NET LEASED INVESTMENT OFFERING

TCF Bank Ground Lease (Investment Grade) 6501 Richfield Parkway Richfield, MN 55423 (Minneapolis MSA)

www.bouldergroup.com

TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING

TABLE OF CONTENTS

1) 2) 3) 4) 5) 6) 7) 8) 9) 10)

Confidentiality & Disclaimer Executive Summary Property Overview Site Plan Aerial Map Tenant Profile Demographic Comparison Report Location Overview Contact Information

www.bouldergroup.com

CONFIDENTIALITY & DISCLAIMER

NET LEASED INVESTMENT OFFERING

CONFIDENTIALITY CONFIDENTIALITY & DISCLAIMER

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.

www.bouldergroup.com

EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING

EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant TCF Bank ground lease located within the Minneapolis MSA. TCF Bank is an investment grade company with a Standard & Poors Rating of BBB-. The TCF Bank is located on a 1.01 acre parcel as an outlot to a Super Target and Home Depot anchored shopping center. The lease features 10% rental escalations every five years with the next escalation in 2017. This is a proven location for TCF bank as evidenced by its well above average deposits for a bank branch. The property is located in Cedar Point Commons Shopping Center, a 350,000 square foot retail center anchored by Super Target and Home Depot. Cedar Point Commons is located off Highway 77 (66,000 VPD) at the intersection of 66th Street and Richfield Parkway. 66th Street has a full access interchange with Highway 77 less than mile from the property. Constant traffic is abundant along Highway 77 as the Mall of America is located approximately two miles south of Cedar Point Commons along Highway 77. Additionally, there is a IKEA adjacent to the Mall of America. The property is located in a dense area with over 300,000 people living within five miles of the property. There are high barriers to entry in the area as the land directly across Highway 77 is used for the Minneapolis/St. Paul International Airport. TCF Banks original ground lease term was for 20 years with four 5-year renewal options and the lease expires in October 2027. The net operating income increases by 10% every five years during the primary term as well as the option periods. TCF Bank is a publicly traded company on the New York Stock Exchange (TCB), with a market capitalization of $2 billion. TCF Bank is an investment grade rated company with a Standard & Poors rating of BBB-. INVESTMENT HIGHLIGHTS Investment grade rated company (S&P: BBB-) Located within the Minneapolis MSA Long term ground lease Superior bank branch deposits No landlord responsibilities 10% rental escalations every five years (Next escalation in 2017) Located as an outparcel to a Super Target and Home Depot Located off Highway 77 Interchange (66,000 VPD) Two miles from the Mall of America and an IKEA Over 300,000 people living within five miles of the property

www.bouldergroup.com

PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING

PROPERTY OVERVIEW

Price: Cap Rate: Rent Schedule:

$2,946,428 5.60% NOI $ 165,000 $ 181,500 $ 199,650 $ 219,615 $ 241,577 $ 265,734 $ 292,308 Four 5-Year 10% each option period October 16, 2007 October 31, 2027 TCF Bank BBB- (Standard and Poors) 2007 Ground Lease NNN* 4,500 SF 1.01 Acres Escalation Date 11/1/2017 11/1/2022 11/1/2027 11/1/2032 11/1/2037 11/1/2042

(Option 1) (Option 2) (Option 3) (Option 4)

Renewal Options: Renewal Rate: Lease Commencement Date: Lease Expiration Date: Tenant: Credit Rating: Year Built Lease Type: Rentable Square Feet: Land Size:

* Should structural repairs be required during the last three years of the Tenant's primary term or any renewal term, Tenant shall not be required to make such structural repairs should Tenant deliver to Landlord a written waiver of all rights to renew the Lease beyond the term in effect.

www.bouldergroup.com

SITE PLAN
NET LEASED INVESTMENT OFFERING

PLAN SITE PLAN

www.bouldergroup.com

AERIAL
NET LEASED INVESTMENT OFFERING

AERIAL

www.bouldergroup.com

MAP
NET LEASED INVESTMENT OFFERING

MAP

www.bouldergroup.com

TENANT PROFILE
NET LEASED INVESTMENT OFFERING

TENANT PROFILE

TCF is a Wayzata, Minnesotabased national bank holding company with $17.8 billion in total assets as of March 31, 2012. TCF has over 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona, and South Dakota, providing retail and commercial banking services. TCF also has business lines in commercial leasing and equipment finance, including leverage lending in all 50 states, commercial inventory finance business in the U.S. and Canada, and indirect auto finance business in over 30 states. They are the 11th largest VISA Classic debit card issuer in the U.S. by sales volume.

Website: Number of Locations: Stock Symbol: Standard & Poors Rating: Market Capitalization:

www.tcfbank.com 430+ TCB : NYSE BBB$2 billion

www.bouldergroup.com

DEMOGRAPHIC COMPARISON REPORT

NET LEASED INVESTMENT OFFERING

DEMOGRAPHIC COMPARISON REPORT

Population Total Population Total Households Income Median Household Income Average Household Income

3-mi. 98,609 41,304

5-mi 303,180 129,123

7-mi 586,475 254,769

$53,756 $69,602

$51,126 $70,132

$50,403 $72,149

www.bouldergroup.com

LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING

LOCATION OVERVIEW
Richfield is located in Hennepin County, Minnesota, approximately 8 miles south of Downtown Minneapolis. Richfield has a population of over 35,000. Best Buy is the citys largest employer and its corporate headquarters is located in Richfield. Other largest employers in Richfield include US Bank, Richfield Public Schools and Target. Hennepin County is the most populous county in the state of Minnesota. One in every five Minnesotans lives in Hennepin County. At the time of the 2010 U.S. Census, Hennepin County had a population of 1,152,425. www.ci.richfield.mn.us

MinneapolisMinneapolis-St. Paul is the most populous urban area in Minnesota is nicknamed the Twin Cities. Minneapolis is the most populous city in Minnesota and St. Paul serves as the states capital. The Minneapolis St. Paul MSA is the 16th largest in the United Minneapolis-St. States with a total population of 3,317,308. The Minneapolis Minneapolis-St. Paul area is home to 19 of the 20 Fortune 500 headquarters (Target, 3M and General Mills) located within (Target, Minnesota and has the second largest economy in the Midwest only behind Chicago. The largest companies in Minneapolis include Target, US Bank, Xcel Energy, Ameriprise Financial and Thrivent Financial. www.ci.minneapolis.mn.us

www.bouldergroup.com

CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING

CONTACT INFORMATION

666 Dundee Road Suite 1801 Northbrook, IL 60062

Randy Blankstein President 847.562.0003 rblank@bouldergroup.com

Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com

www.bouldergroup.com