DOLLAR GENERAL - levy.reapplications.com

Photo edited for marketing purposes

DOLL AR GENER AL3 3 0 0 N K ICK A P OO, SH AW NEE , OK OF F E R ING ME MOR A NDUM

P R OP ER T Y OVER VIE W 3Investment HighlightsOffering SummaryAerials

F IN A NCI A L R E V IE W 9Rent and Renewal OptionsRent Roll and ValuationTenant Overview

M A R K E T OVER VIE W 1 3Oklahoma City Market

M A R K E T ING TE A M 18

OFFEREDE XCL USIVELY BY

MICH A EL R A P EL L [email protected]: 405.600.6342

D A NN Y O JED [email protected]: 405.602.3046

JAY C OHL MI [email protected]: 405.602.2989

PR OPERTY OVERVIEW

4 | Dollar General: 3300 N Kickapoo, Shawnee, OK

Newmark Grubb Levy Strange Beffort is pleased to present the opportunity to acquire 3300 N Kickapoo, Shawnee, OK 74804 (“Property”), which is a 9,014-square-foot freestanding retail building Leased exclusively by Dollar General. For more than 80 years, Dollar General has provided consumers with a variety of items for the home. Based in Goodlettsville, Tennessee, it operates 16,720 stores in 46 states.

Shawnee, OK

• Located 40 minutes east of downtown Oklahoma City

• Oklahoma Baptist University, founded in 1910, has an enrollment of nearly 2,000 with 113 members of faculty.

• Traffic counts of 25,000-30,000 each day along Interstate-40 through Shawnee

NE A R BY R E TA IL ER S

Estimated Vehicles/DayKickapoo Street

1 7,7 0 0 VP D $ 5 5 , 2 9 5

0 .47 %Population Increase

2010-2020

Avg. Household Income3-mi Radius

1 5 , 9 5 0Daytime Business Population

3-mi Radius

P R O P E R T Y O V E R V IE W

INVESTMENT H IGHLIGHTS



OFFER ING SUMMARY

Price

Percent Leased

Cap Rate

Building Size

Year Built

Land Area

$ 1 ,1 5 6 , 6 4 0

1 0 0%

7.5%

3 30 0 N K ICK A P OO, SH AW NEE , OK

9, 0 1 4 SF

2 0 0 5

1 . 32 A CR E S

6 | Building Name (if applicable), Address6 | Dollar General: 3300 N Kickapoo, Shawnee, OK


S ITE AER IAL

7 | Building Name (if applicable), Address7 | Dollar General: 3300 N Kickapoo, Shawnee, OK


S ITE AER IAL



MARKET AER IAL

FINANCIAL REVIEW


F IN A N C I A L R E V IE W

RENT AND RENEWAL OPTIONS

3300 N Kickapoo, Shawnee, OK

L OC AT ION

December 31, 2025July 20, 2005

L E A SE E XP IR AT ION

R ENT C OMMENCEMENT

Five (5) YearsOne (1) Five (5) Year Renewal Option

R EM A INING TER M

R ENE WA L OP T IONS

Structure and RoofNNN

L A NDL OR D R E SP ONSIB IL IT Y

L E A SE T YP E



RENT R OLL AND VALUATION

INC OME + E XP ENSE SExpenses PSF Summary

Gross Income $106,371

Expenses

Less: Real Estate Taxes $0.88 $7,932

Less: Property Insurance $0.80 $7,184

Less: Common Area Maintenance $0.50 $4,507

Gross Expenses $2.18 $19,623

Net Operating Income $86,748

Tenant Occupied SF Lease Expiration Annual Base Rent Annual Operating Expenses

Monthly Base Rent

Monthly Gross Rent

Annual Gross Rent

PSF Total

Dollar General 9,014 12/31/25 $9.62 $86,748 $19,623 $7,229 $8,864 $106,371

Total 9,014 $19,623 $7,229 $8,864 $106,371

Photo edited for marketing purposes



TENANT OVERVIEW

DOL L A R GENER A LOwnership Dollar General Corp.

Locations/Headquarters 16,720: Tennessee

Public/Private Public: NYSE : DG

Line of Business Retail: Discount Services

MARKET OVERVIEW


Source: Flix

Source: Cornerstone Development

Source: Bockus Payne

The Half

First National Center

BancFirst Tower

S TAT E C A P I TA LO F O K L A H O M A

C I T Y O F O K C A R E A S I Z E

624SQ MI

S Y S T E M O F G O V E R N M E N TCity Manager

Elected Mayor & City Council

O K C M E T R O P O P U L AT I O N

1 .42M

T O P C R E D I T R AT I N G 1 0 Y E A R S R U N N I N G

A A AMoody’s

Oklahoma City continues to be a leader in the region with its diverse economy, skilled workforce, and a cost of living that is 14.6% below the U.S. standard. The metro area is home to several higher education institutions, major company headquarters and is the seat of state government. Oklahoma City also has launched civic projects that have transformed the city and downtown.

One of the main economic drivers over the past few decades has been the MAPS projects. The first taxpayer-funded projects included a sports arena, the Bricktown Canal, a library, and other downtown projects.

Oklahoma City’s unemployment rate started 2019 at 3.5%, and then began dropping to hover around 3% for the year.

Uncertainty in global markets and a pullback in oil and gas production have taken a toll, yet despite a gradual slowdown, OKC fared well in 2019 and positive job growth is expected in the metro in 2020. While not as dependent on oil and gas as other areas of the state, the metro still feels the drag when oil prices are low and energy companies shed jobs.

OKC is poised for another year of positive growth, but the local market will no doubt feel the effects of global conditions, and economic uncertainty in the United States as often is seen in a presidential election year. Other concerns that could put a drag on the economy include global health issues.

OKC DE VEL OP MENT S

• The Half | 55 Acres Flix Brewhouse is opening its theater and brewhouse alongside Dolese’s 77,773 square foot headquarters on this 55 acre development. There is potential for additional retail, office, and multifamily developments as well.

• First National Center | 1 Million Square Feet Developer Gary Brooks is renovating the 1931 art deco tower into a 146-room Autograph by Marriott hotel and 193 upscale apartments. The Great Banking Hall and arcade space will house restaurants and bars, including Ruth’s Chris Steak House.

• BancFirst Tower | 512,000 Square Feet BancFirst purchased the 36-story tower for $21 million in September, 2018. Now dubbed BancFirst Tower, it will house the bank and additional tenants. A renovation of the entire tower is underway. The bank plans to consolidate its operations around the city, and increase its downtown employment count to 450.


4.1 2 5%OF O V E R A L L

C I T Y TA X R AT E

21 /4¢ GENERAL FUND

1 /8¢ ZOO

3/4¢ PUBLIC SAFETY

1¢ TEMPORARY

OKC Thunder • Nine trips to the NBA playoffs• One trip to the NBA Finals• Average attendance: 18,203

OKC Dodgers• AAA franchise for the L.A. Dodgers MLB team• Team plays at Chickasaw Bricktown Ballpark• Average attendance: 6,471

Memorial Marathon• More than 24,000 runners annually• $10M economic impact• 16,000 hotel room nights

OKC Energy FC• USL Championship League• Team plays at Taft Stadium• Average attendance: 4,298

NCAA College Women’s World Series• Attracts 70,000 visitors annually• $15M economic impact• $27.5M improvements underway

The OKC Thunder is the biggest sports story in town, but other teams and events bring tens of thousands of visitors—and millions of dollars in economic impact—to the local market.

The City of Oklahoma City pays for day-to-day operations from the General Fund. The largest contributor to that fund is sales tax, followed by use tax. Sales tax is derived from retail sales, and use tax comes from goods purchased elsewhere and shipped or brought to OKC, including purchases from online retailers.

General Fund collections for Feb. 2020, which includes collections from the last half of Dec. 2019 and estimated collections for the first half of Jan. 2020, was $23 million. That number was 2.1% above projections, and a 4.3% increase over the same month last year.

S A L E S TA X R AT E : 8 . 6 2 5%City tax rate is 4.125%, the additional 4.5% goes to state and county. The 1¢ Temporary Sales Tax is for MAPS and other municipal projects.

ATHLETICS CITY F INANCES

Sources: ESPN; Soccer Stadium Digest; MILB.com; OKC Convention and Visitors Bureau

Tinker Air Force Base• 31,295 employees

6,944 military | 4,631 military dependents | 19,720 civilians

• Annual Federal Payroll: $1.82 billion• Economic impact: $4.83 billion

Recent NewsIn November 2018, the U.S. Air Force announced Tinker would coordinate maintenance and sustainment of the B-21 Raider — the next generation long-range strike bomber. The first of 14 maintenance hangers for Boeing’s KC-46 Pegasus is near completion. When all of the hangers are completed, it will lead to the creation of an estimated 1,300 jobs.

More than 4 million passengers passed through Will Rogers World Airport in 2018. It is undergoing an $89.3 million expansion to bring the gate total from 17 to 21, estimated for completion in early 2021. The new east concourse will feature consolidated security screening, a lobby and an observation mezzanine.

B IO S C IE NCEBioscience is booming in OKC and the sector employs 51,000 statewide providing goods, services, research, and education.

M A NUFA C T UR INGMore than 38,000 people are employed in manufacturing in the OKC metro. It accounts for about 6% of the metro’s nonagricultural labor force.

W H OL E S A L E A ND R E TA IL T R A DEAt the intersection of major interstates, OKC is a trade center with total taxable retail sales in 2018 of $23.8 billion.

P R OF E S S ION A L , B U S INE S S , A ND F IN A NCI A L S E R V ICE SMore than 125,000 employees, or 18% of the local workforce, provide business and financial services nationwide.

HE A LT H C A R EINTEGRIS, SSM Health, Mercy, and others employ 82,000 workers in the region with 36 general medicine and surgical hospitals and specialty clinics.

E NE R GYLong known as an energy state, the OKC metro is home to several major oil and gas companies, and accounts for 3% of metro employment and 10% of total compensation.

Will Rogers World Airport• 36 nonstop destinations to 25 cities (some seasonal)• 85 average daily departures• Passengers enplaned and deplaned in 2019: 4,419,119

An increase of 1.79% over the previous year

ECONOMIC DR IVERS

AV I AT ION A ND A E R O S PA CE


PUB LIC , PR IVATE DEVELOPMENTS + MAPS 4

A study by the OKC Planning Department found that within a 3-block impact zone around the MAPS streetcar route, there has been more than $1.6 billion value in public and private investment since 2011 alone. Even prior to that, Devon Energy began work in 2009 on its $750 million headquarters downtown.

The OKC Chamber reports private property values within the three-block impact zone have grown by 115 percent since the route was proposed in 2011. Because of its location along the streetcar route, Heartland chose Automobile Alley to build its 7-story, 110,000 square foot headquarters. Tony Capucille, president of Heartland, cited the streetcar at the building’s front door, and the vibrant energy downtown as the reason for building and bringing 345 employees downtown.

• Impact of public and private investments in MAPS totals more than $7 billion

• Estimated private investment of $3.9 billion between 1995 and 2018

• Property values downtown have nearly doubled, an increase of $1.88 billion

• Since 2009, downtown has added 2,200 residents, accounting for growth of 20.8%

• 2,700 housing units were added downtown during that period

• 9,000 jobs added downtown

• John W. Rex Charter Elementary School built downtown

Oklahoma Contemporary Arts Center 50,000 SF | Est. 2020

Heartland Headquarters110,000 SF | July 2020

Omni Hotel605 Rooms | Est. 2021

M A P S 4 P R O JEC T S

Parks$140 million will fund improvements to all of the parks in the city.

Youth Centers$110 million will fund four new youth centers to provide activities and education.

Senior Wellness Centers$15 million for a fifth Senior Wellness Center, and $15 million for scholarships for low-income seniors.

Mental Health and Addiction$40 million for mental health and substance abuse services.

Family Justice Center Operated by Palomar

$38 million will pay for a family justice center for victims of abuse and violence.

Transit$87 million for upgrades, more buses and rapid transit lines.

Sidewalks, Bike Lanes, Trails and Streetlights$87 million dedicated to bike and pedestrian roads and trails.

Chesapeake Energy Arena$115 million for capital maintenance and improvements for tenants and fans.

Beautification$30 million for beautification projects around the city.

Homelessness$50 million to reduce homelessness with affordable housing options.

Animal Shelter$38 million for a city animal shelter to replace the current outdated facility.

Fairgrounds Coliseum$63 million to partially fund an arena that will replace the aging Jim Norick Arena.

Diversion Hub$17 million to work to keep low-level offenders out of jail.

Innovation District$71 million to create a hub of innovation in the OU Health Sciences area.

Freedom Center and Clara Luper Civil Rights Center$25 million to renovate Freedom Center and construct center to celebrate civil rights history.

Multipurpose Stadium$37 million for a multipurpose stadium to host outdoor sporting events downtown.


2.5%

3.0%

3.5%

4.0%

4.5%

DECNOVOCTSEPAUGJULJUNMAYAPRMARFEBJAN$0

$20

$40

$60

$80K

K

K

K

0%

35%

70%

105%

140%

ChicagoAtlantaDenverFort WorthIndianapolisOKC

In Recession At Risk

Recovery

MidExpansion

L AT EE X P A N S I O N

INDUSTRY D IVER S ITY ENR OLLMENT 201 8-201 9School ‘18/’19 Type

University of Oklahoma - NormanOU Health Sciences Center - OKC 30,617 State | Four-Year

Oklahoma State University 29,069 State | Four-Year

University of Central Oklahoma 14,704 State | Four-Year

Oklahoma City Community College 11,469 State | Two-Year

Rose State College 6,676 State | Two-Year

Oklahoma City University 2,708 Private | Four-Year

Oklahoma Christian University 2,162 Private | Four-Year

Source: Oklahoma State Regents for Higher Education

KEY INDICATOR S2015 2016 2017 2018 Metric 2019 2020 2021 2022

1.36 1.37 1.38 1.39 Population (M) 1.40 1.42 1.43 1.44

3.9 4.3 3.9 2.8 Unemployment (%) 2.5 2.4 2.9 3.1

630 630 635 650 Employment (K) 661 661 661 666

53.2 54.5 56.3 58.6 Median HH Income (K) 60.9 62.3 63.7 65.5

84.6 Cost of Living 85.4

2 2 2 2 F-500 Companies 2 2 1 1

1 1 1 1 Nat’l Sports 1 1 1 1

O K C 2 . 8 % C O L I

OKC’s cost of living is 14.6% below the U.S. standard

M S A M E D I A N I N C O M E N AT I O N A L 3 . 6 7 %O K L A H O M A 3 . 3 5 %

F O R C A S T R I S K S

Short Term

Long Term

ECONOMIC CYCLEUNEMPLOYMENT R ATE 201 9CO ST OF L IVING INDEX COMPAR AB LES

Source: Moody’s

Averages from 2019 | Source: US BLS

Government 21.2%Trade, Transportation, Utilities 11.9%

Education and Health Svc. 10.5%Professional and Business Svc. 9.5%

Leisure and Hospitality 8.2%Manufacturing 7.7%

Financial Activities 7.4%Construction 6.1%

Other Svc. 5.3%Mining and Logging 4.4%

Information 3.2%

MA JOR EMPLOYER SThe largest employers in the OKC metro are the government and military, although the area has a diverse economy and is home to the head-quarters of several major companies.

HQ Employer Employees Sector Ticker Market Cap

Years in OKC

• Hobby Lobby Stores, Inc. 5,100 Retail Private - 48The Boeing Company 3,000 Aerospace BA $121.6 B 36

• Devon Energy Corp. 2,500 Oil & Gas DVN $3.2 B 49

• Paycom 2,500 Technology PAYC $13.8 B 22

• Midfirst Bank 2,000 Finance Private - 66

• Chesapeake Energy Corp. 1,800 Oil & Gas CHK $277.9 M 31

• Dell 1,800 Business Svcs. DELL $28 B 16Love's Travel Stops & Country Stores 1,800 Retail Private - 56

• Bancfirst 1,700 Finance BANF $1.2 B 54

• Hertz 1,700 Rental Svcs. HRI $1.1 B 56Enable Midstream 1,600 Oil & Gas ENBL $2.1 B 7

• American Fidelity 1,400 Finance Private - 60Source: Greater OKC Chamber | Excludes Government, Military, Higher Education, and Healthcare

MICH A EL R A P EL L ASenior Managing [email protected]: 405.600.6342

NE W M A R K GR UB B L E V Y S T R A NGE B EF F OR T204 N. Robinson, Suite 700Oklahoma City, OK 73102

D A NN Y O JED AVice [email protected]: 405.602.3046

JAY C OHL MI [email protected]: 405.602.2989

K EL L E Y CH A MB ER STransactions [email protected]: 405.772.7580

CONFIDENTIALITY + CONDITIONSAll materials and information received or derived from Newmark Grubb Levy Strange Beffort its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither Newmark Grubb Levy Strange Beffort its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. Newmark Grubb Levy Strange Beffort will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

E A CH PA R T Y SH A L L C ONDUC T I T S OW N INDEP ENDEN T IN V E S T IG AT ION A ND DUE D IL IGENCE .

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party.

All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Newmark Grubb Levy Strange Beffort makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Newmark Grubb Levy Strange Beffort does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Newmark Grubb Levy Strange Beffort in compliance with all applicable fair housing and equal opportunity laws.

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DOLLAR GENERAL - levy.reapplications.com