BURGER KING 504 N MAIN STREET TUSKEGEE, AL OFFERING MEMORANDUM

CONTENTS 03 EXECUTIVE SUMMARY 04 05 06 10 FINANCIAL OVERVIEW TENANT OVERVIEW PROPERTY OVERVIEW AREA OVERVIEW LISTED BY Gary Chou FVP & Senior Director gary.chou@matthews.com DIR 310.919.5827 MOB 714.928.8016 LIC # 01911222 (CA) Kevin Chang Associate kevin.chang@matthews.com DIR 310.919.5828 MOB 951.616.8918 LIC # 01976724 (CA) BROKER OF RECORD KYLE MATTHEWS LIC # 110253 (AL)

EXECUTIVE OVERVIEW INVESTMENT HIGHLIGHTS LONG-TERM, WORRY-FREE INVESTMENT Recent Remodel! This store was remodeled in 2013 and matches the latest Burger King prototypes! Long Term Lease Brand new 20-year lease with Four, 5-Year Options Absolute NNN Lease Tenant takes care of all landlord responsibilities including tax, insurance, maintenance, roof, and structure Growing Cash Flow There are 7.50% increases every 5 Years Excellent hedge against inflation! EXCELLENT TENANT WITH SECURE GUARANTY Nationally Recognized Operator Premier Kings was named franchise of the year in 2015 for all Burger King operations in North America It received trophies for being the Southeast Operator of the Year for two years in a row and won the marketing excellence award as well! High Growth Operator Established in 2011, Premier Kings currently owns and operates over 130 units with annual revenues exceeding $140M annually Secure Guarantee Over 46 units with long history of successful operations back the lease STRATEGICALLY LOCATED REAL ESTATE National Tenants in the immediate area include Church s Chicken, McDonald s, PNC Bank, CVS, AutoZone, Dollar General, Piggly Wiggly, Family Dollar, United States Postal Service, Pizza Hut, and Dollar Tree amongst others University Town Tuskegee is home to Tuskegee University, home to approximately 8,722 students - Burger King is the closest national eatery to campus 3

FINANCIAL OVERVIEW ANNUALIZED OPERATING DATA LIST PRICE $1,364,000 Monthly Rent Annual Rent Rent/SF Cap Rate Year 1-5 $6,250.00 $75,000 $22.27 5.50% Year 6-10 $6,718.75 $80,625 $23.94 5.91% Year 11-15 $7,222.66 $86,672 $25.73 6.36% Year 16-20 $7,764.36 $93,172 $27.66 6.83% Option 1 $8,346.68 $100,160 $29.74 7.35% Option 2 $8,972.68 $107,672 $31.97 7.90% Option 3 $9,645.63 $115,748 $34.37 8.49% Option 4 $10,369.06 $124,429 $36.94 9.12% TERM REMAINING ± 20 YEARS CAP RATE 5.50% TENANT SUMMARY Tenant Trade Name Type of Ownership Lease Guarantor Lease Type Roof & Structure Original Lease Term Lease Commencement Date Rent Commencement Date Lease Expiration Date Years Remaining Increases Options Burger King Fee Simple Premier Kings NNN Tenant Responsible 20 Years COE COE TBD ± 20 Years 7.50% Increases Every 5 Years Four, 5-Year Options 4

BURGER KING Burger King Worldwide operates the world s #3 hamburger chain by sales with almost 15,000 restaurants in the US and more than 100 other countries. In addition to its popular Whopper sandwich, the chain offers a selection of burgers, chicken sandwiches, salads, and breakfast items, along with beverages, desserts, and sides. Many of the eateries are stand-alone locations offering dine-in seating and drive-through services; the chain also includes units in high-traffic locations such as airports and shopping malls. Burger King Worldwide is owned and operated by Restaurant Brands International. GEOGRAPHIC OUTREACH Burger King has restaurant locations throughout the US and more than 100 other countries. The US and Canada are responsible for about 65% of revenues. Like most other giants of the fast-food industry, Burger King has expanded its nationwide and international presence primarily through franchising. STRATEGY Burger King has been remodeling outdated restaurant interiors and modernizing obsolete technology, thus positioning the company for future growth. Its goal is to have 40% of Burger King restaurants in the US and Canada on a modern image by the end of 2015. The company has also been steadily re-franchising locations with the goal of getting to a 100% franchised business model eventually. PREMIER KINGS, INC. Premier Kings, Inc. is an Alabama, Georgia, and Tennessee based Burger King ± 130-unit franchise. The company is owned by Patrick Sidhu who began working as a dishwasher as a teenager. Learning the restaurant business from the bottom up, he started as a shift manager and moved his way up to assistant manager, district manager, managing partner, director of operations, and finally vice president of operations. TENANT OVERVIEW PARENT COMPANY TRADE NAME RESTAURANT BRANDS INTERNATIONAL, INC OWNERSHIP PUBLIC REVENUE $1.15 B NET INCOME ± $233.70 M NO. OF LOCATIONS ± 15,000 NO. OF EMPLOYEES ± 34,248 HEADQUARTERED MIAMI, FL In addition to being named the Franchisee of the Year, Sidhu also received trophies for Southeast Operator of the Year two years in a row, segment winner for the 20- plus restaurant category, and won the marketing excellence award. Sidhu helped design the company s franchisee excellence program in 2014, which included the criteria of operations, marketing, sales and development, image and growth and profitability. Sidhu was the overall winner in the category of owning 20-plus stores. WEBSITE WWW.BK.COM YEAR FOUNDED 1953 5

PROPERTY OVERVIEW THE OFFERING THE PARCEL BURGER KING SITE DESCRIPTION Number of Stories One Year Built 2013 GLA Lot Size Landscaping Topography 504 N MAIN STREET TUSKEGEE, AL 36083 ± 3,368 SF ± 0.91 Acres (39,637 SF) Professional Generally Level Oceanside Blvd ± 31,792 College Blvd ± 40,116 6

SURROUNDING TENANTS 7

TUSKEGEE, AL Tuskegee is the largest city in Macon County, Alabama. The two major employers in Tuskegee are the Central Alabama Veterans Health Care System, a hospital complex run by the U.S. Veterans Administration, which employs 1,300 people, and Tuskegee University, which employs approximately 1,000 people and also houses over 8,722 students. Tuskegee University is a member of the NCAA Division II and competes within the Southern Intercollegiate Athletic Conference. Tuskegee University Rankings: 4th Place - 2017 U.S. News and World Reports HBCU Rankings 5th Place - Best Regional College in the South 6th Place - Best Colleges for Women in STEM programs 2nd Place - Baccalaureate Colleges MONTGOMERY, AL AREA OVERVIEW Montgomery is the capital city of Alabama and its second largest city. Comprised of Autauga, Elmore, Lowndes, and Montgomery counties, the Montgomery Metropolitan Area has experienced dramatic population growth in the past decade. In addition to housing many Alabama government agencies, Montgomery has a large military presence given it contains the Maxwell Air Force Base, a major military installation that employs over 12,000 people. Seven universities draw students from all over the nation, supplying the labor pool with high-quality candidates. Private companies have invested hundreds of millions of dollars to adapt old warehouses and office buildings into loft apartments, restaurants, retail, hotels, and businesses. Demand for downtown living space has risen, directly impacted by the continued influx of people and their desire for walkable, lively neighborhoods. More than 500 apartment units are under construction, including a new complex by the convention center. 10

MONTGOMERY ECONOMY As the state capital, Montgomery is home to state and regional governments, Maxwell/Gunter Air Force Base, an extensive service industry, wholesale and retail trade, tourism and an industrial base. It is this unique variety of industries that provide the city a well-balanced economic base. Montgomery s central location in Alabama s Black Belt along the Alabama River and extensive rail connections have allowed it to continue to be a regional distribution hub for a wide range of industries. Having already long been a processing hub for commodity crops such as cotton, peanuts, and soybeans, the city is transitioning into a cyber center with ease; Civilian technology jobs are projected to increase 37% by 2020. In lieu of this, agriculture remains the largest sector of employment in the area. Upon its economic expansion, Montgomery has also achieved increased employment in industries such as healthcare, business, government, and manufacturing. Due to its location along the Alabama River and extensive rail connections, Montgomery has and continues to be a regional distribution hub for a wide range of industries. Since the late 20th century, it has diversified its economy, achieving increased employment in sectors such as healthcare, business, government, and manufacturing. Today, the city s Gross Metropolitan Product is $12.15 billion, representing 8.7% of the gross state product of Alabama. 5-MILE DEMOGRAPHICS 2017 POPULATION 9,992 2017 HOUSEHOLDS 4,505 AVERAGE HOUSEHOLD INCOME $44,163 11

CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of Burger King located at 504 N Main Street, Tuskegee, AL 36083 ( Property ). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum for the Property, you agree: 1. The Offering Memorandum and its contents are confidential; 2. You will hold it and treat it in the strictest of confidence; and 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

BURGER KING 504 N MAIN STREET TUSKEGEE, AL OFFERING MEMORANDUM EXCLUSIVELY LISTED BY Gary Chou FVP & Senior Director gary.chou@matthews.com DIR 310.919.5827 MOB 714.928.8016 LIC # 01911222 (CA) Kevin Chang Associate kevin.chang@matthews.com DIR 310.919.5828 MOB 951.616.8918 LIC # 01976724 (CA) BROKER OF RECORD KYLE MATTHEWS LIC # 110253 (AL)