22020 Meridian E Graham, WA 98338 BROCHURE

20-Year, Absolute NNN, Investment Opportunity in an Income Tax Free State within a Rapidly Growing Seattle MSA Suburb

PAUL SLEETH BILLY SLEETH PATRICK ALLEN 206.409.5624 206.250.3944 206.858.8434 [email protected] [email protected] [email protected] THE OFFERING This newly constructed Burger King in Graham, Washington presents investors with a unique opportunity to acquire a 20-year, absolute NNN lease with a strong credit, pandemic proof tenant, in an income tax free state, within a rapidly growing Seattle MSA Suburb.

Price: $2,700,000 Financing: Free & Clear Cap Rate: 5% Grand Opening Date: April 21, 2020 Address: 22020 Meridian E, Graham, WA 98338 20 years Term: Building Area: 2,936 SF (10% increases every 5 years) Land Area: 20,743 SF (0.48 AC) Options: 4, 5 Year Options with 10% increases

BURGER KING, GRAHAM PAGE 4 INVESTMENT HIGHLIGHTS

NEW 20-YEAR ABSOLUTE NNN LEASE Burger King executed a 20-year initial lease term, with four, 5-year options, highlighting their commitment to this location and providing long term investment stability.

CONTRACTED RENTAL INCREASES The lease includes 10% contracted rental increases every 5 years of the 20-year initial term, with additional 10% increases at all four, 5-year options.

BRAND NEW, HIGH QUALITY CONSTRUCTION This is a newly constructed building from a preferred developer for Burger King, producing additional, long- term investment security.

PANDEMIC, RECESSION, AND E-COMMERCE PROOF The inclusion of a drive thru increases consumer draw and store sales while protecting against future pandemics, downturns, and e-commerce threats.

IMPRESSIVE TENANT SALES This Burger King location is performing ~18% better than the national average in regards to sales, even though they opened during COVID-19 and haven’t been able to open the dining room yet.

INCOME TAX FREE INVESTMENT Washington is an income tax free state.

BURGER KING, GRAHAM PAGE 5 INVESTMENT

HIGHLIGHTS (CONT.)

STRONG CREDIT TENANT Ambrosia QSR is one of the strongest and fastest growing franchise operators in the Pacific Northwest, with over 100 Burger King and Popeye’s locations throughout Washington and Oregon.

ACCESS & VISIBILITY Burger King is located directly on Meridian East, a main arterial serving in the Pierce County trade area, with over 27,000 ADT per day.

GROWING DEMOGRAPHICS/HIGH INCOMES There are nearly 110k residents with annual household incomes over $105k within a 5-mile radius. Incomes are expected to surpass $120k/yr by 2025.

NO DEBT Burger King is offered free and clear without any obligation to assume debt.

IMMEDIATE RETAIL TRADE AREA GROWTH Multiple recent and upcoming grand openings next door and adjacent to strong retail tenants including Safeway, Walgreens, Ace Hardware, Rite Aid, AutoZone, and a brand new Dutch Bro’s Coffee next door, providing draw and stability to the location.

BURGER KING, GRAHAM PAGE 6 SITE AERIAL

Sun’s TERIYAKI

Future 2021 Development

27,000 Meridian E VPD

15,875 224th St E VPD

BURGER KING, GRAHAM PAGE 9 TENANT DESCRIPTION

Public / Private: Public No. of Employees: 30,500+ 2019 FY Revenue: $5.6 Billion Parent Company: Restaurant Brands International No. of Locations: 18,383 in more then 100 countries and U.S. territories Website: www.bk.com

Every day, more than 11 million guests visit Burger King restaurants around the world. Founded in 1954, the Burger King brand is the second largest fast food hamburger chain in the world. Known for their commitment to premium ingredients, signature recipes, and family-friendly dining experiences; each location serves high-quality, great-tasting, and affordable food. They are a financially strong, well respected company, with over 18,000 locations in more than 100 countries and U.S. territories. Almost 100% of Burger King restaurants are owned and operated by independent franchisees, many of them fam- ily-owned operations that have been in business for decades.

Headquartered in Miami-Dade County, Florida, the company started as Insta-Burger King, a Jacksonville, Florida-based restaurant chain. After Insta-Burger King ran into financial difficulties, its two Miami-based franchisees David Edgerton and James McLamore purchased the company and renamed it “Burger King”. Over the next half-century, the company changed hands four times, with its third set of owners, a partnership of TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, taking it public in 2002. In late 2010, 3G Capital of Brazil acquired a majority stake in the company, in a deal valued at $3.26 billion. 3G, along with partner Berkshire Hathaway, eventually merged the company with the Canadian-based doughnut chain Tim Hortons, under the auspices of a new Canadian-based parent company named Restaurant Brands International.

FRANCHISE INFORMATION

Public / Private: Private No. of Locations: 100+ Website: www. ambrosiaqsr.com Lease Signature: Ambrosia QSR Burger, LLC

Ambrosia QSR is a multi-band QSR operating company based out of Portland, Oregon who currently own and operate 100 Burger King restaurants and 12 Popeye’s throughout Oregon and Washington State. Ambrosia QSR continues to grow and expand with the recent acquisition of 36 Burger King’s from FOR Northwest, LLC. The strength of Ambro- sia’s credit will improve even more as the company plans to open 10 new restaurants while acquiring an additional +40 operating restaurants in the Pacific Northwest in 2021.

BURGER KING, GRAHAM PAGE 13 22020 Meridian E Graham, WA 98338

PAUL SLEETH BILLY SLEETH PATRICK ALLEN 206.409.5624 206.250.3944 206.858.8434 [email protected] [email protected] [email protected]