4790 SOUTH STATE STREET MURRAY, UTAH RAWLEY NIELSEN DARREN NIELSEN CLICK FOR FLY-OVER

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1 Representative Photo 4790 SOUTH STATE STREET MURRAY, UTAH CLICK FOR RAWLEY NIELSEN President - Investment Sales rawley.n@cbcadvisors.com FLY-OVER DARREN NIELSEN Associate darren.n@cbcadvisors.com

2 TABLE OF CONTENTS EXECUTIVE SUMMARY PROPERTY AND FINANCIAL SUMMARY BUILDING PHOTOS TENANT INFORMATION MARKET AREA Salt Lake City Office 15 W South Temple, Suite 950 Salt Lake City, UT This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. 2015

3 EXECUTIVE SUMMARY This investment opportunity brings a qualified investor a 3,956 square foot Wingers in Murray, Utah that is currently owned and operated by Wingers USA, Inc. With over 25 locations, Wingers, named best wings in the United States by USA Today, is one of the most popular restaurant chains in Utah and the Intermountain West. The sale-leaseback offering is a 15-year triple net (NNN) lease which is guaranteed by Wingers USA, parent of Winger s Restaurant and Ale House. The initial lease term is 15 years, with four 5-year options TENANT HIGHLIGHTS Owned and operated by Winger s USA, Inc. Wingers has 25 locations in 5 Western states Corporate lease guaranteed by Winger s USA, Inc. $8.5 million in corporate annual sales (Includes only the 8 stores wholly owned and operated by Wingers USA) LEASE STRUCTURE Corporate lease guaranteed by Winger s USA, Inc. 15 -year base term 10% rent escalations every 5 years (including option periods) Absolute triple net (NNN) No landlord obligations REAL ESTATE ANALYSIS Over $200,000 in planned interior & exterior improvements over next 6-12 months. Directly across the street from new Murray City Center development, and near new 53rd Center development Located directly on State Street, near I-15 ADT of 32,045 Surrounded by other major national retailers CLICK FOR FLY-OVER *Photo from Wingers in Boise, Idaho. Similar improvements will be made to subject property over the next year. Salt Lake City Office 15 W South Temple, Suite 950 Salt Lake City, UT

4 PROPERTY SUMMARY 4790 SOUTH STATE STREET MURRAY, UTAH Building Size: 3,956 square feet Lot Size: 0.66 acres Zoning: Commercial Year Built: 1989 (Effective Year: 2007) SALES PRICE: $1,582,400 CAP RATE: 6.25% LEASE SUMMARY Year 1 Monthly Rent: $ 8,242 Year 1 Annual Rent: $98,900 ($25/SF) Rent Commencement: Close of escrow Lease Expiration: 15 Years from close of escrow Rent Increase Date: Every 5 years Rent Increase Amount: 10.0% Lease Type: Absolute Triple Net (NNN) Options: Four 5-year options LEASE YEARS ANNUAL RENT CAP RATE 1-5 $98, % 6-10 $108, % $119, % OPTION YEARS $131, % $144, % $159, % $175, % Salt Lake City Office 15 W South Temple, Suite 950 Salt Lake City, UT

5 TENANT INFORMATION ABOUT THE TENANT Wingers opened its first location in Bountiful, UT in Wingers USA currently owns and operates 8 Wingers locations throughout the Western United States, with 17 other locations as Franchisees. Wingers USA corporate had gross sales of $8.5 Million in 2015 at the 8 corporately-owned locations, plus franchise fees nearing $900,000. WINGERS Wingers is a roadhouse-style chain serving wings, burgers, and hearty comfort-food plates, plus craft beers. Founded in 1993, Wingers has been named the best wings in the country by USA Today. With over 25 locations in Utah, Idaho, Oregon, Nevada, and Wyoming, the chain has an established track record of success that continues to make them a top restaurant destination in every city where they are located.

6 TENANT INFORMATION The initial conception of Winger s began back in the mid 1980 s, when my brother-in-law and I opened up a small counter-service food establishment, built inside an old 1940 s style train car, in downtown Salt Lake City. Back then it was called California C&R. We had all of the standard menu items - burgers, sandwiches, & salads, but we also created a new and unique recipe for our chicken wings and ribs that was like no other. It was not a traditional buffalo sauce, but a unique hot and sweet combination. We soon began to draw a huge following, and shortly thereafter started winning awards and drawing high profile guests from around the world. We soon realized that the great food items that we were developing would work even better in a full service, fun and casual restaurant. With this idea, the first Winger s restaurant opened in Bountiful, Utah in 1993, in what was still a very small (2800 sq. ft.) diner style building, but with the best food and service around! When Winger s opened its doors in 1993, one of our guiding principals was to serve The Favorite and Most popular food items of the day. Simply stated, this means that our Winger s menu is continually evolving with our customers tastes, but it is always done with our unique Winger s touch. While we have always been known for our World Famous Wings with Original Amazing Sauce, we have also now added our equally popular Sticky Finger s, among many other menu items that have become favorites over the years. The Winger s concept has also evolved to add a fun and exciting bar area that greatly compliments our Winger s dining, complete with big screen TV s and entertainment to compliment the now World Famous food that our guests always get. With our parent company having over 30 years in the full service restaurant business, we have always had a passion to be the leader in our industry. Winger s service and guest focus is second to none. We look for our Winger s Franchise Partners to also carry that same passion for being the best. We know that Winger s has the best food, service, and fun atmosphere around, but we also know that it only happens because of the quality of people that make the Winger s family! From all of our staff at each restaurant, to each of our Franchise Partners, to everyone at our corporate office, Winger s has become successful because of the people who have become our extended family. It takes a deep commitment to be the best in the restaurant and bar industry, and it is that passion that is instilled in everything we do. Eric Slaymaker, President Winger s USA, Inc. Winger s Franchising, Inc. Salt Lake City Office 6550 South Millrock Dr., Suite 200 Salt Lake City, UT

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8 VISION Wingers serves the best Wings, Fingers, and Craft Beers in the world! From the minute you enter our doors, it is our goal to make your Wingers dining experience the best you ve ever had. Wingers Restaurant & Ale House combines extraordinary handmade food, craft beer, drink, friendly hospitality, and fun, with an energetic atmosphere that makes dining out one of life s great pleasures. It s Freaking Amazing! CULINARY TEAM Wingers has brought together a world-class culinary team, led by acclaimed Executive Chef and Managing Partner Dave Prows, and Executive Chef and author, Shawn Bucher. Together, Chef Prows and Chef Bucher have formed one of the top culinary organizations in the country.

9 FUN, FRIENDS, ATMOSPHERE Wingers Restaurant & Ale House is a high energy, fun atmosphere, where friends and family always feel welcome. From the new contemporary rustic design, to large screen TV s, and Rock & Roll, Wingers is the perfect place for families and friends to gather and have a great time. Named BEST WINGS IN AMERICA by USA TODAY

10 CURRENT PROPERTY PHOTOS Salt Lake City Office 15 W South Temple, Suite 950 Salt Lake City, UT This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. 2015

11 CURRENT PROPERTY PHOTOS Salt Lake City Office 15 W South Temple, Suite 950 Salt Lake City, UT This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. 2015

12 COMING RENOVATIONS BEFORE AFTER Salt Lake City Office 15 W South Temple, Suite 950 Salt Lake City, UT This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. 2015

13 COMING RENOVATIONS PRE-RENOVATION FINISHES POST-RENOVATION FINISHES Salt Lake City Office 15 W South Temple, Suite 950 Salt Lake City, UT This statement with the information it contains is given with the understanding that negotiations relating to the purchase, renting or leasing of this property shall be conducted through this office. The information while not guaranteed has been secured from sources we believe to be reliable however, it is up to the buyer or tenant to verify the information and conduct appropriate due diligence. Coldwell Banker Commercial and its logo are registered service marks owned by Coldwell Banker Real Estate, LLC. Each Office is Independently Owned and Operated. All Rights Reserved. 2015

14 4790 SOUTH STATE STREET MURRAY, UTAH 84107

15 STATE OF UTAH ACCOLADES Pew Utah #2 in Nation for Income Growth 2016 Forbes magazine ranked Utah the Best State for Business in 2010, 2011, 2012, and 2015 Pollina Corporate Real Estate ranked Utah as the No. 1 Pro Business State in 2012, 2013, 2014, and 2015 CNBC ranked Utah no. 3 for America s Top States for Business Utah is one of only ten states in the nation to hold a Triple-A credit rating from all three major credit rating agencies INVESTING Yearly venture capital investments total $954 million Venture capital investments have increased 500% in 5 years ENERGY Electric power and natural gas rates are among the nation s lowest SALT LAKE COUNTY ACCOLADES Inc. Magazine ranked Salt Lake City #3 in the country by tech startup funding dollar-per-deal Associated Press named Salt Lake City #12 in the country for tech startup funding Glassdoor ranked Salt Lake City #6 on its list of best U.S. cities to move to for a job Brookings named Salt Lake City the #5 hottest U.S. metro for advanced industries BROADBAND Salt Lake City is 1 of only 8 cities in the world with Google Fiber TRANSPORTATION Nate Silver ranked Salt Lake City as the #5 best airport in the country Average daily employee commute time is 21 minutes Salt Lake County is at the center of UTA s public rail transit system, with the TRAX and FrontRunner lines combining for nearly 83,000 boardings per day TRANSPORTATION Average daily employee commute time is 21 minutes The Utah Transit Authority (UTA) operates a robust public transportation system, which serves 7 Counties on the Wasatch Front WORKFORCE Population of million Labor Force of over 2.6 million Seasonally adjusted unemployment rate of 3.5% $3,877 is the average monthly wage 92,900 established businesses Job growth projected at 2.8 percent throughout 2020 As reported by NPR, the most common job in Utah is software engineer WORKFORCE UTAH Population of 1.1 Million Labor force of 589,227 Seasonally adjusted unemployment rate of 3.8% $4,421 is the average monthly wage Employment payroll of $30.46 billion Yearly job growth of 3.2% Top three industries accounting for most job growth: professional/business services (3,846), construction (2,279), and government (1,575) Top three industries accounting for 42% of payroll jobs: professional/business services (17%), trade (15%), and healthcare/social services (9%) Salt Lake County, Utah *Data was aggregated by the Department of Workforce Services, ESRI Business Analyst, and the Governer s Office of Economic Development as of 2016

16 SALT LAKE CITY, UTAH 15 W. South Temple, Suite 950 Salt Lake City, UT (801) (801) Fax OFFICE LOCATIONS: COAST TO COAST Corporate Headquarters 6550 South Millrock Dr., Suite 200 Salt Lake City, UT