OFF BROADWAYLIBERTY, MO

SUBJECT PROPERTY

LIBERTY COMMONS IS LOCATED AT THE INTERSECTION OF I-35 & HWY 152 BENEFITING FROM 110,000+ VPD

LIBERTY COMMONS

2

OFF BROADWAY

8.50%CAP

$3,294,117PRICE

253 S STEWART RD, LIBERTY, MO 64068

10-year corporate lease

10% rental increases every 5 years plus 4% percentage rent clause

Landlord responsible for roof and structure

Low price per foot of $205/ft

Trade area population 250,000+

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

LEASABLE SF16,000 SF

LEASE EXPIRATION1/31/2028

SUBJECT PROPERTY

YEAR BUILT2017

LEASE TYPECorporate

PARKING4.5 per 1,000

3

Overview

THE OFFERING provides an opportunity to acquire a newly constructed Off Broadway Shoes in the Kansas City metro area. It is located within the newly built 315,000 square foot Liberty Shopping Center that is the premier power center in the trade area. Off Broadway has a 30 year operating history with 75 locations. It is a subsidiary of Deichmann which is a 100 year old retail conglomerate with operations in 26 countries and revenues of over $4.5B. The lease calls for 10% rental increases every 5 years plus percentage rent of 4% based on lease formula providing an investor a boosted return in that scenario. The shopping center has been re-platted so that each tenant suite has its own parcel. The property has limited landlord responsibilities as the shopping center manager handles the management and administration of the common areas, including the parking lot. Tenant is responsible for interior non- structural portions along with HVAC.

THE RETAIL MARKET Additional Liberty Commons Shopping Center Tenants include: Hobby Lobby, Petco, HomeGoods, Ulta, Kirkland’s, Natural Grocers and many others.

Contact the team

IN CONJUNCTION WITH MO LICENSED BROKER: Area Real Estate AdvisorsAdam S. Blue ablue@openarea.com816.876.2511

2016 REVENUES OF $4.4 BILLION

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

JOHN ANDREINIjandreini@capitalpacific.comPH: 415.274.2715CA BRE# 01440360

W. KANSAS STREET (HIGHWAY 152)

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Investment Highlights

35

35

291

291

152ST

EWAR

T RO

ADSTEWART

ROAD

35

KANSAS CITY

49,850 VPD

SHOAL CREEK

ELEMENTARY

LIBERTY HIGH

SCHOOL

EPIC ELEMENTARY

DISCOVERY MIDDLE SCHOOL

SOUTH VALLEY MIDDLE SCHOOL

ALEXANDER DONIPHAN

ELEMENTARY

LIBERTY MIDDLE SCHOOL

MANOR HILL ELEMENTARY

RIDGEVIEW ELEMENTARY

HERITAGE MIDDLE SCHOOL

LIBERTY OAKS

ELEMENTARY

SHOAL CREEK GOLF

COURSE

®

60,000+ VPD

16,000+ VPD

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Aerial

5

Custom Map

Source: ©2017 Esri.

November 08, 2017

©2017 Esri Page 1 of 1

AldiBest BuyChick-fil-ACVS PharmacyDICK’s Sporting Goods Home Depot

Hy-Vee SupermarketJCPennyKohl’s Lowe’sMichaels PetSmart

Ross Dress For LessSam’s ClubSprouts Farmers MarketT.J. Maxx Super TargetWalmart Supercenter

BUSINESS SUMMARY

KEY 1-MILE 3-MILES 5-MILES

Businesses 567 1,591 2,068

Employees 8,324 22,706 29,655

Residential Population 5,654 48,290 82,833

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Submarket Overview

RETAILERS IN CLOSE PROXIMITY INCLUDE:

SUBJECT PROPERTY

77

Surrounding Area Retail

7

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

SUBJECT PROPERTY

PRICE $3,294,117 Price Per Square Foot: $205.88

Capitalization Rate: 8.50%

Total Rentable Area (SF): 16,000

STABILIZED INCOMEScheduled Rent $280,000

Effective Gross Income $280,000

LESSTaxes NNN $0.00

Insurance NNN $0.00

Total Operating Expenses NNN $0.00

EQUALS NET OPERATING INCOME $280,000

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Income & Expense

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

TENANT INFO LEASE TERMS RENT SUMMARY

TENANT NAME SQ. FT. CURRENT RENT

MONTHLY RENT

YEARLYRENT

MONTHLY RENT/FT

YEARLYRENT/FT

Off Broadway* 16,000 4/6/2017 4/30/2022 $280,000 $23,333 $280,000 $1.46 $17.50

5/1/2022 1/31/2028 $25,667 $308,004 $1.60 $19.25

Option 1 2/1/2028 1/31/2033 $28,240 $338,880 $1.77 $21.18

Option 2 2/1/2033 1/31/2038 $31,067 $355,824 $1.94 $22.24

TOTALS: 16,000 $280,000 $23,333 $280,000 $1.46 $17.50

*Tenant has a one-time termination right if sales are not $3.2M during months 49-60 of the Lease.

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Rent Roll

BASE RENT

DATE RANGE MONTHLY RENT ANNUAL RENT

4/6/2017 - 4/30/2022 $23,333 $280,0005/1/2022 - 1/31/2028 $25,667 $308,004

OPTION RENTSDATE RANGE MONTHLY RENT ANNUAL RENT

#1. 2/1/2028 - 1/31/2033 $28,240 $338,880#2. 2/1/2023 - 1/31/2038 $31,067 $355,824

RENT

TENANT Off Broadway Shoe WarehouseBUILDING SF 16,000 SFLEASE TYPE LL Responsible for Roof & StructureTERM 10+ YearsRENT COMMENCEMENT April 6, 2017EXPIRATION January 31, 2028OPTIONS Two 5-year Options

PREMISE& TERM

P

TAXESTenant shall pay to Landlord as Additional Rent, in monthly installments its proportionate share of Taxes.

INSURANCETenant at its sole cost and expense, shall obtain and keep in force throughout the Term, commercial general liability insurance of not less than $1,000,000 per occurrence.

UTILITIESTenant agrees to pay all charges for utlilites consumed at the Premises.

TENANT’S OBLIGATIONSTenant is responsible for all maintenance and repair of the nonstructural portions of the premises and HVAC.

LANDLORD’S OBLIGATIONSLandlord is responsible for roof and structure.

EXPENSES

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

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Lease Abstract

69

CO

NIS

TOR

STRE

ET

STEWART ROAD

STEWART ROAD

THE SHOPS AT LIBERTY COMMONS

W KANSAS STREET152

11This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Site Plan

UNDER CONTRACT

UN

DER

LO

I

CLOSED

UNDER CONTRACT

UN

DER

CO

NTRAC

TU

ND

ER C

ON

TRACT

60,000+ VPD

CLOSED CLOSED

PETCO, THE SHOPS, ALL PADS, HOBBY LOBBY, HOMEGOODS, ULTA, AND FIVE BELOW ARE ALL SOLD OR ARE UNDER CONTRACT

CLOSEDUNDER CONTRACT

UNDER CONTRACT

Off Broadway Shoe Warehouse is a privately held retail footwear company founded in 1989 in Charlotte, N.C. As a leading footwear retailer, Off Broadway currently has over 75 locations in the U.S., offering over 30,000 pairs and 400 brands of shoes, providing ample options for their customers. They have approximately 30 years of operating history with calculated store growth average 2 stores per year.

In 2002 the company was acquired by Deichmann Group, one of the largest privately owned shoe retailers in the world with $4.5B in 2017 revenues and operations in 26 countries. The lease is signed by Off Broadway, Inc. and is a subsidiary of Deichmann Group.

ABOUT OFF BROADWAY

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

LOCATIONS IN THE UNITED STATES75+

SUBJECT PROPERTY

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Tenant Overview

POPULATION

1-MILE 3-MILES 5-MILES

2010 4,664 44,692 76,185

2017 5,061 48,290 82,822

2022 5,305 50,713 87,120

2017 HH INCOME

1-MILE 3-MILES 5-MILES

Average $91,519 $97,461 $93,858

Median $71,698 $80,688 $77,705

TOP EMPLOYERS

EMPLOYER # OF EMPLOYEES

Liberty Hospital 1,800

Liberty School District 1,480

Hallmark Cards Distribution 820

RR Donnelly 350

Clay County 350

LIBERTY

KANSAS CITY, MO (15 MILES)

THE AVERAGE HOUSEHOLD INCOME WITHIN A 5-MILE RADIUS

IS OVER $93K

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

13

Demographics

LIBERTY, MISSOURI

LIBERTY is the county seat of Clay County, Missouri. It’s located just 15 miles northeast of downtown Kansas City and directly east of KCI Airport. It lies at the crossroads of I-35 and Highways 69, 152 & 291. Liberty is less than 5 minutes from I-435, the interstate that encircles the Kansas City Metro area. New business growth in the Liberty area is among the highest in the metro area. Residential growth in the Liberty area has been at a steady pace.

Liberty Hospital is a major health care provider in the Kansas City MSA. With more than 1,800 employees and 350 physicians, it is one of the largest employers in Liberty.

Clay County is one of the fastest growing counties in Missouri, and in the Kansas City Metropolitan Area. Major businesses in Clay County include the Cerner Corporation world headquarters and Ford Motor Company.

KANSAS CITY is home to the headquarters of dozens of national companies including American Century Investments, Applebee’s, Hallmark

Cards, and H&R Block. Many universities and colleges are located in the Kansas City MSA, including the University of Missouri-Kansas City, Rockhurst University, and Kansas City Art Institute. More than 100,000 college graduates enter the KC workforce each year.

KANSAS CITY METRO

2.1 MILLION

KANSAS CITY METRO POPULATION (ESTIMATED)

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

KANSAS CITY, MO

14

Location Overview

We’d love to hearfrom you.

CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM:

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

IN CONJUNCTION WITH MO LICENSED BROKER: Area Real Estate AdvisorsAdam S. Blue ablue@openarea.com8.16.876.2511

JOE CACCAMOJOHN ANDREINI

ZANDY SMITH

DAVE LUCAS

RICK SANNER AARON SUSMAN

CHRIS KOSTANECKIZEB RIPPLE CHRIS PETERS

JACK NAVARRA

JOHN ANDREINIjandreini@capitalpacific.comPH: 415.274.2715CA BRE# 01440360

Copyright © 2017 Capital Pacific Partners

SFO. PDX. SEA. CAPITALPACIFIC.COM

SUBJECT PROPERTY

SUBJECT PROPERTY