Subsidiary of Honeywell. Absolute NNN Lease. Only $34.68 Per Square Foot. Huge New Airbus Facility Planned Nearby

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1 294,756 Sq. Ft. Warehouse Distribution Facility Actual site photo Subsidiary of Honeywell Absolute NNN Lease Only $34.68 Per Square Foot Huge New Airbus Facility Planned Nearby 207 Jacintoport Boulevard Saraland, AL (Mobile) CHAD RICHARDS Senior Vice President (415) DRE License # BOB STOLKIN Senior Vice President (415) DRE License # STEPHEN LACY (415) DRE License # STUART SCHEINHOLTZ (415) DRE License #

2 INVESTMENT SUMMARY Price: Price PSF: NOI: Cap Rate: Tenant: Lease Type: Rent Increases: Lease Commencement: Lease Termination: Renewal Options: Building Size: Lot Size: Year Built: $10,222,700 $34.68 $741,146 (May, 2013) 7.25% UOP, LLC Absolute NNN Every 5 years based on PPI* April, 2003 April, 2023 Two 5-year options 294,756 sq. ft acres 2002/2003 *See page 4 for the rent calculation explanation!!!!!!!!!!!!

3 ABOUT THE LEASE The property is fully-leased to UOP, LLC at an annual rent of $741,146 (as of May, 2013). The tenant is responsible for all taxes, insurance, and maintenance, except that the landlord must carry a liability insurance policy, which is reimbursed by the tenant annually. The rent adjusts every 5 years in accordance with the PPI (see the Rent Calculation explanation on the following page). The tenant has two 5-year options to extend the lease at the lesser of fair market or the same PPI calculation as outlined in the Rent Calculation. ABOUT THE IMPROVEMENTS The subject property is improved with a 294,756 square foot light industrial building, which contains approximately 6,500 square feet of office space. The building is a pre-engineered steel frame metal shell warehouse erected over a dock height heavy duty reinforced concrete foundation. It has a reinforced, 6 monolific slab under a heavy metal post and beam frame system. The building is dock height with 25 overhead doors with dock levelers (25,000 pound capacity) and 2 ground level overhead doors. The exterior finish of the structure is sheet metal sides with fiberglass skylights and upper side panels. The exterior walls are Ceco 26 gauge painted panel, and the west end wall with the UOP signage is split faced masonry. The roof is 26 gauge galvalume panel with 3 vinyl faced insulation. The ceiling is 24 feet high and the column spacing is 40 x 60. The entire building is fully sprinklered with a wet pipe system.

4 RENT CALCULATION The lease has rent escalations every 5 years in accordance with the PPI (less food and energy, as published by the Department of Labor). There are no caps or floors on the adjustments, therefore the rent can increase or decrease accordingly. The rent is scheduled to increase 12.3% in May, 2013 as follows:

5 ABOUT THE AREA Saraland, Alabama is a suburb of Mobile and is the third largest city in Mobile County. Just 9 miles north of Mobile, Saraland is in close proximity to the jobs, resources and services of Mobile, and is considered part of the N. Mobile Technical Corridor. The community is accessible from Interstate 65, as well as Highway 43. Saraland is just three miles north of Chickasaw, where UOP s manufacturing facility is located. Mobile County is attracting numerous new industries. Businesses in the immediate area include Ciba Specialty Chemicals, Olin, Shell Oil and Alabama Steam Plant. The future vibrancy of this region is further ensured by Airbus July 2012 announcement that it intends to establish its first U.S.-based facility at the Brookley Aeroplex in Mobile (see page 11 for more info). This manufacturing facility will be used for the assembly and delivery of A319, A320 and A321 aircraft. Aircraft assembly is planned to start in 2015, with first deliveries from the facility beginning in Officials estimate that as many as 15,000 direct and indirect jobs will be created by the time this facility in fully on-line. MARKET INFORMATION As of the end of 2012, the Mobile industrial market consisted of about 26.5 million SF in 1,256 buildings. Of this space, 24.1 million SF was warehouse space in 1,021 buildings and 2.4 million SF was flex space in 235 buildings. Net absorption for the overall Mobile industrial market was positive 75,696 SF for 4Q12. That capped a year in which showed overall positive absorption of 134,7912 SF. The average quoted asking rental rate for available industrial space in the Mobile market area was $4.12/SF at the end of 4Q12. This represented a 1.0% increase in quoted rental rates from the end of 3Q12, when rates were reported at $4.08/SF. As of 4Q12, the average asking rate within the warehouse sector was $4.04/SF. The same rate for flex space at 4Q12 was $6.16/SF. DEMOGRAPHIC SUMMARY 1 Mile 3 Mile 5 Mile Population 2,536 14,452 38,430 Average Household Income $46,899 $48,453 $44,758

6 Mobile River Industrial Park 1. Marshall Biscuit 2.Carrington Foods 3. O Reilly Auto Warehouse 4. Conway Transportation 5. Masland Carpet 6. G.A.F S/M Warehousing 8. S/M Transportation 9. UOP 10. Masland Carpet 11. REMCO Industrial Aaron Oil 13. Magnatech 14. QualaWash 3 5 6

7 ABOUT THE TENANT For nearly 100 years, Honeywell s UOP has been the leading international supplier and licensor for the petroleum refining, gas processing, petrochemical production and major manufacturing industries. UOP has nearly 3,000 active patents worldwide, and has generated thousands more historically, leading to important advances in process technology, profitability consultation, and equipment design. UOP is a part of Honeywell s Performance Materials and Technologies business group, and is equipped to offer the best, most advanced processes, products and services around the world. Over the past 90 years, Honeywell Performance Materials and Technologies has created products that build more comfortable and energy-efficient homes, protect our military troops in the field, make pharmaceuticals more effective and safer for consumption, and help grow more robust and plentiful crops. UOP is the world s leading producer of synthetic molecular sieve adsorbents used in purifying natural gas, separating paraffins and drying air through cryogenic separation. Molecular sieves also are used in insulating glass, refrigeration systems, air brake systems, automotive mufflers and deodorizing products. This Saraland facility serves as the warehouse / distribution facility for UOP s Chickasaw, AL molecular sieve manufacturing plant, the largest molecular sieve manufacturing plant in the world. Click here for more information about UOP

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10 AIRBUS MANUFACTURING FACILITY COMING TO MOBILE, AL (MOBILE, Ala.) - Aerospace giant Airbus announced that an Alabama-based company will be put in charge of constructing the $600 million final assembly plant at the Brookley Aeroplex. According to a press release, Airbus announced that the Birmingham-based Hoar Program Manager will "be responsible for managing all aspects of the design and construction of the facility, including supporting procurement of design and construction service providers and suppliers." HPM President Mike Lanier told Local 15 News he is humbled that the company was tapped for the job. "It's very exciting," Lanier said, "and it is the biggest single-project that we have ever done as a company. There are a lot of unique aspects to the building that are nothing like any others we've seen before. "The very first hire that the company makes is an Alabama-based company with a great history of working throughout the state. It makes a good statement that Airbus is going to be a really good partner with the State of Alabama for a long time." Lanier said construction on the $600 million plant will begin this summer, and in the months to come, the hiring of 2,500 workers will begin. "We will begin that process in earnest next week with a request for proposals that will go out to designers," Lanier said. HPM said they have completed $3.5 billion worth of projects in recent years, working with state, local and international entities. HPM has offices in seven major cities in the southeast including Mobile. Once completed, Airbus estimates the Mobile Final Assembly Plant will begin assembly of the A319, A320 and A321 aircraft in The first deliveries from Mobile will begin in Airbus anticipates the facility will produce between 40 and 50 aircraft per year by Officials estimate that as many as 15,000 direct and indirect jobs will be created by the time this facility is fully on-line.