Offering775 NE ALSBURYMemorandum BLVD | BURLESON, TX

RACETRAC 775 NE ALSBURY BLVD BURLESON, TX 76028 REPRESENTATIVE PROPERTY

EXCLUSIVELY LISTED BY : 1 STEVEN J. SIEGEL | SENIOR MANAGING DIRECTOR Executive Director - Institutional Property Advisors (IPA) Senior Managing Director - Investments Office: (212) 430-5166 National Retail Group Cell: (646) 996-3709 E-mail: [email protected] ThisNet information Leased Properties has been securedGroup from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the informationLicense: and NYbears: 30SI0857139 all risk for any NJ:inaccuracies. 0015107 Any CT: projections,REB.0754170 opinions, assumptions or estimates used herein are for example purposes only and do not represent RACETRAC the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 1 STEVEN J. SIEGEL Associate DirectorSJS & Partners LLC

Office: (212) 430-5293 Cell: (914) 525-7735 E-mail: [email protected] License: NY: 10401253283

775 NE ALSBURY BLVD | BURLESON, TX 775 NE ALSBURY BLVD | BURLESON, TX

Investment Contacts

STEVEN J. SIEGEL PHIL BIANCAVILLA Executive Director Associate DirectorSJS & Partners LLC Institutional Property Advisors (IPA) Senior Managing Director - Investments Office: (212) 430-5293 Cell: (914) 525-7735 Office: (212) 430-5166 E-mail: [email protected] Cell: (646) 996-3709 License: NY: 10401253283 E-mail: [email protected] License: NY: 30SI0857139 NJ: 0015107 NICHOLAS GILLOTT CT: REB.0754170 Senior Financial Analyst

Office: (646) 805-1455 E-mail: [email protected]

M&M CAPITAL CORP CHRISTOPHER MARKS First Vice President - Capital Markets, Origination Office: (212) 430-5137 Cell: (516) 448-3293 E-mail: [email protected]

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or RACETRAC age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent 2 the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 775 NE ALSBURY BLVD | BURLESON, TX

Table of Contents

5 Investment Overview

6 Offering Summary

7 Property Details

8 Tenant & Lease Overview

9-13 Maps

14-16 Demographic & Location Overview

3

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent RACETRAC the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 3 775 NE ALSBURY BLVD | BURLESON, TX 775 NE ALSBURY BLVD | BURLESON, TX

REPRESENTATIVE PROPERTY

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or RACETRAC age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent 4 the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 775 NE ALSBURY BLVD | BURLESON, TX

Investment Highlights

NNN RaceTrac located at 775 NE Alsbury Boulevard, Major retailers and points of interest surrounding RaceTrac Burleson TX at the intersection of NE Alsbury Boulevard include Huguley Hospital, Kohl's, Michaels, T.J. Maxx, (20,310 VPD) and Commercial Boulevard. Petsmart, Best Buy, AMC, House, TGI Fridays, Burger King, McDonald's, Hampton Inn & Suites, La Quinta Inn & Subject property has a GLA of 3,990 SF and is situated on a Suites and Many Others. 1.94-Acre Lot. RaceTrac is in an affluent and dense location with over 68,200 10 years remaining in the base term of a NNN lease with 7.50% people living within a 3-Mile radius with an Average increases every 5 years. Household Income of over $88,300

RaceTrac ranked #39 on the list of America’s Largest Private Companies by Forbes with $8.7 billion in sales.

RaceTrac is conveniently located directly behind Burleson Town Center, a JC Penny & Alberton's anchored retail center with frontage along South Freeway, a major retail road running parallel with I-35W

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent RACETRAC the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 5 775 NE ALSBURY BLVD | BURLESON, TX 775 NE ALSBURY BLVD | BURLESON, TX Offering Summary

PRICE $4,284,000

Cap Rate* 5.60% Price Per SF $1,074 Gross Leasable Area 3,990 SF NOI** $239,940 Expiration June 18, 2030 Lease Years Remaining 10 Lot Size 1.94 Acres Lease Type NNN

Rent Schedule

PERIOD COMMENCEMENT DATE EXPIRATION DATE ANNUAL RENT MONTHLY RENT RPSF PERCENTAGE INCREASE Years 1-5 6/19/2015 6/18/2020 $223,200 $18,600 $56 7.50% Years 6-10 6/19/2020 6/18/2025 $239,940 $19,995 $60 7.50% Years 11-15 6/19/2025 6/18/2030 $257,936 $21,495 $65 7.50% option 1 6/19/2030 6/18/2035 $277,281 $23,107 $69 7.50% option 2 6/19/2035 6/18/2040 $298,077 $24,840 $75 7.50% option 3 6/19/2040 6/18/2045 $320,433 $26,703 $80 7.50% option 4 6/19/2045 6/18/2050 $344,465 $28,705 $86 7.50% option 5 6/19/2050 6/18/2055 $370,300 $30,858 $93 7.50% option 6 6/19/2055 6/18/2060 $398,073 $33,173 $100 7.50% option 7 6/19/2060 6/18/2065 $427,928 $35,661 $107 7.50%

**Seller will credit buyer the difference in the current rent and the increased rent in 6/19/2020 times the number of months from closing until the increase. *Based on 6/19/2020 Annual Rent of $239,940

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or RACETRAC age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent 6 the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 775 NE ALSBURY BLVD | BURLESON, TX Property Details

Street Address 775 NE Alsbury Blvd,

City State Zip Burleson, TX 76028

Building SF 3,990

Lot Size 1.94 AC

Tax ID 33321-1-1

Zoning N/A

SUBJECT PROPERTY

7 SUBJECT PROPERTY

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent RACETRAC the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 7 775 NE ALSBURY BLVD | BURLESON, TX 775 NE ALSBURY BLVD | BURLESON, TX Tenant & Lease Overview

Tenant Overview - RACETRAC RACETRAC Lease Abstract

Tenant RaceTrac Tenant Name RaceTrac Petroleum, Inc. Industry Gas/Convenience Original Lease Term 15 Years Public/Private Private Remaining Term 10 Years Revenue $9.1B Lease Expiration June 19, 2030 Number of Stores 670 Lease Type Triple Net (NNN) Headquarters , GA Ownership Interest Fee Simple Website www..com Rent Escalations 7.5% Every 5 Years year founded 1934 Annual Rent $239,940 Rent per GLA $56.67 Expenses None Tenant RaceTrac

RaceTrac operates a chain of convenience stores and gasoline service stations across the Southern . RaceTrac Petroleum Inc. operates over 670 convenience stores and gaso-line stations under the RaceTrac and RaceWay banners. RaceTrac stores are company owned and operated while RaceWay stores are leased to a third party contractor.

RaceTrac Petroleum is ranked #39 on the list of America’s 100 Largest Private Companies by Forbes with $8.7 Billion in sales for the fiscal year of 2017 and 8,716 employees.

Convenience Store News rates RaceTrac Petroleum as #18 and Raceway as #33 on their list of the Top 202 Convenience Stores of 2018. Most RaceTracs feature 20 to 24 fueling positions and a 5,000+ sq. ft. conve-nience store offering over 4,000 items. In January 2012, RaceTrac introduced its new 6,000 square-foot store design, the RT6K, which features Swirl World frozen yogurt and toppings, free wi-fi internet, 360-degree brick walls and in-door and outdoor seating. A key feature of the RT6K model is also more back-room space allowing for more storage and room to move around. Check out is located in the center of the store for easy access. Raceway locations operate as a franchisee of RaceTrac Petroleum Inc. Race-Trac owns the site, the building and gas facility. Each store is modeled after and offers products reflecting the local culture of the surrounding area. The operators must use the company’s proprietary gasoline brand and pay a com-mission per gallon sold. The inside inventory and sales are the responsibility of the operator.

RaceTrac is rapidly expanding. The chain recently entered the Nashville market, where it plans to open 30 news stores by 2023. Nashville marks the chain’s first expansion into a new market in more than 15 years, company officials said. They have also opened dozens of new stores in in recent years, making it home to nearly half of RaceTrac’s entire network.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or RACETRAC age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent 8 the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 775 NE ALSBURY BLVD | BURLESON, TX Parcel Map

SUBJECT PROPERTY

COMMERCIAL BLVD

NE ALSBURY BLVD / 20,310 VPD

9

*Borders are approximate and to be used for reference purposes only.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent RACETRAC the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 9 775 NE ALSBURY BLVD | BURLESON, TX 775 NE ALSBURY BLVD | BURLESON, TX Parcel Map

SUBJECT PROPERTY

COMMERCIAL BLVD BLVD COMMERCIAL COMMERCIAL

NE ALSBURY BLVD / 20,310 VPD

*Borders are approximate and to be used for reference purposes only.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or RACETRAC age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent 10 the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 775 NE ALSBURY BLVD | BURLESON, TX Regional Map

SUBJECT PROPERTY

11

*Borders are approximate and to be used for reference purposes only.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent RACETRAC the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 11 775 NE ALSBURY BLVD | BURLESON, TX 775 NE ALSBURY BLVD | BURLESON, TX Retail Map

E Rendon Crowley Rd S Crowley Rd Crowley S

Crowley Plover Rd

SUBJECT PROPERTY

NE Alsbury Blvd N Burleson Blvd

NE Wilshire Blvd

N

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or RACETRAC age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent 12 the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 775 NE ALSBURY BLVD | BURLESON, TX

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REPRESENTATIVE PROPERTY

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent RACETRAC the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 13 775 NE ALSBURY BLVD | BURLESON, TX 775 NE ALSBURY BLVD | BURLESON, TX Location Overview

3 MILE RADIUS OF 775 NE ALSBURY BLVD | BURLESON, TX

KEY FACTS EDUCATION

68,279 34.0 8% Population Median Age No High 37% School Diploma Some College 3.0 $88,336 31% 24% Average Household High School Bachelor's/Grad/Prof Average Household Size Income Graduate Degree

BUSINESS EMPLOYMENT

65% White Collar 24% 5.2% Blue Collar 1,823 19,127 Unemployment 11% Rate Total Businesses Total Employees Services

INCOME Households By Income The largest group: $50,000 - $74,999 (20.1%) The smallest group: $200,000+ (4.5%) Indicator Value Difference <$15,000 5.2% -0.8% $15,000 - $24,999 4.8% -2.1% $25,000 - $34,999 7.1% -2.0% $35,000 - $49,999 12.2% -1.1% $50,000 - $74,999 20.1% -2.3% $75,000 - $99,999 19.4% +3.3% $100,000 - $149,999 20.0% +3.0% $75,658 $29,737 $159,646 $150,000 - $199,999 6.9% +0.5% $200,000+ 4.5% +1.7% Median Household Per Capita Income Median Net Worth Income Bars show deviation from Johnson County

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or RACETRAC age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent 14 the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 775 NE ALSBURY BLVD | BURLESON, TX

About BURLESON, Burleson is a city in Johnson and Tarrant counties in the U.S. state Fort Worth Spinks Airport, on the northern edge of the Burleson of Texas. It is a suburb of Fort Worth. As of the 2010 census it city limits, serves Burleson’s local general aviation needs. Burleson had a population of 36,690,[3] and in 2017 it had an estimated is about 40 miles from Dallas/Fort Worth International Airport population of 46,145. via major highways. (source: https://en.wikipedia.org/wiki/Burleson,_Texas) Most of Burleson is in northern Johnson County, with a small portion extending north into Tarrant County. The city is bordered to the north by the cities of Crowley and Fort Worth, and to the southwest by the city of Joshua. The Burleson city limits extend southeast from the city center 8 miles in a narrow corridor toward Alvarado along Interstate 35W.

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BURLESON, TX BURLESON, TX

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent RACETRAC the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 15 775 NE ALSBURY BLVD | BURLESON, TX 775 NE ALSBURY BLVD | BURLESON, TX

BURLESON, TX

2019 Summary 1 Mile 3 Miles 5 Miles Population 10,788 68,279 126,301 Households 3,560 22,964 41,829 Families 2,783 17,767 32,967 Average Household Size 3.03 2.96 3.01 Owner Occupied Housing Units 2,919 17,565 32,454 Renter Occupied Housing Units 641 5,400 9,375 Median Age 33.6 34.0 34.1 Median Household Income $78,141 $75,658 $75,199 Average Household Income $92,559 $88,336 $88,538

Pulled from STDB.com

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or RACETRAC age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent 16 the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 775 NE ALSBURY BLVD | BURLESON, TX

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Pulled from STDB.com

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent RACETRAC the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap 17