Confidential Offering Memorandum

CHURCH'S CHICKEN

2015 N. Wickham Road | Melbourne, FL 32935 Exclusive Offering Listed By

$3,564,000 Purchase Price Executive Vice President

6.00% C A P R a t e

$213,816 Annual Rent Brokerage Associate [email protected] Absolute NNN +1.512.819.4729 L e a se Ty p e

CHURCH'S CHICKEN | MELBOURNE, FL Disclaimer and Confidentiality Statement

The information contained herein is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from the Embree Group of Companies (Embree Group) and should not be made available to any other person or entity without the written consent of the Embree Group (the Embree Group collectively refers to Embree Capital Markets Group, Inc., Embree Asset Group, Inc., Embree Healthcare Group, Inc., and Embree Construction Group, Inc.). This brochure has been prepared to provide summary information to prospective investors and to establish a preliminary level of interest in establishing an investment relationship with the Embree Group, which may or may not include the sale or purchase of any specific property referenced herein. Several Embree Group employees are licensed real estate agents and brokers in various states.

The information contained herein is not a substitute for a thorough due diligence investigation. The Embree Group has supplied information in this brochure from sources we believe are reliable; however, all potential Buyers and Investors must take appropriate measures to investigate and verify the income and expenses for any specific property, the future projected financial performance of any specific property, the size and square footage of any specific property and its improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant or any tenant’s plans or intentions to continue its occupancy of any specific property.

The Embree Group reserves the right to withdraw this solicitation at any time without prior notice. The information contained herein is based upon sources deemed to be reliable, but the accuracy of the information is not guaranteed, nor should the information contained herein be considered all inclusive. Statements contained herein which involve matters of opinion, whether or not identified to be that only, are not representations of fact. The price and terms of this offering may be subject to change at any time.

The Embree Group is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of the Embree Group, its affiliates or subsidiaries, or any agent, product, or commercial listing of The Embree Group, and is solely included for the purpose of proving tenant lessee information about this listing to prospective customers.

This asset is listed in conjunction with Keller Williams Realty, Scott Decker

CHURCH'S CHICKEN | MELBOURNE, FL Table of Contents

Section 1: Executive Summary

Property + Lease Details Page 5 Company Overview Page 6

Section 2: The Property

Site Plan Page 7 Property Photos Page 8

Section 3: Maps & Aerials

Site Aerial Page 9 City Aerial Page 10 Location Context Page 11

Section 4: Analysis

Demographic Analysis Page 12 Contact Page 13

Representative Photo

CHURCH'S CHICKEN | MELBOURNE, FL Property & Lease Details

The Offering Property Address 2015 N Wickham Rd. Melbourne, FL 32935 Tentant Goalz Group FLA, LLC Guarantor Goalz Restaurant Group, LLC & One High Net-Worth Individual Site Description Rent Roll Summary Year Built 2019 Lease Term: Annual Rent: Monthly Rent: CAP Rate: Year 1 $213,816 $17,818 6.00% Building Square Feet Approximately 1,850 SF Year 2 $218,092 $18,174 6.12% Lot Size Approximately 0.86 Acres Year 3 $222,454 $18,537 6.24% Year 4 $226,903 $18,908 6.37% Investment Summary Year 5 $231,441 $19,286 6.49% Purchase Price $3,564,000 Year 6 $236,070 $19,672 6.62% Year 7 $240,791 $20,065 6.76% Annual Rent $213,816 Year 8 $245,607 $20,467 6.89% CAP Rate 6.00% Year 9 $250,519 $20,876 7.03% Year 10 $255,529 $21,294 7.17% Est. Commencement December 2019 Year 11 $260,640 $21,720 7.31% Est. Lease End December 2039 Year 12 $265,853 $22,154 7.46% Year 13 $271,170 $22,597 7.61% Primary Lease Term 20 - Years Year 14 $276,593 $23,049 7.76% Roof & Structure Tenant Responsible Year 15 $282,125 $23,510 7.92% Year 16 $287,768 $23,980 8.07% Lease Type Absolute NNN Year 17 $293,523 $24,460 8.24% Year 18 $299,394 $24,949 8.40% Lease Escalations 2.00% Annually Year 19 $305,381 $25,448 8.57% Renewal Options Three, 5 - Years Year 20 $311,489 $25,957 8.74%

CHURCH'S CHICKEN | MELBOURNE, FL 5 Brand Overview Operator Overview

Church's Chicken is a US-based chain of specializing in fried Goalz Restaurant Group was formed by restaurant industry veteran Shawn Eby, chicken, also trading outside North America as Chicken. Church’s currently who had a goal to start and develop his own company that would focus around operates over 1,700 locations in 32 states, two U.S. territories, and 23 foreign countries. helping others. He formed a team of top industry professionals to help The company is headquartered in Sandy Springs (Atlanta), Georgia, and is the fourth- achieve this. The team includes Wade Lancaster-VP of Operations, Jeron Boemer- largest chicken restaurant chain behind KFC, Chick-fil-A, and former sister chain VP of Operations, and Steve Piascik-CFO. Goalz Restaurant Group is currently Chicken & Biscuits. scheduled to open 265 restaurants over the next few years across ten states, (NC, SC, GA, FL, LA, OH, CO, WY, KY, IL) and has additional plans to grow further. The chain was founded by George Church in 1952 in San Antonio under the original Currently the three brands that Goalz will franchise are Captain D’s, Church’s name of Church's To Go. Initially, the restaurant sold only chicken, but Chicken and Dog Haus. fries and jalapeños were added in 1955. The menu for Church's has since greatly expanded with fried okra, cole slaw, mashed potatoes, corn on the cob, and honey Shawn has always said “without goals you have no direction and without direction butter biscuits being staples. Also, newer entree choices have emerged, including you go nowhere”. When it came to thinking of not just a name but what we want to , nuggets, , and a spicy flavor option for the chicken. be known for Shawn thought about his career and how he wanted this to be a

In 2009, Church's Chicken was purchased by the San Francisco based private equity company that truly cares about the employees and their families. He thought firm Friedman Fleischer & Lowe, which operates the Church's brand through a wholly- about his goal setting class and teaching people about Goals Boards and to go owned subsidiary, Cajun Global, LLC. In 2011, Cajun Global, LLC issued debt that was after your dreams. Goalz recently announced a 200 unit Church's Chicken rated ‘BBB’ by Standard & Poor’s. Cajun Global, LLC does not guarantee the lease. franchise commitment with a plan to open 20 new locations yearly.

www.Churchs.com www.GoalzLLC.com

CHURCH'S CHICKEN | MELBOURNE, FL 6 Elevations & Site Plans

1,850 Square Feet

CHURCH'S CHICKEN | MELBOURNE, FL 7 Property Photos

CHURCH'S CHICKEN | MELBOURNE, FL 8 1-3 Minute Drive

Site Aerial

CHURCH'S CHICKEN | MELBOURNE, FL W TornadoT o r n a d o AveA v e 9 Orlando 55 miles

City Aerial

CHURCH'S CHICKEN | MELBOURNE, FL W TornadoT o r n a d o AveA v e 10 Location Context

State Region

65 Miles Southeast of Orlando 65 Miles North of Port St. Lucie

CHURCH'S CHICKEN | MELBOURNE, FL 11 Demographic Analysis • Melbourne, FL

1 Mile 3 Miles 5 Miles

2019 Population 11,392 57,429 102,548 2024 Projection 11,933 59,633 107,640 Growth 2019-2024 4.7% 3.8% 5.0%

2019 Households 5,250 25,113 44,743 2024 Projected households 5,486 26,037 46,905 Growth 2019-2024 4.5% 3.7% 4.8%

Average Household Income $59,207 $66,673 $73,858 Less than $25,000 1,378 5,802 9,047 $25,000-$50,000 1,563 6,832 11,534 $50,000-$75,000 1,021 5,099 8,885 $75,000-$100,000 493 2,681 5,341 $100,000+ 794 4,700 9,935

CHURCH'S CHICKEN | MELBOURNE, FL 12 About Embree

Embree Group of Companies provides nationwide turnkey real estate services, specializing in build- to-suit development, design/build, general construction, program management, and capital markets for specialty retail, financial, automotive, restaurant, healthcare and senior living facilities. Embree’s fully integrated, in-house services allow Exclusively Presented By: us to become an extension of the client’s organization. Since 1979, Embree’s foundation has been built on developing tailored programs for Josiah Byrnes 300+ national clients. The firm is headquartered Executive Vice President near Austin, Texas, with regional offices located in Phoenix and the DFW area. Over the past 40 years, Embree’s executive team has developed, built, or transacted more than 13,000 assets in all 50 states, , and Canada with a total market value Klinton Lewis in excess of $10 billion. Brokerage Associate [email protected] +1.512.819.4729 www.EmbreeGroup.com

CHURCH'S CHICKEN | MELBOURNE, FL 13