MEMORANDUM

OFFERING

$ 8 , 2 5 0 , 0 0 0 9 . 2 0 % C A P R A T E

HIGH VOLUME RETAIL AREALocated in Fort Wayne - Indiana's2nd Largest City

»

»

Shadow Anchored by 24/7 WalmartSupercenter

»

100% OCCUPIED, POWER CENTER»

4 National Credit Tenants, NNNLeases

»

MINIMAL LANDLORD RESPONSIBILITIESTenants Pay Pro Rata Share ofCAM, Taxes, Insurance, andManagement Fee

»

»

Maysville Shopping CenterFort Wayne, IN 46074

Marshalls; Michaels; PetSmart;Dollar Tree

»

LOCAL MAP MAYSVILLE POINTE SHOPPING CENTER

CONTENTS

INVESTMENT DETAILS

1FINANCIAL ANALYSIS

2

LOCAL MAP

4TENANT PROFILES

3

MARKET OVERVIEW

5

WHY INVEST?

L O C A T I O N L E A S E S T E N A N T SShadow Anchored by a 24/7 WalmartSuperCenter, Menards, Meijer, and Kohl’s High Volume Retail Area Serving a LargePopulation of Neighboring Communities FromNE Indiana & NW Ohio Highly Visible | Nearly 25,000 Vehicles Daily 800,000+ SqFt of National Retailers in TradeCorridor Positioned in the North East Side of FortWayne, Immediately off I-469 Prime Real Estate in Indiana’s 2nd LargestCity  (Population = ±265,000)

✔

✔

✔

✔

✔

✔

100% Occupied, 4-Tenant Power Center | NNNLeases Ideal for Out-of-State Investors - Tenants PayPro Rata Share of CAM, Taxes, Insurance, andAdministrative/Management Fee. Gross Leasable Area of 79,080 SqFt Rent Increases Scheduled in Options ProvidingIdeal Hedge Against Inflation Strong Tenant Mix w/ Corporate Guarantees

✔

✔

✔

✔

✔

Marshalls: The Parent Company, TJXCompanies, Inc., is  the Leading Off-PriceApparel in the U.S. and Worldwide, and isRanked 85 Among Fortune 500 companies. Michaels: With $5.3 Billion in Sales in fiscal2018, The Michaels Companies, Inc. (NYSE:MIK) is the Largest Arts and Crafts SpecialtyRetailer in North America PetSmart: America’s Largest Specialty PetRetailer Employing Over 55,000 Associates inits 1,600 Stores in the US, Canada, and PuertoRico. Dollar Tree: A Fortune 500 Company andOperates Over 15,115 Stores Throughout theU.S. and Canada.

✔

✔

✔

✔

EXECUTIVE SUMMARYPROPERTY ADDRESS

ASSET CLASS

SUITES

OCCUPANCY

GROSS LEASABLE AREA

LOT SIZE

PARKING STALLS

PURCHASE PRICE

NET OPERATING INCOME

CAP RATE

AVERAGE LEASE EXPIRATION

LEASE TYPES

RENT INCREASES

RENEWAL OPTIONS

PRICE CAP

THE OFFERING

SITE DESCRIPTION

INVESTMENT OVERVIEW

10230-10260 Maysville Road, Fort Wayne, IN 46074

Power Center

4

100%

79,080 Square Feet

± 12.5 Acres

544

$8,250,000

$758,641

9.20%

4.5 Years

NNN

At Option Periods

Five (5) Year Options

$8,250,000 9.20%

NOI RENTABLE SF LAND AREA

LEASE TYPES PARKING STALLS

$758,641

NNNYEAR BUILT2008/2016 544

79,080 sf ± 12.5 acTENANTS MARSHALLS; MICHAELS; PETSMART; DOLLAR TREE

Marcus & Millichap is pleased to present the 100% fee simple interest in Maysville PointeShopping Center. This power center has a gross leasable area of approximately 79,080 SF,currently comprised of a Marshalls, Michaels, PetSmart, and Dollar Tree. The Maysville Centeris located on the northeast side of Fort Wayne just off 1-469 at the Maysville Road interchange.The subject property is comprised of 12 acres immediately west of a 24/7 Walmart Supercenterand Kohl's at the stoplight intersection of Maysville Road and Meijer Drive.

100% OCCUPIED, 4-TENANT POWER CENTER

MAYSVILLE CENTERNNN Investment Opportuni ty

Fort Wayne is a city in the U.S. state of Indiana and the seat of Allen County, United States.Located in northeastern Indiana, the city is 18 miles west of the Ohio border and 50 miles southof the Michigan border. With a population of 253,691 in the 2010 census, it is the second-mostpopulous city in Indiana. Fort Wayne is the cultural and economic center of northeasternIndiana. The city is within a 300-mile radius of major population centers, including Chicago,Cincinnati, Cleveland, Columbus, Detroit, Indianapolis, Louisville, Lexington, and Milwaukee.

SECOND LARGEST CITY | FORT WAYNE, IN100% OCCUPIED, 4-TENANT POWER CENTER

EXCELLENT TENANT LINEUP: MARSHALLS,MICHAELS, PETSMART, AND DOLLAR TREE

800,000+ SQFT OF NATIONAL RETAILERS INTHE TRADE CORRIDOR

TENANTS PAY PRO RATA SHARE OF CAM,TAXES, INSURANCE, AND MANAGEMENT FEE

SHADOW ANCHORED BY 24/7 WALMARTSUPERCENTER, MENARDS, MEIJER, ANDKOHL’S

HIGH VOLUME RETAIL AREA SERVING ALARGE POPULATION OF NEIGHBORINGCOMMUNITIES FROM NE INDIANA & NWOHIO

PRICE

NOI

CAP RATE

YEAR BUILT

AVERAGE LEASE EXP.

SUITES

LEASE TYPES

$8,250,000

$758,641

9.20%

2008/20164.5 Years

4

NNN

--

-

-

-

-

FEATURES

HIGHLIGHTS

LEASE ABSTRACT

1

2

3

4

Repairs & Maintenance $11,392

Replacement Reserves $15,816 $0.20

TOTAL

SUITE CONCEPT SIZE (SF) % OF GLALEASE

EXPIRATION OPTIONSINITIALTERM

RENTCOMMENCE

Marshalls

Michaels

PetSmart

Dollar Tree

22,000

21,632

20,448

15,000

27.81%

27.35%

25.86%

18.97%

10/27/16

07/31/08

10/12/08

12/1/18

10 Years

15 Years

15 Years

5 Years

10/31/26

2/28/23

1/31/24

2/28/24

Four, 5-Year

Three, 5-Year

Two, 5-Year

Three, 5-Year

79,080 100%

RENT/SF

BASERENT/YR

$231,000

$201,178

$276,048

$120,000

$10.50

$9.30

$13.50

$8.50

$828,226 $10.45

INCREASES

4.8% @ Option 1

8% @ Option 1

7.4% @ Option 1

6.25% @ Option 1

2019 OPERATING EXPENSES

TOTAL

Utilities & CAM

RE Taxes

Building Insurance

$100,820

$270,557

$22,126

$69,585 $0.88

PER SFCOSTCATEGORY

$1.27

$3.42

$0.28

$0.14

Tenant Reimbursements $351,126 $4.44

NOI

CAP

$758,641

9.20%

GLA79,080 SF

PRICE$8,250,000

FINANCIAL ANALYSIS MAYSVILLE POINTE SHOPPING CENTER

The TJX Companies, Inc., the leading off-price apparel and homefashions retailer in the U.S. and worldwide, is ranked 85 amongFortune 500 companies. At the end of 2018, the Company had $39billion in revenues, more than 4,300 stores in 9 countries, 3 e-commerce sites, and approximately 270,000 Associates. Thecompany operates T.J. Maxx and Marshalls (combined, Marmaxx),HomeGoods, Sierra, and Homesense, as well as tjmaxx.com andsierra.com, in the U.S.; Winners, HomeSense, and Marshalls(combined, TJX Canada) in Canada; and T.K. Maxx in Europe.

LEASE EXPIRATION: February 28, 2023

LEASE START:

SQUARE FOOTAGE:

CREDIT RATING:

SYMBOL:

NO. OF LOCATIONS:

OPTIONS

INCREASES

With $5.3 billion in sales in fiscal 2018, The Michaels Companies,Inc. (NYSE: MIK) is the largest arts and crafts specialty retailer inNorth America (based on store count) providing materials, projectideas and education for creative activities. The Michaels Companies,Inc. operates more than 1,250 Michaels stores in 49 U.S. states andCanada. The Michaels Companies, Inc. also owns Artistree, amanufacturer of high-quality custom and specialty framingmerchandise and Darice, a premier wholesale distributor in the craft,gift and decor industry.

July 31, 2008

21,632

BB-

NYSE: MIK

1,250+

HEAQUARTERS: Irving, TX

Three (3), Five (5) Year Options

8% @ Option 1

LEASE EXPIRATION: October 31, 2026

LEASE START:

SQUARE FOOTAGE:

CREDIT RATING:

SYMBOL:

NO. OF LOCATIONS:

OPTIONS

INCREASES

October 27, 2016

22,000

A+

NYSE: TJX

1,175+

HEAQUARTERS: Framingham, MA

Four (4), Five (5) Year Options

4.8% @ Option 1

LEASE EXPIRATION: February 28, 2023

LEASE START:

SQUARE FOOTAGE:

CREDIT RATING:

SYMBOL:

NO. OF LOCATIONS:

OPTIONS

INCREASES

LEASE EXPIRATION: January 31, 2024

LEASE START:

SQUARE FOOTAGE:

WEBSITE:

REVENUE:

NO. OF LOCATIONS:

OPTIONS

INCREASES

PetSmart is America’s largest specialty pet retailer employing over55,000 associates in its 1,600 stores in the US, Canada and PuertoRico. The retailer offers 11,000 products, which range fromscratching posts to iguana harnesses. Products, which are also soldthrough the PetSmart website, are marketed under national brandsand its own private labels. The company’s 20.5%-owned vet servicesfirm Medical Management International (known as Banfield) offers itsservices in about 850 stores. Investment company BC Partnersbought PetSmart in 2014 for $8.7 Billion.

Headquartered in Chesapeake, Virginia, Dollar Tree is a Fortune 500company and operates over 15,115 stores throughout the 48contiguous U.S. states and Canada. Its stores are supported by anationwide logistics network of eleven distribution centers. Thecompany operates one-dollar stores under the names of Dollar Treeand Dollar Bills. The company also operates a multi-price-pointvariety chain under the Family Dollar banner. In 2017, Dollar Treereported $22.246 Billion in Revenue.

July 31, 2008

21,632

BBB-

NASDAQ: DLTR

15,115+

HEAQUARTERS: Chesapeake, VA

Three (3), Five (5) Year Options

6.25% @ Option 1

October 12, 2008

20,448

www.petsmart.com

$6.5 Billion (2019)

1,500+

HEAQUARTERS: Phoenix, AZ

Two (2), Five (5) Year Options

7.4% @ Option 1

MARKET OVERVIEW

POPULATION

HOUSEHOLDS

INCOME

RACE AND ETHNICITY

HOUSING

EMPLOYMENT

In 2018, the population in your selected geography is81,611. The population has changed by 8.22% since 2000. Itis estimated that the population in your area will be 83,219five years from now, which represents a change of 1.97%from the current year.  The current population is 48.25%male and 51.75% female. The median age of the populationin your area is 37.42, compare this to the US averagewhich is 37.95. The population density in your area is1,037.28 people per square mile.

The current year racial makeup of your selected area is asfollows: 86.99% White, 6.41% Black, 0.02% NativeAmerican and 2.34% Asian/Pacific Islander. Comparethese to US averages which are: 70.20% White, 12.89%Black, 0.19% Native American and 5.59% Asian/PacificIslander. People of Hispanic origin are countedindependently of race.

There are currently 32,540 households in your selectedgeography. The number of households has changed by13.02% since 2000. It is estimated that the number ofhouseholds in your area will be 33,696 five years from now,which represents a change of 3.55% from the current year.The average household size in your area is 2.46 persons.

The median housing value in your area was $128,717 in2018, compare this to the US average of $201,842. In 2000,there were 22,594 owner occupied housing units in yourarea and there were 6,198 renter occupied housing unitsin your area. The median rent at the time was $523.

In 2018, the median household income for your selectedgeography is $57,799, compare this to the US averagewhich is currently $58,754. The median household incomefor your area has changed by 15.67% since 2000. It isestimated that the median household income in your areawill be $66,981 five years from now, which represents achange of 15.89% from the current year.

In 2018, there are 21,260 employees in your selected area,this is also known as the daytime population. The 2000Census revealed that 65.35% of employees are employedin white-collar occupations in this geography, and 34.62%are employed in blue-collar occupations. In 2018,unemployment in this area is 2.72%. In 2000, the averagetime traveled to work was 22.00 minutes.

SELECTED GEOGRAPHY = 5-MILE RADIUS FROM SUBJECT PROPERTY

MAYSVILLEShopping Center

10230-10260 Maysville Road,Fort Wayne, IN 46074

CONFIDENTIALITY & DISCLAIMER

NON-ENDORSEMENT NOTICE

THE INFORMATION CONTAINED IN THE FOLLOWING MARKETING BROCHURE IS PROPRIETARY AND STRICTLY CONFIDENTIAL. IT IS INTENDED TO BEREVIEWED ONLY BY THE PARTY RECEIVING IT FROM MARCUS & MILLICHAP AND SHOULD NOT BE MADE AVAILABLE TO ANY OTHER PERSON OR ENTITYWITHOUT THE WRITTEN CONSENT OF MARCUS & MILLICHAP. THIS MARKETING BROCHURE HAS BEEN PREPARED TO PROVIDE SUMMARY, UNVERIFIEDINFORMATION TO PROSPECTIVE PURCHASERS, AND TO ESTABLISH ONLY A PRELIMINARY LEVEL OF INTEREST IN THE SUBJECT PROPERTY. THEINFORMATION CONTAINED HEREIN IS NOT SUBSTITUTE FOR A THOROUGH DUE DILIGENCE INVESTIGATION. MARCUS & MILLICHAP HAS NOT MADE ANYINVESTIGATION, AND MAKES NO WARRANTY OR REPRESENTATION, WITH RESPECT TO THE INCOME OR EXPENSES FOR THE SUBJECT PROPERTY, THEFUTURE PROTECTED FINANCIAL PERFORMANCE OF THE PROPERTY, THE SIZE AND SQUARE FOOTAGE OF THE PROPERTY AND IMPROVEMENTS, THEPRESENCE OR ABSENCE OF CONTAMINATING SUBSTANCES, PCB’S OR ASBESTOS, THE COMPLIANCE WITH STATE AND FEDERAL REGULATIONS, THEPHYSICAL CONDITION OF THE IMPROVEMENTS THEREON, OR THE FINANCIAL CONDITION OR BUSINESS PROSPECTIVES OF ANY TENANT, OR ANY TENANT’SPL ANS OR INTENTIONS TO CONTINUE ITS OCCUPANCY OF THE SUBJECT PROPERTY. THE INFORMATION CONTAINED IN THIS MARKETING BROCHURE HASBEEN OBTAINED FROM SOURCES WE BELIEVE RELIABLE. 

BUYER AND BUYER’S TAX, FINANCIAL, LEGAL, AND CONSTRUCTION ADVISORS SHOULD CONDUCT A CAREFUL, INDEPENDENT INVESTIGATION OF ANY NETLEASED PROPERTY TO DETERMINE TO YOUR SATISFACTION WITH THE SUITABILITY OF THE PROPERTY FOR YOUR NEEDS. LIKE ALL REAL ESTATEINVESTMENTS, THIS INVESTMENT CARRIES SIGNIFICANT RISKS.  BUYER AND BUYER’S LEGAL AND FINANCIAL ADVISORS MUST REQUEST AND CAREFULLYREVIEW ALL LEGAL AND FINANCIAL DOCUMENTS RELATED TO THE PROPERTY AND TENANT.  WHILE THE TENANT’S PAST PERFORMANCE AT THIS OROTHER LOCATIONS IS AN IMPORTANT CONSIDERATION, IT IS NOT A GUARANTEE OF FUTURE SUCCESS.  SIMILARLY, THE LEASE RATE FOR SOMEPROPERTIES, INCLUDING NEWLY- CONSTRUCTED FACILITIES OR NEWLY-ACQUIRED LOCATIONS, MAY BE SET BASED ON A TENANT’S PROJECTED SALESWITH LITTLE OR NO RECORD OF ACTUAL PERFORMANCE, OR COMPARABLE RENTS FOR THE AREA.  RETURNS ARE NOT GUARANTEED; THE TENANT ANDANY GUARANTORS MAY FAIL TO PAY THE LEASE RENT OR PROPERTY TAXES, OR MAY FAIL TO COMPLY WITH OTHER MATERIAL TERMS OF THE LEASE; CASHFLOW MAY BE INTERRUPTED IN PART OR IN WHOLE DUE TO MARKET, ECONOMIC, ENVIRONMENTAL OR OTHER CONDITIONS.  REGARDLESS  OF TENANTHISTORY AND LEASE GUARANTEES, BUYER IS RESPONSIBLE FOR CONDUCTING HIS / HER OWN INVESTIGATION OF ALL MATTERS AFFECTING THE INTRINSICVALUE OF THE PROPERTY AND THE VALUE OF ANY LONG-TERM LEASE, INCLUDING THE LIKELIHOOD OF LOCATING A REPLACEMENT TENANT IF THECURRENT TENANT SHOULD DEFAULT OR ABANDON THE PROPERTY, AND THE LEASE TERMS TH AT BUYER MAY BE ABLE TO NEGOTIATE WITH A POTENTIALREPLACEMENT 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 MARCUS & MILLICHAP REAL ESTATE INVESTMENT SERVICES AND HOLD IT HARMLESSFROM ANY KIND OF CLAIM, COST, EXPENSE, OR LIABILITY ARISING OUT OF YOUR INVESTIGATION AND / OR PURCHASE OF THIS NET LEASED PROPERTY.

MARCUS & MILLICHAP IS NOT AFFILIATED WITH, SPONSORED BY, OR ENDORSED BY ANY COMMERCIAL TENANT OR LESSEE IDENTIFIED IN THIS MARKETINGPACK AGE. THE PRESENCE OF ANY CORPORATION’S LOGO OR NAME IS NOT INTENDED TO INDICATE OR IMPLY AFFILIATION WITH, OR SPONSORSHIP ORENDORSEMENT BY, SAID CORPORATION OF MARCUS AND MILLICHAP, ITS AFFILIATES OR SUBSIDIARIES, OR ANY AGENT , PRODUCT, SERVICE, ORCOMMERCIAL LISTING OF MARCUS & MILLICHAP, AND IS SOLELY INCLUDED FOR THE PURPOSE OF PROVIDING TENANT LESSEE INFORMATION ABOUTLISTING TO PROSPECTIVE CUSTOMERS.

Broker of Record:

Josh CaruanaMarcus & Millichap600 E. 96th Street,Indianapolis, IN 46240Tel: (317) 218-5300License: RB1403455

Listing Team:

Robert NarchiSenior Director - Net Leased Properties GroupSenior Vice President of InvestmentMarcus & Millichap12100 W Olympic Blvd Suite 350Los Angeles, CA 90064 Tel: (310) 909-5426Fax: (310) 909-5410License: CA  01324570

Jason FeferMarketing Coordinator Marcus & Millichap12100 W Olympic Blvd Suite 350Los Angeles, CA 90064 Tel: (310) 909-2394Fax: (310) 909-5410License: CA  02100489