FILE PHOTO

Property. New 2,200+ SF building on +0.62 acres.

Tenant. Starbucks Corporation | FY 2017 financials: $22.4 billion in revenue and $4.1 billion in net income | Over 27,000 locations worldwide.

Lease structure. New 10-year, corporate net lease with 10% rent increases every 5 years in primary term and option periods.

Location. Starbucks is located along Holiday Dr. (32,000 VPD) in New Orleans, LA. The site is in close proximity to popular tourist destinations such as the French

Quarter and Bourbon Street, which experienced 10.45 million visitors resulting in an economic impact of $7.42 billion in 2016. The subject property benefits from the

Oakwood Center, a 952,000 SF regional mall, which serves the immediate trade area. Oakwood Center is anchored by several national credit tenants including Dillard’s,

JC Penney, and Old Navy, with additional tenants such as Dick’s, Best Buy, NTB, IHOP, Chick-fil-A, Raising Cane’s, Sprint, and T-Mobile. Other retailers in the

immediate trade area include Ross, TJ Maxx, Home Depot, Academy, Harbor Freight Tools, AutoZone, Dollar General, Sherwin Williams, O’Reilly, CVS, Walgreen’s,

Petco, Mattress Firm, Buffalo Wild Wings, Applebee’s, Popeye’s, Taco Bell, Burger King, Papa John’s, and many more. The site also features high population

demographics with 107,452 people residing within a 3-mile radius. The subject property is located approximately 5-miles southeast of downtown New Orleans.

214.522.7200

ALEX TOWER

atower@trivanta.com

RUSSELL SMITH

rsmith@trivanta.com

BOB MOORHEAD

bob@trivanta.com

Trivanta (“Agent”) has been engaged as an agent for the sale of the property located at

3400 Holiday Dr., New Orleans, LA by the owner of the Property (“Seller”). The Property is

being offered for sale in an “as-is, where-is” condition and Seller and Agent make no

representations or warranties as to the accuracy of the information contained in this

Offering Memorandum. The enclosed materials include highly confidential information and

are being furnished solely for the purpose of review by prospective purchasers of the

interest described herein. The enclosed materials are being provided solely to facilitate the

prospective investor’s own due diligence for which it shall be fully and solely responsible.

The material contained herein is based on information and sources deemed to be reliable,

but no representation or warranty, express or implied, is being made by Agent or Seller or

any of their respective representatives, affiliates, officers, employees, shareholders,

partners and directors, as to the accuracy or completeness of the information contained

herein. Summaries contained herein of any legal or other documents are not intended to be

comprehensive statements of the terms of such documents, but rather only outlines of

some of the principal provisions contained therein. Neither the Agent nor the Seller shall

have any liability whatsoever for the accuracy or completeness of the information contained

herein or any other written or oral communication or information transmitted or made

available or any action taken or decision made by the recipient with respect to the Property.

Interested parties are to make their own investigations, projections and conclusions without

reliance upon the material contained herein. Seller reserves the right, at its sole and

absolute discretion, to withdraw the Property from being marketed for sale at any time and

for any reason. Seller and Agent each expressly reserves the right, at their sole and

absolute discretion, to reject any and all expressions of interest or offers regarding the

Property and/or to terminate discussions with any entity at any time, with or without notice.

This offering is made subject to omissions, correction of errors, change of price or other

terms, prior sale or withdrawal from the market without notice. Agent is not authorized to

make any representations or agreements on behalf of Seller. Seller shall have no legal

commitment or obligation to any interested party reviewing the enclosed materials,

performing additional investigation and/or making an offer to purchase the Property unless

and until a binding written agreement for the purchase of the Property has been fully

executed, delivered, and approved by Seller and any conditions to Seller’s obligations

hereunder have been satisfied or waived. By taking possession of and reviewing the

information contained herein, the recipient agrees that (a) the enclosed materials and their

contents are of a highly confidential nature and will be held and treated in the strictest

confidence and shall be returned to Agent or Seller promptly upon request; and (b) the

recipient shall not contact employees or tenants of the Property directly or indirectly

regarding any aspect of the enclosed materials or the Property without the prior written

approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied

or otherwise reproduced without the prior written authorization of Seller and Agent.

PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW

PAGE 2: TABLE OF CONTENTS | DISCLAIMER

PAGE 12: DEMOGRAPHICS

PAGE 8-9: LOCATION OVERVIEW

PAGE 10-11: LOCATION MAPS

PAGE 7: SITE PLAN

PAGE 5-6: AERIAL PHOTOS

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PAGE 4: TENANT OVERVIEW CONTINUED

LOUISIANA BROKER OF RECORD:

JOE MANN | RETAIL SPECIALISTS, INC. | LICENSE # 0995685381-CORP

PRICE | CAP RATE: $2,629,000 | 5.25%

NET OPERATING INCOME: $138,006

BUILDING AREA: 2,200+ Square Feet

LAND AREA: 0.62+ Acres

YEAR BUILT: 2018

LANDLORD RESPONSIBILITY: Roof & Structure

OWNERSHIP: Fee Simple Interest

OCCUPANCY: 100%

STARBUCKS | www.starbucks.com | NASDAQ: SBUX

Starbucks Corporation is an international coffee and coffeehouse chain based in Seattle, Washington, United States. Starbucks is the largest coffeehouse

company in the world, with over 27,000 stores globally, including around 13,000 in the United States, followed by nearly 1,000 in Canada and more than 900 in

Japan. Starbucks sells drip brewed coffee, espresso-based hot drinks, other hot and cold drinks, snacks, and items such as mugs and coffee beans. Through the

Starbucks Entertainment division and Hear Music brand, the company also markets books, music, and film. Many of the company’s products are seasonal or

specific to the locality of the store. Starbucks-brand ice cream and coffee are also offered at grocery stores.

Starbucks retail stores are located in high-traffic, high-visibility locations. Its stores are located in or near a variety of settings, including downtown and suburban

retail centers, office buildings and university campuses.

The Company sells whole bean and ground coffees, including the Starbucks and Seattle’s Best Coffee brands, as well as a selection of premium Tazo teas, VIA

and other related products, to institutional foodservice companies that service business and industry, education, healthcare, office coffee distributors, hotels,

restaurants, airlines and other retailers.

From Starbucks founding in later forms as a local coffee bean roaster and retailer, the company has expanded rapidly. In the 1990s, Starbucks was opening a new

store every workday, a pace that continued into the 2000s. The first store outside the United States or Canada opened in the mid-’90s, and overseas stores now

constitute almost one third of Starbucks stores. In fiscal 2017, the company reported revenues of $22.4 billion and net income of $4.1 billion

Starbucks Corporation, a Washington Corporation.

Projected Lease Expiration: September 25, 2028

Projected Rent Commencement: September 25, 2018

Lease Term: 10-Years, Plus (4), 5-Year Options to Extend

Rent Increases: 10% Every 5 Years In Primary Term & Options

Lease Type: Corporate Net Lease

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Annual Rent Yrs 1-5: $138,006

Annual Rent Yrs 6-10: $151,800

Option 1 | Yrs 11-15: $166,980

Option 2 | Yrs 16-20: $183,678

Option 3 | Yrs 21-25: $202,048

Option 4 | Yrs 26-30: $222,244

4Source:starbucks.com

~ 28,000

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5

Oakwood Center

(952,000 SF)

Lakewood

Golf Club

American Cable

& Telephone

Edna Karr High

School

(1,080 students)

French Quarter

(Approx. 5-miles from site)

6

Parc Fontaire

Apartments

Algiers Regional

Library

Landing at

Behrman Place

Retirement

Azaleas Assisted

Living

Behman

Office Park

Beh

man

Pl.

Kaleb

Dr.

Mac Arthur

Place

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IMMEDIATE TRADE AREA

Starbucks is located along Holiday Dr. (32,000 VPD) in New Orleans, LA.

Holiday Dr. is a local thoroughfare which serves New Orleans, LA and the

eastern suburbs. The site is in close proximity to popular tourist destinations

such as the French Quarter and Bourbon Street, which experienced 10.45

million visitors resulting in an economic impact of $7.42 billion in 2016. The

subject property is located approximately 5-miles southeast of downtown New

Orleans.

The traffic volumes, growth, population density, and accessibility of the

immediate trade area have attracted numerous nationally known retail brands.

The subject property benefits from the Oakwood Center, a 952,000 SF regional

mall, which serves the immediate trade area. Oakwood Center is anchored by

several national credit tenants including Dillard’s, JC Penney, and Old Navy,

with additional tenants such as Dick’s, Best Buy, NTB, IHOP, Chick-fil-A,

Raising Cane’s, Sprint, and T-Mobile. Other retailers in the immediate trade

area include Ross, TJ Maxx, Home Depot, Academy, Harbor Freight Tools,

AutoZone, Dollar General, Sherwin Williams, O’Reilly, CVS, Walgreen’s, Petco,

Mattress Firm, Buffalo Wild Wings, Applebee’s, Popeye’s, Taco Bell, Burger

King, Papa John’s, and many more. The site also features high population

demographics with 107,452 people residing within a 3-mile radius.

NEW ORLEANS, LA

New Orleans, located at the mouth of the Mississippi River in southern

Louisiana, is the largest city in the state. The area was under French and

Spanish rule until being sold to the United States by France as part of the

Louisiana Purchase in 1803. The blending of French, Spanish, and African

influences created the Creole Society and cuisine for which New Orleans is

famous for.

New Orleans is a major U.S. port and the largest city by population in the state

of Louisiana with a 378,715 residents. The New Orleans economy is based on

twin pillars of tourism and shipping. Additionally, New Orleans has a thriving

energy sector along with a fast growing film industry presence. New Orleans

consistently ranks as one of the top 10 tourist destinations in the U.S. The city

is known for its jazz, Creole food, 18th and 19th century architecture,

streetcars, museums, and arts. Famous festivals like Mardi Gras, the New

Orleans Jazz Festival, and Satchmo SummerFest attract hundreds of

thousands of tourists to New Orleans each year. The city has taken advantage

of its status as a major tourism destination by establishing itself as one of the

top convention sites in the country. The Ernest M. Morial Convention Center

plays a significant role in drawing the city’s 8.3 million annual visitors. The

tourism and convention industries employ 85,000 people in New Orleans and

contribute $5.5 billion annually to the local economy.

New Orleans has traditionally been known for having a nightlife second to

none, housing bars and drinking establishments many of which are located on

the famous Bourbon Street. Over the years, visitors to this area have grown

accustomed to walking through the street with an alcoholic beverage in hand,

sampling first rate jazz, blues, and other types of music through all hours of the

night. Bourbon Street is rich with historic venues, social tales, and iconic

buildings. Also known as “Rue Bourbon,” this monumental street sits at the

heart of the French Quarter extending 13 blocks from Canal Street to

Esplanade Avenue.

Major sporting events also provide a significant impact to the local economy.

Annual college football games such as the Bayou Classic, the New Orleans

Bowl, and the Sugar Bowl are held at the MercedesBenz Superdome. New

Orleans is 1 of 4 rotating sites for college football’s BCS National

Championship. The city hosted BCS National Championship in January 2013

and Super Bowl XLVII in February 2013 at the Mercedes-Benz Superdome.

The city’ proximity to the Gulf and Mississippi River provide an ideal location for

a waterborne transportation hub. Port of New Orleans handles about 62 million

short tons of cargo each year, which makes the port 1st in the U.S. based on

volume of cargo handled, 2nd largest in the state and the 13th largest in the

United States based on value of cargo. The port has the longest wharf in the

world, which can accommodate 15 vessels at one time. The port handles about

50,000 barges, and 700,000 cruise passengers per year. The 2 ports oversee

6,000 vessels and 500 million tons of cargo each year, including over half of

the country’s grain exports.

New Orleans is home to Entergy, a Fortune500 listed company engaged in

electric power production and retail distribution operations. Top regional

employers include Louisiana State University Health (7,000+ employees),

Northrop Grumman Ship Systems (6,000+ employees), and Tulane University

(5,000+ employees). Other notable employers are University of New Orleans,

North Oaks Health System, DOW Chemical, and Chevron Production.

Prosperity NOLA is the first comprehensive development plan in New Orleans’

recent history. It is a catalyst for economic transformation, designed to ensure

the city’s vitality for its tri-centennial in 2018 and beyond. More than 200

stakeholders from business, government, education, philanthropy, and the

broader economic development community came together to create Prosperity

NOLA in 2012. Using a data-driven process, the initiative’s Strategic Advisory

Council selected to aggressively support five key economic clusters based on

their strength and projected growth. The plan builds upon the city’s economic

cornerstones, its people, innate culture, locational advantages, and resolutely

tackles challenges that hinder opportunities to create jobs and wealth for all

New Orleans residents.8

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NEW ORLEANS-METAIRIE METROPOLITAN AREA

New Orleans-Metairie, LA Metro Area is the 47th largest metropolitan statistical area in the nation with a combined population of 1.26M people and a median age of 37.6.

In 2015, the median household income in New Orleans-Metairie, LA Metro Area was $48,343, a 3.33% growth from the previous year. Also in 2015 there were 592,425

residents in New Orleans-Metairie, LA Metro Area with jobs, a 1.77% growth over 2014. Occupation, wage, and industry data, over time, for New Orleans-Metairie, LA

Metro Area collected from the American Community Survey. Black or African American is the most likely racial or ethnic group to be impoverished in New Orleans-Metairie,

LA Metro Area. The mostly highly paid racial or ethnic group, White people made 1.06 times what Asian workers, the second most highly paid group, made. On average,

wages are distributed more evenly in New Orleans-Metairie, LA Metro Area than they are nationally.

Insurance and Medicare coverage combined with state and county level health and safety statistics for New Orleans-Metairie, LA Metro Area. In Louisiana the age groups

most likely to have health care coverage are 6-17, men and women, respectively. The location has a 1 to 65 primary care clinician to patient ratio and a Medicare

reimbursement average per patient per year of $11,221. These numbers represent a 0.18% growth during that year. Medicare Reimbursements per Enrollee in Louisiana

are $1,633 more than the national average.

The demographics of New Orleans-Metairie, LA Metro Area residents recorded by the American Community Survey. 95.7% of New Orleans-Metairie, LA Metro Area

residents were US citizens in 2015, a number that is higher than the national average of 93%. The median age of native-born residents of New Orleans-Metairie, LA Metro

Area is 37, and the most common country of origin for those not born in the US was the Mexico. New Orleans-Metairie, LA Metro Area has 655,405 White residents and

434,291 Black residents. Data about majors, degrees, and enrollment at higher education institutions in New Orleans-Metairie, LA Metro Area. The most common major for

those earning a Bachelor's Degree in New Orleans-Metairie, LA Metro Area was General Psychology. With 4,471 graduates, Tulane University of Louisiana graduated the

largest number of students in New Orleans-Metairie, LA Metro Area. In 2015, 6,236 more women than men graduated from institutions in New Orleans-Metairie, LA Metro

Area.

NEW ORLEANS, LA

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2017 Est. Labor Population Age 16 Years or Over 14,865 84,832 217,524

2017 Est. Civilian Employed 56.4% 57.7% 58.3%

2017 Est. Civilian Unemployed 3.1% 3.2% 2.9%

2017 Est. in Armed Forces 0.7% 0.6% 0.4%

2017 Est. not in Labor Force 39.8% 38.5% 38.4%

2017 Labor Force Males 45.0% 47.1% 48.7%

2017 Labor Force Females 55.0% 52.9% 51.3%

2010 Occupation: Population Age 16 Years or Over 8,412 49,168 126,832

2010 Mgmt, Business, & Financial Operations 13.3% 11.5% 12.5%

2010 Professional, Related 21.9% 20.5% 23.2%

2010 Service 24.5% 22.7% 22.1%

2010 Sales, Office 20.1% 22.4% 20.9%

2010 Farming, Fishing, Forestry 0.5% 0.6% 0.7%

2010 Construction, Extraction, Maintenance 10.5% 11.7% 11.0%

2010 Production, Transport, Material Moving 9.1% 10.6% 9.6%

2010 White Collar Workers 55.4% 54.4% 56.6%

2010 Blue Collar Workers 44.6% 45.6% 43.4%

2010 Drive to Work Alone 73.3% 75.9% 74.3%

2010 Drive to Work in Carpool 9.4% 10.3% 9.5%

2010 Travel to Work by Public Transportation 7.6% 5.4% 5.6%

2010 Drive to Work on Motorcycle 0.1% 0.1% 0.1%

2010 Walk or Bicycle to Work 6.1% 4.3% 5.8%

2010 Other Means 0.9% 0.8% 0.9%

2010 Work at Home 2.6% 3.3% 3.7%

2010 Travel to Work in 14 Minutes or Less 16.8% 19.4% 24.4%

2010 Travel to Work in 15 to 29 Minutes 38.1% 41.5% 40.8%

2010 Travel to Work in 30 to 59 Minutes 34.0% 30.1% 27.8%

2010 Travel to Work in 60 Minutes or More 8.8% 6.7% 7.4%

2010 Average Travel Time to Work 24.1 23.2 22.0

2017 Est. Total Household Expenditure $375 M $1.98 B $5.44 B

2017 Est. Apparel $13.1 M $69.2 M $190 M

2017 Est. Contributions, Gifts $25.2 M $128 M $363 M

2017 Est. Education, Reading $14.9 M $74.7 M $213 M

2017 Est. Entertainment $20.8 M $110 M $301 M

2017 Est. Food, Beverages, Tobacco $58.0 M $310 M $842 M

2017 Est. Furnishings, Equipment $12.5 M $65.9 M $182 M

2017 Est. Health Care, Insurance $33.2 M $177 M $483 M

2017 Est. Household Operations, Shelter, Utilities $117 M $618 M $1.70 B

2017 Est. Miscellaneous Expenses $5.57 M $29.7 M $81.0 M

2017 Est. Personal Care $4.87 M $25.8 M $70.8 M

2017 Est. Transportation $69.8 M $376 M $1.02 B

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3400 Holiday Dr1 mi radius 3 mi radius 5 mi radius

New Orleans, LA 70114

2017 Estimated Population 18,675 107,452 269,234

2022 Projected Population 18,829 109,839 278,885

2010 Census Population 16,780 100,346 235,042

2000 Census Population 18,174 116,028 306,148

Projected Annual Growth 2017 to 2022 0.2% 0.4% 0.7%

Historical Annual Growth 2000 to 2017 0.2% -0.4% -0.7%

2017 Estimated Households 7,665 40,632 108,253

2022 Projected Households 7,782 42,119 113,551

2010 Census Households 6,872 38,293 96,038

2000 Census Households 7,219 43,182 118,643

Projected Annual Growth 2017 to 2022 0.3% 0.7% 1.0%

Historical Annual Growth 2000 to 2017 0.4% -0.3% -0.5%

2017 Est. Population Under 10 Years 13.3% 13.6% 12.5%

2017 Est. Population 10 to 19 Years 11.4% 12.2% 11.4%

2017 Est. Population 20 to 29 Years 14.2% 14.6% 15.0%

2017 Est. Population 30 to 44 Years 21.4% 21.4% 22.3%

2017 Est. Population 45 to 59 Years 19.4% 18.6% 19.0%

2017 Est. Population 60 to 74 Years 14.8% 14.3% 14.6%

2017 Est. Population 75 Years or Over 5.5% 5.3% 5.1%

2017 Est. Median Age 36.8 35.8 36.2

2017 Est. Male Population 46.2% 47.8% 49.1%

2017 Est. Female Population 53.8% 52.2% 50.9%

2017 Est. Never Married 40.4% 41.9% 44.4%

2017 Est. Now Married 32.7% 32.3% 30.1%

2017 Est. Separated or Divorced 19.2% 19.3% 19.2%

2017 Est. Widowed 7.7% 6.5% 6.2%

2017 Est. HH Income $200,000 or More 4.1% 2.8% 4.1%

2017 Est. HH Income $150,000 to $199,999 3.7% 3.5% 4.1%

2017 Est. HH Income $100,000 to $149,999 8.2% 9.4% 9.8%

2017 Est. HH Income $75,000 to $99,999 8.7% 9.4% 9.1%

2017 Est. HH Income $50,000 to $74,999 12.7% 15.3% 14.3%

2017 Est. HH Income $35,000 to $49,999 10.6% 14.2% 13.5%

2017 Est. HH Income $25,000 to $34,999 12.7% 12.4% 11.1%

2017 Est. HH Income $15,000 to $24,999 15.4% 14.2% 13.4%

2017 Est. HH Income Under $15,000 23.9% 18.8% 20.7%

2017 Est. Average Household Income $61,028 $59,766 $62,582

2017 Est. Median Household Income $42,642 $43,900 $45,908

2017 Est. Per Capita Income $25,069 $22,821 $25,492

2017 Est. Total Businesses 616 3,593 15,364

2017 Est. Total Employees 5,465 33,619 182,196

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New Orleans, LA 70114

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