ACTUAL SITE

L A K E V I L L EMINNESOTA

SINGLETENANT

___________________

INVESTMENT OPPORTUNITY

(S&P: A)

(MINNEAPOLIS - ST. PAUL MSA)

EXCLUSIVELY MARKETED BY

ACTUAL SITE

FRANK ROGERS | FIRST VICE PRESIDENTSRS NATIONAL NET LEASE GROUP

101 W Big Beaver Road, Suite 14 | Troy, MI 48084DL: 248.688.0631 | M: 810.348.3324

Frank.Rogers@srsre.com | MI License No. 6501170267

MICHAEL CARTER | FIRST VICE PRESIDENTSRS NATIONAL NET LEASE GROUP

101 W Big Beaver Road, Suite 14 | Troy, MI 48084DL: 248.688.0630 | M: 586.549.4260

Michael.Carter@srsre.com | MI License No. 6501180257

Broker of Record: Dan Boschwitz, MN License No. 40358686

TABLE OF CONTENTS

4INVESTMENT SUMMARY

OFFERING SUMMARY | INVESTMENT HIGHLIGHTS

7PROPERTY OVERVIEW

AERIALS | SITE PLAN | LOCATION MAP

13AREA OVERVIEW

DEMOGRAPHICS

16FINANCIALS

RENT ROLL | BRAND PROFILE

ACTUAL SITE

4 | INVESTMENT SUMMARY | SRS NATIONAL NET LEASE GROUP .

INVESTMENT SUMMARY

ACTUAL SITE

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building) in a net leased, corporate guaranteed, GCR Tire Services property located in Lakeville, MN (Minneapolis - St. Paul MSA). The tenant, Bridgestone Americas Tire Operations, LLC, has 4 years remaining in their initial term with 4 (5-year) options to extend. The lease features 10% rental increases at the beginning of each option period and is NN with landlord responsibilities limited to roof, structure, and utility lines serving the building. GCR Tire Centers, Inc. operates as a subsidiary of Bridgestone Americas Tire Operations, LLC (S&P: A). GCR service centers target the larger manufactured tire product for Firestone/Bridgestone, with much of the business focused on retail but also service towards larger truck distributor fleet vehicles.

The GCR Tire & Service is strategically positioned just off 215th Street West (11,200 VPD) and only two miles east of Interstate 35 (37,300 VPD). The asset is ideally located within the Airlake Industrial Park, Minnesota’s second largest industrial park that spans over 1,500 acres of land. The park is home to over 200 companies, ranging from start-ups to large corporations with an estimated 4,500 employees, providing the asset with direct consumer base to draw from. Additionally, the site is positioned directly across from the new FedEx Freight distribution facility, which sits on 46 acres of land with 12 acres set aside for future expansion. Moreover, the asset is just under 2 miles northwest of Airlake Airport, a public use airport primarily used by recreational pilots. The airports positioning next to Airlake Industrial Park makes it ideally-suited for business aviation needs. Lakeville is a rapidly growing suburb in the Twin Cities MSA with a population of over 65,100 residents with an average household income $126,908.

RENTABLE AREA: 25,580 SF

LAND AREA: 3.37 Acres

PROPERTY ADDRESS: 21435 Humboldt Court, Lakeville, MN 55044

YEAR BUILT/ RENOVATED: 2006/2008

PARCEL NUMBER: 22-18525-01-040

OWNERSHIP: Fee Simple (Land and Building)

PROPERTY SPECIFICATIONS

5 | OFFERING HIGHLIGHTS | SRS NATIONAL NET LEASE GROUP .

ACTUAL SITE

OFFERING SUMMARY

PRICING: $4,610,000

NET OPERATING INCOME: $334,219

CAP RATE: 7.25%

GUARANTY: Corporate

TENANT: Bridgestone Americas Tire Operations, LLC (S&P: A)

LEASE TYPE: NN

LANDLORD RESPONSIBILITIES: Roof, Structure, and Utility Lines serving the Building

OFFERING

6 | INVESTMENT HIGHLIGHTS | SRS NATIONAL NET LEASE GROUP .

INVESTMENT HIGHLIGHTS

ACTUAL SITE

CORPORATE GUARANTEED LEASE | OPTIONS TO EXTEND | SUBSIDIARY OF BRIDGESTONE TIRES (S&P: A)

• GCR Tire Centers operates as a subsidiary of Bridgestone Americas Tire Operations, LLC• The tenant has 4 years remaining in their initial term with 4 (5-year) options to extend• Features 10% rental increases the beginning of each option period• GCR service centers target the larger manufactured tire product for Firestone/Bridge-

stone, with much of the business focused on retail but also service towards larger truck distributor fleet vehicles

NN LEASE | FEE SIMPLE OWNERSHIP | MINIMAL LANDLORD RESPONSIBILITIES• Tenant pays for CAM, taxes, and insurance• Landlord responsibilities limited to roof, structure, and utility lines serving the building

MAJOR THOROUGHFARE | NEAR INTERSTATE 35 (37,300 VPD)• GCR Tire & Service strategically positioned just off 215th Street West (11,200 VPD), a

major thoroughfare for commuters traveling to and from the Airlake Industrial Park• Two miles east of Interstate 35 (37,300 VPD), a major north/south route traveling

directly into the heart of Minneapolis (38 Min/28 Miles)• Convenient location with nearby direct on/off-ramp access

LOCATED WITHIN AIRLAKE INDUSTRIAL PARK (1,500 ACRES) | ACROSS FROM NEW FEDEX DISTRIBUTION FACILITY | NEAR AIRLAKE AIRPORT

• Located within the Airlake Industrial Park, Minnesota’s second largest industrial park that covers over 1,500 acres of land

• The park is home to over 200 companies, ranging from start-ups to large corporations with an estimated 4,500 employees

• Ideally positioned directly across from the new FedEx Freight distribution facility, which sits on 46 acres of land with 12 acres set aside for future expansion

• Just under 2 miles northwest of Airlake Airport• The airport’s positioning next to Airlake Industrial Park makes it ideally-suited for

business aviation needs• Provides the asset with a direct consumer base to draw from

GROWING SUBURB | STRONG DEMOGRAPHICS IN AFFLUENT 5-MILE TRADE AREA• Lakeville is a rapidly growing suburb in the Twin Cities MSA• More than 65,100 residents and nearly 19,000 employees support the trade area• $126,908 affluent average household income

7 | PROPERTY OVERVIEW | SRS NATIONAL NET LEASE GROUP .

PARCEL MAP

PROPERTY OVERVIEW

ACTUAL SITE

ACCESS

TRAFFIC COUNTS

IMPROVEMENTS

PARKING

YEAR BUILT

PARCEL

ZONING

Humboldt Court: ............................................................................... 1 Access Point

215th Street W: ........................................................................ 11,200 Cars Per DayInterstate 35: ............................................................................ 37,300 Cars Per Day

There is approximately 25,580 SF of existing building area.

There are approximately 35 parking spaces on the owned parcel. The parking ratio is approximately 31.68 stalls per 1,000 SF of leasable area.

2006

Parcel Number: 22-18525-01-040 Acres: 3.37 Square Feet: 146,587 SF

Commercial

215th St. W

Humboldt Ct.

11,200CARS PER DAY

Airlake Airport(425 Acres)

Airlake Industrial Park(1,500 Acres)

Humboldt Ct.

215th St. W11,200

CARS PER DAY

FedEx Distribution Plant

215th St. W

11,200CARS PER DAY

Airlake Airport(425 Acres)

Airlake Industrial Park

(1,500 Acres)

McGuire Middle SchoolLakeville South

High School

Lakeview Elementary School

Demographics 1 Mile 3 Mile 5 MileEstimated Population: 4,495 19,129 65,106Average Household Income: $109,431 $123,518 $126,908

Estimated Employees: 4,299 10,760 18,929

HYTRAIL

CIR.

HUMBOLDT CT.

LAKEVILLE

MINNEAPOLISST PAUL

38 Minutes | 28 Miles To Minneapolis

35 Minutes | 31 Miles To St Pual

2018 ESTIMATED POPULATION1 Mile ........................................................... 4,495 3 Mile ......................................................... 19,1295 Mile ......................................................... 65,106

2018 AVERAGE HOUSEHOLD INCOME1 Mile ......................................................$109,431 3 Mile ......................................................$123,5185 Mile ......................................................$126,908

2018 ESTIMATED TOTAL EMPLOYEES1 Mile ........................................................... 4,2993 Mile ......................................................... 10,7605 Mile ......................................................... 18,929

Lakeville, MinnesotaLakeville is a city in Dakota County, Minnesota, United States. It is a suburb of Minneapolis-Saint Paul, approximately 20 miles (32 km) south of both downtown Minneapolis and downtown St. Paul. Lakeville is one of the fastest-growing cities in the Twin Cities area. The City of Lakeville had a population of 63,683 as of July 1, 2018. Lakeville ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Minnesota.

Airlake Industrial Park, developed by Maynard Johnson with colleagues at Bloomington-based Hitchcock Industries, is home to as many as 200 companies and an estimated 4,500 employees. The 1,500-acre park, one of the state’s largest contiguous industrial parks, has attracted companies ranging from start-ups to large corporations.Airlake Industrial Park was a contrived name – “air” represented the airport that Hitchcock Industries built on the grounds and “lake” signified nearby Lake Marion.

The city is served by three different school districts, whose boundaries were determined while the community was largely agricultural. Today Independent School District 196 (“Rosemount-Apple Valley-Eagan”) and Farmington School District 192 serve parts of northern and eastern Lakeville. Most Lakeville households are served by Lakeville Area School District 194. In the fall of 2005, the Lakeville School District opened its second high school, Lakeville South. Some students attend public schools in other school districts chosen by their families under Minnesota’s open enrollment statute.Lakeville North was a Blue Ribbon school of excellence in 2009. Each high school has nearly 2,000 students. There are eight public elementary schools and three public middle schools. Century Middle School students go on to Lakeville North, McGuire Middle School students to Lakeville South, and Kenwood Middle School students to either, depending on their neighborhood of residence.

Airlake Airport is a public use airport in Dakota County, Minnesota, United States. Owned by the Metropolitan Airports Commission, it is 22 nautical miles (35 km) south of the central business district of Minneapolis.The airport is located near the Twin Cities suburbs of Lakeville and Farmington.This facility is included in the National Plan of Integrated Airport Systems for 2017–2021, which categorized it as a general aviation reliever airport.

13 | AREA OVERVIEW | SRS NATIONAL NET LEASE GROUP .

AREA OVERVIEW

Airlake Industrial ParkAirlake Industrial Park is located in Lakeville, Minnesota. Lakeville has had major industry since the 1960s—including the Airlake Industrial Park, which is served by Airlake Airport, a regional reliever airport.

Airlake Industrial Park, developed by Maynard Johnson with colleagues at Bloomington-based Hitchcock Industries, is home to as many as 200 companies and an estimated 4,500 employees. The 1,500-acre park, one of the state’s largest contiguous industrial parks, has attracted companies ranging from start-ups to large corporations. Having Airlake Industrial Park has been an asset to the city. The availability of land for companies looking to locate in Lakeville, having that industrial park has been a benefit to the city of Lakeville for decades. Airlake Industrial Park was a contrived name – “air” represented the airport that Hitchcock Industries built on the grounds and “lake” signified nearby Lake Marion. Lakeville is served by the Airlake Airport, which has a single runway with an ILS approach. The airport is managed by the Metropolitan Airports Commission as a reliever facility to draw general aviation traffic.This center provides traffic control services for Minnesota and surrounding states.Airlake Industrial Park have 1,500-acre park alongwith Airlake Airport which was created in 1966 byMaynard Johnson, of the Bloomington based manufacturing company Hitchcock Industries. And in 1997 Airlake Industrial Park was home to 77 businesses.

14 | AREA OVERVIEW | SRS NATIONAL NET LEASE GROUP .

AREA OVERVIEW

15 | AREA DEMOGRAPHICS | SRS NATIONAL NET LEASE GROUP .

AREA DEMOGRAPHICSDEMOGRAPHICS 1 MILE 3 MILES 5 MILES

2018 Estimated Population 4,495 19,129 65,1062023 Projected Population 4,842 20,673 69,2642010 Census Population 3,873 15,978 58,686Projected Annual Growth 2018 to 2023 1.50% 1.56% 1.25%Historical Annual Growth 2010 to 2018 1.82% 2.21% 1.27%

2018 Estimated Households 1,581 6,595 21,6822023 Projected Households 1,712 7,157 23,0962010 Census Households 1,373 5,442 19,470Projected Annual Growth 2018 to 2023 1.60% 1.65% 1.27%Historical Annual Growth 2010 to 2018 1.72% 2.36% 1.31%

2018 Estimated White 87.42% 88.68% 89.38%2018 Estimated Black or African American 4.38% 3.55% 3.14%2018 Estimated Asian or Pacific Islander 3.72% 3.86% 4.11%2018 Estimated American Indian or Native Alaskan 0.29% 0.35% 0.41%2018 Estimated Other Races 1.94% 1.68% 1.33%2018 Estimated Hispanic 5.03% 4.39% 3.98%

2018 Estimated Average Household Income $109,431 $123,518 $126,9082018 Estimated Median Household Income $88,873 $102,249 $105,1042018 Estimated Per Capita Income $38,469 $42,801 $42,383

2018 Estimated Total Businesses 299 678 1,4032018 Estimated Total Employees 4,299 10,760 18,929

RENT ROLL

16 | RENT ROLL | SRS NATIONAL NET LEASE GROUP .

LEASE TERM RENTAL RATES

TENANT NAME SQUARE FEET LEASE START LEASE END BEGIN INCREASE MONTHLY PSF ANNUALLY PSF RECOVERY TYPE OPTIONSBridgestone Americas 25,580 8/1/2013 7/31/2023 Current - $27,852 $1.09 $334,219 $13.07 NN 4 (5-Year)

Tire Operations, LLC 10% Incr. at beg.

(Corporate Guaranty) of each option

FINANCIAL INFORMATION PROPERTY SPECIFICATIONS

ACTUAL SITE

Price: ..................................................................................................................................$4,610,000Net Operating Income: ..........................................................................................................$334,219Cap Rate: ....................................................................................................................................7.25%Lease Type:..................................................................................................................................... NN

Year Built: .....................................................................................................................................2006Rentable Area: ...................................................................................................................... 25,580 SFLand Area: ........................................................................................................................... 3.37 AcresAddress: .........................................................................21435 Humboldt Court, Lakeville, MN 55044

For financing options and loan quotes, please contact our SRS Debt & Equity team at debtequity-npb@srsre.com.

GCR TIRE SERVICESGCR Tire Inc. operates tire products stores in North America. The company offers tires products and retreading services. It also operates retail stores, tire recapping facilities, and a wheel manufacturing plant. The company was formerly known as GCR Truck Tire Centers, Inc. and changed its name to GCR Tire Centers, Inc. in 2001. GCR Tire Centers, Inc. was founded in 1945 and is based in Austin, Texas. It has various commercial locations in the United States and Canada.

17 | BRAND PROFILE | SRS NATIONAL NET LEASE GROUP .

BRAND PROFILE

ACTUAL SITE

BRIDGESTONEBridgestone Corporation manufactures and sells tires and rubber products worldwide. The company was founded in 1931 and is headquartered in Tokyo, Japan.The company provides tires and tire tubes for passenger cars, trucks, buses, construction/mining vehicles, industrial machines, agricultural machines, aircraft, and motorcycles and scooters; and tire related products, retread materials and services, tire raw materials, and automotive maintenance and repair services. It also offers vehicle parts, polyurethane foam and related products, electronic precision parts, industrial materials related products, civil engineering and construction materials and equipment, and other products; commercial roofing and other materials; golf balls, golf clubs, other sports products; and bicycles, bicycle related and other products, as well as finance and other services.

Company Type: ..............................Public (K.K)2017 Employees: ................................. 142,6692017 Revenue: ............................ $3.64 Trillion2017 Net income: ..................... $288.28 Billion2017 Assets: ................................ $3.96 Trillion2017 Equity: ................................ $2.35 TrillionCredit Rating: ...........................................S&P:A

Company Type: ..................................... PrivateLocations: ..................................................163Website: .............................. www.gcrtires.com

1000+PROPERTIES CURRENTLY

REPRESENTED

$2.6B*TRANSACTION VALUE

600+CLIENTS REPRESENTED

IN 2016

250+BROKERS,

PROFESSIONALS,AND STAFF

#1LARGEST REAL ESTATE FIRM

EXCLUSIVELY DEDICATED TO RETAIL SERVICES IN NORTH AMERICA

20+OFFICES

*STATISTICS ARE FOR 2017.

SRS GLOBAL STATS

This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.

ACTUAL SITE