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OFFERING MEMORANDUM ROME CENTER MULTI-TENANT RETAIL CENTER | ROME, GA | 8% CAP RATE

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Page 1: Offering Memorandum- Public - Edits Here · 2020-07-08 · 452,000 SF combined, with a combined occupancy rate of ± 97% • Excellent visibility and access from 3 curb cuts including

OFFERING MEMORANDUMROME CENTER

MULTI-TENANT RETAIL CENTER | ROME, GA | 8% CAP RATE

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3PROPERTY INFORMATION4EXECUTIVE SUMMARY

6PROPERTY INFORMATION

7PROPERTY DESCRIPTION

8PHOTOS

10TENANT PROFILES

12FLOOR PLANS

13SURVEY

14AREA OVERVIEW15REGIONAL MAP

16AREA MAP

17ABOUT THE AREA

19MAJOR EMPLOYERS

20OPPORTUNITY ZONE

21FINANCIALS22RENT ROLL & VALUATION

23NET OPERATING INCOME

24SALE COMPS

25RENT COMPS

26CONTACT INFORMATION27BROKER PROFILE

28CONFIDENTIALITY AGREEMENT

29DISCLAIMER

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

Bull RBull Realtyealty, Inc., Inc.50 Glenlak50 Glenlake Pe Parkwarkwaayy, Suit, Suite 600e 600AAtlantlantta, GA 30328a, GA 30328BullRBullRealtyealty.c.comom

Will YWill YoungoungPrPresidenesident, The Rt, The Reettail Grail GroupoupWYWYoung@[email protected] x141404-876-1640 x141

Exclusively listed by Bull Realty, Inc.

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P RP R O P E RO P E R T Y I N FT Y I N F O R M AO R M AT I O NT I O N

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KEY NOKEY NOTETESS

Stable Asset with Upside Potential

Within 1 mile of 10 Shopping Centers with±452,000 SF Combined

High Traffic Counts of ± 30,000 VPD

Stable, Long-Term NNN Tenants

Low Operating Expenses

M U LM U LT I - T E N A N T R E TT I - T E N A N T R E TA I L I N V EA I L I N V ESST M E N T O P P O RT M E N T O P P O RT U N I T YT U N I T YBull Realty is proud to offer this multi-tenant retail investment property located in the heart of Rome,Georgia. This is a historically stable asset with significant upside potential for investors to increase returnsby increasing rental rates to market as leases come up for renew. This property available for sale for$3,825,000 and is being delivered to market at a 8% cap rate.

Built in 2007, this 100% occupied retail center has a diverse mixture of retail tenants including FirehouseSub's, Jandy's, Republic Finance, Blue Fin and O'Charley's. The tenant mixture has been historically stableand most of the tenants have been at this location for 5 years or more. Except for Blue Fin, the remaining79% of the tenants pay rent and expenses (taxes, Insurance & CAM) on a NNN basis. Blue Fin, pays for theirown utilities in addition to base rent. The tenants and landlord benefit from the center havingcomparatively low operating expenses are projected to total $3.11 SF in 2020. The property is also locatedwithin a Qualified Opportunity Zone which provides tax benefits for the owner and tenants.

G R EG R EAAT & ST & STTA B L E T E N A N T M I XA B L E T E N A N T M I X

E X E C U T I V E S U M M A R Y

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U P S I D E P OU P S I D E P OT E N T I A L A N D LT E N T I A L A N D LOOW O P E R AW O P E R AT I N G E X P E N S ET I N G E X P E N S ESS• Available for sale at a 8% cap rate

• 100% occupied retail center has diverse tenant mixture

• Upside potential available from investors ability to increase currently belowmarket rents as leases renew

• Low operating expenses which are mostly reimbursed by the tenants

E XE XC E L L E N T V I S I B I L I T Y I N A P R I M E R E TC E L L E N T V I S I B I L I T Y I N A P R I M E R E TA I L LA I L LO C AO C AT I O NT I O N• Located in the heart of the city on its main through-fare with traffic counts

averaging ± 30,000 vehicles per day

• Centrally positioned within one mile of 10 shopping centers with over of452,000 SF combined, with a combined occupancy rate of ± 97%

• Excellent visibility and access from 3 curb cuts including 2 along the over 350'of frontage along Turner McCall Boulevard (US Highway 27)

• National neighboring credit tenants within the trade area include Publix,Kroger, Home Depot, TJ Maxx, Marshalls, Ross, Barnes & Noble, Pier 1 Imports,AT&T, CVS, Walgreens, Chick-Fil-A, Olive Garden and more.

N EN EA R A R EA R A R EA D E M A N D D R I V E RA D E M A N D D R I V E RSS• Only blocks away from Rome’s Historic Downtown Business District and Floyd

Medical Center

• Within 5 miles of both Berry College and Shorter University - combinedenrollment exceeds 5,500 students

Price | $3,825,000 15,000 SF

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

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BUILDINGBUILDING

Property Address: 707-737 Turner McCall Boulevard, Rome, GA 30165County: FloydCenter Name: Rome CenterBuilding Class: ABuilding Size: 15,000 SFYear Built: 2007Number of Units: 5Anchor Tenant: O'Charley'sSignage: Pylon Signage

SITESITE

Site Size: 2.4 AcresZoning: C-C (Community Commercial)Parcel ID: J13Y-479A1Parking Spaces: 117Parking Ratio: 7.8/1,000 SF

FINANCIALFINANCIAL

Occupancy: 100%NOI: $302,741Cap Rate: 8%Sale Price: $3,825,000

AREAREAA

Traffic Count: ± 30,000 VPD on Turner McCall BoulevardFrontage: 350' on Turner McCall BoulevardIngress/Egress Points: 3 on Turner McCall Blvd, 3 on Avenue ADedicated Turn Lane: NoSignalized Intersection: YesCross Streets: Avenue ANeighboring Properties: Publix, Kroger, The Home Depot, TJ Maxx, Marshalls

Ross, Barnes & Noble, Pier 1 Imports, AT&T, CVS,Walgreens

Chick-Fil-A, Olive Garden and moreQualified Opportunity Zone: Yes

P R O P E R T Y I N F O R M A T I O N

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T R A F F I C CT R A F F I C CO U N TO U N TSSRome Center is along one of the densest retailcorridors in Rome, GA on its main trough-fare withtraffic counts averaging ± 30,000 vehicles per day.

The center is centrally positioned within one mile of10 shopping centers with over of 452,000 SFcombined, which have a combined occupancy rate of± 97%

B U I L D I N GB U I L D I N GRome Center was built in 2007 and consists of 2buildings; a retail center with 4 tenants and afreestanding O'Charley's restaurant.

The site includes ±15,000 SF of net leasable area. Theconstruction is made of a combination brick andstucco. A monument sign is in place with excellentvisibility on Turner McCall Boulevard.

LLO C AO C AT I O NT I O NRome Center is located along Turner McCallBoulevard, directly in the heart of Rome, Georgia.

The property is located blocks away from Rome’sHistoric Downtown Business District and FloydMedical Center. It is also within 5 miles of both BerryCollege and Shorter University - combinedenrollment exceeds 5,500 students.

S I T E & ZS I T E & ZO N I N GO N I N GThis 2.4-acre site (Floyd County Parcel #J13Y-479A1) isat road grade and is considered generally level.

The subject site is currently zoned C-C, which allowsfor a variety of retail uses.

The center is also located in a Qualified OpportunityZone which allows for potential tax incentivesexplained on page 20 of this document.

O C C U PO C C U PA N C YA N C YThe 5 units in the center are currently 100%occupied and no units are available for lease.

The retail center has a diverse mixture of retailtenants including Firehouse Sub's, Jandy's, RepublicFinance, Blue Fin and O'Charley's. The tenant mixturehas been historically stable and most of the tenantshave been at this location for 5 years or more.

F RF RO N TO N TAAG E , AG E , AC C EC C ES S & PS S & PA R K I N GA R K I N GExcellent visibility and access from 3 curb cutsincluding 2 along the over 350' of frontage alongTurner McCall Boulevard (U.S. Highway-27)

The property has 117 surface parking spaces with aratio of 7.8/1,000 SF. There is plenty of parkingavailable to accommodate customers for allbusinesses in the center.

P R O P E R T Y D E S C R I P T I O N

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O ' C H A R L E Y ' S P H O T O S

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A D D I T I O N A L T E N A N T P H O T O S

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

Actual Site

In 1971, Charley Watkins opened the original O’Charley’s restaurant across fromVanderbilt University in Nashville, Tennessee. With a menu made up of a handful of hiswife’s popular recipes and the belief that “Everyone who walks through this door is afriend of mine,” Charley had the ingredients to create something special. This was thefoundation upon which our restaurants were built. O’Charley’s currently has over 200locations in 17 states, serving classic American food with a Southern accent.

Source: https://OCharleys.com

SF OCCUPIEDSF OCCUPIED 7,000 SF

LELEASE END DASE END DAATETE 2/15/2021

ANNUANNUAL EAL ESCALASCALATIONSTIONS 2% in Initial and 10% perrenewal

RENEWRENEWAL OPAL OPTIONSTIONS Three 5-Year

BBASE RENTASE RENT $162,000 Annual

BBASE RENTASE RENT/SF/SF $25.03

LANDLLANDLORD REORD RESPONSIBILITIESPONSIBILITIESS None

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

Jandy's offers self-serve sweet and creamy frozenyogurt in nonfat, lowfat and also with no sugaradded. Choose from a variety of flavors that are sureto satisfy any child or adult. Currently located inRome, GA.

Source: https://JandysFroyo.com

JJANDANDY'S FRY'S FROOZEN YZEN YOGUROGURTTOccupies: 2,000 SF

Founded in 1952, Republic Finance specializes inproviding a variety of consumer loans, flexiblelending options and incomparable customer service,and has assisted its customers in meeting theirpersonal finance goals for more than 60 years. Withbranch offices located within Alabama, Georgia,Kentucky, Louisiana, Mississippi, South Carolina,Tennessee, and Texas, Republic Finance is proud toserve nearly 300,000 customers in almost 200communities throughout the United States.

Source: https://RepublicFinance.comREPUBLIC FINANCEREPUBLIC FINANCEOccupies: 1,000 SF

Firehouse Subs is a U.S.-based, fast casual restaurantchain founded in 1994 in Jacksonville, Florida byformer firefighter brothers Robin and Chris Sorensen.Firehouse Subs has opened over 1,170 restaurants in45 states as well as Puerto Rico and Ontario, Canada

Source: https://FirehouseSubs.com

FIREHOUSE SUBSFIREHOUSE SUBSOccupies: 1,800 SF

Relaxed outpost for creative sushi & Pan-Asianfavorites, including teriyaki & hibachi-style dishes.They serve the local community with thehighest-quality dining experience and offer a taste ofthe exotic.

Source: https://BlueFinRome.com

BLBLUE FIN SUSHIUE FIN SUSHIOccupies: 3,200 SF

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O'Charley's Floor Plan

(Not to Scale)

Rome Center Floor Plan

(Not to Scale)

F L O O R P L A N S

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S U R V E Y

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A R EA R E A OA O V E RV E R V I E WV I E W

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R E G I O N A L M A P

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A R E A M A P

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A B O U T T H E A R E A

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H O M E TH O M E TO WO WO R L D - C L A S S E D U C AO R L D - C L A S S E D U C AT I O NT I O NRome is the largest city in Floyd County, Georgia and is the second largest city, after Gadsden, Alabama,near the center of the triangular area defined by the Interstate highways between Atlanta, Birmingham andChattanooga. It has developed as a regional center in such areas as medical care and education. Inaddition to its public school system, there are several private schools. Higher-level institutions includeprivate Berry College and Shorter University, and the public Georgia Northwestern Technical College andGeorgia Highlands College.

I N T H E FI N T H E FO OO OT H I L L S O F T H E A P PT H I L L S O F T H E A P PA L AA L AC H I A N M O U N TC H I A N M O U N TA I N SA I N SLocated in the foothills of the Appalachian Mountains, it is the principal city of the Rome, Georgia,Metropolitan Statistical Area, which encompasses all of Floyd County.

Throughout the decades, this classic city has grown in sophistication to become a unique portrait ofsouthern heritage and hospitality. Rome has a strong arts community, a passion for history and a respectfor the three gentle rivers winding through the heart of the city. Most entertainment and leisure activity isconnected to water and mountain areas nearby, although there are minor league sports and a few otheramenities in town.

A city of seven hills like its Italian namesake, Rome has roots in agriculture, textile and carpet milling.There are some typical homes and landmarks of the 19th century South, and Rome won a National Trust forHistoric Preservation Great American Main Street award for revamping its historic core.

DEMOGRAPHICS

1 Mile1 Mile 3,9683,968

3 Miles 31,985

5 Miles 58,434POPULATION

1 Mile1 Mile 1,7801,780

3 Miles 11,338

5 Miles 21,498HOUSEHOLDS

1 Mile1 Mile $41,898$41,898

3 Miles $52,949

5 Miles $61,702AVG. HH INCOME

AREA HIGHLIGHTS• Berry College, Shorter University,

Georgia Highlands College andGeorgia Northwestern TechnicalCollege offer world-class education

• Expected population growth of 0.3%

• Median HH Income expected growthrate of 2.46%

R O M E , G A

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M A J O R E M P L O Y E R S

RROME MAOME MAJOR EMPLJOR EMPLOOYERYERSS

# Company Product/Service # Employees1 Floyd Medical Center Healthcare 2,5002 Redmond Medical Center Healthcare 1,5303 Lowe's Regional Distribution Center Distribution 8204 Harbin Clinic Healthcare 7925 Berry College Education 5626 Kellogg's Food Production 5527 F&P Georgia Automotive Manufacturing 5188 International Paper Company Lumber Mill 4519 Neaton Rome Automotive Manufacturing 42710 Syntec Industries Textile Manufacturing 350

A R EA R EA OA OV E RV E RV I E WV I E WRome received its namesake from Rome, Italy. Its north Georgia sister was alsofounded on seven hills and the convergence of three rivers: the Coosa,Oostanaula and Etowah rivers. This led Rome to be the major transportation huband economic power center of northwest Georgia, northeast Alabama andsoutheast Tennessee. Centrally located between Atlanta, Birmingham andChattanooga, it is a connecting point for I-75, US-27, GA-53, and GA-20 andconsidered to be the economic engine and "Capitol of Northwest Georgia".Atlanta is 79 miles southeast of the City, Birmingham 117 miles southwest andChattanooga is 75 miles north.

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O P P O RO P P O RT U N I T Y ZT U N I T Y ZO N E OO N E OV E RV E RV I E WV I E WQualified Opportunity Zone (QOZ) Investment: A QOZ investment allows for thereduction of deferred gains from the sale or exchange of prior investments. QOZinvestments maintained for at least five years by the end of 2026 will qualify fora 10% reduction of deferred capital gains tax liability (for the original capitalgain). If the gain has been invested in an opportunity fund for seven years by theend of 2026, the tax liability on the original gain is reduced by 15%.

B E N E F I TB E N E F I TS TS TO T E N A N TO T E N A N TSSInvestors in Qualified Opportunity Funds can achieve significant tax benefits forequity investments, including tax deferral and permanent tax reduction. Toremain certified as a Qualified Opportunity Fund, the Fund must hold at least90% of its assets in Qualified Opportunity Zone property. Such property includescertain stock or partnership interests of the underlying business, and/orbusiness property (personal and/or real property) of a Qualified OpportunityZone business.

L EL EA R N M O R E H E R EA R N M O R E H E R E• Qualified Opportunity Funds

• U.S. Department of the Treasury Releases Proposed Regulations on OpportunityZones

• U.S. Department of the Treasury: (CDFI) Opportunity Zones Resources

• IRS Revenue Procedure - PDF

• Tax Cuts and Jobs Act - PDF

• Enterprise Community (Choosing Opportunity Zones)

• Economic Innovation Group (Unlocking Private Capital)

• Commercial Real Estate Show - Opportunity Zones Overview

• CohnReznick Tax Advisory

*Disclaimer: Consult tax adviser as it relates to benefits.

O P P O R T U N I T Y Z O N E

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F I N A N C I A L SF I N A N C I A L S

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ONLINE AONLINE ATT WWWWWW.BULLRE.BULLREALALTYTY..CCOMOM

PLEPLEASE SIGN CASE SIGN CONFIDENTIALITY AONFIDENTIALITY AGREEMENTGREEMENTLLOCAOCATED ON PTED ON PAAGE 28 OF THIS DOCUMENTGE 28 OF THIS DOCUMENT

OROR

R E N T R O L L & V A L U A T I O N

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ONLINE AONLINE ATT WWWWWW.BULLRE.BULLREALALTYTY..CCOMOM

PLEPLEASE SIGN CASE SIGN CONFIDENTIALITY AONFIDENTIALITY AGREEMENTGREEMENTLLOCAOCATED ON PTED ON PAAGE 28 OF THIS DOCUMENTGE 28 OF THIS DOCUMENT

OROR

N E T O P E R A T I N G I N C O M E

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SUBJESUBJECCT PRT PROPEROPERTYTYAddrAddressess CityCity Asking PriceAsking Price YYear Builtear Built Building SizBuilding Sizee No. Of Units:No. Of Units: Cap RaCap Rattee Price/SFPrice/SF SitSite Size Sizee Sold DaSold Dattee

707-737 T707-737 Turner McCall Bouleurner McCall Boulevvarardd Rome $3,825,000 2007 15,000 SF 5 8.0 % $255.00 2.4 AC -

SSALEALES CS COMPSOMPSAddrAddressess CityCity Sale PriceSale Price YYear Builtear Built Building SizBuilding Sizee No. Of Units:No. Of Units: Cap RaCap Rattee Price PSFPrice PSF SitSite Size Sizee Sold DaSold Dattee

11 3280 Keith Bridge Road Cumming $2,360,000 2007 8,340 SF 7 - $282.97 1.4 AC 02/04/2020

22 745 Chastain Road NW Kennesaw $2,900,000 2007 8,225 SF 5 7.32 % $352.58 1.2 AC 06/21/2019

33 9745 Highway 92 Woodstock $45,971,465 2003 14,918 SF 6 6.9 % $3,081.61 1.09 AC 04/09/2019

44 3961 Floyd Road Austell $3,000,000 2006 9,000 SF 19 7.7 % $333.33 1.25 AC 12/20/2018

55 3333 Trickum Road Woodstock $1,894,000 2007 9,048 SF - 7.05 % $209.33 1.31 AC 08/13/2018

Subject Property

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S A L E C O M P S

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RENT CRENT COMPSOMPSAddrAddressess CityCity TTenanenantt RRenent/SFt/SF/Y/Yearear Lease TLease Typeype Space SizSpace Sizee DaDatte Signede Signed StStart Daart Dattee

11 471-491 Turner McCall Blvd NE Rome Lendmark $25.69 SF/yr - 1,400 SF 9/1/2019 10/1/2019

22 138-240 S Tennessee Street Cartersville Mango's Ice Cream $24.00 SF/yr NNN 1,400 SF - 06/1/2019

33 435 Turner McCall Blvd NE Rome - $24.00 SF/yr MG 1,400 SF 3/1/2019 4/1/2019

44 125 E Main Street Cartersville Tropical Smoothie Cafe $35.00 SF/yr - 1,640 SF 8/1/2017 9/1/2019

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R E N T C O M P S

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CC O N TO N TAA CC T I N FT I N F O R M AO R M AT I O NT I O N

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Bull Realty is a commercial real estate sales, leasing, and advisory firm headquartered in Atlanta licensed in nine Southeast states.The firm was founded in 1998 on two primary missions: to provide a company of advisors known for integrity and to provide the bestdisposition marketing in the nation. Still guided by these philosophies, the firm's services have expanded to include disposition,acquisition, project leasing, tenant representation and consulting services. To add additional value and efficiency for clients, advisorsfocus on specific sectors and services in the office, retail, industrial, multifamily, land, healthcare, senior housing, self-storage,automotive, hospitality and single tenant net lease sectors.

The firm produces America's Commercial Real Estate Show, a national video show and podcast enjoyed by millions of people aroundthe country. Industry analysts, leading market participants and the firm's founder Michael Bull share market intelligence, forecastsand success strategies. The show has aired every week since 2010 on Apple Podcast, all major podcast sites, YouTube andwww.CREshow.com.

P RP RO F EO F ES S I O N A L BS S I O N A L BAAC KC KG RG RO U N DO U N DWill Young delivers over 14 years of commercial real estate sales and valuation experience. While he is experienced in various typesof commercial properties, his primary brokerage focus is in retail investment acquisitions and dispositions throughout the Southeast.

The Rome, Georgia native graduated with a Bachelor of Business Administration in Real Estate from the University of Mississippi.Prior to working in commercial real estate sales, Mr. Young gained experience in Atlanta as a commercial real estate appraiser atGrubb & Ellis Landauer and G. Randall Hammond & Company.

Will joined Bull Realty in 2016 and began building his brokerage practice based on integrity, superior client service, and exceptionalresults. Licensed as an appraiser and broker by the State of Georgia, Will has extensive knowledge of retail trends throughout theSoutheast and focuses especially on emerging markets and metro Atlanta’s multi-tenant retail real estate market. He continuesenhance his value proposition for his clients by leveraging on the proven marketing platform and systems delivered by Bull Realty.

Will is a member of the Atlanta Commercial Board of Realtors (ACBR), Young Council of Realtors (YCR), a candidate member of theCertified Commercial Investment Member Institute (CCIM), a ACBR Million Dollar Club Member, and is a member of the InternationalCouncil of Shopping Centers (ICSC).

W I L L YW I L L YO U N GO U N GPrPresidenesident, The Rt, The Reettail Grail Groupoup

Bull Realty Inc.50 Glenlake Parkway, Suite 600Atlanta, GA 30328404-876-1640 [email protected]

B R O K E R P R O F I L E

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Will Young404-876-1640 [email protected]

Bull Realty, Inc.50 Glenlake Parkway, Suite 600Atlanta, GA 30328

This Confidentiality Agreement (“Agreement”) is made and agreed to for the benefit of the undersignedparty (“Receiving Party”), the owner of the subject property (the “Seller”) and undersigned broker BullRealty Incorporated (“Broker”). Now therefore in consideration of the privileges granted to Receiving Partywith respect to receiving certain confidential information, and other good and valuable consideration, theReceiving Party hereby agrees to the following:

I. Confidential Information:Receiving Party will receive confidential information regarding property referred to as 707-737707-737 TTurnerurnerMcCallMcCall BouleBoulevvarardd RRome,ome, GAGA 3016530165. Prospect agrees to not disclose to any person that the property may beavailable for sale or lease, or that discussions or negotiations are taking place concerning the property, norany terms, conditions, or other facts with respect to the property, including but not limited to tenantinformation, lease rates, lease expirations, income and expenses, and any such possible purchase, includingthe status thereof. The term “person” used in this agreement shall be interpreted broadly and shall include,without limitation, any corporation, company, partnership or individual other than parties to which Brokerapproves in writing. Receiving Party may share information with directors, officers, employees, agents,affiliates, counsel, lending sources, accountants or representatives of Receiving Party that Receiving Partynotifies of the requirements of this Agreement. Receiving Party agrees to not contact the property owner,the management, the tenants, the lender, the vendors, the insurers, the employees or the customers of anybusiness at the site.

II. Acting as a Principal:Receiving Party hereby warrants that it is acting as a principal only, and not as a broker, regarding thiscontemplated transaction. Receiving Party acknowledges that Broker is working an agency capacity asrepresenting the Seller only in this transaction and is the only Broker involved in this potential transaction.Receiving Party agrees to not be involved in any arrangement to lease or purchase the property, in whole orin part, as a lender, partner, buyer of the note, buy in foreclosure, buy from bankruptcy court, or in anyother manner acquire an investment in, joint venture or control of the property, unless Bull Realty,Incorporated is paid a commission at closing as per separate agreement with Seller.

This agreement will expire two years from the date hereof.

III. Governing LawThis Agreement shall be governed and construed in accordance with the laws of the State of Georgia.

If you are a broker, or a principal desiring to include an outside broker, contact the listing agent directly for aBuyer and Buyer’s Broker Confidentiality & Commission Agreement.

Accepted and agreed to __ / __ / __

Receiving Party

Signature

Printed Name

Title

Company Name

Address

Email

Phone

Fax

SIGN CONFIDENTIALITYAGREEMENT ONLINE

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C O N F I D E N T I A L I T Y A G R E E M E N T

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D I S C L A I M E R

Bull Realty has been retained as the exclusive listing broker to arrange the sale of the Subject Property.

This Offering Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of theinformation that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based uponassumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospectivepurchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made available toqualified prospective purchasers.

In this Offering Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete oraccurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected toreview independently all documents.

This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute arecommendation, endorsement, suitability or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospectivepurchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.

Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions withany party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this OfferingMemorandum or making an offer on the Property unless a written agreement for the purchase of the Property has been fully executed, delivered andapproved by the Owner/Seller and any conditions to the purchaser's obligations therein have been satisfied or waived. The Owner/Seller reserves theright to move forward with an acceptable offer prior to the call for offers deadline.

This Offering Memorandum may be used only by parties approved by the Broker. The Property is privately offered, and by accepting this OfferingMemorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of aconfidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwisereproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. The terms and conditions set forth above apply to thisOffering Memorandum in its entirety and all documents, disks and other information provided in connection therewith.

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2020 Bull Realty, Inc. All rights reserved. Information contained herein may have been provided by the seller, landlord or other outside sources. While deemedreliable, it may be estimated, projected, limited in scope and is subject to change or inaccuracies. Pertinent information should be independently confirmed prior to

lease or purchase offer or within an applicable due diligence period.

Please do not visit site without an appointment.Please do not disturb management or tenants.

WILL YOUNGPresident, The Retail Group

[email protected] x141

TO SCHEDULE A PROPERTY VISIT OR TO REVIEW THE FINANCIALS CONTACT: