/YR

$ PSF/YR INCREASE 20.00 /sf

DATE

Rent Roll

REIMBURSEMENT METHOD COMMENTS Std NNN + 15% None

REIMBURSEMENT METHOD COMMENTS

Std NNN + 15%

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

MARKET OVERVIEW

$2,489 /mo.

1/1/2017 - 4/30/2023

9

LeaseNORTHGATE Provisions PLAZA

LEASE PROVISIONS

NOTES 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

Century 21

No remaining options

Big Lots

Three 5-year options @ $5.23 psf/yr, $5.75 psf/yr, & $6.32 psf/yr

5% cap on controllable CAM; Co-Tenancy: If shopping center occupancy drops below 65%, Tenant may pay Alternate Rent (50% of fixed minimum rent) or terminate w 90 days notice. If Tenant has not terminated w/in 12 months of paying Alternate Rent, tenant is to resume paying full rent.; Tenant has Exclusive on general merchandise, discount store, liquidator, closeout store, furniture store, or dollar store operation ("Competing Business"). Examples of Competing Business shall include without limitation: Dollar General, Dollar General Market, Dollar Tree, Encore, Family Dollar, 99 Cents Only (and any store with the word 99 Cent in its name), Deals, Save-A-Lot, Marc's, Fred's. Super 10, Maxway, Mazel, Odd Job, Amazing Savings, Ocean State Job Lot, Grossman's, Bargain Outlet, Greenbacks, Kings Discount, Building 19, National Wholesale Liquidators, Dollar Dreams, Christmas Tree Shops, Five Below, Encore and Ollie's Bargain Outlet.

Faith Armory

No remaining options

8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

Briar Patch #3

No remaining options

Exclusive: LL shall not lease a portion of the Shopping Center to a tenant that primarily sells greeting cards.

Gigi's Salon

No options

8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

Freedom Fellowship

Two, 5-year options at FMV

Gross Lease structure

DB Computers

No remaining options

Dr. Singleton

No remaining options

Express Personnel

No remaining options

Livingston Hearing Aid

Two, 5-year options; 1st at $14.85 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or psf/yr; and 2nd at FMV HVAC maintenance or repair expenses.

Tranquility Salon & Spa

One, 5-year options at $14.85 psf/yr

8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utitlity charges, insurance, snow removal or HVAC maintenance or repair expenses.

Sun Yur Bunz

One, 5-year option at $13.50

8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses. Exclusive: LL shall not lease any space within the Shopping Center to another tenant whose primary business is as a tanning salon providing tanning bed and sunless-spray tanning services; or who as it's primary use the right to sell the following tanning products: Designer Skin, Supre Tan, Australian Gold, Swedish Beauty, Versa Spa, Ultimate, and Perfomance Brands.

PROPERTY DESCRIPTION

RENEWAL OPTIONS Two, 7-year options at FMV

FINANCIAL ANALYSIS

TENANT Garcias SuperMarket

Exclusive: LL shall not lease any space within the Shopping Center to another tenant whose primary business is dentistry.

MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

10

LeaseNORTHGATE Provisions PLAZA

LEASE PROVISIONS

RENEWAL OPTIONS One, 5-year option at FMV

FINANCIAL ANALYSIS

TENANT Painting with a Twist

NOTES 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utitlity charges, insurance, snow removal or HVAC maintenance or repair expenses.

Fruteria Chely

Tenant took space in "as is" condition and paid for their own tenant improvements, hence the below market rental rate.

Vacant (LOI)

Six month rent abatement. $13.00 per sf beginning Nov-2017.

Two, 5-year options at FMV

5% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utitlity charges, insurance, snow removal or HVAC maintenance or repair expenses. Exclusive: LL shall not execute any lease for space within the Shopping Center with a tenant whose Principal Business Activity is the operation of (a) an indoor trampoline park, including a large foam pit, indoor slam dunk track, and ropes cours, (b) a laser tag operation, (c) a children's bounce house operation, or (d) a gaming arcade ("Exclusive Use") and that Tenant shall have the exclusive right within the Shopping Center to the Exlusive Use.

Aaron Rents

One, 5-year option at $10.25

10% cap on NNN's including CAM, RE Taxes & Insurance, over prior year

Farmers Insurance

None

8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

World Finance Corp

No remaining options

10% cap on Management Fee

Springleaf Financial

No remaining options

Pinnacle Anesthesia

No remaining options

Exclusive Vacations

None

Chick-fil-A Offices

None

Lashed Out Beauty

None

Bow Wow Barber

None

Eclipse Professional Services

One, 2-year option at FMV

D & K Salons

None

PROPERTY DESCRIPTION

Urban Air

8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utitlity charges, insurance, snow removal or HVAC maintenance or repair expenses.

MARKET OVERVIEW

8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

11

LeaseNORTHGATE Provisions PLAZA

LEASE PROVISIONS

Verizon Wireless

Two, 5-year options each with a 2.5% increase

Liberty Tax

None

8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utitlity charges, insurance, snow removal or HVAC maintenance or repair expenses. Exclusive: LL shall not enter into an agreement for a tenant with whose primary business is tax preparation.

Game X Change

One, 5-year option at FMV

8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

Elf Shoe Repair

Two, 5-year options; 1st at $20.70 psf/yr; 2nd at $23.80 psf/yr

Schlotzsky's Deli

One, 5-year option at FMV

8% cap on controllable CAM

Freedom Fellowship Intl

Two, 5-year options at FMV

Gross Lease structure

PROPERTY DESCRIPTION

RENEWAL OPTIONS NOTES Two, 5-year options; 1st at $14.85 Exclusive: LL shall not enter into an agreement for space in the Shopping Center with a restaurant, the primary business of which psf/yr; and 2nd at FMV is the sale of Asian themed food (generating more than 15% of its revenue from the retail sale of Asian food).

FINANCIAL ANALYSIS

TENANT Buffet City

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

12

NORTHGATE Tenant Rollover SchedulePLAZA

TENANT ROLLOVER SCHEDULE

20

FINANCIAL ANALYSIS

100%

16

80%

70% 12

60%

50% 40% 30% 20%

1.1%

10% 0%

8

20.0%

May-2018

5.2%

11.5%

4.0%

May-2019

May-2020

May-2021

May-2022

10.6% May-2023

Percentage of Square Footage Expiring

TENANT

SQ. FT.

% OF TOTAL

510 1 Tenants Expiring

Aug-17

2,119 2,119

1.08% 1.08%

512/514 612 902 918 916 5 Tenants Expiring

Oct-18 Oct-18 Jan-18 Aug-18 Jan-18

2,403 1,800 2,800 1,390 1,896 10,289

1.23% 0.92% 1.43% 0.71% 0.97% 5.25%

406 516 610 3 Tenants Expiring

May-19 Nov-19 Sep-19

3,600 1,445 2,868 7,913

1.84% 0.74% 1.46% 4.04%

300 602 604 800 804 922 1100C 7 Tenants Expiring

Jan-20 Aug-20 Jul-20 Jun-20 Jul-20 Jul-20 Nov-20

30,166 1,792 1,775 1,580 1,864 1,080 900 39,157

15.39% 0.91% 0.91% 0.81% 0.95% 0.55% 0.46% 19.98%

*DB Computers is vacating at the end of their term 8/31/17.

May-2026

May-2027

4

0.0% May-2024

May-2025

0

Number of Tenants Expiring

TENANT Year 5 Faith Armory Gigi's Salon Aaron Rents Springleaf Financial Exclusive Vacations Lashed Out Beauty Verizon Wireless Schlotzsky's Deli Fruteria Chely Year End - May-22 Year 6 Century 21 Vacant - LOI Buffet City Game X Change Year End - May-23 Year 7 Garcias SuperMarket VACANT Chick-fil-A VACANT VACANT VACANT Liberty Tax Year End - May-24 Year 8 None Year End - May-25 Year 9 Freedom Fellowship Year End - May-26 Year 10 Urban Air Year End - May-26

SUITE

EXP.

SQ. FT.

% OF TOTAL

404 408 716 900 904 914 1,100 1,201 614 9 Tenants Expiring

Mar-21 Mar-21 Aug-21 Dec-21 Oct-21 May-21 May-21 May-21 Mar-21

2,400 1,983 6,472 1,300 2,659 1,196 3,500 1,993 1,125 22,628

1.22% 1.01% 3.30% 0.66% 1.36% 0.61% 1.79% 1.02% 0.57% 11.54%

210 616 950 1100B 4 Tenants Expiring

Jun-22 Nov-22 Oct-22 Jan-22

4,289 4,320 10,407 1,800 20,816

2.19% 2.20% 5.31% 0.92% 10.62%

200 812 910 920 955 1,000 1100A 7 Tenants Expiring

Dec-23 Nov-23 Apr-23 Mar-23 May-23 May-23 Apr-23

11,064 5,380 1,364 1,812 4,842 3,826 1,464 29,752

5.64% 2.74% 0.70% 0.92% 2.47% 1.95% 0.75% 15.18%

0

0.00%

0 Tenants Expiring 410/1300 1 Tenants Expiring

May-25

30,553 30,553

15.59% 15.59%

700 1 Tenants Expiring

Dec-26

29,475 29,475

15.04% 15.04%

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

MARKET OVERVIEW

Big Lots Livingston Hearing Aid Tranquility Salon & Spa Farmers Insurance World Finance Corp D & K Salons Elf Shoe Repair Year End - May-21

EXP.

15.0%

PROPERTY DESCRIPTION

Year 1 * DB Computer Solutions Year End - May-18 Year 2 Dr. Singleton Painting with a Twist Pinnacle Anesthesia Eclipse Professional Services Bow Wow Barber Year End - May-19 Year 3 Briar Patch #3 Express Personnel Sun Yur Bunz Year End - May-20 Year 4

SUITE

15.6%

15.2%

Number of Tenants

% of Total Project Sq. Ft.

90%

13

TENANT INFORMATION

NORTHGATE PLAZA

Company Ownership Rating Agency Ticker Symbol Big Lots is a unique, non-traditional, discount retailer offering brand-name closeouts and bargains that create a unique, exciting shopping experience for millions of customers. Big Lots offers a broad assortment of merchandise, including consumables, seasonal products, furniture, housewares, toys and gifts.

Exchange Market Cap Sales Volume Number of Locations Headquarters Website

Big Lots, Inc. Public BBB Standard & Poor’s BIG NYSE 2.18 Billion 5.2 Billion 1,400+ 49 Years

PROPERTY DESCRIPTION

Years In Business

FINANCIAL ANALYSIS

Tenant Summary

Columbus, OH www.biglots.com

Tenant Summary Company Ownership Rating

Private Not Rated

Agency

N/A

Ticker Symbol

N/A

Exchange

N/A

Market Cap

N/A

Sales Volume

N/A

Number of Locations

50+

Years In Business Headquarters Website

MARKET OVERVIEW

Urban Air Trampoline Park is the nation’s premier indoor trampoline and adventure park. Urban Air Trampoline Park offers a variety of trampoline activities on its wall-to-wall trampolines, foam pit, trampoline dodgeball, trampoline runway, slam dunk track and trampoline bowl.

Urban Air

6 Years Grapevine, TX www.urbanairtrampolinepark.com

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

14

TENANT INFORMATION

NORTHGATE PLAZA

Company Ownership Rating Agency Ticker Symbol Exchange Aaron’s is a leader in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories.

Market Cap Sales Volume Number of Locations Headquarters Website

Aaron’s Public Not Rated N/A AAN NYSE 2.44 Billion 3.18 Billion 2,100+ 61 Years

PROPERTY DESCRIPTION

Years In Business

FINANCIAL ANALYSIS

Tenant Summary

Atlanta, GA www.aarons.com

Tenant Summary Company Ownership Rating

Private Not Rated

Agency

N/A

Ticker Symbol

N/A

Exchange

N/A

Market Cap

N/A

Sales Volume

N/A

Number of Locations Years In Business Headquarters Website

MARKET OVERVIEW

Schlotzsky’s is an international sandwich franchise restaurant chain with locations in 35 states and three foreign countries. This quick service restaurant offers fresh baked bread, delicious hot sandwiches, Artisan flatbreads, specialty pizzas, toasted wraps, freshly tossed salads, gourmet soups, and more.

Schlotzsky’s

350+ 46 Years Atlanta, GA www.schlotzskys.com

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

15

INVESTMENT HIGHLIGHTS

NORTHGATE PLAZA

FINANCIAL ANALYSIS

• Sought After Value-Add Opportunity- Current Occupancy of 88.02% -Up of the Available 28,092 Square Feet Of Retail and Restaurant Space • Contractual Rent Increases- 48.2% Of The Current Tenant Line-Up Have Annual Rent Escalations Structured in Their Leases

PROPERTY DESCRIPTION

• Priced Below Replacement Cost- Opportunity to Acquire a Retail Asset at $78 Per Square Foot, Well Below Replacement Cost • National Tenancy- Strong Mix Of Nationally Recognized Retailers in Tenant Line-Up Representing 35% of the Current Revenue Including Big Lots, Verizon, Aaron’s, and Schlotsky’s Deli • Exceptional Freeway Access- Located Near The Crossroads Of Interstate 35E And US Hwy 287, Which Sees More Than 95,000 Cars Every Day

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

MARKET OVERVIEW

• Expanded Trade Area Demographics- Populations of 39,276 Residents Within a Five Mile Radius Increasing to More Than 109,763 Residents Within Ten Miles With 11.12% Growth

16

SITE PLAN

NORTHGATE PLAZA

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

17

AERIAL MAP

NORTHGATE PLAZA

87

Dallas

Hwy

In

te

rs

ta

PROPERTY DESCRIPTION

te

35

E

FINANCIAL ANALYSIS

SH 2

Waxahachie High School

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

18

LOCAL MAP

NORTHGATE PLAZA

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

19

REGIONAL MAP

NORTHGATE PLAZA

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

20

LEASE COMPARABLES

NORTHGATE PLAZA

Current Occupancy

Major Tenants

Available SF

Lease Rates (Quoted & Actual)

NNN

Northgate Plaza  507 N. Highway 77 Waxahachie, TX

196,006

1987

88.02%

Big Lots, Urban Air, Schlotzsky's, Verizon, Aarons, Farmers Insurance, Century 21

23,484

$12 - $20 - Inline $4.50 - $8 - Big Box

$3.07

1

University Plaza 401 N. Highway 77

71,801

1976 /1990

84.0%

Aldi, Burke's Outlet, Payless Shoes, Advance America, Mr. Jim's Pizza, Boost Mobile, Jackson Hewitt

11,473

$15.00 - Inline $8.00 - Big Box

$2.91

2

HEB Shopping Center 800 N. Highway 77

75,290

1998

100.0%

HEB (shadow), Cato, Great Clips, All Eye Optical

0

$19 - $22 -Inline

$5.25

3

The Marketplace at Waxahachie 791 N. Highway 77

100,044

2006

100.0%

Bealls Store, Burke's Outlet, Dollar Tree, Hastings, Hibbett Sports UPS Store, Rue 21

0

$16 - $18 - Inline $8 - $12 - Big Box

$6.20

4

Great Lakes Center Waxahachie 1035 Highway 77

14,880

2005

100.0%

Subway, GameStop, Domino's Pizza, Planet Beach Tanning Spa

0

$20- $28 - Inline

$7.46

5

Waxahachie Towne Center 1440 N. Highway 77

46,581

2004

82.7%

Lowe's (shadow),GNC, Sally Beauty, Fantastic Sams, Smoothiy Factory, FedEx Kinkos

8,044

$12 - $33 - Inline

$5.20

6

Waxahachie Towne Crossing 1431 N. Highway 77

211,438

2009

99.4%

Ross, JCPenney (shadow), Famous Footwear, AT&T, Milestone Dental

1,200

$22- $27 - Inline

$6.12

PROPERTY DESCRIPTION

Year Built/ Renovated

FINANCIAL ANALYSIS

GLA

Property

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

21

LEASE COMPARABLES

NORTHGATE PLAZA

FINANCIAL ANALYSIS

Northgate Plaza

1

University Plaza

2

HEB Shopping Center

3

Marketplace at Waxahachie

4

Great Lakes Center

5

Waxahachie Towne Center

6

Waxahachie Towne Crossing

6 5

PROPERTY DESCRIPTION

4 3

2

1

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

22

MARKET SUMMARY

NORTHGATE PLAZA

FINANCIAL ANALYSIS PROPERTY DESCRIPTION

WAXAHACHIE, TX Waxahachie, Texas is the county seat of Ellis County, Texas and lies just beyond the southern suburbs of Dallas. According to the 2010 census, the population of Waxahachie was 29,621, with an estimated population of 32,344 in 2014. The origin of the name “Waxahachie” is largely unknown but is said to possibly mean “cow” or “buffalo” in an unspecified Native American language according to some sources.

Companies such as Southwest Data Solutions are selecting downtown Waxahachie because of its excellent location and historic charm. The downtown area is actively being restored and redeveloped so commercial and residential space is available for businesses and family.

Other employment opportunities in the city are highly oriented towards industry. Owens Corning, Georgia-Pacific, Fortra Fiber Cement, GMP/GPPAW RockTenn, AEP Industries, Magnablend, Dart Container are located within a few miles of each other. Non-industrial employers include Baylor Scott & White Health, Waxahachie Independent School District, Walgreen Distribution Center, Wal-Mart, HEB Grocery, and Southwestern Assemblies of God University.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

MARKET OVERVIEW

Waxahachie is also known as the “Gingerbread City” due to the architecture of several homes and buildings remaining from before 1900. The city holds a yearly tour known as the Gingerbread Trail, which includes Victorian-style houses with gingerbread carpentry, the most popular architectural style, as well as combinations with Queen Ann’s, Classic Renaissance, or Roman Doric revival. The Nicholas P. Sims Library and the octagonally shaped Chautauqua Auditorium are examples of the 300 Waxahachie structures listed on the National Register of Historic Places. The most iconic building in Waxahachie is the red sandstone and granite Victorian courthouse, designed by James Riely Gordon and completed in

1897, in the town’s square. In the 1980s four movies were filmed in Waxahachie- Places in the Heart, Tender Mercies and The Trip to Bountiful. The town is home to the Ellis County Historical Museum and Gallery and also hosts the annual Scarborough Renaissance Faire and an annual Christmas parade and tour of homes.

23

DEMOGRAPHIC STATISTICS

1 Mile

3 Mile

5 Mile

10 Mile

10,671 10,069 9,555 5.98% 5.38% 2,171

32,051 30,061 27,541 6.62% 9.15% 7,556

41,922 39,292 35,848 6.69% 9.61% 9,625

116,019 108,492 97,616 6.94% 11.14% 22,701

8,668 1,062 80 78 12 168 0

25,031 3,990 230 233 44 534 2

33,249 4,753 285 269 56 680 9

93,431 11,401 866 808 118 1,868 53

4,000 3,778 3,615 5.88% 4.51% 1,881 1,897 $59,739 $48,438

11,344 10,640 9,797 6.62% 8.60% 6,179 4,461 $65,138 $52,471

14,597 13,678 12,521 6.72% 9.24% 8,733 4,945 $70,417 $55,803

39,122 36,557 32,908 7.02% 11.09% 28,151 8,405 $84,569 $69,823

851 1,119 695 576 257 128 121 30

2,191 2,889 1,933 1,748 786 513 432 146

2,575 3,559 2,612 2,136 1,005 752 710 328

5,071 7,795 6,764 6,256 3,520 2,657 2,983 1,512

FINANCIAL ANALYSIS

Radius

NORTHGATE PLAZA

Population: 2021 Projection 2016 Estimate 2010 Census Growth 2016-2021 Growth 2010-2016 2016 Population Hispanic Origin

2016 Population by Race:

PROPERTY DESCRIPTION

White Black Am. Indian & Alaskan Asian Hawaiian & Pacific Island Other U.S. Armed Forces:

Households: 2021 Projection 2016 Estimate 2010 Census Growth 2016 - 2021 Growth 2010 - 2016 Owner Occupied Renter Occupied 2016 Avg Household Income 2016 Med Household Income

2016 Households by Household Inc:

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

MARKET OVERVIEW

<$25,000 $25,000 - $50,000 $50,000 - $75,000 $75,000 - $100,000 $100,000 - $125,000 $125,000 - $150,000 $150,000 - $200,000 $200,000+

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CONFIDENTIALITY AGREEMENT The information contained in the following offering memorandum is proprietary and strictly confidential.

It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE. This offering memorandum has been prepared to provide summary, unverified financial and physical 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. STRIVE 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, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenantâ&#x20AC;&#x2122;s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.

Net Lease Disclaimer STRIVE hereby advises all prospective purchasers of Net Leased property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

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Information About Brokerage Services

efore working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain

the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction: (1) shall treat all parties honestly; (2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner; (3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and (4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.

With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.

If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

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