OFFERING MEMORANDUM

Capital Markets | Investment Properties

FORMER TWIN CITY FOODS PROCESSING PLANT10120269TH PLACE NWStanwood, WA 98292

$25,000,000

AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

CBRE, Inc. operates within a global family of companies with many subsidiaries and 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, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).

Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior

written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.

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

This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and

information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.

The Owner expressly reserves 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 at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.

© 2018 CBRE, Inc. All Rights Reserved.

T W I N C I T Y F O O D S P A C K A G I N G P L A N T

CONTACT US

STEVE BRUNETTEFirst Vice President+1 206 292 6007steve.brunette@cbre.com

ALLISON JONESAssociate+1 206 292 6009allison.jones@cbre.com

NOAH ROEHLSenior Real Estate Manager+1 360 720 5662noah.roehl@cbre.com

INDUSTRIAL OFFERING

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THE OFFERING

CBRE, Inc. is pleased to offer for sale the former Twin City Foods Processing Plant. The Property is a well-located cold-storage industrial building in the heart of Stanwood, with 189,016 square feet of rentable area situated on approximately 6.05 acres of land. Buyers have a unique opportunity to buy a highly-functional and well-maintained property at attractive pricing compared to replacement cost.

The Property, formerly utilized as a Twin City Foods Processing Plant, is zoned GI (General Industrial), allowing for a variety of industrial uses. The owner is offering the Property to qualified potential purchasers on a fee-simple, cash-at-close basis. Investors and users with interest in the site are encouraged to discuss and pursue suitable acquisition approaches within these parameters. The owner reserves the right to review and consider offers as received and/or refuse any or all offers in its sole discretion.

PROPERTY HIGHLIGHTS

+ Asking Price: $25,000,000 ($132 per sq. ft.)

+ Approximately 189,016 sq. ft. of rentable area

+ GI (General Industrial) allows for a variety industrial uses

+ Convenient access to I-5, 20 miles north of Everett

+ Rare large industrial space, perfect for owner-user

+ Additional acreage potentially available

+ Significant power: three-phase electrical/3200 amp

+ 81,812 sq. ft. of highly-desirable existing freezer area

+ Priced below replacement cost

+ “AA” rating per BRC Global Standards

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PRIME SNOHOMISH LOCATION

The Property is located within Snohomish County, which sits along Puget Sound between Skagit County to the north and King County to the south. With over 800,000 residents, Snohomish is the third-most populous county in Washington and is recognized as part of the Seattle-Bellevue-Everett Metropolitan Statistical Area (MSA).

More specifically, the Property is located in the city of Stanwood, a city directly accessed by SR-532, which fronts the Property. SR-532 forms an interchange with I-5, just over five miles east of the project, and serves as the main corridor connecting the greater Seattle area to the northern and southern counties.

1 Mile 3 Miles 5 Miles

2018 Population 968 8,847 17,572

Annual HH Growth Rate

0.91% 1.48% 1.29%

Some College or Higher

45.7% 62.8% 67.4%

Average HH Income $77,531 $88,190 $95,223

DEMOGRAPHICS

As a relatively rural community, area population is somewhat sparse, estimated at 17,572 residents within five miles. Notwithstanding, consistent with the general regional trends, population is expected to grow, with household growth estimate pegged at 1.29% over the next five years over the same area.

The population is relatively educated, with 67.4% of adult residents attending some college. Similarly, area residents enjoy a comfortable income level, with the average household income estimated at $95,223 annually within a 5-mile radius. Complete demographic reports are available upon request.

TWIN CITY FOODSPACKAGING PLANT

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ROBUST INDUSTRIAL MARKET CONDITIONS

The Seattle-Bellevue-Everett MSA’s industrial market is one of the strongest in the country due to a bustling economy and one of the largest ports on the west coast. High demand and a low supply of industrial space in the greater Seattle area has spiked the demand for space in the northern and southern counties, leading to low vacancy rates throughout the Seattle-Bellevue-Everett

MSA. In addition, the Snohomish County submarket is one of the largest submarkets in the metro geographically, but one of the smallest in terms of inventory, leading to higher demand for industrial property. Current industrial vacancy in the Snohomish submarket is as low as 4.4%, and the Seattle market sits at 3.3%.

LONG-TERM VALUE

While area sale prices remain high and industrial leasing rates continue to grow, purchase of the Property presents an opportunity for a buyer to acquire and occupy high-demand industrial space in a rising market. With land and construction costs inevitably rising, an existing building priced near replacement cost provides upside opportunity and bodes well for the potential long-term investment performance of the asset.

ECONOMIC GROWTH

The Puget Sound area, buoyed by a diversified 21st-century industry base is uniformly expected to continue experiencing economic expansion. The anticipated demand, coupled with limited supply and rising construction costs, contributes to expectations of rising rents in the area.

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Address10120 269th Pl NW

Stanwood, WA 98292

Tax Parcels32032400302500 (4.09 acres)32032400302800 (1.70 acres)00400100200100 (0.26 acres)

Zoning GI, General Industrial

Land Area* 6.05 acres (263,538 sq. ft.)

Rentable Building Area 189,016 sq. ft.

Gross Building Area

196,802 sq. ft.14,689 sq. ft. Mezzanine

109,590 sq. ft. Warehouse81,212 sq. ft. Freezer6,000 sq. ft. Office

PowerThree-phase electrical with at least

3200 amp capacity

Parking 138+ stalls

ConstructionReinforced 10” concrete slab over

concrete pilings

Year Built 1997

Doors7 Dock-high doors with levelers

2 Grade-high doors

Sprinklers The entire building is sprinklered

Ceiling Height 26’-30’

Flooring Sealed concrete

Exterior Finish Pointed concrete panels

Roof Built-up single-ply TPO

BRC Rating“AA” per BRC Global Standards,

2017.

OFFERING DETAILS

00462100000103

00462100002201

00584300301300

00584300300300

320324010302500

00400100200100

32032400302800

FOr SALeFormer Twin Cities Foods Processing Plant

Twin Cities Foods OwnedNot part of Sale, please inquire separately

PARCEL MAP

*Additional land acreage potentially available, please inquire.

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FLOOR PLAN

COLD STORAGEWAREHOUSE81.212 SQ. FT.

PACKAGINGROOM

30,600 SQ. FT.(COLD ROOM INCLUDED)

PROCESSING AREA70,300 SQ. FT.

FAB SHOP11,918 SQ. FT.

OFFICES5160 SQ. FT.

DRYSUPPLIES

11,263 SQ. FT.

LAB OFFICESSHOP

LUNCHROOM5000

SQ. FT.

COLD ROOM

DRY SUPPLIES

11,680 SQ. FT.

SHIPPING

AREA

1365 SQ. FT.

TUNNEL 3

TUNNEL 2

TUNNEL 1

LAB

FILMBUILDING

2400 SQ. FT.

2 FLOORS

COLD STORAGE: 81,212PACKAGING ROOM: 30,600PROCESSING AREA: 70,300DRY SUPPLIES: 11,680DRY SUPPLIES 2: 11,263FAB SHOP: 11,918ENGINE ROOM: 5760SHIPPING AREA: 1365FILM BUILDING: 2400

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HIGH FUNCTIONALITY

Having been in continuous operation since construction in 1997, the Property represents a high-functioning food processing and cold-storage facility with ample power, freezer storage, dock-high and grade-level access, as well as existing office, lab, and employee areas. The Property is well-suited to users especially those with interests in food processing and cold-storage industries.

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LOCATION & ACCESS

TWIN CITY FOODSPACKAGING PLANT

CONTACT US

STEVE BRUNETTEFirst Vice President+1 206 292 6007steve.brunette@cbre.com

ALLISON JONESAssociate+1 206 292 6009allison.jones@cbre.com

NOAH ROEHLSenior Real Estate Manager+1 360 720 5662noah.roehl@cbre.com

Capital Markets | Investment Properties