SHEETZ (Ground Lease) 1001 N Spence Avenue Goldsboro, North Carolina TABLE of CONTENTS

NET LEASE INVESTMENT OFFERING

SHEETZ (Ground Lease) 1001 N Spence Avenue Goldsboro, North Carolina TABLE OF CONTENTS

TABLE OF CONTENTS

I. Executive Profile II. Location Overview III. Market & Tenant Overview Executive Summary Photographs Demographic Report Investment Highlights Aerial Market Overview Property Overview Site Plan Tenant Overview Map

NET LEASE INVESTMENT OFFERING DISCLAIMER STATEMENT

DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. STATEMENT: It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group.

This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes 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.

NET LEASE INVESTMENT OFFERING EXECUTIVE SUMMARY

EXECUTIVE The Boulder Group is pleased to exclusively market for sale a single tenant Sheetz ground lease located in Goldsboro, SUMMARY: North Carolina. The absolute triple net ground lease has 14 years remaining in the primary term and features four 5-year renewal options with 10% rental escalations in each option. The corporate 24-hour sheetz location was built in 2012 and the lease features zero landlord responsibilities.

The Sheetz property is ideally located at the corner of a signalized intersection along North Spence Ave (18,000 VPD) and immediately off of Highway 70 (50,000 VPD). The property is directly across from Walmart Supercenter and near other retailers including Sam’s Club, Target, Lowe’s, TJMaxx, Ross Dress for Less and the Berkeley Mall which is anchored by Belk, JCPenney and Sears. Goldsboro is approximately 43 miles southwest of Greenville, 55 miles southeast of Raleigh, the state capital, and 87 miles northwest of Wilmington in Southeastern North Carolina. Goldsboro is best known as home to Seymour Johnson Air Force Base which has over 530 active duty officers, and over 3,800 enlisted members and their families are stationed here. The base also employs over 1,000 civilian employees plus numerous contractors.

Sheetz, Inc. is an American chain of convenience stores and coffee shops owned by the Sheetz family. The stores sell a mix of fast food and convenience store items, and nearly all of them sell gasoline as well. Its headquarters are in Altoona, Pennsylvania. Stores are located in Pennsylvania, West Virginia, Maryland, Ohio, Virginia, and eastern and north-central North Carolina. Sheetz is a private company with over 580 locations and had $6.6 billion in revenue for 2018.

NET LEASE INVESTMENT OFFERING INVESTMENT HIGHLIGHTS

INVESTMENT • 14 Years remaining on the lease HIGHLIGHTS: • Absolute NNN – zero landlord responsibilities

• 24 hour location

• Ideally located along North Spence Ave (18,000 VPD) and immediately off of Highway 70 (50,000 VPD)

• Located at the hard corner of a signalized intersection

• Directly across from Walmart Supercenter and near other retailers including Sam’s Club, Target, Lowe’s, TJMaxx, Ross Dress for Less and the Berkeley Mall which is anchored by Belk, JCPenney and Sears

• Goldsboro is approximately 43 miles southwest of Greenville, 55 miles southeast of Raleigh, the state capital, and 87 miles northwest of Wilmington in Southeastern North Carolina

• Goldsboro is home to Seymour Johnson Air Force Base which has over 530 active duty officers, and over 3,800 enlisted members and their families are stationed here

• Sheetz has over 580 locations and had $6.6 billion in revenue for 2018

NET LEASE INVESTMENT OFFERING PROPERTY OVERVIEW

PROPERTY Price: $3,000,000 OVERVIEW: Cap Rate: 5.00% Net Operating Income: $150,000 Lease Expiration Date: June 30, 2033 Renewal Options: Four 5-Year Rental Escalations: 10% in each option Tenant: Sheetz, Inc. Year Built: 2012 Lease Type: Absolute NNN Building Size: 4,909 SF Lot Size: 1.7 AC

NET LEASE INVESTMENT OFFERING PHOTOGRAPHS

NET LEASE INVESTMENT OFFERING AERIAL

NET LEASE INVESTMENT OFFERING SITE PLAN

NET LEASE INVESTMENT OFFERING MAP

NET LEASE INVESTMENT OFFERING DEMOGRAPHIC REPORT

DEMOGRAPHIC Population 1-Mile 3-Mile 5-Mile REPORT: Total Population 14,582 32,065 47,792 Total Households 5,431 13,756 19,862

Income 1-Mile 3-Mile 5-Mile

Average Household Income $76,824 $54,880 $54,447

NET LEASE INVESTMENT OFFERING MARKET OVERVIEW

MARKET Goldsboro, North Carolina OVERVIEW: Goldsboro is a city in Wayne County, North Carolina, United States. The population was 36,437 at the 2010 Census. It is the principal city of and is included in the Goldsboro, North Carolina Metropolitan Statistical Area. The nearby town of Waynesboro was founded in 1787 and Goldsboro was incorporated in 1847. It is the county seat of Wayne County. The city is situated in North Carolina’s Coastal Plain and is bordered on the south by the Neuse River and the west by the Little River, about 43 miles southwest of Greenville, 55 miles southeast of Raleigh, the state capital, and 87 miles northwest of Wilmington in Southeastern North Carolina. Goldsboro is best known as home to Seymour Johnson Air Force Base.

NET LEASE INVESTMENT OFFERING TENANT OVERVIEW

TENANT Sheetz OVERVIEW: Sheetz, Inc. is an American chain of convenience stores and coffee shops owned by the Sheetz family. The stores sell a mix of fast food and convenience store items, and nearly all of them sell gasoline as well. Its headquarters are in Altoona, Pennsylvania. Stores are located in Pennsylvania, West Virginia, Maryland, Ohio, Virginia, and eastern and north-central North Carolina.

Sheetz has long employed the “Z” that the name ends with, and the “Sh” that the name begins with, in various marketing efforts. These include the Sheetz loadable gift card, the Sheetz Z-Card; the Sheetz chicken wings, known and marketed as “Shwingz”; the Sheetz breakfast sandwich, known and marketed as “Shmuffinz”; and their “Nachoz.”

Sheetz started off with their signature “MTO” name, which stands for “Made To Order.” By 1999, Sheetz was selling 10,000 MTO units a day. Sheetz now trains employees to function as baristas for their newest brand of “Sheetz Bros. Coffeez”, which are designed to be higher-grade coffee than typically found in convenience stores. With the introduction of the “Convenience Restaurant” concept, they have expanded their menu. Customers can purchase made-to-order sandwiches and hot dogs, as well as pizza, burritos, breakfast items, salads and chili. French fries, chicken strips, and other fried appetizers are available at all locations. The Espresso Bar, which offers specialty coffees, are also available at all locations. During 2008-2009, Sheetz rolled out “MTGo!”, a grab and go assortment of sandwiches, wraps and other small items for the customer in a hurry. Along with “MTGo!”, Sheetz unveiled “Shweetz Bakery” items including donuts, fritters and muffins all made and delivered daily from the new “Sheetz Bros. Kitchen” in Claysburg, Pennsylvania.

Website: www.sheetz.com Type: Private Employees: 17,500 Number of Locations: 580+ Revenue: $6.6 Billion

NET LEASE INVESTMENT OFFERING Randy Blankstein President 847.562.0003 [email protected]

Jimmy Goodman Partner 847.562.8500 [email protected]

3520 Lake Avenue, Suite 203 Wilmette, IL 60091