MaryBethNWC W Lovers Lane & Linwood AvenueDallas, Texas

4438 W Lovers LnDallas, Texas 75209

T 214.396.1810VireoRE.com

Stroud ArthurPartnerStroud@VireoRE.com214.396.1811

Clay EvansPartnerClay@VireoRE.com214.396.1812

CONFIDENTIAL OFFERING MEMORANDUM

MaryBeth / 2

Property InformationLocation4719 W Lovers LnDallas, TX 75209

Size3,200 SF

PriceMake Offer

Occupancy100%

Parking11 spaces (3.52/1,000 SF)

ZoningPD-326

Tax Authority / IDDallas County / 00000361423000000

Building ExteriorBrick

RoofPitched

HVACCentral Units

Site LightingPole and building mounted lights

Parking LotGood condition, concrete

The information contained herein was obtained from sources deemed reliable; however, no guarantees, warranties or representations as to the completeness or accuracy thereof.The presentation of this real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.

MaryBeth / 3

Executive Summary

Investment Overview• 3,200 SF retail asset sitting on 0.16 acres in Dallas, Texas• Situated in major retail corridor of highly affluent, dense residential neighborhood• High-profile Park Cities demographics• Close proximity to Dallas Love Field Airport• Desirable local retail real estate near “Lovers Lane Miracle Mile,” a strip of shops and

restaurants on Lovers Lane• Income growth via rent escalations

Top Investor MarketThe Dallas-Fort Worth Metroplex (“DFW”) is the 4th largest metropolitan area in the nation, and is currently experiencing significant growth making it a mecca for real-estate investment. DFW adds another person every four minutes, according to data from the US Census Bureau. Ease of transportation and low cost of living have fueled business expansion, attracting new employers. The local economy has outpaced the national economy for roughly a decade, resetting the bar for market performance.

Ideal LocationMaryBeth (The “Property”) is strategically located along W Lovers Lane between Lemmon Avenue and Inwood Road in Dallas, Texas. The Property is situated within the “Lovers Lane Miracle Mile,” a strip made up of independently owned shops and restaurants. Some of them are family-owned and have been on Lovers Lane for decades. Heavy traffic on the thoroughfare can be attributed to the extensive residential area that the Lovers Lane retail corridor serves. The location attracts a much bigger residential area than which it is located, extending to the Park Cities (Highland Park and University Park) which have some of the highest per capita incomes in the Dallas-Fort Worth Metroplex as well as the state of Texas.

The Property is located less than three miles from Dallas Love Field Airport, and less than a mile from Inwood Village with retailers such as Trader Joe’s, Neiman Marcus Last Call, Ulta, BreadWinners Café, Saint Bernard Sports and more. Also in close proximity is Preston Center, which includes multiple retailers and office buildings. The prime location and city’s healthy business climate allow an investor to realize true value through these assets.

Demographics 1 Mile 3 Mile 5 Mile

Total Population 11,873 147,391 385,990

Daytime Population 7,903 145,438 477,229

Median HH Income $114,787 $109,411 $92,205

Median Age 38.1 35.2 34.5

MaryBeth / 4

WA XA HACHIE

DESOTO

DUNCANVILLE

CLEBURNE

FORT WORTH

G RAPEVINE

CARROLLTON

FRISC OLITTLE ELM

DENTON

MCKI NNEY

WEATHER FOR D

MINERAL W ELLS

DA LLASMESQUI TE

ENNI S

DFW AIRPORT

PROSPER

THE C OLONY

C OPPELL

FLOWERMOUND

LEWISVILLE

ALLEN

PLANO

ROANOKE

NORTHRICHLAND

HILLSLA K E WO RTH

AZLE

BURLESON

B ENBROO K

MANSFIELD

MIDLOTHIAN

C EDAR HILL

KAUFMAN

TERRELL

FORNEY

RIC HARDSON

GRANBURY

IRVING

ARLINGTON

30

30

35E20

820

35W

35W

635

75

175

121

121

288

161

360

114

12

35E

380

380

287

ROCKWALL

HEATH

GARLAND

ROW LETT

W YLI E

20

63520

205

287

67

67

80

FARMERSVI LLE

Location Map

MaryBeth

MaryBeth / 5

Aerial - East View

MaryBeth / 6

Aerial - South View

MaryBeth / 7

Survey

MaryBeth / 8

Tenant Profile

MaryBethMaryBeth is a women’s clothing and accessories store previously located in The Shops of Highland Park on Oak Lawn Avenue in Dallas, Texas. MaryBeth has been open since 1991 and offers brands such as Acrobat, Alice & Trixie, DL 1961, Lafayette 148, PJ Harlow, Trina Turk,

ZOA and more.

Size3,200 SF

Lease Expiration12/31/2023

WebsiteMaryBethBoutique.com

MaryBeth / 9

Financial Summary & Rent Roll

Analysis Summary

Analysis Start 8/1/2017

Hold Period 5 years

GLA 3,200

Occupied GLA 3,200

Purchase Summary

Price Make Offer

NOI $70,404

Building SF Land Area Lease Term Recovery Options Date Monthly Rent Annual Rent

MaryBeth 3,200 SF 7,150 SF 1/1/2019-12/31/2023

N/A - Tenant pays CAM and insurance directly; Landlord pays real estate taxes (not reimbursed by Tenant)

2, 5-year terms, FMV, 180 days written notice

Current1/1/20201/1/20211/1/20221/1/20231/1/2024 (Option 1)1/1/2029 (Option 2)

$7,000$7,200$7,400$7,600$7,800FMVFMV

$84,000$86,400$88,800$91,200$93,600FMVFMV

Total Leased 3,200 SF Total Current Annual Rent $84,000

Total Vacant -

Total Area 3,200 SF

MaryBeth / 10

Cash Flow

Effective Gross Revenue Year 1 Year 2 Year 3 Year 4 Year 5

January 2019 January 2020 January 2021 January 2022 January 2023

Income

Base Rental Revenue $84,000 $86,400 $88,800 $91,200 $93,600

Expense Reimbursement Revenue - - - - -

Total Effective Gross Revenue $84,000 $86,400 $88,800 $91,200 $93,600

Expenses

Real Estate Taxes $13,596 $14,004 $14,424 $14,857 $15,302

Total Operating Expenses $13,596 $14,004 $14,424 $14,857 $15,302

Net Operating Income $70,404 $72,396 $74,376 $76,343 $78,298

MaryBeth / 11

Lease Abstract

Tenant MaryBeth

Square Footage (Building) 3,200 SF

Land Area 7,150 SF

Specific Use The operation of a retail clothing and jewelry boutique.

Documentation Lease dated November 2016.

Rent Commencement Date January 1, 2019

Lease Expiration Date December 31, 2023

Term 5

Security Deposit $7,800

Base Rent Period Per Month Annual PSF

January 1, 2019 - December 31, 2019 $7,000.00 $84,000.00 $26.25

January 1, 2020 - December 31, 2020 $7,200.00 $86,400.00 $27.00

January 1, 2021 - December 31, 2021 $7,400.00 $88,800.00 $27.75

January 1, 2022 - December 31, 2022 $7,600.00 $91,200.00 $28.50

January 1, 2023 - December 31, 2023 $7,800.00 $93,600.00 $29.25

Remaining Renewal Options

January 1, 2024 - December 31, 2028 FMV

January 1, 2029 - December 31, 2033 FMV

Renewal Option(s) Two, 5-year renewal options with 180 days written notice.

CAM Payments Tenant shall pay all CAM payments directly.

Insurance Payments Tenant shall pay all insurance payments directly.

RE Tax Payments Landlord shall pay all real estate taxes due.

Utilities Tenant shall pay cost of all utility services for the Demised Premises.

Tenant Maintenance Tenant shall keep all portions of the Demised Premises in good, clean and habitable condition and shall at its sole cost and expense keep the Demised Premises free of insects, rodents, vermin and other pests and make all needed repairs and replacements, including replacement of cracked or broken glass.

Landlord Maintenance Landlord shall keep the foundation and roof of the Demised Premises in good repair.

MaryBeth / 12

Lease Abstract (Continued)

Executor Marybeth F. Johnston GP, LLC

Estoppel Certificate Tenant shall provide an estoppel certificate within five business days after written request from Landlord.

Before working with a real estate broker, you should know that

the duties of a broker depend on whom the broker represents. If

you are a prospective seller or landlord (owner) or a prospective

buyer or tenant (buyer), you should know that the broker who lists

the property for sale or lease is the owner’s agent. A broker who

acts as a subagent represents the owner in cooperation with the

listing broker. A broker who acts as a buyer’s agent represents the

buyer. A broker may act as an intermediary between the parties if

the parties consent in writing. A broker can assist you in locating a

property, preparing a contract or lease, or obtaining financing without

representing you. A broker is obligated by law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER:

The broker becomes the owner’s agent by entering into an agreement

with the owner, usually through a written - listing agreement, or by

agreeing to act as a subagent by accepting an offer of subagency

from the listing broker. A subagent may work in a different real estate

office. A listing broker or subagent can assist the buyer but does

not represent the buyer and must place the interests of the owner

first. The buyer should not tell the owner’s agent anything the buyer

would not want the owner to know because an owner’s agent must

disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER:

The broker becomes the buyer’s agent by entering into an agreement

to represent the buyer, usually through a written buyer representation

agreement. A buyer’s agent can assist the owner but does not

represent the owner and must place the interests of the buyer

first. The owner should not tell a buyer’s agent anything the owner

would not want the buyer to know because a buyer’s agent must

disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY:

A broker may act as an intermediary between the parties if the broker

complies with The Texas Real Estate License Act. The broker must

obtain the written consent of each party to the transaction to act as an

intermediary. The written consent must state who will pay the broker

and, in conspicuous bold or underlined print, set forth the broker’s

obligations as an intermediary. The broker is required to treat each

party honestly and fairly and to comply with The Texas Real Estate

License Act. A broker who acts as an intermediary in a transaction:

(1) shall treat all parties honestly;

(2) may not disclose that the owner will accept a price less than the

asking price unless authorized in writing to do so by the owner;

(3) may not disclose that the buyer will pay a price

greater than the price submitted in a written offer unless

authorized in writing to do so by the buyer; and

(4) may not disclose any confidential information or any

information that a party specifically instructs the broker

in writing not to disclose unless authorized in writing to

disclose the information or required to do so by The Texas

Real Estate License Act or a court order or if the information

materially relates to the condition of the property.

With the parties’ consent, a broker acting as an intermediary between

the parties may appoint a person who is licensed under The Texas Real

Estate License Act and associated with the broker to communicate

with and carry out instructions of one party and another person

who is licensed under that Act and associated with the broker to

communicate with and carry out instructions of the other party.

If you choose to have a broker represent you,

you should enter into a written agreement with the broker that

clearly establishes the broker’s obligations and your obligations.

The agreement should state how and by whom the broker will be

paid. You have the right to choose the type of representation, if

any, you wish to receive. Your payment of a fee to a broker does

not necessarily establish that the broker represents you. If you

have any questions regarding the duties and responsibilities of the

broker, you should resolve those questions before proceeding.

BUYER, SELLER, LANDLORD OR TENANT

BROKER FIRM NAME LICENSE NO. EMAIL PHONE

DATE

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

Approved by the Texas Real Estate Commission for Voluntary Use

INFORMATION ABOUT BROKERAGE SERVICES

Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

Vireo Realty Partners marketing@vireore.com466190 214.396.1810

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960.