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Alum Creek Plaza

OFFERING MEMORANDUM

WESTERVILLE, OH

CONFIDENTIALITY AND DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

WESTERVILLE, OH

Alum Creek Plaza

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.

NON-ENDORSEMENT NOTICE

Section 1 PROPERTY DESCRIPTION

Section 2 PRICING AND FINANCIAL ANALYSIS

Section 3 DEMOGRAPHIC ANALYSIS

Section 4 MARKET OVERVIEW

TABLE OF CONTENTS

Alum Creek PlazaWESTERVILLE, OH


PROPERTY DESCRIPTION

Marcus & Millichap, on behalf of ownership as its exclusive advisor, is pleased to bring to market Alum Creek Plaza in Westerville, Ohio. The subject property is a 95.5 percent occupied, 22,300-square-foot retail strip center situated on 3.81 acres, and is part of the larger Alum Creek Plaza shopping center development which is anchored by Iron Pony Motorsports (unowned). Major tenants at Alum Creek Plaza include American Learning Center, GS Powersports, U.S. Citizenship & Immigration, and Nanak Bakery. Combined, these four tenants occupy nearly 59 percent of the gross leasable area. In total, there are eleven units, with one vacancy. Half of the tenants, comprising approximately 53 percent of the occupied gross leasable area, are leased to triple-net terms, and reimburse for their pro-rata share of operating expenses including real estate taxes, common area maintenance, and insurance, as well as management and administrative fees. The other five tenants are leased to gross terms. Nine of the ten current tenants have one or more scheduled rent increases in the near future, providing the investor meaningful rent growth over the hold period. Importantly, there is zero lease turnover in the over the next 1.5 years, as all tenants are leased through February 2019 and beyond, with several leased into 2020 or 2021. Immediate upside exists in lease-up of the 1,000-square-foot endcap vacancy, and there is near-term upside in converting gross leases into triple-net leases as they come due for renewal.

Alum Creek Plaza is located along Westerville Road within the densely populated Columbus suburb of Westerville. Traffic counts are high, with 25,162 cars per day on Westerville Road, and 28,118 cars per day on Dublin-Granville Road, for a combined traffic count of over 50,000 cars a day at the intersection of the two streets just south of the subject property. Alum Creek Plaza is one mile from Interstate 270 with 153,010 cars per day. The surrounding area has a dense infill population with 15,702 residents within one mile, 111,016 residents within three miles, and 266,001 residents within five miles. Average household income is $69,454 within five miles. The subject property is within the Westerville City School District, one of the highest rated school districts in the Columbus MSA. Nearby retailers include The Columbus MSA is home to a population of 2.1 million.

Investment Highlights

■ 95.5% Occupied, 22,300 SF Strip Center in Westerville, OH(Columbus MSA)

■ Shadow-Anchored by 103,042 SF Iron Pony Motorsports

■ Ease of Management – 11 Units Averaging 2,000 SF Each

■ Half of Tenants (53% of GLA) are NNN Also Paying for Mgmt &Admin Fees

■ 9 of the 10 Tenants Have Scheduled Rent Increases – MeaningfulNear-Term NOI Growth

■ Zero Lease Turnover in the next 1.5 Years - Most Tenants are leasedthrough 2019, 2020, or 2021

■ Immediate Upside Opportunity in Leasing the 1,000 SF EndcapVacancy

■ Near-Term Upside in Converting Gross Leases to NNN Leases

■ High Traffic Counts: 25,162 Cars/Day on Westerville Road,50,000+ Cars/Day at Nearby Intersection of Dublin-Granville Road

■ 1 Mile from I-270 with 153,010 Cars/Day

■ Dense Infill Demographics: 15,702 Residents within 1-Mi, 111,016Residents in 3-Mi & 266,001 Residents in 5-Mi

■ Within the Highly Rated Westerville City School District

■ Columbus MSA – Population of 2.1 Million

1



This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Ohio, Inc. © 2017 Marcus &Millichap. All rights reserved.

INVESTMENT OVERVIEW

The Offering

Property Alum Creek Plaza

Property Address 5436-5484 Westerville Road

Westerville, OH 43081

Assessor's Parcel Number 600-148041-00

Zoning Commercial

Site Description

Number of Stories One

Year Built 1976

Gross Leasable Area (GLA) 22,300 SF

Lot Size 3.81 Acres

Type of Ownership Fee Simple

Parking 97 Spaces

Landscaping Excellent

Topography Level

Construction

Foundation Concrete Slab

Framing Masonry

Parking Surface Asphalt

Mechanical

HVAC Rooftop Mounted

Fire Protection To Code

Utilities All Local Providers

2




PROPERTY SUMMARY

Alum Creek Plaza

Alum Creek Plaza

103,042 SF Iron Pony Motorsports Shadow-Anchor

Not Included in Sale

103,042 SF Iron Pony Motorsports Shadow-Anchor

Not Included in Sale

7




Local Map Regional Map

AREA MAPS

8

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age areapproximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Ohio, Inc. © 2017 Marcus &Millichap. All rights reserved.


PARCEL MAP


9



AERIAL PHOTO



PRICING AND FINANCIAL ANALYSIS

Price $1,975,000

Down Payment 70% $1,382,500

Price per Square Foot (GLA) $88.57

Gross Leasable Area (GLA) 22,300

Year Built 1976

Lot Size 3.81 Acres

Parking 97 Spaces

VITAL DATA

CAP Rate - Current 9.43%

Net Operating Income - Current $186,253

Net Cash Flow After Debt Service - Current $144,503

Total Return - Current 11.40% / $157,629

11

Major Tenants


Tenant Name

American Learning Center

GS Powersports

U.S. Citizenship & Immigration

Nanak Bakery

Exertion Training

Aguilar

Watsons Barbershop

Mahana Wellness Center


Major Employers

CompanyLocal

Employees

L Brands 10,000

JP Morgan Chase 3,108

Ross Products Division 3,075

Police Precinct 6 1,897

Liebert North America Inc 1,800

Kroger 1,538

Value Creation Partners Inc 1,505

Emerson Network Power 1,315

Ohio Dept Natural Resources 1,148

Womanco Enterprise 1,120

Bisys Fund Services 1,000

Police Precinct 2&18 850

Demographics


1-Mile 3-Miles 5-Miles

2014 Total

Population

15,702 111,016 266,001

2019 Total

Population

16,046 112,319 275,708

2014 Total

Households

6,403 46,115 111,639

2019 Total

Households

6,516 46,876 116,714

Median HH Income $50,029 $47,801 $51,863

Per Capita Income

(based on Total

Population)

$24,114 $25,639 $29,311

Average (Mean) HH

Income

$58,726 $61,340 $69,454

OFFERING SUMMARY

12




TENANT SUMMARY

Tenant Sq. Ft. % of GLA

Lease

Commencement

Lease

Expiration

Current

Annual Rent

Annual

Rent/SF Options Expense Reimbursements

Inline Space

Exertion Training 2,000 8.97% 3/1/2014 3/31/2019 $20,500 $10.25 (1) 3 Year Tax, Ins, CAM, Mgt, Adm

inc 4/1/2018 3/31/2019 $21,000 $10.50

Aguilar (Grocer) 1,800 8.07% 3/23/2015 6/30/2020 $19,800 $11.00 None None

inc 7/1/2018 6/30/2019 $20,700 $11.50

inc 7/1/2019 6/30/2020 $21,600 $12.00

Mahana Wellness Center 1,100 4.93% 5/15/2016 7/31/2019 $9,350 $8.50 None Tax, Ins, CAM, Mgt, Adm

inc 8/1/2018 7/31/2019 $9,900 $9.00

Nail Artist 1,100 4.93% 6/1/2005 3/31/2019 $14,300 $13.00 None None

Fresh Start Church 1,100 4.93% 12/16/2015 2/28/2019 $12,360 $11.24 None None

inc 3/1/2018 2/28/2019 $12,720 $11.56

U.S. Citizenship & Immigration 2,400 10.76% 6/15/2015 10/31/2020 $24,970 $10.40 (2) 5 Year Tax, Ins, CAM, Mgt, Adm

inc 11/1/2018 10/31/2020

Nanak Bakery 2,400 10.76% 10/15/2013 4/30/2019 $24,000 $10.00 None None

inc 5/1/2018 4/30/2019 $25,200 $10.50

American Learning Center 4,700 21.08% 5/1/2011 7/31/2021 $57,575 $12.25 (1) 5 Year Tax, Ins, CAM, Mgt, Adm

inc 8/1/2019 7/31/2021 $59,928 $12.75

Watsons Barbershop 1,100 4.93% 3/6/2017 7/31/2024 $11,150 $10.14 None Tax, Ins, CAM, Mgt, Adm

inc 2/1/2021 7/31/2024 $12,960 $11.78

GS Powersports 3,600 16.14% 5/1/2009 2/29/2020 $33,600 $9.33 None None

inc 3/1/2018 2/28/2019 $34,800 $9.67

inc 3/1/2019 2/29/2020 $36,000 $10.00

Vacancy #5480 1,000 4.48% $10,000 $10.00 None

Occupied Space 21,300 95.52% $227,605

Vacant Space 1,000 4.48% $10,000

Total GLA 22,300 100.00% $237,605

Alum Creek Plaza

Westerville, Ohio

Annua l 2% Increases

13



EXPENSE REIMBURSEMENTS


Tenant Sq. Ft. Pro‐Rata Share Tax Reimb Ins Reimb CAM Reimb Mgt Fee Adm Fee Comments

Inline Space

Exertion Training 2,000 8.97% $2,646 $549 $2,751 $943 $275 Net + 10%Adm

Aguilar (Grocer) 1,800 8.07% $0 $0 $0 $0 $0 Gross

Mahana Wellness Center 1,100 4.93% $1,455 $302 $1,513 $519 $227 Net + 15%Adm

Nail Artist 1,100 4.93% $0 $0 $0 $0 $0 Gross

Fresh Start Church 1,100 4.93% $0 $0 $0 $0 $0 Gross

U.S. Citizenship & Immigration 2,400 10.76% $3,175 $659 $3,301 $1,132 $330 Net + 10%Adm

Nanak Bakery 2,400 10.76% $0 $0 $0 $0 $0 Gross

American Learning Center 4,700 21.08% $6,217 $1,290 $6,465 $2,216 $647 Net + 10%Adm

Watsons Barbershop 1,100 4.93% $1,455 $302 $1,513 $519 $227 Net + 15%Adm

GS Powersports 3,600 16.14% $0 $0 $0 $0 $0 Gross

Vacancy #5480 1,000 4.48%

Occupied Space 21,300 95.52% $14,948 $3,102 $15,544 $5,329 $1,706

Vacant Space 1,000 4.48% $0 $0 $0 $0 $0

Total GLA 22,300 100.00% $14,948 $3,102 $15,544 $5,329 $1,706

Expense Reimbursement

14



Current Per SF

Real Estate Taxes $29,500 $1.32

Insurance $6,122 $0.27

Vacant Utilities $1,646 $0.07

Reimbursed Utilities $1,268 $0.06

Other Non-Reimbursed $2,253 $0.10

CAM

Utilities $6,077 $0.27

Repairs & Maintenance $9,474 $0.42

Contract Services $15,125 $0.68

TOTAL CAM $30,676 $1.38

Management Fee (% of EGI) $10,516 $0.47

TOTAL EXPENSES $81,981 $3.68


EXPENSES

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Current Per SF

Base Rent

Occupied Space $227,605 $10.69

Vacant Space at Market Rents (1,000 SF) $10,000 $10.00

GROSS POTENTIAL RENT $237,605 $10.65

Expense Reimbursements

Real Estate Taxes $14,948 $0.67

Insurance $3,102 $0.14

CAM $15,544 $0.70

Management Fee $5,329 $0.24

Administrative Fee $1,706 $0.08

GROSS POTENTIAL INCOME $278,234 $12.48

Vacancy/Collection Allowance (% of GPR) 4.2% / $10,000 $0.45

EFFECTIVE GROSS INCOME $268,234 $12.03

Total Expenses $81,981 $3.68

NET OPERATING INCOME $186,253 $8.35

Reserves / Replacements $2,230 $0.10

NET CASH FLOW BEFORE DEBT SERVICE $184,023 $8.25


Gross Leasable Area (GLA) 22,300 SF

INCOME & EXPENSES

5436-5484 Westerville Road

Westerville, OH 43081

Price $1,975,000

Down Payment 70% $1,382,500

Gross Leasable Area (GLA) 22,300

Price/SF $88.57

CAP Rate - Current 9.43%

Lot Size 3.81 Acres

Year Built 1976

FIRST TRUST DEED

Loan Amount $592,500

Interest Rate 4.5%

Amortization 25 Years

Annualized Operating Data

Income Current

Base Rent

Occupied Space $227,605

Vacant Space at Market Rents (1,000 SF) $10,000

Gross Potential Rent $237,605

Expense Reimbursements $40,629

Gross Potential Income $278,234

Vacancy/Collection Allowance 4.2% / $10,000

Effective Gross Income $268,234

Total Expenses $81,981

Net Operating Income $186,253

Reserves / Replacements $2,230

Net Cash Flow Before Debt Service $184,023

Debt Service $39,520

Debt Coverage Ratio 4.71

Net Cash Flow After Debt Service 10.45% / $144,503

Principal Reduction $13,126

Total Return 11.40% / $157,629

16

Location


Financing


ExpensesReal Estate Taxes $29,500

Insurance $6,122

Vacant Utilities $1,646

Reimbursed Utilities $1,268

Other Non-Reimbursed $2,253

CAM

Utilities $6,077

Repairs & Maintenance $9,474

Contract Services $15,125

TOTAL CAM $30,676

Management Fee (% of EGI) 4% / $10,516

TOTAL EXPENSES $81,981

EXPENSES/SF $3.68


Loan information is time sensitive and subject to

change. Contact your local Marcus & Millichap Capital

Corporation representative.

FINANCIAL OVERVIEW


DEMOGRAPHIC ANALYSIS

1 Mile 3 Miles 5 Miles

2000 Population 13,873 104,007 232,233

2010 Population 15,199 106,730 254,157

2014 Population 15,702 111,016 266,001

2019 Population 16,046 112,319 275,708

2000 Households 5,948 43,782 95,971

2010 Households 6,162 44,117 106,154

2014 Households 6,403 46,115 111,639

2019 Households 6,516 46,876 116,714

2014 Average Household Size 2.40 2.39 2.36

2014 Daytime Population 3,865 50,890 128,233

2000 Owner Occupied Housing Units 45.02% 50.18% 56.32%

2000 Renter Occupied Housing Units 48.29% 44.67% 37.98%

2000 Vacant 6.69% 5.16% 5.69%



2014 Vacant 4.39% 5.81% 5.43%



2019 Vacant 4.09% 5.98% 5.35%

$ 0 - $14,999 12.0% 12.9% 12.1%

$ 15,000 - $24,999 11.5% 11.5% 10.4%

$ 25,000 - $34,999 11.3% 12.1% 11.2%

$ 35,000 - $49,999 15.3% 15.3% 14.8%

$ 50,000 - $74,999 25.4% 20.8% 19.5%

$ 75,000 - $99,999 13.9% 12.7% 12.8%

$100,000 - $124,999 5.9% 7.2% 8.4%

$125,000 - $149,999 1.9% 3.3% 4.1%

$150,000 - $199,999 1.4% 2.4% 3.8%

$200,000 - $249,999 0.6% 0.7% 1.2%

$250,000 + 1.0% 1.1% 1.7%

2014 Median Household Income $50,029 $47,801 $51,863

2014 Per Capita Income $24,114 $25,639 $29,311

2014 Average Household Income $58,726 $61,340 $69,454

Demographic data © 2012 by Experian.

18




DEMOGRAPHIC REPORT

Geography: 5 miles

Population

In 2014, the population in your selected geography is 266,000. The population has changed by 14.54% since 2000. It is estimated

that the population in your area will be 275,708 five years from now, which represents a change of 3.64% from the current year. The

current population is 47.87% male and 52.12% female. The median age of the population in your area is 34.9, compare this to the

Entire US average which is 37.3. The population density in your area is 3,381.72 people per square mile.

Households

There are currently 111,639 households in your selected geography. The number of households has changed by 16.32% since 2000.

It is estimated that the number of households in your area will be 116,714 five years from now, which represents a change of 4.54%

from the current year. The average household size in your area is 2.36 persons.

Income

In 2014, the median household income for your selected geography is $51,862, compare this to the Entire US average which is

currently $51,972. The median household income for your area has changed by 12.23% since 2000. It is estimated that the median

household income in your area will be $61,798 five years from now, which represents a change of 19.15% from the current year.

The current year per capita income in your area is $29,310, compare this to the Entire US average, which is $28,599. The current

year average household income in your area is $69,454, compare this to the Entire US average which is $74,533.

Race & Ethnicity

The current year racial makeup of your selected area is as follows: 64.26% White, 26.30% Black, 0.04% Native American and 3.45%

Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and

5.02% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin make up 5.49% of the current year

population in your selected area. Compare this to the Entire US average of 17.13%.

Housing

In 2000, there were 57,316 owner occupied housing units in your area and there were 38,654 renter occupied housing units in your

area. The median rent at the time was $513.

Employment

In 2014, there are 128,233 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed

that 70.32% of employees are employed in white-collar occupations in this geography, and 29.67% are employed in blue-collar

occupations. In 2014, unemployment in this area is 5.57%. In 2000, the average time traveled to work was 22.5 minutes.


19




SUMMARY REPORT

Number of people living in a given area per square mile.


20




POPULATION DENSITY

The number of people employed in a given area per square mile.


21




EMPLOYMENT DENSITY

Average income of all the people 15 years and older occupying a

single housing unit.


22




AVERAGE HOUSEHOLD INCOME

23



TRAFFIC COUNTS



MARKET OVERVIEW

25

MARKET OVERVIEW


Columbus Metro

Geography

The Columbus metro is composed of 10 counties

located in the gently rolling hills of central Ohio. It is

Ohio’s most populated metropolitan area and has

natural landmarks that include reservoirs to the north

and the Scioto River, which bisects the city. Franklin

County, home to Columbus, is surrounded by mainly

rural counties.


COLUMBUS

Market Highlights

Logistics hub

■ Rickenbacker Inland Port provides air, truck and rail

transport throughout the U.S.

Midwestern commercial center

■ Greater Columbus is home to four Fortune 500

companies and many regional operations.

Affordable housing costs

■ The median home price in Columbus at $164,700 is

well below the national level of $225,800.

26

MARKET OVERVIEW

Largest Cities in Metro by Population


* ForecastSources: Marcus & Millichap Research Services, U.S. CensusBureau, Experian

Metro

The Columbus metro contains a population of nearly 2

million people and comprises eight counties: Delaware,

Licking, Fairfield, Pickaway, Union, Morrow, Madison,

Perry, Hocking and Franklin. The metro’s population

will increase 5.0 percent over the next five years, slightly

above the national rate. Columbus, the capital city, also

has the largest population with 829,200 residents.

Infrastructure

Columbus is a national transportation and distribution

hub, with nearly 60 percent of the U.S. population

within an eight-hour driving radius. Interstates 70 and

71 intersect in Columbus, while I-270 forms a beltway

around the metro and I-670 bisects the city.

Port Columbus International Airport, located east of

downtown, is the primary passenger facility. General

aviation airports Bolton Field and OSU Don Scott also

provide air service. Rickenbacker International is one of

the world’s few international airports primarily

dedicated to cargo transport. Freight rail service to the

airport and throughout the region is offered by CSX

and Norfolk Southern railways.

Central Ohio Transit Authority provides bus service

throughout Franklin County and portions of Delaware,

Fairfield, Licking and Union counties.


Columbus 829,200

Newark 48,100

Dublin 44,800

Lancaster 39,500

Grove City 38,900

Westerville 38,800

Airports

■ Port Columbus International Airport

■ Rickenbacker International

■ OSU Don Scott and Bolton Field general

aviation airports

Major Roadways

■ Interstates 70, 71, 270 and 670

■ Highways 23, 33 and 62

Rail

■ Freight - CSX, Norfolk Southern

The Columbus Metro is:

■ 190 miles from Detroit

■ 360 miles from Chicago

■ 405 miles from Washington, D.C.

■ 570 miles from Atlanta

COLUMBUS

27

MARKET OVERVIEW


* ForecastSources: Marcus & Millichap Research Services, Bureau ofEconomic Analysis, Moody's Analytics, U.S. Census Bureau,Fortune

Economy

Relatively diverse employment opportunities,

Columbus’ designation as the state capital and the

presence of Ohio State University provide a strong

foundation for healthy local economic activity.

Major corporations are drawn to Columbus’ lower

business costs, stellar education system and strategic

location. The metro is home to four Fortune 500

companies, L Brands, Cardinal Health, American

Electric Power and Nationwide, as well as many

regional and subsidiary operations.

Columbus has a strong tradition of nurturing local

enterprises into national and global powerhouses.

Wendy’s and L Brands, both headquartered in

Columbus, support thousands of jobs in the metro and

are involved in community development.

Information technology is a growing sector in

Columbus with the recent addition of IBM’s Client

Center for Advanced Analytics. A collaborative

partnership with Ohio State University will draw and

train workers in a business and technology curriculum,

preparing workers for data analytics jobs.

The housing sector in Columbus is improving. More

than 7,300 residential building permits were issued in

2015, and home sales are trending higher.


COLUMBUS

28

MARKET OVERVIEW


Labor

Local employers provide more than 1 million jobs in the Columbus metro, and the labor market is expected to

expand at an annual pace of 1.8 percent over the next five years as the region’s employment base becomes more

diversified. All major job sectors except manufacturing will post gains during this period. The manufacturing

industry’s share of total employment has diminished in recent years to 7 percent. The sector will continue to play a

role in the local economy.

The trade, transportation and utilities sector is a key industry to the local economy, accounting for 19 percent of

total employment. The sector’s dominance is linked to the metro’s central U.S. location, its well-developed

infrastructure and the presence of major corporations that ship worldwide. Employment in this segment is

expected to rise by 1.0 percent annually over the next five years.

The professional and business services, and government sectors are also major employers in the economy. They

provide 18 and 16 percent, respectively, of metro jobs, or roughly 350,000 workers. These segments will increase

at an annual pace of 3.4 percent and 1.0 percent, respectively through 2020. The construction sector will have the

largest growth during this period, at 5.8 percent.


* ForecastSources: Marcus & Millichap Research Services, BLS, Moody’s Analytics

COLUMBUS

29

MARKET OVERVIEW


Major Private Employers

Employers

Columbus’ standing as the state capital and Ohio State

University’s impact on the local economy have helped

the region remain popular with relocating and

expanding companies. The metro houses a number of

nationally and globally recognized corporations in a

wide array of industries.

Honda of America Mfg. has been in the metro since

1979, when it started producing motorcycles in

Marysville. The company has moved its North

American headquarters from Los Angeles to Marysville.

Additional Honda facilities are located in the nearby

communities of Anna and East Liberty. Honda employs

a significant portion of local residents.

Nationwide Insurance, already one of the largest private

employers in Columbus, is expected to grow in the years

ahead as the vast group of aging baby boomers utilizes

its financial and insurance products and services for

retirement and investment planning.

L Brands, (formerly Limited Brands), one of Columbus’

most recognized local firms, is an integral corporate

entity to the metro economy. The company employs

thousands at its corporate offices and retail outlets.

Successful subsidiary organizations of L Brands,

including Victoria’s Secret and Abercrombie & Fitch,

also maintain corporate headquarters in the metro.

* ForecastSources: Marcus & Millichap Research Services, BLS, Moody’sAnalytics, Experian


JPMorgan Chase

Nationwide Insurance

Honda of America

L Brands

Nationwide Children's Hospital

PNC Financial Services Group

Huntington Bancshares Inc.

Cardinal Health

American Electric Power

Express Script Holdings Co.

Alliance Data Retail Systems

COLUMBUS

30

MARKET OVERVIEW


Demographics

Population growth in the Columbus metro will outpace

the nation over the next five years with the addition of

nearly 100,000 residents. These gains will be supported

by a steadily improving employment landscape.

Columbus will continue to benefit from the expansion

of local companies as well as a projected influx of college

students. The metro is relatively young, largely the

result of the presence of Ohio State University. The

median age is 35.7 years, below the U.S. median of

37.5. Residents younger than 20 make up 27 percent of

the population, while those age 65 or older comprise

just 12 percent.

The metro has cultivated a highly educated populace;

32.4 percent of residents age 25 and older have earned

at least a bachelor’s degree and more than 11 percent

have also obtained an advanced degree. Educational

attainment generally translates into high incomes.

Area inhabitants enjoy a median household income that

remains slightly above the national median, and the

presence of major corporations and the region’s

entrepreneurial spirit will keep median incomes slightly

above the U.S. level during the coming years. High

earnings and home prices that are well below the

national median have resulted in 63 percent of residents

owning their home.

* ForecastSources: Marcus & Millichap Research Services, AGS, Experian,Moody’s Analytics, U.S. Census Bureau


COLUMBUS

31

MARKET OVERVIEW


The information contained in the market overview comes from sources deemed to be reliable, however, no representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein. The most timely data available at time of production, including estimates and forecasts, were used and may be subject to revision.

Quality of Life

Columbus may be best known as a college town, but for

a midsize community, it offers residents big-city

amenities. The metro is home to major league sports

teams: the Blue Jackets (NHL) and the Crew (MLS).

The Columbus Clippers are the Triple-A affiliate of the

Cleveland Indians (MLB) and play their home games in

downtown Columbus.

The city is host to the Columbus Symphony Orchestra,

Ballet Met and Opera Columbus, in addition to more

than a dozen theater companies, more than 100 art

galleries and dealers, and a variety of museums. Many of

the galleries and restaurants are located in Short North,

a vibrant neighborhood north of downtown. The metro

is also home to various annual festivals and the Ohio

State Fair. Additionally, the world-famous Columbus

Zoo and Aquarium is known for its unique exhibits.

Outdoor recreational opportunities abound. The metro

hosts a multitude of golf courses, as well as nearby

reservoirs and an extensive park system. For wintertime

activities, Columbus is a one-hour drive from Mad

River Mountain ski area in Bellefontaine.

The region’s economic vitality and social scene are

supported by a strong post-secondary education

network. Columbus contains the nationally recognized

Ohio State University, as well as many other four-year

colleges, universities, and two-year institutions.* ForecastSources: Marcus & Millichap Research Services, Economy.com,National Association of Realtors, U.S. Census Bureau


COLUMBUS

WESTERVILLE, OH

OFFERING MEMORANDUM

Alum Creek Plaza

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