TACO BELL MONTICELLO, AR

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1 TACO BELL MONTICELLO, AR

2 LONG-TERM LEASE GUARANTEED BY ONE OF TACO BELL S LARGEST OPERATORS 2

Overview TACO BELL 435 US-425, MONTICELLO, AR 71655 $2,927,000 PRICE 5.35% CAP LEASABLE SF 2,490 SF LAND AREA 0.

3 Overview TACO BELL 435 US-425, MONTICELLO, AR $2,927,000 PRICE 5.35% CAP LEASABLE SF 2,490 SF LAND AREA 0.69 ACRES LEASE TYPE NNN LEASE EXPIRATION 2034 PARKING 30 SPACES High performing location pad to Super Walmart in college town Absolute NNN with zero landlord responsibilities 1% annual rent increases Guaranteed by a 260+ unit operator Located along primary retail corridor This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 3

Investment Highlights THE OFFERING provides an opportunity to acquire a high performing Taco Bell that is operated by one of the largest Taco Bell/KFC franchisees in the U.S.

4 Investment Highlights THE OFFERING provides an opportunity to acquire a high performing Taco Bell that is operated by one of the largest Taco Bell/KFC franchisees in the U.S. The 20 year lease expires in 2034, and features 1% annual rent increases in the base term and option periods. THE SUBJECT PROPERTY is located on U.S. Route 425, Monticello s primary north-south thoroughfare that benefits from traffic counts of over 14,000 vehicles per day (VPD). The Monticello Taco Bell location benefits from being located within the city s main retail node, and has great street visibility. Surrounding retail includes Walmart, Stage Stores, Hibbett Sports, and Dollar Tree. MONTICELLO, the county seat of Drew County, is a regional hub for Southeast Arkansas, generating traffic for its jobs, shopping and dining options, and weekend activities. The University of Arkansas at Monticello, a four-year liberal arts university with over 4,000 students, is located just three miles south of the subject property. Contact the team CHRIS KOSTANECKI ck@capitalpacific.com PH: CA BRE# CHRIS PETERS cpeters@capitalpacific.com PH: CA BRE# ZEB RIPPLE zripple@capitalpacific.com PH: CA BRE# JACK NAVARRA jnavarra@capitalpacific.com PH: CA BRE# % OF TACO BELL RESTAURANTS ARE OPERATED BY FRANCHISEES This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 4

HIGH SCHOOL 83 CITY OF MONTICELLO DREW COUNTY 15,000 VPD LITTLE ROCK E MCCLOY 83 278 This information has been secured from sources we

5 Aerial 7,260 VPD MONTICELLO HIGH SCHOOL 83 WG AINE UNIVERSITY OF ARKANSAS AT MONTICELLO S 278 MONTICELLO INTERMEDIATE SCHOOL DREW CENTRAL ELEMENTARY 14,000 VPD DREW HIGH SCHOOL MONTICELLO JR. HIGH SCHOOL 83 CITY OF MONTICELLO DREW COUNTY 15,000 VPD LITTLE ROCK E MCCLOY This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 5

Submarket Overview RETAILERS IN CLOSE PROXIMITY INCLUDE: AutoZone Goodyear Tire Murphy USA Commercial Bank Walmart SuperCenter Domino s Pizza Verizon Wireless Farmer s Insurance Union Bank &

secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information.

6 Submarket Overview RETAILERS IN CLOSE PROXIMITY INCLUDE: AutoZone Goodyear Tire Murphy USA Commercial Bank Walmart SuperCenter Domino s Pizza Verizon Wireless Farmer s Insurance Union Bank & Trust Dollar Tree Holiday Inn Express Walgreen s Sonic Drive-In Wendy s McDonald s Hampton Inn Monticello Subway Hibbett Sports Pizza Hut Economy Inn Express Stage This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. BUSINESS SUMMARY TOTAL 1-MILE 3-MILES 5-MILES Businesses Employees 2,793 5,124 5,748 Residential Population 3,149 10,067 12,856 KEY 1-MILE 3-MILES 5-MILES

7 Surrounding Retail 7

Income & Expense PRICE $2,927,000 Price Per Square Foot: $1,463.50 Capitalization Rate: 5.35% Total Rentable Area (SF): 2,000 Lot Size (AC): 0.69 STABILIZED INCOME PER SQUARE FOOT Scheduled Rent $78.

8 Income & Expense PRICE $2,927,000 Price Per Square Foot: $1, Capitalization Rate: 5.35% Total Rentable Area (SF): 2,000 Lot Size (AC): 0.69 STABILIZED INCOME PER SQUARE FOOT Scheduled Rent $78.29 $156,589 Effective Gross Income $78.29 $156,589 LESS PER SQUARE FOOT Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses NNN $0.00 EQUALS NET OPERATING INCOME $156,589 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 8

9 Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY TENANT NAME SQ. FT. TERM CURRENT RENT MONTHLY RENT YEARLY RENT MONTHLY RENT/FT YEAR RENT/FT Taco Bell 2,490 3/14/2014 3/13/2015 $12,540 $150,479 $5.04 $ /14/2015 3/13/2016 $12,665 $151,984 $5.09 $ /14/2016 3/13/2017 $12,792 $153,504 $5.14 $ /14/2017 3/13/2018 $12,920 $155,039 $5.19 $ /14/2018 3/13/2019 $156,589 $13,049 $156,589 $5.24 $ /14/2019 3/13/2020 $13,180 $158,155 $5.29 $ /14/2020 3/13/2021 $13,311 $159,736 $5.35 $ /14/2021 3/13/2022 $13,444 $161,334 $5.40 $ /14/2022 3/13/2023 $13,579 $162,947 $5.45 $ /14/2023 3/13/2024 $13,715 $164,577 $5.51 $ /14/2024 3/13/2025 $13,852 $166,222 $5.56 $ /14/2025 3/13/2026 $13,990 $167,885 $5.62 $ /14/2026 3/13/2027 $14,130 $169,564 $5.67 $ /14/2027 3/13/2028 $14,272 $171,259 $5.73 $ /14/2028 3/13/2029 $14,414 $172,972 $5.79 $ /14/2029 3/13/2030 $14,558 $174,701 $5.85 $ /14/2030 3/13/2031 $14,704 $176,448 $5.91 $ /14/2031 3/13/2032 $14,851 $178,213 $5.96 $ /14/2032 3/13/2033 $15,000 $179,995 $6.02 $ /14/2033 3/13/2034 $15,150 $181,795 $6.08 $73.01 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 9

10 Rent Roll (Continued) TENANT INFO LEASE TERMS RENT SUMMARY TENANT NAME SQ. FT. TERM CURRENT RENT MONTHLY RENT YEARLY RENT MONTHLY RENT/FT YEAR RENT/FT Option 1 3/14/2034 3/13/2035 $15,301 $183,613 $6.15 $ /14/2035 3/13/2036 $15,454 $185,449 $6.21 $ /14/2036 3/13/2037 $15,609 $187,304 $6.27 $ /14/2037 3/13/2038 $15,765 $189,177 $6.33 $ /14/2038 3/13/2039 $15,922 $191,068 $6.39 $76.73 Option 2 3/14/2039 3/13/2040 $16,082 $192,979 $6.46 $ /14/2040 3/13/2041 $16,242 $194,909 $6.52 $ /14/2041 3/13/2042 $16,405 $196,858 $6.59 $ /14/2042 3/13/2043 $16,569 $198,827 $6.65 $ /14/2043 3/13/2044 $16,735 $200,815 $6.72 $80.65 Option 3 3/14/2044 3/13/2045 $16,902 $202,823 $6.79 $ /14/2045 3/13/2046 $17,071 $204,851 $6.86 $ /14/2046 3/13/2047 $17,242 $206,900 $6.92 $ /14/2047 3/13/2048 $17,414 $208,969 $6.99 $ /14/2048 3/13/2049 $17,588 $211,058 $7.06 $84.76 Option 4 3/14/2049 3/13/2050 $17,764 $213,169 $7.13 $ /14/2050 3/13/2051 $17,942 $215,301 $7.21 $ /14/2051 3/13/2052 $18,121 $217,454 $7.28 $ /14/2052 3/13/2053 $18,302 $219,628 $7.35 $ /14/2053 3/13/2054 $18,485 $221,824 $7.42 $89.09 TOTALS: 2,490 $156,589 $13,049 $156,589 $5.24 $62.89 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 10

11 Lease Abstract PREMISE & TERM TENANT K-Mac Enterprises, Inc. BUILDING SF 2,490 SF LEASE TYPE NNN TERM 20 Years RENT COMMENCEMENT March 2014 EXPIRATION March 2034 OPTIONS Four 5-year options RENT BASE RENT DATE RANGE MONTHLY RENT ANNUAL RENT 03/14/ /13/2015 $12,540 $150,479 There is a 1% annual rent increase throughout both the initial term and option periods (Refer to Rent Roll on pages 9-10). OPTION RENTS DATE RANGE MONTHLY RENT ANNUAL RENT #1. 03/14/ /13/2035 $15,301 $183,613 #2.03/14/ /13/2040 $16,082 $192,979 #3. 03/14/ /13/2040 $16,902 $202,823 #4. 03/14/ /13/2050 $17,764 $213,169 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. EXPENSES LEASE PROVISIONS TAXES Tenant is responsible for direct payment of taxes to the taxing authority. INSURANCE Tenant shall maintain: (i) Property insurance; (ii) commercial general liability insurance in amounts no less than $1 million per occurrence; (iii) worker s compensation insurance with limits no less than $500,000; and (iv) business interruption insurance with sufficient limits to cover Base Rent for a period no less than 12 months. Lessor shall be named additional insured on each policy. All policies shall be issued by insurance companies licensed to do business in Arkansas, and rated A or better by Best s Key Rating. UTILITIES Tenant is responsible for direct payment of all utilities to the appropriate billing authority. TENANT S OBLIGATIONS Tenant is responsible for all maintenance and repair to the entirety of the Premises, including all interior and exterior, structural and nonstructural repairs and replacement. LANDLORD S OBLIGATIONS Zero expense obligations. ASSIGNMENT/SUBLETTING Tenant may assign the lease without Landlord consent, provided that Tenant remains liable for the Lease obligations throughout the Term, unless Tenant assigns the Lease directly to Yum Brands, Taco Bell Corp., or KFC Corporation. 11

ILLUMINATED PYLON SIGN 425 US 425 14,000 VPD 425 US 425 This site plan

12 Site Plan 2,490 RENTABLE SF 0.69 ACRES 30 SPACES N PARK DRIVE NORTH PARK SHOPPING CENTER N PARK DRIVE ILLUMINATED PYLON SIGN 425 US ,000 VPD 425 US 425 This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 12

Tenant Overview ABOUT TACO BELL Taco Bell is a chain of fast-food Mexican restaurants and a subsidiary of Yum! Brands, Inc (NYSE: YUM), which is also the parent company of KFC and Pizza Hut. Yum!, headquartered in Louisville, Kentucky.

13 Tenant Overview ABOUT TACO BELL Taco Bell is a chain of fast-food Mexican restaurants and a subsidiary of Yum! Brands, Inc (NYSE: YUM), which is also the parent company of KFC and Pizza Hut. Yum!, headquartered in Louisville, Kentucky. Taco Bell serves a variety of Tex-Mex foods including burritos, quesadillas, nachos, and more. Taco Bell serves more than 2 billion customers each year in more than 6,650 restaurants mostly in the United States. It is the largest (by sales) Mexican food concept in the country. With consistent growth, Taco Bell s grew by 6% worldwide in 2016, and plans to add approximately 2,350 restaurants worldwide by LOCATIONS IN 22 COUNTRIES 6,650+ #12 AMONG ENTREPRENEUR S TOP 500 FRANCHISES OF 2017 ABOUT THE FRANCHISEE Click here for more information This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. K-Mac Enterprises, founded in 1964 and based in Fort Smith Arkansas, is one of the largest Taco Bell operators in the United States. K-Mac Enterprises operates over 260 Taco Bell stores across 10 states primarily in the Midwest and in the South, and also specializes in the operation of KFC and Golden Corral. 13

Demographics POPULATION LITTLE ROCK (1 HR 25 MIN, 89 MILES) 1-MILE 3-MILES 5-MILES 2010 3,093 9,645 12,164 2017 3,149 10,067 12,856 2022 3,186 10,294 13,173 2017 HH INCOME 1-MILE 3-MILES 5-MILES

14 Demographics POPULATION LITTLE ROCK (1 HR 25 MIN, 89 MILES) 1-MILE 3-MILES 5-MILES ,093 9,645 12, ,149 10,067 12, ,186 10,294 13, HH INCOME 1-MILE 3-MILES 5-MILES Average $55,600 $54,248 $54,915 MONTICELLO TOP EMPLOYERS EMPLOYER Monticello School District The University of Arkansas at Monticello Walmart Stores, Inc. Drew Memorial Hospital Southeast Arkansas Education Service Cooperative THE AVERAGE HOUSEHOLD INCOME WITHIN A 5-MILE RADIUS IS OVER $54K This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 14

Location Overview MONTICELLO, ARKANSAS UNIVERSITY OF ARKANSAS MONTICELLO, located in southeastern Arkansas, is the county seat of Drew County.

15 Location Overview MONTICELLO, ARKANSAS UNIVERSITY OF ARKANSAS MONTICELLO, located in southeastern Arkansas, is the county seat of Drew County. Located approximately 95 miles southeast of Little Rock and 50 miles southeast of Pine Bluff, Monticello is within driving distance of larger cities such as Memphis (TN), Jackson (MS), and Dallas (TX). Monticello is home to the University of Arkansas at Monticello, a 4-year liberal arts university offering master s degrees, baccalaureate degrees, and associate degrees in a variety of fields serving nearly 4,000 students. In terms of recreation, Lake Monticello is a 1,500+ acre lake that has the reputation of being a trophy bass lake, attracting both residents and visitors from the region to enjoy its boating, fishing, picnic and playground facilities. EMPLOYMENT GROWTH EMPLOYMENT IN MONTICELLO has grown by 1.88% in the last year. Future job growth over the next ten years is predicted to be 37.96%. Education is important in South Arkansas, as such over 17% of the residents work for the University of Arkansas or for the Monticello School District. 9,753 MONTICELLO POPULATION (ESTIMATED) This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 15

We d love to hear from you. CHRIS KOSTANECKI ck@capitalpacific.com PH: 415.274.2701 CA BRE# 01002010 ZEB RIPPLE zripple@capitalpacific.com PH: 415.274.2702 CA BRE# 01242540 CHRIS PETERS cpeters@capitalpacific.

16 We d love to hear from you. CHRIS KOSTANECKI ck@capitalpacific.com PH: CA BRE# ZEB RIPPLE zripple@capitalpacific.com PH: CA BRE# CHRIS PETERS cpeters@capitalpacific.com PH: CA BRE# JACK NAVARRA jnavarra@capitalpacific.com PH: CA BRE# CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM: ZEB RIPPLE JOHN ANDREINI ZANDY SMITH JACK NAVARRA CHRIS KOSTANECKI JOE CACCAMO RICK SANNER CHRIS PETERS DAVE LUCAS AARON SUSMAN This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

lumber liquidators lumber liquidators in central michigan 5901 Brockway Rd, Saginaw, MI Representative Photo

Representative Photo lumber liquidators lumber liquidators in central michigan 5901 Brockway Rd, Saginaw, MI 48638 John Andreini jandreini@capitalpacific.com (415) 274-2715 CA DRE#: 01440360 Zeb Ripple