CONFIDENTIAL OFFERING MEMORANDUM C A S T O S O U T H E A S T

CP The Shoppes atCrestPointe Towne Center

OFFERING MEMORANDUM DISCLAIMER: This Offering Memorandum, as it may be modified or supplemented (“Offering Memorandum”) is presented in connection with CASTO SOUTHEAST, REDSTONE and RED CAST BLOOMINGDALE, LLC (collectively, “Seller”) solicitation of offers for the purchase of CREST POINTE TOWNE SHOPPES, located in VALRICO, FL (the “Property”).

Prospective purchasers are advised that Seller’s review of offers will be based on Seller’s evaluation of a number of factors, including the current financial qualifications of each prospective purchaser. Prospective purchasers are further advised that the Seller expressly reserves the right, in its sole and absolute discretion, to evaluate the terms and conditions of any offer and to reject any offer without providing a reason therefore. Seller reserves the right to withdraw the Offering Memorandum and/or terminate the offer solicitation process at any time prior to full execution of a bind-ing purchase agreement. Further, Seller reserves the right to negotiate with one or more prospective purchasers at any time.

The information contained in the Offering Memorandum is proprietary and strictly confidential. It is furnished solely for the purpose of review by a prospective purchaser of the Property and is not to be used for any other purposes or made available to any person without the express written consent of Seller. Acceptance of the Offering Memorandum constitutes an agreement on the part of the recipient and the recipient’s representatives to maintain the confidentiality of the information contained therein. The information in the Offering Memorandum has been compiled from sourc-es deemed reliable, however, neither the information nor the reliability of such sources is guaranteed by Seller. Seller has not verified, and will not verify, any of the information contained in the Offering Memorandum nor does Seller make any representation or warranty whatsoever regarding the accuracy or completeness of the information provided therein. The information set forth in the Offering Memorandum does not purport to be complete and no obligation to update, augment, or otherwise revise such information is assumed by Seller. Prospective purchasers should conduct their own independent due diligence review of the Property including, but not limited to, engineering and environmental inspections, to determine the condition of the Property and its suitability for prospective purchaser’s intended use. Prospective purchasers are recommended to seek inde-pendent professional advice including legal, tax, environmental, engineering, and other as deemed necessary by prospective purchaser relative to acquisition of the Property. The information provided in the Offering Memorandum is not intended to provide, and should not be relied upon as accounting, legal, or tax advice or an investment recommendation.

No person has been authorized to give any information or make any representations regarding the prospective transaction, the Property, or infor-mation provided in the Offering Memorandum other than the information actually contained in the Offering Memorandum, which is subject to this Offering Memorandum Disclaimer and, if such unauthorized information or representations are or were given or made, the same must not be relied upon by prospective purchaser. Prospective purchaser’s sole and exclusive rights with respect to the prospective transaction, the Property, or infor-mation provided in the Offering Memorandum or otherwise in connection with the sale of the Property shall be limited to those expressly provided in a fully executed binding purchase agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or its affiliates, officers, directors, shareholders, owners, employees or agents, for any damages, liability, or causes of action relating to the prospective transaction, Offering Memorandum, solicitation process, or the marketing or sale of the Property.

1

2

3

4

5

6

Property Summary

Investment Highlights

Asset Overview

Financial Information

Market Overview

Tenant Information

Contacts7

CPTABLE OF CONTENTS

1

2

ADDRESS 2050 - 2056 Bloomingdale Ave. Valrico, FL 33596

TENANTS Tijuana Flats, Nationwide Vision, Blooming Nails

TOTAL GLA ± 6,180 SF

FOLIO 087348-8732

LAND AREA ± 0.80 AC

OCCUPANCY 100% occupied

YEAR BUILT 2017/2018

STRUCTURE Masonry walls; wood truss roof construction

FOUNDATION Concrete/block foundation

ROOF TPO roof; 20 year warranty

UTILITIES TECO Electric; TECO Peoples Gas; Hillsborough County Water & Sewer

HVAC Carrier RTU’s

CPPROPERTY SUMMARY

ASKING PRICE $3,130,000

CAP RATE 6.25%

YEAR 1 NOI $195,606

2

3

CPINVESTMENT HIGHLIGHTSNewly Constructed Fully Occupied Multi-Tenant Outparcel Building

This recently constructed 6,180 SF multi-tenant building is 100% leased, and all tenants have rent increases within both their original lease terms and option periods.

10 Year Lease Terms with Rental IncreasesEach of the tenants are on brand new 10 year leases featuring rental increases throughout the term.

Growing Retail CorridorSituated in front of Crest Pointe Towne Center, a 43.52 acre mixed-use development anchored by a new Walmart Supercenter, the site offers excellent visibility and frontage on highly traveled Bloomingdale Avenue. Surrounding retailers include Publix, The Fresh Market, Starbucks, Wendy’s, Chick-fil-A, CVS, Walgreens, Verizon, Stein Mart and Bealls, among others.

Low Tax BurdenWith no personal income taxes imposed in Florida, the state features one of the lowest tax burdens in the country.

Superior DemographicsWithin one mile of the property, the median household income is $105,016, which is 106% higher than the statewide average. Retail expenditures average $3,261 per household per month.

Excellent Location Located in the Tampa-St. Petersburg-Clearwater MSA, the area boasts a robust, diverse economy with 19 corporate headquarters, eight of which are Fortune 1000 companies. MacDill Air Force Base contributes $5 billion annually to the greater Tampa Bay economy.Impressive Tourism DollarsIn 2016, a record-breaking 22.6 million visitors spent $6 billion in Hillsborough County and contributed approximately $369 million in state and local tax revenues.

Highly Trafficked IntersectionBloomingdale Avenue - 31,000 ADT Lithia Pinecrest Road - 19,000 ADT

4

BRAND NEW CONSTRUCTION

in Valrico, Florida

SUPERIOR DEMOGRAPHICSwith a median household

income of $105,016

10 YEAR LEASE TERMS

for all tenants

EXCELLENT LOCATION

in the Crest Pointe Towne Center

project

5

The Crest Pointe Towne Center development is located in Valrico, Florida, which is a high growth area with impressive demographics, including an average household income of $127,800 and retail expenditures of $3,261 per household per month within one mile.

Crest Pointe Towne Center is a ± 43.52 acre mixed-use development anchored by a new Walmart Supercenter. The project also includes over 14 acres zoned for a TND style residential development. The center includes other national tenants such as Starbucks, Wendy’s, Chick-fil-A, and AutoZone.

The site has excellent frontage on Bloomingdale Ave and is easily accessible from both Bloomingdale Avenue and Lithia Pinecrest Road.

CPASSET OVERVIEW

66

7

SITE PLAN

SUBJECT

AVAILABLE +/- 2.89 AC

+/- 154,718 SF

BLOOMINGDALE AVE

PENDINGLOI

PENDINGLOI

FUTURE RETAIL

+/- 154,718 SF

BLOOMINGDALE AVE

FUTURE RESIDENTIAL SITE

SUBJECT

Blooming Nails

SITE PLAN

7

8

FUTURE RESIDENTIAL SITE

AERIAL

Blooming Nails

SUBJECT

FUTURE RETAIL

8

CPFINANCIAL INFORMATION

10

LEASE TERM RENTAL RATES OPTIONS &

SUITE TENANT SF BEGIN END BEGIN PSF ANNUAL OPERATING EXPENSES COMMENTS

2056 Blooming Nails 2,400 Oct - 2018 Oct - 2028 CURRENT $37.00 $88,800Pro rata CAM, RET, INS + 15% CAM

Admin Fee 1 Five Year

Option

Oct - 2019 $38.11 $91,200

Oct - 2020 $39.25 $94,200

Oct - 2021 $40.43 $97,032

Oct - 2022 $41.64 $99,936

Oct - 2023 $42.89 $102,936

Oct - 2024 $44.18 $106,032

Oct - 2025 $45.51 $109,224

Oct - 2026 $46.88 $112,512

Oct - 2027 $48.29 $115,896

2054 Nationwide Vision 1,380 Oct - 2018 Oct - 2028 CURRENT $35.00 $48,300Pro rata CAM, RET, INS + 15% CAM

Admin Fee2 Five Year

Options

Nov - 2023 $38.50 $53,130

2050 Tijuana Flats 2,400 Aug - 2018 Apr - 2029 Apr - 2019 $31.00 $74,400Pro rata CAM, RET, INS + 10% CAM

Admin Fee2 Five Year

Options

May - 2024 $34.00 $81,600

Total SF 6,180

Available SF -

Occupancy 100%

RENT ROLL CP

11

LEASE TERM RENTAL RATES TOTAL TOTAL

TENANT SF BEGIN END PSF ANNUAL CAM INS TAX ADMIN MGMT RECOV ANNUAL

Blooming Nails 2,400 Oct - 2018 Oct - 2028 $37.00 $88,800 $13,325 $6,000 $2,870 $1,999 $2,464 $26,658 $115,458

Nationwide Vision 1,380 Oct - 2018 Oct - 2028 $35.00 $48,300 $7,662 $3,450 $1,650 $1,149 $1,417 $15,328 $63,628

Tijuana Flats 2,400 Aug - 2018 Apr - 2029 $31.00 $74,400 $7,200 $6,000 $2,870 $720 $2,464 $19,254 $93,654

Totals 6,180 $211,500 $28,187 $7,390 $15,450 $3,868 $6,345 $61,240 $272,740

ECONOMIC PROFORMA CPPROFORMA

Base Rent $211,500

Expense Recovery $61,240

Potential Gross Income $272,740

Less 5% Vacancy ($13,637)

Effective Gross Income $259,103

Operating Expenses PSF

CAM $5.55 $34,312

INS $1.20 $7,390

TAX $2.50 $15,450

Management (3%) $1.03 $6,345

Total Operating Expenses $63,497

NET OPERATING INCOME $195,606

CapEx Reserve ($0.10) ($618)

Cash Flow After Reserves $194,988

UNDERWRITING ASSUMPTIONS• Analysis shows one year snapshot of NOI with analysis period from Oct-2018 through Sep-2019• Base rent includes any contractural rent increases that occur during analysis period• CAM, INS, and TAX expenses based on 2018 budget• Analysis assumes full 12 month rental income

CPMARKET OVERVIEW

13

MARKET OVERVIEW

Ranked No. 1 city in the Southeast

-Money Magazine

Voted 2nd best city for young entrepreneurs

-NerdWallet

Ranked 14th best big city to live in

-WalletHub

Ranked 8th for family friendly community

-Home.com

19th best city to start a career -WalletHub

TAMPAFLORIDA

Tampa is the 3rd largest city and has the 2nd largest MSA in the state of Florida. The city of Tampa is the largest city in and county seat of Hillsborough County and the third largest city in Florida. Located on the west coast of Florida on Tampa Bay, it is approximately 200 miles northwest of Miami, 180 miles southwest of Jacksonville and 20 miles northeast of St. Petersburg. Tampa is part of the Tampa-St. Petersburg-Clear-water, Florida Metropolitan Statistical Area (MSA). The four-county area, with approx-imately 2.9 million residents, is the second largest MSA in the state and the fourth larg-est in the southeastern United States. The Greater Tampa Bay area has over 4 million residents and generally includes the Tampa and Sarasota metro areas.

Tampa’s economy is founded on a diverse base that includes tourism, agriculture, construction, finance, health care, government, technology, and the port of Tampa. Tampa Bay is home to 19 corporate headquarters with over $1 billion in annual revenue, eight of which are Fortune 1000 companies (including OSI Restaurant Partners, WelllCare, TECO Energy and Raymond James Financial). There are also nearly 500 foreign-owned companies representing over 40 nations in the region. Tampa was the number two city for real estate investment in 2014, according to the Tampa Business Journal. Tampa’s port is the seventh largest in the nation and Florida’s largest tonnage port. Tampa is second in the state behind Miami in terms of cruise ship travel with ports of call for three cruise lines.

Tampa is also a gateway to the Florida High Tech Corridor, a 23-county area that spans the state and is connected by three research universities, more than 20 local and regional economic development organizations, 14 community and state colleges, and six regional workforce boards.

CP

COUNTY SEAT

of Hillsborough County

TAMPA MSAhas population

over 2.9 million

TAMPA BAY BUCCANEERSstadium known as the

“crown jewel” of the NFL

UNIVERSITY OF SOUTH FLORIDA

+42,000 students

19 CORPORATE HEADQUARTERS

in the Tampa Bay area

5 FORTUNE 500

COMPANIES

in Tampa

MACDILL AIR FORCE BASEcontributes $5 billion annually to economy

THIRD LARGEST CITY

in the state of Florida

MAJOR LEAGUE SPORTS

are prominent in Tampa with NFL, NHL, and MLB

teams

14

15

DEMOGRAPHICS Population 1-Mile

Radius3-Mile

Radius5-Mile

Radius

2018 ESTIMATED POPULATION 7,164 73,654 180,803

2023 PROJECTED POPULATION 7,825 80,707 198,524

2010 CENSUS POPULATION 6,903 69,008 163,106

2000 CENSUS POPULATION 6,898 58,219 120,409

2018 MEDIAN AGE (YEARS) 43.3 40.2 38.2

Households

2018 ESTIMATED HOUSEHOLDS 2,536 25,576 65,305

2023 PROJECTED HOUSEHOLDS 2,685 27,169 69,517

2010 CENSUS HOUSEHOLDS 2,456 24,121 59,462

2000 CENSUS HOUSEHOLDS 2,282 19,921 43,557

Income

2018 EST. AVG. HOUSEHOLDINCOME $127,800 $108,775 $92,890

2018 EST. MEDIAN HOUSEHOLD INCOME $105,016 $88,263 $77,359

2018 EST. PER CAPITA INCOME $45,244 $37,787 $33,577

HOUSEHOLD INCOME $50,000+ 80.5% 72.9% 66.5%

Education 1-Mile Radius

3-Mile Radius

5-Mile Radius

2018 HIGH SCHOOL GRADUATE 19.3% 23.0% 25.0%

2018 SOME COLLEGE 19.6% 21.3% 21.9%

2018 ASSOCIATE DEGREE ONLY 10.9% 10.6% 10.6%

2018 BACHELOR DEGREE ONLY 31.6% 25.8% 23.7%

2018 GRADUATE DEGREE ONLY 14.2% 13.1% 11.8%

Daytime Demos

NUMBER OF BUSINESSES 381 1,599 5,443

TOTAL NUMBER OF EMPLOYEES 3,805 12,317 43,767

EMPLOYEE POPULATION PER BUSINESS 10.0 to 1 7.7 to 1 8.0 to 1

RESIDENTIAL POPULATION PER BUSINESS 18.8 to 1 46.1 to 1 33.2 to 1

ADJUSTED DAYTIME POPULATION 5,801 32,858 93,790

Consumer Expenditure

TOTAL RETAIL EXPENDITURE (2018) $99.3M $908M $2.08B

TOTAL RETAIL EXPENDITURE (PER HOUSEHOLD PER MONTH) $3,261 $2,959 $2,655

OVER 180,000ESTIMATED

POPULATION WITHIN 5-MILES

65,305 ESTIMATED

HOUSEHOLDS

$127,800 EST AVG INCOME WITHIN

1-MILE

$2.08B RETAIL EXPENDITURES

WITHIN 5-MILES

CP

SURROUNDING COMPETITIVE RETAIL

14 13 12 11

10 9 81516

17

18

2

3 4

7

56

SUBJECT

Shoppes at Lithia

DOLLAR STORE VALRICO

1Bloomingdale Plaza

Bloomingdale SquareKing Row Shopping Center

Lithia Crossing

COMPETITIVE RETAIL

Blooming Nails

17

COMPETITIVE RETAILSHOPPING CENTER NAME CENTER SIZE NOTABLE TENANTS DRIVING DISTANCE

FROM SUBJECT

SUBJECT Shoppes at Crest Pointe Towne Center ± 6,180 SF -

1 Walmart Supercenter ± 154,718 SF Walmart Supercenter ± 0.1 miles

2 Harbor Freight Tools ± 90,446 SF Harbor Freight Tools, Dollar Store Valrico, Synergy Salon & Spa ± 0.75 miles

3 KFC ± 2,570 SF KFC ± 935 feet

4 Verizon ± 2,244 SF Verizon ± 0.73 miles

5 Walgreens ± 13,800 SF Walgreens ± 0.67 miles

6 Shoppes at Lithia ± 71,770 SF Publix, The UPS Stores, Edible Arrangements ± 0.81 miles

7 Lithia Crossing ± 163,144 SF Fresh Market, Stein Mart, Panera Bread, Chili's Grill & Bar ± 0.81 miles

8 Advance Auto Parts ± 7,500 SF Advance Auto Parts ± 1.15 miles

9 Walgreens ± 16,675 SF Walgreens ± 1.2 miles

10 Bloomingdale Square ± 276,181 SF Publix, Bealls, Hallmark, Ace Hardware, Pet Supermarket, Hallmark

± 1.35 miles

11 CVS ± 13,785 SF CVS ± 1.91 miles

12 Burger King ± 3,175 SF Burger King ± 1.34 miles

13 Taco Bell ± 3,750 SF Taco Bell ± 1.35 miles

14 Tires Plus ± 5,400 SF Tires Plus ± 1.36 miles

15 Bloomingdale Plaza ± 81,223 SF Winn-Dixie ± 2.15 miles

16 King Row Shopping Center ± 81,464 SF Big Lots, Family Dollar ± 2,84 miles

17 CVS ± 14,150 SF CVS ± 2.89 miles

18 Walmart Neighborhood Market ± 66,240 SF Walmart Neighborhood Market, Tuesday Morning ± 3.0 miles

CP

17

CPTENANT INFORMATION

Representative Photo

19

TenantTijuana Flats #232, LLC

Percentage RentNone.

Sales Termination RightNone.

Exclusive Use Landlord shall not lease space in the shopping center to any tenant for the primary and principal purpose of a restaurant specializing in Tex-Mex or Mexican cuisine.

Co-TenancyNone.

Tijuana Flats first opened in Winter Park, Florida in 1995. The restaurants are fast-casual hybrids featuring fresh food, hot sauce bars, art murals and an off-beat atmosphere. Food is ordered at the front counter and customers are served after sitting. The company had 18 locations across Florida before expanding out-of-state, and has since grown to over 100 locations in six states across the United States.

Nationwide Vision focuses on providing the personalized attention of a small, privately owned company while match-ing the low prices and convenience of a large chain. With over 80 locations in Florida, Arizona and Nevada, Nation-wide Vision offers full-service and comprehensive eye ex-ams, as well as a large selection of contact lenses and fash-ionable eyeglass frames.

TENANT SUMMARIES

CREDIT RATING

N/A

STOCK N/A

MARKET CAP N/A

ANNUAL SALES

$136M

OWNERSHIP Private

EMPLOYEES 3,000

LOCATIONS 130

CREDIT RATING

N/A

STOCK N/A

MARKET CAP N/A

ANNUAL SALES

N/A

OWNERSHIP Private

EMPLOYEES N/A

LOCATIONS +80

TenantNationwide Vision Center, Inc.

Percentage RentNone.

Sales Termination RightNone.

Exclusive Use Landlord shall not lease space in the shopping center to any future tenant for the primary purpose of offering optometry services and the retail sale of eyewear. .

Co-TenancyNone.

CP

20

C A S T O S O U T H E A S T

Stephanie P. May BeaumierManaging Director, Acquisitions & Dispositions

p: 614.744.3404 f: 614.229.4386 SMay@castoinfo.com

250 Civic Center Dr, Suite 500 | Columbus, Ohio 43215

STATE STREETCAPITAL REALTY

Molly BenadumTransaction Manager

p: 614.744.2017 | f: 614.228.5546MBenadum@castoinfo.com

State Street Capital Realty is a team of investment sales professionals focusing on providing white-glove service to our clients. A division of CASTO, State Street Capital Realty has the market access, tenant knowledge and strong industry relationships to execute at the highest levels. Committed to excellence, we expertly leverage our extensive portfolio experience to maximize value for our corporate and investment clients’ real estate holdings.

Redstone Commercial is a fully integrated commercial real estate services company doing business in 14 states with a client portfolio that exceeds 5,000,000 square feet, with 1,430,000 square feet in Florida. Redstone Commercial has been in business for over 25 years with a lineage that dates back to 1955. Redstone has offices in Tampa, Florida and Youngstown, Ohio. Our core competency is built on achieving valued solutions for our diverse client base.

1501 W. Cleveland Street, Suite 200 | Tampa, Florida 33606

William WambleVice President

p: 813.254.6200 | f: 614.228.5546c: 850.699.4777wwamble@redstonecommercial.com

CPCONTACTS

Pat WesterhouseVice President, Finance & Property ManagementBroker of Record

p: 941.552.4331 | f: 941.806.0631PWesterhouse@castoinfo.com