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Offering Memorandum SALTGRASS STEAK HOUSE EXCLUSIVE NET LEASE OFFERING Subject Property OFFERING MEMORANDUM 4404 South JB Hunt Drive, Rogers, AR 72758 Confidentiality and Disclaimer Marcus & Millichap hereby advises all prospective purchasers of investigation of all matters affecting the intrinsic value of the NON-ENDORSEMENT NOTICE Net Leased property as follows: property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant Marcus & Millichap Real Estate Investment Services, Inc. The information contained in this Marketing Brochure has been should default or abandon the property, and the lease terms (“M&M”) is not affiliated with, sponsored by, or endorsed by any obtained from sources we believe to be reliable. However, that Buyer may be able to negotiate with a potential commercial tenant or lessee identified in this marketing Marcus & Millichap has not and will not verify any of this replacement tenant considering the location of the property, package. The presence of any corporation’s logo or name is not information, nor has Marcus & Millichap conducted any and Buyer’s legal ability to make alternate use of the property. intended to indicate or imply affiliation with, or sponsorship or investigation regarding these matters. Marcus & Millichap makes By accepting this Marketing Brochure you agree to release endorsement by, said corporation of M&M, its affiliates or no guarantee, warranty or representation whatsoever about the Marcus & Millichap Real Estate Investment Services and hold it subsidiaries, or any agent, product, service, or commercial listing accuracy or completeness of any information provided. harmless from any kind of claim, cost, expense, or liability arising of M&M, and is solely included for the purpose of providing out of your investigation and/or purchase of this net leased tenant lessee information about this listing to prospective As the Buyer of a net leased property, it is the Buyer’s property. customers. responsibility to independently confirm the accuracy and completeness of all material information before completing any CONFIDENTIALITY AND DISCLAIMER ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE purchase. This Marketing Brochure is not a substitute for your CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE thorough due diligence investigation of this investment The information contained in the following Marketing Brochure DETAILS. opportunity. Marcus & Millichap expressly denies any obligation is proprietary and strictly confidential. It is intended to be to conduct a due diligence examination of this Property for reviewed only by the party receiving it from Marcus & Millichap Special COVID-19 Notice Buyer. and should not be made available to any other person or entity All potential buyers are strongly advised to take advantage of without the written consent of Marcus & Millichap. This their opportunities and obligations to conduct thorough due Any projections, opinions, assumptions or estimates used in this Marketing Brochure has been prepared to provide summary, diligence and seek expert opinions as they may deem necessary, Marketing Brochure are for example only and do not represent unverified information to prospective purchasers, and to especially given the unpredictable changes resulting from the the current or future performance of this property. The value of establish only a preliminary level of interest in the subject continuing COVID-19 pandemic. Marcus & Millichap has not a net leased property to you depends on factors that should be property. The information contained herein is not a substitute been retained to perform, and cannot conduct, due diligence on evaluated by you and your tax, financial and legal advisors. for a thorough due diligence investigation. Marcus & Millichap behalf of any prospective purchaser. Marcus & Millichap’s has not made any investigation, and makes no warranty or principal expertise is in marketing investment properties and Buyer and Buyer’s tax, financial, legal, and construction advisors representation, with respect to the income or expenses for the acting as intermediaries between buyers and sellers. Marcus & should conduct a careful, independent investigation of any net subject property, the future projected financial performance of Millichap and its investment professionals cannot and will not leased property to determine to your satisfaction with the the property, the size and square footage of the property and act as lawyers, accountants, contractors, or engineers. All suitability of the property for your needs. improvements, the presence or absence of contaminating potential buyers are admonished and advised to engage other substances, PCB’s or asbestos, the compliance with State and professionals on legal issues, tax, regulatory, financial, and Like all real estate investments, this investment carries Federal regulations, the physical condition of the improvements accounting matters, and for questions involving the property’s significant risks. Buyer and Buyer’s legal and financial advisors thereon, or the financial condition or business prospects of any physical condition or financial outlook. Projections and pro must request and carefully review all legal and financial tenant, or any tenant’s plans or intentions to continue its forma financial statements are not guarantees and, given the documents related to the property and tenant. While the occupancy of the subject property. The information contained in potential volatility created by COVID-19, all potential buyers tenant’s past performance at this or other locations is an this Marketing Brochure has been obtained from sources we should be comfortable with and rely solely on their own important consideration, it is not a guarantee of future success. believe to be reliable; however, Marcus & Millichap has not projections, analyses, and decision-making.) Similarly, the lease rate for some properties, including newly- verified, and will not verify, any of the information contained constructed facilities or newly-acquired locations, may be set herein, nor has Marcus & Millichap conducted any investigation Activity ID: ZAB0330078 based on a tenant’s projected sales with little or no record of regarding these matters and makes no warranty or actual performance, or comparable rents for the area. Returns representation whatsoever regarding the accuracy or are not guaranteed; the tenant and any guarantors may fail to completeness of the information provided. All potential buyers pay the lease rent or property taxes, or may fail to comply with must take appropriate measures to verify all of the information other material terms of the lease; cash flow may be interrupted set forth herein. in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own Table of Contents Investment Highlights 4 Financial Analysis 5 Concept/Tenant Overview 6-8 Surrounding Area 9 Location Overview 10 Property Photos 11-12 Surrounding Area Photos 13 Local Map 14 Regional Map 15 Demographics 16 Market Overview 17 Investment Highlights About the Investment Corporate Guaranty (Saltgrass, Inc.) | 90 Units and Growing Brand New Summer 2020 Construction Long-Term, 20-Year Triple-Net (NNN) Lease with 19+ Years Remaining Rental Increases of 1.3x the Change in CPI (Capped at 10%) Every Five Years Four (4), Five (5)-Year Tenant Renewal Option Periods About the Location Extremely Affluent Suburban Area | Average Household Income Exceeds $172,000 for Homes within One Mile of the Subject Property Dense Retail Corridor | Pinnacle Hills Promenade (97 Stores), Walmart Neighborhood Market, Home Depot, Target, Walgreens, Dillard’s, Best Buy, Dave & Buster’s, Chick- fil-A, Red Lobster, Taco Bell, Slim Chickens, Twin Peaks, Five Guys, Qdoba, Starbucks and Many More Strong Underlying Real Estate | Within Walking Distance of Top Golf, Walmart AMP, and Pinnacle Heights (Luxury Apartments Under Construction) | Less than Five Miles from Walmart’s Headquarters in Bentonville, AR Heavily Trafficked Area | Positioned Just Off West Pauline Whitaker Parkway, which Intersects with Interstate-49 | 16,000 and 81,500 Vehicles Per Day, Respectively Expansive Population Growth | Population within a Three-Mile Radius is Projected to Increase by More than 17% by 2025 Immediate Access to Healthcare | Less than One Mile from Mercy Hospital Northwest Arkansas | Recently Underwent a $133 Million Expansion that Added 150 Patient Beds | 300+ Total Patient Beds Strategically Positioned Just Off Interstate-49 | Provides Direct Access into Downtown Fayetteville | Third-Most Populous City in the State of Arkansas About the Brand Strong and Growing Operator | 90 Saltgrass Steak House Locations Across 12 States Landry’s, Inc. Operates Over 600 Restaurants and Five Golden Nugget Hotel & Casinos, as Well as Numerous Hotels and Other Entertainment Destinations Landry’s, Inc. Prides Themselves on Their Prestigious Reputation Upheld by a Commitment to Customer Service and Satisfaction Tilman Fertitta Recently Announced Plans to Take Golden Nugget and Landry’s Public in $6.6 Billion SPAC Merger! 4 Financial Analysis PRICE: $5,578,886 | CAP: 6.00% | Rent: $334,733 Property Description Rent Schedule Property Saltgrass Steak House Lease Year(s) Annual Rent Monthly Rent Rent Escalation (%) 8/1/2020 - 8/31/2021 $334,733 $27,894 - Property Address 4404 South JB Hunt Drive 9/1/2021 - 8/31/2022 $334,733 $27,894
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