Representative Photo PAUL BONANNO JEFF RAMSAY JEFF BERGER (760) 452-2402 (760) 452-2403 (760) 452-2404 [email protected] [email protected] [email protected] FINANCIAL OVERVIEW ADDRESS 2134 NJ-38 Cherry Hill, NJ 08002 RENT SCHEDULE TERM ANNUAL RENT MONTHLY RENT Price $5,680,000 Cap Rate 5.0% Year 1 $278,400.00 $23,200.00 Net Operating Income $283,996 Year 2 $281,184.00 $23,432.00 Rentable Square Footage 8,700 Year 3 $283,995.84 $23,666.32 Lot Size 2.71 acres Year 4 $286,835.80 $23,902.98 Type of Ownership Fee Simple Year 5 $289,704.16 $24,142.01 Year 6 $292,601.20 $24,383.43 Year 7 $295,527.21 $24,627.27 Year 8 $298,482.48 $24,873.54 Year 9 $301,467.31 $25,122.28 Year 10 $304,481.98 $25,373.50 Year 11 $307,526.80 $25,627.23 Year 12 $310,602.07 $25,883.51 LEASE SUMMARY Year 13 $313,708.09 $26,142.34 Year 14 $316,845.17 $26,403.76 Lease Type Absolute NNN Year 15 $320,013.62 $26,667.80 Roof & Structure Tenant Lease Term 15 Years Rent Commencement September 25, 2015 Lease Expiration September 30, 2030 Term Remaining Approximately 12 ½ Years Increases 1% Annually Options Five x 5 Years Options 1-3: 1% annually Option 4: FMV then 1% annually Option 5: 1% annually Right of First Offer Yes TENANT OVERVIEW Olive Garden is the leading restaurant in the Italian dining segment with more than Ownership Public 800 restaurants, more than 96,000 employees and more than $3.6 billion in annual Tenant Olive Garden (GMRI, Inc.) sales. Keeping with modern-day Italian traditions, Olive Garden is expanding its Number of Locations 800 menu to provide more choices, variety and better-for-you options. Olive Garden Website www.olivegarden.com prepares its food with fresh ingredients presented simply with a focus on flavor and quality that is uniquely Italian. GMRI, Inc. is a wholly-owned subsidiary of Darden Restaurants, Inc. As of September 1, 2014, GMRI owned and operated 1,507 Darden restaurants in the United States and Canada either directly or indirectly through subsidiaries. GMRI owns and controls as some of its subsidiaries RARE Hospitality International, Florida SE, N and D Restaurants and Yard House USA INVESTMENT OVERVIEW INVESTMENT HIGHLIGHTS DEMOGRAPHICS POPULATION 1 Mile 3 Mile 5 Mile • 15 Year Absolute Triple Net Lease commenced September 2015 Total Population 11,732 98,656 275,931 • Corporate Guaranteed Lease through GMRI, Inc. INCOME • Absolute NNN lease – no landlord responsibilities Average Household Income $84,433 $82,969 $86,837 • 1% fixed annual increases TRAFFIC COUNTS NJ-38 (Kaighn Ave) • Located in the Philadelphia MSA Vehicles Per Day 55,500 • Dominant retail destination near the Cherry Hill Mall featuring AREA OVERVIEW anchors such as Nordstrom, Macy’s and JCPenney • Other retail uses in the immediate area include Target, Kohl’s, AMC Theaters, Ashley Furniture and many others • Located on Kaighn Avenue, a primary east-west corridor with traffic counts in excess of 55,000 vehicles per day Cherry Hill is a township in Camden County, New Jersey. As of • Over 275,000 people live within a 5 mile radius of the property the 2010 Census, the township had a population of 71,045. with average household income in excess of $86,000 Pinnacle Foods, Subaru of America and TD Bank, N.A. have headquarters in Cherry Hill. Melitta USA has its coffee • Operating at this location since 2000 roasting plant in the township as well. Cherry Hill is a “bedroom community” within a half-hour commute to Philadelphia or Camden, and within an hour to Trenton or Princeton, New Jersey. Philadelphia is the largest city in the Commonwealth of Pennsylvania and its the only consolidated city-county, the fifth-most-populous city in the United States, and the core of the sixth-largest metropolitan area in the country. The Philadelphia metropolitan area, known as the Delaware Valley, is home to 6.1 million residents, and the larger Philadelphia- Reading-Camden MD Combined Statistical Area contains approximately 7.2 million residents. REGIONAL MAP LOCAL MAP AERIAL PHOTO SITE PLAN .