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CONFIDENTIAL OFFERING MEMORANDUM

Chili’s 4000 Vinewood Lane Plymouth, MN LOCATION Stock Photo Table of Contents

OFFERING MEMORANDUM

Confidential Disclaimer

The information contained in the following Plymouth Chili’s OM is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Syndicated Equities and should not be made 02 Confidential Disclaimer available to any other person or entity without the written consent of Syndicated Equities. This Plymouth Chili’s OM has been prepared 03 Deal Summary to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. Property Profile The information contained herein is not a substitute for a thorough due 04 diligence investigation. Syndicated Equities has not made any inves­tigation, and makes no warranty or representation, with respect to the income or 05 Property Aerial expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property 06 City Aerial and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the 07 Demographics 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 the subject property. The infor­mation contained in 08 Contact Information this Plymouth Chili’s OM has been obtained from sources we believe to be reliable; however, Syndicated Equities has not verified, and will not verify, any of the information contained herein, nor has Syndicated Equities conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

Syndicated Equities A National Real Estate Investment Company www.syneq.com 2 Deal Summary

DEAL DETAILS TENANT DETAILS

Price $2,610,100 Guarantor Manna Inc.

Net Operating Income $189,232 Headquarters Louisville, KY

Cap Rate 7.25% Locations 120

Lease Structure Absolute NNN RENT SCHEDULE & RETURN

Rent Increases 1.5% Annually Date Annual Rent Annual Yield INVESTMENT HIGHLIGHTS Rent Commencement 11/01/2007 11/01/2018 $189,232 7.25%

Attractive 1.5% annual increases 11/01/2019 $192,070 7.36% Term Remaining 8.5 Years Three consecutive years of 11/01/2020 $194,951 7.47% increasing sales Lease Expiration 10/31/2027 11/01/2021 $197,875 7.58% Absolute NNN lease with zero landlord responsibilities Options Four 5-Year 11/01/2022 $200,843 7.69%

Outparcel to Target and Kohl’s 11/01/2023 $203,856 7.81% anchored shopping center Ownership Type Fee Simple 11/01/2024 $206,914 7.93% Strong franchise guaranty with over 120 locations nationwide Building Size 6,197 SF 11/01/2025 $210,018 8.05% Situated in a retail corridor Lot Size 1.38 Acres directly off of Interstate 494 11/01/2026 $213,168 8.17%

www.syneq.com 3 Property Profile Location Plymouth Chili’s (the “Property”) is located in a retail corridor directly off of Interstate Plymouth is located 13 miles northwest of downtown Minneapolis and is the 494, a loop highway and part of the I-94 Beltway that runs around the south third largest suburb in the Minneapolis/St. Paul metropolitan statistical area. and western border of Minneapolis/St. Paul. The Property is situated on an Plymouth is located in Hennepin County, the most populous county in the outparcel directly in front of Rockford Road Plaza, an institutional-quality state, the fastest growing county in the state, and the second most affluent in shopping center anchored by Target, HomeGoods, Kohl’s, and TJ Maxx. Other terms of per capita income. The Minneapolis metro population is 3.55 million national tenants in Rockford Road Plaza include Christopher and Banks, Famous residents, making Minneapolis/St. Paul the 14th largest city in the . Footwear, Sally Beauty, Petsmart, Banfield Pet Hospital, and Bath & Body The Twin Cities has the second largest economy in the 14 state Midwest Works. In addition to Chili’s, there are four outparcels to Rockford Road Plaza: Region, second only to Chicago. Minneapolis/St. Paul also has the largest per Walgreens, Holiday Station Stores, Five Guys, and Sunshine Factory Bar & Grill. capita concentration in the Midwest of Fortune 500 company headquarters, featuring 17 corporate headquarters. Notable companies include; , Southwest on Rockford Road, approximately one half mile from Chili’s, is UnitedHealth Group, U.S. Bank, , , C.H. Robinson, another commercial and community thoroughfare which features Fresh Thyme Land O’Lakes, Supervalu, , , Target, Boston Market, Cub Foods, Lowe’s, Michaels, Buffalo Wild Wings, Walgreens, Goodwill, Scientific, Mortenson Construction, , Polaris and Honeywell. Starbucks, , and Plymouth Grand Theater (with 15 screens). As of August 2018, the unemployment rate in Hennepin County was 2.4%, Approximately one mile south of the Property is Abbott Northwestern well below the national average of 3.8%. The Twin Cities has been cited – WestHealth, which provides inpatient and outpatient services to by The New York Times, Forbes Magazine, Country Living, and Wall the western metro area and is part of the Allina Hospital System. Street Journal as having one of the best qualities of life in the country.

Wayzata High School, the largest high school in the entire state, is one mile west of Tenant the Property and has a total enrollment of over 4,000 students grades 9-12. Medina The Property is leased to Chili’s, an American casual dining restaurant chain that Country Club, a 100-year established golf club, Hollydale Golf Course, Clifton E. was founded in 1975. The Plymouth location is operated by Manna, Inc., which French Regional Park, and several large lakes and public beaches are also nearby. owns and manages 120 Chili’s locations nationwide. Manna is one of the largest Located within the heart of biomedical employers and company headquarters, Chili’s franchisee’s in the world. Manna also owns and operates franchises for Blaze the Property and surrounding retailers are convenient for medium to large Pizza, Fazoli’s, Golden Corral, Perkins, Marks, Wendy’s, and Napa River Grill. industrial and office campuses located off I-494 and I-69 within three miles of the Property. The Property is located among a concentration of large biomedical companies and industrial parks off I-494. Tenants include Medtronic, St. Jude Medical, Honeywell, US Foods, and Prudential.

www.syneq.com 4 Property Aerial

www.syneq.com 5 City Aerial

www.syneq.com 6 Demographics

1 Mile 3 Miles 5 Miles

Total Population 6,940 70,880 182,826 Population Density 2,203 2,500 2,322 Population Median Age 42.2 39.6 39.4 Estimated Population Growth 2018-2023 0.99% 5.29% 4.11%

Average Household Income $158,231 $130,721 $121,215 Median Household Income $112,308 $93,777 $85,681 Per Capita Income $62,948 $53,378 $49,919 Average Income Growth 2000-2010 29.82% 25.22% 28.88% Estimated Avg. Income Growth 2018-2023 12.61% 12.91% 13.74%

Households 2,761 28,868 75,000 Average Household Size 2.52 2.41 2.41

Owner Occupied Housing Growth 2000-2023 15.11% 23.40% 19.96% % Occupied 98.51% 98.42% 97.68%

www.syneq.com 7 Contact Information

Jason Schwartz Jessica Healy Jon Principal Senior Associate Senior Associate

p: 312.640.9016 p: 312.640.9028 p: 312.640.9018 [email protected] [email protected] [email protected]

Syndicated Equities Chicago Office 350 North LaSalle Street, Ste. 800 Chicago, Illinois 60654 p: 312.640.9020 | f: 312.640.9021

Satellite Office in Washington, DC & Salt Lake City

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