OFFERED INDIVIDUALLY OR AS A PORTFOLIO FRITO-LAY DISTRIBUTION CENTERS REPRESENTATIVE PHOTO ADDRESS NOT DISCLOSED, VARIOUS MARKETS, VT, NH, & MA 30445 Northwestern Highway, Suite 275 DEREK DELAURA Farmington Hills, MI 48334 SENIOR ADVISOR 248.254.3410 D: 248.419.3886 [email protected] fortisnetlease.com FRITO-LAY DISTRIBUTION CENTERS LOCATED IN VT, NH, & MA DISCLOSURE : All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as “FNL”), its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty by FNL its directors, officers, agents, advisors, or affiliates as to com- pleteness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters. Neither FNL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. FNL will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. ALL PARTIES SHALL CONDUCT THEIR OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE: 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. FNL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. FNL does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by FNL in compliance with all applicable fair housing and equal opportunity laws. EXCLUSIVELY LISTED BY: DEREK DELAURA SENIOR ADVISOR D: 248.419.3886 [email protected] DEREK DELAURA | 248.419.3886 | [email protected] DISCLAIMER // 2 FRITO-LAY DISTRIBUTION CENTERS LOCATED IN VT, NH, & MA PORTFOLIO OFFERING SUMMARY PORTFOLIO OVERVIEW Portfolio Price: $4,605,445 Fortis Net Lease is pleased to present this rare portfolio of four (4) free-standing Frito-Lay Distribution Centers, with sites being in VT, MA, & NH. Three of the location have one, 5-year option period remaining with rent increases built in. All four (4) Distribution Centers were built-to-suit for Frito-Lay. Each of the leases are NN in nature leaving Cap Rate: 5.75% minimal landlord responsibilities. NOI: $264,813 **Offered Individually or as a Portfolio.** Total Acreage: 18.27 Acres PORTFOLIO HIGHLIGHTS NN Leases Leaving Minimal Landlord Responsivities Total SF: 22,740 SF Four (4) Frito-Lay Distribution Centers One, 5-Year Option Period w/ Rent Increases Year Built: 2004 - 2019 10-Year Primary Lease Terms Zoning: Commercial All Four (4) Locations were B-T-S for Frito-Lay Price / SF: $202.53 DEREK DELAURA | 248.419.3886 | [email protected] EXECUTIVE SUMMARY // 3 FRITO-LAY DISTRIBUTION CENTERS LOCATED IN VT, NH, & MA FINANCIAL SUMMARY PORTFOLIO LEASE SUMMARY INCOME FRITO-LAY DISTRIBUTION CENTERS - PORTFOLIO PER SF Tenant: Frito-Lay Lease Type: NN Lease Gross Income $290,111.63 $12.76 Primary Lease Term: 10 Years EXPENSE FRITO-LAY DISTRIBUTION CENTERS - PORTFOLIO PER SF Landlord Responsibilities: Roof, Structure, Parking, Taxes Annual Taxes $25,298.54 $1.11 Insurance & CAM: Tenant Responsibility Gross Expenses $25,298.54 $1.11 Lease Start Date: 2004 - 2019 Lease Expiration Date: 2024 - 2029 NET OPERATING INCOME $264,813.09 $11.65 Lease Term Remaining: 3 - 8 Years PORTFOLIO SUMMARY Rent Increases: In Options Year Built: 2004 - 2019 Renewal Options: One, 5-Year Lot Size: 18.27 Acres Tenant Website: www..FritoLay.com Building Size: 22,740 SF Total Dock Doors: 24 Roof Type: Metal Zoning: Commercial Construction Style: Prototype DEREK DELAURA | 248.419.3886 | [email protected] PROPERTIES & LEASES // 4 FRITO-LAY DISTRIBUTION CENTERS LOCATED IN VT, NH, & MA COMPANY INFO Frito-Lay is an American subsidiary of PepsiCo that manufactures, markets, and sells corn chips, potato chips, and other snack foods. The primary snack food OVERVIEW brands produced under the Frito-Lay name include Fritos corn Company: PepsiCo, Inc. chips, Cheetos cheese-flavored snacks, Doritos and Tostitos tortilla Founded: 1965 chips, Lay's and Ruffles potato chips, Rold Gold pretzels, and Walkers potato crisps (in the UK and Ireland). 2020 Revenue: $70.37 Billion Area Served: Worldwide Frito-Lay began in the early 1930s as two separate companies, The Frito Company and H.W. Lay & Company, which merged in 1961 to form Frito-Lay, Inc. Headquarters: Harrison, NY In 1965, Frito-Lay, Inc. merged with the Pepsi-Cola Company, resulting in the Website: www.PepsiCo.com formation of PepsiCo. Since that time, Frito-Lay has operated as a wholly owned Website: www.FritoLay.com subsidiary of PepsiCo. Through Frito-Lay, PepsiCo is the largest globally distributed snack food company, with sales of its products in 2009 comprising 40 percent of all "savory snacks" sold in the United States, and 30 percent of TENANT HIGHLIGHTS the non-U.S. market. In 2018, Frito-Lay North America accounted for 25 percent 267,000+ Employees Worldwide of PepsiCo's annual sales. PepsiCo's 2020 Revenues > $70.37 Billion PepsiCo, Inc. is an American multinational food, snack, and beverage NASDAQ: PEP corporation headquartered in Harrison, New York. PepsiCo has interests in the manufacturing, marketing, and distribution of grain-based snack foods, beverages, and other products. DEREK DELAURA | 248.419.3886 | [email protected] TENANT PROFILE - PEPSICO FRITO-LAY // 5 FRITO-LAY DISTRIBUTION CENTERS LOCATED IN VT, NH, & MA DEREK DELAURA | 248.419.3886 | [email protected] PORTFOLIO MAP // 6 FRITO-LAY DISTRIBUTION CENTERS 1375 ROUTE 7B CENTRAL, NORTH CLARENDON, VT 05759 OFFERING SUMMARY CLARENDON, VT - OVERVIEW Sale Price: $1,614,658 Fortis Net Lease is pleased to present this free-standing Frito-Lay Distribution Center located in Clarendon, VT. The tenant has been successfully operating at this location since 2008 and recently signed a 5-year lease extension showing long term commitment to this site. The building features 13 dock doors and sits on 10.83 acres Cap Rate: 5.75% of land. The lease is NN nature leaving minimal landlord responsibilities. NOI: $92,842.86 Lease End: 02/28/2027 PROPERTY HIGHLIGHTS 6+ Years Remaining on NN Lease Lot Size: 10.83 Acres Directly Adjacent and Easy Access to Regional Airport 13 Dock Doors Building Size: 9,000 SF One, 5-Year Option Period w/ Rent Increases Year Built: 2008 10-Year Primary Lease Term 2008 B-T-S Construction for Frito-Lay Zoning: Commercial 10 Mile Population > 29,900 DEREK DELAURA | 248.419.3886 | [email protected] SUMMARY - CLARENDON, VT // 7 FRITO-LAY DISTRIBUTION CENTERS 1375 ROUTE 7B CENTRAL, NORTH CLARENDON, VT 05759 Clarendon, VT Clarendon, VT Clarendon, VT Clarendon, VT DEREK DELAURA | 248.419.3886 | [email protected] PHOTOS - CLARENDON, VT // 8 FRITO-LAY DISTRIBUTION CENTERS 1375 ROUTE 7B CENTRAL, NORTH CLARENDON, VT 05759 DEREK DELAURA | 248.419.3886 | [email protected] AERIAL MAP - CLARENDON, VT // 9 FRITO-LAY DISTRIBUTION CENTERS 1375 ROUTE 7B CENTRAL, NORTH CLARENDON, VT 05759 DEREK DELAURA | 248.419.3886 | [email protected] LOCATION MAP - CLARENDON, VT // 10 FRITO-LAY DISTRIBUTION CENTERS 1375 ROUTE 7B CENTRAL, NORTH CLARENDON, VT 05759 POPULATION 1 MILE 5 MILES 10 MILES Total Population 2020 450 5,502 29,902 Average Age 47.2 47.8 47.0 # Of Persons Per HH 2.3 2.3 2.3 HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES Total Households 188 2,334 13,078 Average HH Income $67,700 $72,400 $68,200 Median House Value $196,000 $192,000 $182,200 CLARENDON, VT Nestled n the Green Mountains of Vermont, Clarendon is a thriving small town in Rutland County. Long ago, Clarendon was