OFFERING

MEMORANDUM

Santander Bank Building241 Monmouth Rd. West Long Branch, NJ 07764

Marcus & Millichap’s New Jersey BOR: Brian Hosey

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NON-ENDORSEMENT & DISCLAIMER NOTICES

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/ her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

The information contained in this Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS

MARCUS & MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF AN INVESTMENT PROPERTY AS FOLLOWS:

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TABLE OF CONTENTS

SANTANDER BANK BUILDING241 MONMOUTH ROAD

WEST LONG BRANCH, NJ 07764

04 INVESTMENT OVERVIEWSECTION 1 Investment Overview • Investment DetailTenant Summary • Operating Statement

09

16

LOCATION OVERVIEWSECTION 2 Site Aerials • Site MeasurementsTrade Area • Economic Drivers

DEMOGRAPHIC OVERVIEWSECTION 3 New Jersey Overview • Demographics

SECTION

4

INVESTMENT OVERVIEWSantander Bank Building l West Long Branch, NJ

INVESTMENT OVERVIEW

INVESTMENT HIGHLIGHTS

Marcus & Millichap had been exclusively retained by ownership for the disposition of their fee simple interest in 241 Monmouth

Road (Route 71) located in West Long Branch, Monmouth County, New Jersey. The asset’s 27,564(+/-) SF building sits on roughly

5.2 acres and is anchored by Santander Bank with over $107M in deposits at this location. Santander Bank has over 650+

locations in eight states with over $57B in total deposits.

A savvy investor while see the multitude of ways to create value at 241 Monmouth Road either through leasing vacant space,

owner / user facility or a complete site redevelopment of this rare five acres of land in the densely packed town of West Long

Branch, NJ. Additional, the right investor will also see the value in purchasing the additional, adjacent three(+) acres of land for a

total combination of eight(+) acres.

The asset is strategically located at the four-way, traffic light, intersection of Monmouth Road and Parker Avenue with two

ingress/egress access points which sees over 20,026(+/-) vehicles per day. Monmouth Road is a major corridor connecting State

Route 36 to Monmouth University, Monmouth Medical Hospital, Shore Regional High School as well as the shore towns of Long

Branch, Deal, and Asbury Park. In addition, Parker Avenue runs pararrel to State Route 36 and provides the local communities with

rear access to major retail tenants along the State Route 36 highway.

The location is ideal for accessibility to local redevelopments such as Fort Monmouth Redevelopment (1,400 acres), Monmouth

Mall Redevelopment, Long Branch Beachfront Redevelopment, Asbury Park Beachfront Redevelopment. In addition, medical

institutions such as Monmouth Medical Hospital, Jersey Shore Hospital and River View Hospital are in close proximity as well as

Monmouth University and Shore Regional High School which all benefit from the 150,963 people with an AHHI of $116,038 in a

five-mile radius of 241 Monmouth Road.

INVESTMENT SUMMARY

• ASSET: Value-add 27,564(+/-) SF office building on 5.2(+/-) acres of land

• ANCHOR: Santander Bank with over $107M in deposits at this location

• VALUE-ADD: Lease up vacant space, owner user or redevelopment

• LOCATION: Traffic light intersection with two ingress / egress access points

• DEMOS: Population of 150,963 people w/ AHHI of $116,038 in five mile radius

INVESTMENT DETAIL

PRICE: DETERMINED BY MARKET

THE OFFERING

Property Santandar Bank Building

Price $

Property Address 241 Monmouth Rd, West Long Branch, NJ

Assessors Parcel Number 53-00061-0000-00094

Zoning PR

SITE DESCRIPTION

Number of Floors Two Floors w/ Basement

Year Built/Renovated 1985

Rentable Square Feet 23,775

Ownership Fee Simple

Lot Size 5.2 acre(s)

Parking 142

Parking Ratio 5.15 / 1,000

Topography Flat

Intersection/Cross Street Parker Ave.

UTILITIES

Gas New Jersey Natural Gas

Electric Jersey Central Power & Light

Water New Jersey American Water

CONSTRUCTION

Foundation Concrete Slab

Framing Steel frame

Exterior Brick

Parking Surface Asphalt

Roof Shingles & Rubber Membrane

MECHANICAL

Fire Protection Sprinklers

Elevators One

INVESTMENT DETAIL

TENANT SUMMARY

INVESTMENT DETAIL

OPERATING STATEMENT

SECTION

9

LOCATION OVERVIEWSantander Bank Building l West Long Branch, NJ

10

LOCATION OVERVIEW – SITE AERIAL

Actual Site

Actual Site

Actual Site

Actual Site

Additional Land Available

11

LOCATION OVERVIEW – SITE AERIAL

NEW CONSTRUCTION

2019 DELIVERY

ALSO AVAILABLE

Colonial PlazaNew York City

Additional Land Available

12

LOCATION OVERVIEW – SITE AERIAL

ALSO AVAILABLE

Lloyd Plaza

(16,998 AVD)

Shore Regional High School

13

LOCATION OVERVIEW – SITE MEASUREMENTS

Actual Site

Actual Site

Actual Site

Actual Site

Shore Regional High School

Betty McElmon Elementary

School

Old Orchard Golf Course

Avalon Bay Community

14

LOCATION OVERVIEW – ECONOMIC DRIVERS

Actual Site

Actual Site

Actual Site

Actual Site

Shore Regional High School

Betty McElmon Elementary

School

Old Orchard Golf Course

Avalon Bay Community

15

LOCATION OVERVIEW – TRADE AREA MAP

Fort Monmouth Redevelopment

(1,400 Acres)

Old Orchard Golf Course

Monmouth ParkHorse Track

Pier Village

Monmouth Medical Hospital

NJ Transit RailDirect to NYC

Monmouth University

Long BranchHigh School

Monmouth MallRedevelopment

Shore RegionalHigh School

Avalon BayCommunity

SECTION

16

DEMOGRAPHICS OVERVIEWSantander Bank Building l West Long Branch, NJ

The Central New Jersey region is conveniently located near both the New

York City metro and the Philadelphia metro and contains a well-

developed interstate network and mass-transit opportunities. Consisting

of Mercer, Middlesex, Monmouth, Ocean and Somerset counties, Central

New Jersey includes more than 150 municipalities, and the city of Edison

in Middlesex County is the largest. Mercer County is home to the state’s

capital in Trenton and Princeton University in Princeton.

▪ Many counties in the region consistently rank among the nation’s top 50 for per capita income.

Elevated incomes produce strong retail sales and support a healthy service industry.

▪ New Jersey is home to 20 Fortune 500 companies in diverse industries from healthcare to energy.

Two Fortune 500 companies operate out of Central Jersey: Johnson & Johnson in New Brunswick,

and NRG Energy in Princeton. Kinder Morgan also operates locally.

▪ Amazon has a fulfillment center in Carteret in Middlesex County; the company has two facilities in

the market, growing the region’s distribution sector.

DEMOGRAPHICS

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ECONOMY

METRO HIGHLIGHTS

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau

DIVERSIFYING EMPLOYMENT

The economy is diversifying from its manufacturing base to include energy,

healthcare, pharmaceuticals, tourism, logistics and distribution.

EDUCATED LABOR FORCE

Roughly 40 percent of residents age 25 and older have a bachelor’s degree; of

these, 16 percent also hold a graduate or professional degree.

HIGH BARRIERS TO ENTRY

Expensive land costs, dense development and strict governmental regulations

moderate additional development.

2.8M

2018POPULATION:

1M

2018HOUSEHOLDS:

40.6

2018MEDIAN AGE:

$83,200

2018 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

38.0U.S. Median:

$58,8003.9%

Growth2018-2023*:

3.0%

Growth2018-2023*:

DEMOGRAPHICS OVERVIEW

PROPERTY NAME

MARKETING TEAM

Source: © 2017 Experian

DEMOGRAPHICS OVERVIEW

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Population 6,345 76,420 151,584

▪ 2018 Estimate

Total Population 6,317 76,669 150,943

▪ 2010 Census

Total Population 6,278 76,368 150,273

▪ 2000 Census

Total Population 6,208 78,870 152,358

▪ Current Daytime Population

2018 Estimate 10,113 91,476 170,753

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Households 2,288 29,893 60,063

▪ 2018 Estimate

Total Households 2,260 29,682 59,013

Average (Mean) Household Size 2.74 2.52 2.50

▪ 2010 Census

Total Households 2,230 29,416 58,454

▪ 2000 Census

Total Households 2,219 30,501 59,022

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2018 Estimate

$200,000 or More 13.29% 10.43% 12.29%

$150,000 - $199,999 13.55% 8.14% 9.58%

$100,000 - $149,000 24.75% 17.49% 17.67%

$75,000 - $99,999 10.66% 11.25% 11.05%

$50,000 - $74,999 13.12% 16.19% 14.69%

$35,000 - $49,999 7.65% 10.39% 9.60%

$25,000 - $34,999 6.41% 8.76% 8.39%

$15,000 - $24,999 4.73% 8.19% 7.71%

Under $15,000 8.90% 10.55% 10.41%

Average Household Income $131,953 $108,305 $116,308

Median Household Income $102,922 $69,733 $76,224

Per Capita Income $48,984 $42,345 $45,750

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population By Age

2018 Estimate Total Population 6,317 76,669 150,943

Under 20 26.06% 23.88% 23.90%

20 to 34 Years 16.56% 21.31% 19.25%

35 to 39 Years 4.41% 6.05% 6.06%

40 to 49 Years 11.44% 11.81% 12.32%

50 to 64 Years 22.56% 20.59% 21.42%

Age 65+ 18.99% 16.38% 17.03%

Median Age 43.05 38.95 40.68

▪ Population 25+ by Education Level

2018 Estimate Population Age 25+ 4,158 52,502 104,784

Elementary (0-8) 2.45% 4.68% 3.81%

Some High School (9-11) 4.78% 5.22% 4.95%

High School Graduate (12) 28.28% 29.80% 26.04%

Some College (13-15) 16.67% 17.90% 17.66%

Associate Degree Only 7.04% 6.26% 6.53%

Bachelors Degree Only 24.13% 21.43% 24.01%

Graduate Degree 16.27% 13.34% 15.74%

OFFERING

MEMORANDUM

Santander Bank Building241 Monmouth Rd. West Long Branch, NJ 07764

Marcus & Millichap’s New Jersey BOR: Brian Hosey