Hampton Roads

COMMANDER CORPORATE CENTER6160COMMANDER PARKWAYNorfolk, VA 23502

$10,900,000.00

FOR SALECONTACT US

B. GRAY RANDOLPH, SIORExecutive Vice President+1 757 228 1817gray.randolph@cbre-norfolk.com

DONALD R. CRIGGER, CCIMExecutive Vice President+1 757 228 1847don.crigger@cbre-norfolk.com

CHRISTOPHER J. KIERANSenior Vice President+1 757 228 1867chris.kieran@cbre-norfolk.com

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AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its

contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

© 2017 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

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CBRE | Hampton Roads is pleased to exclusively offer the opportunity to acquire the state-of-the-art Class A Commander Corporate Center in Norfolk, VA within the “Hampton Roads” area. The property is vacant and ready for immediate occu-pancy.

The property is located adjacent to the brand new Simon Premium Outlet Mall and is also convenient to both Interstate 64 and Norfolk International Airport which are major office-demand drivers. Within a 5 minute drive is the Military Highway retail corridor, one of the largest shopping, entertainment, and dining concentrations in the entire region.

The property is in the office submarket which is the closest to the Norfolk Naval Base, the world’s largest naval base, and to the Joint Expeditionary Base Little Creek - Fort Story, the major operating station for the amphibious forces of the Atlantic Fleet and home to extensive SEAL team operations.

Built in 2007, the property is among the region’s most modern office buildings which minimizes the potential building capital associated with most office building investment opportunities. Above-standard Class A finishes include 9’ finished ceil-ing height, 2’ x 2’ ceiling tiles with parabolic lighting, wall covers, and tile and carpet flooring.

Offering Price: $10,900,000

Terms: All cash

Square Feet: 65,524

Occupancy: Vacant

THE OFFERING

INVESTMENT SUMMARY

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SITE

The four-story Class A office building is located adjacent to Interstate 64 and the Norfolk International Airport with access from Miller Store Road. The property has an intimate park setting (known as Commander Corporate Center) with attractive views of a water feature and the adjacent Simon Premium Outlet Mall The I-2 Light Industrial District allows light industrial uses as well as accessory commercial and office uses.

PARKING

The property offers on-site paved parking at a ratio of approximately 4 spaces per 1,000 square feet.

PROPERTY DESCRIPTION

The building is tan colored brick, accented with beige colored precast bands, setting off the azure-tinted, energy-efficient reflective glass windows. Flanking the entrance are natural ledgestone buttresses supporting a stainless steel accented bow string roof. The lobby doors are sheltered under a stainless steel blade creating a canopy with a dry entrance apron.

SIGNAGE

There is exterior building signage available and a monument sign at Miller Store Road identifying the building with views from interstate 64.

LANDSCAPING

The building features abundant natural and installed landscaping served by an irrigation system.

FIRE / LIFE SAFETY

The property is protected by an automatic wet pipe sprinkler system.

SECURITY

The building features a card access system for 24-hours, 7 days per week to include after hour access. The site also features extensive parking lot lighting with 30’ poles including illumination at all property entrances.

INTERIOR FINISH

The building features Class A office finishes throughout the premises. Above-standard office finishes include 9’ finished ceiling height, wall coverings in common areas, 2’ x 2’ ceiling tiles in most areas, and solid core doors with welded steel frames. The building also features ceramic and natural stone tile and carpet in lobby area, ceramic tile floors and walls with granite counters in the restrooms, and carpeted stairwells.

ELEVATORS

Transportation between floors is provided by two (2) 4,000 pound hydraulic cars manufactured by Canton Elevator at a speed of 150 feet per minute.

ROOF

The building has a single ply, reinforced PVC, .045 membrane roof which is mechanically fastened and which meets Factory Mutual I-90 standards. The insulation is R-19, 2.7” rigid insulation board.

HVAC

Heating, ventilation, and air conditioning for the building is provided by two curb-mounted, Trane Intellipack VAV systems, complete with supply fan economizer and vibration isolation rails. There is electric morning warm-up and night heating, and a variable frequency driven supply fan with manual bypass. A microprocessor based building automation system monitors and controls the HVAC equipment.

ELECTRICAL SYSTEM

The main electrical service is a 480/277-volt, three-phase, four-wire primary service. Power is supplied to each floor at 277/480 volts, three-phase, four-wire for lighting and HVAC equipment.

GENERATOR

125KW diesel engine generator

PROPERTY DESCRIPTION

Number of Stories............................................................................ Four (4)

Year Built...............................................................................................2007

Address............................................6160 Commander Parkway, Norfolk, VA

Zoning.................................................................1-2, Light Industrial District

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INTERIOR PHOTOS

FITNESS CENTER DINING AREA

CONFERENCE ROOM CONFERENCE ROOM

*Note: equipment and furniture have been removed

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FLOOR PLANS

FIRST FLOOR SECOND FLOOR

THIRD FLOOR MEZZANINE

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AERIAL MAP

COMMANDERCORPORATE CENTER

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REGIONAL MAPC O M M A N D E R C O R P O R A T E C E N T E R

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REGIONAL OVERVIEW

OVERVIEW

Norfolk is part of the 1.7 million person “Hampton Roads” area of Virginia which is the second largest market (ranking only behind Charlotte, NC) between Washing-ton, D.C. and Atlanta, Georgia in the Mid-Atlantic and Southeast region of the East Coast. Hampton Roads features a diverse economy including one of the largest ports in the country and a national-leading military sector with major military head-quarters and the world’s largest naval base. Businesses are attracted to Hampton Roads for a number of factors including a relatively low cost of living, high quality of life, and a well- educated and ample labor force.

The Hampton Roads area is well-known for its long rich history including the settler’s first landing on American soil at Jamestown in 1607. Jamestown is located in the northern portion of Hampton Roads and is a major tourist attraction along with nearby Yorktown and Williamsburg which have rich histories as well.

DEMOGRAPHICS

There are 1.7 million residents of Hampton Roads which is approximately 20% of the total state population. Six of the 10 most populated cities in all of Virginia are located within the region. Norfolk is the 2nd most-populated city in the state and has a higher population than such other Virginia cities as Richmond, Arlington, and Al-exandria. Norfolk also has by far the highest population density of any city in the region.

GEOGRAPHY

Norfolk is located at the geographic center of the East Coast, approximately 75 miles southeast of Richmond, Virginia (the State capitol), 170 miles southeast of Washington, D.C. and 110 miles northeast of Raleigh, North Carolina. The area is approximately 430 miles south of New York City and 570 miles north of Atlanta.

Hampton Roads includes 9 cities and 5 counties stretching from Williamsburg to the North Carolina State line. The Hampton Roads harbor bisects the area into two sectors: the “Peninsula” to the north of the harbor and “South Hampton Roads” to the south of the harbor. The most populous cities are Virginia Beach, Norfolk, and Chesapeake, all of which are in South Hampton Roads. The MSA encompasses over 2,900 square miles.

TRANSPORTATION

The area’s central East Coast location puts Hampton Roads within a 750-mile radi-us (one day’s drive) of two-thirds of the U.S. population and industrial activity. The area is linked to the Northeast and Southeast markets via U.S. 13 (through the Chesapeake Bay Bridge Tunnel) and Interstates 85 and 95 via U.S. Routes 58 and 460. The local area is served by a “beltway” which is comprised of 120 miles of highways including Interstates 64 (the state’s major east-west artery), 264, 464, 564, and 664.

The region’s port facilities and industrial sites are linked throughout the U.S. and Canada by two major railroad lines: Norfolk Southern Corporation and CSX Cor-poration. These railroads combined consist of 43,200 miles of tracks, providing direct links to 23 states in the eastern half of the U.S. and reach other states via connection carriers.

Airports in Hampton Roads service over 4.0 million passengers annually with over 100 daily non-stop and direct flights. The airlines with local service includes Delta, U.S. Airways, American Airlines, United Airlines, and Southwest Airlines. In addition to Washington, D.C., states and cities with daily non-stop flights include:

+ Atlanta, Georgia

+ Baltimore, MD

+ Chicago, IL

+ Dallas, TX

+ Detroit, MI

+ Houston, TX

+ Miami, FL

+ Newark, NJ

+ New York City

+ Orlando, FL

+ Philadelphia, PA

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EDUCATION

Over 100,000 students are enrolled in the area’s eight four-year institutions and four community colleges, and the 25,000 graduates in 2014 from the region’s colleges and universities provide a work-ready talent pool from which area employers can recruit. Colleges and universities based in the area include Old Dominion University, the College of William & Mary, Christopher Newport University, Norfolk State University, and Hampton University. The region’s higher education presence began in 1693 when William & Mary was founded, making it the second oldest American college behind only Harvard. In the 2016 rankings of 1800 colleges and universities issued by U.S. News & World Report, William & Mary was recognized as the 4th best undergrad teaching, the 6th best public university, and 34th best university overall.

Hampton Roads is also home to Eastern Virginia Medical School, the only privately funded medical school in Virginia. The University of Virginia and George Washington Uni-versity offer graduate courses in the Hampton Roads area. Private technical schools include Bryant & Stratton, South University, ECPI Computer Institute, ITT Technical Institute, and Strayer University.

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REGIONAL OVERVIEW

ECONOMY

The gross regional product for Hampton Roads is in excess of $96.2 billion as of year-end 2016. The region has a workforce of approximately 830,400, and the area unemployment rate was 4.7% as of January 2017. 91% of the area’s popula-tion has at least a high school diploma, associate degree or higher.

According to the Virginia Employment Commission, the largest sectors of the area’s local economy are as follows:

Hampton Roads is home to over 155 international businesses from 26 different countries led by Germany (31, Japan (24), and the United Kingdom (17).

Local research facilities which contribute to the area’s “high-tech” community in-clude NASA Langley Research Center, Jefferson Lab, National Institute of Aero-space, and the Virginia Modeling and Simulation Center.

Hampton Roads is home to three corporations that are recognized as among the Fortune 500 for 2016. The three local corporations among the Fortune 500 are Huntington Ingalls Industries, Dollar Tree, and Norfolk Southern.

The area’s largest private sector employers are:

The economy of Hampton Roads continues to grow with three of the region’s largest sectors being the Port of Virginia, the military presence, and tourism.

INDUSTRY NUMBER EMPLOYED

Government Total 160,117

Health Care & Social Assistance 92,007

Retail Trade 87,277

Local Government 82,212

Accommodation & Food Service 79,588

Federal Government 56,685

Manufacturing 50,701

Source: Virginia Employment Commission, Economic Information & Analytics, Quarterly Census of Employment & Wages (QCEW), 2nd Quarter (April, May, June) 2016

COMPANY EMPLOYEES BUSINESS

Huntington Ingalls Industries 24,000 Shipbuilding and Repair

Sentara Healthcare 22,000 Full-Service Health Care

Riverside Health Systems 8,000 Full-Service Health Care

NASA Langley Research Center 4,000 Aerospace Research/Tech Center

Old Dominion University 3,268 University

Colonial Williamsburg Foundation 3,100 Museums/Cultural Exhibits

Bank of America 3,025 Banking/Credit Card Service

Chesapeake Regional Medical Center 2,400 Hospital, Health Care Services

Gold Key/ PHR Hotels & Resorts 2,400 Developer, Owner/Operator of Hotels

GEICO Direct 2,300 Insurance Sales & Service

TE Connectivity, Ltd. 2,300 Sensors & Sensor-Based Systems

Smithfield Packaging 2,100 Meat Processing & Packaging

Source: Hampton Roads Economic Development Alliance – March 2016

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REGIONAL OVERVIEW

PORT OF VIRGINIA

The Port features 20 shipping lines offering weekly service to Europe and Asia. The Port is recognized as the third-largest volume port on the East Coast in terms of general cargo (break-bulk and containerized cargo) and the sixth-largest container-ized cargo complex in the United States. The Port’s TEU volume in 2015 was ap-proximately 2.5 million, a 6.5% increase over 2014. The Port’s 2016 fiscal year budget includes over $135 million dedicated for capital expenditures. According to the Port’s 2040 Master Plan, demand for terminal capacity is forecasted to triple to 7.2 million TEU in 2040.

The Port of Virginia features the best natural deep water harbor on the East Coast with its unobstructed ice-free harbor, 50-feet-deep channels, and a location 18 miles from the open ocean. The Port of Virginia is the only East Coast port with congressional authorization to dredge to 55 feet. In areas where container ships are carrying tons of thousands of twenty-foot equivalent units per voyage, deep water and the absence of overhead restrictions is a significant competitive advantage.

The Virginia’s road, rail, and marine highway systems provide multiple avenues to quickly and efficiently deliver cargo to its destination, making the Port of Virginia the ideal location for first and last port-of-calls.

Norfolk Southern’s Heartland Corridor provides efficient double-stack container rail service between Virginia and the Midwest destinations of Columbus, OH and Chi-cago, IL. The Heartland Corridor further connects to the Crescent Corridor, a major North-South rail corridor that provides rail access to fast-growing markets in the South such as Charlotte, NC, Memphis, TN, and Atlanta, GA.

CSX Transportation directly serves the Port of Virginia through APMT and is in the final states of completing its National Gateway rail corridor, which will provide dou-ble-stack container rail service to Midwest manufacturing centers and distribution sites in North Carolina, Pennsylvania, and Ohio.

The Port of Virginia includes four marine terminals with one located on the Peninsu-la (Newport News Marine Terminal) and three located in South Hampton Roads (Norfolk International Terminals, Portsmouth Marine Terminal, and Virginia Interna-tional Gateway). Newport News Marine Terminal is the Port’s main break-bulk and roll-on/roll-off facility and is served directly by CSX rail. Norfolk International Termi-nals is the Port’s largest terminal with 2.2 million TEU capacity, 14 Super Post-Pan-amax Class quay cranes, and direct-rail service by Norfolk Southern.

MILITARY PRESENCE

Hampton Roads hosts one of the highest military concentrations in the country in-cluding 102,222 active-duty military personnel with local operations of all branches of the U.S. military. Hampton Roads attracts the fifth most Department of Defense dollars of any region in the country, and approximately 37.6% of employment in the region is either directly employed or supported by the Department of Defense. The local military includes both operating forces and major command headquarters. Major military command headquarters for the Navy, Marines, Coast Guard, Army, and Air Force, as well as for the Department of Defense, are located throughout the region including the Naval Network Warfare Command on the cutting-edge of cy-ber-security, a higher growth element of the economy. The largest single military facility in the area is the Naval Station Norfolk which is the largest Naval base in the world and is home to nearly 70 home-ported ships and16 squadrons. Additionally, Hampton Roads is home to the only NATO Strategic command (the Allied Com-mand Transformation) in the United States. Military spending also directly benefits major local companies such as Huntington Ingalls which constructs both subma-rines and aircraft carriers for the U.S. Navy.

The large military presence in the region contributes a substantial skilled pool of potential workers to benefit the local economy. Each year over 6,000 highly trained military personnel transition from active duty to the civilian workforce with an oppor-tunity to consider ongoing employment in the Hampton Roads area.

TOURISM

Hampton Roads provides a diverse set of tourist attractions which attract millions of visitors annually. Among many options available throughout the entire region, visi-tors can choose from the surf and sand of Virginia Beach to the east or the historic attractions of Williamsburg, Yorktown, and Jamestown to the west.

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Hampton Roads

CONTACT US

B. GRAY RANDOLPH, SIORExecutive Vice President+1 757 228 1817gray.randolph@cbre-norfolk.com

DONALD R. CRIGGER, CCIMExecutive Vice President+1 757 228 1847don.crigger@cbre-norfolk.com

CHRISTOPHER J. KIERANSenior Vice President+1 757 228 1867chris.kieran@cbre-norfolk.com