NOAH’S Birmingham, AL 35243 Purchase Price: $5,750,000 · 2020. 1. 8. · 1. it is the responsibility of the contractor to provide all anchors and engineering necessary to insure

The Tenant in Common (TIC) interests offered and sold by Rockwell Debt-Free Properties constitute interests in real property.

They do not constitute securities. Consequently, federal and state laws regulating the sale of securities do not apply with respect

to the sale of TIC interests, and purchasers of TIC interests will not be entitled to the protections afforded to purchasers of secu-

rities under federal and state securities laws. Nothing in the attached offering documents should be construed as an offer or a

solicitation of an offer to buy or sell securities.

REPRESENTATIVE PHOTO

Debt-Free TIC Property

2025 International Park Lane

Birmingham, AL 35243

Purchase Price: $5,750,000

NOAH’S

EXECUTIVE SUMMARY

rockwelltic.com

NOAH’S

EXECUTIVE SUMMARY

The Tenant:Noah’s develops and operates innovative event and conference space for business, corporate and community events as well as weddings, anniversaries, birthday parties and other social gatherings. Automated features and state of the art technology and functionality make each room customizable. Noah’s offers boardrooms, conference rooms, game rooms, and a beautiful reception area that can accommodate upwards of 350 people. Noah’s provides a refreshing experience for their customers by offering unmatched Four Star space that energizes and sparks the imagination. Noah’s is best for delivering high-tech, upscale, impeccably clean, well-managed, flexible space that is the very best in their class. Noah’s booking fees are approximately 25% less than its competition and each location hosts an average of 30,000 plus visitors at over 300 events annually.

Noah’s is a great place for off-site meetings, trainings, expos, conferences or any other business activity. You can choose from fabulous board rooms, spacious conference rooms or game rooms for breakout sessions and break time. Noah’s provides a space that allows brides to create

the wedding of their dreams and a variety of rooms to help embrace all styles and designs.

Noah’s is the first event center to take its business model and hit the road nationally. Noah’s provides a functionality that meets personal, business, and professional needs. Noah’s is a unique gathering place that provides guests with a beautiful, fully-automated facility, resourcing the public with an event destination center, business venue, recreation center, reception hall, personal great room, and more, all within one state-of-the-art facility.

The Vision:“Our unique, affordable, diverse, and creative accommodations allow guests an opportunity to spend quality, wholesome time with family, friends and business associates. Memorable experiences add wonderful variety to life. Our values and vision compel us to stay at the leading edge of technological advancements in customer service, building design, maintenance, and scheduling in order to enhance the Noah’s experience for all our customers, employees, and investors.”

— William “Bil” Bowser (Founder, Senior Executive)

rockwelltic.com

The Future:The small event and conference industry as it exists today is a “Mom and Pop” industry without product consistency. Noah Corporation believes it can consolidate this industry much like other industries, such as Home Depot with the hardware industry, have consolidated their respective markets. Noah’s has found the small meeting and event business to be recession-resistant because the services they offer cater to one-time life events or necessary business events where their clients simply find the necessary resources to fulfill their needs.

Noah’s now has, and will continue to have, a competitive advantage over the marketplace because they simply do not try to support more than their core business, which is the rental of facility time as needed by their patrons. Noah’s does not have food service, as they allow their users to choose their cuisine, decorations, beverages and outside entertainment. This strategy allows them to partner with local entrepreneurs in order to provide the level of event services patrons envision. This strategy has also proven remarkably effective in turning those same partnering talents into a tremendous marketing force for Noah’s. Noah’s is further unrestricted by the noise and service limitations associated with hotels and one-off reception halls.

Risk Analysis:Noah Corporation has demonstrated their ability to examine and modify their business to achieve maximum profitability. They have demonstrated their ability to build, market and pre-book events. Noah’s business is largely absent of accounts receivable. Reservations are generally paid in advance with less than 6% of their current sales as a receivable. Their business is also absent traditional inventory. Noah’s anticipates revenues to well exceed the debt service and operating cost with their breakeven well below their currently operating occupancy levels.

The Lease:Noah’s has committed to lease the property for an initial term of 20 years. During the initial term of the lease, the base rent shall increase by 2% each year. The lease also includes two options to extend the lease for a period of 10 years each.

One of the many appealing aspects of this lease is that Noah’s pays directly all of the taxes, insurance premiums and all of the maintenance costs of the building. Therefore, the property co-owners have no active management duties, rendering this triple-net lease property a passive, hassle-free, real estate investment.

NOAH’S

EXECUTIVE SUMMARY

Some of the lease specifics are:

Lease payment schedule: Monthly

Lease guarantor: Noah Corporation

Initial lease term: 20 years

Renewal options: Two 10-year options

Rent increases: 2% annual escalations

Lot Size: 5.2 acres

Building Size: 8,000 square feet

PROPERTY DESCRIPTION

rockwelltic.com

This attractive 8,000 square foot building sits on a large 5.2-acre parcel of land in the fast-growing community of Birmingham, AL. Noah’s is strategically positioned adjacent to Interstates 459 in the heart of a new, thriving corporate campus, near several beautiful mixed use developments and is surrounded by high end retail shops and brand new hotels.

Birmingham is a charming Southern city and the largest in the state of Alabama. The region is home to more than 1,130,000 residents. Long known as the cultural and entertainment capital of Alabama, the local economy has been transformed in recent decades by investments in bio-technology and medical research at the prestigious University of Alabama at Birmingham. UAB is also the area’s largest employer accounting for nearly 20,000 jobs. Additionally, the region has become a leading banking center and serves as headquarters for a variety of large national telecom and insurance companies. The Birmingham metropolitan area has consistently been rated as one of America’s best places to work and earn a living based on the area’s competitive salary rates and relatively low living expenses.

Included in the Noah’s floor plan are the following; the main hall, the board room/bride’s room, the game room/ large conference room, and the theatre/medium conference room. The four-star interior and exterior are impeccably clean and well-maintained and provide a comfortable and classy environment for customers. Each room is also well equipped technologically with state of the art audio visual

equipment as well as security and lighting.

Before the first event will occur in this brand new building, Noah’s is expected to pre-book approximately $350,000 in future events. Consumers love the flexibility that Noah’s offers as they are able to do their own event planning and catering or outsource it to a professional.

Noah’s operations at this facility are very recession resistant as it serves to support important life events and essential business meetings while allowing patrons to customize the use of the space to meet their specific needs and conform to their individual budget. Many of Noah’s corporate clients include: Intel, Apple, Wells Fargo, Home Depot, PepsiCo and American Express.

In summary, this top-quality; state-of-the-art, commercial building is located in a highly desirable area that is experiencing tremendous growth. Noah Corporation has committed to a long-term lease and is poised to execute an innovative business model that is meeting a previously underserved need and is ideally positioned for sustainable success at this location now and in the future.

Noah’s Corporation is quickly becoming a national brand, with active expansion in several markets. Today you can find Noah’s operating in Alabama, Texas, Colorado, Utah, Arizona, Oklahoma, Florida, Kansas, Iowa, Nebraska, Wisconsin, Virginia, Michigan, Arkansas, North Carolina, Kentucky, Tennessee, Pennsylvania, New Mexico, Ohio, and Illinois with over 30 other projects in various phases of site acquisitions and development in 20 states.

NOAH’S


6' FENCE

80'8"

124'9"

250.0'

374.09'

405.4'

719.31'

225.17'

EXIS

TIN

G TREES TO R

EMAIN

EXIS

TIN

G TREES TO R

EMAIN

EXIS

TIN

G TREES TO R

EMAIN

SCOTT JENSEN

NOAH'S CORPORATION

(801) 580.6585

322 W 11000 S

SOUTH JORDAN, UT

84095 USA

HOOVER, ALABAMA

NOAH'S EVENT VENUE

INTERNATIONAL PARK DR,

BIRMINGHAM, AL 35243

USA

Project Address :

PRELIMINARY

LANDSCAPE

PLAN

Title:

Project:

Date DescriptionNo.

Landscape Consultant:

1 06/13/2016 PRELIMINARY LANDSCAPE PLAN

Sheet:

L1

1 OF 1

Contact:

Scale: 1" = 30' on Arch D Paper

Project number:

Date:

Drawn by:

06.13.2016

015

30

Design number:

00000

04623

KP

5

Revisions:

KEITH

p

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n

770

East m

ain

st. #118

LEHI,

UTA

H 840

43

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1) 420

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ESA

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ESIG

NLLC.C

OM

VICINITY MAP

NTS

SITE

TREE b

ound

ary

TREE b

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Tree, D

ecid

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16Oak, S

wamp W

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lb

a

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glyptostroboid

es

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ar s

tyraciflua

Tree, E

vergreen

5Cedar, D

eodar

Cedrus D

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3Magnolia

, Southern

Magnolia

grandiflora

tree CANOPY Legend

Qty

Common N

ame

Botanic

al N

am

eSize

2"c

al./ b

&b

tree c

over s

f

30

0 * 16

= 4

,80

0

2"c

al./ b

&b

2"c

al./ b

&b

2"c

al./ b

&b

2"c

al./ b

&b

20

0 * 5

= 1,0

00

250

* 3 =

750

30

0 * 6

= 1,8

00

30

0 * 8

= 2

,40

0

total s

.f. 10

,750

Check by:DM

60

801

T

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A

M

AB

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S

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OF

AL

DANNY

D.

MITCHELL

NUMBER

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R

E

D

LANDSCAPE

A

R

C

HIT

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PROPOSED

BUILDING

TRA

SH

ENCLOSUR

E

24' PROPOSED ACCESS ROAD

CAHABA LAKE

M

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M

ULCH

M

ULCH

M

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D.G.

D.G.

D.G.

OAK, SWAMP WHITE

16

EA

2" DIA.

1EA

2" DIA.

SWEETGUM, AMERICAN

2

EA

2" DIA.

SWEETGUM, AMERICAN

1EA

2" DIA.

SWEETGUM, AMERICAN

1EA

2" DIA.

REDWOOD, DAWN

1EA

2" DIA.

REDWOOD, DAWN

1EA

2" DIA.

REDWOOD, DAWN

REDWOOD, DAWN

1

EA

2" DIA.

REDWOOD, DAWN

1

EA

2" DIA.

SWEETGUM, AMERICAN

1

EA

2" DIA.

REDWOOD, DAWN

1

EA

2" DIA.

2EA

2" DIA.

SWEETGUM, AMERICAN

1EA

2" DIA.

CEDAR, DEODAR

1EA

2" DIA.

CEDAR, DEODAR

1EA

2" DIA.

CEDAR, DEODAR

CEDAR, DEODAR

1

EA

2" DIA.

CEDAR, DEODAR

1

EA

2" DIA.

3EA

2" DIA.

MAGNOLIA, SOUTHERN

EVER

GR

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ROAD

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UB

CUT STONE WALK

TR

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AR

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GR

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DESCRITION

SYMBOL

landscape key

1EA

2" DIA.

RED, MAPLE

1

EA

2" DIA.

RED, MAPLE

3EA

2" DIA.

EASTERN, REDBUD

2EA

2" DIA.

HOLLY, LUSTERLEAF

3EA

2" DIA.

FLORIDA, DOGWOOD

FLORIDA, DOGWOOD

3

EA

2" DIA.

1EA

2" DIA.

SWEETGUM, AMERICAN

NORTH

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land

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00 = 38

req

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8 t

rees

provid

ed tr

ees: 38 trees

rockwelltic.com

NOAH’S


rockwelltic.com

PLO

T Concept O

ffice.dgn 4/15/2016 12:48:31 PM

NOAH’S


NOAH’S


CAST STONE FEATURE. SEE PROFILE DETAIL.CAST STONE

HARDI-BOARD CEMENT BOARD OR APPROVED EQUAL.CEMENT BOARD

METAL DOWNSPOUT, SEE PLUMBING FOR SIZEDOWNSPOUT

EMERGENCY EGRESS LIGHT, SEE ELECTRICALEM

THINSET MCNEAR BRICK, CLOSURE SIZE, TIVOLIBRICK, THIN

STANDING SEAM METAL ROOFMTL ROOF

THROUGH WALL SCUPPER, TYPE TBD, SEE ROOF PLAN.SCUPPER

...

12"X24" GFRC PANEL TILESGFRC

EXTERIOR INSULATION AND FINISHING SYSTEMEIFS

METAL GUTTER, SEE PLUMBING FOR SIZE.GUTTER

BUILDING SIGNAGE REQUIRES SEPARATE APPROVALSSIGNAGE

T.O. SLABELEV 100' - 0"

T.O. MAIN HALL PARAPETELEV 121' - 6"

B.O. MAIN HALL TRUSSELEV 115' - 0"

B.O. LOBBY TRUSSELEV 113' - 0"

B.O. LOWER TRUSSELEV 111' - 0"

T.O. ENTRY PARAPETELEV 120' - 6"

T.O. MIDDLE PARAPETELEV 117' - 0"

CAST STONE

BRICK, THIN

EIFS

EIFSCAST STONE

GFRC

ROOF RIDGE

10'-

0"

TYP

4'-0

"

3' - 6 5/8"

TYP

8"

TYP

8"

T.O. SM CONF PARAPETELEV 114' - 6"

8"3"

4"

DOWNSPOUT

EIFS CAST STONE

CAST STONE

W3W4 W4

W2W2 W5W6 W6 W7 W7 W7 W7

EIFS CAST STONE

CAST STONE

BRICK, THIN

ELEV 121' - 0"

5' - 3 1/4" 3' - 6 5/8"

EQEQ

TOC

ENTE

R

7'-6

"

F13F13

ELEV 122' - 0"

ELEV 121' - 0"








B.O. GABLEELEV 114' - 0"

MTL ROOF

CAST STONE

BRICK, THIN

1' - 9"

8"


W1 W1 W1 W1

EIFSCAST STONE

CAST STONE

BRICK, THIN

8"




CAST STONE

BRICK, THIN

8'-6

"


W4

W7 W7 W7

W4

EIFS CAST STONE

CAST STONE

BRICK, THIN

F13 F13

3' - 4 1/8" 3' - 6" 3' - 4 1/8"

EMEM

9'-6

"

1. IT IS THE RESPONSIBILITY OF THE CONTRACTOR TO PROVIDE ALLANCHORS AND ENGINEERING NECESSARY TO INSURE A COMPLETEINSTALLATION OF ALL CAST STONE - INSTALL USING MANUF.RECOMMENDED DETAILS

2. CONTRACTOR TO SEAL ALL JOINTS IN CAST STONE WITH COMPATIBLEELASTOMERIC SEALANT COLOR TO MATCH CAST STONE. PROVIDE BACKERROD AT ALL JOINTS LARGER THAN 1/4" IN WIDTH.

© 2016 Shelden Architecture, Inc.

ISSUE: DATE:

I N S P I R E D S P A C E

PROJECT NO.

SHELDENARCHITECTURE.COM

8 0 0 E . F i r s t , S u i t e 1 4 0

T e l . 3 1 6 . 2 6 3 . 4 3 0 0

W i c h i t a , K a n s a s 67202

NOT

FOR

CONS

TRUC

TIO

N

A2.1

EXTERIORELEVATIONS

NO

AH

'S E

VEN

T VE

NU

E

15-0051

MATERIAL LEGEND

SCALE: 3/16" = 1'-0"A ELEVATION

SCALE: 3/16" = 1'-0"B ELEVATIONSCALE: 3/16" = 1'-0"C ELEVATION

PLAN NOTES








...












CAST STONE

BRICK, THIN

EIFS

EIFSCAST STONE

GFRC

ROOF RIDGE

10'-

0"

TYP

4'-0

"

3' - 6 5/8"

TYP

8"

TYP

8"


8"3"

4"

DOWNSPOUT

EIFS CAST STONE

CAST STONE

W3W4 W4

W2W2 W5W6 W6 W7 W7 W7 W7

EIFS CAST STONE

CAST STONE

BRICK, THIN

ELEV 121' - 0"

5' - 3 1/4" 3' - 6 5/8"

EQEQ

TOC

ENTE

R

7'-6

"

F13F13

ELEV 122' - 0"

ELEV 121' - 0"









MTL ROOF

CAST STONE

BRICK, THIN

1' - 9"

8"


W1 W1 W1 W1

EIFSCAST STONE

CAST STONE

BRICK, THIN

8"




CAST STONE

BRICK, THIN8'

-6"


W4

W7 W7 W7

W4

EIFS CAST STONE

CAST STONE

BRICK, THIN

F13 F13

3' - 4 1/8" 3' - 6" 3' - 4 1/8"

EMEM

9'-6

"




ISSUE: DATE:


PROJECT NO.


8 0 0 E . F i r s t , S u i t e 1 4 0

T e l . 3 1 6 . 2 6 3 . 4 3 0 0

W i c h i t a , K a n s a s 67202

NOT

FOR

CONS

TRUC

TIO

N

A2.1

EXTERIORELEVATIONS

NO

AH

'S E

VEN

T VE

NU

E

15-0051

MATERIAL LEGEND


SCALE: 3/16" = 1'-0"B ELEVATIONSCALE: 3/16" = 1'-0"C ELEVATION

PLAN NOTES









CAST STONE

BRICK, THIN

EIFS

CAST STONE

GFRC

ROOF RIDGE

EIFS

EIFS


W7 W7 W7 W7 W6 W5W2

W4 W3 W4

W2 W6

CAST STONE

DOWNSPOUT

EIFS BRICK, THIN

BRICK, THIN

F13 F13

TOC

ENTE

R

7'-6

"

EQEQ










...






ISSUE: DATE:


PROJECT NO.


8 0 0 E . F i r s t , S u i t e 1 4 0

T e l . 3 1 6 . 2 6 3 . 4 3 0 0

W i c h i t a , K a n s a s 67202

NOT

FOR

CONS

TRUC

TIO

N

A2.2

EXTERIORELEVATIONS

NO

AH

'S E

VEN

T VE

NU

E

15-0051


PLAN NOTES

MATERIAL LEGEND

PERSPECTIVE 2

PERSPECTIVE 1









CAST STONE

BRICK, THIN

EIFS

CAST STONE

GFRC

ROOF RIDGE

EIFS

EIFS


W7 W7 W7 W7 W6 W5W2

W4 W3 W4

W2 W6

CAST STONE

DOWNSPOUT

EIFS BRICK, THIN

BRICK, THIN

F13 F13

TOC

ENTE

R

7'-6

"

EQEQ










...






ISSUE: DATE:


PROJECT NO.


8 0 0 E . F i r s t , S u i t e 1 4 0

T e l . 3 1 6 . 2 6 3 . 4 3 0 0

W i c h i t a , K a n s a s 67202

NOT

FOR

CONS

TRUC

TIO

N

A2.2

EXTERIORELEVATIONS

NO

AH

'S E

VEN

T VE

NU

E

15-0051


PLAN NOTES

MATERIAL LEGEND

PERSPECTIVE 2

PERSPECTIVE 1

NOAH’S


BEV

REF

63' - 3 1/2" CONCRETE

37' - 7 1/2"

7' - 0" CONC 39' - 0" CONCRETE 7' - 0" CONC

28' -

0"

52' -

0"

17' -

0"

49' -

7 1

/2"

62' - 11 1/2" MASONRY

3' -

6 1/

4"

R.O

.

22' -

0"

2' -

5 3/

4"2'

- 0"

R.O

.

7' -

4 1/

4"6'

- 2

3/4"10

"1'

- 3"

R.O

.

17' -

3"

1' -

3"10

"6'

- 2

3/4"

R.O

.

7' -

4 1/

4"1'

- 5"

3' -

6"11

' - 3

" R.O

.5'

- 3

1/4"

11' -

3" R

.O.

5' -

3 1/

4"11

' - 3

" R.O

.5'

- 3

1/4"

11' -

3" R

.O.

3' -

6"

7' - 0"3' - 2"

R.O.

2'-8"8'-0"

R.O.

2'-8"5'-8"

R.O.

2'-8"8'-0"

R.O.

2'-8"3'-2"7'-0"

3'-5"6'-93/4"11'-3"R.O.4'-41/2"11'-3"R.O.4'-41/2"11'-3"R.O.6'-93/4"3'-5"

6'-71/4"CLR

LOB

BY

104

CA

FE10

5

WO

MEN

109

MEN 107

MA

IN H

ALL

100

MEE

TIN

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OO

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2

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106

FAM

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RR

108

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1

6'-71/4"CLR

FIR

E

12'-7"7'-0"5'-6"1'-31/2"

5'-6"7'-0"12'-9"

52'-8"MASONRY

53'-0"CONCRETE

10'-51/2"2'-11/2"7'-0"12'-31/2"7'-0"12'-9"

61'-2"

4' -

7 1/

2"7'

- 9"

10' -

3"

6' -

3 1/

2"

15' -

11"

21' -

1"

15' -

0"

68' -

1 3

/4"

5'-13/4" 5'-13/4"

LIN

EN

4'-4"

C A3.1

2'-8"4'-4"

A A3.1

B A3.1

CO

MP

15' -

0"

22' -

5 1

/2"

15' -

0"

11' -

0"

D108

D106

D107D109

D10

0C

D10

0B

D104A

D104B

D10

1B

D105

D10

0A

D102D103

D10

1E

D10

1D

D10

1C

D10

1A

D104D

D104C

1 A3.2

7' -

2"

7' -

2"

7' -

2"

7' -

2"

4"4"

4"

2 3/

4"

2"

4' -

0"

5"

4' -

0"

5"

4' -

0"

D110A

D111B

D11

0B

D112A

D11

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STO

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111

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6'-1"18'-21/2"12'-31/2"18'-21/2"6'-41/2"

6'-71/4"CLR 6'-71/4"CLR

FS

147'

- 9

3/4"

MAS

ON

RY

1' -

0"

W7

W7

W7

W7

W7

W7

W7

W7

W7

W7

W7

W6

W6

W6

W6

W1

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rockwelltic.commynoahs.com

NOAH’S


NOAH’S


rockwelltic.commynoahs.com

NOAH’S


LEASE PROFILE

rockwelltic.com

Lease Term: 20 years base term - 2.0% annual increases

Average Cap Rate: 8.50% over the initial lease term

Renewal Options – Two, 10-year optionsOptions to Extend: Lessee shall have the right and option to renew this lease for two additional periods of 10 years, immediately following the expiration of the initial term of this lease. The base rent shall increase 2.0% each successive year during the renewal period.

Operating Expenses and UtilitiesTaxes: Tenant shall be responsible for all real property taxes, general and special assessments, water and sewer charges, or any other governmental charges and fees associated with membership in a property owners association that may be levied or assessed against the Premises, the Facility, or any improvements related thereto by any lawful authority for each calendar year or portion thereof commencing on the Commencement Date.

Insurance: Tenant agrees to carry, during the Initial Term and any Renewal Term hereof, all risk property insurance with the Landlord as the named insured (“Landlord’s Property Insurance”) covering fire and extended coverage, vandalism and malicious mischief, sprinkler leakage and all other perils of direct physical loss or damage insuring the improvements and betterments located in or on the Premises and all appurtenances thereto (excluding Tenant’s Property) for the full replacement value thereof.

Tenant shall furnish Landlord with a certificate of such Landlord’s Property Insurance, and such insurance shall provide Landlord with thirty (30) days written before and termination or change in such insurance.

Tenant also agrees to carry commercial general liability insurance on the Premises during the Initial Term and any Renewal Term covering both Tenant and Landlord as their interest may appear, giving Landlord and Tenant a minimum of thirty (30) days written notice by the insurance company prior to cancellation, termination or change in such insurance. Such insurance may have a deductible of not more than $10,000 and shall be for limits of not less than $1,000,000 per person and $1,000,000 per accident or occurrence for bodily injury and $250,000 for property damage per accident or occurrence.

NOAH’S

L E A S E P R O F I L E

YEAR ANNUAL RENT CAP RATE

CONSTRUCTION TERM $402,301 7.00%

MAR 2017 $402,301 7.00%

MAR 2018 $410,347 7.14%

MAR 2019 $418,553 7.28%

MAR 2020 $426,925 7.43%

MAR 2021 $435,463 7.58%

MAR 2022 $444,172 7.73%

MAR 2023 $453,056 7.88%

MAR 2024 $462,117 8.04%

MAR 2025 $471,359 8.20%

MAR 2026 $480,786 8.37%

YEAR ANNUAL RATE CAP RATE

MAR 2027 $490,402 8.53%

MAR 2028 $500,210 8.70%

MAR 2029 $510,214 8.88%

MAR 2030 $520,419 9.06%

MAR 2031 $530,827 9.24%

MAR 2032 $541,444 9.42%

MAR 2033 $552,272 9.61%

MAR 2034 $563,318 9.80%

MAR 2035 $574,584 10.00%

MAR 2036 $586,076 10.20%

rockwelltic.com

NOAH’S

L E A S E P R O F I L E

Repairs and MaintenanceMaintenance, Repair, and Replacement at Lessor’s Sole Cost: (Absolute NNN-Lease)Tenant agrees to keep all of the Premises, including without limitation, the roof, doors, window casements, glazing, interior walls, floors, ceilings, carpets, interior plumbing, interior pipes, electrical wiring, HVAC systems, alarms and fire suppression systems, utility lines, the exterior and interior of the Facility and the improvement’s located therein, the interior walls and interior decorating in good condition and repair. Tenant agrees to repair or pay for the repair of any representatives, vendors, customers and invitees. Tenant shall also be responsible to pay all janitorial and cleaning costs to keep the Premises clean and fee of debris, If repairs for which the Tenant is responsible are not completed within twenty days after Tenant has received written notice from landlord of such state of disrepair, or if such repairs cannot reasonably be completed within such twenty day period and Tenant shall fail to commence such repairs within twenty days after notice and proceed diligently thereafter, then Landlord may perform such repairs and charge 105% of the amount of the actual cost thereof to Tenant as Additional Rent.

*A full copy of the Noah’s Lease provided upon request.

B I R M I N G H A M , A L

A B O U T T E N A N T S - I N - C O M M O N

D E S C R I P T I O NNoah Corporation develops and operates innovative event and conference center space for business, corporate and community events as well as weddings, anniversaries, birthday parties and social gatherings. Noah’s provides their customers with high tech, upscale, impeccably clean, well-managed, flexible, four-star space that is the very best in their class. Learn more by visiting www.mynoahs.com.

Birmingham is a charming Southern city and the largest in the state of Alabama. The region is home to more than 1,130,000 residents. Long known as the cultural and entertainment capital of Alabama, the local economy has been transformed in recent decades by investments in bio-technology and medical research at the prestigious University of Alabama at Birmingham. UAB is also the area’s largest employer accounting for nearly 20,000 jobs. Additionally, the region has become a leading banking center and serves as headquarters for a variety of large national telecom and insurance companies. The Birmingham metropolitan area has consistently been rated as one of America’s best places to work and earn a living based on the area’s competitive salary rates and relatively low living expenses.

Tenants-in-Common or TIC ownership allows multiple buyers to purchase an undivided percentage of a single piece of property. Each buyer receives his own deed to the property and benefits from all of the income, tax shelters and appreciation it provides. This Rockwell property has the following characteristics:

• $150,000 minimum investment amount

• Property is offered debt-free

• Long-term, corporate-guaranteed lease

• No closing costs

• Satisfies IRS requirements for 1031 exchanges

Noah’sBIRMINGHAM, AL

L E A S E I N F O R M A T I O N

LEASE GUARANTOR Noah Corporation

INITIAL LEASE TERM 20 years

RENT INCREASES 2% annual escalations

RENEWAL OPTIONS Two 10-year options

LEASE T YPE Absolute Triple Net (NNN)

AVERAGE RETURN Initial Term: 8.50%

Toll Free: 1-877-568-1031 | Phone [email protected] | www.RockwellTIC.com

YEAR ANNUAL RENT CAP RATE

CONSTRUCTION TERM $402,301 7.00%

MARCH 2017 $402,301 7.00%

MARCH 2018 $410,347 7.14%

MARCH 2019 $418,553 7.28%

MARCH 2020 $426,925 7.43%

MARCH 2021 $435,463 7.58%

MARCH 2022 $444,172 7.73%

MARCH 2023 $453,056 7.88%

MARCH 2024 $462,117 8.04%

MARCH 2025 $471,359 8.20%

MARCH 2026 $480,786 8.37%

MARCH 2027 $490,402 8.53%

MARCH 2028 $500,210 8.70%

MARCH 2029 $510,214 8.88%

MARCH 2030 $520,419 9.06%

MARCH 2031 $530,827 9.24%

MARCH 2032 $541,444 9.42%

MARCH 2033 $552,272 9.61%

MARCH 2034 $563,318 9.80%

MARCH 2035 $574,584 10.00%

MARCH 2036 $586,076 10.20%

P R O P E R T Y I N F O R M AT I O NTENANT Noah Corporation

LOCATION2025 International Park Ln.

Birmingham, AL 35243

PROPERT Y T YPE Single-tenant, freestanding

BUILDING/LOT SIZE 8,000 sq. ft. / 5.2 acres

PURCHASE PRICE $5,750,000

ROCKWELL DEBT-FREE PROPERTIES8494 South 700 East, Ste 200 · Sandy, UT 84070

Documents

NOAH’S Birmingham, AL 35243 Purchase Price: $5,750,000 · 2020. 1. 8. · 1. it is the responsibility of the contractor to provide all anchors and engineering necessary to insure