Offering Memorandum · and increase of 1.5% from the 2000 Census. Cherry Hill is New Jersey’s 15th most populous municipality and the second largest in Camden County. Cherry Hill

Offering Memorandum

800 North Kings HighwayCherry Hill, New Jersey

Rebecca Ting, SIORVice [email protected]

Jonathan KlearVice [email protected]

NAI Mertz21 Roland AvenueMount Laurel, NJ 08054856.234.9600www.naimertz.com

EXCLUSIVE MARKETING AGENTS Section 1. EXECUTIVE SUMMARYProperty SummaryLocation MapParcel MapProperty SurveyAerial Photo

Section 2. MARKET INFORMATIONCherry Hill, NJ OverviewCamden County OverviewNearby AmenitiesBusiness Climate

Table ofContents

Disclaimer: Information included or referred to herein is furnished by third parties and is not guaranteed as to its accuracy or completeness. You understand that all information included or referred to herein is confidential and furnished solely for the purpose of your review in connection with a potential purchase of the subject loan(s) or REO property(ies), as applicable. Independent estimates of pro forma income and expenses should be developed by you before any decision is made on whether to make any purchase. Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather only outline some of the provisions contained therein and are qualified in their entirety by the actual documents to which they relate. The asset owner(s), their servicers, representatives and/or brokers, including but not limited to NAI Mertz, and their respective agents, representatives, affiliates and employees, (i) make no representations or warranties of any kind, express or implied, as to any information or projections relating to the subject asset(s), and hereby disclaim any and all such warranties or representations, and (ii) shall have no liability whatsoever arising from any errors, omissions, or discrepancies in the information. Any solicitation for offers to purchase the subject asset(s) is subject to prior placement and withdrawal, cancellation, or modification without notice.

Executive Summary

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800 N. Kings Highway

Property SummaryPROPERTY ADDRESS: 800 N. Kings Highway, Cherry Hill, NJ 08034

TYPE: Office / Medical / Professional

BLOCK, LOT: Block 340.3, Lot 12

ZONING: O-2 - General Office

LAND AREA: 2.83± acres

RSF: 65,700± square feet

OCCUPANCY RATE: 87.50%

AVAILABILITY: 12,000± SF

NUMBER OF STORIES: 5

YEAR BUILT: 1975, Renovated 2015

PARKING: 3.3 parking spaces / 1,000 SF

FRAME: Steel

ROOF: Flat (2015)

EXTERIOR: Glass and Panel

WATER & SEWER: City

HVAC: 100% air conditioned

CLEAR HEIGHT: 8’4”

TAXES (2016): $128,115

21 Roland Avenue | Mount Laurel, NJ 08054 | tel 856.234.9600 | fax 856.234.4957 | www.naimertz.com 3

FEATURES: On-site cafe, bank, spa and fitness center

ACCESS: Located on Kings Highway (Route 41). Easily accessible from Routes 38, 70 & 73; I-295; and the New Jersey Turnpike. Located at NJ Transit bus stop.


PREMIER ASSET

■ 65,700± RSF on a 2.83± acre site

■ Existing vacant suites ready for immediate occupancy with minimal tenant improvements required

■ Front and rear entrances.

EXCELLENT VALUE ENHANCEMENT OPPORTUNITY

■ 87.50%± occupancy presents upside opportunity to create value through additional leasing

■ Ideal building and floor plates for professional users and equally well-suited for medical use

■ Ability to offer premier space at competitive rental rates

FEATURES AND ATTRIBUTES

■ Vacant suites ready for immediate occupancy

■ Office/medical suites offer exceptional options for a multitude of tenants

■ On site cafe, bank, spa and fitness center

■ Proximity to skilled labor force

■ Individually metered utilities

■ Excellent parking capacity

■ Digital directory in lobby

Property Summary (cont.)



Property Summary (cont.)

PROMINENT LOCATION / CONVENIENT ACCESS

■ Located in Cherry Hill, New Jersey, the heart of the South Jersey office market and approximately 25 minutes from Philadelphia

■ Conveniently located with access to Philadelphia via Ben Franklin, Walt Whitman, and Betsy Ross Bridges

■ Accessibility to Southern New Jersey’s entire highway system, including Exit 4 of the New Jersey Turnpike, Exit 36 of I-295, and Routes 38, 70 and 73

■ Trenton is only 30 minutes away, Princeton 40 minutes, and New York City can be reached in less than two hours

NEARBY AMENITIES

■ Less than 3 miles from the Ellisburg Circle Shopping Center, Cherry Hill Mall, Shops at Garden State Park and the Route 73 corridor

■ Close to local eateries and fine dining establishments, banks, recreational activities and other retail amenities

■ Variety of hotels and extended stay alternatives


800 N. Kings HighwayNearby Amenities


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1 Ellisburg Circle Shopping CenterWhole Foods, Honeygrow, Qdoba, Dollar Tree, Bank of America

2 Market Place & Towne Place at Garden State ParkWegmans, Best Buy, Home Depot, Cheesecake Factory, Panera

3 Cherry Hill Mall 160+ retailers and restaurants

4 Moorestown Mall 90+ retailers and restaurants

RE

TAIL

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23

4

5

67

8

9

101112

13

14 159

Cherry Hill Diner

TGIFriday’s

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Iron Hill Brewery

12 Silver Diner

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McDonalds

14Ponzio’s Diner

15 Olive Garden

1 Starbuck’s

2

Applebee’s3

Famous Dave’s BBQ

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Wendy’s5

Dunkin Donuts

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Cafe Aldo Lamberti

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Farm & Fisherman Tavern

8 16 Red Robin BurgersRE

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1 PNC

2 Columbia

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Bene�cial

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Republic Bank

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TD Bank 6

Wells Fargo

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2

3

4

5

6

16

Red Lobster

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1

1

1

1

4

9

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99

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9

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Aerial


Market Overview

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800 N. Kings HighwayOverview: Cherry Hill, NJThe Township of Cherry Hill is located in Camden County, New Jersey within the southern New Jersey marketplace. As of the 2010 United States Census, Cherry Hill has a population of 71,722 and increase of 1.5% from the 2000 Census. Cherry Hill is New Jersey’s 15th most populous municipality and the second largest in Camden County.

Cherry Hill is a family friendly suburb of Philadelphia and is the commercial center of Southern New Jersey. Additionally, Cherry Hill is located seven miles east of Philadelphia and is well known within the region as an affluent, educated, family oriented town. Many prominent periodicals have recognized Cherry Hill as one of the best places to live, shop or dine in greater Philadelphia. There are 19 award winning schools, 51 public parks, numerous places of worship and a vibrant business sector.

800 N. Kings Highway is located within close proximity to all of Cherry Hill’s premiere shopping destinations. It is less than 3 miles from Park Place at Garden State Park - a mixed-used development consisting of upscale retail tenants and luxury apartments. The Cherry Hill Mall is less than 3 miles away, which was recently rejuvenated with the addition of many new retail tenants - most notably Nordstrom, Urban Outfitters and Apple - as well as restaurants, like Capital Grille, Seasons 52, Grande Lux and more.

Cherry Hill has long served as southern New Jersey’s business and commercial center. Corporate clients include Subaru of America, TD Bank, Melitta Coffee and Pinnacle Foods. Geographically Cherry Hill is served via a series of transportation routes (Routes 70, 38, 41,I-295) allowing easy access for both residences and businesses and has a vibrant public transportation system including rail and bus.

Cherry Hill is a flourishing city and is regarded as the economic center for southern New Jersey. It includes a large number of luxury homes and numerous condominium communities. Several local schools have been recognized as “Star Schools” by the New Jersey Department of Education.

Cherry Hill’s original inhabitants were the Lenni-Lenape Indians, but the England Quakers established Colestown in the late 1600s. The name Cherry Hill, taken from Abraham Browning’s former farm by the same name, was given to the township in 1961 by the citizens by a non-binding referendum. The township was a thriving agricultural community during the late 1800s which included prosperous gristmills and carriage producing businesses. The farms grew a large amount of produce for The Campbell’s Soup Company, contributing to New Jersey’s nickname of ‘The Garden State’.

Regional Map


Cherry Hill, NJ is one of Burlington County’s largest municipal-ities. It’s proximity to major regional thoroughfares and ample amenities make it an attractive place to both live and do business.

PhiladelphiaPhiladelphia Camden

Cherry Hill

Moorestown

Marlton

Mount Laurel

Haddon�eld

Cherry Hill

800 N. Kings HighwayOverview: Camden County, NJ


Camden County is the most populous county in Southern New Jersey and 8th most populous in the State. According to the Population Estimates Program, Population Division of the US Bureau of the Census, the estimated population of Camden County is 513,567 as of 2010 * (U.S. Census Bureau). Camden County is bordered by Burlington County to the north, Gloucester County to the south, and Atlantic County to the east. The total area of the County is 145,468 acres including 3,859 acres of water. The county seat is located in Camden.

Demographic Snapshot

Population (2010) 513,657

Housing Units 204,943

MedianHousehold Income $62,320

MedianHome Value $218,700

CAMDEN COUNTY FACTS

■ Directly east of Philadelphia and connected to the city via three bridges - Ben Franklin, Walt Whitman and Betsy Ross

■ Rail service to both Philadelphia (via PATCO) and New York City (RiverLine / NJ Transit)

■ Centrally located in the Northeastern corridor

■ Mean travel time to work: 27.7 minutes

■ County Seat: Camden

■ Form of Government: Board of Chosen Freeholders — seven members elected to three-year terms

■ Political subdivisions: Two cities, eight townships & 27

boroughs

800 N. Kings HighwayMarket Conditions

Of�ce Market StatisticsTotal Southern New Jersey

4,426 Buildings 50,062,053 Square Feet 8.2% Vacant 583,494 Square Feet Net Absorption

Burlington County

969 Buildings 16,930,277 Square Feet 8.0% Vacant (23,096) Square Feet Net Absorption

Camden County

1,784 Buildings 18,553,934 Square Feet 9.0% Vacant 754,619 Square Feet Net Absorption


CONSTRUCTION ASKING RATES

VACANCY RATE

NET ABSORPTION

3Q16 vs. 3Q17

Medical Of�ce Market StatisticsTotal Southern New Jersey

797 Buildings 7,849,130 Square Feet 8.4% Vacant 240,743 Square Feet Net Absorption

Burlington County


Camden County


Documents

Offering Memorandum · and increase of 1.5% from the 2000 Census. Cherry Hill is New Jersey’s 15th most populous municipality and the second largest in Camden County. Cherry Hill