Kevin Held 1515 132Nd Street Se, Everett, Wa

1515 132ND STREET SE, EVERETT, WA OFFERING MEMORANDUM NET LEASE INVESTMENTS EXCLUSIVELY OFFERED BY: KEVIN HELD +1 858 546 5428 | CA Lic #01240358 [email protected] SURROUNDING RETAIL N JACK IN THE BOX | EVERETT, WA 2 EXECUTIVE SUMMARY Jack in the Box Properties, LLC TENANT: (predecessor in interest to Jack in the Box, Inc.) LOCATION: 1515 132nd Street SE Everett, WA 98208 BUILDING SIZE: 2,800± square feet LAND SIZE: 28,191± square feet 2000, 2020 Fully Remodeled YEAR BUILT: (~$820,000 cost) RENT EXTENSION START August 9, 2020 DATE: LEASE EXPIRATION: August 8, 2030 OPTIONS: Four (4) five (5) year options 10% every 5 years including INCREASES: options Absolute NNN Lease LEASE TYPE: (Land & Building) PRICE CAP NOI $3,388,235 4.25% $144,000 Actual Property JACK IN THE BOX | EVERETT, WA 3 20 YEAR HISTORIC OCCUPANCY / HIGH SALES LOCATION HIGH TRAFFIC INTERSECTION WITH ~50,000 CARS PER DAY • Outparcel to Dominant Grocery / Drug Center Anchored by Fred Meyer and Walgreens • Located at main north south / east west intersection in trade area EARLY CORPORATE 10 YEAR LEASE EXTENSION LONG TERM COMMITMENT TO THE SITE • ~$820,000 Building Remodel to new Jack in the Box Prototype • 20 year Franchisee agreement extension (Corporate Entity on the Lease) 10% RENT INCREASES EVERY 5 YEARS RARE WA STATE ABSOLUTE NET LAND AND BUILDING QSR LEASE / TAX BENEFITS • Potential for significant accelerated depreciation for tax sheltered cash flow • Corporate QSR’s rarely on the market in Seattle MSA • Tax Free State Actual Property JACK IN THE BOX | EVERETT, WA 4 PROXIMITY TO DOWNTOWN SEATTLE N 5 405 5 ~19 MILES TO DOWNTOWN SEATTLE 405 DOWNTOWN SEATTLE 90 JACK IN THE BOX | EVERETT, WA 5 SITE N JACK IN THE BOX | EVERETT, WA PARCEL LINES FOR ILLUSTRATIVE PURPOSES ONLY 6 SITE PLAN N S50°00'32"E 46.15' 1 42"w LOADING RAMP EXISTING 2 42"w LOADING RAMP, ALT. LOCATION DUMPSTER ENCLOSURE EXISTING 24' JOINT ACCESS N39°59'42"E 45.59' DRIVEWAY EASEMENT S89°51'36"E 194.14' 15' SEWER EASEMENT 24'-4" ORDER BOARD 24'-7 1/4" R10'-0" N00°08'41"E 39.02' NEW STALLS R10'-0" EXISTING ENTRANCE 7 R32'-0" R20'-0" 12'-0" UP 2 4'-0" 1 UP N89°51'19"W 9'-0" 11 NEW 13.91' STALLS 18'-0" LANDSCAPING WINDOWLINE JACK-IN- RETAIL THE-BOX FUTURE TYPE VB +/-2600 GSF TO REMAIN N00°43'59"E 174.74' 17'-10" ENTRY LANDSCAPING REQUIRES 13 PARKING 2 EXIST. STD. STALLS NEW ADA 24'-0" 16'-0" + LANDSCAPING 6 ENTRY STALLS 3'-0" @1/200sf STALLS OVERHANG LANDSCAPING TO ENTRY PROPERTY LINE DISTRIBUTION 9'-0" 2 EASEMENT R20'-0" R40'-0" 18'-0" 7'-0" 12'-0" PARKING NOTES: · 22'-9" 10'-0" 9'-0" 50 PARKING STALLS PROVIDED; 20 REQUIRED · 2 ADA @ 2 VAN ADA STALL PROVIDED PER TENANTS 4'-3" N00°08'41"E 118.09' · JACK-IN-THE-BOX REQUIRES 13 STALLS 26'-6" 10' UTILITY 24'-0" · CHASE BANK REQUIRES 7 STALLS, EASEMENT SO, THERE IS ENOUGH PARKING TO SUPPORT + THE DEVELOPMENT. · STANDARD STALLS @ 9'X18' · COMPACT STALLS @ 8'-6"X16' 15'-2" 22 EXIST. STALLS 18'-0" OVERHANG EXISTING SIGN STACKING NOTE: S89°51'19"E 255.34' LANDSCAPING TO REMAIN N39°50'40"E 29.98' · CAR STACKING BASED ON 1 CAR PER 20 FEET 16TH AVENUE EXISTING SIGN TO BE RENOVATED IN PLACE NORTH SCALE: 1" = 30'-0" 0 10 20 30 60FT JACK IN THE BOX | EVERETT, WA PARCEL LINES FOR ILLUSTRATIVE PURPOSES ONLY 7 132nd STREET SE PROJECT: EVERETT CHASE BANK / JACK-IN-THE-BOX REMODEL SKETCH TITLE: SITE PLAN w/ DELIVERY TRUCK PATH DATE: 2019-08-26 SCALE: 1" = 30'-0" DRAWN BY: JW CHASE BANK / JACK IN THE BOX REMODEL Sheet: 1515 132ND STREET NE 3110 RUSTON WAY, SUITE D, TACOMA, WA 98402 opt17C EVERETT, WA Ph: 253-272-4214 FAX: 253-272-4218 SURROUNDING RETAIL N JACK IN THE BOX | EVERETT, WA 8 SURROUNDING RETAIL N JACK IN THE BOX | EVERETT, WA 9 TENANT PROFILE Jack in the Box, Inc. (NASDAQ: JACK) REVENUE (2019): $950 MILLION NET INCOME (2019): $94.43 MILLION # OF BRANCH LOCATIONS (2019): 2,243 # OF EMPLOYEES (2019): 5,200 Jack in the Box Inc., founded in 1951, is a quick-service restaurant company that operates and franchises Jack in the Box restaurants. Jack in the Box offers a broad selection of distinctive products and innovative product lines. Based on Based in San Diego, Jack in the Box had approximately 5,200 employees as of September 30, 2018. Jack in the Box is among the nation's leading fast-food hamburger chains, with more than 2,243 quick-serve restaurants in 21 states and Guam. As the first major hamburger chain to develop and expand the concept of drive-thru dining, Jack in the Box has always emphasized on- the-go convenience, with approximately 85% of the half-billion guests served annually buying food at the drive-thru or for take-out. In addition to drive-thru windows, most restaurants have indoor dining areas and are open 18-24 hours a day. In December 2017, Jack in the Box has completed the sale of Qdoba to Apollo Global Management in a $305 million cash deal, ending the fast food chain’s 15-year ownership of the fast-casual Mexican brand. Affiliates of New York-based Apollo, which also owns the parent companies of the Chuck E. Cheese’s and Peter Piper Pizza dining-and-entertainment brands, inherit more than 700 owned and franchised Qdoba restaurants in the U.S. and Canada. https://www.jackinthebox.com/ JACK IN THE BOX | EVERETT, WA 10 DEMOGRAPHICS - 2020 N POPULATION 162K+3 MILE RADIUS AVERAGE HH INCOME $107K+1 MILE RADIUS 1 MILE POPULATION 3 MILE 1 MILE 3 MILE 5 MILE 15,354 162,072 312,632 5 MILE AVERAGE HH INCOME 1 MILE 3 MILE 5 MILE $107,727 $107,733 $109,852 JACK IN THE BOX | EVERETT, WA 11 EVERETT, WASHINGTON AREA OVERVIEW Everett, Washington is a city in Pierce County, Washington, about 10 in every subject and every grade. Everett Community College and miles southeast of Tacoma and 35 miles south of Seattle. The population Washington State University at Everett offer world-class higher education was 37,022 at the 2010 Census, a 12.2% increase from 2000, and the with a wide, growing range of programs that are relevant to our region, Washington State Office of Financial Management estimated the 2014 such as avionics, technology, healthcare, engineering and agriculture. population at 38,670. Puyallup is one of the fastest growing cities in The incredible education partners in the Everett area help support the the state. New businesses and developments are constantly expanding major employers, such as The Boeing Company, and the robust network especially in the Puyallup South Hill area. of high-tech and manufacturing enterprises that call Everett home. As the largest city in Snohomish County, Washington, Everett serves a Recreation opportunities abound, including skiing, hiking, biking and kite diverse community of more than 110,000 residents. Located 25 miles boarding, with the Cascade Mountains to the east and the bay to the north of Seattle, the city is nestled between Port Gardner Bay and the west. The City’s Parks and Community Services Department maintains Snohomish River. North Everett’s quaint historic downtown is home a large network of parks and offers classes and excursions on a year- to a vibrant arts, culture and music scene, delicious dining, pubs and round basis. Angel of the Winds Arena has a community ice rink, and breweries, Angel of the Winds Arena, and family-oriented festivals is home to the Everett Silvertips Hockey Club, and Funko Field is home year-round. The downtown also hosts unique shopping experiences to the Everett Aquasox minor-league baseball team. including toy maker Funko’s headquarters. Everett is easy to access to by car, train, bus and air. Paine Field at Everett began commercial air service in early 2019 with 24 daily flights to destinations along the west coast and beyond, connecting Everett to the world. The two-gate terminal, operated by Propeller Airports, offers service from Alaska and United airlines to many popular domestic destinations. On the Port Gardner waterfront is Naval Station Everett and the Port of Everett, which boasts the largest public marina on the West Coast. Northwest Everett is also home to Providence Regional Medical Center and new branch of Seattle Children’s Hospital, offering more than 15 pediatric subspecialties of care. Everett benefits from world-class education partners, serving students from pre-K to college. Everett School District students outperform the state on assessments Port of Everett JACK IN THE BOX | EVERETT, WA 12 SEATTLE, WASHINGTON AREA OVERVIEW Seattle is a seaport city on the west coast of the United States and metro area home. They are all major employers in the region, and four the seat of King County, Washington. With an estimated 684,451 residents out of ten jobs in the entire state are connected to international trade as of 2015, Seattle is the largest city in both the state of Washington and in part because of the Port of Seattle, one of the busiest ports in the the Pacific Northwest region of North America. In July 2013, it was the United States. Seattle has a mix of established companies and exciting fastest-growing major city in the United States and remained in the Top up-and-comers. Microsoft operates out of nearby Redmond, while 5 in May 2015 with an annual growth rate of 2.1%.

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