THE JONNA GROUP

THE JONNA GROUP

“Our preparation, ability to leverage, and consistent execution enables us to strategically target the best buyer for each property we represent. We look to implement a systematic upkeep of the latest retail trends, financing thresholds, leading economic indicators, demographic viability, and CAP rate movements to provide in depth and real time analysis to our marketing campaigns. We are committed to aligning ourselves with the client’s objectives, thereby improving their position, in order to serve as a stepping stone to long term relationship building through consultative guidance and sincere dedication in bringing maximum added value. Putting the client’s interest first is our main inspiration and by far the most important determinant of our continued success.” -SimonJonna

Experience the Difference - Profit From the ResultsThe Jonna Group of Marcus Millichap is an industry recognized team of investment specialists. Upon attaining National Achievement Award Honors company-wide, ranked as a Top retail agent for Marcus and Millichap nationwide among 1,200+ agents, Simon Jonna, the group’s manager, now serves as Director of both the National Retail Group (NRG) and Net Leased Properties Group (NLPG). Specializing in single tenant retail, shopping centers, and extensive portfolio disposition, with an emphasis on seller representation, the Jonna Group is regarded as a team with definitive product knowledge, exceptional resources, and a unique transactional tenacity.

Indicative of a seasoned track record, certain sales are often classified as landmark transactions due to superseding market expectations or surmounting deal hurdles in cases with unorthodox complexities. The Jonna Group has an in-depth understanding of the challenges and many nuances often presented by the market as they continue to create synergy with the largest buyer pool of qualified investors in the nation. The group has provided creative solutions to better position retail assets by maximizing value and sourcing the best buyers, thereby capturing optimal results in repeat fashion for clients, to include developers, builders, private owners, institutions, founders of chains, and former head executives of corporations.

THE JONNA GROUP

Our gauge of achievement is measured by client satisfaction, by meeting or surpassing expectations. Notably, our industry leading advisory and interaction have established our group’s ability to catapult our investor relations to volumes unmatched.

Simon Jonna - Vice President Investments- Director, National Retail Group- Director, Net Leased Properties Group

Investment Expertise ....................................................Net Leased Single Tenant RetailRetail Shopping Strips & CentersGround Lease & Lease Hold PropertiesNationally Recognized Single Tenant Portfolio ExpertsNationally Recognized Drug Store Team

Professional Affiliations ..............................................International Council of Shopping Centers, ICSCCommercial Board of Realtors, CBORCertified Commercial Investment Member, CCIM

Sales Achievements/Awards ....................................Ranked Among Top 15 Retail for Marcus & Millichap NationwideRanked Among Top 25 Overall for Marcus & Millichap NationwideNational Achievement AwardGold Sales Recognition AwardRookie of the YearCoStar Power Broker

Certifications ......................................................................CCIMSeries 7 (NASD – NYSE) LicenseSeries 3 National Futures Association (NFA) LicenseProperty & Casualty (P&C) License

UNPARALLELEDINVESTOR

RELATIONSHIPS

M M CM R T

T A O F U.S. Investment Sales Brokerage Company Ranking

* Includes sales of retail properties of $1 million and above nationally, 12 months ending December 2010; list side. Source: CoStar Group, Inc.

783

288

103

94

92

90

76

66

63

62

Marcus & Millichap

CB Richard Ellis

NAI

Grubb & Ellis

Cassidy Turley

Sperry Van Ness

Eastdil Secured

Coldwell Banker

Colliers International

Cushman & Wakefield

THE JONNA GROUP

Simon JonnaVice President Investments

Director, National Retail GroupDirector, Net Leased Properties Group

OUR PROFESSIONALS CUSTOMIZE SERVICESTO MEET THE OBJECTIVES & GOALS

OF EACH INDIVIDUAL CLIENT.The Jonna Group of Marcus & Millichap provides real estate investment sales, research information

and advisory services for retail single-tenant and multi-tenant net-leased assets. Our agentsleverage the firm’s national marketing platform to provide real estate investors with access to the

industry’s largest inventory of deliverable commercial property as well as to the largest pool ofqualified private and institutional buyers and sellers.

Jonathan DwoskinRegional Manager/Partner

Raymond JonnaAgent, National Retail Group

U of M Ross School of Business, MBA

Ryan CockerillAgent, National Retail Group

U of M, BA

Brandon HannaSenior Associate

Associate Director, Net Leased Properties Group

Geoff HarrisMarcus & Millichap Capital Corporation

Rated #1 MMCC Agent Nationwide

Natalie KmiecOperations Manager

NationalRetailGroup

SpecializedGroupofRetailAgents

MNetMarcus&MillichapExclusiveNationalListingInventory

Marcus& Millichap

CapitalCorp.

FinancialSolutionstoSourcingCapital

Research ServicesMacro&MicroMarketAnalysis

Outside BrokerageCommunity

Major Account ServicesAdministrativeSupportandLiterature

THEJONNAGROUP

Marcus & Millichap’s Jonna Sells $17.3 Million Kroger CenterWestwind Lakes Shopping Center Sold Reflecting a 7.56 percent CAP Rate Southfield, MI - Simon Jonna of the National Retail Group of Marcus & Millichap Real Estate Investment Brokerage Co. negotiated the sale of a West Bloomfield Kroger Center. The property is a Kroger anchored center located off the new M-5 connector in Oakland County.

Westwind Lakes was built in 1991 as a 120,513 square foot neighborhood shopping center and is currently 94 percent occupied. The property is leased to a diverse tenant base consisting of Kroger, Hollywood Video, Hallmark, Fantastic Sam’s, Papa John’s Pizza, and a CVS drugstore. .........................................................................................................

Marcus & Millichap’s Jonna Sells BankSouthfield, MI - Simon Jonna of the National Retail Group of Marcus and Millichap transacted a freestanding PNC building, The property is an out parcel to a movie theater/ Target development with direct frontage to the Haggerty retail corridor in Livonia. The property is a freestanding structure with a drive through and was built in 2005 and is currently under a long term absolute net - 20 year ground lease, The deal traded for a 6.125 percent capitalization rate to a 1031 exchange buyer..........................................................................................................

Jonna of Marcus & Millichap Closes Landmark Sale10 Properties in Three States Totaling $10 MillionSouthfield, MI - Simon Jonna and associate Brandon Hanna of Marcus & Millichap brokered a closing that consisted of 10 properties, with 10 separate notes, on one loan, in 10 separate cities, in New York, Michigan, and Ohio. The transaction included multiple tenants including Drug Stores, CVS, and Family Dollar.

Upon completing an extensive due diligence process with 10 on site property visits and inspections in separate phases, the group coordinated a loan approval process through Capmark Financial, buyer and seller legal teams, title and escrow, 1031 intermediaries, third party vendors and three separate lenders servicing the loan. “With our relationships, resources, aggressive approach, and seasoned experience with retail investments, our team successfully closed the transaction that Capmark labeled the bear of a transaction,” said Jonna..........................................................................................................

Loan assumption key in Drug Store dealIt was a deal that generated a swarm of activity, said Simon Jonna

of Marcus & Millichap. When he listed the six-store Drug Store portfolio, it look only a few weeks to find a buyer.

But what made the deal noteworthy, said Simon Jonna is that it points to some very significant trends.

The portfolio of stores, in Ohio. West Virginia and Michigan, sold lor $9.5 million to a West Coast buyer looking to pick up property in a 1031 exchange. The buyer had just sold another property, and in order to pay high taxes on the proceeds, he needed to buy a like-priced property, which is a common practice.

It was unusual that in this deal he was able to do so by assuming the existing loan.

“Assumption deals are a huge plus in today’s market place, for buyers and sellers, as financial institutions continue to weaken and commercial lending divisions continue to freeze up across the board.” Jonna said. “Sellers can creatively offer seller financing to compensate for equity shortfalls, and buyers do not have to succumb to the doom and gloom of lender feedback.”

Generally speaking, 1031 exchange buyers are more time-pressed, Jonna said.

“They’re looking for properties that are deliverable but a good value,” he said. “He was looking to place the same amount in debt and equity that he had from the prior sale, which allows him to essentially defer capital gains. And because it’s an assumable loan, it works out for the seller, too. He doesn’t have to put up any kind of pre-paids. It’s not costing him anything to pay off the loan.”.........................................................................................................

THE JONNA GROUP

WHAT THEY ARE SAYING IN THE MEDIA...

“The Jonna Group offers a commanding track record, strong market share, and in-depth knowledge that can affectively communicate the full potential

value of the asset, prompting buyers to be aggressive.” - Associated Press

Marcus & Millichap’s Jonna Group Closes SaleSouthfield MI - The Jonna Group announced the sale of two large shopping centers consisting of 160,000 square feet, 30 acres and 18 tenants, The two grocery anchored strip centers, The Maxway and Magic Mart Portfolio, located in Pearsiburg and Chase City, Va., sold for $6 million. The Jonna Group was hired by a repeat client,New York-based seller. The buyer, a 1031 exchange investor based on the east coast, purchased the properties as a package. Upon securing a $1 million hard money deposit released to the seller following the due diligence period, The Jonna Group closed the transaction. Tenants include: Lowe’s, Grocery, Food Lion, Maxway, Magic Mart, Sear, Goodwill, Pizza Hut. Cato Fashions, and Payday..........................................................................................................

Marcus and Millichap’s Jonna Closes Simultaneous SaleSouthfield, MI - Both a new construction TGI Friday’s and Panera Bread Café properties were marketed together, both in the construction phases and both prior to rent commencement and store opening. The seller’s stipulated preference was for Simon Jonna, Director of the National Retail Group, to generate all cash buyers with no financing contingencies and close each property within a week or less of each other. Jonna generated multiple offers on each asset the first week of the marketing period. The buyers, based from coast to coast, one from New York for Panera, the other from California for TGI, were all cash buyers with a 30 day close. Jonna and the attorney’s structured a simultaneous closing upon agreement from both investors. Each property proceeded to closing at full asking price. .........................................................................................................

THE JONNA GROUP

WHAT THEY ARE SAYING IN THE MEDIA...

$50 Million Credit Tenant Multiple PortfoliosHandled By The Jonna GroupThe Jonna Group Offers Retail Leverage and Execution The Jonna Group currently has upwards of $50 million in drug store portfolios currently listed and under contract with an expected additional $50 million to hit the market in the near term. The group is now recognized as one of the dominant drug store teams and represents several retail drug store/shopping center developers and builders including former drug store chain executives. founders. and large scale landlords. who have exclusively hired them to sell multiple assets nationwide.

The featured portfolios, Pool A and Pool C, entail assumable existing debt that must be acquired as a package of 10 properties each. Pool A and Pool C portfolios consist of corporate build-to-suit prototype-stores throughout the Ohio, Michigan, and New York markets, among others. The stores are priced to reflect attractive per square foot prices, capitalization rates, cash on cash returns, rent per square foot, and show for strong rent to sales ratio with a lost cost of occupancy. The tenants are primarily drug stores and include CVS, Family Dollar, and Dollar General.

“This offering combined with cross tenants, multiple locations and existing blanket debt, is very unique to the marketplace and can meet an investors objectives seeking diversification, low rents,corporate backing, five to 10 year remaining lease terms, and quality B/C product real estate, priced attractively.” said Jonna. “We look to create synergy with our large buyer pools and repeat investors: this enables us to add value by creating repeat business for our sellers. Several lenders shy away in today’s transiting market, causing fall out in deal transactions and buyer re-trades. ..................................................................................................................................................................................................

“Our Midwest presence uniquely benefits sellers by allowing for increased exposure to buyers nationally, including 1031 buyers,

due to 1031 buyers selling their downleg properties then actively calling us first as they seek higher yield territories, found in the Midwest states. This has afforded us

more attention with buyers, giving us maximum leverage.”

- Simon Jonna

Another advantage to our team is we are very experienced in aligning buyers with pro retail lenders who have closed wilh us before and who we have established positive traction with us over the years.”As a leader in the commercial real estate market with a focus on retail, The Jonna Group has developed important relationships with the largest pool of seasoned investors, thus, providing sellers wilh direct access to qualified buyers from across the country. The group maintains an extensive database of some of the most qualified buyers throughout the country and leverages the industry’s most powerful marketing platform into a fully integrated business platform of shared information, market tools, and transaction resources for the success of each client.

“I am very impressed with the work you have done for me. It is a pleasure to deal with professionals who are very adept at not only market conditions but how to sell properties. Your diligence and perseverance with buyers is truly commendable But more important is your patience with lenders. You have taken a lot of work off my shoulders by pursuing the lenders and spearheading any concerns or problems that they have.”

-CharlesSlaneThe Slane Company, LTD.

.........................................................................................................

“We are very happy with our results and your services. We would certainly recommend you to others considering the sale of investment real estate property. Some of the stores you sold for us had significant challenges in either store sales or the nature of the locations. In each case you were able to find buyers within a relatively short time, and to move those buyers into agreements with short time frames and seller friendly terms. Your ability to work buyers through creative solutions to issues has also been very helpful. We consider the work done by your team at Marcus & Millichap to be instrumental in producing satisfying sales results.”

-SteveSwartzandJackRobinsonThe Jar Group, Founder and Former Chairman, Perry Drug Stores, Inc. (NYSE)

.........................................................................................................

THE JONNA GROUP

WHAT OUR CLIENTS ARE SAYING...

“As you know our company demands the absolute best in every aspect of our transactions and your team made it a point to effectuate a more than satisfactory finished product. After deciding to defer to your expertise, you cooperated with our company in a thoughtful and professional manner by securing the most qualified buyer and netting us the most money. Simon, your aggressive orchestration of this transaction resulted in a lower CAP than we initially listed with you. We look forward to listing another property with you and appreciate your integrity and confidence to be able to close deals.”

-AnthonyG.Antone,Esq.First Vice President, Kojaian Management Corporation

.........................................................................................................

REPEAT CLOSING CONSISTENCYIN CHALLENGED RETAIL CLIMATES

Sampling of Closed TransactionsProperty Name City State Sq. Ft. Price7-Eleven Novi MI 2,448 $558,000CVS “Ground Lease” w/Dollar General & Lee Beauty Southfield MI 28,017 $4,932196O’Reilly Auto Parts & Dollar Tree White Lake Twp MI 21,600 $1,500,000Walgreens Cross Lanes WV 14,550 $5,156,000Dollar General Store Muldraugh, KY Muldraugh KY 8,000 $365,000Advance Auto Parts Jackson MI 7,000 $810,000Jared – The Galleria of Jewelry Lake Grove NY 5,996 $1,704,471Jared – The Galleria of Jewelry Amherst NY 6,950 $994,009PNC & Dollar General Strip Center Erie PA 11,510 $1,000,000CVS Columbus OH 11,348 $2,500,000Pizza Hut Douglas GA 2,431 $658,750Dollar General 2009/15 Yr. Lease w/Bumps McPherson KS 9,100 $892,0007-Eleven Corporate STNL Sterling Heights MI 2,998 $1,100,000CVS Gahanna OH 11,500 $3,400,000PNC Bank Troy MI 3,500 $1,645,000Liberty 7 Drugstore Portfolio. Various OH 64,247 $6,254,820KFC – 2009 Construction, 165+ Unit Operator Grand Blanc MI 2,528 $750,000Pool A – CVS, Family Dollar, Rite Aid Various OH 90,174 $9,464,766Wendy’s Racine WI 2,798 $2,548,000CVS – Absolute NNN Corporate Ground Lease Gahanna OH 10,443 $3,240,000CVS – Absolute NNN Detroit MI 10,880 $1,666,188Pool C – Rite Aid, CVS & Family Dollar Portfolio Various MI 88,695 $9,900,000TGI Friday’s Corporate Ground Lease Livonia MI 7,961 $2,519,000Panera Bread Café – 2008 Construction Livonia MI 5,123 $2,635,000Maxway Plaza – All NNN - 90% Leased Chase City VA 60,234 $2,000,000Magic Mart Plaza – 100% Leased Pearisburg VA 97,798 $4,000,000Rite Aid – Phenomenal Store Sales Berkeley Springs WV 11,348 $1,570,000Rite Aid Drugstore Whitesville WV 11,180 $1,570,000Rite Aid Phenomenal Store Sales / Absolute NNN Campbell OH 10,363 $1,570,000Beltline Avenue Retail Center Grand Rapids MI 6,300 $1,785,000PNC – Ground Lease Livonia MI 3,475 $2,204,000Westwind Lake Village Shopping Center West Bloomfield MI 120,513 $17,300,000Northridge Plaza Meridian MS 77,512 $4,500,000Queens Shopping Center Queens NY 20,445 $5,100,000Rite Aid Drugstore Detroit MI 24,564 $6,100,000Pet Supplies “Plus” Howell MI 8,900 $1,575,000Lafayette Square Bay City MI 47,655 $2,100,000CVS Worthington OH 11,300 $1,800,000Tel Huron Shopping Center Pontiac MI 70,060 $9,500,000Panera Bread Farmington MI 4,000 $1,490,000Barnes & Noble West Bloomfield MI 42,625 $10,385,000AIMS 6 Drugstore Portfolio Various Various 70,000 $9,500,000CVS Columbus OH 11,400 $2,000,000Family Foods West Hempstead NY 10,000 $2,000,000

THE JONNA GROUP

O�ces Nationwide

7-ElevenSterling Heights, Michigan

$1,100,000 / 2,998 SF

On a Wednesday in March, a 1031-exchange investor contacted Simon Jonna and his team of retail investment specialists in Marcus & Millichap’s Detroit

Midwest hamburger restaurant that he was in the process of acquiring. Jonna and his team reviewed the financial statements of the franchisor and discovered substantial

investor, who needed to fulfill the obligations of his 1031 exchange by the close of business that Friday.

Jonna and his team assured the investor that they could assist him in fulfilling his obligations, in spite of the ultra-

a developer with a corporate-backed 7-Eleven to transact.

contained increases and there were two five-year options

of the exchange buyer’s needs but he was circumspect. He said that an estoppel certificate from 7-Eleven’s corporate headquarters was impossible to obtain in anything less

than two weeks. He was also convinced that it would take a minimum of 30 days to acquire a first right of refusal. Nevertheless, he backed out of the hamburger restaurant exchange and asked Jonna and his team to work on his behalf to acquire the 7-Eleven within three days.

a fully executed contract to 7-Eleven’s corporate o�ces.

through all of their contacts and every 7-Eleven corporate

same day, along with a $1,000,000 deposit and a signed

couldn’t find the environmental report necessary for the transaction. Jonna and his team returned to their contacts and located a company that would conduct an on-site phase-one inspection on the day of the closing.

Floored by the intensity of the agents’ work on behalf of their client, the seller is now a Jonna-team client himself.

7-ELEVEN SOLD IN THREE DAYS –SOURCE TO ESCROW – AT FULL PRICE

Marcus & Millichap accepted the assignment, sourced a property and closed on time.

A 1031 exchange had to be completed within three days.

A buyer came toMarcus & Millichap’s Detroit

office for assistance.

0710

Simon JonnaDirector, National Retail Group

248-415-2625simon.jonna@marcusmillichap.com

0310 Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2010 Marcus & Millichap

Six Rite Aid DrugstoresWest Virginia, Ohio and Michigan

$9,420,000 / 64,405 SF

MARCUS & MILLICHAP OVERCOMES FINANCING

HURDLE IN DRUGSTORE PORTFOLIO TRANSACTION

Simon Jonna and his team of Marcus & Millichap retail investment specialists in the Detroit o�ce were hired by the former top executive of a drug store chain to exclusively market a portfolio of six drugstores. �e portfolio was challenged by existing debt, which consisted of full-recourse �nancing.

Within weeks of a national marketing campaign and targeted exposure to the largest buyer pool in the nation, the group generated multiple o�ers for the properties. A California-based 1031 exchange investor emerged from a thorough quali�cation

process as the buyer with the highest probability of closing.

Upon conducting a due diligence period with a pass-through earnest-money deposit of $1.3 million released to the seller, the Marcus & Millichap team worked in conjunction with the seller, buyer and a large nationwide commercial real estate lender to obtain approval to assume the existing loan.

�e multi-property, multi-state transaction proceeded to a successful close.

A highly successful group of Marcus & Millichap retail agents in the Detroit office were engaged

to list a drugstore portfolio.

The properties were challenged by existing blanket debt in the form of one mortgage note that was

required to be assumed as a whole.

The group sourced a buyer and brokered the transaction, facilitating the arrangement of

financing to assume the existing debt.

Simon JonnaDirector, National Retail Group

248-415-2625simon.jonna@marcusmillichap.com

Liberty Portfolio Michigan and Ohio

$6,254,820 / 64,247 SF

MARCUS & MILLICHAP SELLS SEVEN-PROPERTY DRUG STORE PORTFOLIO

Agents in the Detroit Office Source a Buyer and Close the Transaction

The Portfolio Has to Be Sold in Its Entirety and the Loan Assumed

Marcus & Millichap Accepts Exclusive Listing for Seven-Property Portfolio

0610

Simon Jonna and his team of Marcus & Millichap retail investment professionals in the Detroit o�ce accepted theexclusive listing for a seven-property single-tenant netleased portfolio of Drug Stores. Four of the sites were vacated and of those, two were sublet and two were dark.  e portfolio was beset by aging buildings, declining store sales, short-term leases and a full-recourse loan.

 e entire portfolio had to be acquired as a package and the existing debt assumed.  e loan was a 10-year �xed rate loan with an interest rate of 6.25 percent and a 17-year amortization.  ree of the stores were in Michigan and four were in Ohio, which meant coordinating with two sets of state counsels to review title and state-related forms.

 e agents allocated pricing for the seller based on the agents’ opinion of value as opposed to the bank appraisers’ opinion.  is saved their client $94,000.

 e agents negotiated for the seller to retain recourse responsibility, which helped streamline the assumption process. A life insurance loan assumption closed intwo weeks.

A prospective investor emerged from the agents’ buyer selection process.  is potential buyer had a reputation forbacking out of transactions under contract but the agents were con�dent that this time the investor would be able toclose successfully.  e agents negotiated a more attractive price for the buyer and released $300,000 in advance directly to the seller.  e seller experienced an equity shortfall at closing due to the advanced proceeds, but the agents compensated by negotiating credit on another rotating escrow with same buyer.

 e portfolio closed for $6,254,820.

Simon JonnaDirector, National Retail Group

248-415-2625simon.jonna@marcusmillichap.com

PNC Bank Troy, Michigan

$1,645,000 / 3,500 SF

A triple-net leased opportunity with a large regional bank was marketed for eight months with a competing national commercial real estate brokerage before the seller chose to change brokers and list the property with Marcus & Millichap.

Simon Jonna and his team of retail investment

During the buyer selection process, the Detroit Marcus & Millichap agents handled objections regarding the region, the declining population in the area, low branch deposits, easement and shared signage. Also, it was later

than initially reported, yet the brokers further negotiated against any buyer retrade.

Marcus & Millichap closed the transaction at a lower cap rate than the property was initially listed for and

just 24 days, from listing to the close of escrow.

MARCUS & MILLICHAP SELLS

TRIPLE-NET-LEASED BANK

PROPERTY IN 24 DAYS

Marcus & Millichap Closes Transaction in Less than Four Weeks

Marcus & Millichap Accepts Listing

One of the Nation’s Top Banks Listed with Competing Brokerage

for Eight Months

0610

Simon JonnaDirector, National Retail Group

248-415-2625simon.jonna@marcusmillichap.com

O�ces Nationwide

10 Single-Tenant Retail Properties Michigan, Ohio and New York

$9,900,000 / 88,695 SF

MARCUS & MILLICHAP BROKERS SALE OF10-PROPERTY, 10-NOTE, ONE-LOAN PORTFOLIO

After Considerable Negotiation the Portfolio Is Sold

A Team of Detroit Agents Finds a Buyer, Coordinates the Loan Approval Process

Marcus & Millichap Accepts Unusually Complex Portfolio Listing

0910

Marcus & Millichap senior associate Simon Jonna and his team of retail agents in the �rm’s Detroit o�ce accepted a portfolio o�ering so rare and complex that even the seller doubted it could be sold in its entirety. �e o�ering consisted of 10 properties in 10 cities and three states, with 10 separate notes on one loan with multiple tenants including Drug Stores, CVS and Family Dollar. �e loan was a 10-year �xed-rate loan at 6.63 percent interest with a 30-year amortization structure.

�e team of retail investment professionals conducted an extensive due diligence process that included 10 onsite property visits and inspections. �e team coordinated a loan approval process that began with one of the nation’s largest commercial real estate lenders and included negotiations with legal teams, title, escrow and 1031 intermediaries, third-party vendors and three separate loan-servicer/ lenders including a master servicer and a special servicer

�e Detroit retail team sourced a buyer for the portfolio and negotiated the sale of the existing reserve account, at adiscount, in advance, to the buyer. During the transaction,the drug store announced its potential bankruptcy and the team negotiated the acceptance of estoppels with the parent corporation. �e team also assisted in negotiating lease terms for a dark site and legal fees with a well-known international law �rm.

During the course of the transaction, the buyer renegotiated his position four times and the discounted proceeds of the reserve account, an amount in excess of $400,000, were directly released to seller during escrow as incentive. �e commercial property lender characterised the sale process as “a bear of a transaction.”

�e portfolio sold in its entirety for $9.9 million.

Simon JonnaDirector, National Retail Group

248-415-2625simon.jonna@marcusmillichap.com

SIMON JONNA - Vice President Investments - Director, National Retail Group - Director, Net Leased Properties Group

Mailing Address: 28411 Northwestern Highway Suite 750 Southfield, Michigan 48034

Telephone: 248 415-2625 Fax: 248 352-3813

Email: sjonna@MarcusMillichap.com Website: www.marcusmillichap.com/sjonna

THE JONNA GROUP

MARCUS & MILLICHAPTHE INDUSTRY LEADER