OFFERING MEMORANDUM

Capital Markets | Investment Properties

5550 RT. 42TURNERSVILLE, NJ 08012

AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its

contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

© 2016 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

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TABLE OF CONTENTS

04 MARKET OVERVIEW

08 PROPERTY OVERVIEW

12 DEMOGRAPHICS

PATRICK MCCABEVice President+1 484 567 3344patrick.mccabe@cbre.comLicensed Salesperson: PALicensed Salesperson: NJ

MARKET OVERVIEW

TURNERSVILLE OVERVIEW

The Consumer ProfileSoccer Moms Pleasantville

Turnersville Overview

$90,500 Single Family

Marital Status: MarriedMedian Age: 37.0

• Home maintenance contracted

• Active outdoors• Family oriented

purchases

Race & Ethnicity: White only: 75.06% Black only: 14.94% Hispanic only: 6.70% Other: 2.03%

Total Population

Daytime Population

Median Household

Income

# of Househ

olds

Median Home Value

5-yr Population

Growth

Median Age

1 mile 7,859 7,681 $78,911 2,755 $222,538 0.25% 42

3 miles 68,173 58,051 $83,246 23,284 $233,707 0.15% 39

5 miles 177,151 138,815 $71,153 64,915 $215,180 0.25% 39

7 miles 312,938 250,788 $66,984 115,285 $209,015 0.34% 39

Defined Trade Area

94,772 78,711 $80,282 33,646 $229,086 0.23% 40

Source: Demos: Esri, 2017 Estimates; Drive times are in normal traffic.

CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners.

© Copyright 2018 All rights reserved. Information contained herein, including projections, has been obtained from sources believed to be reliable, but has not been verified for accuracy or completeness. CBRE, Inc. makes no guarantee, warranty or representation about it. Any reliance on such information is solely at your own risk. This information is exclusively for use by CBRE clients and professionals and may not be reproduced without the prior written permission of CBRE’s Global Chief Economist.

Licensed Real Estate Broker Last Updated: 9/11/2018

$92,900 Single Family

Marital Status: MarriedMedian Age: 42.6

• Prefer imported SUV’s

• Invest conservatively

• Take on home improvement projects

Home to many bustling shopping centers along Black Horse Pike (NJ-42) and Cross Keys Road, the Turnersville trade area is a major South Jersey retail submarket. The 2015 opening of Gloucester Premium Outlets, along the Atlantic City Expressway connection of Philadelphia to the Jersey Shore, highlights local retail strength. In just a short time, Rowan University has grown from a small commuter school into a major

public university that attracts students from across New Jersey. Rowan’s enrollment, now at 15,401 undergraduates, expanded by 69% between 2006 and 2016. Rowan Boulevard, a main street-style retail and residential development, has harnessed the university’s dramatic growth to revitalize once-struggling downtown Glassboro.

Turnersville OverviewMarket Snapshot

Trade Area StatsTotal Population: 94,772

MHI: $80,282

Median Home Value:

$229,086

Median Age: 40

Location Date Buyer Price $/SF

Regal Cinemas 6/22/2017 Agree Realty Corp $10,610,000.00 $212.05Winslow Shopping Center 10/31/2017 F&G Associates LLC $6,750,000.00 $112.50

Source: Statistics: CBRE, Inc. H2 2017; Retail statistics are based on Regional Malls, Lifestyle Centers, Power Centers, Community Centers, Neighborhood Centers and Freestanding Buildings ≥50,000 sq. ft.

CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners.

© Copyright 2018 All rights reserved. Information contained herein, including projections, has been obtained from sources believed to be reliable, but has not been verified for accuracy or completeness. CBRE, Inc. makes no guarantee, warranty or representation about it. Any reliance on such information is solely at your own risk. This information is exclusively for use by CBRE clients and professionals and may not be reproduced without the prior written permission of CBRE’s Global Chief Economist.

Licensed Real Estate Broker Last Updated: 9/11/2018

Power CentersCross Keys Commons241,054 SFAnchor Tenants: Ross, Marshalls

Community CentersTown Square Plaza340,870 SFAnchor Tenants: Lowe’s, TargetRestaurants: Five Guys, Chick-fil-A

Collegetown Shopping Center270,050 SFAnchor Tenants: Kmart, StaplesRestaurants: Saladworks

Cross Keys Place266,173 SFAnchor Tenants: The Home Depot, Bed Bath & Beyond

Plaza 42207,689 SFAnchor Tenants: Kohl’s, PetSmart

Major Area EmployersRowan University

Major Retailers

Shopping Center Sales (Last 12 Months)5

MARKET AERIAL

Greentree Rd

Greentree Rd 44,841ADT44,841ADT

53,581 ADT53,581 ADT

42

66,170 ADT

66,170 ADT

Washington Plaza

Plaza 42

Washington Plaza

Plaza 42

TurnersvilleSquare

TurnersvilleSquare

76 Rooms

Sicklerville Rd

Sicklerville Rd

AC Expressway

AC Expressway

Hickstown Rd

Hickstown Rd

444

PARCEL MAP

7

PROPERTY OVERVIEW

SITE PLAN

9

Approx. 5,484Square Feet

SITE LOCATION

10

Offering ProcessCBRE, Inc. is exclusively representing the owner in this transaction.

Offering Structure• The Property is being offered on an “All Cash” basis to qualified purchasers.

• To schedule a property inspection or receive answers to questions, please contact the representatives listed. Please do not contact on-site property management or Seller.

All offers should be submitted in writing and should include:

• Proposed purchase price

• Proposed financing structure

• Timing for inspection period and closing period

• Amount of earnest money, including the amount that is non-refundable

• Source of funds for the acquisition

Property Highlights

• Good Access (Traffic Lite)

• Good Visibility

• HC Zoning – Multiple permitted uses

• 44,000 VPD traffic

• Adjacent to vacant site allowing for larger development footprint

11

Price $2,100,000

Building Size ±5,484 SF

Land Area .23 Acres

Property Taxes $46,505

Average Daily Traffic Counts 44,000 VPD

5550 ROUTE 42BLACKWOOD NJ 08012

THE OFFERING

ZONING & DEMOGRAPHICS

13

ZONING INFORMATION 4/18/2018 Township of Washington, NJ HC Highway Commercial District: § 285-100 Permitted uses.

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Article XVIII:Article XVIII: HC Highway Commercial DistrictHC Highway Commercial District

�Amended �������� by Ord� No� ������� ���������� by Ord� No� ��������

Chapter ���Chapter ��� ZoningZoning

§ ���-��� Permitted uses.Permitted uses.

A. In any HC Highway Commercial District, land, buildings or premises shall be used by right only for only one of the following:

(1) General retail merchandise stores, including department stores, �ve-and-ten variety stores, general merchandisediscount stores, drugstores and sporting goods stores.

(2) Retail apparel and accessories stores, including shoe stores, furriers and custom tailors.

(3) Retail furniture, home furnishings and equipment, including household appliance stores; hardware, paint and glassstores; and radio and television stores, including services.

(4) Retail stores, including supermarkets, bakeries and confectionery shops.

(5) Eating establishments, including restaurants, lunch counters, delicatessens, tea rooms, taverns, confectioneries orsimilar establishments serving food or beverages.

(6) Retail gift shops, including camera, book, stationery, antique, musical supply, cosmetic, candy, cigarette and tobacco,�ower, hobby, jewelry and leather and luggage shops.

(7) O�ces for the conduct of medical and other professions, real estate and insurance and banks, including branch banks,messenger or telegraph services and general and administrative o�ces.

(8) O�ce business shops, with sales and services only.

(9) Dry cleaning, barber, beautician, shoe repair, laundromat and tailor shops.

(10) Government o�ces serving the public, including a post o�ce or other public or semipublic o�ces.

(11) Indoor recreational facilities, including theaters and bowling alleys.

(12) Artists' and photographers' studios.

(13) Factory authorized new automobile sales agencies and services, including repair shops adjacent to and in connectiontherewith and including new and used car lots.

(14) Mortuaries.

(15) Libraries and museums.

(16) Motels/hotels and related facilities such as restaurants, meeting rooms and auditorium spaces and swimming pools.

(17) Newspaper publishing and job printing.

(18) General service and repair shops, including carpenter, cabinetmaking, furniture repair, plumbing or similar shop.

(19) O�ce of a builder, carpenter, caterer, cleaner, contractor, decorator, electrician, furrier, mason, painter, plumber, roofer,upholsterer and similar non-nuisance businesses, excluding open storage of materials and excluding open storage ofmotor vehicles.

(20) Substation, telephone central o�ce, electric and gas facilities, sewage lift stations, water pumping station, subject to thefollowing special requirements:

(a) No storage of materials and trucks and no repair facilities or housing of repair crews, except within completelyenclosed buildings, shall be permitted.

14

ZONING INFORMATION

4/18/2018 Township of Washington, NJ HC Highway Commercial District: § 285-100 Permitted uses.

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(b) The architectural design of the exterior of any building shall be in keeping with other structures in theneighborhood.

(c) Screening shall be developed in accordance with the requirements of this article. All plants not surviving afterplanting must be replaced.

(21) Automobile repair shops. No outside storage of materials is permitted. Storage of motor vehicles is permitted, providedthat the vehicles have up-to-date inspection stickers and registration and are properly fenced from view and located inthe rear of the property.

(22) Tourist, rooming or boarding house.

(23) Veterinary hospital, provided that all animals are kept in a permanent enclosed structure and are not within 150 feet ofany existing residential use or zone.

(24) Laboratory, dental and medical.

(25) Exterminator.

(26) Catering establishment.

(27) Business and instructional school, including trade school.

(28) Dance studios.

(29) One apartment unit, provided that such use is in conjunction with the main business use, such as living quarters for awatchman. Such apartment shall be located above the main �oors or in the rear of the business structure. An additionaltwo parking spaces shall be provided for such apartment unit.

(30) Clubs and lodge halls for fraternal organizations and meeting places, public or private.

(31) Rescue squads.

(32) The display and sale of farm products in accordance with Article XXXIV, Farm Regulations.

(33) Social club and fraternal, social service, union or civic organizations.

(34) Day-care center, preschool and day nursery school, subject to the following special requirements:

(a) An outdoor play space shall be provided.

(b) Outdoor play space shall be fenced in accordance with the regulations of this chapter.

(c) Such facilities shall not be located in retail commercial shopping areas or buildings because of the high volume oftra�c trips.

(35) Nursing homes, rest home or home for the aged.

(36) Ambulatory care facilities, which may include an ambulatory surgery facility.

(37) Neighborhood center, consisting of compatible uses permitted within the zone, with the exception of Subsection A(11)and (13) through (36) listed above. The principal building shall be at least 20,000 square feet, and each individual use ortenant must include at least 1,500 square feet. Drive-through facilities shall not be permitted as part of a neighborhoodcenter.�Added ���������� by Ord� No� ��������

§ ���-��� Conditional uses.Conditional uses.A. The following uses may be permitted as conditional uses when authorized by the Planning Board in accordance with the

speci�cations and standards listed in Subsection B below:

(1) Truck sales and/or rental agencies, such as tractor-trailer and/or tractor agencies.

(2) Boat, farm equipment vehicles and recreation vehicle agencies.

15

DEMOGRAPHIC SUMMARY

TURNERSVILLE, NJDEMOGRAPHIC PROFILE

5550 ROUTE 42 1 MILE 3 MILES 5 MILES

2017 Businesses 335 2,032 4,788

2017 Employees 3,791 27,445 54,561

2017 Population - Current Year Estimate 7,554 67,985 176,457

2022 Population - Five Year Projection 7,633 68,514 178,674

2010 Population - Census 7,509 67,494 173,976

2000 Population - Census 7,634 65,568 168,252

2010-2017 Annual Population Growth Rate 0.08% 0.10% 0.20%

2017-2022 Annual Population Growth Rate 0.21% 0.16% 0.25%

2017 Population 7 ,554 67 ,985 176 ,457Age 0-4 412 5.5% 3,587 5.3% 9,927 5.6%Age 5-9 466 6.2% 4,062 6.0% 10,660 6.0%Age 10-14 513 6.8% 4,657 6.9% 11,346 6.4%Age 15-19 463 6.1% 4,570 6.7% 10,855 6.2%Age 20-24 400 5.3% 4,095 6.0% 10,873 6.2%Age 25-29 438 5.8% 4,637 6.8% 12,697 7.2%Age 30-34 459 6.1% 4,622 6.8% 12,424 7.0%Age 35-39 474 6.3% 4,348 6.4% 11,622 6.6%Age 40-44 501 6.6% 4,382 6.4% 11,358 6.4%Age 45-49 556 7.4% 4,823 7.1% 12,019 6.8%Age 50-54 580 7.7% 5,256 7.7% 13,084 7.4%Age 55-59 537 7.1% 5,188 7.6% 13,052 7.4%Age 60-64 462 6.1% 4,319 6.4% 11,092 6.3%Age 65-69 396 5.2% 3,448 5.1% 9,095 5.2%Age 70-74 316 4.2% 2,351 3.5% 6,462 3.7%Age 75-79 246 3.3% 1,466 2.2% 4,077 2.3%Age 80-84 179 2.4% 1,021 1.5% 2,782 1.6%Age 85 and Older 155 2.1% 1,154 1.7% 3,031 1.7%

2017 Median Age 41.5 39.3 39.1

2017 Population 7 ,554 67 ,985 176 ,457

White 6,274 83.1% 51,588 75.9% 128,235 72.7%

Black or African American 810 10.7% 9,661 14.2% 30,984 17.6%

Asian 185 2.4% 3,390 5.0% 7,629 4.3%

American Indian or Alaska Native 20 0.3% 147 0.2% 370 0.2%

Pacific Islander 10 0.1% 31 0.0% 82 0.0%

Other Race 92 1.2% 1,323 1.9% 4,026 2.3%

Two or More Races 162 2.1% 1,845 2.7% 5,131 2.9%

Hispanic 366 4.8% 4,507 6.6% 13,086 7.4%

White Non-Hispanic 6,068 80.3% 49,341 72.6% 121,962 69.1%

©2018 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are forexample only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the propertyfor your needs. Source: Esri Page 1 ProjectID:317733

PLACE OF WORK

POPULAT ION

A G E

RACE AND ETHNIC ITY

PATRICK MCCABEVice President+1 484 567 3344patrick.mccabe@cbre.comLicensed Salesperson: PALicensed Salesperson: NJ

CBRE, INC 625 West Ridge Pike Conshohocken, PA 19428 P: +1 610 834 8000 F: + 1 610 834 1793

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Capital Markets | Investment Properties