Sports Authority Master Lease

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LTV (Loan to Value)	0.00%	Current NOI
Interest Rate	0.000%	Cap Rate	0.000%
Fixed Term	9.25 Years (approx) Years	Land Area
Amortization	Years	Lease Type
Loan Amount		Property Type
Payment		Property Lease
Building Size		Remaining Terms

Location Description

The Property is exceptionally well located within the 310K SF Foothills Park Place shopping center on the northeast corner of Ray Road and 48th Street. This center is currently 99% occupied and additional tenants include JCPenney, Goodwill, Sherwin-Williams, Chase, UPS, Wendy's, FedEx, Mattress Firm and Jack in the Box. The Property is positioned in the major retail trade area of metropolitan Phoenix that includes over 16.5 million square feet of existing retail space, with additional developments currently under construction or planned. There are no less than 17 distinct shopping centers within approximately 15 miles of the Property. The area immediately surrounding the Property has seen tremendous growth recently, ranking among the fastest-growing municipalities in the country. It is a prominent region that has and is continuing to attract both residents and businesses alike. The Phoenix MSA is the 14th largest in the nation with approximately 4.2 million people, averaging annual growth of 4% for the last 40 years. The economy of the MSA has followed a similar trend as GDP grew roughly 4.5% from 2012 to 2013 with job growth that is currently outpacing the nation.

Highlights

Absolute NNN Lease Structure – Master leased Property has zero landlord responsibility through the base lease term and all option periods9.25 Years of Remaining Lease Term –Property features 9.25 years of secured term remainingRental Increases Throughout Base Term and Renewal Options – Sports Authority’s lease features a $1.00 PSF rental increase on February 1, 2019, followed by 10% rental increases every five yearsNationally Known Tenant with Profitable Corporate Performance – Forbes currently ranks Sports Authority 131^st in its list of America’s Largest Private Companies with an estimated sales revenue of $3.5 billion in 2013. The company currently holds a B3/Stable Corporate Family rating from Moody’s, equivalent to a BB- rating from S&PLower Occupancy Cost with Support of Sublease – Occupancy cost of Property is lowered by way of Fresh & EasyExceptional Demographics – Demographics within 5 miles of Property include a population of over 183k and an average HH income of over $80kStrategic Location in Dominant Retail Trade Area –Property is positioned in the major retail trade area of metropolitan Phoenix with over 16.5 million SF of existing retail space and additional developments currently under construction or planned

NNN Loans Funding

Triple-Net Lease Financing arranged by NNNLenders. Offering Triple Net NNN Property Loans.