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B P G A S O L I N E of fer ing memorandum

JERSEY CITY, NEW JERSEY

1 5 0 5 K E N N E D Y B L V D | J E R S E Y C I T Y , N E W J E R S E Y 0 7 0 4 7

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Marcus & Millichap is pleased to present this BP Gas in Jersey City, New Jersey, only eight miles from New York City. There are more than nine years remaining on this triple-net (NNN) ground lease featuring two percent annual increases. The lease is guaranteed by British Petroleum Products North America, Incorporated: who registered more than $219 billion of revenue in 2017. A national brand tenant, BP was ranked 12 on the June 2017 Global Fortune 500 list.

The subject asset is highly visible and easily accessible on the signalized hard corner of John F. Kennedy Boulevard and West 63rd Street. This heavily trafficked thoroughfare sees more than 17,000 vehicles per day (VPD). This asset also benefits from being nearby Interstate 78, a major highway connecting Pennsylvania, New Jersey, and New York seeing more than 110,000 vehicles per day (VPD). Located in a densely populated area, this asset has more than 41,000 residents within one mile and more than five million residents within 10 miles. Hudson Mall is located just north, with anchor tenants including Marshalls & HomeGoods, Pizza Hut, Taco Bell, Lowe’s Home Improvement, Burger King, Dunkin’ Donuts, and more.

Two miles north of BP Gas is a significant capital commitment of seven and a half million-dollar West Side Avenue mixed-use development. This project calls for the construction of a 26,411-square-foot, five-story above grade, 32-unit multi-residential development.

Additional retailers in the immediate vicinity include: Walgreens, Dunkin’ Donuts, McDonald’s, Pizza Hut, PNC Bank, The Home Depot, and many more.

I N V EST M E N T OV E RV I E W

2This 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 are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID:

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• Recently Remodeled BP Gas in Jersey City, New Jersey | Eight Miles from Downtown New York City.

• Triple-Net (NNN) Ground Lease with More Than Nine Years Remaining | Zero Landlord Responsibilities

• Hedge Against Inflation | Annual Rent Bumps of Two Percent | Two, Ten Year Options

• Corporate Guaranty | $219 Billion in Revenue | Standard and Poor’s (S&P) rating of A- | Ranked 12 on the June 2017 Global Fortune 500 List

• Signalized Hard Corner Location of John F. Kennedy Boulevard and West 63rd Street | 17,000 Vehicles Per Day (VPD)

• Significant Capital Commitment to Market | More Than $11 Million in Development Permits

• Strong Demographics | More Than Five Million Residents Within 10 Miles

• Additional Retailers in the Immediiate Vicinity Include: Walgreens, Dunkin’ Donuts, McDonald’s, Pizza Hut, PNC Bank, The Home Depot, and many more

INVESTMENT HIGHLIGHTS

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F I N A N C I A L O V E R V I E W

PRICE $4,018,000

CAP RATE 5.00%

NOI $200,940

PRICE PER SQUARE FOOT $1,141.48

RENT PER SQUARE FOOT $57.09

YEAR BUILT 1965/2017

APPROXIMATE LOT SIZE .43 Acres

GROSS LEASEABLE AREA 3,520

TYPE OF OWNERSHIP Fee Simple

LEASE GUARANTORBP Products North America, Inc

LEASE TYPETriple-Net (NNN)Ground Lease

ROOF AND STRUCTURE Tenant Responsibility

1 5 0 5 K E N N E D Y B L V DJ E R S E Y C I T Y , N J 0 7 3 0 5

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4This 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 are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID:

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L E A S E S U M M A RY

LEASE COMMENCEMENT DATE 8/1/2017

LEASE EXPIRATION DATE 7/31/2027

LEASE TERM 10 Years

TERM REMAINING 9+ Years

INCREASES2 Percent Annual Bumps

OPTIONS TO RENEW 2, 10-Years

FIRST RIGHT OF REFUSAL Yes

FIRST RIGHT OF REFUSAL None

A N N U A L I Z E D O P E R A T I N G D A T A

BASE RENTANNUAL

RENTMONTHLY

RENT

8/1/2017 7/31/2018 $197,000.00 $16,416.67

8/1/2018 7/31/2019 $200,940.00 $16,745.00 2%

8/1/2019 7/31/2020 $204,959.00 $17,079.92 2%

8/1/2020 7/31/2021 $209,058.00 $17,421.50 2%

8/1/2021 7/31/2022 $213,239.00 $17,769.92 2%

8/1/2022 7/31/2023 $217,504.00 $18,125.33 2%

8/1/2023 7/31/2024 $221,854.00 $18,487.83 2%

8/1/2024 7/31/2025 $226,291.00 $18,857.58 2%

8/1/2025 7/31/2026 $230,817.00 $19,234.75 2%

8/1/2026 7/31/2027 $235,433.00 $19,619.42 2%

OPTIONS

8/1/2027 7/31/2028 $240,142.00 $20,011.83 2%

8/1/2028 7/31/2029 $244,945.00 $20,412.08 2%

8/1/2029 7/31/2030 $249,844.00 $20,820.33 2%

8/1/2030 7/31/2031 $254,841.00 $21,236.75 2%

8/1/2031 7/31/2031 $259,937.00 $21,661.42 2%

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5This 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 are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID:

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T E N A N T O V E R V I E WBP, a company headquartered in London, is the world’s fifth top natural gas company by revenue. BP operates major natural gas production sites around the globe, from the Americas to the Middle East to Southeast Asia. It also has substantial worldwide oil exploration and production operations, in addition to petrochemical, lubricant and retail gasoline businesses.

The company’s nationwide retail presence includes around 7,100 BP sites. BP continues to make new investments in its retail business, both to enhance its products and to upgrade its stations. In 2016, BP launched a new version of its leading fuel brand, BP gasoline with Invigorate, which uses an innovative formula to help remove dirt from car engines. Meanwhile, nearly 300 BP-branded sites joined the company’s U.S. retail network.

BP has many different personalities, with one purpose. Much of BP’s business operates under the main brand, BP, but other familiar national brands include Amoco, Castrol, and convenience shop AMPM.

T E N A N T P R O F I L E

TENANT TRADE NAME BP

OWNERSHIP BP Public Limited Company (PLC)

TENANT BP Products North America Inc.

LEASE GUARANTOR BP Products North America Inc.

NUMBER OF LOCATIONS 7,000 Plus

SALES VOLUME $219 Billion

NET WORTH $100 Billion

STOCK SYMBOL NYSE: BP

CREDIT RATING A-

RATING AGENCY Standard & Poor (S&P)

RANK #5 Natural Gas Company

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7This 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 are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID:

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A B O U T J E R S E Y C I T YJersey City is the second-most populous city in New Jersey, after Newark. It is the seat of Hudson County as well as the county’s largest city. Known as the nation’s “Golden Door,” Jersey City is fittingly nestled in the shadows of the historic Ellis Island and Statue of Liberty, and is one of the nation’s most diverse cities, comprised of over 265,000 residents.

Once a city driven by immigrants working in the shipping and manufacturing industries, Jersey City has transformed into a modern urban community. Old factories have been repurposed and reborn into office buildings and housing units. Jersey City’s vibrant culture and diversity and commitment to collaboration and innovation, create unparalleled quality of life for residents and businesses. Given Jersey City’s proximity and accessibility by rapid transit to Manhattan, Jersey City is sometimes referred to as New York City’s Sixth Borough.

The economy of Jersey City employs 136,778 people. The economy of Jersey City is specialized in Finance & Insurance; Transportation & Warehousing; and Information. The median property value increased from $331,100 to $376,300, a 13.7% increases.

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8This 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 are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID:

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AirportUnion

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CORONA

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HobokenJOURNAL SQUARE

Bayonne

MASPETH

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Plains

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ARROCHARTODT HILL

BUSHWICK

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ELMHURST

Cranford

BROOKLYN

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RED HOOK

BrooklinHeights

SpringfieldTownship

HarrisonWoodside

CANARSIE

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New York

LOWERMANHATTAN

MANHATTAN

BAY RIDGEOld Place

Irvington

WEEQUAHIC

Vauxhall

WOODHAVEN

RIDGEWOOD

Weehawken

WestfieldElizabeth

FLATLANDS

Maplewood

West NewYork

Bloomfield

OZONE PARK

PARK SLOPE

Union CityLivingston

BULLS HEAD

Belleville

GREENVILLE

GREENPOINT

Kenilworth

BROWNSVILLE

EAST NEW YORK

SUNSET PARK

East Orange North Beach

SHORT HILLS

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Williamsburg

HELL’S KITCHEN

GRANITEVILLE

SAINT GEORGE

BOROUGH PARK

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BERGEN BEACH

MILL BASIN

SHEEPSHEADBAY

CROWNHEIGHTS

FORT HAMILTON

EAST FLATBUSH

COLLEGEPOINT

EAST ELMHURST

REGO PARK

MIDDLEVILLAGE

FORESTHILLS

UPPEREAST SIDE

JACKSONHEIGHTS

MARINERSHARBOR

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2000 Population 172,303 491,244 4,727,313 2010 Households 10,031 48,458 101,832 2017 Average HH Income $117,225 $115,349 $121,835

2010 Population 173,673 530,067 4,859,357 2017 Households 10,404 50,915 107,775 2017 Median HH Income $94,677 $88,710 $93,922

2017 Population 180,357 567,491 5,128,347 2022 Households 10,760 52,781 111,863 2017 Per Capital Income $47,982 $46,949 $46,110

MARCUS & MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWS:

The i n f o rma t i on con t a i ned i n t h i s Ma r ke t i ng B rochu re has been ob t a i ned f r om sou rces we be l i e ve t o be r e l i ab l e. Howeve r, Ma rcus & M i l l i c hap has no t and w i l l no t ve r i f y an y o f t h i s i n f o rma t i on , no r has Ma rcus & M i l l i c hap conduc ted any i n ves t i ga t i on r ega rd i ng t hese ma t t e r s . Ma rcus & M i l l i c hap makes no gua ran t ee, wa r r an t y o r r ep resen t a t i on wha t soeve r abou t t he accu racy o r comp le t eness o f an y i n f o rma t i on p ro v i ded .

As t he Buye r o f a ne t l e a sed p rope r t y, i t i s t he Buye r ’s r e spons i b i l i t y t o i ndependen t l y con f i rm t he accu racy and comp le t eness o f a l l ma te r i a l i n f o rma t i on be fo re comp le t i ng any pu r chase. Th i s Ma rke t i ng B rochu re i s no t a subs t i t u t e f o r you r t ho rough due d i l i gence i n ves t i ga t i on o f t h i s i n ves tmen t oppo r t un i t y. Ma rcus & M i l l i c hap e xp ress l y den i e s any ob l i ga t i on t o conduc t a due d i l i gence e xam ina t i on o f t h i s P rope r t y f o r Buye r.

Any p ro j ec t i ons , op i n i ons , a s sump t i ons o r e s t ima tes used i n t h i s Ma r ke t i ng B rochu re a r e f o r e xamp le on l y and do no t r ep resen t t he cu r r en t o r f u t u r e pe r f o rmance o f t h i s p rope r t y. The va l ue o f a ne t l e a sed p rope r t y t o you depends on f ac to r s t ha t shou l d be e va l ua t ed by you and you r t a x , f i n anc i a l and l ega l adv i so r s .

Buye r and Buye r ’s t a x , f i n anc i a l , l ega l , and cons t r uc t i on adv i so r s shou l d conduc t a ca re f u l , i ndependen t i n ves t i ga t i on o f an y ne t l e a sed p rope r t y t o de t e rm ine t o you r sa t i s f ac t i on w i t h t he su i t ab i l i t y o f t he p rope r t y f o r you r needs .

L i ke a l l r ea l e s t a t e i n ves tmen t s , t h i s i n ves tmen t ca r r i e s s i gn i f i c an t r i s k s . Buye r and Buye r ’s l ega l and f i n anc i a l adv i so r s mus t r eques t and ca re f u l l y r e v i ew a l l l ega l and f i n anc i a l documen t s r e l a t ed t o t he p rope r t y and t enan t . Wh i l e t he t enan t ’s pas t pe r f o rmance a t t h i s o r o t he r l oca t i ons i s an impo r t an t cons i de r a t i on , i t i s no t a gua r an t ee o f f u t u r e success . S im i l a r l y, t he l ease r a t e f o r some p rope r t i e s , i n c l ud i ng new l y -cons t r uc t ed f ac i l i t i e s o r new l y - acqu i r ed l oca t i ons , may be se t based on a t enan t ’s p ro j ec t ed sa l e s w i t h l i t t l e o r no r eco rd o f ac t ua l pe r f o rmance, o r compa rab l e r en t s f o r t he a r ea . Re tu r ns a r e no t gua r an t eed ; t he t enan t and any gua r an to r s may f a i l t o pay t he l ease r en t o r p rope r t y t a xes , o r may f a i l t o comp l y w i t h o t he r ma te r i a l t e rms o f t he l ease ; cash f l ow may be i n t e r r up t ed i n pa r t o r i n who l e due t o ma rke t , econom ic, env i r onmen ta l o r o t he r cond i t i ons . Rega rd l e s s o f t enan t h i s t o r y and l ease gua r an t ees , Buye r i s r e spons i b l e f o r conduc t i ng h i s /he r own i n ves t i ga t i on o f a l l ma t t e r s a f f ec t i ng t he i n t r i n s i c v a l ue o f t he p rope r t y and t he va l ue o f an y l ong- t e rm l ease, i n c l ud i ng t he l i k e l i hood o f l oca t i ng a r ep l acemen t t enan t i f t he cu r r en t t enan t shou l d de f au l t o r abandon t he p rope r t y, and t he l ease t e rms t ha t Buye r may be ab l e t o nego t i a t e w i t h a po ten t i a l r ep l acemen t t enan t cons i de r i ng t he l oca t i on o f t he p rope r t y, and Buye r ’s l ega l ab i l i t y t o make a l t e r na t e use o f t he p rope r t y.

By accep t i ng t h i s Ma r ke t i ng B rochu re you ag ree t o r e l ease Ma rcus & M i l l i c hap Rea l E s t a t e I n ves tmen t Se r v i ces and ho l d i t ha rm less f r om any k i nd o f c l a im , cos t , e xpense, o r l i ab i l i t y a r i s i ng ou t o f you r i n ves t i ga t i on and /o r pu r chase o f t h i s ne t l e a sed p rope r t y.

B R O K E R O F R E C O R D : B R I A N H O S E Y | M A R C U S & M I L L I C H A P | N E W J E R S E Y | L I C E N S E : 1 4 3 4 9 1 7

1 5 0 5 K E N N E D Y B L V D J E R S E Y C I T Y , N E W J E R S E Y 0 7 0 4 7

B P G A S O L I N E of fer ing memorandum

JERSEY CITY, NEW JERSEY