Disclaimer NAI Mountain Commercial (“Broker”) has been retained by the Buyer of Edwards Interchange Partnership LLLP / Edwards Interchange II LLLC in North Star Center (“Property”) as the exclusive broker for this Joint Venture opportunity. This Offering Memorandum has been prepared by Broker for use by the principal (“Principal”) to whom Broker has provided this Offering Memorandum. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the Confidentiality Agreement furnished by Broker and executed by Principal prior to delivery of this Offering Memorandum. Although the information contained herein is based upon sources believed to be reasonably reliable, Owner and Broker, on their own behalf, and on behalf of their respective officers, employees, shareholders, partners, directors, members and affiliates, disclaim any responsibility or liability for inaccuracies, representations and warranties (expressed or implied) contained in, or omitted from, the Offering Memorandum or any other written or oral communication or information transmitted or made available to the recipient of this Offering Memorandum. In amplification of and without limiting the foregoing, summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents but rather only outlines of some of the principal provisions contained therein, and no representations or warranties are made as to the completeness and/or accuracy of the projections contained herein. Prospective purchasers of the Property should make their own investigations and conclusions without reliance upon this Offering Memorandum, the information contained herein or any other written or oral communication or information transmitted or made available. Additional information and an opportunity to inspect the Property will be made available upon written request by interested and qualified prospective purchasers. Owner expressly reserves the right, exercisable in Owner’s sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Owner and Broker each expressly reserves the right, exercisable in their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. Broker is not authorized to make any representations or agreements on behalf of Owner. Owner shall not have any legal commitment or obligation to any 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, delivered and approved by Owner and the other party thereto and any conditions to Owner’s obligations hereunder have been satisfied or waived.

Table of Contents 06Section 01 Executive Summary 09 Section 02 Property Summary 15 Section 03 Market Overview 22 Section 04 Financials

Property Summary  25,075 square feet of rentable space  Existing multi-tenant facility with excess land  7.50 Acres total land area  Occupancy rate of 90%  Gravel parking surfaces to accommodate the parking or heavy equipment, campers, trailers and customer vehicles.  Located in the City of Steamboat Springs, CO Value-Add Investment  Income producing asset with substantial upside potential  The acre of land estimated at $2M with plus market value of $100,000 for excess land  Potential to add significant cash flow with continued leasing efforts  Extremely high visibility and traffic counts  Excellent tenant history with the current tenants in the center Executive Summary 6 Mountain West Business Park

1 Executive Summary MOUNTAIN WEST BUSINESS PARK Building Highlights Year Built1981 LocationUS Hwy 40 & Elk River Plaza No. Buildings 5 with 30% finish Square Feet 25,075 SF Total Land Size 7.50 Acres Occupancy 90%

Executive Summary 8 The Opportunity Mountain West Business Park and Undeveloped Excess Land The Opportunity This is an opportunity to purchase approximately 25,821 square feet of mixed use space spread among five separate buildings in the ever popular Steamboat Springs, CO. The Mountain West Business Park is in an excellent location with very high visibility, and direct access to US Hwy 40. This allows the Mountain West Business Park to have a solid tenant history with the current tenants in the building. The commercial facility is already an income producing asset with plenty of upside. With continued leasing efforts and building improvements the potential is there to add a significant amount of cash flow. Now is not the time to miss out on this income producing asset. Value Add Opportunity [ADD TEXT]

Property Summary 2 Property Overview 1885 Elk River Plaza, Steamboat Springs, CO ADD TEXT Property Description Add Text Building A: SAMPLE Lower Level: Commercial/RetailSAMPLE Street Level: Commercial/RetailSAMPLE Upper Level: ResidentialSAMPLE

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11 Property Aerial and Map Property Summary 2

Property Summary 2

Market Overview 6 Offering Highlights Premier Location with Favorable Demographics Premier Location  Located in the Steamboat Springs, one of Colorado’s most prestigious Resort Markets with year-round tourism destinations for events, conferences, and recreational activities  15 minute drive to Steamboat Ski Resort  Surrounding businesses include: Colorado Mountain Express, Wendy’s, Starbucks, Alpine Bank, Wells Fargo, Inn & Suites at Riverwalk, East West Resorts  Steps from Colorado Mountain College  Directly across the street from one of the busiest fueling stations and car washes in the upper valley. Favorable Demographics  Full-time resident population base of 20,000+ residents in Routt County  2.65 million skier visits from  High growth rates in population and median income compared to the state and country

Market Overview Travel Generated Earnings as a Percent of Total Earnings in Colorado Regions Source: Dean Runyan Associates, September 2011 – Economic Impact of Travel in Colorado In relation to the size of the total economy, travel is relatively more important in the Mountain Resort Region of the state, where nearly 12% of total earnings is travel-related.

Market Overview 2010 Demographic Information Within a 10 Minute Drive of Edwards, CO Population by Age Total 16,381 Employed Population 16+ by Industry Total 9,901 Population 25+ by Educational Attainment Total 12,664 Households by Income Total 6,527 Source: US Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012.US Census Bureau, Census

Market Overview 2010 Demographic Information Within a 10 Minute Drive of Edwards, CO Employed Population 16+ by Industry Total 9,901 Source: US Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012.US Census Bureau, Census Population by Race/Ethnicity Total 16,381 3

Market Overview Demographic Overview High Traffic Counts and Strong Consumer Spending 2012 Demographics5 Minute Drive10 Minute Drive15 Minute Drive Population9,67616,51221,431 Average Household Income$86,851$88,073$89,557 Total Households3,2965,9568, Traffic CountsVehicles Per Day Edwards Access Road17,000 Edwards Riverwalk Northwest (Hwy 6)11,100 Edwards Riverwalk Southeast (Hwy 6)12,300 Interstate 70 at Edwards exit30,000 Source: US Census Bureau, Census 2010 Summary File 1. Esri forecasts for

Market Overview 3 Property…………………………………………………………...The Northstar Building, 429 Edwards Access Road, CO Owner……………………………………………………Edwards Interchange Partnership LLLP / Edwards Interchange II LLLC Listing Agent/Office………………………………………………………………………………………NAI Mountain Commercial Year Built…………………………………………………………………………………………………………………………… Acreage…………………………………………………………………………………………………………………… Acres Rentable Square Feet………………………………………………………………………………………………………..25,318 SF Occupancy Rate …………………………………………………………………………………………………………………… 63% Parking Spaces ………………………………………………………………………………………………………… (approx) Net Operating Income (NOI) …………………………………………………………………………………………………$274,266 One Acre Parcel of Undeveloped Land Estimated At……………………..………………………………………………..$875,000 Asking Price: $5,500,000 Investment Summary Commercial Opportunity

Market Overview 3 Rent Comparable

Financials Static Cash Flow 2013 Investment Overview Per Square FootAnnualizedMonthly Income Rent$12.91$326,913$27,243 Ground Lease$0.00 Net Rent Revenue$12.91 $326,913 $27,243 NNN Reimbursement$4.52$114,510$9,542 Effective Gross income (EGI)$17.43 $441,423 $36,785 Operating Expenses Property Tax$2.80$70,981$5,915 Bank Service Charges$0.01$151$13 Common Area Cleaning$0.33$8,235$686 Fire Alarm monitoring$0.01$286$24 Property Management$0.78$19,800$1,650 Insurance$0.20$5,000$417 Landscaping$0.22$5,642$470 Building Repairs$0.34$8,653$721 Snow Removal$0.23$5,865$489 Supplies$0.06$1,508$126 Trash Removal$0.25$6,374$531 Telephone for Fire Alarm$0.06$1,631$136 Electric & Gas$0.64$16,253$1,354 Water-Sewer$0.66 $16,778 $1,398 Total Operating Expenses$7 $167,157 $13,930 Net Operating Income$10.43 $274,266 $22,855

Financials 5 Year Cash Flow Analysis 4