R I T E A I DM AT T H E W S ( C H A R LOT T E M S A ) , N C

C L I C K H E R E F O R A E R I A L F O O T A G E

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T A B L E O F C O N T E N T S

T R A N S A C T I O N T E A M

S T E V E H O R V A T H7 0 4 - 3 7 9 - 1 9 8 1h o r v a t h @ b e r k e l e y c a p . c o m C A R L B R E N D E S7 0 4 - 7 1 4 - 2 3 6 3b r e n d e s @ b e r k e l e y c a p . c o m

R A N S O M E F O O S E7 0 4 - 3 7 9 - 1 9 8 5f o o s e @ b e r k e l e y c a p . c o m M E G H A N D A V I D S O N7 0 4 - 7 1 4 - 2 3 7 8d a v i d s o n @ b e r k e l e y c a p . c o m

M I K E L U C I E R7 0 4 - 9 4 3 - 3 1 5 8l u c i e r @ b e r k e l e y c a p . c o m

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O F F E R I N G O V E R V I E W 6

I N V E S T M E N T H I G H L I G H T S 7

A E R I A L S 8

S H O P P I N G C E N T E R S I T E P L A N 11

T E N A N T N E W S 12

M A R K E T O V E R V I E W 13

D E M O G R A P H I C S 16

C O N F I D E N T I A L I T Y 17

NC RE LICENSE NO.: C9467

1 5 0 9 0 I D L E W I L D R O A D

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O F F E R I N G O V E R V I E W

T R A F F I C C O U N T S

AADT

IDLEWILD ROAD 21,500

I-485 51,000

P R O P E R T Y D E T A I L S

NAME RITE AID NET OPERATING INCOME $354,317

ADDRESS 15090 IDLEWILD ROAD RENT INCREASES APPROX. 2% IN EACH OPTION PERIOD

MARKET MATTHEWS (CHARLOTTE MSA), NC 28104 RENT COMMENCEMENT FEBRUARY 1, 2005

BUILDING SIZE 13,813 SF RENT EXPIRATION JANUARY 31, 2025

LAND SIZE 1.55 AC LEASE TYPE ABSOLUTE NET

PARKING 70 SPACES ORIGINAL LEASE TERM 20 YEARS

TENANT RITE AID CORPORATION LEASE TERM REMAINING 8 YEARS

YEAR BUILT 2005 OPTIONS FOUR, 5-YEAR

RIGHT OF FIRST REFUSAL NO ASKING PRICE $5,669,072 (6.25% CAP RATE)

D E M O G R A P H I C S N A P S H O T

1-MILE 3-MILE 5-MILE

2022 POP. PROJECTION 4,049 37,252 107,062

2017 POP. ESTIMATE 3,736 34,504 98,865

POP. GROWTH 2000-2017 83.67% 66.55% 71.81%

HH GROWTH 2000-2017 75.85% 65.33% 70.63%

2017 EST. AVG. HH INCOME $97,054 $96,210 $90,396

for detai led demographics, p lease cl ick HERE

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PUBLICLY TRADED TENANTRite Aid (NYSE: RAD) is the largest drugstore chain on the East Coast and the third-largest in the United States. The company operates approximately 4,600 stores in 31 states and the District of Columbia, having a strong presence on both the east and west coasts. Rite Aid stores generate roughly 70% of their sales from filling prescriptions, while the rest comes from selling health and beauty aids, convenience foods, greeting cards, and more, including some 3,500 Rite Aid brand private-label products. More than 60% of all Rite Aid stores are freestanding and over half have drive-through pharmacies.

8 YEARS REMAINING | ABSOLUTE NETAn investor will assume an absolute net lease with eight years remaining on the initial term.

HARRIS TEETER OUTPARCELRite Aid is well positioned at a signalized corner intersection as an outparcel to a very busy Harris Teeter grocery anchored center. Other tenants within the center and outparcel operators include: Exxon, Wells Fargo, Dollar Tree, The Learning Experience Daycare, Anytime Fitness, Autobell Car Wash, including other eateries and shops.

GREAT ACCESSEach vehicle that enters the shopping center must pass directly by Rite Aid. That includes vehicles that want to access the Wells Fargo and Autobell Car Wash out-parcels. The Rite Aid parking lot and drive-thru can be accessed from each en-trance point into the shopping center as well.

I-485 EXITThe subject Rite Aid and Harris Teeter shopping center are easily accessible di-rectly off I-485, Charlotte’s beltline loop. Approximately 51,000 VPD pass exit 49, while another 21,500 VPD pass Rite Aid on Idlewild Road.

RENT INCREASES THROUGHOUT OPTIONSUnlike almost all Walgreens leases, the subject Rite Aid lease has rent growth throughout all four, five-year options.

CHARLOTTE NEIGHBORHOOD COMMUNITYThe neighborhood of Matthews and Stallings have always been considered sub-urban Charlotte communities. This has been long thought of as a highly desirable area for families in Mecklenburg County to live.

STRONG ROOFTOP AND POPULATION GROWTHThe immediate area has seen both strong rooftop growth and population growth since 2000. Both have increased at a rate of 65% since 2000 inside a 3-mile ra-dius. The population in three miles is forecasted to increase by 8% in the next five years.

HIGH INCOME LEVELSHousehold income levels are very strong inside of a one, three and five-mile radi-us as the range is between $90K-$100K on average.

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I N V E S T M E N T H I G H L I G H T S

D O W N T O W N M A T T H E W S

R E S I D E N T I A L$ 2 0 0 K - $ 4 0 0 K

R E S I D E N T I A L$ 2 0 0 K - $ 3 5 0 K

R E S I D E N T I A L$ 2 0 0 K - $ 4 2 5 K

R E S I D E N T I A L$ 1 5 0 K - $ 3 0 0 K

R E S I D E N T I A L$ 3 0 0 K - $ 6 0 0 K

I D L E W I L D R D

MA

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- MI N

T H

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RD

S T E V E NS M

I LL R

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R E S I D E N T I A L$ 1 7 5 K - $ 3 0 0 K

R E S I D E N T I A L$ 2 0 0 K - $ 3 5 0 K

R E S I D E N T I A L$ 1 5 0 K - $ 3 5 0 K

R E S I D E N T I A L$ 2 0 0 K - $ 4 0 0 K

R E S I D E N T I A L$ 2 5 0 K - $ 6 0 0 K

T H E D I V I D E G O L F C L U B

$ 3 0 0 K - $ 6 0 0 K

E M E R A L D L A K E G O L F C L U B

$ 3 0 0 K - $ 5 0 0 K

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O V E R H E A D A E R I A L

I - 4 8 5 - 5 1 , 0 0 0 V P D

C H A R L O T T E C B D1 5 M I L E S

R E S I D E N T I A L$ 2 0 0 K - $ 3 5 0 K

R E S I D E N T I A L$ 3 0 0 K - $ 6 0 0 K

0 . 2 2 M I T O I - 4 8 5

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R E S I D E N T I A L$ 1 5 0 K - $ 3 0 0 K

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$ 3 0 0 K - $ 5 0 0 K

W E S T A E R I A L

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R E S I D E N T I A L$ 2 0 0 K - $ 3 5 0 K

R E S I D E N T I A L$ 2 0 0 K - $ 3 5 0 K

R E S I D E N T I A LD E V E L O P M E N T

IDL EW

I L D R

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S O U T H E A S T A E R I A L

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S H O P P I N G C E N T E R S I T E P L A N

FTC NOT READY TO MOVE ON WAL-GREENS-RITE AID DEAL

MAY 16, 2017

According to reports, regulators are still seeking information on the pro-posed merger between Walgreens Boots Alliance and Rite Aid, and the subsequent divestiture of as many as 1,200 stores to Fred's. Analysts are suggesting the implication does not bode well for the merg-er, as the continued Civil Information Demands from the Federal Trade Commission may be indicative that the agency is still not appeased over the merger's potential effect on the retail pharmacy market. In fact, it could be a sign the FTC is collecting data toward a possible lawsuit aimed at blocking the deal, sources told The New York Post. The filing of CIDs “is all consistent with bringing a case,” one person close to the matter told The Post. “It tells you the FTC is still very concerned about this deal.” Both Rite Aid and Fred's stocks were trading lower on the day amid the latest merger twist, with Rite Aid trading at $3.83, down 6.8%, at midday and Fred's trading down 1.6% to $14.41. Shares of Walgreens Boots Alli-ance were also down slightly by 0.4% to $84.60.

Please click HERE to view web-based article.

www.chainstoreage.com

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T E N A N T N E W S

C H A R L O T T E , N C

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M A R K E T O V E R V I E W

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M A R K E T O V E R V I E WCHARLOTTE, NCOver 7.1 million people live within a 100-mile radius of Charlotte, with Charlotte be-ing the largest city within the region. As a result, Charlotte has become a financial, distribution, and transportation center for the entire region. Although the metro-politan area itself has a large population base and has experienced strong and diversified growth since the 1970s, it has the potential for further growth that has attracted favorable local and national attention. As Charlotte increasingly fulfills its regional role, it will continue to be one of the most attractive investment areas in the southeastern United States.

TRANSPORTATION AND INFRASTRUCTURECharlotte is served by a highly efficient state and federal highway network, includ-ing major north-south and east-west interstate arteries, and by a modern interna-tional airport terminal. Interstates 77 and 85, which intersect in Charlotte, are in-tegral to the distribution and manufacturing industries. Charlotte’s third interstate highway is I-485, a 63-mile circumferential highway that was completed in 2015.

The Charlotte Douglas International Airport is the nation’s 6th busiest airport and the 11th busiest in the world in terms of total passengers with over 38 million pas-sengers boarded annually. The Charlotte region is also the center of the nation’s largest consolidated rail system. Two major rail systems, CSX Transportation and Norfolk Southern Railway, link 44,800 miles of rail between Charlotte and 23 states east of the Mississippi River. Over 275 trucking firms located in the region provide ground transportation.

MAJOR EMPLOYERSCharlotte’s largest employers represent a variety of industry sectors, including banking and finance, healthcare, government services, retail, transportation, man-ufacturing, and telecommunications. The city is home to many corporate head-quarters, including Duke Energy, Nucor, Sonic Automotive, SPX, Family Dollar, and Goodrich. Lowe’s Home Improvement is also headquartered in the region. Char-lotte ranks fifth in the nation in the number of Fortune 500 headquartered compa-nies and is home to operations for 311 Fortune 500 companies.

BLUE LINE EXTENSIONCurrently, the Blue Line is 9.6 miles long and operates from I-485 at South Blvd to uptown Charlotte. The rail service will extend from 9th St in Center City to the UNC Charlotte campus. The line will pass through North Davidson (NoDa) and University City. The extension will provide an additional choice of mobility for the north commuters and further connect Charlotte’s economic activity centers (Cen-ter Business District and University City). The $1.2B project is expected to open service in 2017 and will bring new business and continue to attract development along its length.

REPUBLIC SERVICES TO OPEN CUSTOMER SERVICE CENTERFebruary 2016- Republic Services will open a full-service customer service center in Charlotte, creating more than 350 new jobs and investing $6.8 million over the next three years. Currently headquartered in Phoenix, Arizona, Republic Services is an industry leader in the domestic non-hazardous solid waste industry, as well as a Fortune 500 company, publicly traded on the New York Stock Exchange (NYSE: RSG). The company has leased 82,375 square feet at 10815 David Taylor Drive.

RED VENTURES TO ADD 500 NEW JOBS IN MECKLENBURG COUNTYDecember 2015- Red Ventures will expand its Mecklenburg County operations by adding 500 new jobs over the next five years. This announcement will bring the company’s employment in Charlotte to more than 1,000 workers. The additional workforce will result in a payroll impact of nearly $24.5 million annually. The com-pany will lease space in Cambridge Corporate Center at 10101 Claude Freeman Drive in the University Research Park to accommodate its growth. It will invest more than $5 million in building improvements and equipment at the new location.

COCA-COLA BOTTLING ANNOUNCES NEW CUSTOMER CARE CENTERNovember 2015- Charlotte-based Coca-Cola Bottling Company Consolidated an-nounced the opening of a new Customer Care Center on West W.T. Harris Boule-vard in north Charlotte. The facility will handle all of the company’s customer busi-ness-to-business sales and customer service calls, emails and fax inquiries. Coke Consolidated currently employs 183 people at the facility. The company expects to have a total of 300 employees at the new facility and is investing $8.1 million in the operation.

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M A R K E T O V E R V I E W

Bank of America Stadium - Home of the Carolina Panthers

BB&T Ballpark - Home of the Charlotte Knights Charlotte Motor Speedway

Spectrum Center - Home of the Charlotte Hornets

POPULATION 1-MILE % 3-MILE % 5-MILE % 2022 Projection 4,049 37,252 107,062 2017 Estimate 3,736 34,504 98,865 2010 Census 3,308 30,608 86,700 2000 Census 2,034 20,716 57,541 Growth 2017-2022 8.37% 7.96% 8.29% Growth 2010-2017 12.93% 12.73% 14.03% Growth 2000-2010 62.61% 47.75% 50.67%

2017 EST. HOUSEHOLDS BY HOUSEHOLD INCOME 1,282 12,273 36,381 Income < $15,000 74 5.80% 685 5.58% 2,007 5.52% Income $15,000 - $24,999 51 4.01% 777 6.33% 2,646 7.27% Income $25,000 - $34,999 68 5.32% 829 6.75% 2,848 7.83% Income $35,000 - $49,999 147 11.45% 1,429 11.64% 4,876 13.40% Income $50,000 - $74,999 242 18.87% 2,210 18.01% 6,884 18.92% Income $75,000 - $99,999 216 16.87% 2,001 16.31% 5,583 15.35% Income $100,000 - $124,999 191 14.87% 1,550 12.63% 4,010 11.02% Income $125,000 - $149,999 117 9.11% 977 7.96% 2,501 6.87% Income $150,000 - $199,999 91 7.09% 898 7.32% 2,596 7.14% Income $200,000 - $249,999 35 2.71% 395 3.22% 1,135 3.12% Income $250,000 - $499,999 41 3.21% 401 3.27% 1,018 2.80% Income $500,000+ 9 0.69% 121 0.99% 276 0.76%2017 EST. AVERAGE HOUSEHOLD INCOME $97,054 $96,210 $90,396

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D E M O G R A P H I C S

Berkeley Capital Advisors, LLC (“BCA”) has been authorized by the owner of the subject property (the “Seller”) to present you with this marketing package. This is a confidential package intended solely for your own limited use and benefit, as a principal, in considering whether you desire to pursue negotiations to acquire the subject property. Your receipt and acceptance of this package serves to acknowledge your agreement to: (1) hold the information and materials contained herein, and the offering they represent, in the strictest of confidence; (2) not disclose, directly or indirectly, the information and materials contained herein, or the offering they rep-resent, to any other person, firm or entity without prior written authorization from BCA or the Seller; (3) not use the information and materials contained herein in any fashion or manner detrimental to the interest of BCA or the Seller; (4) not disturb any tenants in possession of the subject property nor reveal to them the offering this package represents. This marketing package was prepared by BCA and it has been reviewed by representatives of the Seller. The information and materials contained herein are selective and limited in nature, and neither BCA nor the Seller purports this to be an all-inclusive report on the subject property. Within this package, certain leases, documents and other materials are described in summary form. These summa-ries do not purport to be complete nor necessarily accurate descriptions of the full agreements involved, nor do they purport to constitute a legal analysis of the provisions of those documents. Interested and qualified prospective purchasers will be afforded an opportunity to review additional information and to inspect the subject property, and all such prospective purchasers should conduct their own independent due diligence. This package is based in part upon information supplied by the Seller and in part upon information obtained by BCA from sources believed to be reliable. All in-come, expense and/or investment projections contained herein are provided for general reference purposes only, in that they are based on assumptions relating to the general economy, competition and other factors beyond the control of BCA and the Seller, and all such projections are therefore subject to variation. This package shall not be deemed an indication of the state of affairs of the sub-ject property, nor constitute an indication that there has been no change in the business or affairs of the subject property since the date of preparation of this package.

Neither BCA, the Seller, nor any of their respective officers, employees or agents, has made or does make any representation or warranty, expressed or implied, as to the accuracy or completeness of this package or any of its contents, and no legal commitments or obligations shall arise by reason of this package or its contents. BCA and the Seller expressly reserve the right, at their sole discretion, to alter or amend the terms of this offering, to reject any or all expressions of interest or of-fers to acquire the subject property and/or to terminate discussions with any en-

tity at any time with or without notice. The Seller shall have no legal commitment or obligation to any entity reviewing this package or making an offer to acquire the subject property unless and until a written agreement for such acquisition has been fully executed, delivered and approved by the Seller and any conditions to the Seller’s obligations thereunder have been satisfied or waived.

Parties seeking to act in a third-party brokerage capacity must register their cli-ent(s) with BCA prior to receiving or dispersing any marketing information. BCA will not recognize any third-party brokerage relationships without first receiving and approving such written client registration, nor will BCA or the Seller be ob-ligated for any brokerage claims which may result, regardless of such broker’s involvement in procuring a purchaser for the subject property. This package is the property of BCA. Photocopying, re-typing or other dupli-cation of the information and materials contained herein is expressly prohibited. The information contained within this package and the offering of the subject property may not be announced, posted or otherwise publicized in any electron-ic media (such as, by way of example only, any Internet or “broadcast facsimile” communications).

If, after reviewing this package, you have no further interest in acquiring the sub-ject property at this time, please return this package in its entirety to BCA. Like-wise, if the terms contained in this Confidentiality & Disclaimer section are not acceptable to you, please immediately return this package to BCA.

The terms and conditions stated in this Confidentiality & Disclaimer section apply and relate to all of the sections of this package as if stated independently therein.

Prospective purchasers of the subject property are hereby notified that Berkeley Capital Advisors, and its agents, are acting in the capacity of a “Seller’s Agent” during the course of this offering, and as such are solely representing the inter-ests of the Seller.

DESCRIPTION OF AGENT DUTIES AND RELATIONSHIPSBefore you begin working with any real estate agent, you should know who the agent represents in the transaction. Every listing agreement, buyer agen-cy agreement or other agreement for brokerage services in a real estate sales transaction in North Carolina must contain this “Description of Agent Duties and Relationships” [N.C. Real Estate Commission Rule 21 NCAC 58A.0104(c), eff. 7/1/95]. Real estate agents should carefully review this information with you prior to entering into any agency agreement.

AGENT’S DUTIESWhen you contract with a real estate firm to act as your agent in a real estate transaction, the agent must help you obtain the best price and terms possible, whether you are the buyer or seller.

The agent also owes you the duty to: • Safeguard and account for any money handled for you • Act with reasonable skill, care and diligence • Be loyal and follow reasonable and lawful instructions • Disclose to you any information which might influence your decision to buy or sell

Even if the agent does not represent you, the agent must still be fair and hon-est and disclose to you all “material facts” which the agent knows or reasonably should know. A fact is “material” if it relates to defects or other conditions affect-ing the property, or if it may influence your decision to buy or sell. This does not require a seller’s agent to disclose to the buyer the minimum amount the seller will accept, nor does it require a buyer’s agent to disclose to the seller the maxi-mum price the buyer will pay.

AGENTS WORKING WITH SELLERSA seller can enter into a “listing agreement” with a real estate firm authorizing the firm and its agent(s) to represent the seller in finding a buyer for his property. The listing agreement should state what the seller will pay the listing firm for its ser-vices, and it may require the seller to pay the firm no matter who finds the buyer.

The listing firm may belong to a listing service to expose the seller’s property to other agents who are members of the service. Some of those agents may be working with buyers as buyers’ agents; others will be working with buyers but still representing the sellers’ interests as an agent or “subagent”. When the buyer’s agents and seller’s subagents desire to share in the commission the seller pays to the listing firm, the listing agent may share the commission with the seller’s permission.

AGENTS WORKING WITH BUYERSA buyer may contract with an agent or firm to represent him (as a buyer’s agent), or may work with an agent or firm that represents the seller (as a seller’s agent or subagent). All parties in the transaction should find out at the beginning who the agent working with the buyer represents.

If a buyer wants a buyer’s agent to represent him in purchasing a property, the buyer should enter into a “buyer agency agreement” with the agent. The buy-er agency agreement should state how the buyer’s agent will be paid. Unless some other arrangement is made which is satisfactory to the parties, the buyer’s agent will be paid by the buyer. Many buyer agency agreements will also obli-gate the buyer to pay the buyer’s agent no matter who finds the property that the buyer purchases.

A buyer may decide to work with a firm that is acting as agent for the seller (a seller’s agent or subagent). If a buyer does not enter into a buyer agency agree-ment with the firm that shows him properties, that firm and its agents will show the buyer properties as an agent or subagent working on the seller’s behalf. Such a firm represents the seller (not the buyer) and must disclose that fact to the buyer.

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C O N F I D E N T I A L I T Y

A S H E V I L L E138 Charlotte Street, Suite 220Asheville, North Carolina 28801

704.714.2365

C H A R L O T T E1228 East Morehead Street, Suite 200

Charlotte, North Carolina 28204704.379.1980

N A S H V I L L E1510 16th Avenue, Suite 300Nashville, Tennessee 32712

615.970.6596

B E R K E L E Y C A P. C O M