For Sale Max & Erma s 710 Gardner Road Springboro, Ohio

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1 For Sale Max & Erma s 710 Gardner Road Springboro, Ohio Offered at a Purchase Price of $3,000, Years Left on A 20 Year NNN Lease 8% CAP Rate Based on Income for 2012 For more Information Please contact: Todd Schiff Cell DD tschiff@rweiler.com 10 North High Street,Suite 401 Columbus, Ohio 43215

2 Max & Erma s Springboro, Ohio Section One.The Offering Section Two About the Tenant Section Three Site and Property Information Section Four Maps Section Five.Sold Market Comparables Section Six Average CAP Rate Chart

3 Max & Erma s Now Financially Stronger than Ever! The Offering: Investment Summary $3,000,000 Sales Price 8% CAP RATE (Based on 2012 Income) Absolute Net Net Net Lease 14 + Years Left on a 20 Year Term Built in 2006 Income increase in 2013 to $254,375 with increases every 5 Years Outstanding Location 5,906 Sq. Ft. Building 1.78 Acres The Robert Weiler Company is pleased to offer for Sale, a property for which they have an ownership interest, located in one of the fastest growing and hottest retail areas in all of Warren County Ohio. The Restaurant is located at the corner of a lighted intersection on Gardner and Lytle Five Points roads, right across the street from the new Key Bank on one corner, a new CVS on the other corner, and just down the street from the brand new Kohls on Gardner Rd. The address of the Max and Erma s is 710 Gardner Rd. Springboro, Ohio in Warren County. This street is home to a plethora of retailers including Kohl s, Ace Hardware, Moe s, Huntington Bank, Anytime Fitness, and too many others to mention. The Village Park Overall site plan is one of the most exciting new development areas to hit Warren County in years. Although the Max and Erma s was one of the first restaurants in the area, it s same store growth over last year landed them 5 th in the chain of almost 60 stores. About The Lease: The Max and Erma s is encumbered by a 20 year absolute net-lease that includes rental increases in years six (2012), eleven (2017), and sixteen (2022). The current lease is dated November 8, 2006 which means over 14 years still remain on the base term. An investor should truly expect a passive investment for the next 14+ years with options for another two (2) successive periods of ten (10) years each. All options have rental increases every five (5) years. The Offering

4 Max & Erma s: Financially Stronger then Ever Story Max & Erma s- financially stronger than ever: Max & Erma s is now Owned by Newport Fidelity Holdings, LLC and its operating company, American Blue Ribbon Holdings LLC. The company bought the chain and all of it s assets for close to $30 million in August of We are thrilled and excited with the acquisition of this well-known and quality brand, said Hazem Ouf, president and CEO of Fidelity Newport s unit Blue Ribbon Holdings, which also owns 267 Village Inn and Bakers Square restaurants in 25 states, including 177 corporate locations and 90 franchised units. Village Inn booked sales of $ million from 221 restaurants, and Bakers Square booked sales of $78.1 million from 45 locations for the fiscal year ended in March of About the Tenant We see Max & Erma s as a wonderful complement to our current portfolio of restaurants said, Hazem Ouf in a statement made in March of The buyer s extensive management experience in the restaurant industry, along with their strong financial backing, will significantly strengthen the Max & Erma s brand, said Mark A.

5 Press Release Article from Restaurant News About the Tentant

6 Continued Press Release from Restaurant News About the Tentant

7 Site and Property Information Location 710 Gardner Road Springboro, Ohio Warren County Sales Price: $3,000,000 CAP Rate: 8% ( Based on Income for 2012) Type of Ownership: Private Tenant: Max & Erma s Restaurant, Inc/American Blue Holdings, LLC Lease Commencement Date: 11/08/2006 Lease Expiration Date: 09/30/2026 Site and Property Information Options: 2 - (Ten) Year Options Lease Type: Absolute Net Lease Headquarters: Denver, Colorado Locations: 78 (52 Units Corporate Owned & 26Franchise Owned) Parcel Number: Size: 5,906 Year Built: 2006 Lot Size: 1.78 Acres

8 Site and Property Information Max and Erma's Springboro 20 Year Base Period Lease Purchase Price: $3,000,000 Base Rent Period November 8, 2006 Cap Rate November 7, 2011 $231, % November 8, 2011 November 7, 2016 $254, % current November 8, 2016 (*in 2012 rent is $242,812.44) 8% 2012 November 7, 2021 $279, % November 8, 2021 Site and Property Information November 7, 2026 $307, % Option 1 (10) year November 8, 2026 Two (10) year options: November 7, 2031 $338, % November 8, 2031 November 7, 2036 $372, % Option 2 (10) year November 8, 2036 November 7, 2041 $409, % November 8, 2041 November 7, 2046 $450, %

9 Site Map Site Map

10 Aerial Map Kohl s is less then 1 Mile Away Brand New Shopping Center Aerial Map

11 Sold Market Comparables Subject Property Max & Erma s 710 Gardner Road Springboro, Ohio List Price: $3,000,000 Rentable Sq. Ft.: 5,906 Year Built: 2006 CAP Rate: 8% Price per Sq. ft.: $ Max & Erma s 1281 Hill Road North Pickerington, Ohio Close of Escrow: 11/09/2011 Rentable Sq. Ft.: 5,985 Year Built: 2007 Sales Price: $3,080,000 CAP Rate: 7.86% Price per Sq. ft.: $ Sold Market Comparables Applebee s 2600 W State Street Alliance, Ohio Close of Escrow: 03/31/2011 Rentable Sq. Ft.: 4,320 Year Built: 2000 Sales Price: $2,050,000 CAP Rate: 7.86% Price per Sq. ft.: $474.54

12 Sold Market Comparables Continued Red Lobster 6091 Sawmill Road Dublin, Ohio Close of Escrow: 6/30/2011 Rentable Sq. Ft.: 7,028 Year Built: 2009 Sales Price: 1,700,000 CAP Rate: 6.75% Price per Sq. ft.: $ O Charley s 1657 Stringtown Road, Grove City Ohio Close of Escrow: 10/17/2011 Rentable Sq. Ft.: 6,211 Year Built: 2006 Sales Price: $2,215,232 CAP Rate: Price per Sq. ft.: $ Sold Market Comparables MacaroniGrill 6115 Parkcenter Circle Dublin, Ohio Close of Escrow: 07/05/2011 Rentable Sq. Ft.: 7,448 Year Built: 1997 Sales Price: $2,861,854 CAP Rate: 8.10% Price per Sq. ft.: $384.25

13 Average CAP RATE Chart Sold Market Comparables Average Cap Rate 11/09/2011 Sold Date 03/31/2011 Sold Date 06/30/2011 Sold Date 10/17/2011 Sold Date 07/05/2011 Sold Date