OFFERING MEMORANDUMSTARBUCKS | OCEAN SPRINGS, MS

TABLE OF CONTENTS

EXCLUSIVE REPRESENTATION

04 Transaction Summary05 Tenant Summary07 Aerial Maps10 Metropolitan Map11 Market Overview12 Demographics

Jordan ShtulmanManaging Principal847 226 4133Jordan@stream-cp.comLic: 475.152062

Adam EnglishManaging Director256 694 9803Adam@stream-cp.comLic: 000096920

Broker of Record: Robert Jolly | 205.314.0382

Adam BaxterVice President205 394 3520Abaxter@stream-cp.comLic: 000080803

mailto:Jordan@stream-cp.commailto:Adam%40stream-cp.com?subject=mailto:Abaxter%40stream-cp.com?subject=

This Offering Memorandum (“Memorandum”) is intended solely for the use of prospective investors in determining whether or not to pursue the possible acquisition of the Retail Property (“the Property”) at 3158 Bienville Blvd in Ocean Springs, Mississippi. This Memorandum is of a proprietary and confidential nature. Prospective investors and/or their advisors are expressly forbidden from sharing this information with any individuals or organizations that are not directly connected with the analysis of this investment opportunity. STREAM Capital Partners, LLC (“SCP”) have been retained as the exclusive advisors for this investment opportunity. Any and all inquiries are to be directed to SCP.

By accepting this Memorandum, the recipient agrees that it will cause its directors, officers, employees and representatives to use the Memorandum and all of the information contained therein only to evaluate this specific investment opportunity and for no other purpose and shall return this Memorandum together with any copies to SCP upon request. This Memorandum contains confidential material which is non-public information. Receipt of this Memorandum constitutes your acknowledgment that you will maintain the information contained herein in strict confidence.

All information contained herein has been provided by the Organization, its affiliates or other sources that SCP deems reliable; however, SCP has not independently verified any of the information, including the financial estimates and projections and selected real estate information, contained herein. This Memorandum includes information about the Organization, including selected financial information, estimates and projections that reflect various assumptions concerning anticipated results, which may or may not prove to be correct and selected real estate information which may or may not prove to be correct. Such projections and estimates may or may not be indicative of future performance, which may be significantly more or less favorable than that as reflected herein.

In furnishing this Memorandum, none of the Organization, its affiliates or SCP undertakes any obligation to provide additional information or to correct or update any of the information set forth in the Memorandum. None of the Organization, its affiliates or SCP makes any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained herein in this Memorandum, or made available in connection with any further investigation of the Organization, and nothing contained herein is, or shall be relied upon as, a promise or representation, whether as to the past or the future. The recipient should rely solely on the representations and warranties made to it by the Organization or its affiliates in any executed definitive agreement.

Under no circumstances should the Organization, its affiliates or any of their management, directors, shareholders, employees, customers or vendors be contacted directly.

DISCLAIMER

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TRANSACTION SUMMARY

Lease Specifications

Lease Type: NNLandlord Responsibilities: Roof & StructureTenant: StarbucksInitial Term: 10 YearsRemaining Term: Approx. 8 YearsLease Expiration: 2026Rental Increases: 10% every five (5) yearsOptions: Four, 5-Year OptionsNotes: Kick-Out clause eliminated

by Starbucks

Purchase Price: $1,413,793Cap Rate: 5.80%Annual Rent: $82,000

Address: 3158 Bienville Blvd.Ocean Springs, MS

Rentable Square Feet: 1,850 SFLot Size: 0.60 AcresYear Built: 2016

Property Specifications

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TENANT SUMMARYStarbucks Corporation is the premier roaster, marketer, and retailer of specialty coffee in the world. Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting the highest quality arabica coffee in the world. With more than 300,000 employees wearing the iconic green apron globally in 76 countries/markets, Starbucks is the premiere roaster and retailer of specialty coffee in the world. Through unwavering commitment to excellence and guiding principles, the unique Starbucks Experience is brought to life for every customer through every cup.

In addition to the company’s flagship Starbucks Coffee brand, Starbucks sells goods and services under the following brands: Seattle’s Best Coffee, Evolution Fresh, Tazo, Teavana, La Boulange, and Ethos. Founded in Seattle, Washington in 1971, Starbucks has become the largest coffeehouse company in the world. As of December 31, 2017, the company operates 28,039 retail stores worldwide in 76 countries with more than 13,000 locations in the United States.

Credit Rating: S&P: A-/StableTraded: NASDAQ: SBUXYear Founded: 1985No. of Locations: 28,039+

No. of Employees: 254,000+

Total Revenue (as of 4/2/17): $21.98 billionNet Worth (as of 4/2/17): $5.6 billionHeadquarters: Seattle, Washington

Starbucks Corporation

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Q1 FY18 operating income of $196.8 million grew 20% over Q1 FY17 operating income of $163.4 million.

Net revenues for the Americas segment grew 7% over Q1 FY17 to $4.3 billion in Q1 FY18, primarily driven by incremental revenues from 979 net new store openings over the past 12 months and a 2% growth in comparable store sales.

Net Revenues Up 6% to a Record $6 Billion; Global and U.S. Comp Store Sales Up 2%

Starbucks named fifth most admired company worldwide by Fortune magazine.

The “Starbucks Experience” is delivered more than 85 million times per week at more than 28,000 stores in 76 countries.

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AERIAL MAP

Singing River Health System: Ocean Springs Hospital

(2,500 Employees)

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AERIAL MAP

Singing River Health System: Ocean Springs Hospital

(2,500 Employees)

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AERIAL MAP

New Orleans92 miles

Mobile58 miles

Biloxi7.5 miles

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METROPOLITAN MAP

Ocean Springs, Mississippi, lies at the heart of the Mississippi Gulf Coast on the eastern shore of Biloxi Bay. It is part of the Pascagoula, Mississippi Metropolitan Statistical Area, which had an estimated population of 155,603 in 2009.

Voted as a top 10 Happiest Seaside Town by Coastal Living in 2015, Ocean Springs attracts nearly 750,000 visitors annually. Calling itself “the city of discovery,” Ocean Springs is an art enthusiast’s dream and culinary destination boasting more than 100 restaurants. With a reputation as an arts community, the town of 17,500 people supports more than 150 independent shops and art galleries.

Ocean Springs is a premier place for families with relatively affordable housing, schools that are among the best in the State of Mississippi, and low crime rate.

This hamlet on the Gulf is a confluence of Southern charm, thriving new businesses, and a stellar arts scene. - Coastal Living“ ”The Subject Property is located on Bienville Road which serves

55,000 vehicles per day. Located across the street from Singing River Health System’s Ocean Springs Hospital — the second largest employer in Jackson County with more than 2,500 employees — the Property is also in close proximity to other retailers in the immediate area that include The UPS Store, Dollar Tree, Raising Cane’s, Shell, and Rite-Aid.

In addition, Ocean Springs neighbors Biloxi, which is home to numerous hotels and casinos such as Harrah’s, the Golden Nugget, Palace Casino Resort, Boomtown, and the Hard Rock, to name a few.

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MARKET OVERVIEW

OCEAN SPRINGS DEMOGRAPHICS

1-MILE

7,151

1-MILE

$108,319

3-MILE

25,135

3-MILE

$107,233

5-MILE

35,830

5-MILE

$104,053

POPULATION ESTIMATE

ESTIMATED AVERAGE HOUSEHOLD INCOME

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CONTACT INFORMATION

Jordan ShtulmanManaging Principal

847 226 4133Jordan@stream-cp.com

Lic: 475.152062

BirminghamAL

StamfordCT

Los AngelesCA

4201 WEST IRVING PARK ROAD SUITE 200 CHICAGO, IL WWW.STREAM-CP.COM| ||

ChicagoIL

CharlotteNC

Ft. LauderdaleFL

Adam EnglishManaging Director

256 694 9803Adam@stream-cp.com

Lic: 000096920

Broker of Record: Robert Jolly | 205.314.0382

Adam BaxterVice President

205 394 3520Abaxter@stream-cp.com

Lic: 000080803

mailto:Jordan%40stream-cp.com?subject=mailto:Adam%40stream-cp.com?subject=mailto:Abaxter%40stream-cp.com?subject=