ROSS & STAPLES 4043 RIVERDALE ROAD OGDEN, UTAH 84405 - BEN BROWN - Mountain West Commercial Real Estate

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ROSS & STAPLES 4043 RIVERDALE ROAD OGDEN, UTAH 84405 - BEN BROWN - Mountain West Commercial Real Estate
ROSS & STAPLES        BEN BROWN             CHAD MOORE            BRANDON GOODMAN
                      bbrown@mtnwest.com    cmoore@mtnwest.com
4043 RIVERDALE ROAD   direct 801.456.8802   direct 801.456.8801
                                                                  bgoodman@mtnwest.com
                                                                  direct 801.746.4708
OGDEN, UTAH 84405     View Profile          View Profile          View Profile
ROSS & STAPLES 4043 RIVERDALE ROAD OGDEN, UTAH 84405 - BEN BROWN - Mountain West Commercial Real Estate
TABLE
OF CONTENTS

          INVESTMENT
    4     HIGHLIGHTS

    6     INVESTMENT
          SUMMARY
          PROPERTY
    7     FEATURES
 8        TT MAP
16        TENANT PROFILES
17        DEMOGRAPHICS

    ROSS & STAPLES
2   Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
ROSS & STAPLES 4043 RIVERDALE ROAD OGDEN, UTAH 84405 - BEN BROWN - Mountain West Commercial Real Estate
ROSS &
STAPLES                CONFIDENTIALITY AND DISCLOSURE
4043 RIVERDALE ROAD    Mountain West Commercial Real Estate has been retained on an exclusive basis to market the property
OGDEN, UTAH 84405      described as 4043 Riverdale Road, Ogden, Utah 84405. Broker has been authorized by seller of the
                       property to prepare and distribute the enclosed information for the purpose of soliciting offers to
                       purchase from interested parties. More detailed financial, title and tenant lease information may be
                       made available upon request following the mutual execution of a letter of intent or contract to purchase
PREPARED BY            between the Seller and the prospective purchaser. You are invited to review this opportunity and make an
                       offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations
BEN BROWN              with you, you will be asked to provide financial references. The eventual purchaser will be chosen based
bbrown@mtnwest.com
                       upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller
direct 801.456.8802
View Profile           deems appropriate.

                       The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors
CHAD MOORE             for the acquisition of the Property. The Material is not to be copied and /or used for any other purpose or
cmoore@mtnwest.com     made available to any other person without the express written consent of Broker or Seller. The Material
direct 801.456.8801
                       does not purport to be all-inclusive or to contain all of the information that a prospective buyer may
View Profile
                       require. The information contained in the material has been obtained from the Seller and other sources
                       and has not been verified by the Seller or its affiliates, agents, representatives, employees, parents,
BRANDON GOODMAN        subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation
bgoodman@mtnwest.com   or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any
direct 801.746.4708
View Profile           existing or available financing, and must independently confirm the accuracy of the projections contained
                       in the pro forma.

                       Seller reserves the right, for any reason, to withdraw the Property from the Market. Seller has no
                       obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property
                       unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms
                       acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to
                       have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect
                       thereto.

                       Property walk-throughs are to be conducted by appointment only. Contact Broker for additional
                       information.

                                                                            Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com   3
ROSS & STAPLES 4043 RIVERDALE ROAD OGDEN, UTAH 84405 - BEN BROWN - Mountain West Commercial Real Estate
INVESTMENT HIGHLIGHTS

                                                                        •   Ross exercised their next 5-year option early to
                                                                            extend through January 2026 for $12.50/sf.
                                                                        •   One of the top performing Ross locations in the
                                                                            market.
                                                                        •   Staples has experienced a big increase in sales
                                                                            because of COVID-19 with people working from
                                                                            home and home schooling.
                                                                        •   The property sits on 6.94 acres of land and provides
                                                                            a nice covered land play for future redevelopment.
                                                                        •   HIGH TRAFFIC COUNTS
                                                                            The subject property is located on one of the
                                                                            busieststreets in Utah called Riverdale Road with
                                                                            54,132 ADT (2018).
                                                                        •   GOOD DEMOGRAPHICS
                                                                            There are 84,392 people within a 3-mile radius,
                                                                            with an average HH income of $56,716 within the
                                                                            same range. Riverdale is working on plans to add
                                                                            hundreds of new single-family homes, townhomes,
                                                                            and apartment units over the next few years.
                                                                        •   STRONG RETAIL TRADE AREA
                                                                            Riverdale is arguably the best retail corridor in
                                                                            both Weber & Davis Counties. Riverdale Road
                                                                            extends from I-15 to Hwy 89 and is approximately
                                                                            4 miles long, and has some of the largest retailers
                                                                            including, but not limited to: Walmart, Sam’s
                                                                            Club, Target, At Home, Sears, RCWilley, Best Buy,
                                                                            Ross, Staples, Home Depot, Lowes, Sportsman’s
                                                                            Warehouse, TJMaxx, JCPenney, Costco, etc.

     ROSS & STAPLES
 4   Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
ROSS & STAPLES 4043 RIVERDALE ROAD OGDEN, UTAH 84405 - BEN BROWN - Mountain West Commercial Real Estate
ROSS & STAPLES
5   Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
ROSS & STAPLES 4043 RIVERDALE ROAD OGDEN, UTAH 84405 - BEN BROWN - Mountain West Commercial Real Estate
INVESTMENT SUMMARY

    PRICING ANALYSIS                                                                                                NEW DEBT ASSUMPTIONS

     INCOME:
PRICING     ANALYSIS                                                                                           NEWDownDEBTPayment
                                                                                                                             ASSUMPTIONS                             35.00%                  $3,013,500
     Gross Potential Income                                                     $603,549                            Loan Amount                                      65.00%                  $5,596,500
INCOME:
     NNN Income                                                                 $122,382                       Down   Payment
                                                                                                                    Interest Rate                                35.00%                 $3,013,5003.85%
GrossGROSS
       Potential  Income
              INCOME                                                       $603,549
                                                                                $725,931                       LoanLoan
                                                                                                                     Amount
                                                                                                                          Term                                   65.00%                 $5,596,500
                                                                                                                                                                                                 10-Years
NNNVacancy
      Income                                                               $122,382Actual                      Interest Rate
                                                                                                                    Amortization  Term (Years)                                                3.85% 25
GROSSEFFECTIVE
         INCOME GROSS INCOME                                               $725,931
                                                                                $725,931                       LoanFunding
                                                                                                                     Term Month                                                            10-Years
                                                                                                                                                                                                1/1/2020
Vacancy                                                                        Actual                          Amortization   Term (Years)
                                                                                                                    Debt Coverage    Ratio (DCR)                                                  25 1.66
EFFECTIVE
     EXPENSES  GROSS INCOME                                                $725,931                            Funding  Month
                                                                                                                    Monthly   Debt Service                                                 1/1/2020
                                                                                                                                                                                                ($29,079)
     Building Maintenance                                                         ($1,200)        1200         DebtAnnual
                                                                                                                     Coverage
                                                                                                                            DebtRatio (DCR)
                                                                                                                                  Service                                                       1.66
                                                                                                                                                                                              ($348,946)
EXPENSES
     Parking Lot                                                                 ($22,539)    22538.7          Monthly Debt Service                                                       ($29,079)
Building   Maintenance
     Grounds                                                                     ($17,400) 1200
                                                                             ($1,200)           17400          Annual  Debt Service
                                                                                                                    RETURN     METRICS - YEAR 1                                          ($348,946)
Parking
     SteamLot Cleaning                                                            ($4,000)22538.74000
                                                                            ($22,539)                               Cash Flow Before After Debt Service                                          $231,985
Grounds
     Snow Removal                                                                ($10,394) 17400
                                                                            ($17,400)         10394.1          RETURN
                                                                                                                    CashMETRICS     - YEAR- 1Year 1
                                                                                                                          On Cash Return                                                             7.70%
Steam   Cleaning
     Roof   Repair                                                           ($4,000) $0 4000        0         Cash Flow Before After Debt Service                                          $231,985
SnowJanitorial
       Removal                                                                    ($6,080)10394.16080
                                                                            ($10,394)                          CashLEASING
                                                                                                                     On Cash Return    - Year 1
                                                                                                                               & COMMISSIONS                                                   7.70%
RoofSecurity/Fire
      Repair        Protection                                                     $0
                                                                                  ($2,400)      02400                 Tenant Name         TI's PSF    Total TI's     Broker Commissions          Total
Janitorial
     HVAC                                                                    ($6,080) $0 6080        0         LEASING & COMMISSIONS
Security/Fire
     ElectricityProtection                                                        ($5,860) 24005860
                                                                             ($2,400)                            Tenant Name         TI's PSF     Total TI's     Broker Commissions         Total
HVAC Water & Sewer                                                                 $0
                                                                                  ($4,026)       0
                                                                                               4025.93
Electricity
     Storm Drain                                                             ($5,860)
                                                                                  ($3,000) 58603000
Water   & Sewer
     Refuse                                                                  ($4,026) $0 4025.93     0
Storm   Drain
     Real  Estate Taxes                                                      ($3,000)
                                                                                 ($46,401) 3000
                                                                                              46401.32                   Totals       $       -       $       -             $0                   $0
Refuse
     Insurance                                                                     $0
                                                                                 ($21,700)       0
                                                                                                21700
Real TOTAL
     Estate Taxes
               EXPENSES                                                     ($46,401)
                                                                               ($145,000)46401.32
                                                                                             145000.03              Totals        $       -       $       -            $0                   $0
Insurance                                                                   ($21,700)       21700
TOTALNET  EXPENSES
            OPERATING INCOME                                              ($145,000)
                                                                                $580,931145000.03
     Cap Rate                                                                       6.75%
NET PURCHASE
      OPERATINGPRICE INCOME                                                $580,931
                                                                              $8,610,000
Cap Rate
     Price PSF                                                                 6.75%
                                                                                   $139.97
PURCHASE PRICE                                                           $8,610,000
Price PSF                                                                    $139.97
                                                                                                 NNN INCOME                           LEASE TERMS WITH OPTIONS & ESCALATIONS
       SUITE #            TENANT NAME                 SQ. FT.   % GLA        LEASE TYPE
                                                                                               PSF     ANNUAL           TERM            START   EXPIRES       PSF     MONTHLY                 ANNUAL
      124-0100 Staples                                26,057    42.36%           NNN          $2.03     $52,928     Contract           4/11/97   4/30/24     $8.75     $19,000                $227,999
                                                                                                                    Option 1            5/1/24   4/30/29     $14.85    $32,246
                                                                                                                    Option 2            5/1/29   4/30/34     $16.34    $35,481
      123-0110 Ross Dress For Less                    30,044    48.84%           NNN          $2.31      $69,454    Contract          10/15/00   1/31/21    $12.50     $31,296                $375,550
                                                                                                                    Rent Bump           2/1/21   1/31/26     $12.50    $31,296
                                                                                                                    Option 1            2/1/26   1/31/31     $13.25    $33,174
                 Vacant (decommissioned)              5,414
                                            TOTALS    61,515      100.00%                     $1.99      $122,382                                                  $9.81         $50,296      $603,549
                                           Occupied   61,515      100.00%
                                             Vacant      0          0.00%
                                 Physical Occupancy   56,101       91.20%
                                   Physical Vacancy    5,414        8.80%
ROSS & STAPLES 4043 RIVERDALE ROAD OGDEN, UTAH 84405 - BEN BROWN - Mountain West Commercial Real Estate
PROPERTY FEATURES & LAND OVERVIEW

 PROPERTY FEATURES

Location                                      Parking
4043 Riverdale Road                           The subject property provides 305
Ogden, Utah 84405                             total parking stalls, which equates

                                                                                                       W
                                              to 5.49 spaces per 1,000 SF parking

                                                                                                   250
Site
Located on the northwest side of              ration, with cross easement parking
Riverdale Road, north of RC Willey            Frontage & Access
and Bed Bath & Beyond, southwest              The subject property has 348 feet
of the intersection of Riverdale Road         of frontage along Riverdale Road.
and Wall Ave/40th Street                      The shared access points to the

                                                                                     PACIFIC AVE
Land Area                                     subject property are three (3) along
Consists of 6.94 Acres or 302,306 SF          Riverdale Road and one (1) along
of land area                                  the backside of the property along
                                              Pacific Avenue.
Building Area
The subject property consists                 Traffic Counts:                                              6.94 AC
of 1 retail building totaling                 Riverdale Road: 54,132 ADT (2018)
approximately 55,470 SF of gross              Year Built:
leasable area                                 2010
                                              Zoning:
                                              CP-3

 LAND OVERVIEW

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           ROSS & STAPLES
     7     Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
ROSS & STAPLES 4043 RIVERDALE ROAD OGDEN, UTAH 84405 - BEN BROWN - Mountain West Commercial Real Estate
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                                                                                                      36TH ST                                                                                                   11,614 ADT                            36TH ST                                                  18,650 ADT                                                                   16,258 ADT
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ROSS & STAPLES 4043 RIVERDALE ROAD OGDEN, UTAH 84405 - BEN BROWN - Mountain West Commercial Real Estate
AREA OVERVIEW

WEBER STATE UNIVERSITY
The subject property is located within 2.4 miles of Weber State University, with an
enrollment of 26,681 students and 820 administrative staff. Weber State University
offers more than 250 certificate and degree programs in the performing arts, visual
arts, humanities, science, applied science and technology, business and economics,
education, social and behavioral sciences, and the health professions. Master’s degrees
are offered in accounting, athletic training, business administration (MBA), professional
communication, computer engineering, criminal justice, education, English, radiologic
sciences, health administration, nursing, and taxation.
NEAR MAJOR SKI RESORT
Riverdale is 24-miles away from the famous Snowbasin Resort. The resort opened back
in 1939 as part of an effort by the city of Ogden to restore the Wheeler Creek watershed
and is one of the oldest continually operating ski resorts in the United States. During
the 2002 Winter Olympics, Snowbasin hosted the downhill, combined (downhill and
slalom), and super-G events.
PROXIMITY TO HILL AIR FORCE BASE
Hill Air Force Base is the 6th largest employer in Utah, excluding the state government
and higher education employers. There are 27,365 total personnel within Hill Air Force
Base, including 5,636 military, 5,591 military dependents and 16,138 civilians. Hill Air
Force Base has an annual federal payroll of $1.34 billion, and annual expenditures of
$710 million. Annually, Hill Air Force Base creates approximately $1.29 billion in jobs
created with a total of $3.34 billion in total annual economic impact.
OGDEN HINKLEY AIRPORT
Ogden-Hinckley Airport (OGD) is a municipal airport with commercial flights, general
aviation service, and affordable, high-quality space for other aviation and aerospace
uses. Ogden-Hinckley Airport hosts operations for several aerospace and defense
companies, including Northrop Grumman, Williams International, and Boresight.
Ogden is home to a growing aerospace and advanced manufacturing cluster, and our
airport shares airspace with nearby Hill Air Force Base. Existing hangars and build-to-
suit options at the Kemp Ogden Gateway Center make Ogden-Hinckley Airport an
ideal location for aviation and aerospace companies.

                                                                                            Photo Source: visitogden.com
ROSS & STAPLES 4043 RIVERDALE ROAD OGDEN, UTAH 84405 - BEN BROWN - Mountain West Commercial Real Estate
SOUTH WEST FACING

                    TT MAP
NORTH FACING

               TT MAP
2020 UTAH OUTLOOK
“The Utah economy continues to prosper. Like the nation, the state’s decade-
long economic expansion became the longest on record in 2019. Every major
industrial sector expanded over the last year, adding 45,600 new jobs to the
economy. The annual employment growth rate of 3.0 percent in 2019 was at the
state’s long-term average and among the strongest in the nation.
Fueled by record-level residential and near-record commercial activity,
Utah’s construction sector added 4,500 jobs and posted the state’s fastest
pace of job growth in 2019, 4.3 percent. The boom in the multifamily sector,
primarily apartment construction, drove a 10.9 percent increase in the value
of all permit-authorized residential construction to $5.7 billion. The value of
permitauthorized nonresidential construction grew 6.2 percent in 2019 to $2.3
billion, the highest posting since 2016’s $2.7 billion.
Low unemployment and rising wages for Utahns, along with an increase in
travel and tourism activity, supported strong job growth of 4.1 percent in the
state’s leisure and hospitality sector over the past year. Above-average snowfall
and an extended 2018-2019 ski season led to a record $1.4 billion in skier
spending. With increased marketing emphasis on places to visit in addition to
the Mighty 5® national parks, Utah’s state parks hosted a record number of
visitors in 2019.
Utah’s population grew by 53,600 to reach 3.2 million in 2019. About 47 percent
of this growth came from net in-migration as people moved to the state to take
advantage of economic opportunity. Natural increase continued to generate
the majority of growth, 53 percent, despite births dropping to the lowest level
since 2000.
The consensus forecast predicts increasing uncertainty and moderation, but
still healthy growth for the Utah economy. Internal risks in 2020 and beyond
include a tight labor market, increasing costs, housing affordability, declining
fertility rates, and air quality. Externally, a late U.S. business cycle, trade
tensions, and geopolitical instability add risk to the forecast.
State tax cuts and infrastructure spending present an upside risk for the 2020
Utah economy. Favorable demographics, a supportive business climate, and
economic diversity will continue to advantage the economy. As long as major
risks to the national expansion are not realized, Utah’s economy will once again
be one of the top performing economies in the nation in 2020.”
Source: 2020 Economic Report to the Governor by the Utah Economic Council

               ROSS & STAPLES
        12     Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
$4,000
   $4,000

                                                                                                               44

 $2,000
   $2,000

                              HACHMAN INDEX OF ECONOMIC DIVERSITY                                              22

     $- $-
                                                                                                               00

             2000
             2000
             2001
             2001
             2002
             2002
             2003
             2003
             2004
             2004
             2005
             2005
             2006
             2006
             2007
             2007
             2008
             2008
             2009
             2009
             2010
             2010
             2011
             2011
             2012
             2012
             2013
             2013
             2014
             2014
             2015
             2015
             2016
             2016
             2017
             2017
             2018
             2018
             2019
             2019
                  According to the Hachman Index, a measure of economic  2009      diversity,
                                                                           2009 2010
                                                                                   2010   2011     Utah
                                                                                            2011 2012      and
                                                                                                            2013 Missouri
                                                                                                    2012 2013     2014
                                                                                                                    2014 2015  led2016
                                                                                                                            2015     the 2017
                                                                                                                                     2016  nation
                                                                                                                                            2017 2018in economic
                                                                                                                                                    2018 2019*
                                                                                                                                                           2019*    diversity
                  in 2018 with scores of 97.1 and 96.8, respectively,*2019
                                                                      based     on   gross     domestic       product      by   industry.    A  higher    score,
                                                                           skier days will be released in June 2020. Skier days include season that begins with
                                                                                                                                                                 closer to
                  100, indicates more economic diversity. A timely year
                                                                     example       of  the    advantage        of
                                                                         shown (e.g. 2018 = 2018-2019 ski season).diversity      is the  impact     of  globalization  and
                  tariffs on state economies. Those states with employment concentrations in auto, textiles, or steel production experienced
                  severe job losses. In contrast, Utah’s economic diversity provided added protection from the negative impacts of tariffs.
Hachman Index of Economic
                  Source:    Diversity
                      2020 Economic Report
                                                                                 WA
                      to the Governor by                                         85.1
  According to the Hachman    Index, a
                      the Utah Economic Council                                                         MT                                                                                                 OR
                                                                                                                                                                                                           ME
                                                                                                                         ND                                                                                91.0
measure of economic diversity, Utah                                      OR
                                                                          OR
                                                                                                        83.2             49.0           MN
                                                                                                                                         MN
                                                                                                                                         94.0
                                                                                                                                                                                                                      VT
                                                                                                                                                                                                                      V T 89.4
                                                                                                                                        94.0
                                                                                                                                                                                                                       NH 94.5
                                                                                                                                                                                                                          94.5
and Missouri led the nation in economic                                  93.4
                                                                          93.4                ID                                                    WI
                                                                                             82.3                                                   WI                                          NY                     MA89.4
                                                                                                                                                                                                                      MA   89.4
                                                                                                                         SD                        91.5
diversity in 2018 with scores of 97.1 and                                                                  WY            60.7                          91.5
                                                                                                                                                                 MI
                                                                                                                                                                  MI
                                                                                                                                                                 91.2
                                                                                                                                                                                                79.1                     89.1
                                                                                                                                                                                                                      RI 89.1
                                                                                                           32.0
96.8, respectively, based on gross domestic                                                                               NE
                                                                                                                                           IA
                                                                                                                                                                  91.2                    PA
                                                                                                                                                                                         PA                          CT
                                                                                                                                                                                                                     C T 91.0
                                                                                                                                                                                                                         91.0
                                                                                                                                          75.8                                           95.7
                                                                                                                                                                                         95.7                     NJ 93.8
product by industry. A higher score, closer                                           NV
                                                                                      67.5       UT
                                                                                                 UT
                                                                                                                          73.0                           IL
                                                                                                                                                          IL     IN
                                                                                                                                                                          OH
                                                                                                                                                                           OH
                                                                                                                                                                          93.6
                                                                                                                                                                          93.6
                                                                                                 97.1                                                   95.5
                                                                                                                                                         95.5   76.5                                          MD88.3
                                                                                                                                                                                                              MD  88.3
to 100, indicates more economic diversity.                                                      97.1            COCO
                                                                                                                 93.2      KS
                                                                                                                                                                                  WV
                                                                                                                                                                                 64.1     VA                DE
                                                                                                                                                                                                             DE56.0
                                                                                                                                                                                                                56.0
                                                                         CA
                                                                          CA                                    93.2         KS             MO
                                                                                                                                            MO                         KY
A timely example of the advantage of                                     92.8
                                                                         92.8
                                                                                                                           92.4
                                                                                                                            92.4            96.8
                                                                                                                                            96.8                       89.6
                                                                                                                                                                                          89.1            DC 48.9
                                                                                                                                                                                        NCNC
diversity is the impact of globalization                                                       AZ
                                                                                              AZ
                                                                                                                                                                 TN                     93.5
                                                                                                                                                                                          93.5
                                                                                              96.0                               OK                             92.1
                                                                                                                                                                92.1                  SC
and tariffs on state economies. Those                                                        96.0
                                                                                                               NM                47.7           AR
                                                                                                                                                88.1
                                                                                                                                                                                      SC
                                                                                                                                                                                     91.0
                                                                                                               60.1                                                                   91.0
states with employment concentrations                                                                                                                    MS      AL           GA
                                                                                                                                                                               GA
                                                                                                                                                                              95.9
                                                                                                                                                                                                  Hachman   IndexScore
                                                                                                                                                                                                  Hachman Index   Score
                                                                                                                                                         86.3   90.6
                                                                                                                                                                AL            95.9                   95.0
                                                                                                                                                                                                     95.0 ++(Most
                                                                                                                                                                                                             (MostDiverse)
                                                                                                                                                                                                                   Diverse)
in auto, textiles, or steel production                                                                                     TX                                   90.6                                   90.0-94.9
                                                                                                                                                                                                       90.0 - 94.9
                                                                                                                                                LA
                                                                                                                           73.6
experienced severe job losses. In contrast,                                                                                                     83.9                                 FL                85.0-89.9
                                                                                                                                                                                                       85.0 - 89.9
                                                                               AK                                                                                                    92.0
Utah’s economic diversity provided added                                       33.8                                                                                                    FL              75.0-84.9
                                                                                                                                                                                                       75.0 - 84.9
                                                                                                                                                                                      92.0             < 75.0
                                                                                                                                                                                                         75.0(Least
                                                                                                                                                                                                              (Least  Diverse)
                                                                                                                                                                                                                    Diverse)
protection from the negative impacts of
                                                                                                                  HI
                                                                                                                   HI
tariffs.                                                                                                          72.2

Note: All 2019 data is estimated.

                               UTAH RANKINGS
Sources: Kem C. Gardner Policy Institute; U.S. Bureau of Labor Statistics; U.S. Bureau of Economic Analysis; U.S. National Park Service; Ski Utah; Utah Economic Council; U.S. Census Bureau;
and Utah Population Committee.
                               Demographic                               State Rank3          Value      Year               Economic                                                    State Rank3       Value            Period
                               Population Growth Rate                    3rd                  1.9%       2018               Employment Change1,2,4                                      2nd               2.7%        Highlights
                                                                                                                                                                                                                         August -19 Annual
                               Total Fertility Rate                      2nd                  2.12       2017               Unemployment Rate1,2                                        8th               2.8%             August -19
                               Life Expectancy                           10th                 80.2       2010               Median Household Income                                     7th               $77,067          2018
                               Median Age                                1st                  31.0       2018               Per Capita Personal Income                                  41st              $45,340          2018
                               Household Size                            1st                  3.13       2017               Total Personal Income (% Change)                            14th              4.4%             Q1-19 Annual
                               Social Indicators                                                             Notes:
                                                                                                                    1. Rankings are based on the most recent data available for all states; may
                               Poverty Rate                      6th           9.7%      2017                          differ from other data.
                               Educational Attainment                                                               2. Job growth and unemployment rates are based on seasonally adjusted data
                                                                                                                       from the Bureau of Labor Statistics and may differ from estimates published
                               Persons 25+ w/high school degree  10th          92.1%     2017                          by other sources.
                               Persons 25+ w/high school degree  12th          34.6%     2017                       3. Rank is most favorable to least favorable.
                                                                                                                    4. Employment change based on nonfarm employment totals.
                              Source: 2019 September Economic Summary by the Kem C. Gardner Policy Institute at the University of Utah

                                                                                                                                            Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com                                 13
drove a 10.9 percent increase in the value of all permit-authorized
 residential construction to $5.7 billion. The value of permit-
 authorized nonresidential construction grew 6.2 percent in 2019 to
 2019
 $2.3 billion, JOB      GROWTH
                  the highest    posting since 2016’s $2.7 billion.
    Low unemployment and rising wages for Utahns, along with an
 increase
 “Utah’s      in travel
          economy        and tourism
                     continued           activity,
                                to grow in         supported
                                           2019. While            strong
                                                        national gains    job
                                                                       were     growth
                                                                             modest,   Utah remained among
 of 4.1 percent in the state’s leisure and hospitality sector over the double the national
 the fastest-growing   states. The state posted  yearover-year  job growth at  3.0%, near
 increase of 1.6%. This corresponds to more than 45,600 jobs added to Utah’s economy. In 2019 the
 past year. Above-average snowfall and an extended 2018-2019 ski
 Economic Development Corporation of Utah and the Utah Governor’s Office of Economic Development
     Nevada
        Nevada                                                                     3.3%
                                                                                     3.3%
 season
 worked     led to atorecord
          together     support$1.4   billion intoskier
                                42 companies           spending.
                                                  relocate or expandWith   increased
                                                                      in Utah,  adding over 9,500 jobs to the
 marketing
 state’s   Utah emphasis
         economy
         Utah                on places
                    and retaining         to visit
                                  over 3,500       in addition
                                             additional           to the
                                                         jobs. These      Mighty
                                                                     companies
                                                                            3.0%
                                                                              3.0%   5® capital investments in
                                                                                  made
 Utah totaling more than $500 million.”
     Arizona
       Arizona
       Nevada                                                        2.6%
                                                                       2.6%                 3.3%
 Source: 2020 Economic Report to the Governor by the Utah Economic Council
     Florida
       Florida
   States   with Strongest Job Growth, 2018–2019
          Utah                                2.5%
 STATES WITH THE STRONGEST JOB GROWTH 2018-2019
                                                2.5%                                 3.0%

 Washington
   Washington
        Arizona                                                        2.5%
                                                                         2.5%
                                                                           2.6%
        Nevada                                                                              3.3%
       Idaho
          Idaho
         Florida                                                       2.4%
                                                                         2.4%
                                                                           2.5%
           Utah                                                                      3.0%
       Texas
          Texas
   Washington                                                          2.5%
                                                                         2.5%
                                                                         2.5%
        Arizona                                                            2.6%
South
  South
      Dakota
        Dakota
          Idaho                                               2.1%
                                                                2.1%    2.4%
         Florida                                                          2.5%
          U.S.
            U.S.
          Texas                                    1.6%
                                                     1.6%                2.5%
   Washington                                                            2.5%
  South Dakota                                                  2.1%
         Idaho                                                          2.4%
            U.S.                                     1.6%
          Texas                                                          2.5%

  South Dakota                                                  2.1%

            U.S.                                     1.6%

Government,
 Government,16.2%
              16.2%                                                     Mining,
                                                                         Mining,0.6%
                                                                                  0.6%
  Total   Share
        Services,
                2.7% of Utah Jobs by Sector, 2019
 2019 BUSINESS CLIMATE
Other
  Other
      Services,   2.7%                                                  Construction,
                                                                          Construction,
                                                                                      7.0%
                                                                                        7.0%

          Leisure
             Leisure
                   &&                                       Manufacturing,
                                                               Manufacturing,8.8%
                                                                               8.8%
  Government,
   Hospitality,
    Hospitality, 16.2%
                9.9%
                  9.9%                                         Mining, 0.6%
 “Utah’s young,2.7%
 Other Services,                   2019
                                     2019
                    educated workforce   total
                                           totalto grow, state Construction,
                                       continues               and local governments
                                                                             7.0%    remain fiscally
 responsible and stable, and the cost of doing business remains lower than the national average.
 Utah continues
                                        job
                                          jobcount:
                                               count:
              Leisureto& receive recognition as a leading global business     destination,
                                                                    Manufacturing,     8.8% enjoying accolades
 Education
   Education& Health
               & Health
 from   national16.2%
  Government,
      Hospitality,                    1.56
                   sources like Forbes,
                   9.9%                 1.56 million
                                               million
                                           which                  Trade,
                                                 has ranked Utah theTrade,
                                                                      #1 Trans.,
                                                                             Trans.,
                                                                          Best
                                                                    Mining,       State for Business in six of
                                                                               0.6%
 the
     Services,
       Services,
      past
               13.4%
                 13.4%
            nine years                    2019 total              Utilities,
                                                                    Utilities,
                                                                             18.7%
                                                                               18.7%
  Other  Services, 2.7% and second in 2018. In November, Forbes        also named
                                                                    Construction,      Utah the Best State for
                                                                                     7.0%
 Entrepreneurs in 2020. Utah also ranked  job count:
                                                 fourth on CNBC’s “America’s Top States for Business 2019.”
 Factors   that
   Education     contribute
              Leisure
               & Health
        Professional
          Professional &      to this ranking include the economy, Manufacturing,
                                                                     high quality
                                                                             Trans., of8.8%
                                                                                         life, business friendliness,
 andHospitality,
       quality
       Services,infrastructure.”
                   9.9%
                 13.4%
          & Business
            & Business
                                        1.56 million                Trade,
                                                                  Information,
                                                                    Information,  2.5%
                                                                                    2.5%
                                                                    Utilities, 18.7%
     Services,
       Services,
               14.4%
                 14.4%                    2019 total                    Financial
                                                                           Financial
                                                                                   Activity,
                                                                                     Activity,
                                                                                             5.8%
                                                                                               5.8%
 Source: 2020 Economic Report to the Governor by the Utah Economic Council
                                          job count:
         Professional
   Education &ROSS
               Health& STAPLES
      14   & Business
      Services,
                                        1.56 million                       Trade, Trans.,2.5%
                                                                           Information,
                13.4% West Commercial | Office 801.456.8800 | www.mtnwest.com
              Mountain                                                    Utilities, 18.7%
       Services, 14.4%                                                    Financial Activity, 5.8%
2019 TRENDS
Utah’s strategic industry clusters employed over 258,000 Utahns in 2019, up from 247,000
in 2018, demonstrating 4.2% growth. Utah’s industry clusters include aerospace and
defense, energy and natural resources, financial services, life sciences, outdoor products,
and software development and information technology. Utah-based companies raised
$998 million in venture capital in 2018. Strong investment activity continued in 2019, with
companies raising over $1.2 billion as of November 19th. Utah also saw nearly $9.3 billion
worth of mergers and acquisitions by November 19, 2019.
*Source: 2020 Economic Report to the Governor by the Utah Economic Council

UTAH EMPLOYMENT GROWTH, LEVEL AND
PERCENT 2018–2019

    +45,600 jobs
                              Mining     200 (2.1%)
                        Construction                               4,500 (4.3%)
                      Manufacturing                                4.500 (3.4%)
              Trade, Trans., Utilities                                       6,200 (2.2%)
                         Information            1,400 (3.6%)
                    Financial Activity                2,400 (2.8%)
  Professional & Business Services                                                        8,200 (3.8%)
       Education & Health Services                                           6,100 (3%)
                Leisure & Hospitality                                        6,100 (4.1%)
                      Other Services          1,100 (2.7%)
                        Government                                   4,900 (2%)

*Source: 2020 Economic Report to the Governor by the Utah Economic Council

                                         Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com   15
TENANT PROFILES

      WEBSITE              www.rossstores.com                                         WEBSITE         www.staples.com
      OWNERSHIP            Public                                                     OWNERSHIP       Private
      LOCATIONS            1,480                                                      LOCATIONS       1,117
      HEADQUARTERS         Dublin, California                                         HEADQUARTERS    Farmingham, MA

      Ross Dress for Less is the largest off-priced retail chain in the U.S. Their    Staples is the world’s largest supplier of office products and related
      buyers work directly with manufacturers to negotiate the best deals. With       services to consumers and businesses. The company operates about
      their “no frills” concept, they pass more savings on to the customer. Ross      1,117 office-supply superstores and also sells products through catalogs,
      Dress for Less began in 1982 in Dublin, California with a single store. Since   Web sites, and a direct sales force. Staples operates in 21 countries.
      then, they have grown to 1,480 stores in 38 states, including the District of   In 1986 Staples invented the office supply superstore. Each Staples
      Columbia and Guam.                                                              superstore carries over 7,000 brand name products for businesses and
                                                                                      home offices, including supplies, furniture, small business machines,
                                                                                      computers and peripherals – all at Guaranteed Low Prices. In addition,
                                                                                      each store features a full–service print and marketing center, UPS
                                                                                      Authorized Shipping Outlet, furniture and design services.

      ROSS & STAPLES
 16    Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
DEMOGRAPHICS

POPULATION                                    BUFFERS - 1, 3, 5 MILES
                                                                             Farr West
                                                                                                        Harrisville
      1 MILE       3 MILES      5 MILES
      10,626       84,392       170,702                          Marriott-Slaterville
      2020 EST.    2020 EST.    2020 EST.
      POPULATION   POPULATION   POPULATION

      1 MILE       3 MILES      5 MILES                                                                                                            5 Miles
      11,680       92,838       186,408
      2025 EST.    2025 EST.    2025 EST.
      POPULATION   POPULATION   POPULATION                            West Haven
                                                                                                                 Ogden           3 Miles
                                                                                             &
                                                                                             '
                                                                                             %
                                                                                             15
                                                                                             FRONTRUNN ER

                                                                                                                  1 Mile
                                                                                                                 +
                                                                                                                 ,
                                                                                                                 89

                                                                                                       ^
HOUSEHOLDS & MEDIAN INCOME
                                                                                                       ^
      1 MILE       3 MILES      5 MILES
                                                                                         Riverdale
      3,807        31,732       61,766                          Roy
      2020 EST.    2020 EST.    2020 EST.                                                             Washington
                                                                                                       Terrace
      HOUSEHOLDS   HOUSEHOLDS   HOUSEHOLDS
                                                                                                                           South Ogden
                                             Hooper

      1 MILE       3 MILES      5 MILES                                                                        &
                                                                                                               '
                                                                                                               %
                                                                                                               84

      $57,913      $56,716      $62,853                                                                                            Uintah
                                                      Clinton             Sunset
      2020 EST.    2020 EST.    2020 EST.
      INCOME       INCOME       INCOME                                                                                         South Weber

                                              West Point
                                                                      Clearfield
                                                  Syracuse                                                                                   Layton
                                                                                                                                                  F:\Projects\SL\Brown\Riverdale\RossPkg\DemoRings.mxd - 5/14/2019 lplant

                                                                                   Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com                                                                         17
ROSS &
STAPLES
4043 RIVERDALE ROAD
OGDEN, UTAH 84405

PREPARED BY
BEN BROWN
bbrown@mtnwest.com
direct 801.456.8802
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CHAD MOORE
cmoore@mtnwest.com
direct 801.456.8801
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BRANDON GOODMAN
bgoodman@mtnwest.com
direct 801.746.4708
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 312 East South Temple, Salt Lake City, UT 84111
    Office 801.456.8800 | www.mtnwest.com
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