Hiland Dairy Foods 6460 NW Beaver Drive Johnston, IA Investment Summary. Investment Opportunity. For more information: Offering Price: $995,000

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1 Investment Opportunity Hiland Dairy Foods 6460 NW Beaver Drive Johnston, IA Investment Summary This rare investment opportunity is priced under $1M and gives an investor 9 years of guaranteed income and includes two outlot parcels. The 8,000 SF warehouse and secured paved parking area (1.6 acres) is leased to Hiland Dairy Foods for its fleet storage and transfer operations. The remaining 2 outlot parcels (15,500 SF and 20,000 SF) are not included in the Hiland Dairy Foods lease and are an opportunity for an investor s future development, sale and/or expansion. Offering Price: $995,000 Long Term NNN Lease 9 years of primary lease term remaining Two, 5-Year options with rental bump Tenant responsible for the NNN charges Strong Tenant Hiland Dairy Foods Company, LLC Operates 13 plants and 49 distribution centers Long company history, founded 1937 LEASED NORTH LOT SOUTH LOT Outlot Parcels 2 Outlot parcels are included in the offering price Excellent visibility with frontage along NW Beaver Drive Ideal for investor s future development and/or sale North Lot - 15,500 SF South Lot - 20,000 SF For more information: Christopher Stafford, CCIM cstafford@

2 The Offering Hiland Dairy Foods 6460 NW Beaver Drive Johnston, IA Offering Price: $995,000 Leased Premises/Parcel Tenant Trade Name...Hiland Dairy Foods Lease Guarantor...Hiland Dairy Foods Company, LLC Lease Type...NNN Leased Parcel Size Acres Leased Building Size...8,000 SF Term Remaining on Lease...9 Years Options...Two, 5-Year Options Annualized Operating Data Monthly Rent Annual Rent Rent/SF Current - 11/30/ $4,500...$54,000...$6.75 Option 1...$4,800...$57,600...$7.20 Option 2...$5,200...$62,400...$7.80 Outlot Parcels (Not included in the lease to Hiland Dairy Foods) North Outlot: 15,500 Sqaure Feet South Outlot: 20,000 Square Feet Ideal for future development, outside storage (fenced), paving, expansion sale, etc. See attached concept site plan, subject to City of Johnston review/ approval

3 Property Overview Site Description Property Address Parcel Size Acres Zoning M-1, Light Industrial Utilities Electric, Gas, Water, Sewer Topography Flat Paving 6 Reinforced concrete lot and drive (New in 2016) Fence Security gate and fence (New in 2016) Building Description Gross Leasable Area Ground Floor: Mezzanine: 8,000 Sqaure Feet (3,200 SF Office, 4,800 SF Warehouse 3,200 Sqaure Feet (unfinished) Year Built 1989 Foundation Concrete slab, no basement Exterior Walls Pre-Engineered steel building w/steel wall panels Ceiling Height Office 8-0, Warehouse 16-0 clear Heating Gas, forced air in office, suspended radiant in warehouse Air Conditioning Central air in office, none in warehouse Power 800 Amps, 3-Phase Lighting Flourescent Restrooms 2 Sprinklers None Dock Doors None Overhead Doors 2 Drive-in

4 X X X X X X X X X X X 26' 6' 18' EX CONCRETE SIDEWALK MB Y X 50' BUILDING SETBACK LINE Aerial & Concept Plan NORTH LOT: 15,500 SF BUILDING: 8,000 SF SOUTH LOT: 20,000 SF PRELIMINARY: NOT FOR CONSTRUCTION M:\LAND PROJECTS 2016\160265\DWG\C2 LAYOUT.DWG 2/13/2017 2:12:27 PM GRAPHIC SCALE Proposed Site Plan EX 6' CHAINLINK FENCE X X X X X X X X ST ST ST ST ST SAN SAN SAN 50' SAN SAN SAN 50' BUILDING SETBACK LINE 6.91' POSSIBLE ENCROACHMENT APPROXIMATE LOCATION OF UNDERGROUND ELECTRICAL EASEMENT BK 11248, PG 1145 EX GRAVEL 9' 9' EX BUILDING AREA=8,045 SF EX BOLLARDS G G ST ST ST ST ST ST ST ST EX BOLLARDS SAN 8" EX CONCRETE ST ST ST ST ST ST ST ST ST ST ST ST ST ST ST SAN 8" SAN 8" SAN 8" SAN 8" SAN 8" SAN 8" SAN 8" 30 TONS CLASS E RIP RAP OVER ENGINEERING FABRIC CATV CATV CATV CATV CATV CATV CATV CATV CATV CATV CATV CATV CATV APPROXIMATE LOCATION OF UNDERGROUND ELECTRICAL EASEMENT BK 6196, PG 100 BUILDING SETBACK LINE EX 6' CHAINLINK FENCE LOT 1 (3.78 ACRES) BUILDING SETBACK LINE LOT 2 (2.4 ACRES) G G G G G G G G G ST 15" ST 15" ST 15" 50' G G G G G G G G G G G G F/O F/O F/O F/O F/O F/O F/O F/O F/O F/O 4' W 12" W12" W12" W12" W12" ST 36" ST 60" ST 60" ST 60" ST 60" SAN 8" ST 60" ST 60" ST 60" ST 60" ST 60" ST 60" G NW BEAVER DRIVE (PUBLIC STREET - CONCRETE SURFACE) SAN 8" CATV CATV CATV CATV CATV CATV CATV CATV CATV CATV CATV CATV CATV SAN 18" SAN 24" ST 8" SAN 8" Bishop Engineering 6460 NW BEAVER DRIVE "Planning Your Successful Development" REFERENCE NUMBER: DRAWN BY: MDG CHECKED BY: REVISION DATE: PROJECT NUMBER: SHEET NUMBER: JOHNSTON, IOWA C th Street Des Moines, Iowa Phone: (515) Fax: (515) ST SUBMITTAL ND SUBMITTAL RD SUBMITTAL TH SUBMITTAL TH SUBMITTAL Civil Engineering & Land Surveying Established 1959

5 Location Overview NW 70TH AVENUE NW 26TH STREET MERLE HAY ROAD NW 86TH STREET Traffic Counts NW BEAVER DR 7,600 VPD NW 62ND AVE 4,530 VPD NW 66TH AVE 7,000 VPD

6 Tenant Overview Hiland Dairy Hiland Dairy Foods Company, LLC processes and distributes farm-fresh dairy foods and other beverages to customers throughout the Midwest. It offers butter, buttermilk/ half and half/whipping cream, cheese, cottage cheese, dips, fruit drinks, ice cream, iced coffee, juice, lactose free milk, lemonade, milk, milk alternatives, organic milk, red diamond tea, school milk, seasonal products, sour cream, and yogurt. The company was founded in 1937 and is headquartered in Springfield, Missouri with manufacturing plants in Dallas, Houston, and Waco, Texas; Fayetteville, Fort Smith, and Little Rock, Arkansas; Chandler and Norman, Oklahoma; Kansas City and Springfield, Missouri; Norfolk and Omaha, Nebraska; Wichita, Kansas; and Des Moines, Iowa. Hiland Dairy Foods Company, LLC operates as a subsidiary of Prairie Farms Dairy, Inc. and Dairy Farmers of America, Inc. TENANT TRADE NAME Hiland Dairy Foods LEGAL COMPANY NAME Hiland Dairy Foods Company, LLC OWNERSHIP Private STOCK SYMBOL N/A NO. OF LOCATIONS +/-62 HEADQUARTERED Springfield, Missouri WEBSITE YEAR FOUNDED 1937

7 City Overview Johnston, IA Located in the northwest section of the greater Des Moines area, Johnston is at the crossroads of I-35 and I-80. It is just 20 minutes from the downtown business and financial center, as well as the Des Moines International Airport. Johnston has grown to a population of greater than 20,000. More than half of the households in Johnston have incomes of greater than $75,000 and more than half of the adults over 25 hold a Bachelor s Degree or higher. Johnston is home to corporate leaders including DuPont Pioneer, John Deere Financial, the Iowa Bankers Association, ITS (Shazam) and Agricredit. Community resources include ChildServe, Iowa Public Television (IPTV) and Youth Homes of Mid-America. Johnston is also the base of operations for the Iowa National Guard at Camp Dodge. Johnston was placed on MONEY Magazine s 2015 Best Places list (#16) for the second time notably because of its award-winning schools, which consistently tout some of the highest levels of student proficiency and high school graduation in the state; in 2010, President Obama s National Teacher of the Year was a Johnston Senior High School English teacher. Adjacent to Saylorville Lake and bisected by Beaver Creek, Johnston also boasts major green space and over 35 miles of trails. Residents can camp, picnic, and ride bikes along the Saylorville Dam. The city has also recently begun the $5.4 million development of a new local park to include an 8-acre fishing lake and pier, playgrounds, and a concert lawn. Population 1 mile 3 miles 5 miles 2022 Projection 3,674 33, , ,300 30, , ,813 27, , ,536 20,678 98,105 Households 1 mile 3 miles 5 miles 2022 Projection 1,371 12,472 57, ,235 11,529 53, ,056 10,533 47, ,858 40,044 Population Growth 1 miles 3 miles 5 miles Percent Change: 2017 to % 1.67% 1.61% Percent Change: 2010 to % 1.36% 1.80% Average Income 1 miles 3 miles 5 miles 2022 Projection $115,706 $1115,768 $98, $102,516 $104,419 $88,741 NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.