New Construction Absolute NNN 15-Year Lease Glendale Valley Blvd Flinton, PA Offering Memorandum

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1 New Construction Absolute NNN 15-Year Lease 2535 Glendale Valley Blvd Flinton, PA Offering Memorandum

2 INVESTMENT OVERVIEW PennTexVentures, LLC is pleased to exclusively present to market the newly constructed, Dollar General store #18986, located in Flinton, PA; Central Pennsylvania. The market is 15 miles North of Altoona, PA and 35 miles Southwest of State College, PA. The Tenant has a 15-year initial term absolute NNN Lease. Rent commenced in August Dollar General (DG) then has 3 extension options of 5 years each, with 10% rent bumps in each option. The lease is backed by a corporate guaranty from Dollar General Corporation, who is investment grade rated BBB by Standard and Poor s and did $23.5 Billion in annual sales in DG is #123 on the 2017 Fortune 500 list. The immediate market has a population of 5,667 people in 2,331 households with a median household income of $41,679 within a 6-mile radius. These demographic counts do not include the hundreds of summer homes and people generated by the Glendale Lake complex. Dollar General (#18986) Flinton, PA (Central PA State) 15 miles N of Altoona, PA 35 miles SW of State College, PA 15-Year Guaranteed NNN Lease. Rent commenced in August Five Year Option Periods with 10% rent bumps in each Option Period Brand new construction Flinton Altoona, PA Corporate guaranteed by Dollar General Corporation Investment Grade Rated BBB by Standard and Poor s 8,000 people within 8 miles 2,600 VPD State College, PA 2

3 MARKET SUMMARY/ DEMOGRAPHICS Mile 6-Mile 8-Mile Population 2,379 5,667 7,997 Households 996 2,331 3, Median HH Income $39,292 $41,679 $43,765 Total ,898 4,223 5,833 3

4 PROPERTY SUMMARY Brand new construction Fills a need in an underserved market Daytime population of 5,800 Ideal demographics for Dollar General Sees 2,600 VPD A D D R E S S 2535 Glendale Valley Blvd, Flinton, PA S TO R E N U M B E R #18986 A P P ROX I M AT E AC R E AG E B U I L D I N G S I Z E 1.5 ac. 9,100 sf Y E A R B U I LT 2018 E X T E R I O R V E H I C L E S P E R DAY S I G N AG E PA R K I N G Representative Photo I N G R E S S / E G R E S S Steel structure with masonry front 2,600 VPD 1 pylon sign & 1 building sign 31 spaces, including 2 ADA compliant stalls Full turn ingress and egress to Robinson St. via shared driveway. 4

5 FINANCIAL OVERVIEW Representative Photo P R I C E $1,375,644 C A P R AT E 6.75% L E A S E T Y P E Triple-Net (NNN) G RO S S N O I $92,856 P R I C E P E R S F $ L A N D L O R D R E S P O N S I B I L I T I E S T E N A N T R E S P O N S I B I L I T I E S Initial payment of real estate taxes; reimbursable by Tenant. Cost of utilities, real estate taxes, and insurance. Maintenance and repair of roof, interior/exterior, landscaping and parking lot. 5

6 LEASE SUMMARY R E N T C O M M E N C E M E N T DAT E O P T I O N S TO R E N E W L E A S E G UA R A N TO R August 12, Five-Year Options with 10% Rent Increases in Each Option Dollar General Corporation A N N UA L R E N T M O N T H LY P E R S F Years 1-15 $92,856 $7,738 $10.20 Option Years $102, $8, $11.22 Option Years $112, $9, $12.34 Option Years $123, $10, $

7 TENANT OVERVIEW Dollar General (NYSE: DG) headquartered in Goodlettsville, TN is the largest small-box discount retailer store in the nation. Dollar General aims to make shopping for everyday needs simpler and hassle-free by offering a focused assortment of the most popular national and private brands in general merchandise, cosmetics, toiletries, beverages and groceries at competitive prices in small and convenient locations. A Fortune 500 company (#123), Dollar General is investment grade rated BBB by Standard and Poor s. With $23.5 billion in annual sales in 2017, DG saw a $1.54 billion profit s same-store sales marked Dollar General s 28 th consecutive year of same-store sales growth. 15,000+ Stores 130,000+ Team Members Over 75 Years in operation $23.5 Billion in Annual Sales in 2017 Rated BBB by Standard & Poor Number 123 in Fortune 500 (June 2017) 27.1% increase in profit & 6.8% increase in sales from 2016 to 2017 $1.54 Billion in Profit in

8 MARKET OVERVIEW Situated in South-Central Pennsylvania, Flinton is located in Reade Township, Northern Cambria County and within the Altoona MSA. The borough of Northern Cambria was incorporated on January 1, It was formed from the merger of two smaller municipalities, Barnesboro and Spangler. The area was first settled by Europeans in the early-to-middle 19 th century. The presence of the West Branch of the Susquehanna River allowed loggers to move their harvest downstream. The area began to grow in the 1890s, when mining of the extensive bituminous coal fields in the area became the dominant industry. Railroads were built to export the coal, and the town flourished with the influx of money. Today, recreational tourism within the surrounding Allegheny Mountains supports the economic base in this area. The mountain range provides tremendous opportunities for hiking, mountain biking, wildlife observation and camping. The Coal Country Campground offers 100 campsites and Glendale Yearound contains over 200 homes and vacation homes. Visitors travel to the Prince Gallitzin State Park for 1,635-acre Glendale Lake to swim, boat and fish. The state park also maintains 437 campsites and 10 cabins. Located within a 25 minute drive of Flinton is the principal city of Altoona MSA, Altoona, PA. Like many Rust Belt cities, the economic downturn of the railroad lead the city into revitalization efforts which have been proven to be successful. The city has attracted new jobs in the manufacturing, healthcare, and recreational fields. These efforts have diversified the city s economy, and revitalized major sections of the city, creating new housing, educational, and professional opportunities. The city is home to the Altoona Curve baseball team of the Double A Eastern League, which is the affiliate of the Major League Baseball team Pittsburgh Pirates. Prominent landmarks include the Horseshoe Curve, the Railroaders Memorial Museum, the Juniata Shops of the Altoona Works, the Mishler theatre, the Cathedral of the Blessed Sacrament, and the Jaffa Shrine Center. Sheetz, a well known regional gas, convenience and fast casual concept, was founded and is currently headquartered in Altoona, PA. Their headquarters employs over 100 people. Sheetz maintains over 500 stores 8

9 MARKET OVERVIEW Flinton is 35 miles southwest of State College and 80 miles northeast of Pittsburgh. Major economic drivers are agriculture, lumber and coal and gas industries. The local public school district, Glendale School District, educates 866 students and employs 131 faculty and staff annually. Flinton has many campgrounds attracting people to the area including Glendale Yearround with over 200 homes and vacation homes, Prince Gallitzin State Park with 437 campsites and 10 cabins, along with Coal Country Campgrounds with 100 campsites. Flinton acts as a bedroom community for Altoona. Altoona thrives on an economy based on recreation, medicine, industry and education. Named after the railroad, the minor league baseball team Altoona Curve hosts games for over 290,000 spectators each year at PNG Field. UPMC Altoona hospital engages 4,300 employees, and the Station Medical Center, a UPMC Outpatient Facility, offers services in 8 medical departments. Additionally, the regional Veterans Affairs Medical Center has 710 employees. Penn State Altoona enrolls over 3,400 students and employs 604 faculty and staff members. Business Name Glendale School District PNG Field UPMC Altoona Hospital Veterans Affairs Medical Center Cambria Heights School District Sheetz 360 Number of Employees 866 students, 131 faculty & staff 290,000 spectators each year 4,300 employees 710 employees 1,473 students, 179 faculty & staff Contact: Ashley Weinman (724) (x104) Ashley.Weinman@Penntexventures.com 9

10 Dollar General 2535 Glendale Valley Blvd Flinton, PA Contact: Ashley E. Weinman License: RS ext Broker of Record: Timothy H. Weinman PA: RB L