RED ROBIN GROUND LEASE with BAJA FRESH & QUIZNOS SOUTH PLAINFIELD PLAZA Hadley Road South Plainfield, NJ 07080

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1 RED ROBIN GROUND LEASE with BAJA FRESH & QUIZNOS SOUTH PLAINFIELD PLAZA Hadley Road South Plainfield, NJ Price: $4,240,600 l NOI: $318,046 CAP: 7.5% Cash on Cash: 7.1% Phone: Fax: exp@exp1031.com Freestanding Red Robin ground lease with a Baja Fresh & Quiznos in a separate building Property provides easy access to major roadways including Route 1, I-287, the Garden 111State Parkway, and the New Jersey Turnpike Area retailers include Home Depot, Kohl s, Walmart, Lowe s, LA Fitness, Staples, 111and Burlington Coat Factory Directly across from Middlesex Crossroads anchored by Macy s Population of 94,000+ residents within 3 miles with average household income of $ Located in the heart of the thriving South Plainfield retail market 30 miles west of New York City 909,365 population with $105,289 average household income within 10 miles

2 Property Investment Line Overview Map PROPERTY OVERVIEW: EXP Realty Advisors exclusively presents for sale the 11,175 sf South Plainfield Plaza located on 2.94 acres of land in front of an LA Fitness and adjacent to Holiday Inn. Hampton Inn and Best Western are also located in the immediate area. The property contains an unsubordinated ground lease to a free standing Red Robin plus ownership of a building containing Quizno s and Baja Fresh. The buildings were constructed in 2005 and Located just off Route 287, the property is in the heart of a major retail market. The property in front of LA Fitness and directly across from Middlesex Crossroads, anchored by Macy s and including Walgreens, Taco Bell, Wells Fargo and Burlington Coat Factory. Other major retailers in the area include Target, Wal-Mart, Home Depot, Staples, and Lowes. Other notable retail destinations include the Woodbridge Center Mall, located 7 miles down Route 287. The Woodbridge Center Mall is over 1,600,000 sf of retail anchored by J. C. Penney, Lord & Taylor, Macy's and Sears. LOCATION OVERVIEW: South Plainfield is a dominant New Jersey retail market located 30 miles west of New York City, and approximately 60 miles northeast of Philadelphia. The property has easy access to major roadways such as Route 1, I-287, the Garden State Parkway and the New Jersey Turnpike. TENANT OVERVIEW: American Foods At South Plainfield, Inc. Franchisee of Red Robin with a $125,000 assignable security deposit. Red Robin (NYSE: RRGB) is a chain of casual dining restaurants founded in 1969 and based in Greenwood Village, Colorado. They currently have 450 locations throughout the United States. Garden State Horizon Investments, LLC Franchisee of Baja Fresh with a $100,000 assignable security deposit and a personal guarantee. Garden State Horizon Investment, LLC specializes as a provider of restaurant management services and development services. Baja Fresh is a chain of fast-casual Tex Mex restaurants founded in 1990 and headquartered in Cypress, California. Baja Fresh now operates 256 restaurants in 29 states. The chain emphasizes fresh ingredients, and each restaurant features a self-serve salsa bar. Dhapvit, Inc. Franchisee of Quizno s with a $17,500 assignable security deposit & two personal guarantees. Quizno s is a fast casual restaurant franchise based in Denver, Colorado and operates over 4,000 locations throughout the United States. The company specializes in offering toasted subs, although they may be served untoasted at the customer's request. It is the second-largest submarine sandwich shop chain in North America, after Subway. INVESTMENT SUMMARY Price: $4,240,600 CAP Rate: 7.5% Cash on Cash: 7.1% Cash Flow: $101,929 Red Robin Ground Lease Rent: $137,500 Quizno s & Baja Fresh Rent: $180,546 Bld. Sq Ft: 11,175 sf Land Size: 2.94 ac Lease Type: Ground lease and 2 reimbursable NNN Loan Balance: 2,805,642 Debt Service: $216,117 Interest Rate: 6.25% Amortization: 30 Years Maturity Date: 6/1/2016 INVESTMENT OVERVIEW

3 Investment Property Rent Roll Line and Overview Map Assumable Debt Information Tenant Name Area SF Lease Term Annual Rent 2012 Rent/SF Lease Expenses Lease Options Red Robin 6, years 6/12-6/16: $137,500 $19.36/sf Reimbursable NNN. 4X5 Ground lease (6/06-6/26) 6/16-6/21: $151,250 Tenant is responsible for roof 10% every 5 The tenant built and paid for the building. Upon lease expiration ownership of the building reverts to the landlord. 6/21-6/26: $166,375 and structure and sidewalks. Landlord performs CAM and is reimbursed plus a 10% administrative fee. Baja Fresh Landlord owns the building and the land. Quizno's Landlord owns the building and the land. 3, years (12/05-12/20) 1, years (4/06-4/16) 12/12-12/15: $122,796 12/15-12/18: $132,006 12/18-12/20: $141, TOTALS 11,175 $318,046 $33.00/sf Reimbursable NNN. Landlord maintains the roof and structure and performs CAM and is reimbursed by the tenant. 4/11-4/16: $57,750 $35.00/sf Reimbursable NNN. Tenant is responsible for sidewalks & HVAC. Landlord maintains the roof and structure and performs CAM and is reimbursed by the tenant. Price $4,240,600 Equity $1,434,971 Net Operating Income $318,046 Cash Flow $101,929 Existing Loan Current Loan Balance $2,805,642 Debt Service $216,117 Interest Rate 6.25% 30 Year Amortization Due on 6/1/2016 Balloon $2,503,667 Defeasance Premium as of 6/1/2012 $563,567 Defeasance Transaction Cost $50,000 5X5 10% every 5 3X5 10% every 5 RENT ROLL

4 Investment Property Line Photographs Overview Map Pylon Sign PROPERTY PHOTOGRAPHS

5 Area Property Floor History PlanLine Map FLOOR PLAN

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8 Property Location Line Map Map LOCATION MAP

9 Property Demographic Line Data Map Radius 3 Mile 5 Mile 10 Mile Population: 2015 Projection 95, , , Estimate 94, , , Census 92, , ,440 Growth % 1.10% 1.10% Growth % 4.40% 4.30% 2010 Population by Race: White 41, , ,903 Black or African American 18,533 55, ,379 American Indian and Alaska Native ,305 Asian 25,244 56, ,200 Native Hawaiian and Pacific Islanders Other Race 5,601 26,335 70,508 Two or More Races 3,113 10,965 28, Households: 2015 Projection 31, , , Estimate 31, , , Census 30,302 99, ,068 Growth % 1.00% 0.90% Growth % 3.40% 3.40% Owner Occupied 21,570 65, ,582 Renter Occupied 9,534 38, , Avg Household Income $98,283 $99,559 $105, Med Household Income $80,964 $78,626 $79, Per Capita Income $33,454 $34,176 $37, Households by Household Inc: Income Less than $15,000 1,210 5,860 16,479 Income $15,000 - $24,999 1,246 5,320 16,062 Income $25,000 - $34,999 1,172 5,043 15,266 Income $35,000 - $49,999 1,810 7,515 23,985 Income $50,000 - $74,999 8,030 24,280 72,413 Income $75,000 - $99,999 6,637 18,444 56,362 Income $100,000 - $149,999 7,089 21,505 64,582 Income $150,000 - $249,999 3,194 11,718 37,698 Income $250,000 - $499, ,826 11,373 Income $500,000 or more ,204 Contact Us EXP Realty Advisors 118 East 28 th Street Suite #901 New York, NY Phone: (212) Fax: (212) Our Team Robert P. James President Phone: (212) rob@exp1031.com Daniel de Sa Director of Sales Phone: (212) dan@exp1031.com DEMOGRAPHIC DATA