O F F E R I N G M E M O R A N D U M

SCHNUCKS FRESH FOODS1750 BRADFORD LN.NORMAL, IL 61761

i . I n v e s t m e n t O v e r v i e w

i i . F i n a n c i a l S u m m a r y

i i i . Te n a n t O v e r v i e w

i v. M a r k e t S u m m a r y

TABLE of

CONTENTSBROKER:

RYAN GOMEZ Senior Director Capital Markets | Net Lease Group Direct: 760-431-3824Mobile: 858-822-9811ryan.gomez@cushwake.comLicense: CA 01753933

Listed in conjunction with Illinois Broker of Record:Jerrod WigalLicense: IL 475.128826

CONTACT:This Confidential Offering Memorandum (“Memorandum”) is being delivered subject to the terms of the Confidentiality Agreement (the “Confidentiality Agreement”) signed by you and constitutes part of the Confidential Information (as defined in the Confidentiality Agreement). It is being given to you for the sole purpose of evaluating the possible investment in 1750 Bradford Lane, Normal, IL 61761 (the “Project”), and is not to be used for any other purpose or made available to any other party without the prior written consent of its exclusive broker, Cushman & Wakefield. This Memorandum was prepared by Cushman & Wakefield based primarily on information supplied by Managing Member. It contains select information about the Project and the real estate market but does not contain all the information necessary to evaluate the Project. The financial projections contained herein (or in any other Confidential Information) are for general reference only. They are based on assumptions relating to the overall economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or a legal analysis of such documents. While the information contained in this Memorandum and any other Confidential Information is believed to be reliable, neither Cushman & Wakefield nor Managing Member guarantees its accuracy or completeness. Because of the foregoing and since the investment in the Project is being offered on an “As Is, Where Is” basis, a prospective investor or other party authorized by the prospective investor to use such material solely to facilitate the prospective purchaser’s investigation, must make its independent investigations, projections and conclusions regarding the investment in the Project without reliance on this Memorandum or any other Confidential Information. Although additional Confidential Information, which may include engineering, environmental or other reports, may be provided to qualified parties as the marketing period proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engineers and environmental experts. Neither Cushman & Wakefield nor Managing Member guarantees the accuracy or completeness of the information contained in this Memorandum or any other Confidential Information provided by Cushman & Wakefield and Managing Member. Managing Member expressly reserves the right, at its sole discretion, to reject any offer to invest in the Project or to terminate any negotiations with any party at any time with or without written notice. Managing Member shall have no legal commitment or obligations to any prospective investor unless and until a written sale agreement has been fully executed, delivered and approved by Managing Member and any conditions to Managing Member’s obligations thereunder have been satisfied or waived. Managing Member has retained Cushman & Wakefield as its exclusive broker and will be responsible for any commission due to Cushman & Wakefield in connection with a transaction relating to the Project pursuant to a separate agreement. Cushman & Wakefield is not authorized to make any representation or agreement on behalf of Managing Member. Each prospective investor will be responsible for any claims for commissions by any other broker in connection with an investment in the Project if such claims arise from acts of such prospective investor or its broker. This Memorandum is the property of Managing Member and all parties approved by Managing Member and may be used only by parties approved by Managing Member. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone except as permitted under the Confidentiality Agreement.

SCHNUCKS FRESH FOODS

• ABSOLUTE NNN CORPORATE GROCERY TENANT

• BUILDABLE OUTPARCEL INCLUDED

• APPROX 1 MILE FROM ILLINOIS STATE UNIVERSITY

• ADJACENT TO NEW 300 UNIT STUDENT HOUSING COMPLEX

• VERY HIGH VISIBILITY IMMEDIATELY OFF INTERSTATE 55

• 1.2 MILLION ANNUAL VISITORS AT THIS LOCATION

• 107,000 POPULATION IN 5 MILE RADIUS

PROPERTY ADDRESS1750 Bradford Ln.

Normal, IL 61761

SIZELand: 6.05 Acres (263,538 sqft)

Bldg: 57,573 sqft

YEAR BUILT2008

FRONTAGE & PARKING SPACESRatio of 5.49/1,000 sqft

INVESTMENT HIGHLIGHTS

i . Investment Overview

SCHNUCKS FRESH FOODS

i . Investment Overview

PROPERTY OVERVIEW

VIEW PROPERTY VIDEO

McK

nig

ht

St

McK

nig

ht

St

N School StN School St

W R

aab

Rd

W R

aab

Rd

Bradford LnBradford Ln

16

8

7

5

• Over 107,000 residents within a 5 mile radius

• Normal, IL is a transportation hub with I-74,

I-55 and I-39 converging in the city

• Hard corner location, 1/2 mile off I-55 exit

which has 34,800 VPD

• Anchor at Constitution Trail Centre where other

tenants include Great Clips, Wendy’s, Subway

and Starbucks Drive-Thru

• Schnucks is located in the heart of the trade

area with approximately 1.2 million visits in the

past 12 months

Bloomington-Normal MSA population

190,000+

20,000+Adjacent to Illinois State

University

Students

234

Existing 300-bed student housing

Buildable out-lot

included

SURROUNDING NEW DEVELOPMENT OVERVIEW

i . Investment Overview

FUTURE BUSEY BANK BRANCHSIZE: 54,886 (1.3 AC)

As of September 30, 2019, Busey Bank, a wholly-owned bank subsidiary, with total assets of $7.80 billion is headquartered in Champaign, Illinois and has 44 banking centers serving Illinois, 13 banking centers in the St. Louis, Missouri metropolitan area, five banking centers serving southwest Florida and a banking center in Indianapolis, Indiana. Through the Busey Wealth Management division, the Company provides asset management, investment and fiduciary services to individuals, businesses and foundations.

FUTURE MEDICAL OFFICE BUILDINGSIZE: 39,640 (0.9 AC)

Owner occupied.

FUTURE STAND-ALONE DENTIST BUILDING

Owner occupied.

EXISTING 300 BED STUDENT HOUSING DEVELOPMENTSIZE: 166,399 SF (3.8 AC)

The Park at Constitution Trail Centre is an 85-unit, 13 building apartment complex on a 3.8 acre area east of the AMC Classic Normal 14 movie theater. The project includes one-, two- and three-bedroom units, including a three story building and as many as 300 beds.

13 ACRES AVAILABLE FOR SALE

Last remaining develop-able parcel at Constitution Trail.

FUTURE JIFFY LUBE

Closed land sale December 2019. Development to begin early 2020.

Stonebriar Auto Services, a Frisco-based company looking to open 150 franchise locations nationwide, plans to development a Jiffy Lube in 2020. Central Illinois currently is bare of Jiffy Lube locations. This location offers a lot of upside for future growth and an existing strong retail development. This store is planned to be a new concept of Jiffy Lube, offering not only quick oil changes but brakes, alignments, tires and more complicated auto services as well. Stonebriar also plans to open Jiffy Lube locations in Morton and Peoria.

FUTURE HOME 2 SUITES BY HILTON HOTELSIZE: 212,572 SF (4.9 AC)

Site work commenced December 2019. Total of 104 rooms planned.

Home2 Suites by Hilton is a more affordable, all-suite extended-stay hotel featuring contemporary accommodations and customizable guest room design. It will compete with Marriott TownePlace and InterContinental Hotels Group’s Candlewood Suites

FUTURE TACO BELLSIZE: 39,640 (0.9 AC)

Taco Bell is an American fast food chain known for its inventive, often whimsical, Mexican-inspired menu items. Along with KFC and Pizza Hut, Taco Bell is owned by Louisville, Kentucky-based Yum! Brands and serves 42 million customers a week at nearly 7,000 restaurant locations worldwide.

1 53 7 82 64

LEASE DETAILS

Lease Type

NNN

Lease Guarantor

CORPORATE

Rent Commencement Date

MARCH 2009

Lease Expiration Date

MARCH 2026

Term Remaining on Lease

6+ YEARS

Options

SIX-5 YEAR

i . Investment Overview ii . FInancial Summary

YEAR MONTHLY RENT ANNUAL RENT

1-17 $54,717.00 $656,604.00

Option 1 $57,093.23 $685,118.70

Option 2 $59,492.10 $713,905.20

Option 3 $61,890.98 $742,691.70

Option 4 $64,289.85 $771,478.20

Option 5 $66,688.73 $800,264.70

Option 6 $69,087.60 $829,051.20

Cap rate

8.0%

Price

$8,208,000

RENT SCHEDULE

Price/ft bldg.

$142.57

NOI

$656,604

Price/ft Land

$31.15

i i i . Tenant Overview

Schnuck Markets, Inc. is one of the largest privately held supermarket chains in the United States and dominates the St. Louis metro grocery market. It also owns and operates supermarkets with

in-store pharmacies in Missouri, Illinois, Indiana, Wisconsin, and Iowa. The company operates bakery, cheese (specialty), deli, floral, gluten-free, meat and seafood, pharmacy, produce, and wine and beer

departments; conducts cooking classes; and offers savings and services, including gift cards, specials and promotions, fuel rewards, fundraising, and donation requests.

Founded in 1939 and headquartered in St. Louis, Missouri, the company has built a strong presence in the area. In 1995, Schnucks acquired 57 stores from National Supermarkets in the St. Louis metropolitan

area, which marked an incredible growth year and established Schnucks as St. Louis’ number one grocery store. The company continued its expansion by entering Rockford, IL and acquiring Logli Supermarkets in

1998, which was a similar store and market to Schnucks. To better compete in the Rockford market, Schnucks acquired seven area Hilander stores from The Kroger Company in 2011. Schnucks now operates 11 supermarkets

in the Rockford metropolitan area.

In February 2017, Schnucks launched a home delivery service in partnership with Instacart called Schnucks Delivers to the Metro St. Louis area. The initial response and order quantities broke numerous Instacart records. Schnucks

Delivers subsequently launched in the Rockford and Evansville Markets in April 2017. The Schnucks Delivers service is now available company-wide, including the Peoria/Champaign/Bloomington markets, as well as the Janesville, Wisconsin

and Bettendorf, Iowa locations.

S C H N U C K S F R E S H F O O D S

POPULATION 1 MILE 3 MILE 5 MILE

2019 Total Population: 13,062 59,027 107,091

2024 Population: 13,413 59,016 106,362

Pop Growth 2019-2024: 2.69% (0.02%) (0.68%)

Average Age: 31.90 31.70 34.20

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2019 Total Households: 4,975 20,592 41,009

HH Growth 2019-2024: 3.08% (0.01%) (0.68%)

Median Household Inc: $69,104 $68,739 $59,764

Avg Household Size: 2.40 2.40 2.30

2019 Avg HH Vehicles: 2.00 2.00 2.00

HOUSING 1 MILE 3 MILE 5 MILE

Median Home Value: $148,101 $152,681 $154,308

Median Year Built: 2010 2010 1989

DEMOGRAPHICS

iv. Market Summary

TRAFFIC COUNTS (2018)

COLLECTION ST. CROSS ST. CROSS ST. DIST./DIR.

TRAFFIC VOLUME

DIST. FROM

SUBJECT

W Raab Rd N School St 0.04 W 8,785 W Raab Rd

W Raab Rd Frontage Dr 0.06 W 9,644 W Raab Rd

N Main St W Raab Rd 0.05 N 17,344 N Main St

W Raab Rd Sugar Creek Blvd 0.02 W 6,098 W Raab Rd

N Linden St E Raab Rd 0.09 S 5,314 N Linden St

E Raab Rd N Linden St 0.06 W 8,037 E Raab Rd

N Main St I-55 0.08 S 8,924 N Main St

TRADE AREA CONSUMER TRAFFIC

iv. Market Summary

HEAT MAP OF VISITORS IN THE TRADE AREA

HOURLY VISITS (TRAILING 12 MONTHS)

DAILY VISITS BY CUSTOMERS THROUGHOUT THE WEEK

LENGTH OF STAY BY CUSTOMERS (TRAILING 12 MONTHS)

This data was provided by Placer.ai, a company that tracks

consumer data via smartphone apps. Currently there are over

20+ million active devices and various platforms and metrics to

compare industry trends and analyze trade areas. Schnucks is

clearly located in the heart of the trade area with approximately

1.2 million visits in the past 12 months. This strong indication helps

validate the strength of the area and shows the high volume of

consumer traffic that the property is poised to capture.

In the past 12 months over 198,000 unique customers came to

shop at the Constitution Trail shopping center.

On average, customers spend approximately 56 minutes at the

shopping center with the highest concentration of visits around

noon and 5:00 pm. In addition, the shopping center receives

approximately the same number of visitors on a daily basis. The

steady flow of consumers on all days of the week helps validate

the strength of Schnucks grocery as Schnucks is open 7 days per

week and is the anchor to Constitution Trail.

600,000

Average Stay56 min

400,000

200,000

015-29 30-44 45-59 60-74 90-104 105-119 120-134 120-134 150<

300,000

240,000

Monday Tuesday Wednesday Thursday Friday Saturday Sunday

200,000

160,000

100,000

80,000

0

0

12:00 am 02:00 am 04:00 am 06:00am 08:00am 10:00am 12:00pm 02:00pm 04:00pm 06:00pm 08:00pm 10:00pm

# o

f vi

sits

# o

f vi

sits

R YA N G O M E Z Senior DirectorCapital Markets | Net Lease Group

Direct: 760-431-3824 // Mobile: 858-822-9811ryan.gomez@cushwake.comLicense: CA 01753933

©March 19, 2020 11:32 AM Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. No warranty or representa-tion, express or implied, is made as to the condition of the property (or properties) referenced herein or as to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). Any projections, opinions or estimates are subject to uncertainty and do not signify current or future property performance.

S C H N U C K S F R E S H F O O D S