THE SHOPS ATEAGLE COMMONS

SALE SUMMARY

2830 North Eagle RoadMeridian, IDHigh Visibility Net Lease Retail Building in America’s Fastest Growing City

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CLAY ANDERSON, MBA, CPA208 489 6177clay.anderson@colliers.com

MIKE CHRISTENSEN208 472 2866mike.christensen@colliers.com

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THE SHOPS AT EAGLE COMMONSInvestment Summary

This investment opportunity is for the interest in Eagle Commons—2830 North Eagle Road, a 10,659 square foot retail center sitting on 1.446 acres. The center has excellent tenant synergy and a dynamic cross-shopping experience and is shadow-anchored by strong national retailers. Eagle Commons is along Eagle Road in Meridian Idaho, Eagle Road is one of the valley’s most critical north-south artery roads and more than 51,000 vehicles pass by the building each day. Meridian is Idaho’s second largest city with a population of 95,000 and is part of a larger MSA population of 670,000. In February of 2018 Forbes named the Boise area as the #1 Fastest Growing City in America.

Pricing: $3,730,000

NOI: $233,117

Cap Rate: 6.25%

Size: 10,659 SF

Price/PSF: $349.94

Occupancy: 100%

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THE SHOPS AT EAGLE COMMONSProperty Overview

ProfileProperty Name: Eagle Commons

Address: 2830 N Eagle Road

Building Size: 10,659 SF

Land Size: 1.446 Acres

Parcel: R8048310100

Zoning: C-G

Parking: On-site with ample cross-parking

Year Built: 2009

Highlights » High visibility and accessibility off of Eagle Road ±51,128 VPD directly in front of building

» Strong tenant mix Five Guys, Firehouse Subs, Lady Jane’s Haircuts, and Cricket

» Fantastic location in the heart of the booming West Boise and surrounded by a strong and growing residential area

» Neighbor tenants include Gold’s Gym, McDonalds, Idaho Central Credit Union, Chili’s, Orange Theory Fitness, Togo’s, and Les Schwab

» Shadow-anchored by Lowe’s, Kohls, Walgreens, and Dick’s Sporting Goods

» Attractive assumable financing at 4%

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THE SHOPS AT EAGLE COMMONSSite Plan

Firehouse Subs is a U.S.-based, fast casual restaurant chain

founded in 1994 in Jacksonville, Florida by former firefighters. Firehouse Subs has opened

over 1,135 franchise restaurants in 44 states as well as Puerto

Rico and Canada.

Joy Salon is spearheaded by a master hair stylist who styled hair for celebrities in

Los Angeles before choosing Meridian, Idaho as home. The salon brings luxurious quality hair services to the men and

women of Meridian.

Lady Jane’s Haircuts For Men offers quick walk-in and

appointment hair services for men in a sports bar style environment. Lady Jane’s is

the world’s most popular men’s grooming salon and has more than 100 locations in 15 states.

Cricket Wireless LLC is a prepaid wireless service provider in the United States, a wholly owned

subsidiary of AT&T Inc. It offers mobile voice, text, and data

using parent AT&T’s nationwide network. Cricket Wireless was

founded in 1999.

Five Guys Enterprises LLC is an American fast casual

restaurant chain focused on hamburgers, hot dogs, and

French fries. As of 2016, Five Guys had over 1,500 locations open worldwide, with 1,500

locations under development.

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THE SHOPS AT EAGLE COMMONSLocation

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THE SHOPS AT EAGLE COMMONSLocation

SITE

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THE SHOPS AT EAGLE COMMONSDemographics

2830 N Eagle Road | Meridian, ID 1 Mile 3 Miles 5 Miles

POPULATION

2018 Estimated Population 10,803 98,667 228,803

2023 Projected Population 12,270 109,960 254,883

2010 Census Population 7,885 82,736 191,313

Historical Annual Growth 2000 to 2018 7.2% 3.6% 3.5%

HOUSEHOLD

2018 Estimated Households 3,497 35,103 82,965

2023 Projected Households 3,833 38,448 90,966

2010 Census Households 2,568 29,470 69,550

Historical Annual Growth 2000 to 2018 6.9% 3.8% 3.7%

INCOME

2018 Est. Average Household Income $93,445 $81,258 $86,292

2018 Est. Median Household Income $82,600 $67,562 $68,130

MISC.

2010 Median Home Value $242,620 $227,933 $230,271

2010 Median Rent $978 $874 $849

2018 Est. Median Age 34.7 36.5 37.3

2010 Average Travel Time to Work 20.6 19.9 20.0

2018 Est. Labor Population Age 16+ 8,113 75,923 177,584

2018 Est. Total Household Expenditure $237 M $2.14 B $5.27 B

*The Wall Street Journal recently reported in April 2018 that the median price of a single-family home in the Boise area has doubled from $147,000 in 2011 to $297,000 in 2018.

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THE SHOPS AT EAGLE COMMONSArea Overview — Meridian

Meridian is Idaho 2nd largest city and has been one of Top 5 fastest growing cities in Idaho for 15 consecutive years. Meridian’s undeniable quality of life, affordability and urban proximity make it one of the most desirable places to live in the West.

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THE SHOPS AT EAGLE COMMONSArea Overview

Quality of LifeReferred to as the “Treasure Valley”, the region is home to about 675,000 people. The workforce of roughly 330,000, live within a 45-minute draw area. Known for its extraordinary quality of life and affordable cost of living (currently one of the lowest in the western states, according to the ACCRA Cost of Living Index), the Valley is consistently ranked by Forbes, The Wall Street Journal, Livability and Inc. Magazine as one of the best places in the U.S. to live and work.

Commuting in the ValleyThe major interstate serving the Treasure Valley is I-84, running through the metro area’s major cities (Boise, Meridian, Nampa and Caldwell). Branching off to the northeast is I-184, which runs into downtown Boise. Daily commutes are easy, with several U.S. and state highways providing direct routes and minimal traffic. The average commute time is only 18 minutes. Public transportation is handled by ValleyRide, Treasure Valley Transit and ACHD Commuteride.

RecreationThe Boise River runs through downtown and is accessible through a greenbelt system with over 25 miles of bike paths and 850 acres of parks. Up in Foothills you’ll find more than 135 miles of nationally acclaimed hiking and mountain biking trails that extend from the city up to Bogus Basin Ski Area. Only 17 miles from the city center Bogus Basin offers winter skiing and summer adventure. With world-class golf courses, hiking, fishing and mountain biking, the recreation opportunities are virtually unlimited within a 30-minute drive.

DiversityThe City of Boise has been recognized for its work welcoming over 800 new citizens (refugees) each year from over 20 foreign countries. Annual diversity events and resources include PRIDE activities, The Basque Cultural Center, Hispanic Cultural Center and the Black History Museum. More than 90 different languages are spoken in the Boise School District and the Mexican Consulate also has an office in Boise.

What about logistics? There are 50 motor freight companies traveling 5 interstates, 20 U.S. highways and 30 state highways that serve the Boise Valley. More than 1,600 miles of rail line through Union Pacific and Burlington Northern Santa Fe provide connection points to Canada, Mexico and the U.S. They are aided by the state’s regional line and 6 short line railroads. Annually, the rail system transports over 11 million tons of freight.

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THE SHOPS AT EAGLE COMMONSArea Overview

IDAHO TAX OVERVIEWSales and Use Tax in Idaho is 6%. This would apply to items purchased or consumed in Idaho. Exemptions are available for equipment and raw materials used directly in manufacturing, processing, or fabrication; clean rooms used in semiconductor and semiconductor equipment manufacturing; and any equipment or material used in research and development activities.

We do not tax services including telecommunication services, and utilities such as water, gas, electricity, or natural gas. In our region we do not have any local option sales tax.

Property Tax personal (machinery/equipment) and real (land/buildings) – based on market value. 2017 Rates: Ada County Average Range: 1.1% - 1.8% Bannock County Average Range: 0.8 - 1.2% Canyon County Average Range: 1.5% - 2.5% Elmore County Average Range: 1.8%

Idaho does not have an inventory tax.

Corporate Income Tax – Computed at 7.4% of the Idaho taxable income of a corporation. Corporations that are taxable in Idaho and another state or country or are part of a unitary group of corporations, use a 3 factor formula to ascertain how much of the business is conducted in Idaho. The apportionment formula is made up of a property factor, a payroll factor, and a sales factor. These three factors, with the sales factor being double weighted for all taxpayers except for electrical and telephone companies, are totaled and divided by 4 to compute the Idaho apportionment factor. The Idaho apportionment factor is then applied to the business income of the corporation to compute income assigned to Idaho. Non-business income allocable to Idaho is added to the income apportioned to Idaho to arrive at Idaho taxable income.

SALES & USE TAX6%

CORPORATE INCOME TAX7% MINIMUM

WAGE$7.25/hr

STATE UNEMPLOYMENT INSURANCE RATE1.91%

UNION MEMBERSHIP(NAT’L AVG: 11.9%)7.1%

PERSONAL INCOME TAX RATE RANGE Rate range on a bracketed system based on income levels

1.6%-7.8%#2 BEST STATE Property tax rate (2013 Tax Foundation Study)

PROPERTY EXEMPTIONFirst $100,000 of personal property is exempt from taxation

right to workIDAHO IS A

STATE

Col l iers Internat ional Idaho | 755 West Front Street , Sui te 300 Boise , Idaho 83702 | www.col l iers .com/idaho | 208 345 9000

THE SHOPS ATEAGLE COMMONS

2830 North Eagle Road — Meridian, ID

CLAY ANDERSON, MBA, CPA208 489 6177

clay.anderson@colliers.com

MIKE CHRISTENSEN208 472 2866

mike.christensen@colliers.com