Representative Photo SERVICE STATION 62 RAINBOW ROAD, EAST GRANBY, CT 06026

Offering Memorandum NON-ENDORSEMENT & DISCLAIMER NOTICE

CONFIDENTIALITY & DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substi- tute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.

NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property. By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/ or purchas e of this net leas ed property.

SPECIAL COVID-19 NOTICE

All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision- making.) 2 CUMBERLAND FARMS SERVICE STATION 62 RAINBOW ROAD, EAST GRANBY, CT 06026

EXCLUSIVELY LISTED BY:

LAURIE ANN (L.A.) DRINKWATER, CCIM SETH J. RICHARD Senior Vice President Investments First Vice President Investments Senior Director - National Group Senior Director - National Retail Group Boston Office Manhattan Office Tel 617.896.7230 Tel 212.430.5164 Fax 866.262.3242 Fax 866.262.3242 [email protected] [email protected] Licenses: CT REB.0751880, Licenses: NY 10401275108, MA 147511, RI B 16787 CT RES-0764595, MA 149700

BROKER OF RECORD John Krueger License: REB.0752012 Phone: 0335157

3 Representative Photo TABLE OF CONTENTS

EXECUTIVE SUMMARY SECTION 1 05

INVESTMENT HIGHLIGHTS SECTION 2 07

PROPERTY DESCRIPTION SECTION 3 09

FINANCIAL ANALYSIS SECTION 4 18

MARKET OVERVIEW SECTION 5 21

4 Representative Photo EXECUTIVE SUMMARY

CUMBERLAND FARMS SERVICE STATION

5 OFFERING HIGHLIGHTS LOCATION HIGHLIGHTS CUMBERLAND FAMRS FAMRS SERVICE STATION CUMBERLAND // SUMMARY EXECUTIVE

OFFERING PRICE BUILDING SF TERM REMAINING $2,176,470 4,464 SF 20 Years

62 Rainbow Road, East Granby, CT 06026 VITAL DATA

Price $2,176,470

Cap Rate Terms Available Under Confidentiality4.25 % NOI – Contact Listing Agents $92,500 Lease Type Absolute NNN Ground Lease 40,831 5-Mile Population Ownership Type Leased Fee

Building SF 4,464 SF

Year Built 2021

Land Area 1.25 Acres Landlord Responsibilities None $136,740 Average Household Right of First Refusal Yes Income

20,900 Vehicles Per Day 6 INVESTMENT HIGHLIGHTS

CUMBERLAND FARMS SERVICE STATION

7 INVESTMENT HIGHLIGHTS CUMBERLAND FARMS SERVICE FARMS SERVICE STATION CUMBERLAND // HIGHLIGHTS INVESTMENT BUILDING SF OFFERING PRICE TERM REMAINING 4,464 SF $2,176,470 20 YEARS

ABOUT THE INVESTMENT • New 20-Year Absolute NNN Ground Lease • 8% Increase at the Beginning of Year 10 • Five 5-Year Options with 8% Increases Every Five Years • Brand New 2021 Construction • Corporate Guarantee by Cumberland Farms, Inc. Representative Photo • Zero Landlord Responsibilities

ABOUT THE LOCATION • Centrally Located on Rainbow Road – ADT: 20,900 • Five Minute Drive to Bradley International Airport • 15 Miles from Hartford, CT • 40,000+ People within 5-Mile Radius • AHHI: $136,000+ • One Mile from Metacomet Village – 576-Unit Affordable Housing Community • Over 8 Million SF of Office, Flex, and Industrial within 2 Miles • Close Proximity to Walgreens Distribution Center, FedEx Ship Center, Dollar Tree Distribution Center, Coca Cola Distribution Center, and others Representative Photo

8 PROPERTY DESCRIPTION

CUMBERLAND FARMS SERVICE STATION

9 PROPERTY DETAILS Marcus & Millichap is pleased to present the Cumberland Farms service station located at 62 Rainbow Road in East Granby, CT. Cumberland Farms is on a brand new 20 year ground lease with (5) – five year options. In year 10 of the lease, there is an 8% rent increase, as well as 8% increases per option period

CUMBERLAND FARMS SERVICE FARMS SERVICE STATION CUMBERLAND // DESCRIPTION PROPERTY allowing for steady growth in the NOI and hedging against inflation. The lease is corporately guaranteed by Cumberland Farms, Inc.

The subject property is located just 5 minutes away from Bradley International Airport and provides easy access to Interstate 91 and and is located along CT Route 20. It is also located among a number of retailers and industrial facilities. The other retailers in the market include Planet Fitness, Domino’s Pizza, Dunkin Donuts, Xtra Mart, C&S Wholesale Grocers, Advance Auto Parts and many others. Among the industrial facilities are Walgreens Distribution Center (686,000 SF), FedEx Shipping Center (146,033 SF), Dollar Tree Distribution Center (1M SF), Pepsi-Cola Distribution Center (75,000 SF), Tire Rack Distribution Center (304,000 SF), and a Domino’s Distribution Center (40,100 SF). Amazon has a fulfillment center in Windsor (1.5M SF) and plans to build a distribution hub down the road from the existing facility, which will add over 1,000 jobs. Metacomet Village, a 576-unit affordable housing community, is roughly one mile from the subject property.

There are a number of large employers in the area including UTC Aerospace Systems, Hamilton Sunstrand (a division of UTC) and Alstom Power, which was acquired by General Electric in November of 2015. There is over 8 million square feet of office, flex, and industrial space within two miles of the property, making this a very dense area for distribution and supply chain centers. Cumberland Farms is just 15 miles from downtown Hartford; ’s state capital and one of America’s oldest and most historic cities. The average household income is over $136,000 in a one-mile radius, making this a very affluent community.

CUMBERLAND FARMS SERVICE STATION

Property Address 62 Rainbow Road, East Granby, CT 06026

Year Built 2021

Property Type / Gas Station

Guarantor Cumberland Farms, Inc.

Lease Type Absolute NNN Ground Lease

Ownership Type Leased Fee

Term Remaining 20 Years

Options 5 5-Year Options

Landlord Responsibilities None

10 SITE PLAN

11 TENANT OVERVIEW CUMBERLAND FARMS SERVICE FARMS SERVICE STATION CUMBERLAND // DESCRIPTION PROPERTY CUMBERLAND FARMS cumberlandfarms.com

Once a one-cow dairy, Cumberland Farms operates more than 500 company-operated convenience stores and gas stations in about a dozen eastern seaboard states from to . The company operates its own grocery distribution and bakery operations to supply its stores, as well. Cumberland owns a two-thirds limited partnership in petroleum wholesaler LP, giving it the right to use and license Gulf Trademarks in Delaware, New Jersey, , most of , Pennsylvania, and the states. The first convenience-store operator in New England, Cumberland Farms was founded in 1939 by Vasilios and Aphrodite Haseotes. Through their partnership, the Cumberland Farms Group serves some 3,300 stations and ranks as one of the largest wholesalers of refined petroleum products in the Northeast and Mid-Atlantic states. In Addition to petroleum wholesaling and its convenience store business, Cumberland Farms is active in real estate. In late 2019, Cumberland Farms was bought by EG Group, a united Kingdom-based company that now operates 1,680 COMPANY TYPE PARENT YEAR FOUNDED convenience stores and gas stations across 31 states. SUBSIDIARY EG Group Ltd. 1938

2019 REVENUE # OF LOCATIONS # OF EMPLOYEES $6.3B 560 6,000

12 PARENT COMPANY OVERVIEW EG Group Ltd

EG Group is a leading global independent convenience retailer with a diversified portfolio of over 6,000 sites across ten countries in North America, Europe and Australia.

Founded in 2001 by Co-CEO’s Mohsin and with the acquisition of a single site in the UK, the Group provides an innovative approach to forecourt trading and a best-in-class customer experience for Grocery & Merchandise, Foodservice and Fuel; providing excellent service and good value, quality products at well maintained, convenient locations.

Our transformation has been built upon excellent relationships with a portfolio of international brand partners and strategic acquisitions, supported by our 44,000 employees globally who continuously deliver our products and services to up to 24 million customers per week and support the local communities in which we operate.

The company’s American brands include Cumberland Farms, Certified Oil, Fastrac, KwikShop, , QuikStop, TomThumb, TurkeyHill, and Loaf N Jug.

COMPANY TYPE COMPANY YEAR FOUNDED PARENT EG Group Ltd. 2001 CUMBERLAND FARMS SERVICE STATION // PROPERTY DESCRIPTION //CUMBERLAND STATION SERVICEFARMS 2019 REVENUE # OF LOCATIONS # OF EMPLOYEES $20B 6,000+ 44,000

13 Regional Map

CUMBERLAND FARMS

14 Local Map

CUMBERLAND FARMS

15 16 17 FINANCIAL ANALYSIS

CUMBERLAND FARMS SERVICE STATION

18 PRICING SUMMARY

SUMMARY PRICE $2,176,470 Down Payment $2,176,470 Building SF 4,464 SF Land Area 1.25 Acres Lease Type Absolute NNN Ground Lease Property Type Convenience Store / Gas Station Lease Commencement 3/1/2021 Lease Expiration 2/28/2041 Year Built 2021 Occupancy 100% RETURNS CAP RATE 4.25%Terms Available Under Confidentiality Cash-on-Cash 4.25% – Contact Listing Agents

19 Representative Photo TENANT SUMMARY CUMBERLAND FARMS SERVICE FARMS SERVICE STATION CUMBERLAND // ANALYSIS FINANCIAL

Tenant Name Square Feet Lease Start Lease End Increase Annual Rent Lease Type

Absolute NNN Cumberland Farms 4,464 3/1/2021 2/28/2031 $92,500 Terms Ground Lease Available Inc. 3/1/2031 2/28/2041 8% $99,900 Under Confidentiality Opt. 1 3/1/2041 2/28/2046 8% – Contact$107,892 Listing Agents Opt. 2 3/1/2046 2/28/2051 8% $116,523

Opt. 3 3/1/2051 2/28/2056 8% $125,845

Opt. 4 3/1/2056 2/28/2061 8% $135,913

Opt. 5 3/1/2061 2/28/2066 8% $146,786

20 MARKET OVERVIEW

CUMBERLAND FARMS SERVICE STATION

21 HARTFORD OVERVIEW

CUMBERLAND FARMS FARMS SERVICE STATION CUMBERLAND // OVERVIEW MARKET Known nationally for its role as a focal point for the American insurance industry, the Hartford metro is located in the center of Connecticut and houses the state capitol in Hartford and the University of Connecticut in Storrs. Overall, the region has a diverse economic background including aerospace, hydrogen/fuel cell technology, laser manufacturing and healthcare industries. Collectively over a half million people are employed in local industries.

METRO HIGHLIGHTS MAJOR EMPLOYERS EDUCATIONAL ATTAINMENT More than 37 percent of residents age 25 and older hold a EST. # OF EMPLOYER bachelor’s degree, while nearly 16 percent also have a graduate EMPLOYEES or professional degree. Harkema Services Inc 24,875 Aetna Inc 7,800 HIGH-INCOME HOUSEHOLDS The metro contains more higher-income households compared Alstom Inc 7,200 with the U.S. and has a 61 percent rate of homeownership. Laz Karp Partners LLC 7,000 CULTURALLY DIVERSE Connecticut General Corp 6,476 The Hartford Region is home to more than 150 local arts, cultural and heritage organizations and local athletics including the UConn Hartford Healthcare Corp 4,870 Huskies and the Travelers Championship PGA Tournament. Hartford Insurance Co 4,500 University of Connecticut 4,469

22 ECONOMY

► A large number of notable financial services and insurance companies are located in the metro including Cigna, Aetna, the Hartford, the Phoenix Cos. And Travelers Insurance.

► Hartford is a center for medical care, research and education. The city of Hartford is home to Hartford Hospital, the Institute of Living, Connecticut Children’s Medical Center, and Saint Francis Hospital & Medical Center. The University of Connecticut enrolls more than 32,000 students.

► Notable companies with significant operations in the metro include locally headquartered firms United Technologies Corp., Eversource Energy, and media giant ESPN. Other major employers include Hartford Financial Services Group Inc., Aetna Inc., and Virtus Investment Partners, Inc.

SHARE OF 2020 TOTAL EMPLOYMENT MARKET OVERVIEW // CUMBERLAND STATION SERVICE FARMS

18% 12% 15% 15% 7% EDUCATION & HEALTH PROFESSIONAL & TRADE, GOVERNMENT LEISURE & SERVICES BUSINESS SERVICES TRANSPORTATION & HOSPITALITY 23 UTILITIES DEMOGRAPHICS HIGHLIGHTS

40,831 POPULATION WITHIN 5-MILE RADIUS

15,957 $136,740 HOUSEHOLDS WITHIN 5-MILE RADIUS AVERAGE HOUSEHOLD INCOME

24 DEMOGRAPHICS

POPULATION 1 MILE 3 MILE 5 MILE

2019 Estimated Population 751 8,157 40,831

2024 Projected Population 748 8,159 41,120

Population Growth 2019 - 2024 -0.40% 0.02% 0.71%

Average Age 44 46 44

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2019 Estimated Households 360 3,284 15,957

Projected Household Growth 2019 - 2024 0.00% 0.64% 1.33%

Average Household Income $136,740 $125,634 $120,350

Average Household Size 2.5 2.5 2.4

2019 Average Vehicles Per Household 2.0 2.0 2.0

HOUSING 1 MILE 3 MILE 5 MILE

Median Home Value $298,318 $268,936 $259,347 CUMBERLAND FARMS SERVICE STATION // MARKET OVERVIEW // CUMBERLAND STATION SERVICE FARMS

Median Year Built 1974 1971 1970

25 CUMBERLAND FARMS SERVICE STATION

EXCLUSIVELY LISTED BY:

LAURIE ANN (L.A.) DRINKWATER, CCIM SETH J. RICHARD Senior Vice President Investments First Vice President Investments Senior Director - National Retail Group Senior Director - National Retail Group Boston Office Manhattan Office Tel 617.896.7230 Tel 212.430.5164 Fax 866.262.3242 Fax 866.262.3242 [email protected] [email protected] Licenses: CT REB.0751880, MA 147511, RI B 16787 Licenses: NY 10401275108, CT RES-0764595, MA 149700

26 Representative Photo