Lemmon Valley. KROGER (SMITH s Food & Drug) SHADOW Anchored CENTER PRESENTED BY. The SHOPpes a t 155 LEMMON DRIVE,RENO, NV SUBJECT PROPERTY

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1 SKY VISTA PKWY. ± 15,500 CPD SUBJECT PROPERTY LEMMON DR. ± 28,500 CPD ± 48,000 CPD KROGER (SMITH s Food & Drug) SHADOW Anchored CENTER PRESENTED BY Roxanne Stevenson Senior Vice President dir roxanne.stevenson@colliers.com The Shoppes at Lemmon Valley 1 Rick Casazza Senior Vice President dir rick.casazza@colliers.com Casey Scott, CCIM Senior Associate dir casey.scott@colliers.com The SHOPpes a t Lemmon Valley 155 LEMMON DRIVE,RENO, NV 89506

2 TABLE OF CONTENTS 4...Executive Summary 6...Investment Highlights 9...North Valley and Surround Area 12...Reno, Nevada Overview 18...Property Overview 21...Tenant Overview 24...Financial Overview 26...Confidentiality Agreement exclusively listed by Roxanne Stevenson Senior Vice President dir Rick Casazza Senior Vice President dir Casey Scott, CCIM Senior Associate dir The Shoppes at Lemmon Valley 2 3 The Shoppes at Lemmon Valley

3 EXECUTIVE SUMMARY OFFERING SUMMARY Colliers International is pleased to present the fee simple sale of Shoppes at Lemmon Valley located at the northeast corner of US 395 and Lemmon Drive in Reno, Nevada ( Property ). Shoppes at Lemmon Valley is a six tenant retail center comprised of +10,192 square feet and benefits from its central location within the booming North Valleys submarket and proximity to explosive residential and industrial growth. Reno has been a long time tourist destination known for its casinos, ski resorts, and the beauty of the famous Lake Tahoe region. Recently, Reno s claim to fame has switched to a new phase with large companies flocking to the region to take advantage of the attractive business benefits and quality of life. Many of these new companies are locating in the North Valleys such as Amazon.com, Urban Outfitters, Marmot, Mary s Gone Crackers and Cardinal Health. Shoppes at Lemmon Valley are shadowed anchored by a high volume Smith s Food & Drug (Kroger) and are located in a regional retail hub that serves a large and underserved trade area. The property offers an investor the opportunity to capture a piece of Reno s blossoming future and the stability of owning a property with long term viability. FINANCIAL SUMMARY Pricing $4,500,000 Property Size (NRA) 10,192 Year Built 2005 Current Occupancy 100% OPERATING DATA* Net Operating Income $286, Cash Flow Before Taxes $93, DEBT Debt $3,150, Required Equity $1,350, DEBT ASSUMPTIONS LTV 70% Amortization 30 Years Interest Rate 4.60% Annual Debt Service $193, INVESTMENT RETURNS* Cap Rate 6.37% Cash on Cash 6.90% *Forecast 2017 The Shoppes at Lemmon Valley 4 5 The Shoppes at Lemmon Valley

4 INVESTMENT HIGHLIGHTS > Prime regional location along a major U.S. Highway with outstanding visibility and access > The retail center is 10,192 square feet located adjacent to a successful Smith s Food and Drug (Kroger), offering a drive-thru pharmacy and fuel station > 100% of the six Tenants are national or regional franchises with long standing leases and strong attachments to their location > Most explosive residential growth in region with 5,819 residential units in the pipeline and over 23,350 proposed > Traffic generators on the intersection include nationally recognized Wal-Mart, Grocery Outlet, Big Lots Walgreen s, CVS, Starbucks, Bank of America, McDonald s, True Value and St Mary s Urgent Care > Most leases have built in annual increases > Close proximity to approximately 12 million square feet of NEW distribution, manufacturing and warehouse industries that includes Amazon.com, Petco, Marmot, Jet.com, Exxel Outdoors, Jarden and new announcements forthcoming > Retail properties in the submarket boast an overall vacancy rate of only 5.8% out of 571,245 square feet compared to the Reno-Sparks overall vacancy rate of approximately 10% > Underserved retail trade area that serves not only the communities of Golden Valley, Lemmon Valley, Stead, Red Rock and Cold Springs but also communities 60 miles to the north The Shoppes at Lemmon Valley 6 77 The Shoppes at Lemmon Valley

5 FEATURES AND BENEFITS Area Overview Facing South Features Benefits SPANISH SPRINGS TAHOE RENO INDUSTRIAL CENTER (TRIC) - 13 MILES SPARKS RENO-TAHOE INTERNATIONAL AIRPORT TRUCKEE CALIFORNIA 30 MILES 1. Location Prime regional location along U.S. 395 with excellent visibility and access. UNIVERSITY OF NEVADA DOWNTOWN RENO 2. Stable Investment Opportunity 100% of tenants in Shoppes at Lemmon Valley are national or regional franchises including AT&T, H&R Block, Papa Muphy s, Dotty s, Paycheck Advance and Great Clips. TRUCKEE MEADOWS COMMUNITY COLLEGE 3. Historically High Occupancy Levels Shadow anchored by a high volume Smith s Food & Drug (Kroger) and since completion in 2005, the center has maintained an occupancy of 86% or greater and has been 100% leased for five years. SUBJECT PROPERTY 4. Contractual Growth The tenants exhibit excellent, near-term growth in contractual rents in both the lease and option terms. 5. Area Economic Development Situated in the North Valleys with explosive growth in both new residential units and distribution/warehouse industries. 6. Underserved Trade Area Retail properties in the submarket boast an overall vacancy rate of only 5.8% out of 571,245 square feet compared to the Reno-Sparks overall vacancy rate of approximately 10%. RENO-STEAD AIRPORT LEAR INDUSTRIAL CENTER (PANATTONI) RED ROCK BUSINESS CENTER (PANATTONI) The Shoppes at Lemmon Valley 8 9 The Shoppes at Lemmon Valley

6 15 North Valley and Surrounding Area Overview NEW HOUSING NOW UNDER CONSTRUCTION AND RECENT COMPLETION ADDRESS UNITS STATUS Vista Hills 338 Units APPROVED Lakes at Sky Vista Parkway 768 Units PENDING Cabernet Highlands 290 Units UNDER CONSTRUCTION Estancia 290 Units UNDER CONSTRUCTION Ladera Ranch 356 Units APPROVED Panther Valley Estates 35 Units UNDER CONSTRUCTION Silver Peak Apartments 420 Units APPROVED Silver Vista Village 194 Units APPROVED Arroyo Crossing 237 Units APPROVED North Valley Estates I 45 Units APPROVED North Valley Estates II&III 207 Units APPROVED Stonefield 651 Units UNDER CONSTRUCTION Regency Park 361 Units UNDER CONSTRUCTION Silver Hills 680 Units APPROVED Woodland Village 2,028 Units UNDER CONSTRUCTION Canyon Hills 157 Units UNDER CONSTRUCTION TOTAL PROPOSED 17,060 Units Source: UNR Center for Regional Studies, Q BOOMING NORTH VALLEY S TRADE AREA NEW OFFICE AND INDUSTRIAL NOW UNDER CONSTRUCTION AND RECENT COMPLETION A N Valley Commerce Center B LogistiCenter 395 C Amazon Distribution Center (Completed) D LogistiCenter Military/Lemmon Ph. 1 & 2 E Petco (Just Completed) F LogistiCourt at Silver Lake (Completed/Available) G Dermody-Stead (Proposed) H Prado Ranch (Proposed) TOTAL NEW SQUARE FEET 1,441,860 SF 626,960 SF 624,000 SF 1,626,000 SF 770,000 SF 2,100,000 SF 1.250,000 SF 3,200,000SF 11,638,820 SF 2015/2020 PROJECTED POPULATION PRIMARY TRADE AREA (Polygon) RESIDENTIAL POPULATION North Valley s (ONLY) 2015 Population Estimate 70,787 73,360 Data Reference - ESRI 2016 DAYTIME POPULATION 10 Minute Drive Time ,567 20,864 Data Reference - ESRI 2016 COMBINED RESIDENTIAL AND DAY-TIME POPULATION 88,354 94,224 TRAFFIC COUNTS ROADWAY 16 LOCATION EXISTING DAILY VOLUME COLD SPRINGS 2035 PROJECTED DAILY VOLUME Sky Vista Parkway West of Lemmon Drive 15,500 30,529 Lemmon Drive South of Military Road 18,000 49,634 Lemmon Drive South of Sky Vista Parkway 28,500 57,367 US 395 South of Lemmon 62,000 88,500 US 395 North of Lemmon 48,000 58,500 SITE SILVER KNOLLS 14 E F G STEAD LEMMON VALLEY A 10 1 MILE 7 B 5 MILE 3 MILE 11 D 3 H 4 The Shoppes at Lemmon Valley 10 C 6 11 The Shoppes at Lemmon Valley 5 GOLDEN VALLEY

7 Reno, Nevada overview Reno is in the county seat of Washoe County with a population of approximately 433,000 people and a median household income of $60,722. Notably, Reno is the second most populous county in the state. Between 2000 and 2010, Washoe County s population increased almost 25%. While Reno is famous for gaming, it has the largest concentration of distribution related property per capita in the United States. The region offers an unmatched location to access key markets, favorable tax structure, strong telecommunications infrastructure, pro-business climate, excellent quality of life and comparatively lower cost of living. PROXIMITY (Miles from The Shoppes at Lemmon Valley) Reno/Sparks Convention Center Reno/Tahoe International Airport Downtown Reno University of Reno, NV Black Rock City, NV Lake Tahoe San Francisco Las Vegas Salt Lake City 11.1 Miles 10.4 Miles 9.1 Miles 5.4 Miles 129 Miles 32.7 Miles 226 Miles 453 Miles 523 Miles #1 most populous & highest startup density for the MSA class size 300+ sunny days a year 21k+ students at the University of Nevada, Reno 68k+ annual Burning Man attendees from all over the world 18.6 minute average commute. 7 minutes faster than the national average Reno is now a city of sustenance as well as indulgence. -The New York Times RENO/SPARKS AREA MARKET OVERVIEW Indicators in the Reno/Sparks market area are positive and the retail market continues to show steady improvement. There are eight submarkets in the region and of the approximate 18 million square feet of retail space that Colliers tracks, the overall vacancy rate has decreased steadily the past three years. As of year-end 2016, vacancy within Reno/Sparks stood at approximately 10%. Quoted overall average monthly rents increased slightly to $1.22 per square foot NNN. Significant new tenants entering the market in 2016 include Dick s Sporting Goods at Meadowood Mall and a new Sprouts and Chick-Fil-A currently under construction. With the great rebound the market has been experiencing, the market should see sustained growth, continued lower vacancies and modest upturns in rents. SUBMARKET RETAIL MARKET OVERVIEW The North Valleys Retail Submarket has fared better than the overall retail market in Northern Nevada, with a vacancy rate of only 5.8% compared to 10% in greater Reno/Sparks. The average asking monthly rents also outperformed the overall market at $1.45 per square foot. This is primarily due to the fact that there has been very little retail construction except the new multi-tenant pad adjacent to Wal-Mart but a great deal of housing construction during the boom. With the opening of Wal-Mart in 2012, the intersection has become a regional draw for the submarket as well as for small communities 60 miles to the north. The true trade area contains about 71,000 people. Other retail traffic generators include Grocery Outlet, Big Lots, Smith s Food & Drug (shadow-anchor the Subject Property), Walgreen s, CVS, McDonald s, Starbucks, Jack-in-the-Box, Qdoba, O Reilly, Dollar Tree, Anytime Fitness, Burger King, Wendy s, Taco Bell, US Post Office Regional Hub, Washoe County Library Branch and North Valley High School. Approximately 12 million square feet of new industrial/distribution development is either recently completed or under construction and includes names such as Amazon, Petco, Marmot, and Mary s Gone Crackers. In addition over 24,000 residential units are approved, pending approval and/or under construction in the trade area. The Shoppes at Lemmon Valley 12 Amazon LogistiCenter Source: Dermody Properties 13 The Shoppes at Lemmon Valley

8 ACCOLADES > > Reno, NV ranks #47 on Livibility s Top 100 Best Places to live 2016 > > Reno, NV named one of the best cities for mid-career professionals > > Nevada ranks No. 9 Best State for Business, Chief Executive Magazine May, 2016 > > Nevada named among 10 Most Entrepreneurial States by Kauffman Index of Entrepreneurial Activity June, 2016 > > National Geographic Nominates Reno in Top 10 Emerging Ski Towns > > Nevada ranks No. 1 in the Small Business Policy Index 2017 by the Small Business and Entrepreneurship Council February, 2017 > > Nevada ranks No. 5 Best Business Tax Climate in the 2017 Business Tax Climate Index by Tax Foundation September, 2016 > > Reno, NV ranks in the Top 20 Least Expensive Cities to Do Business in the 2013 Kosmont-Rose Institute Cost of Doing Business Survey November, 2015 > > The University of Nevada Reno is consistently rated a Tier 1 University by US News and World Reports > > Reno, NV ranks No. 25 in Top U.S. Growth Cities for 2016 in the Migration Trend Report by U-Haul January, 2017 > > Tahoe has estimated three million people visit Lake Tahoe each year nearly as many as Grand Canyon National Park and Yellowstone National Park > > Tahoe is ranked the #1 travel destination in the United States by TripAdvisor The Shoppes at Lemmon Valley 14 Lake Tahoe, Nevada 32.7 miles from The Shoppes at Lemmon Valley 8world-class ski resorts 2nd deepest lake in the U.S. 70 Feet of water clarity 72 miles of shoreline 3m people visiting each year Demographics 3 Mile 5 Mile 10 Mile POPULATION 2021 Projection 1,941 33,324 79, Estimate 1,899 31,558 76,168 Growth % 1.09% 0.97% HOUSEHOLDS 2021 Projection ,745 26, Estimate ,248 25,358 Growth % 0.95% 0.82% INCOME 2016 Median Household $49,596 $53,004 $50, Average Household $61,521 63,152 $60,890 Average Growth % 1.88% 1.75% DAYTIME POPULATION Total Businesses ,209 Total Employees 1,130 6,174 15, The Shoppes at Lemmon Valley

9 area development The Greater Reno-Tahoe s business and economic climate is experiencing a major boom and the ramifications are far reaching! As the announcements of large and recognizable companies that are moving to the area are publicized, businesses, investors and developers from all over the country are rushing to jump on the bandwagon. Companies are finding that the ease of doing business, coupled with favorable taxes and incentives, is creating an unparalleled motivation for business leaders to focus on Northern Nevada. With the area including major cities such as Reno, Sparks, Carson City, and Incline Village, there is plenty of room for expansion. With the benefits of Nevada s low tax on businesses - and a satisfying quality of life, it s a wonder why a business or developer would choose anywhere else. The region s optimal location to San Francisco, Portland, Salt Lake City, Las Vegas, and Los Angeles all within a day s drive is just another added benefit. With Nevada having the third most business-friendly tax structures in the country, it opened up many possibilities for out-of-state companies to locate facilities here, including Google, Tesla, Switch and Apple. Google recently purchased 1,210 acres of land in the Tahoe Reno Industrial Center, making them neighbors with Tesla and Switch. Tesla Motors also invested in Nevada and is currently building the world s largest lithium ion battery factory that is scheduled to have a 5.8 million square foot footprint. This $5 billion lithium battery plant is projected to employ 6,500 people and 16,000 indirect jobs within the next few years. In addition, the Las Vegas based tech company, Switch, is investing $1 billion in a 7.2 million square foot data center. The first building in the Switch Campus recently opened it s doors and became the world s largest single data center, measuring 1.3 million square feet. Finally, Apple also chose Reno to invest over $2 billion for their massive icloud data facility. They will also be building a 27,000 square foot shipping warehouse in downtown Reno. Apple is expected to generate 100 employees and 300 construction jobs from the data center and warehouse, on top of the current 717 established employees in Nevada. SWITCH Switch is bringing the world s largest data center to Reno, and investing over $1 billion in a 7.2 million square foot campus. This center will make Reno the most digitally connected state in the nation. Switch s project will include the development of a fiber optic network that will connect Reno and Las Vegas to Los Angeles and San Francisco. APPLE icloud TESLA/PANASONIC GIGAFACTORY After beating out rival states, such as Texas and Arizona, Nevada was chosen to be the home to the 5 million square foot Tesla Gigafactory. The $5 billion dollar project is expected to create 6,500 direct jobs and 16,000 indirect jobs in the community. Tesla s factory will rank as one of the world s largest buildings and will set the precedent for Reno s industrial renaissance. MARY S GONE CRACKERS AMAZON LOGISTICENTER The giant e-retailer, Amazon.com, has opened its new 640,000 square foot warehouse in the LogistiCenter Industrial Park. Currently, the LogistiCenter Industrial Park is comprised of two other warehouses for a combined total of 1.2 million square feet and is located on the same intersection as Shoppes at Lemmon Valley. PETCO DISTRIBUTION CENTER In addition to the larger companies moving to Reno, many manufacturers have already established their sites in Northern Nevada. Amazon moved one of their distribution warehouses into a 680,000 square foot e-commerce, high clearance building that employs 600 associates. Electric vehicle manufacturer, Cenntro Automotive also opened their new headquarter in an 80,000 square foot building in Sparks. While Amazon and Cenntro have become established in Reno, the pioneer of bringing tech companies to Northern Nevada is Microsoft. Microsoft moved its licensing office here in 1997 and is one of the only three Microsoft Regional Operation Centers in the world. With companies making the decision to move their operations into friendlier tax states becoming more frequent, Northern Nevada has become a hot spot for tech companies looking to expand. Initially built in early 2013, Apple s data center is continually growing. Currently, Apple has 345 acres of land in the Reno Technological Park and fully intends to continue expanding around the facility. Reno is now the home to the largest facility dedicated to the manufacturing and distribution of gluten free crackers, cookies, and graham style minis. Located in the new North Valleys Commerce Center, the facility occupies 420,000 square feet and is LEED certified. Mary s Gone Crackers chose Reno due to a stable and growing labor market, a strong food-related distribution network, and available manufacturing space. Petco s new distribution center will boast more than 770,00 square feet of space and provide 150 new jobs to the Reno area. Notably, the Reno facility is the first center Petco has built from the ground up and is fully operational. The building is projected to earn a LEED Silver designation for its energy-efficient infrastructure. The Shoppes at Lemmon Valley The Shoppes at Lemmon Valley

10 Shoppes at Lemmon Valley are Shadow-Anchored by Smith s Food & Drug PARCEL MAP physical description SKY PAR.1-A R.S PAR.2A R.S ac. VISTAPARKWAY sf sf PAR. 3 PM sf POR.PAR. 4A R.S.4368 PAR. 4B R.S sf LEMMON DRIVE Property Name The Shoppes at Lemmon Valley Property Address 155 Lemmon Drive, Reno, Nevada Location Convergence of US 395, Lemmon Drive and Sky Vista Parkway, Reno, Nevada GLA ±10,192 Land Area (SF) ±61,299 APN Year Built 2005 Zoning Current Occupancy Arterial Commercial (AC) 100% (100% are national or regional franchises) Number of Tenants 6 Access Traffic Access is off Lemmon Drive which is a fully signalized intersection. US 395 on/off ramps are directly adjacent to the site. US Highway 395 at Lemmon Drive: 62,000 ADT Lemmon Drive: 28,500 ADT Lemmon Drive and Sky Vista: 15,500 ADT Loan Loan Maturity Date September 8, 2017 PROPERTY OVERVIEW The Shoppes at Lemmon Valley 18 *Seller is a licensed Nevada Real Estate Broker 19 The Shoppes at Lemmon Valley

11 site plan Sky Vista Drive FOOD & DRUG STORES Retail Shops Retail Shops Dentention Pond Lemmon Valley Drive US 395 TENANT OVERVIEW The Shoppes at Lemmon Valley The Shoppes at Lemmon Valley

12 Dotty s is a chain of slot machine parlors with about 175 locations in Nevada, Oregon, and Montana, and another 150 locations planned in Illinois. The chain caters to women aged 35 and older, with a clean, well-lit atmosphere meant to invoke your grandmother s kitchen. Tenant Dotty s Unit # 101 Square Feet 2,992 Lease Expiration 05/24/2021 The Papa Murphy s concept of take-n-bake pizza began in Today they continue to focus on what has made Papa Murphy s the fifth-largest pizza company in the United States and the #1-Rated Restaurant Chain: Their commitment to FRESH. They re proud to provide a convenient and delicious meal at a great value from more than 1,400 locations in the United States, Canada and United Arab Emirates. Tenant Papa Murphy s Unit # 102 Square Feet 1,600 Lease Expiration 01/31/2020 Paycheck Advance is a national company that provides paycheck advances (payday loan, payday advance, cash advance, and payday loans). Tenant Paycheck Advance Unit # 103 Square Feet 1,400 Lease Expiration 12/17/2020 H&R Block is the world s largest tax services provider, having prepared more than 650 million tax returns since There are approximately 12,000 company-owned and franchise retail locations in all 50 states, Puerto Rico and other U.S. territories, and on U.S. military bases around the world. An H&R Block branded retail office is located within five miles of most Americans. In fiscal 2015, H&R Block had revenues over $3.1 billion and prepared 24.2 million tax returns worldwide. Tenant H & R Block Unit # 104 Square Feet 1,400 Lease Expiration 04/30/2018 Great Clips is a 100% franchised company with more than 4,100 salons across North Americ, each one offering a great haircut in a great location at a great price. What sets Great Clips apart is how easy it is for customers to make use the Online Check-In service, and Clip Notes, a technology that allows stylists to keep notes on a customer s haircut which is accessible at any Great Clips location. Great Clips franchisees employ nearly 40,000 stylists who receive ongoing training to learn the Great Clips customer care system and advanced technical skills. Our franchisees, their teams, and the corporate office are dedicated to our communities. Tenant Great Clips Unit # 105 Square Feet 1,490 Lease Expiration TBD The leading wireless solutions retailer operating 250+ stores in 25 states the United States. Spring Communications was established in 2001 and is a Wholly Owned Subsidiary of GameStop (NYSE: GME) and exclusive sells AT&T products and services. Tenant Papa Murphy s Unit # 106 Square Feet 1,310 Lease Expiration 03/30/2020 #106 #105 #104 #103 #102 #101 The Shoppes at Lemmon Valley The Shoppes at Lemmon Valley

13 RENT ROLL (effective september 2017) Suite # Tenant Name SF Monthly Rent Annual Rent Rent/SF Deposit Lease Start Lease End Options Rent Increases 101 Dotty's 2,992 $8, $96, $2.68 $6, /25/06 5/24/21 3X5 A CPI/min 3%-max 12% incl options 102 Papa Murphy's 1,600 $3, $39, $2.04 $2, /14/06 1/31/20 none A CPI/min 2.5% 103 Paycheck Advance 1,400 $3, $43, $2.57 $2, /17/05 12/17/20 none A CPI/min 3% 104 H & R Block 1,400 $2, $32, $ /19/05 4/30/18 1X5 Option rent: $2.26 PSF 105 Great Clips 1,490 $3, $37, $2.10 $3, /1/17* 8/1/22* 1X5 A 3% 106 AT&T (Spring Comm.) 1,310 $3, $37, $2.39 $3, /1/12 3/30/20 none A 3% TOTALS 10,192 $23, $286, $18, *Estimated Lease Dates INCOME (Year End 2016) EXPENSES (Year End 2016) Month to Date % Year to Date % Month/Year Month to Date % Year to Date % RENT INCOME Rent 31, , Plus: Prepaid Rent (1.09) Net Rental Income 31, , EXPENSE REIMBURSEMENT Prior Year CAM Rec , CAM Recovery 5, , Property Tax Recovery 1, , Property Insurance Recovery , Total Reimbursement 7, , TOTAL INCOME 39, , REIMBURSABLE OPERATING EXPENSES Perimeter Maintenance - - 3, Sweeping , Steam Cleaning Fire, Life, Safety-Panel Inspections Fire, Life, Safety-Qtrly Inspections Fire, Life, Safety-Water Fire, Life, Safety-Repair Fire, Life, Safety-Monitoring Management , Bldg Insurance - - 6, Bldg Electricity Bldg Water , Sewer , Trash Disposal , Property Tax - Building 4, , Total Reimbursable Operating Expenses 6, , NET INCOME $284, FINANCIAL OVERVIEW The Shoppes at Lemmon Valley The Shoppes at Lemmon Valley

14 Confidentiality agreement This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 155 Lemmon Drive, Reno, NV It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Owner and Colliers International. The material is based in part upon information supplied by the Owner and in part upon financial information obtained by Colliers International from sources it deems reliable. Neither Owner, nor their officers, employees, or agents make any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum from Colliers International, you agree: 1) The Offering Memorandum and its contents are confidential; 2) You will hold it and treat it in the strictest of confidence; 3) All photographs and graphic elements are property of Colliers International and use without express written permission is prohibited; and 4) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Owner. Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of 155 Lemmon Drive, Reno, NV or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Owner or Colliers International or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum. The Shoppes at Lemmon Valley The Shoppes at Lemmon Valley