OFFERING MEMORANDUM

QUICKCHEK Carlstadt, NJ

Actual Site

Andrew Fallon Broker of Record Executive Managing Director Steven M. Savlov | Savlov Properties 703.787.4733 | [email protected] Lic#7865709 QuickChek | Financial Summary

Asking Price Cap Rate Rent Schedule $10,285,715 5.25% Term Increases Annual Rent Monthly Rent Current – 2/28/2023 - $540,000 $45,000.00 720 Washington Avenue 3/1/2023 – 2/28/2028 10% $594,000 $49,500.00 Carlstadt, NJ 07072 3/1/2028 – 2/28/2033 4% $618,200 $51,516.67 3/1/2033 – 2/28/2038* 10% $680,020 $56,668.33 Asset Summary 3/1/2038 – 2/28/2043 4% $709,302 $59,108.50 3/1/2043 – 2/28/2048* 10% $780,232 $65,019.33 Annual Rent $540,000 3/1/2048 – 2/28/2053 4% $815,663 $67,971.92 Rent/Month $45,000 *Options Rentable Square Feet 5,496+/- SF Investment Highlights Land Area 2.26+/- Acres •• 14+ years remaining on absolute NNN fee simple lease Tenant QuickChek Corp. •• Structured rent increases every 5 years in primary term and option periods

Guarantor Corporate •• Fee simple ownership of improvements; potential for accelerated depreciation (consult your accountant) Ownership Type Fee Simple •• NY Metro, Meadowlands location - 22 million SF of industrial space in the Lease Type NNN Carlstadt/East Rutherford sub-market •• Located on a hard corner signalized intersection with traffic counts of Landlord Responsibilities None 30,000 VPD Store Opened 2013 •• High population counts of just under 130,000 within 3 miles & average HH income over $95,000 within 3 miles Lease Term Remaining 14+ Years

Rent Commencement February 19, 2013

Lease Expiration February 28, 2033

Increases Varies

Options Two (2), Ten (10) Year

Calkain Companies | 2 Tenant Overview

About QuickChek QuickChek stores provide one-stop , offering a wide variety of grocery and market items including custom-made, subs, , wraps, salads, fresh baked goods and award-winning , served up by excellent locally hired team members. QuickChek began in 1888, when Durling Farms delivered and products door to door throughout central . Still owned, they’re award winning and nationally recognized. Fifty years ago, in 1967, QuickChek opened their very first store, providing shopping for their neighborhood. This tradition continues today, with over 150 stores serving and New Jersey. QuickChek is committed to delivering what their customers want. Their mission is to be A Great Place to Work, A Great Place to Shop and A Great Place to Invest. Every aspect of their business is grounded in that mission.

CLICK TO VIEW | WHAT’S A QUICKCHEK?

Tenant # of Locations Established Markets Property Type Team Members Snapshot 153 1967 NY & NJ C-Store 4,000

Calkain Companies | 3 Tenant Overview

Forbes Names QuickChek One of the Best Employers in America for 2018 Fresh Convenience Market Leader Earns National Honors WHITEHOUSE STATION, NJ — QuickChek , a market leader in food QuickChek invests in its more than 4,300 team members. The company’s starting services known for its dedication to customer service and its commitment to its pay has been above the New Jersey and New York state minimums for the past employees, has been named one of America’s Best Employers for 2018 by Forbes. nine years. Career opportunities abound: all of the company’s district leaders and The list spotlights 500 large and 500 mid-sized companies across all industry most of its vice presidents began their careers working in a local store. sectors. Known for its -quality fresh sub sandwiches and its fresh brewed, It is the first time the Whitehouse Station, NJ-based company has been named to locally-roasted coffee, QuickChek continues to buck the current economic trend, the national list. QuickChek was also selected as one of the “Best Places to Work opening 20 new stores and hiring an additional 900 people since 2015. Each new in New Jersey” for the eighth time and one of the “Best Companies to Work for in store creates between 40-50 new local jobs including eight management positions New York State” for the sixth time earlier this year. and generates approximately $1 million in tax revenue, adding to its positive Forbes partnered with Statista, a market research company, to identify companies impact on the local community. best-liked by employees. The ranking is divided into two separate lists: the top 500 large companies in the U.S. with more than 5,000 employees and the top 500 mid-sized companies with 1,000-5,000 employees. To determine the rankings, Statista anonymously surveyed 30,000 Americans working for companies with at least 1,000 employees. The survey respondents were asked to rate, on a scale of zero to 10, how likely they would be to recommend their employer to others. They were also asked to nominate businesses in industries other than their own. The final list ranks the best large and mid-sized companies that received the most recommendations. “We are committed to making a difference in people’s everyday lives, not only in providing fresh convenience for our customers but in empowering our team members to be successful,” said QuickChek CEO Dean Durling. “When you come into any of our stores, the store leader manages that store as if it is their own. Our team shares our core values of caring and commitment, for their fellow team members, for our product, and for our customers. This is something that comes from the heart and makes for a rich and rewarding environment.” “We are proud to be thought of so highly to make the Forbes national list of top employers.” National honors are not new for the family-owned company. QuickChek was named the 2016 National Chain of the Year, the 2016 FoodService Innovator of the Year, and its renowned fresh brewed locally-roasted coffee was named best in America in a national consumer survey.

Calkain Companies | 4 Site Photos

Calkain Companies | 5 Location Overview

Hackensack

East Subject Site Rutherford

Manhattan

280

Newark 95 495 678 Queens Jersey City

78

Brooklyn Elizabeth

278 95 Hollywood

Manhattan 8 miles Jersey City 13 miles Brooklyn 16 miles Distance To Newark 12 miles Elizabeth 17 miles Hackensack 5 miles

Calkain Companies | 6 720 Washington Avenue | Carlstadt, NJ 07072

Teterboro Airport

Subject Site

62,000 VPD

17

Meadowlands Sports Complex Keep all map content (except background) above this 119,000 VPD margin for I-9595 website 3 cropping 121,000 VPD purposes

Stre or et f V k Location Accessible from I-95 Centrally Located in Hard Corner i c e i

l

w

C

(NJ Turnpike) Industrial Market Intersection

Highlights

720 Washington Avenue | Carlstadt, NJ 07072

Teterboro Airport

62,000 VPD Commerce Road 17

30,000 VPD

Subject Site

Keep all map content (except CARLSTADT INDUSTRIAL MARKET Washington Avenue background) Meadowlands above this The Carlstadt/East Rutherford sub-market contains 22 Sports Complex margin for Million square feet of Industrial space. The economy of website cropping Carlstadt is specialized in Wholesale trade; Transportation purposes & Warehousing, Finance & Insurance; which employs respectively 1.57 times more people than what would be 119,000 VPD expected in a location of this size. 95I-95 Site Plan LOCATION MAP

COMMERCE ROAD PROJECT LOCATION

PROJECT DATA

30,000 VPD

WASHINGTON AVENUE

Calkain Companies | 9

0 5 10 20

QuickChek AT MARKETING PLAN 720 WASHINGTON AVENUE MP-1 BOROUGH OF CARLSTADT, BERGEN COUNTY, NEW JERSEY Date: 10/25/10 Location Overview, 1/3/5 Miles

1 Mile 3 Miles 5 Miles Population 2018 Population 2,111 127,800 768,539 2023 Population 2,129 130,843 782,904 2018 Median Age 44.3 39.1 38 Households 2018 Total Households 778 47,947 295,035 2023 Total Households 795 49,879 306,936 Median Household Income 2018 Median HH Income $69,900 $80,683 $81,520 2023 Median HH Income $80,435 $93,320 $93,997 Average Household Income 2018 Average HH Income $78,075 $99,370 $108,199 2023 Average HH Income $95,277 $120,412 $132,317

5 Mile Radius | Demographics

Manhattan Population Median Age Avg HH Income 768,539 38 $108,199

Newark Total Businesses Total Employees Net Worth 32,062 314,176 $1,099,417

Jersey City

Calkain Companies | 10 Market Overview

Carlstadt, NJ Carlstadt is a borough in Bergen County, New Jersey. Bergen County is the most populous county in the state of New Jersey. Carlstadt was originally formed as a village by an act of the New Jersey Legislature on March 12, 1860, within Lodi Township. Most sources indicate that the community was named for Dr. Carl Klein, the leader of a group of early German settlers who led the project to establish the community though Henry Gannett stated that the name derived from the city of Karlovac in Croatia, which was known as “Carlstadt” in German.The Borough of Carlstadt was incorporated on June 27, 1894, formally set off from Bergen Township. The borough was formed during the “Boroughitis” phenomenon then sweeping through Bergen County, in which 26 boroughs were formed in the county in 1894 alone. Carlsdat sits to the southwest of Teterboro Airport and to the west of Manhattan.

Net Worth 5 Mile Population $1.1 Million 768, 539

Calkain Companies | 11 About Us Calkain Companies LLC is a boutique commercial real estate investment banking firm that provides consulting and brokerage services to both private and institutional clientele with a focus on single tenant net lease investments. It prides itself on being an innovative leader by providing its clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, debt and equity placement and wealth management. Calkain has built solid, lasting relationships that have been the cornerstone of how they do business. Calkain approaches each assignment with an eye toward each client’s individual needs. Whether private or institutional investors, Calkain delivers real estate solutions that maximize value while building wealth for all of its clients. At Calkain, their foresight and innovation are leading the net lease investment industry.

$12 Billion $400 Million Building a solid foundation for your investment portfolio in Closed Transactions in Active Listings calkain.com

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Disclaimer: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) 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(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make 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.