NET LEASE INVESTMENT OFFERING. Sunmark Federal Credit Union 202 Northline Road Saratoga (Ballston Spa), NY (Albany MSA)

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1 Sunmark Federal Credit Union 202 Northline Road Saratoga (Ballston Spa), NY (Albany MSA)

2 TABLE OF CONTENTS I. Executive Summary Executive Summary Investment Highlights Property Overview II. Location Overview Site Plan Maps Photos III. Market & Tenant Overview Tenant Profile Location Overview Demographics

3 DISCLAIMER STATEMENT DISCLAIMER STATEMENT: The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

4 EXECUTIVE SUMMARY EXECUTIVE SUMMARY: The Boulder Group is pleased to exclusively market for sale a single tenant net leased Sunmark Federal Credit Union located within the Albany MSA. The property is strategically positioned at the heavily trafficked signalized intersection of two of the area s primary thoroughfares. This is a proven location for Sunmark Federal Credit Union as evidenced by the tenant exercising their first renewal option. There are five years remaining on the net lease which expires on March 31, The lease features rare annual CPI rental escalations that are a minimum of 3% per year. The 5,000 square foot Sunmark Federal Credit Union is strategically located at the signalized intersection of Northline Road and Ballston Avenue (NY State Route 50). This heavily trafficked signalized intersection experiences traffic counts in excess of 32,000 vehicles per day. Northline Road is the primary east-west thoroughfare while Ballston Avenue is a primary north-south thoroughfare. The surrounding area features average annual household incomes in excess of $86,000 within a seven mile radius of the property. The property is benefitted by its proximity to the Saratoga Performing Arts Center (SPAC) which is located three miles north of the property. SPAC is an amphitheater with a capacity of over 25,000 people and presents summer performances of classical music, jazz, pop and rock, dance, opera, as well as a Wine & Food Festival. Further contributing to the strength of this property is the Saratoga Casino and Raceway and the Saratoga Race Course which are both located approximately five miles north. Since 1863, it is the third oldest racetrack in the US and hosts several famous races including the Travers Stakes, the Alabama Stakes, the Hopeful Stakes and the Whitney Handicap. Retailers located in the immediate trade area of the Sunmark Federal Credit Union include CVS, ALDI, Napa Auto Parts, First Niagara Bank, Pizza Hut, Subway, Sunoco and Mobil. Sunmark Federal Credit Union is a full-service financial institution serving the New York s state Capital, Albany, and its surrounding communities. Sunmark Federal Credit Union currently has eleven locations in addition to 5,000 plus shared branching locations and was first founded in 1937.

5 EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS: Centrally located in New York s Capital Region Proven and successful location as evidenced by the tenant exercising their first renewal option Rare annual rental escalations that are a minimum of 3% Positioned at the hard corner of the heavily trafficked signalized intersection (32,000 VPD) of two primary thoroughfares Tenant is a community credit union making it more resistant to online banking than a traditional national commercial bank Three miles south of the Saratoga Performing Arts Center (SPAC) which is a large amphitheater with a capacity in excess of 25,000 Affluent area with annual average household incomes of $86,000 within a seven mile radius Retailers located in the immediate trade area include CVS, ALDI, Napa Auto Parts, First Niagara Bank, Pizza Hut, Subway, Sunoco and Mobil Five miles south of the Saratoga Casino and Raceway and the Saratoga Race Course

6 PROPERTY OVERVIEW PROPERTY OVERVIEW: Price: $2,342,553 Cap Rate: 6.50% Net Operating Income: $152,266 Rent Commencement Date: March 2005 Lease Expiration Date: March 31, 2020 Renewal Options: One 5-Year Rental Escalations: Annual CPI (minimum of 3%) Tenant: Sunmark Federal Credit Union Year Built: 2005 Lease Type: NN (Roof, Structure & Parking Lot) Building Size: 5,000 SF Land Size: 1.4 Acres

7 SITE PLAN SITE DRIVE THRU 50 NORTHLINE ROAD (18,500 VPD) BALLSTON AVENUE (14,000 VPD) N

8 MAPS N

9 MAPS N

10 PHOTOS

11 TENANT PROFILE TENANT PROFILE: Sunmark Federal Credit Union is a full-service financial institution serving the New York s state Capital, Albany, and its surrounding communities. Sunmark s mission is to improve the financial well-being of its customers. Because they are a not-for-profit, Sunmark can offer higher rates on savings, lower rates on loans and low- or no-cost services. Along with a wide range of financial and insurance products, Sunmark also helps its members with tools and education. Sunmark was first established in January 1937, when General Electric employees banded together to form Schenectady G.E. Turbine Department s Federal Credit Union #1884. The Credit Union opened its first stand-alone branch in The last 20 years have seen significant growth. In 1997, to reflect the broader member base, the Credit Union changed its name again with the help of its members this time, to Sunmark. In 2002, Sunmark opened its doors to serve anyone living or working in Schenectady, Albany, Saratoga, and Rensselaer counties. In 2005, Sunmark added Montgomery and Schoharie counties to its community charter Sunmark Federal Credit Union currently has eleven locations in addition to 5,000 plus shared branching locations. Company Website: Number of Locations: 11 Year Founded: 1937

12 LOCATION OVERVIEW LOCATION OVERVIEW: Ballston Spa is a village in and the county seat of Saratoga County, New York. The village lies on the border of two towns and is partly in the Town of Ballston and partly in the Town of Milton. The village is located approximately thirty miles north of Albany and six miles southwest of Saratoga Springs. Saratoga Springs is a city located in Saratoga County and is widely known as simply Saratoga. As of the 2010 US Census, the population was approximately 27,000 people. The name reflects the presence of mineral springs in the area, which has made Saratoga a popular resort destination for over 200 years. The city is just north of Albany in the heart of New York s Capital Region. Many residents commute daily to Albany via Interstate 87, Interstate 787, and Interstate 90. The business district in Saratoga increasingly contributes to the economy year round, as the city has attracted many national and international luxury-brand retailers, as well as local boutiques; it has become an upscale shopping destination for the Albany metropolitan area. The Saratoga Performing Arts Center (known by its acronym SPAC ) is a covered outdoor amphitheater located on the grounds of the Saratoga Spa State Park, with a capacity of 5,000 in reserved seating and 20,000+ on its general admission lawn area. SPAC is the summer home of the Philadelphia Orchestra and the New York City Ballet, and has hosted a weekend-long jazz festival since The city is perhaps best known for the Saratoga Race Course, which opened on August 3, The thoroughbred track is the oldest continuously-operating sporting event of any kind in the United States. The track holds a summer meet lasting six weeks, from late July to Labor Day, that attracts the top horses, jockeys, and trainers in America. Albany is the capital of New York and is the seat of Albany County that is located approximately 150 miles north of New York City. Albany constitutes the economic and cultural core of the Capital District of New York State, which comprises the Albany-Schenectady-Troy, NY Metropolitan Statistical Area, including the nearby cities and suburbs of Troy, Schenectady, and Saratoga Springs. With a Census-estimated population of 1,170,483 in 2013, the Capital District is the third most populous metropolitan region in the state and 38th in the United States.

13 DEMOGRAPHICS DEMOGRAPHIC REPORT: Population 3 Miles 5 Miles 7 Miles Total Population 21,500 47,805 74,675 Total Households 8,426 20,332 31,223 Income Median Household Income $75,887 $66,836 $70,245 Average Household Income $83,362 $80,452 $86,189

14 Randy Blankstein President Jimmy Goodman Partner Dundee Road, Suite 1801 Northbrook, IL