Tractor Supply Company690 Academy Drive | Bessemer (Birmingham), AL 35022

Representative Photo Offering Memorandum

Confidential Disclaimer

Stan Johnson Company6120 South Yale Avenue | Suite 300Tulsa, Oklahoma 74136 P: 918.494.2690

stanjohnsonco.com

Gill Warner, CCIM Senior Directorgwarner@stanjohnsonco.com P: +1 918.794.9512

Sharon JordanSenior Analystsharon@stanjohnsonco.com P: +1 918.794.9513

In association withRyan ButlerAL Lic. #000101183

Offered Exclusively byThis Confidential Offering Memorandum (“COM”) is provided by Stan Johnson Company (“SJC”), solely for your consideration of the opportunity to acquire the commercial property described herein (the “Property”). This COM may be used only as stated herein and shall not be used for any other purpose, or in any other manner, without prior written authorization and consent of SJC.

This COM does not constitute or pertain to an offer of a security or an offer of any investment contract. This COM contains descriptive materials, financial information and other data compiled by SJC for the convenience of parties who may be interested in the Property. Such information is not all inclusive and is not represented to include all information that may be material to an evaluation of the acquisition opportunity presented. SJC has not independently verified any of the information contained herein and makes no representations or warranties of any kind concerning the accuracy or completeness thereof. All summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial statements, which upon request may be made available. An interested party must conduct its own independent investigation and verification of any information the party deems material to consideration of the opportunity, or otherwise appropriate, without reliance upon SJC.

The Property may be financed or withdrawn from the market without notice, and its owner(s) reserve(s) the right to negotiate with any number of interested parties at any time. The Property is offered and sold by its owner(s) as is, where is, and with all faults, without representation or warranty of any kind except for any customary warranties of title.

BY ACCEPTING THIS COM, YOU AGREE THAT: (1) all information contained herein, and all other information you have received or may hereafter receive from SJC relating to the Property, whether oral, written or in any other form (collectively, the “Information”), is strictly confidential; (2) you will not copy or reproduce, and claim as your own without attribution to SJC, all or any part of this COM or the Information; (3) upon request by SJC at any time, you will return and/or certify your complete destruction of all copies of this COM and the Information; (4) for yourself and all your affiliates, officers, employees, representatives, agents and principals, you hereby release and agree to indemnify and hold harmless SJC all of its affiliates, officers, employees, representatives, agents and principals, from and with respect to any and all claims and liabilities arising from or related to the receipt or use of this COM and/or any other Information concerning the Property; (5) you will not provide this COM or any of the Information to any other party unless you first obtain such party’s acceptance and approval of all terms, conditions, limitations and agreements set forth herein, as being applicable to such party as well as to you; and (6) monetary damages alone will not be an adequate remedy for a violation of these terms and that SJC shall be entitled to equitable relief, including, but not limited to, injunctive relief and specific performance, in connection with such a violation and shall not be required to post a bond when obtaining such relief.

Tractor Supply Company • Bessemer, AL 3

The OfferingStan Johnson Company is pleased to offer for sale to qualified investors

the opportunity to acquire a fee simple interest in the land and building

of a new Tractor Supply Company-leased building located in Bessemer

(Birmingham), AL. The Subject Property consists of approximately 3.78

acres and a 19,097 square foot building that was built in 2013. Tractor

Supply Company is operating under a NN fifteen (15) year lease with

approximately 11-1/4 years remaining. The Subject Property features ten

percent (10%) rent increases every 5 years during the lease term and each

of the four (4), five (5) year renewal options.

The Subject Property is located on Academy Drive just off Interstate 20

in Bessemer and in a large retail hub that includes several major tenants

including Walmart Supercenter, Aldi, Hibbett Sports, Dollar Tree, Big Lots,

McDonald’s, Sonic Drive-In, Burger King, Ruby Tuesday, Wendy’s, Zaxby’s

and also several automobile dealerships. Average household income within

a 5-mile radius of the property is $69,617.

Tractor Supply Company (NASDAQ: TSCO) operates rural lifestyle retail

stores in the United States. The company operates over 1,600 retail stores

in 49 states and is headquartered in Brentwood, TN. The company focuses

on supplying the lifestyle needs of recreational farmers and ranchers. The

company also serves the maintenance needs of those who enjoy the rural

lifestyle, as well as tradesmen and small businesses. As of December 31,

2016, Tractor Supply Company has total revenues in excess of $6.77 billion,

net income in excess of $437 million; and a net worth in excess of $1.45

billion.

Investment Highlights100% Leased and Guaranteed by Tractor Supply Company (NASDAQ: TSCO)

Desirable Long-Term Lease – The fifteen (15) year lease term commenced

in September of 2013 and has approximately 11.25 years remaining of

primary lease term.

Attractive Rental Increases - The Subject Property lease provides for 10%

rental increases every five (5) years and in each of the four (4), five (5) year

renewal option periods.

Highly Passive NN Lease Structure – Highly passive lease structure with

landlord responsibility limited to roof, structure, and parking.

Built-to-Suit Construction – The Subject Property was built specifically for

Tractor Supply Company, and is institutional quality construction.

Good Market Location – The Subject Property enjoys a strong location

on Academy Drive, a major retail corridor, and just off of Interstate 20 in

Bessemer with an average household income within a 5-mile radius of

$69,617.

Purchase Price: $3,524,590Cap Rate: Contact Broker

Tractor Supply Company • Bessemer, AL 4

Tenant OverviewTractor Supply Company (NASDAQ: TSCO) is the largest operator of retail farm and ranch stores in

the United States. Its stores provide a selection of merchandise, including equine, livestock, pet, and

animal products (43% of sales); hardware, truck, towing, and tool products (23% of sales); seasonal

products comprising lawn and garden items (20% of sales); power equipment; maintenance products

for agricultural and rural use (5% of sales); and work/recreational clothing and footwear products (9%

of sales). The company was founded in 1938 and is based in Brentwood, Tennessee.

The company operates over 1,600 retail stores in 49 states and employs more than 24,000 team

members. The company focuses on supplying the lifestyle needs of recreational farmers and ranchers.

The company also serves the maintenance needs of those who enjoy the rural lifestyle, as well as

tradesmen and small businesses. Tractor Supply stores are primarily located in rural areas and the

outlying suburbs of major cities. The typical Tractor Supply store has 15,000-24,000 square feet

of inside selling space with a similar amount of outside space used to display agricultural fencing,

livestock equipment and horse stalls.

As of December 31, 2016, Tractor Supply Company had total revenues in excess of $6.77 billion, net

income in excess of $437 million; and, as of April 4, 2017, a net worth in excess of $1.45 billion.

Tenant Profile

Parent Company: Tractor Supply Co.

Stock Symbol: TSCO

Exchange: NASDAQ

Total Revenue:as of 12/31/2016

$6.77 billion

Net Income:as of 12/31/2016

$437 million

Net Worth:as of 4/4/2017

$1.45 billion

Market Capitalization:as of 4/5/2017

$9.10 billion

Tenant Business: Retail

Founded: 1938

Headquarters: Brentwood, Tennessee

Website: www.tractorsupply.com

Subject Property Photos

Tractor Supply Company • Bessemer, AL 5

Lease Abstract

Tenant: Tractor Supply Company

Trade Name: Tractor Supply

Interest: Fee Simple

Address: 690 Academy Drive

City, State, Zip: Bessemer (Birmingham), AL 35022

SF Leased: +/- 19,097 SF

Land Area: +/- 3.78 Acres

Year Built: 2013

Permitted Use: Retail

Initial Term: Fifteen (15) Years

Rent Commencement: September 14, 2013

Current Expiration: September 13, 2028

Options: Four (4), Five (5) Year Options

Increases: 10% Every 5 Years in Lease & Options

Expenses:

NN Lease - Landlord is responsible for roof, structure, parking lot and liability insurance. Tenant is responsible for taxes, liability and property insurance, CAM and HVAC except for last 2 years of lease term.

ROFR: Yes; fifteen (15) days N

Location OverviewFounded in 1887, Bessemer is located in southwestern Jefferson County.

With about 27,000 residents Bessemer is a city with a rich history and great

prospects for the future.

Once a major producer of iron ore and limestone, Bessemer is now focused

on diversifying its economy through industrial growth. Amsted Rail and

U.S. Pipe have recently located industrial facilities in Bessemer, and in 2011,

Dollar General broke ground on their 10th distribution facility there.

Alabama’s largest metro area, the Birmingham-Hoover Metropolitan Area is

comprised of seven counties, which are located in the north central portion

of Alabama, in the foothills of the Appalachian Mountains. The Birmingham-

Hoover Metropolitan Area contains approximately 108 minor cities and

consists of a total of 5,332 square miles. The dominant urban area is the

city of Birmingham, which covers 151 square miles and is located primarily

in Jefferson County. Jefferson County is the largest county in the seven

county area encompassing 1,141 square miles. The metro area is located 147

miles west of Atlanta, GA Metropolitan Area, 195 miles south of Nashville,

Tennessee Metropolitan Area, and 252 miles north of Mobile, Alabama

Metropolitan Area.

Major business schools in the Birmingham region supply a constant stream

of labor to support the area’s industry. According to the U.S. Department of

Education there are nearly 100,000 post-secondary students within a 50-

mile radius of downtown Birmingham, representing two dozen universities,

community colleges and technical schools. In 2013, there were 3,748

Business Management, Marketing and Support Degrees earned and 419

Computer and Information Science Degrees earned within a 50-mile radius

of downtown Birmingham.

Birmingham, AL Bessemer City Hall

US NAVY OPERATIONAL

SUPPORT

MODULAR CONNECTIONS

SPECIAL SHAPES REFRACTORY

FAVOR STEEL

ASHLEY'S FURNITURE

HOMESTORE WAREHOUSE

US MARINE CORPS RESERVE

FRESENIUS KIDNEY CARE

BASSEMER

LAWSON STATE COMMUNITY

COLLEGE

BESSEMER CITY HIGH SCHOOL

WALMART PHOTO PRINTING

N

I-20

(+/-

43,

789

VPD

)

9TH A

VE SW

(+/-

18,5

06 VPD)

ACADEMY DRIVE

Tractor Supply Company • Bessemer, AL 8

Demographics 690 Academy Drive Bessemer (Birmingham), AL 35022 0 - 3 mi. 0 - 5 mi. 0 - 10 mi.

Population

2016 Population 17,710 43,970 165,193

2021 Population 18,010 44,613 170,221

2010-2016 Annual Rate 0.18% 0.10% 0.58%

2016-2021 Annual Rate 0.34% 0.29% 0.60%

Households

2016 Total Households 7,006 17,341 63,375

2021 Total Households 7,129 17,612 65,255

2010-2016 Annual Rate 0.19% 0.14% 0.58%

2016-2021 Annual Rate 0.35% 0.31% 0.59%

Average Household Income

2016 Average Household Income $57,092 $56,716 $69,617

2021 Average Household Income $61,816 $61,698 $76,485

2016-2021 Annual Rate 1.60% 1.70% 1.90% N

Tractor Supply Company • Bessemer, AL 9

going beyond

The information contained herein was obtained from sources believed reliable, however, Stan Johnson Company makes no guaranties, warranties or representations as to the completeness thereof. The presentation of this property for sale, rent or exchange is submitted subject to errors, omissions, change of price or conditions, or withdrawal without notices.

Offered Exclusively by

Stan Johnson Company6120 South Yale Avenue | Suite 300Tulsa, Oklahoma 74136 P: 918.494.2690

stanjohnsonco.com

Gill Warner, CCIM Senior Director gwarner@stanjohnsonco.com P: +1 918.794.9512

Sharon Jordan Senior Analyst sharon@stanjohnsonco.com P: +1 918.794.9513

In association with Ryan Butler AL Lic. #000101183