SINGLE TENANT ABSOLUTE NET INVESTMENT

1508 WOODLAND PARK DRIVE LAYTON, 84041 TABLE OF CONTENTS

EXECUTIVE PROPERTY SITE PLAN MAPS DEMOGRAPHICS TENANT 4 SUMMARY 5 OVERVIEW 6 8 11 13 PROFILE HOOK & REEL CONFIDENTIALITY HOOK & REEL AND DISCLOSURE

1508 WOODLAND PARK DRIVE Mountain West Commercial Real Estate has been retained on an exclusive basis to market the property LAYTON, UTAH 84041 described as 1508 Woodland Park Drive, Layton, Uah 84041. Broker has been authorized by seller of the property to prepare and distribute the enclosed information for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available PREPARED BY upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and the prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and /or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the Market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.

136 East South Temple, Suite 850 l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com 3 EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS

PRICING NEW LONG-TERM LEASE PURCHASE PRICE $1,875,000 Hook & Reel signed a brand new 10-year Absolute Net Lease with 2% rent increases every NET OPERATING INCOME $124,000 year. The lease includes one (1) 5-year options to extend. CAP RATE 6.60% REMODELED BUILDING The subject property is a 5,638 sq. ft. newly remodeled building. The projected opening date CURRENT RENT (ANNUAL) $124,000 for Hook & Reel is June 1st. The property is located on 0.985 acres of land that includes fifty (50) CURRENT RENT (PER SF ANNUAL) $22.00 parking stalls. LEASE INFORMATION OVERPASS EXPANSION The Utah Department of Transportation (UDOT) recently finished their overpass expansion TENANT TRADE NAME Hook & Reel conveniently connecting the west side of I-15 to the subject site and surrounding shopping areas. Franchisee of TENANT ACCESS AND VISIBILITY Hook & Reel The subject property is along Woodland Park Drive adjacent to Layton Hills Mall. The site has COMMENCEMENT DATE 6/25/2019 excellent visibility to I-15 (125,000 ADT) and has a freeway pole sign. The property can be entered EXPIRATION DATE 6/24/2029 by 2 access points. SURROUNDING AREA TYPE OF OWNERSHIP Fee Simple Woodland Park Drive connects the 2 main retail areas of Layton. Target/Lowes to the North and LEASE TYPE NNN Layton Hills mall to the South. The area has strong retail co-tenancy, office, hotels, and the Davis Convention Center. LEASE TERM 10 Years PROXIMITY TO HILL AIR FORCE BASE RENTAL INCREASES 2% Annually The subject property is located near Hill Air Force Base with 25,709 total personnel, including 5,788 EXTENSION OPTIONS One, 5-Year Option military, 3,361 military dependents, and 16,300 civilians. Hill Air Force Base (HAFB) has an annual federal payroll of $1.43 billion and annual expenditures of $760 million. Annually, HAFB creates PROPERTY TAXES Tenant Responsible approximately $1.38 billion in jobs created with a $3.6 billion total annual economic impact. HAFB INSURANCE Tenant Responsible is home to one of the largest fleets of the new F-35A Lightning II. HAFB is located within 80-miles UTILITES Tenant Responsible of the West Desert Training Range, which allows the fighter jets to train within a matter of minutes after taking off. For that reason, HAFB provides repair services for the F-35A Lighting II, F-22 MAINTENANCE Tenant Responsible Raptor, F-16 Fighting Falcon, A-10 Thunderbolt II, T-38 Talon, and LGM-30G Minuteman III. PROPERTY INFORMATION 1508 Woodland Park PROPERTY ADDRESS Dr, Layton UT BUILDING SF 5,638 OCCUPANCY 100% CROSS PARKING N/A CROSS EASEMENTS N/A

HOOK & REEL 4 136 East South Temple, Suite 850 l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com HOOK & REEL PROPERTY OVERVIEW

OPTIONS & ESCALATIONS LEASE TERM YEAR 1 June 25th, 2019 - June 24, 2020 $124,000.00 $10,333.33 YEAR 2 June 25th, 2020 - June 24, 2021 $126,480.00 $10,540.00 YEAR 3 June 25th, 2021 - June 24, 2022 $129,009.60 $10,750.80 YEAR 4 June 25th, 2022 - June 24, 2023 $131,589.79 $10,965.82 YEAR 5 June 25th, 2023 - June 24, 2024 $134,221.59 $11,185.13 YEAR 6 June 25th, 2024 - June 24, 2025 $136,906.02 $11,408.83 YEAR 7 June 25th, 2025 - June 24, 2026 $139,644.14 $11,637.01 YEAR 8 June 25th, 2026 - June 24, 2027 $142,437.02 $11,869.75 YEAR 9 June 25th, 2027 - June 24, 2028 $145,285.76 $12,107.15 WOODLAND PARK DR YEAR 10 June 25th, 2028 - June 24, 2029 $148,191.48 $12,349.29 0.985 AC OPTION 1 YEAR 1 June 25th, 2029 - June 24, 2030 $151,155.31 $12,596.28 YEAR 2 June 25th, 2030 - June 24, 2031 $154,178.42 $12,848.20 Year 3 June 25th, 2031 - June 24, 2032 $157,261.98 $13,105.17 Year 4 June 25th, 2032 - June 24, 2033 $160,407.22 $13,367.27 Year 5 June 25th, 2033 - June 24, 2034 $163,615.37 $13,634.61

&'%15 1425 N

130,000 ADT 1300 N PROPERTY DESCRIPTION

PARCEL NUMBER PARKING STALLS NORTHWEST ENTRANCE 101650012 50 LOT SIZE YEAR BUILT 0.985 Acres 1994 BUILDING SIZE 5,638 SF

136 East South Temple, Suite 850 l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com 5

PARCEL

LAYTON, UTAH F:\PROJECTS\SL\HARRIS\HOOK_REEL\OM\PARCEL.MXD - 5/17/2019 LPLANT SITE PLAN

HOOK & REEL 6 136 East South Temple, Suite 850 l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com HOOK & REEL

136 East South Temple, Suite 850 l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com 7 (

DAVIS MEDICAL( PLAZA 124,000 ADT 45,820 SF NORTH LAYTON JR HIGH QUAIL COVE ( 38,331 SF 1,063 STUDENTS 420 UNITS (

332 25,000ADT 58,000 ADT 23,000( SF ANTELOPE DR 27,000 ADT 13,000 ADT

LAYTON MARKET CENTER( 32,112 SF

FOX CREEK APARTMENTS

880( W 186 UNITS ( 24,464 SF

( THE STERLING VAE VIEW SCHOOL POINTE WASATCH 320 UNITS 357 STUDENTS KSG BUILDING( INTERMOUNTAIN AUTUMN HILLS 30,476 SF ACADEMY 21,000 ADTAPARTMENTS PARK EF DURBANO ( 72 UNITS PLACE OFFICE( 1 BUILDING

27,646( SF 24,170 SF

130,000 ADT SITE (

VILLAS ON MAIN LAYTON 144 UNITS MEADOWS 1425 N 334 UNITS

MAIN ST 1300 N &'%15

FALCON PARK

APARTMENTS HILL FIELDRD 228 UNITS

20,022( SF

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0 FRONTRUNNER 0 0 , 2 2

GORDON AVE 7,900 ADT GORDON AVE 9,100 ADT

331 45,000 ADT

28,000 ADT 129,000 ADT FERNWOOD PLACE ELLISON APARTMENTS 22,000 ADT PARK SCHOOL 74 UNITS 20,000 ADT 5 934 STUDENTS 0 AREA RETAIL 0 A D T (

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HERI PARK PLACE TAGE PARK BLVD 1550 N OFFICE( 2 MOU 32,000 SF HERITAGE WOODLAND PARK DR NTAIN VIEW ESTS PARK COMMONS( 20,582 SF SITE

1480 N

LAYTON HILLS PKWY LAYTON MEADOWS 1425 N 334 UNITS 1300 N 1425 N 1450 N

DRIVEWAY

NORTHWEST ENTRANCE

1350 N

&'%15

130,000 ADT TT MAP 1275 N

T S

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J LAYTON HILLS MALL DR 1225 N

21 ,0 00 A D T

20,022( SF

D 1120 N R 1150 N

350 W

300 W M D A L I E N I RD S RING F T

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T D A 1060 N 0 0 ,0 2 1050 N 2

400 W

GORDON AVE 7,900 ADT GORDON AVE 9,100 ADT GORDON AVE

45,000 ADT 1300 North

I-15 1425 North Woodland Park Drive HOOK & REEL DEMOGRAPHICS

POPULATION BUFFERS - 1, 3, 5 MILES Washington Ogden Roy Riverdale Terrace South Ogden 1 MILE 3 MILES 5 MILES Hooper 13,378 95,132 173,727 2018 EST. 2018 EST. 2018 EST. &'%84 Uintah POPULATION POPULATION POPULATION Clinton Sunset South Weber 5 MILES 1 MILE 3 MILES 5 MILES 14,351 104,446 190,074 West Point 2023 EST. 2023 EST. 2023 EST. POPULATION POPULATION POPULATION 3 MILES

Clearfield 1 MILE Syracuse F R AVERAGE HOUSEHOLD INCOME O TT MAP N ^ TR ^ U N N E Layton R

%15 1 MILE 3 MILES 5 MILES &' 4,622 29,218 51,831 2018 EST. 2018 EST. 2018 EST. HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS +,89

1 MILE 3 MILES 5 MILES $63,803 $83,915 $92,258 Kaysville

2018 EST. 2018 EST. 2018 EST. Fruit Heights INCOME INCOME INCOME

Farmington

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136 East South Temple, Suite 850 l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com 11 TENANT PROFILE

The first Hook & Reel Restaurant was opened in Lanham, in 2013, by founder Miller. Miller fancies himself as a gastronome and “foodie” extensively, exploring the food culture of many regions of this and other countries. One of his food explorations in 2008, centered around the vibrantly, flavorful and spicy cuisine of . He so enjoyed the Southern flavor profile, and spin on French Seafood, that he found himself often cooking many of the specialties he first had in New Orleans, for his friends and family. Miller decided that he would open his first restaurant so everyone could come and enjoy the “Cajun Experience” that his friends and family enjoyed so much. His pledge to all is that each Hook & Reel will only use the finest and freshest seafood, coupled with fresh garlic, lemon pepper, herbs and spices, and chili powder. All ingredients combine for a one of a kind aroma and finger licking experience that makes people want to come back over and over again. Hook & Reel is a rapidly growing casual family dining restaurant chain with 6 locations currently operating, with 29+ opening soon.

HOOK & REEL 12 136 East South Temple, Suite 850 l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com ^^ Open Now (! Opening Soon HOOK & REEL LOCATIONS IN THE UNITED STATES

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136 East South Temple, Suite 850 l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com 13 PREPARED BY

136 E. South Temple, Suite 805 l Salt Lake City, UT 84111 l Office 801.456.8800 l Fax 801.578.5500 l www.mtnwest.com