SINGLE TENANT INVESTMENT OPPORTUNITY JASPER, GEORGIA 2018 REMODEL SCHEDULED. Actual Site

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1 SINGLE TENANT 2018 REMODEL SCHEDULED INVESTMENT OPPORTUNITY JASPER, GEORGIA

2018 REMODEL SCHEDULED JOHN TOPPING ASSOCIATE 3400 Peachtree Road NE, Suite 1100 Atlanta,

354999 MATTHEW MOUSAVI MANAGING PRINCIPAL SRS NATIONAL NET LEASE GROUP 610 Newport Center

678.420.1386 Robert.Drake@srsre.com License No. 354792 PATRICK R.

2 2018 REMODEL SCHEDULED JOHN TOPPING ASSOCIATE 3400 Peachtree Road NE, Suite 1100 Atlanta, GA DL: License No MATTHEW MOUSAVI MANAGING PRINCIPAL SRS NATIONAL NET LEASE GROUP 610 Newport Center Drive, Suite 400 Newport Beach, CA DL: M: CA License No ROBERT DRAKE ASSOCIATE 3400 Peachtree Road NE, Suite 1100 Atlanta, GA DL: License No PATRICK R. LUTHER, CCIM MANAGING PRINCIPAL SRS NATIONAL NET LEASE GROUP 610 Newport Center Drive, Suite 400 Newport Beach, CA DL: M: CA License No

3 2018 REMODEL SCHEDULED

2018 REMODEL SCHEDULED 5 6 7 8 12 14 INVESTMENT SUMMARY INVESTMENT HIGHLIGHTS PROPERTY OVERVIEW PARCEL MAP AERIALS SITE PLAN AREA OVERVIEW DEMOGRAPHICS FINANCIALS TENANT SYNOPSIS This Offering

Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or

Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents.

4 2018 REMODEL SCHEDULED INVESTMENT SUMMARY INVESTMENT HIGHLIGHTS PROPERTY OVERVIEW PARCEL MAP AERIALS SITE PLAN AREA OVERVIEW DEMOGRAPHICS FINANCIALS TENANT SYNOPSIS This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/ or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.

INVESTMENT SUMMARY SRS is offering the opportunity to acquire Burger King with drive thru, an absolute NNN leased, single tenant, fee simple, investment property located in Jasper, Georgia.

5 INVESTMENT SUMMARY SRS is offering the opportunity to acquire Burger King with drive thru, an absolute NNN leased, single tenant, fee simple, investment property located in Jasper, Georgia. This Burger King has approximately 19 years remaining in the primary term with 4 (5-Year) option periods. The lease is guaranteed by GPS Hospitality (230+ unit operator) and features 7.5% increases every 5 years throughout the initial term and at the beginning of each of 4 (5-year) option periods. The lease is absolute NNN with zero landlord responsibilities and the property is scheduled to be remodeled in 2018, demonstrating the tenant s commitment to the site. This Burger King is located just off State Route 515 (23,800 vehicles per day) along W. Church Street (13,500 vehicles per day). The property is located within a dense, developing trade area with nearby national/credit tenants that include Walmart, Kroger, Ingles, the Home Depot, Dollar General, and more. The property benefits from its location within the trade area, as the surrounding tenants help increase consumer draw to the area. Within a 5-mile radius, there are 16,707 residents ($61,900 average household income) and 16,098 employees supporting the trade area. OFFERING PRICING $1,669,000 NET OPERATING INCOME: $95, CAP RATE: 5.75% GUARANTY: GUARANTOR: LEASE TYPE: LANDLORD RESPONSIBILITIES: PROPERTY SPECIFICATIONS Franchisee GPS Hospitality Acquisition Company, LLC (44 units) Abs. NNN None RENTABLE AREA: LAND AREA: 3,079 SF 1.42 Acres PROPERTY ADDRESS: 34 Sammy McGhee Boulevard, Jasper, GA YEAR BUILT: PARCEL NUMBER: OWNERSHIP: 1999 (2018 Remodel Scheduled) JA Fee Simple (Land and Building) 5 / BURGER KING / 34 SAMMY MCGHEE BOULEVARD, JASPER, GA INVESTMENT SUMMARY / SRS NATIONAL NET LEASE GROUP

INVESTMENT HIGHLIGHTS LEASE GUARANTEED BY EXPERIENCED FRANCHISE OPERATOR - GPS HOSPITALITY GPS Hospitality guaranteed lease Experienced operator with more than 230 Burger King and Popeye s franchises

6 INVESTMENT HIGHLIGHTS LEASE GUARANTEED BY EXPERIENCED FRANCHISE OPERATOR - GPS HOSPITALITY GPS Hospitality guaranteed lease Experienced operator with more than 230 Burger King and Popeye s franchises in 9 states NEW LONG TERM LEASE WITH RENT INCREASES New 20 year absolute NNN lease signed in September of 2015 with 19 years remaining in the current term 7.5% rent increases every 5 years during the initial term 4 (5-year) option periods with 7.5% increases at the beginning of each option SIGNALIZED HARD CORNER INTERSECTION DRIVE-THRU BUILDING Situated at the signalized, hard corner intersection of W. Church Street and Sammy McGhee Blvd. (13,500 vehicles per day) with excellent visibility and access Drive-thru feature provides ease and convenience for customers On average, stores with drive-thrus generate higher sales than those without LOCATED IN AFFLUENT 5-MILE TRADE AREA Over 16,700 residents and 16,000 employees support the trade area $61,900 average household income 6 / BURGER KING / 34 SAMMY MCGHEE BOULEVARD, JASPER, GA INVESTMENT HIGHLIGHTS / SRS NATIONAL NET LEASE GROUP

PROPERTY OVERVIEW ACCESS There are two (2) access points along Sammy McGhee Boulevard. PARCEL Acres: 1.42 Square Feet: 61,964 Parcel Number: JA10-000-053-000 TRAFFIC COUNTS W. Church Street:.

7 PROPERTY OVERVIEW ACCESS There are two (2) access points along Sammy McGhee Boulevard. PARCEL Acres: 1.42 Square Feet: 61,964 Parcel Number: JA TRAFFIC COUNTS W. Church Street:...13,500 State Route 515:...23,800 ZONING C-2: Commercial IMPROVEMENTS There is approximately 3,079 SF of existing building area. PARKING There are approximately 56 parking spaces on the owned parcel. The parking ratio is approximately 18.2 spaces per 1,000 SF of leasable area. YEAR BUILT 1999 (2018 Remodel Scheduled) 7 / BURGER KING / 34 SAMMY MCGHEE BOULEVARD, JASPER, GA PROPERTY OVERVIEW / SRS NATIONAL NET LEASE GROUP

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10 KNOXVILLE CHATTANOOGA GREENVILLE 2016 ESTIMATED POPULATION 1 Mile... 1,109 3 Mile... 10,161 5 Mile... 16, AVERAGE HOUSEHOLD INCOME 1 Mile...$42,503 3 Mile...$58,375 5 Mile...$61,979 JASPER 2016 ESTIMATED TOTAL EMPLOYEES 1 Mile... 8,935 3 Mile... 14,712 5 Mile... 16,098 ATLANTA AUGUSTA MACON N

11 Sammy McGhee Blvd. W. Church St. - 13,500 VPD Pylon Sign Jasper Professional Centre N

AREA OVERVIEW OF JASPER Jasper is the county seat of Georgia s smallest counties, Pickens County that is located in north central Georgia, at the southern end of the Blue Ridge Mountains.

A small town for most of its existence, Jasper is beginning to grow and change as a result of the continued expansion of the Atlanta metropolitan area.

Timber harvesting and mining continue to dominate the town s financial landscape. Jasper contains several points of interest.

The town hosts the Georgia Marble Festival during the first full weekend of each October.

12 AREA OVERVIEW OF JASPER Jasper is the county seat of Georgia s smallest counties, Pickens County that is located in north central Georgia, at the southern end of the Blue Ridge Mountains. The town is sixty miles north of Atlanta and eighty-five miles southeast of Chattanooga, Tennessee. According to the 2010 U.S. census, Jasper s population was 3,684. A small town for most of its existence, Jasper is beginning to grow and change as a result of the continued expansion of the Atlanta metropolitan area. Initially, Jasper attracted new light manufacturing businesses, a modern hospital, and the Pickens Area Vocational-Technical School (later Chattahoochee Technical College). Timber harvesting and mining continue to dominate the town s financial landscape. Jasper contains several points of interest. The Old Pickens County Jail, built in 1906, is on the National Register of Historic Places, and the Quinton-Kirby Cabin, built around 1860, is open to visitors. The town hosts the Georgia Marble Festival during the first full weekend of each October. Jasper s location in the Appalachian Mountains makes it an ideal place for a visit during the fall foliage season. The construction of Georgia 515, which connects to Interstate 575, has recently made Jasper a bedroom community for Atlanta, but the town still retains much of the character of its rural past. Royston, LLC and Lexington Insulators are the major employers in Jasper GA. The city s small town atmosphere lends itself to a friendly, mountain experience with good local restaurants. Local attractions are Sharp Mountain Vineyards, Big Canoe or Bent Tree, and Cherokee heritage. Just a short drive from Jasper is the town of Talking Rock where there are antique shops, a historic school house museum and artists displays. Piedmont Mountainside Hospital in Jasper offers a wide array of services including internal medicine and cardiology with a dedicated staff of over 95 doctors. Housing options cover the spectrum from entry-level low cost houses to high-end lifestyle developments featuring all amenities including championship golf courses. The new addition at the Pickens County High School features an 833 seat auditorium with hydraulic stage and an orchestra pit, a gym with tournament ready basketball courts as well as art, science, and band rooms. Also located in Jasper, Chattahoochee Technical College offers thirty-five courses of study that include six degree, thirteen diploma, and sixteen tech programs as well as specialized training and Quickstart programs. PIEDMONT MOUNTAINSIDE HOSPITAL BIG CANOE CHATTAHOOCHEE TECH DOWNTOWN JASPER 12 / BURGER KING / 34 SAMMY MCGHEE BOULEVARD, JASPER, GA AREA OVERVIEW / SRS NATIONAL NET LEASE GROUP

AREA OVERVIEW (CONTINUED) DEMOGRAPHICS 1 MILE 3 MILES 5 MILES 2016 Estimated Population 1,109 10,161 16,707 2021 Projected Population 1,134 10,592 17,492 2010 Census Population 1,110 9,840 16,090

13 AREA OVERVIEW (CONTINUED) DEMOGRAPHICS 1 MILE 3 MILES 5 MILES 2016 Estimated Population 1,109 10,161 16, Projected Population 1,134 10,592 17, Census Population 1,110 9,840 16,090 Projected Annual Growth 2016 to % 0.83% 0.92% 2016 Estimated Households 379 3,799 6, Projected Households 382 3,937 6, Census Households 387 3,730 6,136 Projected Annual Growth 2016 to % 0.72% 0.80% 2016 Estimated White 82.87% 92.01% 93.22% 2016 Estimated Black or African American 3.97% 2.51% 2.20% 2016 Estimated Asian or Pacific Islander 0.36% 0.37% 0.37% 2016 Estimated American Indian or Native Alaskan 0.90% 0.35% 0.34% 2016 Estimated Other Races 10.91% 3.26% 2.38% 2016 Estimated Hispanic 14.88% 5.62% 4.47% 2016 Estimated Average Household Income $42,503 $58,375 $61, Estimated Median Household Income $34,028 $43,937 $47, Estimated Per Capita Income $16,786 $22,905 $23, Estimated Total Businesses 459 1,034 1, Estimated Total Employees 8,935 14,712 16, / BURGER KING / 34 SAMMY MCGHEE BOULEVARD, JASPER, GA AREA OVERVIEW / SRS NATIONAL NET LEASE GROUP

RENT ROLL LEASE TERM RENTAL RATES TENANT NAME SQUARE FEET LEASE START LEASE END BEGIN MONTHLY PSF ANNUALLY PSF RECOVERY TYPE Burger King 3,079 Sept., 22 2015 Sept., 30 2035 Current $7,996.75 $2.

14 RENT ROLL LEASE TERM RENTAL RATES TENANT NAME SQUARE FEET LEASE START LEASE END BEGIN MONTHLY PSF ANNUALLY PSF RECOVERY TYPE Burger King 3,079 Sept., Sept., Current $7, $2.60 $95, $31.17 Absolute NNN Option 1: $128,153/yr Franchisee Guaranty Year 6 $8, $2.79 $103, $33.50 Option 2: $137,764/yr OPTIONS Year 11 $9, $3.00 $110, $36.02 Option 3: $148,097/yr Year 16 $9, $3.23 $119, $38.72 Option 3: $159,204/yr FINANCIAL INFORMATION PROPERTY SPECIFICATIONS Price:... $1,669,000 Net Operating Income:... $95, Cap Rate: % Lease Type:...Abs. NNN Year Built: (2018 Sched. Remodel) Rentable Area:...3,079 SF Parcel Number:... JA Land Area: Acres BURGER KING Burger King is the second largest fast food hamburger chain in the world. The original HOME OF THE WHOPPER, the Burger King system operates more than14,000 locations in approximately 100 countries and U.S. territories. Almost 100 percent of Burger King Restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. The Burger King brand is owned by Restaurant Brands International Inc. (TSX,NYSE:QSR), one of the world s largest quick service restaurant companies with more than $23 billion in system sales and over 19,000 restaurants. The Company was founded in 1954 and is headquartered in Miami-Dade County, Florida. Company Type:.Subsidiary to (NYSE: QSR) QSR 2015 Revenue:... $4.00 Billion QSR 2015 Net Income:... $375 Million QSR 2015 Assets:... $1.37 Billion QSR 2015 Equity:... $4.63 Billion 14 / BURGER KING / 34 SAMMY MCGHEE BOULEVARD, JASPER, GA RENT ROLL / SRS NATIONAL NET LEASE GROUP

15 SRS GLOBAL STATS 500+ PROPERTIES CURRENTLY REPRESENTED $180M+ HOW MUCH CLIENTS SAVED IN CLIENTS REPRESENTED IN 2014 *STATISTICS ARE FOR $1.8B* TRANSACTION VALUE 20+ OFFICES 280+ BROKERS, PROFESSIONALS, AND STAFF

Single. Tenant ABSOLUTE OPPORTUNITY. Bisbee, Arizona NNN INVESTMENT REPRESENTATIVE PHOTO

Single. Tenant ABSOLUTE OPPORTUNITY. Bisbee, Arizona NNN INVESTMENT REPRESENTATIVE PHOTO Single Tenant ABSOLUTE NNN INVESTMENT OPPORTUNITY Bisbee, Arizona REPRESENTATIVE PHOTO CONTENTS 2 CONTENTS INVESTMENT SUMMARY...3 HIGHLIGHTS...4 PROPERTY DESCRIPTION...5 AERIAL VIEW & SITE PLAN...6 AREA