Absolute NNN Ground Lease Investment Opportunity OFFERING MEMORANDUM 9211 U.S. Highway 19 | Port Richey, FL

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Exclusively Marketed By: Sands Investment Group

Sands Investment Group 2701 Ocean Park Boulevard, Suite 140 Santa Monica, CA 90405 844.4.SIG.NNN www.SIGnnn.com

© 2017 Sands Investment Group (SIG). The information contained in this ‘Offering Memorandum,’ has been obtained from sources believed to be reliable. Sands Investment Group does not doubt its accuracy, however, Sands Investment Group makes no guarantee, representation or warranty about the accuracy contained herein. It is the responsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine it’s accuracy and completeness. Any and all projections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no guarantee or assurance these projections, market assumptions and cash flow analysis are subject to change with property and market conditions. Sands Investment Group encourages all potential interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction.

9211 U.S. Highway 19 Port Richey, FL 34668

Dan Hoogesteger Lic. 01376759 310.774.3772 | DIRECT dan@SIGnnn.com

Chris Sands Lic. 01387583 310.870.3282 | DIRECT chris@SIGnnn.com

INVESTMENT SUMMARY Investment Summary Investment Highlights

AREA OVERVIEW Location & Area Map Retail Map City Overview

TENANT Tenant Profile

LEASE ABSTRACT Lease Summary Rent Roll

In Cooperation with: JDS Real Estate Services, Inc. – Lic. # CQ1048764 BOR Jeffery Ashby – Lic. # BK3325924

INVESTMENT SUMMARY

OFFERING SUMMARY

PRICE $1,520,000

CAP 5.35%

NOI $81,338

YEARS REMAINING 10 Years

LEASE GUARANTEE Corporate

PROPERTY SUMMARY

ADDRESS 9211 U.S. Highway 19

Port Richey, FL 34668

COUNTY Pasco

BUILDING AREA 3,183 SF

LAND AREA 37,179 SF

BUILT 1999

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INVESTMENT HIGHLIGHTS HIGHLIGHTS

•  Coastal Florida Location on Prime Retail Arterial

•  Corporate Guarantee - Taco Bell of America, LLC

•  Absolute Triple Net (NNN) Ground Lease - No Landlord Responsibility

•  Operated by Multi-Unit Franchisee with Over 25 Locations

•  Upside Potential – Short Term Billboard Lease with Below Market Rent

•  Outparcel to Gulf View Square Mall With Over 100 Retailers and is Anchored by Best Buy, Dillard’s, ULTA Beauty, Sears and TJ Maxx

•  Strong Retail Corridor: Nearby Retailers Include Toys R Us, hhgregg, Burlington Coat Factory, Ross, Bed Bath & Beyond, Walmart Supercenter and Much More

•  Over 125,000 People Within a 5 Mile Radius

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LOCATION MAP

AERIAL MAP

U.S. Highway 19

RETAIL MAP

US H

ighway 19

Embassy Blvd.

Holiday Hills Blvd.

Ultimate Auto Repair & Performance Center

RETAIL MAP

Holiday Hills Blvd.

Salt Springs Rd

SUBJECT PROPERTY DEMOGRAPHICS

1 Mile 3 Mile 5 Mile

Population 9,114 61,239 125,673

Average Household Income $40,161 $42,318 $46,870

AREA OVERVIEW Street/Cross Road Average Vehicles Per Day

U.S. Hwy 19 66,873

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Port Richey is a city in Pasco County, Florida, United States. It is a suburban city included in the Tampa-St. Petersburg-Clearwater, Florida Metropolitan Statistical Area. The population was 2,699 at the 2015 census. Pasco County is a county located in the U.S. state of Florida. As of the 2015 census, the population was 497,909. Its county seat is Dade City, and its largest city is New Port Richey. The county is named for Samuel Pasco. Tampa–St.Pete–Clearwater Metropolitan Statistical Area (MSA) defined by the United States Census Bureau is Hernando, Hillsborough, Pasco, and Pinellas counties. The population of the Tampa Bay Area is estimated at 2,975,225 people as of 2015. Today, Port Richey remains internally much as it has always been. With an almost explosive growth taking place over the entire surrounding area, it remains a picturesque port for commercial fisherman teeming with serenity and charm. Typical of the traditional values that still hold sway in this unique town is the pride its citizens take in living in a debt free city.

City Overview AREA OVERVIEW

TENANT PROFILE

Taco Bell is the nation’s leading Mexican-inspired quick service restaurant (QSR) brand. We serve made-to-order and customizable tacos and burritos, among other craveable choices, and are the first QSR restaurant to offer American Vegetarian Association (AVA)-certified menu items. Taco Bell and our more than 350 franchise organizations operate nearly 6,500 restaurants across the United States that proudly serve about 40 million customers every week. Pizza Hut is an American restaurant chain and international franchise, known for its Italian-American cuisine menu including pizza and pasta, as well as side dishes and desserts. The company has over 16,000 restaurants in more than 100 countries and is a subsidiary of Yum! Brands, Inc. Yum! Brands, Inc., based in Louisville, Kentucky, has nearly 43,000 restaurants in 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America. The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development. Since their spin-off from PepsiCo in 1997, Yum! Brands has become a truly global company going from approximately 20 percent of profits coming from outside the U.S. to almost 65 percent in 2015. They’re proud to be the worldwide leader in emerging markets with nearly 17,000 restaurants, nearly twice as many as the nearest competition. With about 2.5 restaurants per million people in the top 10 emerging markets, compared to 57 restaurants per million in the U.S., they are on the ground floor of global growth. Their mission is to build the world’s most loved, trusted and fastest growing restaurant brands. They are evolving KFC, Pizza Hut and Taco Bell into iconic, distinctive and relevant global brands. Importantly, they’re extremely proud of their 1.5 million employees around the globe and the unique culture they’ve built, one that’s filled with energy, opportunity, and fun. They believe in their people, trust in their positive intentions, encourage ideas from everyone, and have actively developed a workforce that is diverse in style and background. Yum! Brands is great place to be yourself, grow and make a difference.

COMPANY PROFILES

COMPANY Taco Bell

FOUNDED 1954

# OF LOCATIONS 6,500

REVENUE VOLUME 2015 $1.988 Billion

HEADQUARTERS Irvine, CA

COMPANY Pizza Hut

FOUNDED 1958

# OF LOCATIONS 16,000+

REVENUE VOLUME 2015 $1.145 Billion

HEADQUARTERS Plano, TX

PARENT COMPANY Yum! Brands

PUBLIC COMPANY NYSE: YUM

FOUNDED 1997

SALES VOLUME $13.1 Billion

NET WORTH $33.1 Billion

HEADQUARTERS Louisville, KY

WEBSITE www.yum.com

LEASE ABSTRACT LEASE SUMMARY: Taco Bell / Pizza Hut

TENANT BDE Florida, LLC

LEASE GUARANTEE Taco Bell of America, LLC

PREMISES A Building of Approximately 3,183 SF in Port Richey, FL.

APN: 21-25-16-0030-00400-0080

LEASE COMMENCEMENT 7/17/1996

LEASE EXPIRATION 12/31/2026

LEASE TERM 10 Years Remaining

RENEWAL OPTIONS 2 x 5 Years

RENT INCREASES 10% at Options

LEASE TYPE Absolute Triple Net (NNN)

Ground Lease

USE QSR

PROPERTY TAXES Tenant’s Responsibility

INSURANCE Tenant’s Responsibility

COMMON AREA Tenant’s Responsibility

ROOF & STRUCTURE Tenant’s Responsibility

REPAIRS & MAINTENANCE Tenant’s Responsibility

HVAC Tenant’s Responsibility

UTILITIES Tenant’s Responsibility

RIGHT OF FIRST REFUSAL Yes Actual Property Image

LEASE ABSTRACT

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LEASE SUMMARY: Billboard

TENANT CBS Outdoor, Inc.

LEASE COMMENCEMENT 1/1/1997

LEASE EXPIRATION 12/31/2022

LEASE TERM 6 Years Remaining

RENEWAL OPTIONS None

RENT INCREASES None

USE Signage

REPAIRS & MAINTENANCE Tenant’s Responsibility

*In the event twenty-five (25%) percent of the net income earned by LESSEE for use of the sign(s) located on the structure for any 12-month period beginning January 1st and ending December 31st exceeds the Fixed Rental for such period, LESSEE shall pay to LESSOR the difference between such amounts 2 months following the end of the 12-month period beginning on the commencement date.

RENT ROLL

SIZE ANNUAL RENT LEASE TERM

TENANT NAME SQUARE

FOOTAGE % OF

TOTAL ANNUAL

BASE RENT RENT /

SF % OF

TOTAL INCREASE

DATES RENTAL

INCREASE LEASE BEGIN

LEASE END OPTIONS

BDE Florida, LLC (Guarantee: Taco Bell

of America, LLC) 3,183 SF 100% $79,188 $61.24 100% At Options 10% 7/17/1996 12/31/2026 2 x 5

Years

CBS Outdoor, Inc. (Billboard) N/A N/A $2,150 $3.20 N/A None None 1/1/1997 12/31/2022 None

Total/Avg. 3,183 SF 100% $81,338 $41.39 100%

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The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Sands Investment Group and should not be made available to any other person or entity without the written consent of Sands Investment Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, Sands Investment Group has not verified, and will not verify, any of the information contained herein, nor has Sands Investment Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose its contents in any manner detrimental to the interest of the Owner. You also agree that by accepting this Memorandum you agree to release Sands Investment Group and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.

CONFIDENTIALITY AGREEEMENT

Exclusively Marketed By:

844.4.SIG.NNN | F: 844.328.5905 | WWW.SIGNNN.COM | 2701 OCEAN PARK BLVD, SUITE 140 | SANTA MONICA, CA 90405

Dan Hoogester Lic. 01376759 310.774.3772 | DIRECT dan@SIGnnn.com

Chris Sands Lic. 01387583 310.870.3282 | DIRECT chris@SIGnnn.com

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In Cooperation with: JDS Real Estate Services, Inc. – Lic. # CQ1048764 BOR Jeffery Ashby – Lic. # BK3325924