Q U A R L E S F L E E T F U E L I N G G R E E N S B O R O, N C

BCA NC REAL ESTATE LICENSE NO.: C9467

BERKELEYCAP.COM | 704.379.1980

OFFICES

NASHVILLE | TN5016 Centennial Boulevard, Suite 200

Nashville, TN 37209615.647.6514

ASHEVILLE | NC138 Charlotte Street, Suite 220

Asheville, NC 28801704.714.2365

CHARLOTTE | NC1228 East Morehead Street, Suite 200

Charlotte, NC 28204704.379.1980

CONTACTS

STEVE HORVATH704-379-1981

horvath@berkeleycap.com

RANSOME FOOSE704-379-1985

foose@berkeleycap.com

MIKE LUCIER704-943-3158

lucier@berkeleycap.com

CARL BRENDES704-714-2363

brendes@berkeleycap.com

MICHAEL HOWARD704-943-3160

howard@berkeleycap.com

3 BERKELEYCAP.COM | 704.379.1980

210 West Meadowview RoadGreensboro, NC 27406

LOCATION

TRAFFIC COUNTS

PROXIMITY TO CBD

The site is located three miles from Greensboro's Central

Business District.

The site benefits from a total of 196,300 VPD on surrounding

and nearby roadways within 0.40 miles.

196K+

3MI

L O C A T I O N M A P

4 BERKELEYCAP.COM | 704.379.1980

$ 8 5 0 , 0 3 06 . 7 5 % C A P R A T E

A S K I N G P R I C E

Q UA R L E S F L E E T F U E L I N G210 WEST MEADOWVIEW ROAD

GREENSBORO, NC 27406

TENANT QUARLES PETROLEUM

NET OPERATING INCOME $57,377

RENT INCREASES 5% EVERY FIVE YEARS

RENT COMMENCEMENT JULY 2, 2011

RENT EXPIRATION JULY 1, 2026

LEASE TYPE ABSOLUTE NET

ORIGINAL LEASE TERM 15 YEARS

LEASE TERM REMAINING 6.5+ YEARS

OPTIONS FOUR, 5-YEAR

RIGHT OF FIRST REFUSAL YES - 10 DAYS

I N V E S T M E N T O V E R V I E W P R O P E R T Y D E T A I L S

ACRES

1.58

YEAR BUILT

1998

SQUARE FEET

200

The subject Quarles Fleet Fueling is located adjacent to a Food Lion anchored grocery center, approximately 0.4 miles from I-85 BUS exit 221. The large, fully usable 1.58-acre parcel is situated within a densely populated area of Greensboro with over 156,896 people within a 5-mile radius. The experienced tenant closed out 2018 with its third acquisition of the year when it bought Revere Gas.

E X E C U T I V E S U M M A R Y

4

LEASE YEAR START END

ANNUAL RENT

% INCREASE

YEAR 6-10 7/2/2016 7/1/2021 $57,377 -

YEAR 11-15 7/2/2021 7/1/2026 $60,246 5.0%

OPTION 1 7/2/2026 7/1/2031 $63,258 5.0%

OPTION 2 7/2/2031 7/1/2036 $66,421 5.0%

OPTION 3 7/2/2036 7/1/2041 $69,742 5.0%

OPTION 4 7/2/2041 7/1/2046 $73,229 5.0%

R E N T S C H E D U L E

• 7 YEARS REMAINING ON LEASE

• EXPERIENCED TENANT WITH STRONG BALANCE SHEET | STRONG OPERATING HISTORY | 125 STATIONS IN 7 STATES

• ABSOLUTE NET LEASE | NO LANDLORD RESPONSIBILITIES

• ADJACENT TO A FOOD LION ANCHORED GROCERY CENTER

• LARGE FULLY USABLE PARCEL | 1.58 ACRES

• CONVENIENT ACCESS ALONG W MEADOWVIEW RD | 8,300 VPD

• COMBINED 188,000 VPD WITHIN 0.4 MILES OF THE SITE | I-40, S ELM-EUGENE ST, & RANDLEMAN RD

• ATTRACTIVE POPULATION DENSITY WITHIN A 5-MILE RADIUS | 156,896 PEOPLE

• RENT INCREASES 5% EVERY 5 YEARS

• IN LATE 2018, TENANT ACQUIRED RIVAL GAS DISTRIBUTOR | REVERE GAS | SEE PAGE 8 FOR MORE INFO

• APPROX. 3 MILES FROM GREENSBORO’S CENTRAL BUSINESS DISTRICT

• ADDITIONAL QUARLES LOCATION IN HIGH POINT, NC AVAILABLE | CONTACT FOR MORE DETAILS

I N V E S T M E N T H I G H L I G H T S

5 BERKELEYCAP.COM | 704.379.1980

D E M O G R A P H I C S N A P S H O T * & T R A F F I C C O U N T S

TOTAL VPD ON NEARBY & SURROUNDING ROADWAYS

WITHIN 0.40 MILES

196,300

$57,1782018 AVERAGE HOUSEHOLD

INCOME WITHIN FIVE MILES

$$ $

61,7912018 TOTAL HOUSEHOLDS

WITHIN FIVE MILES

163,0482023 POPULATION PROJECTION

WITHIN FIVE MILES

14.86%2000-2018 POPULATION

GROWTH WITHIN THREE MILES

3.92%2018-2023 POP. PROJECTED

GROWTH WITHIN FIVE MILES

*FOR DETAILED DEMOGRAPHICS, PLEASE CLICK HERE

University of NCat Greensboro 20,000 students

Four Seasons Town Center Mall

MID-RANGE AERIAL

OVERHEAD AERIAL

Winston-Salem State University6,620 students

University of NCat Greensboro 20,000 students

High PointUniversity 5,200 students

NC A&T StateUniversity 12,142 students

Wake ForestUniversity 8,112 students

Forsyth TechnicalCommunity College3,120 students

Wake Forest Baptist Health Hospital 885 beds

Moses Cone Memorial Hospital517 beds

High Point Regional Hospital326 beds

Wesley LongHospital175 beds

Novant Forsyth Medical Center921 beds

Smith ReynoldsAirport (INT)124 flights/day Piedmont Triad

Int'l Airport (PTI)246 flights/day

W I N S T O N - S A L E M

H I G H P O I N T

G R E E N S B O R O

8 BERKELEYCAP.COM | 704.379.1980

T E N A N T N E W S

QUARLES PETROLEUM ACQUIRES REVERE GAS' PROPANE DISTRIBUTION & RAIL TERMINAL ASSETS

January 7, 2019

FREDERICKSBURG, VA — Quarles Petroleum Inc. closed out 2018 by closing on its acquisition of Revere Gas, a third generation, family-owned retail propane gas distributor based in Hartfield.

"The Revere Gas delivery area complements our existing delivery territory in central Virginia and expands our presence in eastern Virginia," said Paul Giambra, CEO of Quarles Petroleum.

"As family-owned businesses our companies share the same core values of providing superior service to our customers and giving back to the communities we serve. We look forward to welcoming Revere customers to Quarles, and pledge to deliver the same high caliber of customer service they've come to expect."

Quarles is a regional provider of residential and commercial fuel headquartered in Fredericksburg. H.L. Revere founded Revere Gas in 1942. Under the leadership of the late Charles Revere and his sons, Carlton Revere, president and CEO, and Craig Revere, executive vice president, the company expanded its marketing presence across eastern and central Virginia, operating eight branch offices, plus a rail terminal. Revere Gas serves over 26,000 residential, commercial, agricultural, industrial and governmental customers in 32 counties.

"Lots of emotions were involved in making our decision to divest. While those emotions are important, there are business interests that need to be organized. Any family business considering to make such a change must have professionals that advise them well in advance of the ultimate sale. I could not dream of attempting a deal alone," Carlton Revere said.

Matrix Capital Markets Group Inc. provided merger and acquisition advisory services to Revere, which included valuation advisory, marketing the business

through a confidential, structured sale process and negotiation of the transaction. The transaction was managed by Spencer Cavalier, managing director; Vance Saunders, managing director; and John Duni, associate.

"The Matrix team are well versed in the intricacies of our industry and gave us good counsel as we navigated the transaction. Additionally, we are happy to call the team friends," Carlton Revere added.

Scott Seymour, Dustin DeVore, Greg Davis, Jacob Glasser and Alex Powell of Kaufman & Canoles served as legal counsel for Revere.

Established in 1940 as a one-truck oil company in Warrenton, Quarles Petroleum is a regional provider of residential propane and oil, commercial delivered fuels, fleet card sites and services, and lubricants. The family-owned firm serves customers in Virginia, Maryland, Delaware, West Virginia, Pennsylvania and North Carolina.

Please click HERE to view the online version of this article.

9 BERKELEYCAP.COM | 704.379.1980BERKELEYCAP.COM | 704.379.19809

Quarles Petroleum, Inc. is a regional oil company that operates in the Mid-Atlantic. Their locations provide customers with propane and heating oils, fleet fuels, fleet fuel card options, lubricants, GPS fleet management, and dealer services.

Founded in 1940 with only one delivery truck, Quarles Petroleum now operates over 125 fleet fueling stations throughout the Mid-Atlantic region of the United States. Their stations are currently spread throughout Virginia, Maryland, Delaware, West Virginia, Pennsylvania, Washington D.C. and North Carolina. Quarles Petroleum made recent news when they announced the acquisitions of Revere Gas in December of 2018.

YEAR FOUNDED1940 250+

TOTAL EMPLOYEESLOCATIONS125+

TOTAL REVENUE$415M

$$ $

T E N A N T O V E R V I E W

10

10BERKELEYCAP.COM | 704.379.1980

TABLE OF CONTENTS TABLE OF CONTENTS

G R E E N S B O R O , N O R T H C A R O L I N A

11 BERKELEYCAP.COM | 704.379.1980

M A R K E T O V E R V I E W - G R E E N S B O R O , N C

GREENSBORO, NCHISTORY• 3rd largest city in North Carolina• Connects High Point to the south and Winston-Salem to the east to form the Piedmont Triad• The Piedmont Triad covers almost 6,000 square miles containing more than 1.6 million people and is the 33rd largest combined statistical area in the United States

ECONOMY• Recognized as one of the manufacturing and transportation hubs of the Southeastern United States

• FedEx and UPS have distribution centers in the area• Both companies have over 1,000 employees in the area

• Honda Aircraft Company - world’s headquarters from Greensboro and employs more than 650 people in the area• AT&T – operates a call center employing more than 1,100 employees• The Volvo Group- manufactures trucks, buses, and construction equipment operates its Volvo Trucks North American Headquarters in Greensboro

• The company has over a $4 billion impact on the state of North Carolina

• Home to many textile, tobacco, and furniture corporations• Hanes and International Textile Group - are both located in the

Piedmont Triad Area• Lorillard Corporation - one of the country’s oldest tobacco

companies employs more than 2,500 people in the Piedmont Triad

INFRASTRUCTURE• Piedmont Triad International Airport (PTI)

• Third busiest airport in North Carolina• 280 takeoffs and landings each day

• Greensboro’s Urban Loop• Multi-billion dollar interstate project surrounding the city of

Greensboro• Divided into four sections

• Two sections already in progress• Final two portions to begin construction by 2019

• Will redirect traffic flow around downtown while offering easier connections to main roadways

• Greensboro is served by I-40, I-85, I-73, I-77 and the future I-785

EDUCATION• University of North Carolina at Greensboro (UNCG)

• Student population = 20,103• Offers 100 undergraduate, 61 masters, and 26 doctoral programs

• North Carolina A&T State University • Student population = 11,877• One of the oldest public universities in the United States

• Elon University• Private, liberal arts university with historic 636-acre campus• Student population = 7,000

MEDICAL • The Moses H. Cone Memorial Hospital – 535 beds• Wesley Long Hospital – 175 beds; serving the Greensboro

community for 100 years

TOURISM | ATTRACTIONS• Home to four international Civil Rights Museums

• Additional museums include the Greensboro Historical Museum, Greensboro Children’s Museum, and the Greensboro Science Center

• Lake Townsend • Largest municipal reservoirs at 1,542 acres• Rowboats and sailboats are available for rent• Pier and boat fishing is also allowed

• Bryan Park & Golf• Public park and golf course

PIEDMONT TRIAD• Greensboro, High Point, and Winston-Salem are three diverse and dynamic

cities that are strategically located at the center of North Carolina’s urban crescent – midway between Raleigh/Research Triangle Park and Charlotte.

• Within the Triad there is a regional population of 1.6 million, 16 college and universities, over 60,000 students and a workforce of over 800,000 employees.

• For the sixth year in a row, the Greensboro/High Point MSA earned a Top 10 national ranking for attracting new industry among similar-sized areas by Site Selection magazine.

• The MSA also earned Mid-Market of the Year for 2012 as a result of projects announced with 200 or more jobs or at least $30 million in investment.

• Companies consistently chose this area for its pro-business environment, low operational costs and quality labor.

• Some of the major companies that have offices in the Triad include Ralph Lauren, Pepsi Bottling, US Airways, Volvo, Caterpillar Inc., BB&T, Honda Aircraft, and FedEx.

POPULATION 1-MILE 3-MILE 5-MILE

2023 Projection 6,178 85,563 163,048

2018 Population 6,085 82,476 156,896

2010 Census 6,034 77,419 147,638

2000 Census 6,187 71,847 140,265

2018-2023 Annual Rate 0.30% 0.74% 0.77%

2010-2018 Annual Rate 0.10% 0.77% 0.74%

2000-2010 Annual Rate -0.25% 0.75% 0.51%

HOUSEHOLDS

2023 Total Households 2,371 32,932 64,335

2018 Total Households 2,347 31,565 61,791

2010 Households 2,364 29,753 58,502

2000 Households 2,481 27,337 55,641

2018-2023 Annual Rate 0.20% 0.85% 0.81%

2010-2018 Annual Rate -0.09% 0.72% 0.67%

2000-2010 Annual Rate -0.48% 0.85% 0.50%

2018 EST. AVG. HH INCOME $35,085 $45,587 $57,178

12 BERKELEYCAP.COM | 704.379.1980

ON WEST MEADOWVIEW RD

8,300 VPDON NEARBY ROADWAYS S. ELM-EUGENE RD,

RANDLEMAN RD, AND I-40 WITHIN 0.40 MILES

188,000 VPD

1-MILE

3-MILE

5-MILE

D E M O G R A P H I C S & T R A F F I C C O U N T S

TRAFFIC COUNTS

Berkeley Capital Advisors, LLC (“BCA”) has been authorized by the owner of the subject property (the “Seller”) to present you with this marketing package. This is a confidential package intended solely for your own limited use and benefit, as a principal, in considering whether you desire to pursue negotia-tions to acquire the subject property.

Your receipt and acceptance of this package serves to acknowledge your agreement to: (1) hold the information and materials contained herein,and the offering they represent, in the strictest of confi-dence; (2) not disclose, directly or indirectly, the information and materials contained herein,or the offering they represent, to any other person, firm or entity without prior written authorization from BCA or the Seller; (3) not use the information and materials contained herein in any fashion or manner detrimental to the interest of BCA or the Seller; (4) not disturb any tenants in possession of the subject property nor reveal to them the offering this package represents.

This marketing package was prepared by BCA and it has been reviewed by representatives of the Sell-er. The information and materials contained herein are selective and limited in nature, and neither BCA nor the Seller purports this to be an all-inclusive report on the subject property. Within this package, certain leases, documents and other materials are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements involved, nor do they purport to constitute a legal analysis of the provisions of those documents. Interested and qualified prospective purchasers will be afforded an opportunity to review additional information and to inspect the subject property, and all such prospective purchasers should conduct their own inde-pendent due diligence.

This package is based in part upon information supplied by the Seller and in part upon information ob-tained by BCA from sources believed to be reliable. All income, expense and/or investment projections contained herein are provided for general reference purposes only, in that they are based on assump-tions relating to the general economy, competition and other factors beyond the control of BCA and the Seller, and all such projections are therefore subject to variation. This package shall not be deemed an indication of the state of affairs of the subject property, nor constitute an indication that there has been no change in the business or affairs of the subject property since the date of preparation of this package.

Neither BCA, the Seller, nor any of their respective officers, employees or agents, has made or does make any representation or warranty, expressed or implied, as to the accuracy or completeness of this package or any of its contents, and no legal commitments or obligations shall arise by reason of this package or its contents.

BCA and the Seller expressly reserve the right, at their sole discretion, to alter or amend the terms of this offering, to reject any or all expressions of interest or offers to acquire the subject property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligation to any entity reviewing this package or making an offer to acquire the subject property unless and until a written agreement for such acquisition has been fully executed, delivered and approved by the Seller and any conditions to the Seller’s obligations thereunder have been satisfied or waived.

Parties seeking to act in a third-party brokerage capacity must register their client(s) with BCA prior to receiving or dispersing any marketing information. BCA will not recognize any third-party brokerage relationships without first receiving and approving such written client registration, nor will BCA or the Seller be obligated for any brokerage claims which may result, regardless of such broker’s involvement in procuring a purchaser for the subject property.

This package is the property of BCA. Photocopying, re-typing or other duplication of the information and materials contained herein is expressly prohibited. The information contained within this package and the offering of the subject property may not be announced, posted or otherwisepublicized in any electronic media (such as, by way of example only, any Internet or “broadcast fac-simile” communications).

If, after reviewing this package, you have no further interest in acquiring the subject property at this time, please return this package in its entirety to BCA. Likewise, if the terms contained in this Confiden-tiality & Disclaimer section are not acceptable to you, please immediately return this package to BCA.

AGENT’S DUTIESWhen you contract with a real estate firm to act as your agent in a real estate transaction, the agent must help you obtain the best price and terms possible, whether you are the buyer or seller. The agent also owes you the duty to:• Safeguard and account for any money handled for you• Act with reasonable skill, care and diligence• Be loyal and follow reasonable and lawful instructions• Disclose to you any information which might influence your decision to buy or sell

Even if the agent does not represent you, the agent must still be fair and honest and disclose to you all “material facts” which the agent knows or reasonably should know. A fact is “material” if it relates to defects or other conditions affecting the property, or if it may influence your decision to buy or sell. This does not require a seller’s agent to disclose to the buyer the minimum amount the seller will accept, nor does it require

AGENTS WORKING WITH SELLERSA seller can enter into a “listing agreement” with a real estate firm authorizing the firm and its agent(s) to represent the seller in finding a buyer for his property. The listing agreement should state what the seller will pay the firm no matter who finds the buyer.

The listing firm may belong to a listing service to expose the seller’s property to other agents who are members of the service. Some of those agents may be working with buyers as buyers’ agents; others will be working with buyers but still representing the sellers’ interests as an agent or “subagent”. When the buyer’s agents and seller’s subagents desire to share in the commission the seller pays to the listing firm, the listing agent may share the commission with the seller’s permission.

AGENTS WORKING WITH BUYERSA buyer may contract with an agent or firm to represent him (as a buyer’s agent), or may work with an agent or firm that represents the seller (as a seller’s agent or subagent). All parties in the transaction should find out at the beginning who the agent working with the buyer represents.

If a buyer wants a buyer’s agent to represent him in purchasing a property, the buyer should enter into a “buyer agency agreement” with the agent. The buyer agency agreement should state how the buy-er’s agent will be paid. Unless some other arrangement is made which is satisfactory to the parties, the buyer’s agent will be paid by the buyer. Many buyer agency agreements will also obligate the buyer to pay the buyer’s agent no matter who finds the property that the buyer purchases.

A buyer may decide to work with a firm that is acting as agent for the seller (a seller’s agent or sub-agent). If a buyer does not enter into a buyer agency agreement with the firm that shows him prop-erties, that firm and its agents will show the buyer properties as an agent or subagent working on the seller’s behalf. Such a firm represents the seller (not the buyer) and must disclose that fact to the buyer.

The terms and conditions stated in this Confidentiality & Disclaimer section apply and relate to all of the sections of this package as if stated independently therein.Prospective purchasers of the subject property are hereby notified that Berkeley Capital Advisors, and its agents, are acting in the capacity of a “Seller’s Agent” during the course of this offering, and as such are solely representing the interests of the Seller.

C O N F I D E N T I A L I T Y D I S C L A I M E R

NASHVILLE | TN1510 16th Avenue, Suite 300Nashville, Tennessee 32712

615.970.6596

CHARLOTTE | NC1228 East Morehead Street, Suite 200

Charlotte, North Carolina 28204704.379.1980

ASHEVILLE | NC138 Charlotte Street, Suite 220Asheville, North Carolina 28801

704.714.2365

B E R K E L E Y C A P. C O M