M A T T H E W S ™ 1

34087 PLYMOUTH ROAD - LIVONIA, MI | OFFERING MEMORANDUM

CONCENTRA URGENT CARE

PROPERTY VIDEO

https://www.youtube.com/watch?v=XMB2UJFNc2g&feature=youtu.behttps://www.youtube.com/watch?v=XMB2UJFNc2g&feature=youtu.be

2 CONCENTRA L I V O N I A , M I

TABLE OF CONTENTS03 EXECUTIVE OVERVIEW

06 FINANCIAL OVERVIEW

10 TENANT OVERVIEW

11 AREA OVERVIEW

LISTED BY:

MICHAEL MORENOS E N I O R A S S O C I A T E

D I R : ( 9 4 9 ) 4 3 2 - 4 5 1 1M O B : ( 8 1 8 ) 5 2 2 - 4 4 9 7

m i c h a e l . m o r e n o @ m a t t h e w s . c o m

L I C N O : 0 1 9 8 2 9 4 3 ( C A )

RAHUL CHHAJEDS E N I O R A S S O C I A T E

D I R : ( 9 4 9 ) 4 3 2 - 4 5 1 3M O B : ( 8 1 8 ) 4 3 4 - 1 1 0 6

r a h u l . c h h a j e d @ m a t t h e w s . c o m

L I C N O : 0 1 9 8 6 2 9 9 ( C A )

BROKER OF RECORDK Y L E M A T T H E W S

L I C N O : 6 5 0 5 3 9 9 4 9 5 ( M I )

ANDREW FAGUNDOA S S O C I A T E

D I R : ( 3 1 0 ) 9 5 5 - 5 8 3 4M O B : ( 8 1 8 ) 4 8 4 - 1 6 5 8

a n d r e w. f a g u n d o @ m a t t h e w s . c o m

L I C N O : 0 2 0 6 24 9 1 ( C A )

M A T T H E W S ™ 3

C O N C E N T R A 34087 Plymouth RoadL I V O N I A , M I 4 8 1 5 0

EXECUTIVE OVERVIEW

$207,556N O I

7.75%C A P R A T E

$2,678,145 L I S T P R I C E

PROPERTY » Extremely Passive Investment – This single tenant healthcare investment features a

landlord friendly lease structure that is ideal for out of state investors » E-Commerce Resistant Tenant – Healthcare operators aren’t prone to the same

competition that many retail tenants face » Long Term Investment – Just under 7 years remaining on the current lease term with

Two (2) Five (5) year options to extend » Annual Rental Increases – 2% annual increases provide a potential investor a great

hedge against inflation » Below Market Rent – Tenant is paying below market rent, offering a new landlord

the ability to negotiate a much higher rent when the option period comes due » High Volume Clinic – This is a fully equipped facility with digital x-ray machines and

a strong referral base » Hub Concentra Facility that is divided into 3 specialized spaces

» Front Portion: Occupational Health / Urgent Care Clinic » Second Portion: Specialty Clinic – Orthopedic Physicians, Neurologists, etc. » Third Portion: Large physical therapy center

LOCATION » Great Visibility – Property is located on the main thoroughfare, Plymouth Rd, which

sees on average 45,000 vehicles per day » Highly Visited Location – Subject property is strategically situated in the immediate

proximity of a strong lineup of retailers, industrial operators, and residences » Ideal Single Tenant Format - This is the only freestanding urgent care located in the

city of Livonia » Strong Demographics – Population includes around 253,000 residents within a

5-mile radius with an average household income of $84,167

TENANT » Nation’s Premier Operator - Concentra is the country’s largest urgent care and

occupational health operator with over 500 centers in 44 states » Market Share Leader - On average more than 30,000 patients visit Concentra’s

medical centers each day. According to the Bureau of Labor Statistics, 1 out of every 7 occupational injuries in the U.S. is treated by Concentra

INVESTMENT HIGHLIGHTS

CONCENTRA LEASE ABSTRACTTENANT CONCENTRA URGENT CARE

ADDRESS 34087 Plymouth Road | Livonia, MI 48150

SIZE ±16,375 SF

DATE OF LEASE 3/16/1995

SECOND AMENDMENT COMMENCEMENT 1/1/2016

LEASE EXPIRATION 12/31/2025

LEASE TERM 10 Years

LEASE TERM REMAINING ±6 Years, 8 Months

RENEWAL OPTIONS Two, 5-Year Options

CURRENT RENT $212,056/Year$17,671.35/Month

INSURANCE $4,500

NOI $207,556

RENT INCREASES 2% Annual

OPTION RENT Market Rent

REAL ESTATE TAXES Tenant Pays

CAM REIMBURSEMENT

Tenant shall pay for all costs andexpenses incurred by Landlord by reason of the operation and management of the Property, the Building and the Premises, including, but not limited to (i) trash removal; (ii) landscaping; (iii) all other services which are used in or upon the Building; and (iv) maintenance of the parking lot, sidewalks, alleys and any and all access drives, including the removal of snow and ice therefrom. The foregoing expenses are hereinafter individually and collectively referred to as "Common Area Charges".

REPAIRS BY TENANT

Tenant will make all interior repairs and replacements, including, but not limited to, light bulbs, interior walls, interior utility, plumbing and sewer lines, doors, windows, floor covering and other improvements constructed by or for Tenant. Tenant will be responsible at its sole cost and expense to maintain and replace as required the HV AC systems, maintain and replace as required the landscaping, repair driveways, sidewalks, parking areas and exterior lighting (but not replacements to the parking area and sidewalks that would be considered capital expenses under GAP), snow removal, perform roof maintenance (but not replacement of the roof that would be considered a capital expense under GAP), maintain and replace all exterior glass and doors, paint exterior of building as required, and maintain the interior of the Premises including all repairs and upgrades.

REPAIRS BY LANDLORD Roof/Structural repairs to the Building including, but not limited to, the foundation, exterior walls and any load bearing interior walls of the Premises, all necessary repairs up to the utility, plumbing and sewer lines up to the point they connect with the Premises

INSURANCE Tenant pays All Risk property insurance, sprinkler damage, vandalism, malicious mischief, demolition, rental income insurance, comprehensive general liability insurance, reimburses Landlord for Building Insurance

LANDLORD INSURANCE Landlord shall be responsible for ·insuring the Property for landlord's risk and for damage to the Building and Premises which are not the responsibility of Tenant. ($4,500 – Not reimbursed)

UTILITIES Tenant PaysESTOPPEL CERTIFICATION Tenant has 20 days to respond to Landlord’s request

M A T T H E W S ™ 5

6 CONCENTRA L I V O N I A , M I

PARCEL MAP

FINANCIAL OVERVIEWCONCENTRA LEASE SUMMARY

LEASE TYPE NN

TYPE OF OWNERSHIP Fee Simple

LEASE GUARANTOR Corporate

ROOF AND STRUCTURE Landlord Responsible

ORIGINAL LEASE TERM (YEARS) ±6 Years 8 Months

CURRENT COMMENCMENT DATE 1/1/16

LEASE EXPIRATION DATE 12/31/25

INCREASES 2% Annual Increases

OPTIONS Two, 5-Years

DATE OF ORIGINAL LEASE 3/16/1995

ANNUALIZED OPERATING DATA

MONTHLY RENT ANNUAL RENT RPSF

Concentra Urgent Care $17,671.35 $212,056.20 $12.95

Insurance -$4,500.00

NOI $207,556.20

±16,375 SF G L A

±2.19 ACL O T S I Z E

1985Y E A R B U I L T

C O N C E N T R A 34087 Plymouth RoadL I V O N I A , M I 4 8 1 5 0

M A T T H E W S ™ 7

CONCENTRA LEASE SUMMARYLEASE TYPE NN

TYPE OF OWNERSHIP Fee Simple

LEASE GUARANTOR Corporate

ROOF AND STRUCTURE Landlord Responsible

ORIGINAL LEASE TERM (YEARS) ±6 Years 8 Months

CURRENT COMMENCMENT DATE 1/1/16

LEASE EXPIRATION DATE 12/31/25

INCREASES 2% Annual Increases

OPTIONS Two, 5-Years

DATE OF ORIGINAL LEASE 3/16/1995

8 CONCENTRA L I V O N I A , M I

PLYMOUTH

ROAD ±4

5,000 VPD

SUBJECT PROPERTY

THOMAS'S FAMILY DINING

JURGEN'S AUTO REPAIR

OHM ADVISORSSOCIAL SECURITY ADMINISTRATION

M A T T H E W S ™ 9

SUBJECT PROPERTY

PLYMO

UTH RO

AD ±45,000 VPD

STARK ROADZERBO'S HEALTH

FOODSSENATE CONEY

ISLAND

RALPH THAYER AUTOMOTIVE

FORD ATNPC AUTOMATIC

TRANSMISSION NEW PRODUCT CENTER

CANTON PLYMOUTH

10 CONCENTRA L I V O N I A , M I

Concentra Inc., is a national health care company founded in 1979 in Amarillo, Texas. The company is headquartered in Addison, Texas and operates more than 500 Urgent care centers in 44 states. Concentra has more than 900 affiliated primary care physicians and 600 physical therapists. Concentra also provides a range of health improvement solutions to employers, and operates 154 employer onsite medical facilities.

The company’s primary focuses are occupational health, physical therapy, health and wellness and urgent care.

» HEADQUARTERSADDISON, TX

» COMPANY NAMECONCENTRA

» INDUSTRYHEALTHCARE

M A T T H E W S ™ 11

AREA OVERVIEW

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DETROIT, MI

DEMOGRAPHICS

Livonia is located 20 miles west of Detroit, Michigan's largest city. Located in the western suburbs of Metro Detroit, Livonia is centered halfway between Downtown Detroit and Ann Arbor with great hotels, fantastic shopping, and dining options.

Just 30 minutes away from the museums, professional sporting events, and casinos. Another popular choice, The Henry Ford, which includes Greenfield Village and the Ford Rouge Factory Tour.

LIVONIA, MIPOPULATION 1-MILE 3-MILE 5-MILE

2010 Census 6,592 93,671 261,687

2019 Estimate 6,383 90,137 253,118

2024 Projection 6,305 89,000 250,326

INCOME 1-MILE 3-MILE 5-MILE

2019 Average Household Income $89,655 $83,449 $84,167

HOUSEHOLDS 1-MILE 3-MILE 5-MILE

2010 Census 2,644 39,666 108,837

2019 Estimate 2,618 39,050 107,674

2024 Projection 2,605 38,866 107,323

12 CONCENTRA L I V O N I A , M I

CONFIDENTIALITY AGREEMENT & DISCLAIMERThis Offering Memorandum contains select information pertaining to the business and affairs of Concentra located in 34087 Plymouth Rd | Livonia, MI 48150 (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1. The Offering Memorandum and its contents are confidential;2. You will hold it and treat it in the strictest of confidence; and3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any

fashion or manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

M A T T H E W S ™ 13

LISTED BY:

34087 PLYMOUTH RD - LIVONIA, MI OFFERING MEMORANDUM

MICHAEL MORENOS E N I O R A S S O C I A T E

D I R : ( 9 4 9 ) 4 3 2 - 4 5 1 1M O B : ( 8 1 8 ) 5 2 2 - 4 4 9 7

m i c h a e l . m o r e n o @ m a t t h e w s . c o m

L I C N O : 0 1 9 8 2 9 4 3 ( C A )

RAHUL CHHAJEDS E N I O R A S S O C I A T E

D I R : ( 9 4 9 ) 4 3 2 - 4 5 1 3M O B : ( 8 1 8 ) 4 3 4 - 1 1 0 6

r a h u l . c h h a j e d @ m a t t h e w s . c o m

L I C N O : 0 1 9 8 6 2 9 9 ( C A )

BROKER OF RECORDK Y L E M A T T H E W S

L I C N O : 6 5 0 5 3 9 9 4 9 5 ( M I )

ANDREW FAGUNDOA S S O C I A T E

D I R : ( 3 1 0 ) 9 5 5 - 5 8 3 4M O B : ( 8 1 8 ) 4 8 4 - 1 6 5 8

a n d r e w. f a g u n d o @ m a t t h e w s . c o m

L I C N O : 0 2 0 6 24 9 1 ( C A )

CONCENTRA URGENT CARE