[ REPRESENTATIVE PHOTO ]

15-year ground lease with 10% Rental Increases2016 Sales in excess of $6 Billion550 Universal Drive, North Haven, CT 06473

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BRAND NEW Chick-fil-a ground lease

laND area . . . . . . . . . . . . . . . 1 .46 Acres

Year BUIlT . . . . . . . . . . . . . . . 2016

CUrreNT reNT . . . . . . . . . . . . $125,000 in Ground Rent

lease exPIraTIoN . . . . . . . . . 2031

PRICE: $3,125,000CAP: 4.00%

Listing TeamContact Info

John Andreinijandreini@capitalpacific .com | (415) 274-2715CA BRE# 01440360

PROperty Summary

BRAnd nEw ChICk-fIl-A In noRth hAvEn, Ct (80 mIlEs fRom mAnhAttAn) loCAtEd At thE EntRAnCE of CInEmARk. ImmEdIAtE AREA REtAIlERs InCludE thE homE dEPot, Bj’s wholE sAlE, tARgEt, PEtsmARt, tj mAxx And A vARIEty of othER nAtIonAl Box ChAIns. Capital Pacific collaborates . Click Here to

meet the rest of our San Francisco team .

[ subject property anchor ] chick-fil-a | 2

Over 190,000 Residents within a 5-mile radiusNational Tenant

primary regional trade area with numerous anchorsImmediate area retailers include Cinemark, Target, The Home Depot, TJ Maxx, Dick’s Sporting Goods, Verizon, Dunkin’ Donuts, Ulta, Petco & many others .

pad to cinemark movie theatresWith a 25+ year history at this location, Cinemark spent in excess of $16 million in 2015 tearing down the former movie theater and replaced it with a lavish, new 57,000 square foot 14-screen multiplex .

surrounded by six college & university campusesSubject property is located five miles from Yale University . Other North Haven campuses include: Albertus Magnus, Gateway Community Technical College, Quinnipiac University’s main campus, Southern Connecticut State University and University of New Haven .

average household incomes exceed $87,000 within a one mile radius

corporate credit tenant (see page 9 for more details)Chick-fil-A system-wide sales exceeded $6 billion in 2015 . Chick-fil-A serves freshly prepared food in more than 2,000 restaurants in 42 states and Washington, D .C .

15-year absolute net ground lease Lease features 10% rental increases every five years throughout the primary term and six 5-year option periods . Store opening and rent commencement projected to be September 8, 2016 .

core characteristics

[ surrounding retail ]chick-fil-a | 3

aerial neighboring tenants include cinemark, target, the home depot & many others

Wilbur Cross Parkway

Universal Drivestate street

Whitney avenue

Whitney avenue

legion avenue

91

91

95

95

91

10

15

15

5

5

alling memorial golF course

neW haVen country club

ridge High school

Whiteny HIgh school

North and West

Hamden High

school

ross/Woodward

school

Wilbur Cross High school

eli Whitney Technical High

school

east rock Community school

Bishop Woods school

neW haVen city center

17,800 dailyuniversal drive

100,500 dailyinterstate 91

chick-fil-a | 4

subject property is adjacent

to cinemark , the home depot, tj

maxx, bj’s & many others

surrounding retail

chick-fil-a | 5

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

income & expense

PRICE $3,125,000 Price Per Square Foot: $49 .00

Capitalization Rate: 4 .00%

Total Rentable Area (SF): 63,782

Total Building Area (SF): 5,500

Lot Size (AC): 1 .46

STABILIZED INCOME Per Square FootScheduled Ground Rent $1 .96 $125,000

LESS Per Square FootTaxes NNN $0 .00

Insurance NNN $0 .00

Total Operating Expenses NNN $0 .00

EQUALS NET OPERATING INCOME $125,000

[ subject property anchor ]

chick-fil-a | 6

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

RENTaliNcREaSES

rent roll

TENANT INFO LEASE TERMS RENT SUMMARY

Tenant Name Sq . Ft . Term Current Rent MonthlyRent

YearlyRent

MonthlyRent/FT

YearlyRent/FT

Chick-fil-A 63,782 1 5 $125,000 $10,417 $125,000 $0 .16 $1 .96

6 10 $11,458 $137,500 $0 .18 $2 .16

11 15 $12,604 $151,250 $0 .20 $2 .37

Option 1 16 20 $13,865 $166,375 $0 .22 $2 .61

Option 2 21 25 $15,251 $183,013 $0 .24 $2 .87

Option 3 26 30 $16,776 $201,314 $0 .26 $3 .16

Option 4 31 35 $18,454 $221,445 $0 .29 $3 .47

Option 5 36 40 $20,299 $243,590 $0 .32 $3 .82

Option 6 41 45 $22,329 $267,949 $0 .35 $4 .20

totals: 63,782 $125,000 $10,417 $125,000 $0.16 $1.96

*rent commencement & store opening projected to be september 8, 2016. landlord has fulfilled all its delivery obligations.

[ subject property anchor ]chick-fil-a | 7

sITe PlaN KeY

PARCEL OUTLINE:

LAND AREA: 1 .46 ACRES

BUILDING AREA: 63,782 SF

INGRESS/EGRESS:

site plan

universa

l driv

e

91not a part

not a part

100,500 da

ily

17,8

00 D

aIlY

This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. chick-fil-a | 8

CHICK-fIl-a

Atlanta-based Chick-fil-A, Inc . is a family owned and privately held restaurant company founded in 1946 . Devoted to serving the local communities in which its franchised restaurants operate, Chick-fil-A offers freshly prepared food in more than 2,000 restaurants in 42 states and Washington, D .C and is known for its original chicken sandwich .

Chick-fil-A system sales exceeded $6 billion in 2015, which marks 48 consecutive years of sales growth . Chick-fil-A ranked first for customer satisfaction in the Limited Service Restaurants industry according to the 2015 American Customer Satisfaction Index and received the highest ACSI score ever in the industry . The company was also recognized in 2015 as America’s “Top Chicken Restaurant Brand” by The Harris Poll . It as also the only restaurant brand named to the Top 10 “Best Companies to Work For” by 24/7 Wall Street .

www.chick-fil-a.com

loCaTIoNs 2,000

Gross reVeNUe$6+ Billion

fiscal 2015

tenant overview

[ REPRESENTATIVE PHOTOS ]

chick-fil-a | 9

NorTH HaVeN, CT oVerVIeW North Haven is located in New Haven County, CT on the outskirts of New Haven and less than 10 miles from Yale University . North Haven is centrally located between New York, Boston and Providence . With easy access to Interstate 91, 95 and the Merritt Parkway, its ideally located for business and pleasure .

Increased economic activity and population growth in the New Haven area combine to make North Haven a desirable residential suburb . There is a diverse commercial tax base including large and small manufacturers, distributors of food, beverage and industrial products, retail centers, entertainment and restaurants .

population

2015 household incomes

ToP emPloYers IN NeW HaVeN CoUNTY

Yale University 10,500AT&T 8,100Yale New Haven Hospital Inc . 5,800Pritchard Industries 1,200

1-mile 3-mile 5-mile

2010 2,084 57,011 190,3402015 2,094 56,196 191,4522020 2,097 56,215 192,596

1-mile 3-mile 5-mile

Average $87,709 $78,113 $69,835

location & demographics

100,500 dailyus hWy i-91

NORTH HAVEN

NEW YORk

88 MILES

MANHATTAN

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A unique HUMANRESULTS-DRIVEN client experience

THe CaPITal PaCIfIC exPerIeNCe - oUr DaIlY CommITmeNT To oUr ClIeNTs

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BoB saNNerbsanner@capitalpacific .com | (415) 274-2717 CA BRE# 00869657

rICK saNNerrsanner@capitalpacific .com | (415) 274-2709 CA BRE# 01792433

JoHN aNDreINIjandreini@capitalpacific .com | (415) 274-2715 CA BRE# 01440360

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