TOCCOA, GEORGIA

CONFIDENTIAL OFFERING MEMORANDUM REPRESENTATIVE PHOTO CONTENTS PRESENTED BY

NEAL PRINGLE 3 Director of Investment Sales EXECUTIVE P 770.955.2434 SUMMARY [email protected]

ADAM BIRNBREY Senior Investment Sales Advisor 10 P 770.955.2434 LOCATION [email protected] OVERVIEW

16 DEMOGRAPHICS

REPRESENTATIVE PHOTO EXECUTIVE SUMMARY INTRODUCTION

SITE PLAN

TENANT PROFILES

LEASE ABSTRACTS

FINANCIAL ANALYSIS

REPRESENTATIVE PHOTO EAST

CURRAHEE CORNERS

STEPHENS COUNTY HIGH SCHOOL STEPHENS COUNTY MIDDLE SCHOOL (1,145 STUDENTS) (884 STUDENTS) TOCCOA RACEWAY BIG A ELEMENTARY SCHOOL (495 STUDENTS)

SOUTH STATE BANK

STEPHENS COUNTY EYE CLINIC SOUTHERN WAVE EXPRESS WASH

R

UNDER CONSTRUCTION

1ST FRANKLIN BROTHER JOHN’S FINANCIAL SUB & SANDWICH BIG A ROAD (24,300 AADT)

TOCCOA INN & SUITES

NORTHEAST GEORGIA BANK EXECUTIVE LOCATION HOME DEMOGRAPHICS SUMMARY OVERVIEW 5 2019 100% 2,350 SF 0.83 Acres 700A Big A Rd, Toccoa, GA 30577 Toccoa, | by Locations Burger Chain Food Fast Largest nd 7,200+ units in the US and 17,800+ across the 7,200+ units in the world 2 Promising Same–Store Sales Increase | 2.2% Promising Same–Store continued indicates increase sales same–store growth Franchise Rapidly Growing Franchisee (Carolina Holdings) | 19 units opened today and 23 units to grow to scheduled to open by YE 2019 – Plans by YE 2020 35 units by Q1 2020 and 45+ units ADDRESS GLA LAND YEAR BUILT OCCUPANCY • EXCEPTIONAL BRAND AND GROWING FRANCHISEE EXCEPTIONAL BRAND • • BURGER KING - TOCCOA, GA – TSCG.COM | PropertySignalized Access is located at the signalized corner Street on of Big A Rd and Harris Bealls Outlet and Supply, an outparcel to a Tractor anchored center Dollar Tree per day Counts | Over 24,000 cars Strong Traffic Propertydirectly in front of the Busy Retail Node | Close proximity to Walmart, Ollie’s and Save–A–Lot Belk, Ingles, Depot, Home Bargain Outlet Heavy Daytime Population | Over 4,500 students and 9,300 workers within a 5–mile radius • • • • COMPELLING REAL ESTATE FUNDAMENTALS ESTATE COMPELLING REAL Hedge Against Inflation | 10% rental increases every 5 years and per each option | Long term lease with four, 5–year Lease | Long term lease with four, 20–Year options to renew | Landlord has zero has Landlord Structure | Absolute NNN Lease cares care of all expenses responsibilities – Tenant of every kind | Built in 2019 reflecting | Built in 2019 reflecting Brand New Construction with a double drive latest prototype Burger King’s thru

• • • • LONG TERM, IDEAL INVESTMENT LONG TERM, IDEAL INTRODUCTION EXECUTIVE LOCATION HOME DEMOGRAPHICS SUMMARY OVERVIEW 6 6.00% 6.00% 6.60% 7.26% 7.98% 8.78% 9.66% 2019 100% 2,350 10.63% 11.69% Cap Rate Cap Rate $128,848 $128,848 20 Years $2,148,000 $2,148,000 0.83 Acres 0.83 Four, 5–Years Four, $128,848 $141,733 $155,906 $171,496 $188,646 $207,511 $228,262 $251,088 Annual Rent Annual Rent $10,737.32 $11,811.05 $12,992.16 $14,291.37 $15,720.51 $17,292.56 $19,021.82 $20,923.99 Monthly Rent Monthly Rent Land Acreage Year Built Occupancy GLA (SF) INVESTMENT SUMMARY FACTS NOI Price Cap Rate Term Options BURGER KING RENT SCHEDULE Initial Term Years 1–5 Years Years 6–10 Years Years 11–15 Years Years 16–20 Years Renewal Options Years 21–25 Years Years 26–30 Years Years 31–35 Years Years 36–40 Years BURGER KING - TOCCOA, GA – TSCG.COM

LARGEST in the U.S. in the world 17,800+ 17,800+

VISITORS ND LOCATIONS Revenue in 2018

11 MILLION 2 per day world wide $21.6 BILLION

INVESTMENT HIGHLIGHTS INVESTMENT HAMBURGER CHAIN HAMBURGER BIG A ROAD (24,300 AADT)

GEORGIANOR BANK

THEAST

1ST FRANKLIN

FINANCIAL

B ROTHER JOHN' SANDWICHSUB & S

HARRIS STREET EXECUTIVE LOCATION HOME DEMOGRAPHICS SUMMARY OVERVIEW 8 Insta–Burger King purchased by James McLamore James by purchased King Insta–Burger and David Egerton Burger King and rebranded to Franchising system is established Pillsbury King for $18M Company purchases Burger Pillsbury is purchased by British Liquor company Grand Metropolitan (later Diageo) for $5.7 billion Pacific Group purchases Burger King from Texas Diageo for $1.6 billion 12,000th store opened in Beijing deal Brazil based 3 G Capital acquires BK in a worth $3.26 billion Burger King merges with Canadian donut/ coffee chain and Restaurant Brands International is created Insta–Burger King founded in Jacksonville, FL by Jacksonville, founded in King Insta–Burger BurnsKeith Kramer and Matthew 2014 1954 1959 1967 1989 2002 2009 2010 1953 BURGER KING - TOCCOA, GA – TSCG.COM Public NYSE 1953 Burger King www.bk.com 17,800 (worldwide) 17,800 Service Restaurant –Dade County, Florida County, Miami–Dade Restaurant Brands International QSR (Restaurant Brands International)

Website Company NameCompany Property Type Property Name Company Parent Ownership Number Locations of Headquarters Founded Year On Traded Symbol Ticker Exchange under the ticker symbol: QSR. of Burger King, Tim Hortons and Popeyes. RBI is a publicly traded company on the New York Stock Stock Hortonsof Burger King, Tim and Popeyes. RBI is a publicly traded company on the New York of $21.6 billion. Burger King is owned and operated by Restaurant Brands International – owner owned and operated by Restaurant Brands Internationalof $21.6 billion. Burger King is – owner fries, mozzarella sticks) and dessert. In 2018, Burger King Worldwide had a total revenue stream had a total revenue stream fries, mozzarella sticks) and dessert. In 2018, Burger King Worldwide offers a large selection of burgers, chicken sandwiches, salads, breakfast items, sides (nuggets, offers items, sides (nuggets, a large selection of burgers, chicken sandwiches, salads, breakfast recently debuted Pretzel Bacon King burger, Burger King offers a wide array of options. The chain Burger King offers a wide array of options. The chain burger, recently debuted Pretzel Bacon King affordability, exceptional quality and great tasting food. From the famous sandwich to the famous Whopper sandwich to the exceptional quality and great tasting food. From the affordability, Everyday, more than 11 million guests visit Burger King Restaurants around the world due to its visit Burger King Restaurants around the world due to its more than 11 million guests Everyday, its inception, Burger King has grown to over 17,800 locations worldwide in over 100 countries. to over 17,800 locations worldwide in over 100 countries. its inception, Burger King has grown as the #2 fast food hamburger chain in the world. The company was founded in 1953 and since 1953 and since was founded in company the world. The hamburger chain in as the #2 fast food Headquartered in the unincorporated area of Miami–Dade County, Florida, Burger King operates Florida, Burger King operates Headquartered in the unincorporated area of Miami–Dade County, TENANT PROFILE – BURGER KING BURGER – PROFILE TENANT EXECUTIVE LOCATION HOME DEMOGRAPHICS SUMMARY OVERVIEW 9

CFH Toccoa, LLC Toccoa, CFH Burger King d/b/a 2,350 SF 20 Years 2020 JanuaryOn or before 31, days thirty or opens b) business for (30) Tenant of a) Earlier after the Delivery Date 5–year options (4), Four use the Property shall service a quick restaurant. as Tenant pay shall Tenant and be absolutely shall Landlord, net to Rent of expenses obligations and costs, all for beand responsible the to Property. every relating king daysafter request. either party's (15) fifteen Within Lease or sublease this the Property not assign shall Tenant written of Landlord. consent the prior, without LLC Master Holding, CFH and Bruce Daniels BURGER KING - TOCCOA, GA – TSCG.COM

BURGER KING LEASE ABSTRACT BURGER KING LEASE Tenant Building Size Term Date Delivery Date Commencement Rent Options Permitted Use Net Lease Estoppel Subletting and Assignment Guarantor LEASE ABSTRACT REPRESENTATIVE PHOTO REPRESENTATIVE LOCATION OVERVIEW LOCATION MAP

TRADE AREA ZOOMED OUT

TRADE AREA ZOOMED IN

LOUISVILLE, KY OVERVIEW NORTHWEST

TOCCOA FALLS COLLEGE TOCCOA FALLS TOCCOA ELEMENTARY (1,656 STUDENTS) (672 STUDENTS) R.G. LETOURNEAU FIELD TOCCOA– DOWNTOWN TOCCOA STEPHENS COUNTY AIRPORT

®

TOCCOA INN & SUITES NORTHEAST GEORGIA BANK

1ST FRANKLIN

R BROTHER JOHN’S FINANCIAL SUB & SANDWICH

UNDER CONSTRUCTION

BIG A ROAD (24,300 AADT)

STEPHENS COUNTY EYE CLINIC

EXECUTIVE LOCATION HOME DEMOGRAPHICS SUMMARY OVERVIEW 16 BURGER KING - TOCCOA, GA – TSCG.COM ECONOMY growth is The city’s employs over 3,000 people. The economy of Toccoa care and social industries such as manufacturing, health mainly attributed to EDUCATION is comprised of four elementaryThe Stephens County School system schools, The district servesone middle school and one high school. students over 4,500 TRANSPORTATION 17. U.S. are U.S. Route 123 and Hwy The main highways serving Toccoa to areas near Clarksville, Toccoa Route 123 runs over 75 miles and connects

Toccoa is approximately seven miles from the border of Georgia and South Carolina of Georgia and miles from the border approximately seven is Toccoa (Lake Hartwell). miles northeast located nearly 90 The city is west of , 52 miles 42 miles northof Greenville, SC, SC. of Athens, GA and 19 miles west of Clemson, people) and is considered seat of Stephens County (26,035 The city is the county servicesof range supportsand attracts a “Heartthe Northeastof Toccoa’s Georgia”. businesses. of 60 industries and more than 400 diverse economic base include Stephens County The top Stephens County employers work and retail trade. Corp, Habersham Patterson Pump, American Woodmark School System, Caterpillar, Falls College, Eaton Corporation and PTL Company. Plantation, Toccoa include: Toccoa elementaryand over 300 full time teachers. The schools in Toccoa Elementary (672 students), Liberty ElementaryA Elementary students); Big (593 (495 Academy (298 students). Stephens County students) and Stephens County Fifth Grade and Stephens County High School has a total Middle School is home to 884 students enrollment of 1,145 students. (1,600+ undergrads), a private Christian Falls College is the home of Toccoa Toccoa in College has a campus just south of Toccoa college. North Technical Georgia Currahee. Georgia and north and east to Business in Greenville, SC. Hwy 17 joins , approximately 16 miles south of the Property. TOCCOA, GEORGIA Toccoa Falls DEMOGRAPHICS RADII

DRIVE TIMES SOUTH

LIBERTY ELEMENTARY SCHOOL (593 STUDENTS) CURRAHEE MOUNTAIN

R

TOCCOA INN & SUITES

BROTHER JOHN’S SUB & SANDWICH NORTHEAST GEORGIA BANK 1ST FRANKLIN STEPHENS COUNTY FINANCIAL EYE CLINIC

UNDER CONSTRUCTION

BIG A ROAD (24,300 AADT) EXECUTIVE LOCATION HOME DEMOGRAPHICS SUMMARY OVERVIEW 19 % es 535 41.8 0.27 94% 82% 31% 9,149 7,518 4,865 9,356 7,603 0.41% 0.05% 1.22% 1.57% 6. 7. 9. 0.42% 3.93% 4.65% 11,398 20,754 19,224 18,501 19,483 10,076 29.53% 18.70% 12.03% 80.73% 11.02 12.91% $52,716 $20,639 $37,879 $116,197 5 mil 9 79 475 047 246 234 301 929 755 622 3,954 2,504 1,611 1, 1, 1, 2,481 15,520 324 42.2 0.33 63% 93% 88% 53% 5,594 3,389 8,146 8,094 5,671 6,474 7,292 0.46% 0.05% 1.34% 1.36% 9. 5. 7. 9. 3.63% 4.53% 0.50% 16,240 13,766 13,146 13,993 78.21% 29.72% 20.09% 12.69% 15.21%

$50,978 $20,301 $35,721 miles $109,325 3 7 63 26 70 58 17 184 187 9 5 7 9 500 436 2,859 1,933 1,221 2,094 10,767 15 46.0 0.29 .30% .96% .57% .63% 4,978 2,012 1,077 2,713 2,265 2,037 2,077 4,596 4,402 4,664 2,519 0.61% 0.00% 1.61% 1.63% 9 5 8 9 4.20% 3.43% 0.47% 77.44% 27.53% 22.83% 12.76% 15.45% $49,476 $21,358 $36,405 1 mile up, LLC g Center Group, $117,771 0 28 09 98 85 20 74 75 193 114 915 759 424 3 1 2 3 710 3,559 The Shoppin ion e e

pulat ma ree Deg Copyright: Po BURGER KING - TOCCOA, GA – TSCG.COM nal e s ma ive rs Credential ents Growth Rat Growth Rat n n Nat rke ive g Unit io sid io e/No Diplo th Grad ka n pulation Po an usin Income io gree e's De e/Professio ernat e pulat gree r's De ric Income n n: Wo n: Re pulat Census n pulation Colleggree e/No De io io io /Alas s s n uat S. n io n: Annual n: Annual d Ho n n n n helo pulat h School Diplo io Po Valu io io io Ame io io io io U. -12th Grad der Po ters Po usehold pulat pulat pulat Income an usehold me ri, pulat e Po Indian time a pulat pulat Po Po Po pulat pulat usehold usehold pulat pulat pulat it pulat Es Po Ho Age Ho an e Ho ic Islan Day Ho Ho Po Po Po Po ic Po e Po ric k/Afric time time rag if pan p 25 +: Grad p 25 +: Less than 9 p 25 +: 9 p 25 +: Hig p 25 +: GED/Alt p 25 +: Some p 25 +: Associat p 25 +: Bac r Cap male tal tal tal tal tal tal ds sehol -2022 Po -2017 Po Source: ulation aytime Pop By Race ulation op on ulati op al Attainment ducation e ncom 019 Po 019 Ave 019 Median 019 Pe 019 To 019 Day 019 Day 017 019 Male 019 Fe 019 Median 019 To 024 To 019 Owner Occupie 019 Median 019 Whit 019 Blac 019 Ame 019 Asian 019 Pac 019 Other Rac 019 His 019 Po 019 Po 019 Po 019 Po 019 Po 019 Po 019 Po 019 To 024 To 010 To 019 Group Quar 010 2 2 2 2 I 2 2 D 2 2 2 2 Hou 2 2 2 P 2 2 2 2 2 2 2 E 2 2 2 2 2 2 2 P 2 2 2 2 2 2 2 RADII EXECUTIVE LOCATION HOME DEMOGRAPHICS SUMMARY OVERVIEW 20 s % 582 0.26 42.3 48% 51% 03% 9,874 9,767 6,589 0.08% 1.08% 1.60% 7. 7. 9. 0.37% 0.37% 3.96% 4.59% 12,081 10,214 25,476 13,068 15,076 25,150 24,299 25,290 82.61% 29.65% 18.33% 11.35% 12.06 11.27% $38,813 $53,173 $20,760 $119,262 20 92 128 320 325 593 271 403 997 810 15 minute 5,231 3,234 2,002 2, 1, 1, 1, 2,834 20,775 % 454 42.0 0.28 05% 89% 36% 6,962 4,464 9,042 7,045 8,388 9,304 0.05% 1.24% 1.57% 7. 7. 9. 0.43% 3.92% 4.27% 0.44% 10,438 19,480 17,692 16,990 17,943 79.98% 29.05% 19.15% 12.12% 11.10 13.62%

$37,702 $52,362 $20,623 $112,531 8 71 75 76 0 minutes 219 277 8 9 694 528 ,371 ,156 1 3,588 2,366 1,497 1 1 2,410 14,149 64 tes 43.4 0.31 .08% .10% .45% .87% 5,192 3,124 4,294 3,085 1,648 9,486 7,310 3,917 7,198 6,884 3,282 0.03% 1.47% 1.57% 5 7 0.56% 4.02% 3.51% 0.48% 73.16% 28.35% 21.64% 12.99% 10 10 19.53% $36,004 $50,637 $21,252 up, LLC g Center Group, $113,700 2 14 78 01 15 40 5 minu 106 113 5 2 4 5 289 179 662 5,266 1,445 1,103 1,406 The Shoppin ion e e

pulat ree Deg ma Copyright: Po BURGER KING - TOCCOA, GA – TSCG.COM nal e s ma ive rs Credential ents Growth Rat Growth Rat n n Nat rke ive g Unit io sid io e/No Diplo th Grad ka n pulation Po an usin Income io gree e's De e/Professio ernat e pulat gree r's De ric Income n n: Wo n: Re pulat Census n pulation Colleggree e/No De io io io /Alas s s n uat S. n io n: Annual n: Annual d Ho n n n n helo pulat h School Diplo io Po Valu io io io Ame io io io io U. -12th Grad der Po ters Po usehold pulat pulat pulat Income an usehold me ri, pulat e Po Indian time a pulat pulat Po Po Po pulat pulat usehold usehold pulat pulat pulat it pulat Es Po Ho Age Ho an e Ho ic Islan Day Ho Ho Po Po Po Po ic Po e Po ric k/Afric time time rag if pan p 25 +: Grad p 25 +: Less than 9 p 25 +: 9 p 25 +: Hig p 25 +: GED/Alt p 25 +: Some p 25 +: Associat p 25 +: Bac r Cap male tal tal tal tal tal tal ds sehol -2022 Po -2017 Po Source: ulation aytime Pop By Race ulation op ion ulat op al Attainment ducation e ncom 019 Po 019 Ave 019 Median 019 Pe 019 To 019 Day 019 Day 017 019 Male 019 Fe 019 Median 019 To 024 To 019 Owner Occupie 019 Median 019 Whit 019 Blac 019 Ame 019 Asian 019 Pac 019 Other Rac 019 His 019 Po 019 Po 019 Po 019 Po 019 Po 019 Po 019 Po 019 To 024 To 010 To 019 Group Quar 010 2 2 2 2 2 I 2 2 D 2 2 2 2 Hou 2 2 2 P 2 2 2 2 2 2 2 E 2 2 2 2 2 2 2 P 2 2 2 2 2 2 DRIVE TIME WEST

LAKE HARTWELL TOCCOA RACEWAY

SOUTH STATE BANK

STEPHENS COUNTY EYE CLINIC

UNDER CONSTRUCTION 1ST FRANKLIN FINANCIAL BIG A ROAD (24,300 AADT)

BROTHER JOHN’S SUB & SANDWICH REPRESENTATIVE PHOTO

DISCLAIMER

This Offering Memorandum has been prepared by TSCG for The Offering Memorandum does not constitute a representation This Offering Memorandum and the contents, except such use by interested parties to evaluate the potential acquisition that there has been no change in the business or affairs of information which is a matter of public record or is provided of Burger King located in Toccoa, Georgia (the “Property”). the Property or Owner since the date of preparation of the in sources available to the public, are of a confidential nature. All projections have been developed by TSCG, Owner and Offering Memorandum. Analysis and verification of the By accepting this Offering Memorandum, you agree that you designated sources, are based upon assumptions relating to information contained in the Offering Memorandum is solely will hold and treat it in the strictest confidence, that you will the general economy, competition, and other factors beyond the responsibility of the prospective purchaser. not photocopy or duplicate it, that you will not disclose this the control of TSCG and Owner, and therefore are subject to Offering Memorandum or any of the contents to any other entity variation. No representation is made by TSCG or Owner as Additional information and an opportunity to inspect the (except to outside advisors retained by you, if necessary, for to the accuracy or completeness of the information contained property will be made available to interested and qualified your determination of whether or not to make a proposal and herein, and nothing contained herein is or shall be relied on as prospective investors upon written request. Owner and TSCG from whom you have obtained an agreement of confidentiality) a promise or representation as to the future performance of the each expressly reserve the right, at their sole discretion, to reject without the prior written authorization of Owner or TSCG and Property. Although the information contained herein has been any or all expressions of interest or offers regarding the property that you will use the information in this Offering Memorandum obtained from sources deemed to be reliable and believed and/or terminate discussions with any entity at any time with for the sole purpose of evaluating your interest in the property to be correct, TSCG, Owner and its employees disclaim or without notice. Owner shall have no legal commitment or and you will not use the Offering Memorandum or any of the any responsibility for inaccuracies and expect prospective obligations to any entity reviewing this Offering Memorandum contents in any fashion or manner detrimental to the interest of purchasers to exercise independent due diligence in verifying or making an offer to purchase the property unless and until Owner or TSCG. If you have no interest in the property, please all such information. Further, TSCG, Owner and its employees such offer is approved by Owner, a written agreement for the return the Offering Memorandum to TSCG. disclaim any and all liability for representations and warranties, purchase of the property has been fully executed, delivered and expressed and implied, contained in, or for omissions from, approved by Owner and its legal counsel, and any obligations © 2019 TSCG All Rights Reserved the Offering Memorandum or any other written or oral set by Owner thereunder have been satisfied or waived. communication transmitted or made available to the recipient.

BURGER KING - TOCCOA, GA – TSCG.COM 22 NEAL PRINGLE ADAM BIRNBREY Director of Investment Sales Senior Investment Sales Advisor P 770.955.2434 P 770.955.2434 [email protected] [email protected]

REPRESENTATIVE PHOTO