Brent Mallonee 1 /ph: 1 602 954 9000 - Arizona Center

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OFFICE SPACE FOR LEASE RETAIL SPACE FOR LEASE 400 East Van Buren 455 North 3rd Street Phoenix, Arizona Brent Mallonee Senior Director 1 602 224 4437 brent.mallonee@cushwake.com Brad Douglass Ryan Leavitt Senior Director Director 1 602 224 4406 1 602 224 4489 brad.douglass@cushwake.com ryan.leavitt@cushwake.com 2555 East Camelback Road, Suite 400 Phoenix, AZ 85016 ph: 1 602 954 9000 fx: 1 602 468 8588 cushmanwakefield.com Brent Mallonee 1 602 224 4437 brent.mallonee@cushwake.com / 2375 E. Camelback Rd, Suite 300 Phoenix, Arizona 85016 ph: 1 602 954 9000 fx: 1 608 468 8588 cushmanwakefield.com

th e l ocat i on PARKING 19 STRUCTURES RIDERS PER DAY B U S I N E SS 7 MILLION A N N UA L S E RV I C E S DOWNTOWN PHOENIX 42% OF WORKFORCE WITHIN 3 MILES IS STUDENTS Theaters Comerica Theatre Herberger Theater Phoenix Symphony Hall Orpheum Theater Valley Youth Theatre Phoenix Biomed Campus 30-acres of medical research offices 6.5 million SF at full build‑out Conventions Phoenix Convention Center Talking Stick Arena, Phoenix Convention Center, Symphony Hall, Phoenix Biomedical Campus, Herberger Theatre, ASU Downtown Phoenix Campus and other Phoenix 12,000 focal points bringing over nine DOWNTOWN million visitors to downtown Phoenix CAMPUS annually. Arizona Center also hosts a strong daytime population of 66,609 NEARBY AMENITIES Sports Arenas Chase Field (Arizona Diamondbacks) Talking Stick Arena (Phoenix Suns) proximity to Chase Field, V I S I TO R S PROFESSIONAL ASU situated perfectly with professionals who work, eat, shop and enjoy Venues Crescent Ballroom Stand Up Live the beauty of its serene garden setting. Hotels Sheraton Hyatt Regency Westin Hilton Residence Phoenix Downtown Museums Arizona Science Center Arizona Doll & Toy Museum Children’s Museum of Phoenix Rosson House Museum Wells Fargo History Museum Phoenix Art Museum Heard Museum Sources: ASU, UofA, ESRI, Phoenix Metro Light Rail, CoStar, visitphoenix.com VETERANS MEMORIAL COLISEUM MCDOWELL RD GR AN D 16TH ST ABUNDANT 39,1 4 0 Arizona Center is WITHIN WALKING 16,242 DISTANCE DOWNTOWN CORE AV E VAN BUREN ST STATE CAPITOL WASHINGTON ST US CHASE AIRWAYS FIELD CENTER 7TH ST 180 ENTERTAINMENT WO R K F O R C E RESIDENTS CENTRAL AVE RESTAURANTS, & LIGHT RAIL 7TH AVE SHOPPING LARGE 19TH AVE AGE 27 MEDIAN BUCKEYE RD 1

downtown phoenix advantages Downtown Phoenix Today Phoenix Convention Center expansion; 3,637 total hotel rooms ASU Downtown Campus 15,000 students anticipated at this campus by 2020 5,024 new residential units since 2000 UofA College of Medicine/Biomedical Campus 83 new restaurants/bars since the start of 2008 Metro Light Rail 3.3M riders through downtown stops (2013) Employment Growth Downtown Residential Growth Biomedical Campus Development (over 30 acres) 10 Minutes to Sky Harbor International Airport – 1 of 10 Busiest Airports in the United States ASU DOWNTOWN CAMPUS Focus on street activation Urbanization Downtown Phoenix is quickly gaining the characteristics of other top tier cities Millennial and empty nester trends of urban living with connections to the dynamics of the submarket PHOENIX CONVENTION CENTER 200,000 SF, 75 million Chan Soon-Shiong Institute of Molecular Medicine at ASU planned for 7.5-acres north of Arizona Center, at Fillmore and 5th PHOENIX BIOMEDICAL CAMPUS 4

overal l si teplan VALET ENTR A N C E 4

re d evel op men t area D ow n tow n P hoe ni x A rt H Aus 25 Units Opening May 2017 tHe M use A pArtMents B roAdstone A rts d istrict 4 stOry - 367 Units MOve-in expected March 2017 4 stOry - 280 Units est. cOMpletiOn Fall 2017 B ruck Al c ulver d uplex 4 Units cOnstrUctiOn plan Under review n ew o ffice B uilding 9,124 sF c entrAl willettA ryan develOpMent 100 Units est. cOMpletiOn 2018 tHe o scAr develOper: stark jaMes 11 Units est. cOMpletiOn sUMMer 2017 r oosevelt r ow 2 nd & M orelAnd c ondos 4 stOry apartMent BUlding 316 Units alliance residential est. cOMpletiOn sUMMer 2017 79 Units est. cOMpletiOn jUne 2017 tHe f oundry 11,800 sF expansiOn and renOvatiOn OF existing 8 stOry - 75,760 sF hOtel i lluMinAte A pts 5 stOry Mixed Use BUilding w/ 2 level garage & 111 Units r oosevelt on 5 tH p ortlAnd on tHe pArk r oosevelt l iving townHoMes 3 stOry Mixed Use 170 Unit cOndO develOpMent est. cOMpletiOn 2017 4 Units On 2.3 acres 2 nd & M c k inley MUlti-FaMily/cOMMercial 211 Units r etAil u nion At r oosevelt l ineAr A pts sUMMer 2017 5 stOry apartMent BUilding 104 Units Mixed Use retail & 80 Units MUlti-FaMily develOpMent est. cOMpletiOn March 2017 3 rd st & p ierce st student H ousing develOper: ca ventUres M c k inley r ow r oosevelt p oint 18 Unit tOwnhOMe prOject est. cOMpletiOn 2017 324 Units c ircles on c entrAl p roxy 333 tHe M et 19 stOry apartMent BUilding 321 Units cOnstrUctiOn tO start Mid 2017 Mixed Use BUilding 118 Units with parking strUctUre & recreatiOnal aMenities 140 Units s An c roix villAs Asu p Hoenix B ioMedicAl c AMpus 56 Units 6 tH Ave c ottAges 10 Unit tOwnhOMe prOject 750,000 sF hOspital/ clinical/ OUt-patient 350,000 sF M.OB. potentiAl 300 apartMent Units c opper p lAce AZ c Ancer c enter develOper: nest prOperties 30 Units University OF arizOna & dignity health s k yline l ofts 332 Units A riZonA stAte A ltA filMore M Arriott 200 key planned 230 Units leasing sUMMer 2016 est. cOMpletiOn March 2017 tg en u niversity 168,000 sF OFFice d owntown c AMpus 355 n 5 tH Avenue Asu H erBerger s cHool of M usic traMMell crOw /- 800 Units est cOMpletiOn 2020 est cOMpletiOn 2019 n ortHern A riZonA u niversit y health sciences edUcatiOn BUilding u niversit y of A riZonA dOwntOwn phOenix caMpUs p Hoenix c entrAl stAtion city OF phOenix rFp M ercAdo H AMpton asU dOwntOwn 200 rOOMs M onroe H ilton g Arden i nn c ApitAl p lAce 5 stOry Mixed Use 140 Units cOMpleted FeBrUary 2016 cOnvert histOric Bldg tO hOtel with 1st FlOOr retail est. cOMpletiOn 2016 l uxury A pArtMents 350 Units l uHr ’s c it y c enter cOnstrUctiOn OF new hOtel & UndergrOUnd parking B Arrister p lAce tHe p residentiAl 4 stOry new cOnstrUctiOn 90 Units est. cOMpletiOn 2016 develOper: sUnBelt 114 Units /- 250,000 sF OFFice o ffice d evelopMent develOper: traMMell crOw OFFice /- 250,000 sF M ixed u se d evelopMent 16 stOry residential tOwer /- 300 Units OFFice /- 250,000 sF Fry’s FOOd & drUg /- 55,000 sF p Hoenix B AllpArk develOper: granite capital investMents 275 Units OVERVIEW g THE URBAN HEART OF ARIZONA Light Rail Station Light Rail Planned Pre Development Under Construction Potential Developable Sites Total Units Planned 1,630 Total Units In Pre Development 884 Total Units Under Construction 1,794 4.6 Billion 1.7 square mile redevelopment area investments 2005-2014 Residential Population* Daytime Employement Population* one-mile radius: one-mile radius: 16,242 66,609 two-mile radius: two-mile radius: 49,677 116,800 three-mile radius: three-mile radius: 95,543 178,282 * From Central Avenue & Washington Street E D U C AT I O N A N D R E S E A R C H STATS 12,000 450 Students currently at ASU Downtown Phoenix Campus Students at University of Arizona College of Medicine by 2015 15,000 400 Students at ASU Downtown Phoenix Campus by 2020 Number of Students at the Bioscience High School (on PBC) 1,284 30 ASU Student housing beds Number of acres in Phoenix Biomedical Campus INFRASTRUCTURE Highways - Interstate 10, Loop 202, State Route 51, and Interstate 17 all within 5 minutes of Downtown Metro Light Rail - Approx Travel Times: Entire 26 miles approx. 85 minutes - 3.3 million Downtown onboardings (FY 2016) - 15.6 million riders (FY 2016) - 11.5% Increase in ridership 2015 to 2016. Sky Harbor International Airport - One of the ten busiest in the U.S. - 10 minutes from Downtown - Phase 1 of Sky Train connecting t terminal 4 completed in 2013. - Phase 2 to remaining terminals finished in 2015. Chilled water system in place for building cooling 6

n e a r by amenities Ha nc e Pa r k r e de ve lo P m e nt SHOPPING g M o R e l a n d st R e e t Light Rail RESTAURANTS, & GRID Bike Hubs Bike Lanes P o R t l a n d st R e e t Amenities R o o s e v e lt s t R e e t Biomedical camPus (Downtown CAmpUS) 3 R d st R e e t 2 n d st R e e t University of ArizonA a da M s st R e e t MULTIFAMILY UNITS WITHIN 16,387 3 MILES Sources: ASU, UofA, ESRI, Phoenix Metro Light Rail, CoStar, visitphoenix.com 11 t h s t R e e t c e n t R a l av e n u e 2 n d av e n u e 3 R d av e n u e 4t h av e n u e M o n R o e st R e e t aRizona centeR A r i z o n A StAt e UniverSity 1 s t st R e e t 19 STRUCTURES va n B u R e n s t R e e t 1 s t av e n u e PARKING 5t h av e n u e ABUNDANT Fi l l M o R e st R e e t 6t h av e n u e DOWNTOWN PHOENIX Restaurants/Bars Phoenix I N 7 t h av e n u e C O N C E N T R AT E D M c K i n l e y st R e e t 7 t h av e n u e E M P LOY E E S Hotels ImpRovement DIstRIct 5t h st R e e t 57,500 Major Attractions R o o s e v e lt R o w 9 t h st R e e t 180 ENTERTAINMENT Light Rail Station Wa s h i n g t o n s t R e e t J e F F e R s o n st R e e t M a d i s o n st R e e t Jac K s o n st R e e t S ta d i u m diStrict 7

the nei g hbors M ixe d U s e d e v e lo p M e nt 16 Story r eSidential tower /- 300 U nitS o ffice /- 250,000 fry ’S food & d rUg /- 55,000 A r i z o n A s tAt e University ( D ow n tow n C A m p U s ) tAlking stiCk resort AreA of the phoenix sUns phoenix Convention Center ht Ra il biomeDiCAl Center Lig home of the A r i zo n A D i A m o n D b AC ks Li ChAse fielD gh tR ai l home A r i z o n A s tAt e University ( D ow n tow n C A m p U s ) University ArizonA of ( D ow n tow n C A m p U s ) A r i z o n A s tAt e University p r e p A r At o r y A C A D e m y 8

co n ce p tual programmi ng HOTE SHER L ATON H OTEL ARIZO NA STA DOWN TOWTNE UNIVERS CAMP ITY US FIL LM OR E STR VE CON TION EET NT ION ASU CONVE N R TE CEN CUL T URA 3RD L STRE ET D ME O- BI BIO U -M of A ED ICA L 5TH STR RESI DEN TIAL EET R endering by G e n s l e r ARIZONA CENTER RETAIL REFRESH CONCEPTS MAY 2016 PARALLEL CAPITAL PARTNERS 9

co n ce p tual retail ref resh VA LE T E NTR ANCE Renderings by Gensler 10

t he ow nership Parallel Capital Partners (“Parallel Capital”) is a private, fully-integrated real estate investment and operating company focused on acquiring value-added and core plus opportunities for our own account in the Western United States and Hawaii. Parallel Capital is the successor to the West coast operating platform of The Shidler Group, one of the nation’s foremost commercial real estate organizations. Parallel Capital Partners is focused on acquiring value-added and core plus opportunities through select investing in real estate equity, debt, and operating company re-capitalizations whose potential upside can be realized through improvements, restructuring, and superior leasing and management. The founders of Parallel Capital have demonstrated a superior 25 year track record of creating value in underperforming properties. The Company’s objective is to maximize the value of the underlying assets, migrate them from “value-added” opportunities to stabilized “core” properties, and to seek enhanced risk-adjusted returns through the optimal pairing of capital. t he re al e st ate te am Parallel Capital’s primary focus is on those long-term growth markets that have 1) high barriers to entry for the development of new commercial buildings; 2) a history of long-term job formation; and 3) a reputation for high quality of life. The above information has been secured from sources we believe reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. We make no representations or warranties that the premises are free of environmental hazards or that the premises are suitable in all respects to your contemplated use. You should conduct an independent investigation of all pertinent property information. We bear no liability for any errors, inaccuracies or omissions. Sources: ASU, UofA, ESRI, Phoenix Metro Light Rail, CoStar, visitphoenix.com Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of 5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter. Brent Mallonee Senior Director 1 602 224 4437 brent.mallonee@cushwake.com Brad Douglass Ryan Leavitt Senior Director Director 1 602 224 4406 1 602 224 4489 brad.douglass@cushwake.com ryan.leavitt@cushwake.com 2555 East Camelback Road, Suite 400 Phoenix, AZ 85016 ph: 1 602 954 9000 fx: 1 602 468 8588 cushmanwakefield.com

Arizona Doll & Toy Museum Children's Museum of Phoenix Rosson House Museum Wells Fargo History Museum Phoenix Art Museum Heard Museum LARGE WORKFORCE LIGHT RAIL 39,140 RIDERS PER DAY AGEMEDIAN 27 ANNUALWITHIN 3 MILES IS VISITORS DOWNTOWN PHOENIX SHOPPING 7 MILLION RESTAURANTS, & 180 ENTERTAINMENT ABUNDANT PARKING

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