OFFERING MEMORANDUM TRADE NET LEASE WITH CONFIDENCE NEW YORK CHICAGO TAMPA SAN FRANCISCO 3 EAST MAIN STREET, MOUNT KISCO, NY HOMEGOODS

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1 OFFERING MEMORANDUM TRADE NET LEASE WITH CONFIDENCE NEW YORK CHICAGO TAMPA SAN FRANCISCO 3 EAST MAIN STREET, MOUNT KISCO, NY HOMEGOODS

2 DISCLAIMER All materials and information received or derived from B Plus E NY LLC, its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither B Plus E NY LLC, its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party B Plus E NY LLC will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. B Plus E NY LLC makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. B Plus E NY LLC does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by B Plus E NY LLC in compliance with all applicable fair housing and equal opportunity laws. Cover Photo By JJBers is licensed by CC BY 2.0 ( 2 HOMEGOODS MT. KISCO, NY

3 TABLE OF CONTENTS EXECUTIVE SUMMARY...04 INVESTMENT HIGHLIGHTS...05 TENANT OVERVIEW...06 LEASE ANALYSIS...07 LOCATION OVERVIEW...08 SURROUNDING TENANT MAP...9 AREA MAP...10 PROPERTY RENDERING...11 Camille Renshaw CEO & Co-Founder NY License No. # PROPERTY PHOTOS...12 DEMOGRAPHICS...13 Spencer Henderson Associate HOMEGOODS MT. KISCO, NY

4 EXECUTIVE SUMMARY OFFERING PRICE $7,450,000 CAP RATE 5.50% HOMEGOODS ADDRESS 3 East Main Street, Mount Kisco, NY PPSF $ NOI $409,761 BUILDING SIZE LAND AC +/- 24,834 SF +/ AC PARKING +/- 50 PROPERTY TYPE STATUS Retail Under construction DELIVERY DATE Estimated May 15, HOMEGOODS MT. KISCO, NY

5 INVESTMENT HIGHLIGHTS HIGHLIGHTS NEWLY RENOVATED The estimated delivery date of this subject property is May 15, The property will feature a new roof, HVAC, lighting, parking lot, and façade. NEW LONG-TERM LEASE This property features a brand new 10-year NN lease with 4, 5-year renewal options. SUBSIDARY OF TJX COMPANIES HomeGoods is owned by TJX Companies, Inc. which is comprised of T.J. Maxx, Marshalls, and HomeGoods. Independently, HomeGoods did over $4 billion in sales in 2017 which represents a 12% increase from the prior year. There are currently 716 HomeGoods locations, and the company plans on opening 85 stores in fiscal NEW YORK CITY SUBURB This location is less than one hour commute to New York City from the adjacent Mount Kisco commuter rail. This train station also connects to +/- 22 different locations. RARE ONSITE PARKING In the downtown Mt. Kisco area, it is very rare that retailers have their own designated parking lot. This subject property will have +/- 50 parking spots specifically for HomeGoods customers. Additionally, there is a large public parking lot located adjacent to the subject property which adds +/- 160 parking spots which could serve as overflow parking. AFFLUENT DEMOGRAPHICS The median household income in this Mount Kisco area is well over $145,000. DENSE POPULATION There are over 236,120 residents living within a 10-mile radius of the subject property. STRONG RETAIL CORRIDOR Reputable retailers in the area: Gap, Rite Aid, Starbucks, Target, Chase Bank, Banana Republic, and Tesla. PROTOTYPE OF STORE S INTERIOR 5 HOMEGOODS MT. KISCO, NY

6 LEASE ANALYSIS HOMEGOODS TENANT NAME BUILDING SIZE HOMEGOODS +/- 24,834 SF LEASE COMMENCEMENT Estimated July 2019 LEASE EXPIRATION July 31, 2029 ORIGINAL LEASE TERM REMAINING LEASE TERM RENT INCREASE RENEWAL OPTIONS LEASE TYPE LANDLORD RESPONSIBILITIES 10 Years 10 Years 6% After First 5 Yrs; In Options Therafter 4; 5-YEAR NN Roof, Structure, Parking RENT SCHEDULE HOMEGOODS TERM ANNUAL INCREASES YEAR 1-5 YEAR 5-10 OPTION 1 OPTION 2 OPTION 3 OPTION 4 $409,761 $434,595 $459,429 $484,263 $533,931 $583,599 N/A 6.06% 5.71% 5.41% 10.26% 9.30% 6 HOMEGOODS MT. KISCO, NY

7 TENANT OVERVIEW HOMEGOODS OVERVIEW: HomeGoods is a leading off-price retailer of name brand furniture, linens, cooking products, art, season decorations and many more home accessories. Shoppers can find brand name and designer merchandise for 20-60% below full-price retailers regular prices. Since the first HomeGoods opened in 1992, the company has expanded to over 667 locations with plans to expand even more. The company opened 90 new locations in 2017 and are on track to open 85 locations by the end of The plan to expand their footprint is a testament to how strong this retailer is as many retailers are trying to reduce their footprint. HomeGoods strives to bring new merchandise to stores to keep customers coming in, the company was recently featured in a USA Today article for winning the retail game. The retailer is a favorite among young shoppers as they never know what they will find, and the store is known for low prices. As a result of being loved by their customers and keeping up with their expectations, HomeGoods saw net sales increase by 16% in fiscal Additionally, the stores saw a 4% increase in customer traffic in fiscal TJX OVERVIEW: HomeGoods operates as a subsidiary of TJX Companies, Inc. which is mostly comprised of T.J. Maxx, Marshalls, and HomeGoods. As a result of synergistic operations between these companies, TJX is able to leverage expertise, share information, and develop talent across all brands. The TJX Companies has an international footprint with over 4,000 stores and the company has plans to continue to grow. All of the retailers focus on a treasure hunt shopping experience which has led to continued success over the years. This large footprint awards the Company with substantial buying power in their global relationships with vendors. In fiscal 2018, TJX Companies reported net sales in excess of $35 billion, the HomeGoods section alone had $5.1 billion in net sales; which represents 14% of TJX Companies Inc. total net sales. $ 716 Locations in 45 States Over $5.1 B In Sales In Fiscal 2018 OPEN Founded in 1992 TJX COMPANIES SUMMARY CREDIT RATING A+ FOUNDED # OF LOCATIONS +/- 4,000 16% TOTAL REVENUE $35.8B 12% 27 STOCK STICKER MARKET CAP NYSE: TJX $54.5B 7% 5% 37 HEADQUARTERS FRAMINGHAM, MA WEBSITE 7 HOMEGOODS MT. KISCO, NY

8 LOCATION OVERVIEW MOUNT KISCO The thriving Westchester County town of Mount Kisco is located at the halfway point between the Hudson River and the Connecticut border, just 36 miles north of New York City. Westchester County is the second most populous county in the state of New York home to 980,000 people and the headquarters of Mastercard, PepsiCo, and IBM. Its proximity to NYC makes for a hassle-free commute either by car or by train. Mount Kisco offers residents and visitors great variety, with a bustling commercial district full of national retailers as well as a charming downtown known for its boutiques, fine dining and entertainment. Additionally, Mount Kisco is home to the Northern Westchester Hospital which is highly regarded for its cancer treatment center and ER. The hospital employs over 1,000 people and draws hundreds more to the area every day. WESTCHESTER COUNTY NEW YORK CITY MOUNT KISCO MT. KISCO, NY 8 HOMEGOODS MT. KISCO, NY

9 AREA MAP PUBLIC PARKING (TRAIN STATION) MAIN ST CARPENTER AVE N BEDFORD RD MOUNT KISCO TRAIN STATION MAIN ST MAPLE AVE PUBLIC PARKING (TRAIN STATION) S MORGER AVE 9 HOMEGOODS MT. KISCO, NY

10 AREA MAP (CONT.) NORTHERN WESTCHESTER HOSPITAL MOUNT KISCO ELEMENTARY SCHOOL ST. FRANCIS OF ASSISI PARISH MOUNT KISCO VILLAGE HALL MOUNT KISCO PUBLIC LIBRARY S MORGER AVE MOUNT KISCO TRAIN STATION MAPLE AVE MAIN ST N MORGER AVE PUBLIC PARKING (TRAIN STATION) 10 HOMEGOODS MT. KISCO, NY

11 PROPERTY RENDERINGS EXISTING BUILDING - MAIN STREET VIEW RENDERING - MAIN STREET VIEW EXISTING BUILDING - MAIN STREET VIEW RENDERING - MAIN STREET VIEW 11 HOMEGOODS MT. KISCO, NY

12 PROPERTY PHOTOS SOUTHEAST VIEW NORTHEAST VIEW SOUTHERN VIEW SOUTHWEST VIEW 12 HOMEGOODS MT. KISCO, NY

13 DEMOGRAPHICS POPULATION 3 MILES 5 MILES 10 MILES TOTAL POPULATION 23,854 55, , POPULATION 24,161 55, ,511 POP GROWTH % 1.44% 1.01% AVERAGE AGE HOUSEHOLDS 3 MILES 5 MILES 10 MILES 2018 TOTAL HH 8,465 18,708 81,423 HH GROWTH % 1.45% 1.00% MEDIAN HH INCOME $109,685 $145,741 $130,702 AVG HH SIZE AVG HH VEHICLES HOUSING 3 MILES 5 MILES 10 MILES MEDIAN HOME VALUE $683,743 $781,002 $618,879 MEDIAN YEAR BUILT HOMEGOODS MT. KISCO, NY

14 TRADE NET LEASE WITH CONFIDENCE New York Chicago Tampa San Francisco New York 261 Madison Ave, 9th Floor, New York, NY Tampa 2303 N. Florida Ave. Tampa, FL Chicago 980 N. Michigan Ave. Chicago, IL San Francisco 303 Sacramento St., 4th Floor San Francisco, CA HOMEGOODS MT. KISCO, NY