KEYSTONE PLAZA SHOPPING CENTER

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1 Exclusive Offering Memorandum Tickler KEYSTONE PLAZA SHOPPING CENTER 3548 Pelham Parkway South Pelham, AL OFFERING PRICE $4.1 Million PRICE PER SF $68 NET RENTABLE AREA 60,599 PARCEL SIZE / ACRES PARKING Approx Per 1000 SF YEAR BUILT 1981, Addi on 2001; Remodel 2014 IN PLACE NOI (YR ENDING JULY 2018) $316, CAP RATE 8% FOR INFORMATION CONTACT: DAN danderson@engelrealty.com or STEVE sbutler@engelrealty.com PERCENT LEASED 100% Engel Realty Company, LLC does not warrant the adequacy, accuracy or completeness of any informa on presented herein and expressly disclaims any liability for error or omissions therein. Users are responsible for evalua ng the accuracy, completeness or usefulness of any informa on.

2 Execu ve Summary The Keystone Plaza Shopping Center is located at 3548 Pelham Parkway South, Pelham, AL situated on the border of the City of Pelham and Alabaster. The City of Pelham was incorporated on July 10, Pelham is located in the central por on of Alabama, approximately 21 miles south of Birmingham along I 65 and US Highway 31. It is located in the state s fastest growing county, Shelby. Since 2000, the popula on has increased more than 50%. The center has been under current ownership since 2003 and has been professionally leased & managed locally. The Keystone Plaza is anchored by Na onal Tenants Big Lot s and Staples which account for 87% of the GLA in the center. The Shop space tenants include Garibaldi s Mexican Restaurant & TS Arms Gun Shop. The center recently underwent exterior renova ons in the fourth quarter of 2014 and complete renova on of the pylon sign as well. The property is currently zoned M 1, Light Industrial District which allows for all uses covered under the B 2, Business District zoning with added industrial uses. Engel Realty Company, LLC does not warrant the adequacy, accuracy or completeness of any informa on presented herein and expressly disclaims any liability for error or omissions therein. Users are responsible for evalua ng the accuracy, completeness or usefulness of any informa on.

3 OFFERING HIGHLIGHTS * Anchor Tenants, Big Lot s & Staples account for 87% of the GLA of the center. * Center is currently 100% Leased. Big Lot s Lease expires 2021 and Staples recently exercised a 5 year op on at $6.00 per sf one year early which extended their lease to * Low market rent for both Staples ($6.00 per sf) & Big Lots ($4.00 per sf) makes this loca on incredibly a rac ve for both anchors & leaves plenty of upside in future rent growth. * Growing Cash Flow: Cash flow will grow regularly at $.50 per sf every 5 years for both anchors, which will provide a great hedge against infla on. * Discount oriented center insulates itself from high end retailers that are struggling today. * Major exterior cosme c renova ons in 4th qtr., of 2014, including pylon sign remodel & seal coat & stripping in 2nd qtr., * Major upside due to 6,000 sf outparcel pad for a build to suite, ground lease, sale or future small shop development. OFFERING PRICE $4.1 Million PRICE PER SF $68 NET RENTABLE AREA 60,599 PARCEL SIZE Approx / Acres PARKING RATIO Approx per 1000sf YEAR BUILT 1981; 2001 Addi on & 2014 Remodel IN PLACE NOI $316,000 Cap Rate 8% Percent Leased 100% Engel Realty Company, LLC does not warrant the adequacy, accuracy or completeness of any informa on presented herein and expressly disclaims any liability for error or omissions therein. Users are responsible for evalua ng the accuracy, completeness or usefulness of any informa on.

4 Area Demographics 1 Mile 3 mile 5 mile 2018 Popula on 6,867 37,855 67, Popula on Est 7,178 39,713 71,072 Households ,620 14,062 24,847 Households 2023 Est 2,741 14,763 26,098 $73,470 $84,044 $86,151 Avg. Household Income 2018 Engel Realty Company, LLC does not warrant the adequacy, accuracy or completeness of any informa on presented herein and expressly disclaims any liability for error or omissions therein. Users are responsible for evalua ng the accuracy, completeness or usefulness of any informa on.

5 Tenant Summary Big Lot s Inc., is an American retail company and is a Fortune 500 retail corpora on headquartered in Columbus, Ohio, incorporated in the State of Ohio. Big Lots has over 1,400 stores in 48 states with more than 10 around the Pelham/ Birmingham area. They have five major distribu on centers with nearly nine million square feet of space and use highly automated systems to receive, prepare, load, and ship merchandise. The nearest distribu on center to Pelham, Alabama is in Montgomery, AL. Staples makes it easy to make more happen with more products and more ways to shop. Through its world class retail, online and delivery capabili es, Staples lets customers shop however and whenever they want, whether it s in store, online or on mobile devices. Staples offers more products than ever, in categories such as technology, facili es and break room, furniture, safety, and medical, as well as Copy & Print. Staples has been making it easy for businesses for 27 years with thousands of associates worldwide. Headquartered outside of Boston, Staples operates throughout North and South America, Europe, Asia, Australia and New Zealand. With 1900 stores in the US serving customers in 25 Coun es Staples is the #1 office supply superstore in the US. Engel Realty Company, LLC does not warrant the adequacy, accuracy or completeness of any informa on presented herein and expressly disclaims any liability for error or omissions therein. Users are responsible for evalua ng the accuracy, completeness or usefulness of any informa on.

6 Tenant Summary cont d TS Arms a locally owned full service Gun shop with full blown gunsmiths selling firearms, accessories and performing custom gunsmith requests as well as providing assembly services and cerakote, parkerizing, or bluing. The business has a manufacturing end, featuring the hammer weapon system, and TS Arms builds its own AR pla orm as well. They specialize in AR15 s and WW I, WW II guns, assembly, parts, and refinishing. They are the Largest WWI, WWII firearm dealer in Alabama. If they don t stock it they can find it. They offer consignment sales, estate sales and appraisals as well as shipping and or transfer services as well. They are a tle 07 manufacture and an 02 SOT. Customers entering the store will immediately encounter a museum collec on of fully restored military firearms from WWI, WWII, Korean War and Vietnam War era. Among the dozens of firearms represen ng conflicts from throughout the 20th century is an MG 13, considered Germany's first light infantry machine gun from 1932 one of only nine func oning in the world. Taqueria Garibaldi s Mexican Restaurant is a locally owned family Mexican Restaurant that opened up in Pelham in 2015 and a er one year in the Keystone Plaza Shopping Center expanded and doubled in size. The Heredia family has been in Pelham for 15 years and their family recipe's have taken Pelham by storm. Engel Realty Company, LLC does not warrant the adequacy, accuracy or completeness of any informa on presented herein and expressly disclaims any liability for error or omissions therein. Users are responsible for evalua ng the accuracy, completeness or usefulness of any informa on.

7 Mex Rest 29,774 SF 23,911 SF TS ARMS * Pylon Sign TENANT LIST BIG LOTS 28,774 SF STAPLES 23,911SF *6,000 sf (50 x 120 ) outparcel pad TAQUERIA GARIBALDI S (Mex Rest) 3,414 SF TS ARMS 4,500 SF Engel Realty Company, LLC does not warrant the adequacy, accuracy or completeness of any informa on presented herein and expressly disclaims any liability for error or omissions therein. Users are responsible for evalua ng the accuracy, completeness or usefulness of any informa on.

8 Reten on Pond Reten on Pond 6,000 sf (50 x 120 ) OUTPARCEL

9 KEYSTONE PLAZA SHOPPING CENTER FOUNDRY Engel Realty Company, LLC does not warrant the adequacy, accuracy or completeness of any informa on presented herein and expressly disclaims any liability for error or omissions therein. Users are responsible for evalua ng the accuracy, completeness or usefulness of informa on.

10 Engel Realty Company, LLC does not warrant the adequacy, accuracy or completeness of any informa on presented herein and expressly disclaims any liability for error or omissions therein. Users are responsible for evalua ng the accuracy, completeness or usefulness of informa on.

11 KEYSTONE PLAZA SHOPPING CENTER PELHAM, AL Engel Realty Company, does not warrant the adequacy, accuracy or completeness of any informa on presented herein and expressly disclaims any liability for error or omissions therein. Users are responsible for evalua ng the accuracy, completeness or usefulness of any informa on.