UNDER CONSTRUCTION AVAILABLE MAR 2017 GATEWAY GLOBAL LOGISTICS CENTER SPEC BUILDING IV. Marshall County, MS. Developed by:

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1 GATEWAY GLOBAL LOGISTICS CENTER SPEC BUILDING IV Marshall County, MS UNDER CONSTRUCTION AVAILABLE MAR 2017 Developed by:

2 It is very unique that an industrial development offers sites in two states and counties...this will create a very rare advantage for industrial users as they explore state and local incentives. Jim Mercer CBRE, Inc. We are seeing very positiveactivity in markets with strong logistics fundamentals, and Memphis is one of those. This location, coupled with Norfolk Southern s new interm odal facility, is very attractive to industrial and warehousing tenants. Whitfield Hamilton Panattoni Development 615,600 SQ. FT. AVAILABLE MARCH 2017 Gateway Global Logistics Center is a 1,500 acre industrial site located in both Fayette County, TN and Marshall County, MS. GGLC is adjacent to the Norfolk Southern intermodal terminal that opened in July of Access is via Highway 72, Highway 302 and the new Wingo Rd. extension. The park is also approximately 2 miles from the I-269 interchange at Goodman Rd. which opened in October In the last two and a half years, Panattoni has completed a million square foot facility for Volvo, a 677,500 square foot facility for Post Consumer Brands and started construction on a 1.5 million square foot facility for Tire and Battery Corp. These projects total 3.2 million square feet, $162 million capital investment and 450 jobs. On the heels of these projects, construction has begun on a new speculative warehouse which will be 615,600 square feet. This building is designed as a two tenant building with store fronts and parking on both the east and the west end of the building. Site work will begin June 1, 2016 and delivery is scheduled for March 2017.

3 SPEC BUILDING IV AVAILABILITY 615,600 (1080 x 570 ) Cross-docked 39.5 acres Light industrial zoning 36 clear height 54 x 50 column spacing 54 x 60 speed bay along dock area Concrete tilt wall construction 87 insulated dock doors with bumpers, seals & 30,000 lb. levelers 2 drive-in doors 261 car parking spots (129 west and 132 east) 151 trailer parking spots 30 Foot Candle T-5 Lighting with Motion Sensors ESFR sprinkler Direct access to I-385 via Hwy 72 (4 miles) Direct access to I-269 via Wingo Rd. & Hwy 302 SPEC BUILDING IV SITE PLAN NORTH

4 SPEC III G AT E WAY G LO B A L LO G I S T I C S C E N T E R L O C AT I O N SPEC IV LO C AT I O N B E N E F I T S : 3 miles to I-269 via Hwy 72 9 miles (12 minutes) to Highway 78/I miles (20 minutes) to I miles (32 minutes) to I miles (24 minutes) to BNSF Railway via I-385 I-269 open to I-385 4Q 2015, open to I-55 1Q miles (30 minutes) to Memphis International Airport via I-385/I-240 Highway 72: 4 lane widening project begins 5/2016, 3Q 2017 completion

5 WHY INTERMODAL When the Crescent Corridor initiative is fully implemented, it is anticipated that 1.3 million truckloads of freight will be absorbed from the highways to the rails annually, saving the U.S. 169 million gallons of fuel per year, reducing carbon emissions by 1.9 million tons, and generating a projected 73,000 jobs by Norfolk Southern constructed a new intermodal facility to serve the Memphis region near Rossville, TN in Fayette County. This new facility opened in July 2012 and feeds directly into Gateway Global Logistics Center. The $105 million terminal, where freight is transferred between trucks and trains, is attracting significant economic growth in the surrounding areas. This new intermodal facility is part of Norfolk Southern s Crescent Corridor initiative. The Crescent Corridor is an existing 2,500 mile railroad route from New Jersey to Memphis and beyond to New Orleans. It is one of the single biggest additions of new freight capacity in America since the creation of the Interstate Highway System. COMBINING THE FLEXIBILITY OF ROAD WITH THE DEPENDABILITY OF RAIL Located 2 miles north of Highway 72 and 1 mile south of State Route 57 Capacity to handle more than 200,000 truck trailers and shipping containers annually 1,000 paved trailer/container parking spaces Environmentally designed to minimize light and sound Automated gate and terminal technology that will reduce wait time entering and exiting the facility and help lower emissions

6 GREATER MEMPHIS MARKET Incentive Basics Operating Expense Comparison MARSHALL CTY, MS DESOTO CTY, MS SHELBY CTY, TN FAYETTE CTY, TN Taxes - Unabated $0.50/SF $0.55-$0.65/SF $0.80-$0.85/SF $0.37/SF TOTAL OpEx $0.78/SF $0.85-$0.90/SF $1.10-$1.20/SF $0.67-$0.72/SF Taxes Abated* $0.22/SF $0.33/SF-$0.45/SF $0.20-$0.25/SF $0.02/SF TOTAL OpEx (w/abatement) $0.50/SF $0.58/SF-$0.75/SF $0.50-$0.60/SF $0.32-$0.37/SF Abatement term 10 year exemption 10 year exemption 10 year abatement (with Fast Track Pilot) Max up to 15 year exemption STATE INCOME TAX 10 year exemption MARSHALL CTY, MS Yes 3% of first $5,000; 4% of next $5,000; 5% over $10,000 DESOTO CTY, MS Yes 3% of first $5,000; 4% of next $5,000; 5% over $10,000 SHELBY CTY, TN FAYETTE CTY, TN No No STATE INVENTORY TAX MARSHALL CTY, MS None Freeport Warehouse Exemption for the life of the project. *Potentially willing to match Fayette Cty incentives on case by case basis. Tier III County DESOTO CTY, MS None Freeport Warehouse Exemption for the life of the project. Tier I County SHELBY CTY TN Yes $0.25/$100 of finished goods capped at $75,000/year ($30M inventory) FAYETTE CTY, TN Yes $0.25/$100 of finished goods capped at $75,000/year ($30M inventory). *Depending on project scope, years 1-7 taxes only on land value; approximately $0.02/SF.; Year 8-75% abatement on building, Year 9-50% and Year 10-25%.

7 For more information, please contact: JIM MERCER, SIOR Senior Vice President TONY ARGIRO Vice President WHITFIELD HAMILTON Partner SCOTT ABBOTT Senior Development Manager Visit our site: STAY CONNECTED: CBRE, Inc Thousand Oaks Blvd, Suite 4000, Memphis TN STAY CONNECTED: Panattoni Development 35 Music Square East, Suite 301 Nashville, TN CBRE, INC. LICENSED REAL ESTATE BROKER 2016 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. PMStudio_May2016 Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.