1849 Gwynn Oak AvenueMeadowwood EastWoodlawn, MD

Value add investment or user buyer opportunity

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Overview........................................................................................3Property summary.........................................................................4Location and market......................................................................6Tenant overview...........................................................................10

Terri HarringtonSenior Vice President+1 443 931 3331terri.harrington@am.jll.com

Tony Gross Senior Vice President+1 443 931 3333tony.gross@am.jll.com

Jay WellschlagerManaging Director+1 443 452 1516jay.wellschlager@am.jll.com

Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their representatives, brokers or agents make no guaranteesas to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind. The Property may be withdrawn withoutnotice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement.©2015. Jones Lang LaSalle. All rights reserved.

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1849 Gwynn Oak Avenue is conveniently located in Woodlawn in Baltimore County, less than a ½ mile from the headquarters of the Social Security Administration and a mile from Security Boulevard’s interchange with the Baltimore Beltway (I-695). This two story building sits at the southeast corner of the intersection of Gwynn Oak Avenue and Dogwood Avenue. This two-story building features a surface parking lot with 172 available spaces and approximately 41,746 square feet of above grade space. 69.5% of the building is leased to Baltimore County Public School’s Meadowood Education Center and Johns Hopkins’. Tenants have been in occupancy since 1996 and 2001 respectively. The subject property is a masonry structure with on grade access for both floor levels. The exterior of the 2nd floor features a perimeter walkway with multiple points for direct suite entry, allowing for ease of subdivision and multi-tenanting. 1849 Gwynn Oak offers an investor the ability to create value through the lease up of the remaining vacancy or a user occupant the advantages of ownership with the added benefit of in place credit income.

• Corner 3.39 acre lot with great visibility

• Credit with in-place long-term tenant Johns Hopkins University and Baltimore County Public Schools

• Opportunity to create additional value or occupy 12,173 s.f. of vacancy

• Easily sub-divisible floorplans

• Parking ratio is excess of 4/1,000 with 172 spaces

Investment highlights

Financial summary

• Purchase price: $4.1 million ($98.85 p.s.f.)

• Occupancy: 69.5%• Inplace NOI: $365,236• Stabilized NOI : $499,752

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Address: 1849 Gwynn Oak Avenue Woodlawn, Maryland 21207

Rentable square feet: 41,476 square feetProperty size (acres): 3.39 acresYear built: 1971Year renovated: 1991

Construction type: Steel frame with masonry façade, brick and glass exterior

Zoning: ML-IM

Parking: 172 (4.15/1,000) free surface parking space available

Access: Grade access to both levelsStories: 2HVAC:

First floor: Ten (10) 5.5 ton roof top units

Second floor: Eight (8) 5.5 ton roof top units and two (2) 7.5 ton roof top units

Power: 208/230v, 2,000 amp service

Utility source: The building is served by public water, sewer, electric and telephone

Roof: Carlisle EPDUElevator banks: ADA Lift

Tax map: 0088Tax parcel: 0490Tax account number: 0107000765State tax assessment: $3,595,100

First floor

Second floor

Johns Hopkins5,787 s.f.

Vacancy12,713 s.f.

Floor plans

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Location and market

FortMcHenryEllicott City

Randallstown

Woodlawn

Gwynn Oak

Pikesville

Towson

Parkville

Rosedale

Dundalk

Essex

Lutherville-TimoniumOwings Mills

GlenBurnie

Columbia

Landsdowne

Forte Meade

BALTIMORE

MARYLAND

BWIThurgoodMarshallAirport

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Situated in Baltimore County’s unincorporated community of Woodlawn, 1849 Gwynn Oak Avenue enjoys a location that is home to the headquarters of the Social Security Administration (SSA) and the Centers for Medicare and Medicaid Services. Bordered by Baltimore City to the east, 1849 Gwynn Oak Avenue is situated within the Meadows Business Park which houses office, light industry, research and development use. There are numerous dining, shopping and service amenities within a short drive of the Property.

AccessibilityThe Property is situated at the southeast corner of the intersection of Gwynn Oak Avenue and Dogwood Road and within close proximity to major transportation routes. The Property is 0.9 miles from Interstate 695, 2 miles from Interstate 70, 5.5 miles from the West Baltimore Commuter Rail (Penn Line) and 7.6 miles from the Penn Station Commuter Rail (Penn Line).

Baltimore Washington International Airport is located just 14.1 miles to the south and serves as a major gateway into and out of the Baltimore-Washington corridor.

Regional economyThe western portion of Baltimore County borders Baltimore City with convenient access to the both Baltimore and Washington DC, offering substantial growth opportunities in multiple dynamic industries. The region has seen recent job growth in the healthcare, intelligence, technology, and defense industries due to the significant presence of federal agencies including the Social Security Administration Headquarters (one-half (½) mile from the property), the Center for Medicare and Medicaid Headquarters (2 miles from the property) and nearby Fort Meade which has grown as the cyber security industry has evolved. With a significant amount of the Federal spending based in counter espionage, cyber security and healthcare, there is reason to believe in long term stability within the region as these government agencies have also fueled the private sector as well.

The overall Baltimore economy continued to grow at a steady pace in the fourth quarter of 2014 with non-farm employment rising 1.6 percent year-over-year. Mining, logging and construction remained the quickest growing segment of the Baltimore economy with an annual gain of 3.9 percent.

Nearby economic drivers

Location

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• Centers for Medicare and Medicaid Services (CMS) – Oversees the budget allocation specific to key federal monetary programs, with most of the work being done in conjunction with the US Department of Health and Services. An increase in population created a direct focus on this agency to add value and balance budgets accordingly. The CMS headquarters is located near the SSA headquarters in Woodlawn 2 miles from the property.

• Social Security Administration (SSA) – Headquartered in Woodlawn, MD one-half (½) mile from the property. SSA is an independent agency of the U.S. Federal government that administers Social Security, a social insurance program that acts as protection for retirement, disability and survivors’ benefits.

3.1 MSF market (28 buildings)9.5% prime vacancy rate9.5% total vacancy rateClass B: 9.5% prime; $19.99 p.s.fConstruction: 0 s.f.Average time on market: 25 months

Market statistics - Woodlawn

45.3 MSF market (575 buildings)13.0% prime vacancy rate13.5% total vacancy rateClass A: 12.5% prime; $25.51 p.s.f.Class B: 13.7% prime; $20.77 p.s.f.Construction: 450,288 SF (61%)Average time on market: 22 months

Market statistics – Baltimore Suburban

Market statistics

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A joint program of the GIM Division and the Welch Center for Prevention, Epidemiology, and Clinical Research, Johns Hopkins Pro-Health is among the nation’s premier centers for clinical trials to prevent cardiovascular disease, diabetes, and kidney disease. The program currently houses six major NIH funded controlled trials with a total budget of over $6 million annually. Occupying approximately 14,000 square feet, Pro-Health Clinical Research Unit houses a Data Collection Suite on the first level which includes a reception area, clinical laboratory, six examination rooms, large data storage room and long-term freezers. Pro-Health occupies space on the second level which houses the Pro-Health Clinical Research Unit’s Intervention Suite that includes group meeting rooms, individual counseling rooms, exercise room and state of the art metabolic kitchen. On-going NIH supported trials underway at Pro-Health include: the Diet and Study of Hypertension II (DASH II); a randomized trial of lifestyle interventions to lower blood pressure, PREMIER; the Diabetes Prevention Project (DPP); the African American Study of Hypertension and Kidney Diseases (AASK); and the Look Ahead Study.

A tenant since 2001, Johns Hopkins has renewed and expanded several times and enjoys this locations due to its access and immediate proximity to a residential base.

Johns Hopkins University

Meadowood Education Center serves middle school youth of the Southwest and Northwest areas of Baltimore County Schools. Meadowood Education Center is an alternative education program the offers students the opportunity to experience academic and behavioral success by holding students accountable for their academics, attitude, and attendance. The facility opened in 1996 and has an enrollment of approximately 40 students with a student teacher ratio of 4 to 1.

Meadowood’s goals are aligned with Baltimore County Public Schools Blueprint 2.0 for Progress: • To improve achievement for all students • To maintain a safe and orderly learning environment • To use resources effectively and efficiently

Meadowood Education Center

Tenant overview

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Terri HarringtonSenior Vice President+1 443 931 3331terri.harrington@am.jll.com

Tony Gross Senior Vice President+1 443 931 3333tony.gross@am.jll.com

Jay WellschlagerManaging Director+1 443 452 1516jay.wellschlager@am.jll.com

500 East Pratt StreetSuite 1250 Baltimore, MD 21202 +1 443 451 2600www.jll.com/baltimore

1849 Gwynn Oak AvenueMeadowwood East