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Arby's 7095 Engle Road | Middleburg Heights (Cleveland), Ohio 44130 Offered Exclusively by Confidentiality and Restricted Use Agreement

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Arby's 7095 Engle Road | Middleburg Heights (Cleveland), Ohio 44130 Offered Exclusively by Confidentiality and Restricted Use Agreement Subject Property Offering Memorandum Arby's 7095 Engle Road | Middleburg Heights (Cleveland), Ohio 44130 Offered Exclusively by Confidentiality and Restricted Use Agreement This Confidential Offering Memorandum (“COM”) is provided by Stan Johnson Company (“SJC”), Jeff McKinney solely for your consideration of the opportunity to acquire the commercial property described herein Associate Director (the “Property”). This COM may be used only as stated herein and shall not be used for any other [email protected] OH Lic. #BRK.2016002560 purpose, or in any other manner, without prior written authorization and consent of SJC. This COM does not constitute or pertain to an offer of a security or an offer of any investment contract. This COM contains descriptive materials, financial information and other data compiled by SJC for the convenience of parties who may be interested in the Property. Such information is not Stan Johnson Company all inclusive and is not represented to include all information that may be material to an evaluation 5749 Park Center Court of the acquisition opportunity presented. SJC has not independently verified any of the information Toledo, Ohio 43615 contained herein and makes no representations or warranties of any kind concerning the accuracy or P: +1 419.419.0639 completeness thereof. All summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial stanjohnsonco.com statements, which upon request may be made available. An interested party must conduct its own independent investigation and verification of any information the party deems material to consideration of the opportunity, or otherwise appropriate, without reliance upon SJC. The Property may be financed or withdrawn from the market without notice, and its owner(s) reserve(s) the right to negotiate with any number of interested parties at any time. The Property is offered and sold by its owner(s) as is, where is, and with all faults, without representation or warranty of any kind except for any customary warranties of title. BY ACCEPTING THIS COM, YOU AGREE THAT: (1) all information contained herein, and all other information you have received or may hereafter receive from SJC relating to the Property, whether oral, written or in any other form (collectively, the “Information”), is strictly confidential; (2) you will not copy or reproduce, and claim as your own without attribution to SJC, all or any part of this COM or the Information; (3) upon request by SJC at any time, you will return and/or certify your complete destruction of all copies of this COM and the Information; (4) for yourself and all your affiliates, officers, employees, representatives, agents and principals, you hereby release and agree to indemnify and hold harmless SJC all of its affiliates, officers, employees, representatives, agents and principals, from and with respect to any and all claims and liabilities arising from or related to the receipt or use of this COM and/or any other Information concerning the Property; (5) you will not provide this COM or any of the Information to any other party unless you first obtain such party’s acceptance and approval of all terms, conditions, limitations and agreements set forth herein, as being applicable to such party as well as to you; and (6) monetary damages alone will not be an adequate remedy for a violation of these terms and that SJC shall be entitled to equitable relief, including, but not limited to, injunctive relief and specific performance, in connection with such a violation and shall not be required to post a bond when obtaining such relief. Arby's - Middleburg Heights (Cleveland), OH • 2 The Offering DETROIT $ Offering Price$2,422,508 % Cap Rate 6.5% Stan Johnson Company (“SJC”), on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% fee simple interest in the single tenant retail property located at 7095 Engle Road, Middleburg Heights (Cleveland), Ohio 44130 (the “Property”). The Property is positioned is along one of Middleburg Heights’ primary retail corridors with exceptional access to nearby Interstate 71. Constructed in 2003, the Property encompasses a ±2,457 SF building on a large ±1.08-acre parcel. It features a drive thru. Arby’s Restaurant Group, Inc., now Inspire Brands, is operating under a 10-year base CLEVELAND term of which more than four (4.8) years currently remain with four, five-year options to immediately follow. Each option also offers a five (5%) percent increase in base rent from the proceeding period. The Absolute NNN lease is a truly passive investment opportunity with no Landlord responsibilities for the life of the lease. Arby's is an American quick-service fast-food sandwich restaurant chain with more than 3,300 restaurants system wide. In October 2017, Food & Wine called Arby's "America's second largest sandwich chain." Arby's is owned by Inspire Brands, the renamed Arby's Restaurant Group, Inc. (ARG). ARG was renamed as the company took over ownership of Buffalo Wild Wings on February 5, 2018. Roark Capital Group acquired 81.5% of Arby's Restaurant Group in July 2011 and now wholly owns Inspire Brands. Investment Highlights Corporate Lease Guarantee | The lease is corporately guaranteed by Atlanta, Georgia-based Roark Capital Group, a private equity firm that focuses on investing in franchise and brand management companies. Roark Capital Group acquired the majority ownership in Arby’s Restaurant Group in 2011. Absolute NNN Lease with No LL Responsibility | Lease features no Landlord responsibilities of the Property throughout the term and option periods. Retail Corridor with Exceptional Access to Nearby Interstate 71 | The Property is situated along one of Middleburg Heights’ primary retail corridors with exceptional access to nearby Interstate 71 (117,410 VPD). Long Operating History | The Property was purpose-built in 2003 and has been continuously operated as an Arby's throughout its history. Large Parcel Size | The Property features a large parcel size in excess of an acre allowing for potential future development. Subject Property Arby's - Middleburg Heights (Cleveland), OH • 3 Lease Abstract Rent Schedule Annual Monthly Rent DBA Arby's Years Dates Increase Rent Rent PSF Guarantee Corporate Base 1/1/2019 – 12/31/2023 $157,463 $13,122 $64.09 7095 Engle Road Address: Middleburg Heights (Cleveland), Ohio 44130 Option 1 1/1/2024 - 12/31/2028 $165,336 $13,778 $67.29 5.00% Building Size (SF): 2,457 Option 2 1/1/2029 - 12/31/2033 $173,603 $14,467 $70.66 5.00% Lot Size (Acres): 1.08 Option 3 1/1/2034 - 12/31/2038 $182,283 $15,190 $74.19 5.00% Year Built: 2003 Option 4 1/1/2039 - 12/31/2043 $191,397 $15,950 $77.90 5.00% Rent Commencement: December 16, 2003 Lease/Rent Expiration: December 31, 2023 Lease Term Remaining: 4.8 Annual Base Rent: $157,463 Lesser of 5% base rent increase or CPI Rental Increases: increase every 5 years Percentage Rent: 3% of Gross Sales in excess of $2,250,000 Renewal Options: 4, 5-year options Lesser of 5% base rent increase or CPI Option Increases: increase at each option Lease Type: Absolute NNN Landlord Responsibilities: None Ownership Interest: Fee Simple Encumbrances: None, Delivered Free & Clear Representative Photo Arby's - Middleburg Heights (Cleveland), OH • 4 Tenant Overview Arby's is an American quick-service fast-food sandwich restaurant chain with more than 3,300 restaurants system wide and third in terms of revenue. In October 2017, Food & Wine called TENANT PROFILE Arby's "America's second largest sandwich chain.” DBA Arby’s Arby's is owned by Inspire Brands, the renamed Arby's Restaurant Group, Inc. (ARG). ARG was renamed as the company took over ownership of Buffalo Wild Wings on February 5, 2018. Owner Inspire Brands Roark Capital Group acquired 81.5% of Arby's Restaurant Group in July 2011 and now wholly owns Inspire Brands. The Wendy's Company held a minority stake of 18.5% in Arby's after the Tenant Business QSR/Fast Casual Restaurant acquisition by Roark Capital; that share was reduced to 12.3% upon the purchase of Buffalo Wild Wings, and was sold back to Inspire Brands on August 16, 2018, for 450 million dollars, a 38 percent premium. Founded 1964 In addition to its classic Roast Beef and Beef 'n Cheddar sandwiches, Arby's products also Headquarters Atlanta, GA include deli-style Market Fresh line of sandwiches, Curly Fries and Jamocha Shakes. Its headquarters are in Sandy Springs, Georgia, a suburb of Atlanta which uses Atlanta mailing addresses. In 2015, there were 3,342 restaurants. There are locations in five countries outside the No. of Locations Approx. 3,300+ United States: Canada, Turkey, Qatar, United Arab Emirates, and Egypt. Website www.arbys.com Arby's - Middleburg Heights (Cleveland), OH • 5 Location Overview Middleburg Heights is a city in Cuyahoga County, Ohio, United States. The population is 15,550 per 2017 estimates. Middleburg Heights is a suburb of Cleveland, Ohio, and is situated on the southwest Middleburg Heights, OH Middleburg Heights, OH edge of the Greater Cleveland area. It is centrally located 15 minutes from downtown Cleveland; 25 minutes from Medina, Ohio; 40 minutes from Akron, Ohio; and less than two hours from Columbus, Ohio. Middleburg Heights has two separate direct access points to Interstate 71 at Bagley Road and at Pearl Road. This major highway provides a direct link between Cleveland and Columbus. Traffic counts on Interstate 71 at Bagley Road, in Middleburg Heights, exceed one hundred thousand vehicles per day. Cleveland, OH Cleveland, OH Interstate 71 also provides direct access to the Ohio Turnpike (Interstate 80) just three minutes to the south, and direct access to Interstate 480 less than five minutes to the north.
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