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OFFERING MEMORANDUM TRADE NET LEASE WITH CONFIDENCE

Rendering of Subject Site

THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA)

NEW YORK | CHICAGO | ATLANTA | TAMPA | DENVER | SAN FRANCISCO BENETLEASE.COM DISCLOSURE

All materials and information received or derived from B financial advisor to any party regarding any proposed Plus E LLC, its directors, officers, agents, advisors, affiliates, transaction. All data and assumptions regarding financial and/or any third-party sources are provided without performance, including that used for financial modeling representation or warranty as to completeness, veracity, purposes, may differ from actual data or performance. Any or accuracy; condition of the property; compliance or lack estimates of market rents and/or projected rents that may of compliance with applicable governmental requirements; be provided to a party do not necessarily mean that rents developability or suitability; financial performance of the can be established at or increased to that level. Parties must property; or projected financial performance of the property evaluate any applicable contractual and governmental for any party’s intended use or any and all other matters. limitations as well as market conditions, vacancy factors, and other issues in order to determine rents from or for the Neither B Plus E LLC, its directors, officers, agents, advisors, property. nor affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any Legal questions should be discussed by the party with an materials or information provided, derived, or received. attorney. Tax questions should be discussed by the party Materials and information from any source, whether with a certified public accountant or tax attorney. Title written or verbal, that may be furnished for review are questions should be discussed by the party with a title not a substitute for a party’s active conduct of its own officer or attorney. Questions regarding the condition of due diligence to determine these and other matters of the property and whether the property complies with significance to such party. B Plus E LLC will not investigate applicable governmental requirements should be discussed or verify any such matters or conduct due diligence for a by the party with appropriate engineers, architects, party unless otherwise agreed in writing. contractors, other consultants, and governmental agencies. All properties and services are marketed by B Plus E LLC EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT in compliance with all applicable fair housing and equal INVESTIGATION AND DUE DILIGENCE. opportunity laws.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third-party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. B Plus E LLC makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. B Plus E LLC does not serve as a ABOUT US

OUR STORY

B+E is a modern investment brokerage firm, specializing in net lease real estate and 1031 exchanges. We help clients buy and sell single tenant real estate. Founded by deeply experienced brokers, B+E redefines trading through an intuitive end-to-end transaction platform comprising of user-friendly dashboards and an AI-driven exchange — all leveraging the largest data set in the net lease industry.

Complementing senior talent with exceptional technology, B+E’s proprietary process affords greater speed, unrivaled transaction efficiencies, and stronger asset value. With offices in New York, Chicago, Tampa, Atlanta, Denver, and San Francisco, our brokers trade property for our clients across the US. B+E allows virtually anyone to confidently trade net lease real estate.

3 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM TABLE OF CONTENTS

EXECUTIVE SUMMARY...... 05

INVESTMENT HIGHLIGHTS...... 06

LEASE ANALYSIS ...... 07

SITE PLAN ...... 08

TENANT OVERVIEW...... 09

LOCATION OVERVIEW...... 11

SURROUNDING TENANT MAP...... 14

Construction Site SURROUNDING DEVELOPMENT MAP.... 15

JIM CERESNAK SAM WILSON SURROUNDING AREA MAP ...... 16 Associate Director Associate Director 917.790.1584 404.301.3312 DEMOGRAPHICS ...... 17 [email protected] [email protected]

HOW B+E WORKS CAMILLE RENSHAW JON NESBITT CEO & Co-Founder TN License #: 329164 646.701.4536 INNOVATIVE BUYER TOOLS ...... 19 [email protected]

4 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM EXECUTIVE SUMMARY

OFFERING PRICE $5,375,000 CAP RATE 6.60%

EXECUTIVE SUMMARY

TENANT NAME The Learning Experience

ADDRESS 1201 Shadow Green Dr., Franklin, TN

CREDIT RATING Not Rated

Rendering of Subject Site OFFERING PRICE $5,375,000

OFFERING CAP 6.60%

NOI $355,000

LEASE TYPE NNN*

RENT INCREASES 12% Every 5 Years

REMAINING LEASE TERM +/- 15 Years

BUILDING SIZE +/- 10,000 SF

LAND AC +/- 2.20 AC

PARKING +/- 35 Spaces

PROPERTY TYPE Retail

YEAR BUILT | RENOVATED 2020

CLICK HERE FOR AERIAL DRONE FOOTAGE * LL is responsible for Roof & Structure

5 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM INVESTMENT HIGHLIGHTS

HIGHLIGHTS NEW 2020 CONSTRUCTION | LONG-TERM LEASE This asset is expected to be completed by 12/15/2020 and features The Learning Experience’s most modern facade. Upon delivery, this investment will feature a new 15-year NN lease with 12% rental escalations every 5 years, providing investors with long-term income and a built-in inflation hedge. CORPORATE GUARANTEE BY INDUSTRY-LEADING TENANT | 300+ LOCATIONS This investment is secured by The Learning Experience, one of the nation’s largest and fastest-growing childcare franchises, boasting more than 35 years’ experience in the childcare industry with over 300 locations operating or under development. The lease features a stronger corporate guarantee than is present in most TLE leases. The landlord is entitled to $750,000 in rent coverage for the first 5 years of the lease. In each subsequent year, the coverage amount drops by $100,000. Ultimately, the landlord receives 12.5 total years of corporate backing. NASHVILLE MSA | HEALTHCARE INDUSTRY CAPITAL | CORPORATE HUB This asset is located within the Nashville MSA, one of the largest MSAs in the U.S. with a population of over 1.9 million. Outside of the massive tourism industry bringing in over 16 million visitors annually, Nashville is considered one of the most desirable headquarters and corporate office locations in America. Companies such as Amazon, SmileDirectClub, and Nissan are growing and newly establishing a presence in the area. Additionally, Nashville is the Healthcare Industry Capital of the U.S. with more than 500 health care companies in operation within the MSA and a global impact of over $92 billion in revenue. Construction Site #1 RANKED MSA FOR ECONOMIC STRENGTH According to POLICOM Corporation, Nashville MSA ranked #1 overall in economic strength. The Nashville MSA area has enjoyed consistent economic growth for a very long time due to its diversified economy and desirability. HIGH GROWTH MARKET | EXCELLENT DEMOGRAPHICS The Franklin market consists of a highly affluent and rapidly growing demographic. Franklin is the 15th fastest growing city in the nation and Williamson county is the 12th richest area in the U.S. Within a 5-mile radius of the asset there is a population of 81,449 with an expected growth rate of 2.70% and median income of +/- $104,244. SITUATED OFF U.S. 31 | 22,000 VPD The subject location is located off U.S. 31, a major highway system with +/- 22,000 VPD. DENSE RETAIL TRADE AREA This asset is positioned within a dense retail trade area with national retailers including Target, Tractor Supply Co., Kroger, Chick-fil-A, Advance Auto Parts, and Starbucks. WALKING DISTANCE TO TWO APARTMENT COMPLEXES This subject property is located within walking distance to two large apartment complexes. Those complexes include Greenhaven Apartments (222 units) and Grove at Shadow Green Apartments (196 units). PROXIMITY TO DOWNTOWN FRANKLIN This The Learning Experience site is located just 2 miles from Downtown Franklin. This downtown offers elegant shopping, , antique shops, a variety of clothing stores, art galleries, professional services, and much more, providing this property with an extensive customer base. INCOME TAX-FREE STATE Investors will benefit from the personal income tax-free environment that offers. Additionally, the City Construction Site of Franklin maintains a very low property tax of .4176 cents per $100 of assessed value compared to the $4.221 per $100 of assessed value recently approved in Nashville’s urban areas.

6 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM LEASE ANALYSIS

THE LEARNING EXPERIENCE

NOI $355,000

LEASE COMMENCEMENT 12/15/2020

ORIGINAL LEASE TERM 15 Years

REMAINING LEASE TERM 15 Years

RENT INCREASES 12% Every 5 Years

RENEWAL OPTIONS 2; 5-Year

Rendering of Subject Site LEASE TYPE NNN

LANDLORD RESPONSIBILITIES Roof and Structure

CORPORATE GUARANTEE

The lease features a stronger corporate guarantee than is present in most TLE leases. The landlord is entitled to $750,000 in rent coverage for the first 5 years of the lease. In each subsequent year, the coverage amount drops by $100,000. Ultimately, the landlord receives 12.5 total years of corporate backing.

Rendering of Subject Site

7 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM SITE PLAN SITE PLAN NOTES 12 8.3 P 1' A 1. A QUALIFIED SURVEYOR SHALL LOCATE STRUCTURES ONLY. C / SURVEYOR SHALL FURNISH PAD CERTIFICATION REPORT TO W

" ) I

L O DESIGNER PRIOR TO PLACING OF FOUNDATION. 4 S ( SITE PLAN NOTES D R

L 12 I IR(N) " 8.3 P R 1' A 1. A QUALIFIED SURVEYOR SHALL LOCATE STRUCTURES ONLY. C 2. PROPERTY LINE DIMENSIONS ARE PREPARED WITH INFORMATION O / SURVEYOR SHALL FURNISH PAD CERTIFICATION REPORT TO W

" ) T I S FURNISHED BY THE OWNER AND SHALL NOT BE CONSTRUED TO BE L O DESIGNER PRIOR TO PLACING OF FOUNDATION. 4 S 5 ( 7 D R ° L C I 5 A SURVEY OF THE PROPERTY. FINAL STRUCTURE PLACEMENTS IN IR(N " R ) 3 1 A '2 2. PROPERTY LINE DIMENSIONS ARE PREPARED WITH INFORMATSITEION PLAN NOTES O 2" RELATION TO THE PROPERTY LINES SHALL BE DESIGNED ON THE P T S E FURNISHED BY THE OWNER AND SHALL NOT BE CONSTRUED TO BE 12 57 S 8. C P °5 " G SITECIVIL PLAN DRAWINGS NOTES AND SHALL CONFORM TO ALL LOCAL ZONING 3 M 3 1 2'-0 W A SURVEY OF THE PROPERTY. FINAL STRUCTURE PLACEMENTS IN A M 1' A AIL '22 1 IL D 8 1. A QUALIFIED SURVEYOR SHALL LOCATE STRUCTURES ONLY. O C K12IO "E CIV 3. RELATION TO THE PROPERTY LINES SHALL BE DESIGNED ON THE AND BUILDING CODES, AMENDMENTS AND/OR APPROVED P / S 8.K P / 7 3 " GS W 3 CIVIL DRAWINGS AND SHALL CONFORM TO ALL LOCAL ZONING M 1' '-0 W A Y ' MAIL W 12 D F 8 SURVEYOR1. A QUALIFIEDSHALL FURNISH SURVEYOR PAD SHALLCERTIFICATION LOCATE STRUCTURES REPORT TOONLY. C L V C VARIANCES. BUILDER SHALL LOCATE ALL STRUCTURES AND VI 3 " I K / AND BUILDING CODES, AMENDMENTS AND/OR APPROVED O IOSK ) / C .7 I Y W 3' SURVEYOR SHALL FURNISH PAD CERTIFICATION REPORT TO L O F W DESIGNER PRIOR TO PLACING OF FOUNDATION. CO C S V VARIANCES. BUILDER SHALL LOCATE ALL STRUCTURES AND CERTIFY COMPLIANCE WITH SETBACKS PRIOR TO ANY WORK. 4 DUMPSTER ENCLOSURE, ( " ) D I CO R V CERTIFY COMPLIANCE WITH SETBACKS PRIOR TO ANY WORK. DUMPSTERO ENCLOSURE, L L DESIGNER PRIOR TO PLACING OF FOUNDATION. S CO I 4 F ( SEE CIVIL FOR DETAILS IR(N) " V CO Y D R F SEE CIVIL R FOR DETAILS L I CO Y W IR " 3. REFERENCE CIVIL/LANDSCAPE PLANS FOR GRADING, ON SITE CO (N) 2. PROPERTY LINE DIMENSIONS ARE PREPARED WITH INFORMATION W 3. REFERENCE CIVIL/LANDSCAPE PLANS FOR GRADING, ON SITE 143 Fifth Avenue South R 1 143 Fifth Avenue South O 1 / /

CO CO C 2 C 2 3 3 2. PROPERTY LINE DIMENSIONS ARE PREPARED WITH INFORMATION ' CONSTRUCTION, OFF SITE CONSTRUCTION THAT MAY REQUIRE A CONSTRUCTION, OFF SITE CONSTRUCTION THAT MAY REQUIRE A I - ' IR(N Franklin, TN 37064 T O V 0 S I - ) IR( FURNISHED BY THE OWNER AND SHALL NOT BE CONSTRUED TO BE Franklin, TN 37064 V 0 N) I " 5 L 7 I " S SEPARATE BUILDING PERMIT. T FURNISHED615.988.9065 BY THE OWNER AND SHALL NOT BE CONSTRUED TO BE D ° L 5 SEPARATE BUILDING PERMIT. 615.988.9065 C W 5 7 1D ° A SURVEY OF906studio.com THE PROPERTY. FINAL STRUCTURE PLACEMENTS IN C 3 G W' 5 A SURVEY OF THE PROPERTY. FINAL STRUCTURE PLACEMENTS IN A S 22 DUMPSTER,3 BY 1' 4. ALL SIGNAGE AND MONUMENT SIGNS NOT SHALL REQUIRE A 906studio.com A G " 22 RELATION TO THE PROPERTY LINES SHALL BE DESIGNED ON THE P S E VENDOR " SEPARATE PERMIT. 4. ALLRELATION SIGNAGE TO THEAND PROPERTY MONUMENT LINES SIGNS SHALL NOT BE SHALLDESIGNED REQUIRE ON THEA P S DUMPSTER,E BY 0" G 10 S CIVIL DRAWINGS AND SHALL CONFORM TO ALL LOCAL ZONING M 2'- W -0" G SEPARATECIVIL DRAWINGS PERMIT. AND SHALL CONFORM TO ALL LOCAL ZONING MAIL M MA1IL L D 8 2' VENDORDW S4 5. SIDEWALKS, DRIVEWAYS, AND OTHER FLAT WORK SHALL BE IVI 3 1 IL 83 4 O KIOSK O KIO C . CIV . 10°2 AND BUILDINGAND BUILDING CODES, CODES, AMENDMENTS AMENDMENTS AND/OR AND/OR APPROVED APPROVED /S ' 7 CONSTRUCTED IN ACCORDANCE WITH THE SOILS REPORT. W K 3 W/ 73 7 4 ' Y . 'Y C F F ' 19 S VARIANCES. BUILDER SHALL LOCATE ALL STRUCTURES AND C V 8 V " 4 VARIANCES.5. SIDEWALKS, BUILDER DRIVEWAYS, SHALL LOCATE AND OTHER ALL STRUCTURES FLAT WORK SHALLAND BE 9 E 4 CO 1 °2 CERTIFY COMPLIANCE WITH SETBACKS PRIOR TO ANY WORK. CO DUMPSTER' ENCLOSURE, DUMPSTER ENCLOSURE,ICV 7 CERTIFY COMPLIANCECONSTRUCTED WITHIN ACCORDANCE SETBACKS PRIOR WITH THE TO SOILS ANY REPORT.WORK. V 4 ' SITE DATA: CO V . 1 CO F SEE CIVIL FOR DETAILS 9 F SEEY CIVIL8 FOR DETAILS Y " CO 9 W E 3. REFERENCE CIVIL/LANDSCAPE PLANS FOR GRADING, ON SITE CO PARKING OFF-STREET 30 143 Fifth Avenue South W 1 3. REFERENCE CIVIL/LANDSCAPE PLANS FOR GRADING, ON SITE / 1 1 ICV 143 Fifth Avenue South CO 2 / 1 C 3 0 PARKING ON-STREET 6 ' 8 CONSTRUCTION, OFF SITE CONSTRUCTION THAT MAY REQUIRE A CO C 2 I - IR( Franklin, TN 37064 3 V 0 N) .7 ' TOTAL PARKING PROVIDED: 36 CONSTRUCTION,SITE DATA: OFF SITE CONSTRUCTION THAT MAY REQUIRE A I - 10I " IR(N) 8 Franklin, TN 37064 V 0 L ' SEPARATE BUILDING PERMIT. " DRAI 615.988.9065 I D NAGE E L ASEMENT SEPARATE BUILDING PERMIT. W P.B. P62, 615.988.9065 ) PG D 47 (ITEM # PRESCHOOL / PRE-K PLAYGROUND: 2,249 S.F. 906studio.com 3 1 ' G 3) W BK. 732 1 1, PG PARKING OFF-STREET 30 8 . 23 S 1 (ITEM # INFANT / TODDLER PLAYGROUND: 1,566 S.F. # 21) 906studio.com G 0 1 4. ALL SIGNAGE AND MONUMENT SIGNS NOT SHALL REQUIRE A . DUMPSTER, BY M IR(N) 0 TOTAL PLAYGROUND AREA: 3,815 S.F. T 2 PARKING ON-STREET 6 E S 8 T 4. ALL SIGNAGE AND MONUMENT SIGNS NOT SHALL REQUIRE A N 55' 1 SEPARATE PERMIT. I DUMPSTER, BY E VENDOR . ( 4 7

M TOTAL PARKING PROVIDED: 36 7 8 E 10 4 10 ' PER STATE OF TENNESSEE DEPARTMENT OF HUMAN SERVICES SEPARATE PERMIT.

S VENDOR . D G R 2 A AINAG G E 0 S G E E A LICENSURE RULES FOR CHILD CARE CENTERS, OUTDOOR N E SEM P ' P EN I T 4 N D 5. SIDEWALKS, DRIVEWAYS, AND OTHER FLAT WORK SHALL BE " 10 .B S , I P CO K .B. P6 R 4 5 2, . ' PLAY AREA MUST ALLOW 50 S.F./CHILD USING THE ) A 2 P S G R K 47 (ITE P I 0 ° PRESCHOOL / PRE-K PLAYGROUND: 2,249 S.F. E 6 5 M 6 N R # S 2 3 A 1 ' 3 2 ' ) ' B 2 A CONSTRUCTED IN ACCORDANCE WITH THE SOILS REPORT. C . K P . A 732 4 , PLAYGROUND AT ANY GIVEN TIME. 1 1 G 5. SIDEWALKS, DRIVEWAYS, AND OTHER FLAT WORK SHALL BE , 7 7 PG C B 8 . P P 2 4 31 E . T ( ITE 4 G ' INFANT / TODDLER PLAYGROUND: 1,566 S.F. 1 M A . # # 2 E P 1 1 E . T ) ° 0 ° 4 A . E E 9 8 7 S M 6 2 IR(N) ' CONSTRUCTED IN ACCORDANCE WITH THE SOILS REPORT. R E ( E " TOTAL PLAYGROUND AREA: 3,815 S.F. 2 M T E 0 7 3,815 S.F. / 50 S.F.PER CHILD = 76 CHILDREN ON THE 9 I T R T E S 4 E 4 S T E T ' N N . 5 N 1 5' 1 1 M 5 I S T ° PLAYGROUND AT A TIME. E ( # 4 9 ICV 5 8 1 1 M " 3 ' 7 9 ADDITIONAL ) 4 E 3 E 8 4 SITEPER STATEDATA: OF TENNESSEE DEPARTMENT OF HUMAN SERVICES " 1 S ON-STREET . E G 2 A ICV G R 0 E G LICENSURE RULES FOR CHILD CARE CENTERS, OUTDOOR 3 PARKINGN E IP P ' P I R N D " A .B S , I P CO K . R SITE DATA:PARKING OFF-STREET 30 5 A ' PLAY AREA MUST ALLOW 50 S.F./CHILD USING THE S 2 R K P 2 I 0 E 6 5 16 N R 2 A 1 ' 02 A C . 9 P PARKING ON-STREET 6 A , . G PLAYGROUND AT ANY GIVEN TIME. 7 8 7 C B P P 4 E . T . G 1 A 7 ' E P E . PARKING OFF-STREET 30 T TOTAL PARKING PROVIDED: 36 ° 10 8 4 A E E ' 7 S 6 1 R E DRAINAG 0 ( E 0 E EA I M PARKING3,815 S.F. ON / -50STREET S.F.PER CHILD = 76 CHILDREN ON 6 THE T R S EMENT 8 T E S4 S T P.B. E N N P62, . M 5 ) PG S 47 (ITEM # 7 T ° TOTAL PARKINGPLAYGROUNDPRESCHOOL PROVIDED: AT A / TIME.PRE-K PLAYGROUND: 36 2,249 S.F. 3 1 10 ' BK. 732 3) 8 # 5 1 1, PG ' 1 1 D 8 . 231 (ITEM # 3 ' INFANT / TODDLER PLAYGROUND: 1,566 S.F. # ADDITIONAL RAIN 21) ) 4 7 A0 GE EA 3 . SEM 8 M ENT IR(N) " TOTAL PLAYGROUND AREA: 3,815 S.F. T P 2 8"W E ON-STREET .B. P62, E ) PG T 47 PRESCHOOL / PRE-K PLAYGROUND: 2,249 S.F. N 55' 1 (ITEM I # 3 1 ' 3) E R ( B K. 7324 I THE LEARNING 1 3 PARKING 1, PG P 8 . M 68 231 ( R 7 6 ITEM # INFANT / TODDLER PLAYGROUND: 1,566 S.F. # E 21) A 4 0 P PER STATE OF TENNESSEE DEPARTMENT OF HUMAN SERVICES

S . M IR(N . ) G 2 EXPERIENCE A TOTAL PLAYGROUND AREA: 3,815 S.F. 2 T E G 0 G 2 E LICENSURE RULES FOR CHILD CARE CENTERS, OUTDOOR N E ' T P P N 5 1 I 1 5 N D ' " . I B S , 9 I CO E K R ( 4 . 5 ' . PLAYACADEMY AREA MUST ALLOW OF 50 S.F./CHILD USING THE A S 2 R K P 0 7 M I E 6 5 6 7 N 4 R 2 A E-EDUCATION (DAY CARE) E ' 2 A C . ' 4 P A , G PER STATEPLAYGROUND OF TENNESSEE AT DEPARTMENT ANY GIVEN TIME. OF HUMAN SERVICES

S 7 C B P P 1-STORY, 10,008 S.F. . E EARLY . T UP G G 2 A 1 A E P E SITE BM #1 . G T 0 ° G E LICENSURE RULES FOR CHILD CARE CENTERS, OUTDOOR N C E ' 4 A E E P P I 7 S 6 N D " . 6 R E B E S , I CO K R ( EDUCATION 0 I M 3,815 S.F. / 50 S.F.PER CHILD = 76 CHILDREN ON THE T . 5 R A ' S PLAY AREA MUST ALLOW 50 S.F./CHILD USING THE 2 T S R K P 0 E 4 S T I E N E 6 5 N 4' h. WHITE PVC FENCE6 NW/ R 2 M A 5 S T ' 2 A ° PLAYGROUND AT A TIME. C . P A , G # 5 PLAYGROUND AT ANY GIVEN TIME. OUTSWING GATES SHOWN. 7 The Learning B 1 ) C P P E 1 . T 3 3 G 1 ' A ADDITIONAL E ) 1 4 P . E T ° 3 4 A # 8 Experience - Franklin

E E 7 7 S " 6 ON-STREET M E E R E ( E 0 L I M 3,815 S.F. / 50 S.F.PER CHILD = 76 CHILDREN ON THE T 2 T R E S 0 ' . 8 P O "W B A PERMANENT MONUMENT SIGNT E R I W ( T S 4 A T I S E " 3 PARKING K N P H N E CO . M C ( M " 5 7 8 R E S I 6 A T / S 2 T 0 E PLAYGROUND AT A TIME. A 4 ' 4 3 C E ° P CO 6 C # E L P W M . 5 A 2 6 CLUBHOUSE E P THE LEARNING , S ) 1 Y # C G I L 1 WARHORSE VENTURE P S ) 6 2 3 P T 8 G S 1 O R 6 3 2 A ' I . 2 ( ADDITIONAL ) ) , 1 T 4 D R 2 3 L " 6' h. WHITE PVC FENCE W/(2) R E 2 6 1 3 1 ED I N 8 A G 8 # I E 6 T PARTNERS ' O . 9 F A 0 W "P . U G OUTSWING GATES SHOWN.A L M . 2 T 7 ON-STREET E . E T R P EXPERIENCE ' E ) C B 4 0 4 M T , . I M 2 5 1 ' R P S ( E 3 1201 ISLEWORTH DRIVE PARKING I E # 3 T NOTE: PLAYGROUND P 4 8 R ) R 8 4 M M 3 A FRANKLIN, TN E 3 ' . E EQUIPMENT MAY NOT BE 1 P ACADEMY OF . 0 K T W # I 2 B G B U E FFER INSTALLED IN HATCHED AREA ( Z P O S N M E E-EDUCATION (DAY CARE) SIG N , 2 E

N 2 INDICATING SEWER ACCESS T 1 25' I A 1 1 1-STORY, 10,008 S.F. ( 9 ) PICNIC TABLE BY OTHERS S 9

3 EARLY UP EASEMENT L ' 7 . . 7 . 5 SITE BM #1 SEW 4 K H ' INFANT/TODDLER E A R 2 4 Y & . B I BU ACC 9 FFE ES G C R Z 60 P.B. S E E ' O A O ' 7 P . N A S P E S VE 62, EM R PLAYGROUND IG RA PG EN . CO N G 4 T W N E 7 D , 6 ON ST (IT E 7 D RE EM . 40 9 ISTU AM B #13) 2 ' EDUCATION U H R F U T B F 6 4 5 A E N 140 CE R & . AR P . E P 1 2 A R 8 P ) "W .B PRESCHOOL . . P ' S L 6 ) 2 , S P . G B A 4 4' h. WHITE PVC FENCE0 W/ 7 . E T (IT 1566 SF E 4 M I PLAYGROUND P #1 U PRELIMINARY E 3 ) R

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PLAYGROUND I R P E 6 AROUND EQUIPMENT G N G G . W E A CO T N W T T G E C R 4 P N E 7 ' D , ) E N 8 ( R " O S I E T C T P W/(2) OUTSWING N S . R E 9 E E M ) 4 A B D 0 A S 2 ' # 0 I 4 M , S T T 1 M O 3 B . U M ) I , U 3 H E R U T O F 2 B 6 I 4 F M 5 INDICATES REQUIRED A E N 2 5 1 E R . E C S P 140 E & 6 2 ( 19.1063 R A M P . R GATES SHOWN. R E S E P 1 2 U R A 3 1201 ISLEWORTH DRIVE 6 E ) P # T T .B E 6 PRESCHOOL . # . T NOTE: PLAYGROUND P ' S L 6 4 8 ) S CLEAR SPACE. TYP. 2 3 L , S S ) . P R ' N C G B A 2 0 5 4 R A ' 8 6 4 S 7 . M T M E I R T ( E I P M A 3 T M 4 1566 SF E 4 B M O I FRANKLIN, TN PLAYGROUND U P E 3 F . ' F# U A E . E T PRELIMINARY 1 E A L R E EQUIPMENT MAY NOT BE 3& 1 ALL EQUIP. ) R N ARCHITECTURAL SITE O E 7 N Y K 0 8 R D . I T T S K C . T S U W E R K 2019, 906 STUDIO ARCHITECTS, LLC. B B S I AN # I C ' B 2 W E E S / O A B A ( G B W R E U A 4 P E ( 1 ARCHITECTURALF SITE PLAN .B A A F 181 . E R P 0 R INSTALLED IN HATCHED AREA 62 B " U PLAN J Z , U P PG F DRAWINGS AND DESIGN CONCEPTS O S V E F S . 0 N M E 4 L 2 R 1 E 2 7 8 ( Z B S . I 3 T 1 E 1" = 20'-0" TIG 1' E O M L N N , E P # 3 E 0' 10' 20'1 40' E S W 3 1 4 ) IGN A NOT FOR SHALL NOT BE USED OR REPRODUCED N S 2 5 INDICATING SEWER ACCESS T ' 0 2249 SF 25 ' W ' S U I A 1 1 ' M L I IN WHOLE OR PART IN ANY FORM H 5 N86 ( 4 ) CONSTRUCTION °3 O 3 9 PICNIC TABLE BY OTHERS '5 S 5"W N ( 3 N 95.91' 5 3 EASEMENT L C A 4 ' R 5 ' 7 . G WITHOUT PRIOR WRITTEN CONSENT ° ( 8 . E M 5 6 S 5 4 K H ' C ° E G W 6 1 A C INFANT/TODDLERN E R 2 2 OF 906 STUDIO ARCHITECTS, LLC. V & . P Y ' B I 6 I 6 B A 9 N C 9 U 0 E C E F G O ' FE ES 6 L I P E W 3 R A 8 S A . ZO 60 .B. EA ' O 7 S A P . 3 N S P " 1 A 6 R L E E V 2 T K E 6 0 E , M S 8 . PLAYGROUND " IG RA PG EN B CO N T W R 8 ( 4 G 4 R 0' D , RAI W E 7 D N R R A G N ( 1 E E S E ASEMEN ON T T IT TEMPORARY SIGNAGE T R O E . 9 DASHED LINE D E P M 40 U U W A # 2 ' A I 3 A ) M O A 6 B " STU B F 13 A010 ) 6' h. WHITE PVC FENCE P U B H I .B R U T . P F A 2 6 P 2, B 6 4 P 8/29/2019 2:48:28 PM 2:48:28 8/29/2019 P P F 5 G . 47 (IT A E N . E N K 2 M R . #13 C O ' ) 140 E & S TO BE LOCATED ON ( 8 A P . 8 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLEAROUND EQUIPMENT MSA) R 6 B BENETLEASE.COM ) G 1 W E P 2 T 1 R A E N ° P ) .B R W/(2) OUTSWING7 PRESCHOOL . . P E N ' S P )

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S Y CLEAR SPACE. TYP. 3 8 L R S ' N C 2 R E 5' A SSTA 6 I RW ' EA P M W M NO. DESCRIPTION DATE M S / A I O 4 L B O L A U FFC . 1 R T A E 181 E E A L 0 R R E ALL EQUIP. N & K B " O U E J 7 N F D F K V I E T S C 2 R S . TU R Z K 2019, 906 STUDIO ARCHITECTS, LLC. B E T N BAN ON S I 1 8 C E B 1 E E 3 ' E ° A S ( W W 5 R I A 4 1 P E G NOT FOR '3 .B. P A A N S 0 5 6 5 2 U "W , PG DRAWINGS AND DESIGN CONCEPTS S . E 0 ' W 2249 SF 47 L DD PRICING SET 08-02-19 2 1 S ( U 8 2 .31' 14 ITE B

.8 M L P # 7 13 M ' I L 1 ) H 4 4 SHALL NOTCONSTRUCTION BE USED OR REPRODUCED O W ( ' CONST. DOCS. 08-26-19 0 N N 95.91' 8 3 " 4° C A 5 R ' 9'17 G IN WHOLE OR PART IN ANY FORM 5 N " ° 86° W L1 33 5 E '5 4 M 4 5" .6 2 W N 5' L 6 C 5 G 4 6 C N 5 ' 5 WITHOUT PRIOR WRITTEN CONSENT ( 8 P V I ' N 5 0 E E O ° L I 1 A A 6 7 8 ' 2 0 OF 906 STUDIO ARCHITECTS, LLC. 6 S A 6 L 9 T E K ' 8 1 6 B W 3 . 8 R ( 40' DRA R ° I 3 N R R " A 1 GE E 1 ASE 6 MENT 0 DASHED LINE " U U A 8 3 6 A ) 6 W A B 2 TEMPORARY SIGNAGE T 6' h. WHITE PVC FENCE P.B 5' O I . P 6 P 2, P S P P P G W . 4 T . 0 7 (ITEM R O " #13 E F O ) A ( 2 M BA S AROUNDN EQUIPMENTB N 6 B 2 U K G W O F T ' N F E N S E TO BE LOCATED ON 8 DI R R W/(2) OUTSWING) 1 ST & P E U ) ° S P RB O 7 B A N K N I , 3 M E C 2 O 6 INDICATES . REQUIRED5 E ( S 2 A E , R E BILLBOARD SIGNAGE PG E 6 A 2 R R GATES SHOWN. . SA M S 6 R W 3 M 680 U I 6 L T I L T 6 CR E 3 EEK # L S CLEAR SPACE. TYP. 3 L ' S N C 2 R 5' A ST 6 I R S EA AW P M M 4 M NO. DESCRIPTION DATE B O U ILL FF . C T A E R E A L ALL EQUIP. N R & EEK O E 7 N D K I T S C . TU S R K 2019, 906 STUDIO ARCHITECTS, LLC. B N BA S I 81 NC B ' ° E E 5 A ( W D 1 R 4 P ' E .B. 30 A A 5 P62 "W U , PG DRAWINGSDD PRICING AND SET DESIGN CONCEPTS08-02-19 S . 1 E 0 28 2 47 (14 L .31' ITE.87 B M ' L P #13 1 ) W 4 S N SHALLCONST. NOT DOCS.BE USED OR REPRODUCED08-26-19 ' 8 " 0 4°59'17" ' W 54 L1 4 . 2 IN WHOLE OR PART IN ANY FORM 5 N86°33'55"W N 65' L 5 5 ' 4 5 ' WITHOUT PRIOR WRITTEN CONSENT ( 8 6 7 80 2 °1 5 1 ' 6 2 OF 906 STUDIO ARCHITECTS, LLC. 6 ° 69 ' Project Number W 3 C . 8 6 3 8 " 1 " 25 6 0 " SA ' ST 0 R 8 W EA W NON M BUFF TOP TEMPORARY SIGNAGE S " DI ER OF 22 P STURB & BANK 19.1063 8' BK. 52 ANCE A TO BE LOCATED ON ) , R 7°1 PG. 63 EA N 6 ( S SA BILLBOARD SIGNAGE R W MIL 680 I L3 L CREEK ARCHITECTURAL SITE SAW 1 ARCHITECTURAL SITE PLAN D MILL CREEK NO. DESCRIPTIONPLAN DATE 1" = 20'-0" N81 0' 10' 20' 40' ' °51'30 S 5 "W 1 DD PRICING SET 08-02-19 2 14.87' W N8 CONST. DOCS. 08-26-19 " 4°59'17 2 "W 54 L1 4 .65 L2 ' Project Number 5 ' C 8"S 6 7 A 80

1 ° 19.1063 6 25' ST 0 A010 REA

8/29/2019 2:48:28 PM 2:48:28 8/29/2019 NON M BUFF S E DISTUR R & PBK. 5 BANCE ARCHITECTURAL SITE 2, PG. AREA 1 ARCHITECTURAL SITE PLAN 63 PLAN 1" = 20'-0" 0' 10' 20' 40' D S

2 A010Project Number 8/29/2019 2:48:28 PM 2:48:28 8/29/2019 C 8"SA 19.1063 ARCHITECTURAL SITE 1 ARCHITECTURAL SITE PLAN PLAN 1" = 20'-0" 0' 10' 20' 40' A010 8/29/2019 2:48:28 PM 2:48:28 8/29/2019 TENANT OVERVIEW

THE LEARNING EXPERIENCE (TLE) Since 1980, TLE has positively impacted the lives of children by developing and implementing ground-breaking care and early childhood education programs throughout the country. From the start, their approach was built on three key educational and care principles: cognitive, physical, and social—or as the founders say, “learn, play, and grow!” TLE’s strategy is simple: one block at a time in concentrated markets. This proven model ensures that TLE will continue to grow while maintaining low corporate G&A and enabling the company to build top-line management directly at the center level. TLE is a proponent of what they call center clustering. This growth model will permit the building of brand recognition by concentrating marketing dollars directly within each core market—all while allowing centers to leverage support staff and marketing costs. This helps increase margins without the loss of quality. TLE pursues growth in existing and new markets by establishing both franchise and corporate-owned sites in each major metro market. TLE is currently on a trajectory to open 75-100 centers per year. TLE has an estimated annual revenue of $21.9M and 796 employees.

HEADQUARTERS Deerfield Beach, FL

FOUNDED 1980

OWNERSHIP Private

WEBSITE www.thelearningexperience.com

LOCATIONS +/- 308

EMPLOYEE COUNT +/- 796

9 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM TENANT OVERVIEW | TLE NATIONAL LOCATIONS MAP

SUBJECT SITE

LEGEND

Completed Site +/- 255 Locations

Coming Soon +/- 53 Locations

10 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM LOCATION OVERVIEW | NASHVILLE, TN

NASHVILLE, TN is the most populous city in the state of Tennessee and the 36th largest metropolitan area in the country with a population just under two million. Nashville is a center for music, healthcare, publishing, banking, and transportation. It is also home to well-known universities such as Tennessee State, Vanderbilt, and Belmont. Nicknamed Music City USA, Nashville draws tourists from all over to visit the Hall of Fame and to experience the vibrant live music scene downtown. Also referred to as the “home of country music”, the city has become a major recording and production center for both established and up-and-coming artists, currently ranking as the second-largest music production center in the country. As of 2017, Nashville has the third-fastest growing TOP 10 ECONOMIC STRENGTH RANKINGS - MSA population in the country due to the high quality of life and job growth in the area. Outside of music and entertainment, there are 2020 2019 several Fortune 500 companies with offices in Nashville including: Nashville-Davidson-Murfreesboro- 1 1 Bridgestone, Amazon, Ernst & Young, , Franklin, TN (MSA) Dell, , AllianceBernstein, Nissan North America, Seattle-Tacoma-Bellevue, WA (MSA) 2 2

Philips, , and UBS. Austin-Round Rock, TX (MSA) 3 3

NASHVILLE (MSA) IS COMPRISED OF 14 COUNTIES: Cannon, San Jose-Sunnyvale-Santa Calra, CA (MSA) 4 4 Cheatham, Davidson, Dickson, Hickman, Macon, Maury, Salt Lake City, UT (MSA) 5 6 Robertson, Rutherford, Smith, Sumner, Trousdale, Williamson, and Wilson. Portland-Vancouver-Hillsboro, OR-WA (MSA) 6 11

Nashville/Davidson County has a metropolitan government Napa, CA (MSA) 7 5 based on a 1963 plan that has become a national model. The county is largely urbanized with extensive residential areas, and San Diego-Carlsbad, CA (MSA) 8 7 population growth continues to increase due to transportation Sioux Falls, SD (MSA) 9 17 advantages, labor supply, and development opportunities. SOURCE: www.visitmusiccity.com Madison, WI (MSA) 10 12

SOURCE: Policom Corporation

11 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM LOCATION OVERVIEW | NASHVILLE, TN CONTINUED

POPULATION NASHVILLE, TENNESSEE 1,200,000 POPULATION 1970-2020 1,000,000

800,000

600,000

YEAR 400,000 2010 1970 1975 2015 2020 1995 1980 1985 2005 1990 2000

NASHVILLE - THE HEALTHCARE INDUSTRY CAPITAL Nashville’s 2020 growth rate is 0.31% annually and its population has increased by 11.97% since the most recent Census, which recorded a The Nashville health care industry contributes an overall economic benefit of population of 601,222 in 2010. Spanning over 497 miles, Nashville has $46.7 billion and more than 270,000 jobs to the local economy annually. a population density of 1,416 people per square-mile. Globally, Nashville’s health care industry generates more than $92 billion in Nashville is enjoying healthy growth due to its music industry, tourists, revenue and more than 570,000 jobs. and new residents primarily comprised of immigrants and young people. A Gallup poll in 2013 ranked Nashville as one of the top 5 regions More than 500 health care companies have operations in Nashville and work on for job growth in the country. a multistate, national or international basis. Nashville’s metropolitan area is expected to reach 2 million by the next 16 publicly traded health care companies are headquartered in Nashville. Census in 2020, placing it in 10th place for most considerable urban SOURCE: healthcarecouncil.com growth. SOURCE: worldpopulationreview.com NASHVILLE CORPORATE OVERVIEW

NASHVILLE METRO AREA POPULATION BY YEAR The Nashville region has established itself as one of the most desirable headquarters YEAR TOTAL POPULATION GROWTH ANNUAL GROWTH RATE and corporate office locations in America. The Nashville region is home to 13 Fortune 1000 companies including 7 Fortune 500 headquarters (Forbes 2018). 2020 1,991,720 30,380 1.53% 2019 1,961,340 30,380 1.55% Corporate headquarters in the region range from sectors including: 2018 1,930,960 30,380 1.57% • RETAIL: Amazon, Dollar General, Tractor Supply Company, 2017 1,900,580 33,710 1.77% Kirkland’s, , Old Country Store Inc. 2016 1,866,870 37,520 2.01% • HEALTH CARE: HCA, Community Health Systems, LifePoint • MANUFACTURING: Nissan, Bridgestone, Hankook Tire 2015 1,829,350 36,420 1.99% • FINANCIAL SERVICES: Alliance Bernstein 2014 1,792,930 33,950 1.89% • TECHNOLOGY COMPANIES: Lyft, Eventbrite, Postmates, 2013 1,758,980 32,060 1.82% SmileDirectClub, Houzz, KeepTruckin’ SOURCE: worldpopulationreview.com

12 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM LOCATION OVERVIEW | FRANKLIN, TN

FRANKLIN, TENNESSEE is a city and the county seat of Williamson County, located about 21 miles south of Nashville. As of 2019, Franklin’s population was +/- 83,907, which makes it the seventh-largest city in Tennessee. According to community impact, Franklin is the 15th fastest growing city the nation that now has a continuing population growth of about 2.59% per year. Franklin benefits from its proximity to Nashville as many commuters from Franklin travel into the city for work and recreation purposes. With a healthy household income of +/- $100,337, the town was named as the “8th Best Place to Live” and was ranked in the ‘“Top 10 Places to Retire” by Money Magazine. In addition, Business Week Magazine named Franklin one of the “Top 50 Cities to Start a Small Business.” Within the city of Franklin is Cool Springs, which is a business district that has developed within the city since the early 1990s. Since 2009, Cool Springs has been home to multiple Fortune 500 headquarters such as HealthSpring, , Magazines.com, and Atmos Energy. The downtown offers elegant shopping, restaurants, antique shops, a variety of clothing stores, art galleries, professional services, and much more. Williamson has a 95.6% graduation rate and the composite ACT score outpaces the national average by 5 points. FRANKLIN, TN

SOURCE: Williamson Herald

Franklin has seen the job market increase by 2.4% over the last year. Future job growth over the next ten years is predicted to be 53.4%, which is higher than the U.S. average of 33.5%. ONE OF THE FASTEST The City of Franklin maintains a very low property tax of .4176 cents per $100 GROWING CITIES IN of assessed value compared to the $4.221 per $100 of assessed value recently THE U.S. approved in Nashville’s urban areas. CLICK TO VIEW ARTICLE SOURCE: City of Franklin, tennessean.com The unemployment rate in Franklin is 3.0%, which is lower than the U.S. average of 3.7%. According to Fox Business, Williamson County ranked #12 for richest county in the U.S. (2019). 15% POPULATION The economic development department forecasts that more than half of INCREASE BY 2019 the state’s population increase within the next 20 years is going to happen CLICK TO VIEW ARTICLE in the 10 counties. Williamson County is expected to pass Hamilton County (Chattanooga) as the fourth-largest county in the state by 2040, representing a 153% population increase. SOURCE: williamsonchamber.com

13 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM SURROUNDING TENANT MAP

LEGEND

TRANSPORTATION LINE SCHOOL/UNIVERSITIES N RAIL TRANSPORT HOSPITAL/MEDICAL

NEIGHBORHOOD POINT OF INTEREST

UNDER DEVELOPMENT

14 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM SURROUNDING DEVELOPMENT MAP

• • • • Currently under construction seven- • Proposed 1.7 million SF project • New development featuring: • building development consisting of: • 750,000 SF of office space • 350,000 SF of commercial office, retail • 332 residential apartment units • 480 residential units space, & restaurants contained in four buildings • 700 hotel rooms • 330 luxury apartments • A two-story commercial building • 100,000 SF of retail & space • 15 townhomes • Two one-story commercial buildings • 200-room hotel • Completion Targeted for 2021

• The hotel is expected to have 135 rooms. • The hotel is slated to open in February 2021. • Crescent Homes: Lockwood Glen +/- 21 Single-Family Homes • Celebration Homes: Riverbluff +/- 30-Lot Development • Goodall Homes The Cottages at Waters Edge +/- 58 Single Homes A 237-unit affordable condominium development on 20.9 acres off of Wood Duck Court

• 600-acre mixed-use, master-planned community • Over 3 million square feet of office space • Over 1.8 million square feet of retail space • +/- 750 Residential Units • Franklin-based Ramsey Solutions is • +/- 400 Upscale Apartments adding a new, 192,000-square-foot building to its existing headquarters. • The company is expected to create 600 jobs. LEGEND • Completion is slated for May 2021

TRANSPORTATION LINE SCHOOL/UNIVERSITIES N POPULATION RAIL TRANSPORT HOSPITAL/MEDICAL 2 MILES 19,266 5 MILES 81,449 NEIGHBORHOOD POINT OF INTEREST NASHVILLE 10 MILES 183,032 ~18.4MI UNDER DEVELOPMENT

15 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM SURROUNDING AREA MAP

HIGH GROWTH COUNTY The Economic Development Department of Williamson county forecasts that more than half of the states population increase within the next 20 years is going to happen in the 10 Middle Tennessee counties. Williamson is expected to pass Hamilton County (Chattanooga) as the fourth largest county in the state by 2040. This represents a 153% population increase. According to data collected by Penske though one-way consumer truck rental reservations made via the company’s website, Nashville is ranked the #9 top moving destination for 2019.

WILLIAMSON COUNTY

16 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM DEMOGRAPHICS

POPULATION

2 MILES 5 MILES 10 MILES 20 MILES

2020 TOTAL POPULATION 19,266 81,449 183,032 782,869 2025 POPULATION 22,101 92,301 207,290 836,088 POP GROWTH 2020-2025 2.90% 2.70% 2.70% 1.40% AVERAGE AGE 38.30 38.90 39.00 36.00

HOUSEHOLDS ILES 0 M 2 MILES 5 MILES 10 MILES 20 MILES 2

2020 TOTAL HH 7,011 29,663 64,845 318,600 HH GROWTH 2020-2025 7,784 33,356 73,141 338,240 MEDIAN HH INCOME $89,288 $104,244 $112,660 $105,966 MILES AVG HOUSEHOLD SIZE 2.70 2.60 2.80 2.40 10 2020 AVG HH VEHICLES 2.00 2.00 2.00 2.00 ES MIL 5 IL E S M HOUSING 2

2 MILES 5 MILES 10 MILES 20 MILES

MEDIAN HOME VALUE $420,466 $437,753 $456,726 $381,491 MEDIAN YEAR BUILT 1990 1995 1997 1991

17 THE LEARNING EXPERIENCE | FRANKLIN, TN (NASHVILLE MSA) BENETLEASE.COM HOW B+E WORKS INNOVATIVE BUYER TOOLS

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