NW Subject Property Chipotle Mexican Grill and Panera Bread 777 South Federal Highway | Deerfield Beach, FL 33441 Brand New Construction Two-Tenant Retail Strip Center | Brand New 10 Year Lease | Rare, Fort Lauderdale Metro Acquisition Opportunity | 10% Rental Escalations Every 5 Years | Directly on N Federal Highway (39,682 VPD) | NNN Leases Confidentiality and Restricted Use Agreement Offered Exclusively by This Confidential Offering Memorandum (“COM”) is provided by Stan Johnson Company (“SJC”), solely for your Brad Feller consideration of the opportunity to acquire the commercial property described herein (the “Property”). This COM Senior Director may be used only as stated herein and shall not be used for any other purpose, or in any other manner, without [email protected] prior written authorization and consent of SJC. P: +1 312.240.0194 This COM does not constitute or pertain to an offer of a security or an offer of any investment contract. This Isaiah Harf COM contains descriptive materials, financial information and other data compiled by SJC for the convenience Director of parties who may be interested in the Property. Such information is not all inclusive and is not represented to [email protected] include all information that may be material to an evaluation of the acquisition opportunity presented. SJC has P: +1 312.777.2437 not independently verified any of the information contained herein and makes no representations or warranties of any kind concerning the accuracy or completeness thereof. All summaries and discussions of documentation Blaise Bennett and/or financial information contained herein are qualified in their entirety by reference to the actual documents Associate and/or financial statements, which upon request may be made available. An interested party must conduct its [email protected] own independent investigation and verification of any information the party deems material to consideration of P: +1 312.777.2449 the opportunity, or otherwise appropriate, without reliance upon SJC. The Property may be financed or withdrawn from the market without notice, and its owner(s) reserve(s) the right Brandon Duff to negotiate with any number of interested parties at any time. The Property is offered and sold by its owner(s) Regional Director as is, where is, and with all faults, without representation or warranty of any kind except for any customary warranties of title. In Association With: BY ACCEPTING THIS COM, YOU AGREE THAT: (1) all information contained herein, and all other information you Jason Long have received or may hereafter receive from SJC relating to the Property, whether oral, written or in any other FL Lic # BK3302956 form (collectively, the “Information”), is strictly confidential; (2) you will not copy or reproduce, and claim as your own without attribution to SJC, all or any part of this COM or the Information; (3) upon request by SJC at any time, you will return and/or certify your complete destruction of all copies of this COM and the Information; (4) for yourself and all your affiliates, officers, employees, representatives, agents and principals, you hereby release and agree to indemnify and hold harmless SJC all of its affiliates, officers, employees, representatives, agents and principals, from and with respect to any and all claims and liabilities arising from or related to the receipt or Stan Johnson Company use of this COM and/or any other Information concerning the Property; (5) you will not provide this COM or any 303 East Wacker Drive | Suite 1111 of the Information to any other party unless you first obtain such party’s acceptance and approval of all terms, Chicago, IL 60601 conditions, limitations and agreements set forth herein, as being applicable to such party as well as to you; and P: +1 312.240.0127 | F: +1 312.240.0158 (6) monetary damages alone will not be an adequate remedy for a violation of these terms and that SJC shall be stanjohnsonco.com entitled to equitable relief, including, but not limited to, injunctive relief and specific performance, in connection with such a violation and shall not be required to post a bond when obtaining such relief. Table of Contents Section 1 - Executive Summary The Offering .......................................................................................................................................................5 Investment Highlights ..................................................................................................................................6 Pricing and Property Overview .............................................................................................................7 Rent Roll ...............................................................................................................................................................8 Pro Forma Income Statement ................................................................................................................9 10 Year Leveraged Cash Flow ...............................................................................................................10 Section 2 - Tenant Information Chipotle Lease Abstract & Rent Schedule ....................................................................................12 Chipotle Tenant Overview ....................................................................................................................... 13 Panera Lease Abstract & Rent Schedule ....................................................................................... 14 Panera Tenant Overview ...........................................................................................................................15 Section 3 - Location Information Location Overview ........................................................................................................................................17 Site Plan .............................................................................................................................................................. 18 Strip Map ........................................................................................................................................................... 19 Subject Property Photos ........................................................................................................................20 Surrounding Retail ........................................................................................................................................21 Demographics ............................................................................................................................................... 22 Section One About the Investment SW Subject Property The Offering Stan Johnson Company is pleased to exclusively offer for sale to qualified investors, the opportunity to purchase a 100% fee-simple interest in the two-tenant retail center located at 777 South Federal Highway in Deerfield Beach, FL (the “Property”). The Property is 100% leased by co- tenants, Chipotle Mexican Grill and Panera Bread, and is located within the heart of the Deerfield Beach retail trade area. This retail trade area is the home of numerous national credit retailers including ALDI, Target, Winn-Dixie, Office Depot, Starbucks, Bealls Department Store, Walmart Supercenter, CVS Pharmacy, LA Fitness, Publix, among many others. The Property was built in 2014 and is located on South Federal Highway (39,682 VPD). It is an attractive, well maintained property with clear visibility and ease of access. The total rentable SF is 6,300 SF, and the Property is 1.25 acres. Chipotle occupies 2,200 SF, while Panera occupies 4,100 SF on a brand new 10 year lease which commenced in July 2014 and August 2014, respectively. The Property has a stabilized NOI of $230,984. Chipotle Mexican Grill and Panera Bread both currently operate under NNN leases with the Tenants responsible for their pro rata shares of taxes, insurance and CAM. Subject to reimbursement by Tenant, the Landlord is responsible for exterior and structural components of the building, roof and parking NE lot (please see lease abstracts for full expense details for both Chipotle and Panera Bread). Subject Property Section 1 • Chipotle & Panera Bread • Deerfield Beach, FL 5 Investment Highlights Excellent Tenant Base Panera Bread and Chipotle Mexican Grill represent two highly desirable retail tenants with more than a combined 2,900 locations across the country. Chipotle boasts a market cap of $15.03 billion, and as of September 30, 2015, revenue of $4.57 billion. Panera boasts a market cap of $5.22 billion, and as of September 30, 2015, revenue of $2.66 billion Leading Franchisee Panera Bread is operated by Covelli Enterprises, the single largest franchisee of Panera Bread (266 locations) and O’Charley’s restaurants and the 4th largest franchisee in the nation Brand New Construction Two-Tenant Retail Strip Center The Property was built in 2014 representing significant commitment to location’s retail strength and projected future success. It is an attractive, well maintained property with clear visibility and ease of access 8 Years Base Lease Term Remaining Chipotle and Panera Bread are both operating under 10 year base lease terms, followed by four, 5-year renewal option periods Rental Escalations Leases feature 10% rental increases every five years through the base terms and at the beginning of each renewal option period Highly Visible, Easily Accessible Location The Property is