Representative Photo

3725 CASCADE ROAD , GA 30331 OFFERING MEMORANDUM

Capital Markets | Net Lease Property Group CHICK-FIL-A GROUND LEASE

INVESTMENT CONTACTS

Chris Bosworth Executive Vice President T +1 404 923 1486 F +1 404 923 1208 [email protected]

Will Pike Executive Vice President T +1 404 923 1381 F +1 404 923 1208 [email protected]

Brian Pfohl Capital Markets Manager T +1 404 504 7893 F +1 404 923 1208 [email protected]

CBRE, Inc. 3280 Peachtree Road NE, Suite 1400 Atlanta, GA 30305 +1 404 504 7900 www.cbre.com/nlpgatlanta Click Here to View in Maps

Representative Photo AFFILIATED BUSINESS DISCLOSURE CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses representatives make any representation or warranty, expressed or implied, as to the accuracy or including, but not limited to, brokerage services, property and facilities management, valuation, completeness of this Memorandum or any of its contents, and no legal commitment or obligation investment fund management and development. At times different Affiliates may represent various shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to clients with competing interests in the same transaction. For example, this Memorandum may rely solely on your investigations and inspections of the Property in evaluating a possible purchase be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, of the real property. or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any interest or offers to purchase the Property, and/or to terminate discussions with any entity at any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in time with or without notice which may arise as a result of review of this Memorandum. The Owner the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best shall have no legal commitment or obligation to any entity reviewing this Memorandum or making interest of the client(s) it represents in the transaction described in this Memorandum and will an offer to purchase the Property unless and until written agreement(s) for the purchase of the not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to Property have been fully executed, delivered and approved by the Owner and any conditions to the the detriment of any other offeror or prospective offeror, but rather will conduct its business in a Owner’s obligations therein have been satisfied or waived. manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the By receipt of this Memorandum, you agree that this Memorandum and its contents are of a transaction described in this Memorandum. confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written CONFIDENTIALITY AGREEMENT authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc. This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the

“Owner”), to be all-inclusive or to contain all or part of the information which prospective investors DISCLAIMER may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the ©2017 CBRE, Inc. The information contained in this document has been obtained from sources general economy, market conditions, competition and other factors beyond the control of the believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and it and makes no guarantee, warranty or representation about it. It is your responsibility to made herein are subject to material variation. All references to acreages, square footages, and independently confirm its accuracy and completeness. Any projections, opinions, assumptions other measurements are approximations. Additional information and an opportunity to inspect or estimates used are for example only and do not represent the current or future performance the Property will be made available to interested and qualified prospective purchasers. In this of the property. The value of this transaction to you depends on tax and other factors which Memorandum, certain documents, including leases and other materials, are described in summary should be evaluated by your tax, financial and legal advisors. You and your advisors should form. These summaries do not purport to be complete nor necessarily accurate descriptions of conduct a careful, independent investigation of the property to determine to your satisfaction the full agreements referenced. Interested parties are expected to review all such summaries the suitability of the property for your needs. and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. TABLE OF CONTENTS

EXECUTIVE SUMMARY 6

PROPERTY OVERVIEW 9

TENANT OVERVIEW 12

MARKET OVERVIEW 13

5 Click Here to View in Maps

UNIQUE NET LEASE INVESTMENT OPPORTUNITY IN ATLANTA

CBRE is pleased to exclusively offer the opportunity to acquire a 4,561-square-foot Absolute NNN Chick-fil-A ground lease situated on 1.598 acres in Atlanta, GA (MSA Population: 5.7 million). Chick-fil-A’s 15 year lease with a 10% rent increase in Year 11 and in each of the eight 5-year option periods will commence upon completion of construction (Estimate: April 2017). The property is ideally positioned just 9 miles west of Atlanta’s CBD with excellent frontage and visibility on a hard corner at the signalized intersection of Cascade Road and Fairburn Road (Combined Traffic Count: 39,100 VPD), just west of Interstate 285 (Traffic Count: 139,100 VPD), which is the ring highway that encircles the entire Atlanta MSA and provides easy access to anywhere in the city. Chick-fil-A is strategically located in a densely developed retail corridor immediately adjacent to Tires Plus, and directly across from both Walgreens and the 63,346-square-foot Cascade Crossing Shopping Center which is anchored by Publix. Other major retailers with a presence in the immediate retail corridor include Walmart Supercenter, Home Depot, Kroger, Applebee’s, Domino’s Pizza, SunTrust, Starbucks, Wells Fargo, Citizens Trust Bank, AT&T, GNC, American Deli, Pizza Hut, Subway, Wendy’s, McDonald’s, KFC and Bank of America among many others. In all, there is more than 3.0 MSF of retail, 9.8 MSF of industrial space, and 9,042 multifamily units within a 3-mile radius. In addition, Chick-fil-A is situated approximately 6 miles south of the 290-acre Six Flags Over amusement park which attracts 2.7 million visitors annually. Moreover, the property benefits from ideal demographics with a population and average household NOI: $90,000 income of 52,460 and $53,879, respectively. The residential housing market in the area has also PRICE: $2,400,000 been very strong in recent years with housing values doubling over the last 5 years. CAP: 3.75%

6 Representative Photo DOWNTOWN ATLANTA: MIDTOWN ATLANTA: Kaiser Permanente Cascade Medical Center 27.7 MSF OF OFFICE 22.5 MSF OF OFFICE

Starbucks INDUSTRIAL 139,100 VPD Cascade Road Driving Range

Walmart Supercenter SpineAlign Center

National Bank Branch

FAIRBURN ROAD - 10,900 VPD

Cascade Oaks Apartments: 112 Units 7

CASCADE ROAD - 28,200 VPD PREMIER QSR BRAND ONLY CHICK-FIL-A WITHIN 3-MILE RADIUS

Founded in 1946, Chick-fil-A is the leading quick-service chicken restaurant in the country with This is the only Chick-fil-A within a 3-mile radius and will serve the well populated neighborhoods of over 2,100 locations in 46 states and Washington D.C. Annual sales exceed $6 billion and the West Manor, Wildwood, Midwest Cascade, Ashley Courts, Ole Fairburn Village, and Niskey Lake. company has seen 48 consecutive years of positive sales growth. EXCELLENT ACCESS/VISIBILITY LONG-TERM ABSOLUTE NNN GROUND LEASE Chick-fil-A is positioned with with excellent frontage and visibility on a hard corner at the signalized 15-year absolute NNN ground lease with eight 5-year options to renew will commence upon intersection of Cascade Road and Fairburn Road (Combined Traffic Count: 39,100 VPD), just west of completion of construction. The Lease includes a 10% rent increase in Year 11 and each of the Interstate 285 (Traffic Count: 139,100 VPD), which is the ring highway that encircles the entire Atlanta eight 5-year renewal options. MSA and provides easy access to anywhere in the city.

NEW CONSTRUCTION IDEAL DEMOGRAPHICS

Currently under construction, Chick-fil-A is scheduled to open for business in April 2017. The The community surrounding this Chick-fil-A location is one of the oldest settled areas in the Atlanta construction of this new freestanding restaurant displays Chick-fil-A’s strong commitment to Atlanta MSA. More than 52,460 people with an average household income of $53,879 live within a 3-mile and this submarket. radius. The residential housing market in the area has also been very strong in recent years with housing values doubling over the last 5 years. DENSELY DEVELOPED RETAIL CORRIDOR ATLANTA ADVANTAGE Chick-fil-A is strategically located in a densely developed retail corridor immediately adjacent to Tires Plus, and directly across from both Walgreens and the 63,346-square-foot Cascade Atlanta is the hub and economic engine of the Southeast, which is the fastest growing region in the U.S. Crossing Shopping Center which is anchored by Publix. Other major retailers with a presence The city’s thriving economy and job base, coupled with its high quality and low cost of living, make it an in the immeidate retail corridor include Walmart Supercenter, Home Depot, Kroger, Applebee’s, ideal destination to draw young and educated talent from the region’s major universities. With an overall Domino’s Pizza, SunTrust, Starbucks, Wells Fargo, Citizens Trust Bank, AT&T, GNC, American Deli, population of 5.7 million throughout the 28-county metro area, Atlanta is the 9th-largest MSA in the United Pizza Hut, Subway, Wendy’s, McDonald’s, KFC and Bank of America among many others. In all, States and is projected to be the 6th most populated metro area by 2020. Over the course of the 990s and there is more than 3.0 MSF of retail, 9.8 MSF of industrial space, and 9,042 multifamily units into the 2000s, Atlanta evolved from the regional “capital” of the Southeast into its current distinction as within a 3-mile radius. a leading international city for business. During that period of time, Atlanta led the U.S. economy in terms of job growth, averaging between 80,000 and 100,000 new jobs created each year for several years. While the job market cooled between 2008 and 2010, over the last two years, Atlanta’s positive economic momentum has returned. Atlanta prospers by combining layers of logistical advantages with low cost of doing business, an educated workforce and high quality of living. Diversified and substantial investment from corporations and state and local governments make Atlanta an incredible place to do business. 8 PROPERTY SUMMARY LEASE SUMMARY

NOI: $90,000 LEASE COMMENCEMENT April 27, 2017 (Estimate) 3725 Cascade Road ADDRESS: LEASE EXPIRATION April 30, 2032 (Estimate) Atlanta, Georgia 30331

TENANT: Chick-fil-A, Inc. PRIMARY LEASE TERM 15 Years

PARKING: 47 Spaces LEASE TYPE Absolute NNN Ground Lease

Years 1-5: $90,000 BUILDING SIZE: 4,561 SF INITIAL TERM RENT Years 11-15: $99,000 PARCEL SIZE: 1.59 Acres OPTIONS Eight 5-year options YEAR BUILT: 2017 OPTION RENT INCREASES 10% increases in every option

Actual Rendering Option 1: $108,900 Option 2: $119,790 Option 3: $131,769 Option 4: $144,946 OPTION RENT Option 5: $159,440 Option 6: $175,385 Option 7: $192,923 Option 8: $212,215

DEMOGRAPHICS 1 mile radius 3 mile radius 5 mile radius

POPULATION 4,692 52,460 152,394

2016 EST. AVERAGE HOUSEHOLD INCOME $48,327 $53,879 $50,869

9 LEASE SUMMARY

Tenant will pay and agrees to discharge, during the term of this Lease, before delinquency, all taxes which are with respect to the Land and Buildings and the personal property by Tenant which are or thereafter located thereon, including, but not limited to, all taxes, assessments, levies TAXES and all other governmental impositions and charges of every kind and nature whatsoever, as additional rent, pay and discharge punctually, all taxes and assessments be charged, levied, laid, assessed, imposed, become due and payable, or liens upon or for or with respect to the Land or any part thereof, or any buildings, appurtenances or equipment owned by Tenant thereon or therein or any part thereof.

Tenant will obtain and keep in force commercial general liability insurance covering the Land with limits of at least $3,000,000 per FAIRBURN ROAD SW - 10,900 VPD occurrence and $5,000,000 in the aggregate for bodily injury and property damage. Tenant is permitted to maintain a self-insured retention INSURANCE with respect to its commercial general liability coverage. Tenant will keep Tenant’s buildings, and improvements on the Laand insured against loss or damage by fire and customary extended coverage on a replacement cost basis.

Tenant will, at all times and at its own cost and expense, maintain all buildings and improvements, including sidewalks, landscaping and REPAIRS AND MAINTENANCE roads on the Land in good condition and repair, and will not permit waste or nuisance. National Bank Branch

Cascade Oaks CASCADE ROAD - 28,200 VPD Apartments: 112 Units

Actual Construction Photo FAIRBURN ROAD SW - 10,900 VPD

National Bank Branch

Cascade Oaks CASCADE ROAD - 28,200 VPD Apartments: 112 Units

13 CORPORATE OVERVIEW

Chick-fil-A, Inc. is an American fast food restaurant chain headquartered in the Atlanta suburb of College Park, Georgia. The company specializes in chicken dishes offering chicken Actual Rendering entrees, sandwiches, and salads, as well as breakfast, desserts, and beverages among others. With 48 consecutive years of positive sales growth, Chick-fil-A has set itself apart by its innovative and unique marketing techniques and delicious products – including the ever-popular Chick-fil-A chicken sandwich. With its first restaurant opening in 1946, Chick-fil-A 3725 Cascade Road has steadily grown to become the largest quick-service chicken restaurant chain in the United States, based on domestic annual Atlanta, Georgia 30331 sales. The company has over 2,100 locations in 46 states and Washington, D.C. with annual sales exceeding $6 billion. Furthermore, Chick-fil-A leads the quick service restaurant industry in per-store gross sales at $3.1 million. With its story beginning in a shopping mall, Chick-fil-A is recognized as the pioneer in quick service mall food. Chick-fil-A still considers mall-based restaurants an integral part of its business with nearly 300 major shopping mall restaurants in operation today. However, in response to customer demand for convenience and accessibility, Chick-fil-A began opening stand-alone restaurants in high traffic locations starting in 1986. The chain now has over 1,350 stand-alone locations. As one of the most successful quick service restaurants, Chick-fil-A franchisee are always in high demand with the company receiving 10,000 to 25,000 applications from potential franchise operators for the 75-80 stores they open each year.

Actual Rendering ATLANTA: CAPITAL OF THE SOUTHEAST

Atlanta is the hub and economic engine of the Southeast, which is the fastest growing region city for business. During that period of time, Atlanta led the U.S. economy in terms of job in the U.S. The city’s thriving economy and job base, coupled with its high quality and low cost growth, averaging between 80,000 and 100,000 new jobs created each year for several of living, make it an ideal destination to draw young and educated talent from the region’s years. While the job market cooled between 2008 and 2010, over the last two years, Atlanta’s major universities. positive economic momentum has returned. Atlanta prospers by combining layers of logistical advantages with low cost of doing business, an educated workforce and high quality of living. With an overall population of 5.7 million throughout the 28–county metro area, Atlanta is Diversified and substantial investment from corporations and state and local governments the ninth–largest MSA in the United States and is projected to be the 6th most populated make Atlanta an incredible place to do business. As further proof that Atlanta is a mainstay of metro area by 2020. Over the course of the 1990s and into the 2000s, Atlanta evolved from global commerce, this fast-growing metropolis is also host to the busiest airport in the world, the regional “capital” of the Southeast into its current distinction as a leading international Hartsfield-Jackson Atlanta International Airport.

13 METRO ATLANTA & SURROUNDING AREAS FORTUNE 500 COMPANIES HEADQUARTERED IN AREA State Rank Company Ticker Fortune 500 Rank Revenue 1 HD 28 $88.5 2 UPS 48 Revenues$58.3 (Billion) 3 The Coca-Cola Company KO 62 $44.2 4 DAL 68 $40.7 5 Southern Co. SO 162 $17.4 6 Genuine Parts Co. GPC 183 $15.2 7 First Data Corp. FDC 249 $11.4 8 HD Supply AGCO 320 $8.7 9 Veritiv RKT 323 $8.7 10 SunTrust Banks Inc. STI 329 $8.5 11 Mohawk Industries HDS 338 $8.0 12 AGCO CCE 360 $7.4 13 Asbury Automotive Group, Inc. MHK 393 $6.5 14 Coca-Cola European Partners NCR 397 $6.5 15 NCR NWL 409 $6.3 16 PulteGroup, Inc. PHM 433 $5.9 17 Newell Brands ABG 434 $5.9

Source: Fortune 500 (2016) FORTUNE 10 CITIES HEADQUARTERS Number of Fortune City State 500 Company HQs

New York NY 50 Houston TX 25 Atlanta GA 17 Dallas TX 9 Chicago IL 9 Cincinnati OH 7 St. Louis MO 7 Irving TX 6 Minneapolis MN 6 Source: 2016 FORTUNE 500 list, Metro Atlanta Chamber 14 FORTUNE 10 CITIES HEADQUARTERS

13 MARKET AT A GLANCE JOB GROWTH IS REVVING UP AGAIN Atlanta has held its place in the Top 5 cities for Fortune 500 headquarters for over a decade. ECONOMIC STRENGTH AND STABILITY Looking forward, Atlanta’s diverse economy, strong in-migration, population growth, and »» Atlanta’s economy ranks 15th among world cities and sixth in the nation business-friendly environment are expected to fuel above-average job growth. Moody’s Economy.com forecasts a robust expansion with nearly 200,000 new jobs by 2018. The »» Home to 17 Fortune 500 company headquarters, including Delta, Coca-Cola, UPS, The indexed employment chart below also indicates Atlanta’s robust recovery following the Home Depot, and . Also home to notable private companies and major national economic recession, outpacing the national recovery significantly. This trend is further subsidiaries including GE Power Systems, Georgia Pacific, , Porsche USA, and Novellis. emphasized among the nation’s Top 10 office markets. Atlanta currently ranks second among its peers with a 3.1% 12-month average employment growth and will continue to hold a strong »» Over 2,100 international companies are represented in Atlanta position over the next five years. Coupled with minimal office development, this outstanding growth trend has resulted in an office market that continues to tighten and record rent growth. »» Total employment base stands at 2.66 million jobs

»» Cost of living is below the U.S. average

»» Atlanta has been recognized for some of the lowest operating costs in the nation

»» Hartsfield-Jackson Atlanta International Airport is #1 in the world in passenger volume, serving 90+ million passengers annually with over 90 international destinations in 55 countries and over 260,000 passengers per day

MAJOR POPULATION CENTER

»» The 28-county MSA–the nation’s 9th largest–contains approximately 5.7 million people

»» More than 58% of individuals 25+ years of age have post-secondary education, well above the national average of 52%

»» Median household income has increased 62% since 1990, with 22.5% of households currently earning $100,000+ annually

HIGHLY EDUCATED WORKFORCE

»» Ranked as 7th Major U.S. city for production of graduates with Bachelor’s degrees or higher

»» Home to more than 50 accredited universities, colleges, and technical schools including Georgia Institute of Technology, Emory University, Georgia State University, and the Atlanta University Center which includes Clark, Spelman, and Morehouse Colleges

16 CORPORATE RELOCATION MAGNET As the economy continues to strengthen, businesses are focused on streamlining their operations in regions with lower operating costs and a well-educated, growing labor force. This talent pool coincides well with Atlanta’s prime location within a short-flying distance of a vast majority of U.S. population centers. Atlanta’s concentration of highly-educated professionals will continue to make the area a preferred destination for corporate relocations and expansions. Companies such as Mercedes-Benz USA, State Farm, and NCR are just the latest examples of companies that have chosen to relocate their headquarters to Atlanta, making a long-term investment in the City’s workforce and economy. Mercedes-Benz USA announced in January 2015 it would relocate its corporate headquarters to Atlanta from Montvale, New Jersey, creating about 1,000 jobs for the City. The firm took occupancy of nearly 90,000 square feet in 2015, and is investing an additional $100 million for a more than 250,000 square foot build-to-suit headquarters in Sandy Springs. Since the beginning of 2015, there has been a surge of top global brands announcing new technology and R&D centers in metro Atlanta. Headlining these moves is the announced of The Home Depot Technology Center at Tech Square, Twitter’s expansion to Ponce City Market, Google Fiber’s move to metro Atlanta, and Coca-Cola, Microsoft, and WorldPay are locating innovation offices near Georgia Tech’s Atlanta Technology Development Center (ATDC). These companies join others throughout metro Atlanta, including the AT&T Foundry, Panasonic Automotive’s innovation center, General Motors IT Innovation Office (one of just four such facilities), ThyssenKrupp’s innovation office, and Ernst & Young and Deloitte technology centers. This trend is proven by the numbers -- Since July 2013, corporations have announced nearly 12,000 jobs and invested over $600 million into technologies or office locations in Georgia. Ultimately this speaks to the strength and vitality of Georgia’s competitive business climate.

17 FORTUNES FOR THE FUTURE: DRIVERS FOR GROWTH

Atlanta’s position as a global business center for established companies has never been in Advanced Manufacturing and Supply Chain Management – Atlanta’s supply chain question. FDi Magazine, a foreign direct investment news outlet, ranked Atlanta #5 City of the and advanced manufacturing industry is the largest growth sector in recent years. Seventy Future in the U.S. based on economic potential, human resources, infrastructure, quality of life, percent of the top 20 supply chain management software providers have operations in FDI strategy and business climate. Atlanta including six corporate headquarters. State-wide, Georgia continues to increase its connectivity to the global marketplace. Given Atlanta’s dominance as a global logistics hub Atlanta continues to attract many companies because of the state’s attractive business climate with the busiest airport in the world and as home to both UPS and Delta, the Port of Savannah and highly valuable logistical assets. Georgia is the #5 ranked state for business according has become a critical element in the expansion of its distribution capabilities. Furthermore, to Site Selection Magazine and Chief Executive due to low corporate and personal income given that the Northwest is one of the closest submarkets to the distribution hub surrounding tax, highly-educated workforce, quality healthcare and low percentage of unionized labor. Hartsfield-Jackson Atlanta International Airport, the continued growth of this industrial sector Atlanta is building on these advantages through programs like its Opportunity Zones recently should continue to benefit the Northwest in years to come. Many tenants in the Northwest extended to Midtown and Downtown businesses offering tax credits for each new job added. chose their location due to proximity to the airport. Additionally, Atlanta mayor Kasim Reed continues to promote a high-speed rail line linking metro Atlanta to Savannah - this additional In addition to a strong base of internationally recognized firms, the city is already turning to linkage could serve to boost both the Atlanta and Savannah economies. the next generation of Fortune 500 companies to drive future employment growth. Atlanta is poised for a new wave of growth in a diverse range of innovative fields. Port of Savannah – Atlanta is 250 miles from the Port of Savannah, the nation’s fastest growing port in the nation. Georgia’s deep water ports and inland barge terminals expedite Technology – Atlanta is the #1 ranked city for healthcare IT companies. Nine of the twenty deliveries to 153 countries around the globe and sustain more than 295,000 jobs throughout largest health care IT companies in the world are headquartered here, generating $4 billion the state annually, contributing $15.5 billion in income, $61.7 billion in revenue and $2.6 in yearly revenues. Forbes Magazine ranked Atlanta the #2 most wired city in 2011. Already billion in state and local taxes to Georgia’s economy. In fiscal year 2011, the Port of Savannah home to media companies like CNN, TBS and , the city saw large growth was the second busiest U.S. container port for the export of American goods by tonnage, and in its mobile media sector as AT&T’s Mobility and Consumer Markets’ corporate headquarters also handles 8.75% of U.S. containerized cargo volume and 12.5% of all U.S. containerized joined Sony Ericsson and Cisco/Scientific in the Atlanta market. Atlanta is now the destination exports. The Port of Savannah contributes significantly to promoting American businesses for 75% of credit card transactions through industry titans NCR, Global Payments, First Data in the global marketplace. Plans to expand the Savannah Port are currently in motion, and and Elavon. Atlanta-based technology firm Airwatch was recently acquired by VMware for the U.S. Army Corps of Engineers (USACE) reached a milestone on April 11, 2012, when $1.54 billion, adding legitimacy to Atlanta’s growing technology market. they released the final Savannah Harbor Expansion Project documents for review by state and federal agencies and the general public. Jerry Bridges, Board Chairman of the American Bioscience – The city is ranked #5 in university research nationally. A key component of the Association of Port Authorities, stated that, “When the Panama Canal is completed in 2014, ranking is Emory University’s place at #4 in the U.S. for discovering new drugs and vaccines it is critical that the East Coast be prepared to serve larger vessels. The efforts by the U.S. among public-sector research institutions, with 27 products in the marketplace and 12 more Army Corps of Engineers and the Georgia Ports Authority to advance its deepening project in human clinical trials. Atlanta is also home to the Georgia Research Alliance, a non-profit in Savannah is good news for commerce and international trade.” According to the USACE, that is government funded and run by a board of high-level business leaders and university deepening the Savannah Harbor up to 48 feet will bring over $115 million in annual economic presidents. GRA has leveraged $525 million in state funds into $2.6 billion of federal and benefits to the United States, primarily by lowering transportation costs. private investment.

18 Hartsfield-Jackson Atlanta International Airport – Located 7 miles south of the city’s traffic finished in 2006, and the 9,900 parking space Hartsfield–Jackson Rental Car Center Central Business District, Hartsfield-Jackson Atlanta International Airport (“Hartsfield”) is which was completed in 2009. These and other improvements are part of a ten-year, $5.4 the world’s busiest airport, serving more than 96 million passengers annually. More than billion program to ensure Atlanta’s airport maintains its global leadership role as the nation’s 1,300 flights leave on an average day from Hartsfield. Approximately 770 nonstop flights top passenger and freight airport. The total annual economic impact of the airport to Atlanta serve 85 international destinations weekly. In April 2010, Hartsfield celebrated the “topping is currently more than $19 billion. With flying times of less than two hours to 80% of the U.S. out” of its latest international terminal addition, which opened in May 2012. The 12-gate, population, Hartsfield has played a key role in the growth of Atlanta as one of the country’s top $1.4 billion addition is projected to allow an increase in international traveler volume from 9 business centers. With more than 1,300 daily flights connecting Atlanta to every major global million per year to 13 million by 2015. Past improvements include a new atrium lobby and market and business center, Hartsfield deserves its nickname “Gateway to the World.” retail concourse completed in time for the 1996 Olympic Games, a fifth runway for commuter

17 CHICK-FIL-A GROUND LEASE

INVESTMENT CONTACTS

Chris Bosworth Executive Vice President T +1 404 923 1486 F +1 404 923 1208 [email protected]

Will Pike Executive Vice President T +1 404 923 1381 F +1 404 923 1208 [email protected]

Brian Pfohl Capital Markets Manager T +1 404 504 7893 F +1 404 923 1208 [email protected]

CBRE, Inc. 3280 Peachtree Road NE, Suite 1400 Atlanta, GA 30305 +1 404 504 7900