Representative Photo PAUL BONANNO JEFF RAMSAY JEFF BERGER (760) 452-2402 (760) 452-2403 (760) 452-2404
[email protected] [email protected] [email protected] FINANCIAL OVERVIEW ADDRESS 2134 NJ-38 Cherry Hill, NJ 08002 RENT SCHEDULE TERM ANNUAL RENT MONTHLY RENT Price $5,680,000 Cap Rate 5.0% Year 1 $278,400.00 $23,200.00 Net Operating Income $283,996 Year 2 $281,184.00 $23,432.00 Rentable Square Footage 8,700 Year 3 $283,995.84 $23,666.32 Lot Size 2.71 acres Year 4 $286,835.80 $23,902.98 Type of Ownership Fee Simple Year 5 $289,704.16 $24,142.01 Year 6 $292,601.20 $24,383.43 Year 7 $295,527.21 $24,627.27 Year 8 $298,482.48 $24,873.54 Year 9 $301,467.31 $25,122.28 Year 10 $304,481.98 $25,373.50 Year 11 $307,526.80 $25,627.23 Year 12 $310,602.07 $25,883.51 LEASE SUMMARY Year 13 $313,708.09 $26,142.34 Year 14 $316,845.17 $26,403.76 Lease Type Absolute NNN Year 15 $320,013.62 $26,667.80 Roof & Structure Tenant Lease Term 15 Years Rent Commencement September 25, 2015 Lease Expiration September 30, 2030 Term Remaining Approximately 12 ½ Years Increases 1% Annually Options Five x 5 Years Options 1-3: 1% annually Option 4: FMV then 1% annually Option 5: 1% annually Right of First Offer Yes TENANT OVERVIEW Olive Garden is the leading restaurant in the Italian dining segment with more than Ownership Public 800 restaurants, more than 96,000 employees and more than $3.6 billion in annual Tenant Olive Garden (GMRI, Inc.) sales.