214.915.8890

BOB MOORHEAD

bob@exp1031.com

JOE CAPUTO

joe@exp1031.com

SUBJECT PROPERTY

property. 10,068+ SF building on 1.28+ acre site.

tenant. TGI Friday’s: 900+ locations in 59 countries. 2012 revenue: $2.7 billion.

lease structure. Absolute NNN Lease. 20-year initial term with (4), 5-year option periods and 10% rent increases every 5-years during initial term & options.

location. TGI Friday’s is located at the intersection of Street Rd (47,219 Cars / Day) and Richelieu Rd (9,343 Cars / Day) in front of Parx Casino and Racing

(formerly Philadelphia Park Racetrack and Casino). Parx Casino and Racing is the largest casino gaming complex in Pennsylvania, featuring 3,500 slot machines,

140 live table games, a poker room with 60 poker tables, live racing and simulcast action, and several dining options and bars. The casino and racing track draw local

visitors as well as interstate visitors to the region. Just 1.6-miles north of the site is the Neshaminy Mall (1,020,000 Square Feet), anchored by Macy’s, Sears,

Boscov’s, and AMC Theatres. The mall features over 120 tenants such as American Eagle Outfitters, Barnes & Noble, Bath & Body Works, Chick-fil-a, Footlocker,

Finish Line, Gap, H&M, Payless Shoe Source, etc. Other notable tenants in the immediate trade area include Walmart, Lowe’s, Target, The Home Depot, Longhorn

Steakhouse, LA fitness, Starbucks, Chipotle, McDonald’s, Wendy’s, Red Robin, Cracker Barrell, Wells Fargo, and many more. East of the site, along Lincoln Hwy

(81,735 Cars / Day), is the Neshaminy Interplex, the premier business park in Bucks County. Bensalem is 20-miles north of Philadelphia, PA.

EXCLUSIVE OFFERING | $3,976,000 – 5.35% CAP

TGI FRIDAY’S

3301 Street Rd, Bensalem, PA

Retail Resource Group, Inc. and EXP Realty Advisors, Inc. (“Agents”) have been engaged

as agents for the sale of the property located at 3301 Street Rd, Bensalem, PA by the

owner of the Property (“Seller”). The Property is being offered for sale in an “as-is, where-

is” condition and Seller and Agents make no representations or warranties as to the

accuracy of the information contained in this Offering Memorandum. The enclosed

materials include highly confidential information and are being furnished solely for the

purpose of review by prospective purchasers of the interest described herein. The enclosed

materials are being provided solely to facilitate the prospective investor’s own due diligence

for which it shall be fully and solely responsible. The material contained herein is based on

information and sources deemed to be reliable, but no representation or warranty, express

or implied, is being made by Agents or Seller or any of their respective representatives,

affiliates, officers, employees, shareholders, partners and directors, as to the accuracy or

completeness of the information contained herein. Summaries contained herein of any

legal or other documents are not intended to be comprehensive statements of the terms of

such documents, but rather only outlines of some of the principal provisions contained

therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy

or completeness of the information contained herein or any other written or oral

communication or information transmitted or made available or any action taken or decision

made by the recipient with respect to the Property. Interested parties are to make their own

investigations, projections and conclusions without reliance upon the material contained

herein. Seller reserves the right, at its sole and absolute discretion, to withdraw the

Property from being marketed for sale at any time and for any reason. Seller and Agents

each expressly reserves the right, at their sole and absolute discretion, to reject any and all

expressions of interest or offers regarding the Property and/or to terminate discussions with

any entity at any time, with or without notice. This offering is made subject to omissions,

correction of errors, change of price or other terms, prior sale or withdrawal from the market

without notice. Agents are not authorized to make any representations or agreements on

behalf of Seller. Seller shall have no legal commitment or obligation to any interested party

reviewing the enclosed materials, performing additional investigation and/or making an offer

to purchase the Property unless and until a binding written agreement for the purchase of

the Property has been fully executed, delivered, and approved by Seller and any conditions

to Seller’s obligations hereunder have been satisfied or waived. By taking possession of

and reviewing the information contained herein, the recipient agrees that (a) the enclosed

materials and their contents are of a highly confidential nature and will be held and treated

in the strictest confidence and shall be returned to Agents or Seller promptly upon request;

and (b) the recipient shall not contact employees or tenants of the Property directly or

indirectly regarding any aspect of the enclosed materials or the Property without the prior

written approval of the Seller or Agents; and (c) no portion of the enclosed materials may be

copied or otherwise reproduced without the prior written authorization of Seller and Agents.

PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW

PAGE 1: COVER

PAGE 2: TABLE OF CONTENTS | DISCLAIMER

PAGE 9: DEMOGRAPHICS

Table of contents | Disclaimer TGI FRIDAY’S

3301 Street Rd, Bensalem, PA

PAGE 4-5: AERIAL PHOTOS

PAGE 6: LOCATION OVERVIEW

PAGE 7-8: LOCATION MAPS

Disclaimer

2

PRICE: $3,976,000

CAP RATE: 5.35%

NET OPERATING INCOME: $212,702

BUILDING AREA: 10,068+ Square Feet

LAND AREA: 1.28+ Acres

YEAR BUILT | REMODELED: 1984 | 2004

OWNERSHIP: Fee Simple Interest

LANDLORD RESPONSIBILITY: None

OCCUPANCY: 100%

Tenant overview

3

Investment overviewTGI FRIDAY’S

3301 Street Rd, Bensalem, PA

TGI Friday’s

Lease overview

Lease Expiration: XX 2034

Current Rent Commencement: XX 2014

Current Lease Term: 20-Yrs, (4) 5-Year Option to Renew

Rent Increases: 10% Every 5 Years In Primary Term & Options

Lease Type: Absolute NNN

Annual Rent (Current): $212,702

Annual Rent Years 6-10: $233,971

Annual Rent Years 11-15: $257,368

Annual Rent Years 16-20: $283,105

(Option 1 | Years 21-25): $311,416

(Option 2 | Years 26-30): $342,557

(Option 3 | Years 31-35): $376,813

(Option 4 | Years 36-40): $414,494

TGI FRIDAY’S | www.tgifridays.com

TGI Friday’s Inc., aka “Friday’s,” is arguably the most recognized chain in the casual dining sector in North America. Friday’s was founded in 1965 with one

restaurant in New York City. The company has since grown to generate well over $2.7 billion dollars in annual revenues thru 900+ restaurants in 59 countries and

49 states. TGIF is being acquired by Sentinel Capital Partners and Tri-Artisan Capital Partners.

Sentinel Capital Partners was founded in 1995 and is headquartered in New York City. Sentinel has $2.6 billion of equity capital under management and $1.5

billion available for immediate investment. Sentinel is the target niche market leader in eight sectors: Aerospace/Defense, Business Services, Consumer,

Distribution, Food/Restaurants, Franchising, Healthcare, and Industrial/Manufacturing.

TriArtisan Capital Partners, LLC is headquartered in New York City with offices in San Francisco and Stamford, CT and operates as an investment arm of Morgan

Joseph TriArtisan Group Inc. Tri-Artisan Capital Partners, LLC primarily invests in consumer and retail, industrial, healthcare, media and telecommunication,

leisure, real estate, gaming, lodging, hospitality, and diversified service sector companies. Within consumer and retail sector the firm seeks to invest in consumer

products, food, beverage and agribusiness, department stores, mass merchants, luxury goods, apparel, specialty retail, and restaurants. TriArtisan has over

$81billion of completed transactions since June 2001, over 280 completed M&A transactions/restructuring assignment, and over 100 completed financings,

including private equity and debt placements.

4

Aerial photoTGI FRIDAY’S

3301 Street Rd, Bensalem, PA

Samuel K Faust

Elementary School

Distribution

Center

Bensalem

Township

Community

Park

5

Aerial photoTGI FRIDAY’S

3301 Street Rd, Bensalem, PA

Samuel K Faust

Elementary School

6

Location overviewTGI FRIDAY’S

3301 Street Rd, Bensalem, PA

IMMEDIATE TRADE AREA

TGI Friday’s is located at the intersection of Street Rd (47,219 Cars / Day) and

Richelieu Rd (9,343 Cars / Day) in front of Parx Casino and Racing (formerly

Philadelphia Park Racetrack and Casino). Parx Casino and Racing is the

largest casino gaming complex in Pennsylvania, featuring 3,500 slot machines,

140 live table games, a poker room with 60 poker tables, live racing and

simulcast action, and several dining options and bars. The casino and racing

track draw local visitors as well as interstate visitors to the region.

Just 1.6-miles north of the site is the Neshaminy Mall (1,020,000 Square Feet),

anchored by Macy’s, Sears, Boscov’s, and AMC Theatres. The mall features

over 120 tenants such as American Eagle Outfitters, Barnes & Noble, Bath &

Body Works, Chick-fil-a, Footlocker, Finish Line, Gap, H&M, Payless Shoe

Source, etc. Other notable tenants in the immediate trade area include

Walmart, Lowe’s, Target, The Home Depot, Longhorn Steakhouse, LA fitness,

Starbucks, Chipotle, McDonald’s, Wendy’s, Red Robin, Cracker Barrell, Wells

Fargo, and many more.

East of the site, along Lincoln Hwy (81,735 Cars / Day), is the Neshaminy

Interplex, the premier business park in Bucks County. A 274-room Radisson

Hotel is located on the grounds and the Interplex features on-site amenities

such as a child care center, travel agency, car rental & limousine service,

health club, and outdoor exercise trail.

BENSALEM, PA

Bensalem Township is a township in Bucks County, Pennsylvania, United

States which borders the northeast section of Philadelphia. The township is

composed of many communities, including Bensalem, Trevose, Oakford,

Cornwells Heights, Eddington, and Andalusia. As of the 2010 census, the

township had a total population of 60,427, which makes it the largest

municipality in Bucks County, and the ninth largest in Pennsylvania. The

township, which was founded in 1692, is almost as old as Pennsylvania itself,

which was founded in 1682. With direct access to Lincoln Highway and

Interstate 276, the region is easily accessible to interstate and local travelers.

The Pennsylvania Turnpike is a controlled-access highway, running for 360

miles across the state, while Lincoln Highway is an east-west transcontinental

highway spanning over 3,100 miles.

PHILADELPHIA-CAMDEN-WILMINGTON, MSA

The Philadelphia MSA encompasses 11 counties in four states and covers

nearly 5,000 square miles. The Delaware River bisects the metropolis from

northeast to southwest and serves as the border between Pennsylvania and

New Jersey. The Schuylkill River passes through the heart of Philadelphia,

separating West Philadelphia from Center City. With the city bounded by rivers,

development activity occurs mostly in the surrounding areas.

The Philadelphia-Camden-Wilmington MSA contains nearly 6 million residents

and spans Philadelphia, Delaware, Bucks, Chester and Montgomery counties

in Pennsylvania; Gloucester, Burlington, Camden and Salem counties in

New Jersey; New Castle County in Delaware; and Cecil County in Maryland.

Although the MSA has over 360 municipalities, only a few have populations

greater than 25,000.

Philadelphians have access to a wide variety of transportation methods.

Interstate 95 connects Philadelphia to both New York City and Washington,

D.C. Interstate 76 links the city to Pittsburgh and Cleveland and also serves as

the primary commuting artery between Center City and the northwestern

suburbs. Interstates 276, 476, 495 and 295 form a beltway around the MSA.

Philadelphia International Airport recently received FAA approval for a $5.2

billion expansion to extend two runways, add a fifth runway, and overhaul it’s

congested layout.

Philadelphia's GMP, retail sales, and employment have all rebounded since the

recession. Robust job growth of 2.1 percent annually is projected through 2016.

GMP growth is expected to average more than 2 percent annually over the

next two years. Philadelphia is home to 13 Fortune 500 companies that operate

across a broad spectrum of industries, including finance, petroleum,

communications and packaging materials. The local economy is also

increasingly supported by high-growth sectors. The region is now an important

pharmaceutical hub, and its rapidly expanding biotechnology segment will drive

much of Philadelphia’s economic growth over the next 10 years. Philadelphia is

the home of the Federal Reserve’s third district, which, along with the U.S.

Mint, the Philadelphia Stock Exchange and companies such as Lincoln

Financial Group, helps shape a formidable financial sector.

7

Location mapTGI FRIDAY’S

3301 Street Rd, Bensalem, PA

8

Location mapTGI FRIDAY’S

3301 Street Rd, Bensalem, PA

9

DemographicsTGI FRIDAY’S

3301 Street Rd, Bensalem, PA

Radius 1 Mile 3 Mile 5 Mile

Population:

2019 Projection 4,773 106,009 267,115

2014 Estimate 4,778 104,833 264,414

2010 Census 4,860 104,679 265,817

Growth 2014-2019 -0.10% 1.12% 1.02%

Growth 2010-2014 -1.69% 0.15% -0.53%

Daytime Population:

Total Businesses 2014 427 4,169 11,088

Total Employees 2014 7,325 62,450 141,595

Adj. Daytime Age 16 or Over 2014 10,040 94,200 223,048

Households:

2019 Projection 1,972 40,398 102,425

2014 Estimate 1,980 39,972 101,397

2010 Census 2,030 39,991 102,079

Growth 2014 - 2019 -0.40% 1.07% 1.01%

Growth 2010 - 2014 -5.34% -1.08% -0.80%

Owner Occupied 826 27,381 70,621

Renter Occupied 1,153 12,590 30,776

2014 Avg Household Income $52,994 $76,728 $77,339

2014 Med Household Income $41,065 $63,490 $62,288

2014 Households by Household Inc:

<$25,000 663 7,529 18,547

$25,000 - $50,000 569 8,081 21,430

$50,000 - $75,000 305 7,762 19,974

$75,000 - $100,000 242 6,429 15,356

$100,000 - $125,000 83 4,068 9,862

$125,000 - $150,000 28 2,440 6,735

$150,000 - $200,000 54 2,427 5,875

$200,000+ 36 1,237 3,619

DOWNTOWN PHILADELPHIA, PHILADELPHIA, PA

LINCOLN FINANCIAL FIELD, PHILADELPHIA, PA

Demographic snapshot