CIRE PartnersCOMMERCIAL INVESTMENT REAL ESTATE

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Investment Offering - Single Tenant 2421 S Hamilton Road | Columbus, OH 43232

For more information contact: Jimmy Gee, Vice President of Investments (858) 367-5903Kian Bardikalaie, Investment Associate (619) 727-2096

Confidentiality & Disclaimer The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended only to be reviewed by the party receiving it from CIRE Brokerage Services Inc. dba CIRE Partners (hereafter “CIRE Partners”) and should not be made available to any other person or entity without the written consent of CIRE Partners. 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. CIRE Partners has not made any 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 regulators, 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, CIRE Partners has not verified, and will not verify, any of the information contained herein, nor has CIRE Partners conducted any investigation regarding theses 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. This is not an appraisal. Please consult your CIRE Partners agent for more details. The information contained herein was obtained from sources believed reliable, however, CIRE Partners makes no guaranties, warranties or representations as to the completeness thereof. This document has been prepared by CIRE Partners for advertising and general information only. CIRE Partners excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.

Investment Offering - Single Tenant 2421 S Hamilton Road | Columbus, OH 43232

Jimmy Gee, Vice President of Investments(858) 367.5903 main jgee@CIREpartners.com CA BRE #01482564

For more information contact:

Exclusively Listed in Association with: Continental Real Estate Group Ohio License # BRKP.2011000022 tabl

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Kian Bardikalaie, Investment Associate(619) 727-2096 main kian@CIREpartners.com CA BRE #02020456

701 Main Street | Maysville, NC

CIRE Partners is pleased to present a single-tenant net leased investment offering consisting of the fee-simple interest in a freestanding Taco Bell (the "Property" or "Asset") located in Columbus, Ohio. The Property is occupied by a Taco Bell franchisee since 1982, and currently subject to 21-year initial lease term with four, 5-year renewal options. The lease also features 10% rental increases every 5 years throughout the initial term and renewal periods. The Property is situated at a signalized intersection along a major thoroughfare, South Hamilton Road, which experiences above-average traffic exposure to over 39,000 VPD.

This Offering represents an excellent opportunity for qualified investors to acquire a desirable asset leased to a nationally recognized quick service restaurant brand with favorable site characteristics and located in a major U.S. metropolitan market. Home to Ohio State University Columbus, Ohio recently became the 2nd largest populous city in the Midwestern U.S., behind only Chicago, Illinois. Columbus (city limits only) has grown 9.3 percent, from 787,033 residents in 2010 to 860,090 in 2016. Between 2011 and 2016, private employment in Ohio increased by 450,000 jobs, far outperforming the regional average of 261,000 jobs.

property snapshot

pricing summaryPurchase Price $1,840,000NOI $101,160CAP Rate 5.50%Lease Term ±4 Years remaining

2421 S Hamilton Road | Columbus, OHBuilt in 1979 / Rebuilt in 2011±2,968 SF Situated on 0.61 AcresSingle Tenant Net Leased - RetailFee-Simple Ownership

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executive summarypage 3

2421 S Hamilton Road | Columbus, OH

investment highlights• Proven Location; the Property has successfully operated as a Taco Bell for

35+ years. At the Tenant's sole cost, the site was completely rebuilt in 2011 to meet Taco Bell's current prototype standards

• Leading Taco Bell Franchisee; tenant is one of the largest & most successful YUM! Brand multi-unit operators in the U.S. with over 210 restaurants nationwide

• Outstanding Visibility & Position; the site is situated at a major signalized intersection between I-70 and I-270 with excellent exposure to a highly traveled thoroughfare (Hamilton Road, ±39k VPD; 2016)

• Ideal Absolute NNN Lease Structure for passive investors; no landlord responsibilities

investment overview

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Address 2421 S Hamilton Road | Columbus, OHAPN 010-020077Square Footage ±2,968 SFYear Built 1979/Rebuilt in 2011Parking ±24 SpacesAmenities Drive-Thru & Pylon SignageOwnership Type Absolute NNNOriginal Lease Term 21 YearsTraffic Counts S Hamilton & Groves Rd ±39,574 AADT

S Hamilton & Rt 70 ±100,000 AADT

Year(s) Dates Annual Rent Monthly Rent Rent / SF CAP Rate

Current Current—12/31/21 $101,160 $8,430 $34.08 5.50%

Option 1 1/1/22—12/31/26 $111,276 $9,273 $37.49 6.04%

Option 2 1/1/27—12/31/31 $122,400 $10,200 $41.23 6.65%

Option 3 1/1/32—12/31/36 $134,640 $11,220 $45.36 7.31%

Option 4 1/1/37—12/31/41 $148,104 $12,342 $49.90 8.04%

property descriptionpage 4

lease abstractTenant Pacific Bells (dba Taco Bell)Lease Commencement 12/31/2000 Lease Expiration 12/31/2021Renewal Option Four (4) - 5 YearRent Increases Fixed 10%Lease Type Absolute NNNCurrent Annual Rent $101,160Roof & Structure Tenant ResponsibleROFR Yes, Within 10 days

2421 S Hamilton Road | Columbus, OH

location map

John Glenn Columbus International Airport

property descriptionpage 5

2017 demographics1 miles 3 miles 5 miles

Total Population 11,833 104,070 235,523

Total Households 5,117 43,562 97,179

Average Household Income $33,216 $50,479 $57,329

Population growth (2017-2022) 6.86% 6.61% 6.30%

2421 S Hamilton Road | Columbus, OH

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2421 S Hamilton Road | Columbus, OH

property descriptionpage 7

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property site plan

2421 S Hamilton Road | Columbus, OH

Columbus, OHAs one of the largest cities in Ohio, as well as the capital, Columbus has an active nightlife, booming businesses, and quaint neighborhoods. In Columbus proper, there are over 700,000 residents, but combine the surrounding suburbs, and the population exceeds 1 million. Notable towns surrounding Columbus, and all less than an hour's drive, are Delaware to the north, Newark to the east, and Lancaster and Circleville to the south.

You can access Columbus from other Ohio metro locations, Cleveland and Cincinnati on I-71, and U.S. 23 runs north/south through the city. The Port Columbus International Airport is located on the east side of Columbus just within I-270 and only 6 miles from downtown. The airport is served by 23 airlines providing service to major destinations across the nation.

The Ohio Capital Square Complex is located in the heart of downtown Columbus, and just down the street is the Franklin Park Conservatory with 28 acres of English gardens and rare flora. One of a kind restaurants and bars abound in the downtown area, especially in charming German Village, an old-world neighborhood with book and coffee shops, restaurants and bars. Columbus is host to craft shows, antique markets and arts festivals with events lasting from March through November.

Columbus has an art museum, a symphony, a conservatory and botanical gardens, a popular zoo, and one of the largest universities, Ohio State; which always draws large crowds for sports and other university related events. For the outdoor enthusiast, there are several state parks on the outskirts of the city, including Madison Lake State Park, Alum Creek State Park and Delaware Lake State Park. Golfing at one of the many courses around Columbus and its neighboring towns is a popular pastime as well as cycling on the Olentangy-Scioto Bikeway or along the 52-mile Dublin Bicycle Loop. Source: www.go-ohio.com/Columbus

ColumbusOHIO

market informationpage 8

market overview

2421 S Hamilton Road | Columbus, OH

tenant profilespage 9

tenant profile

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In 1989, two businessmen—Tom Cook and Dennis January—formed a partnership corporation, Pacific Bells, Inc., to build and operate Taco Bell restaurants in the Pacific Northwest. Dennis had just opened his first Taco Bell restaurant in Tualatin, Oregon and they were eager to expand.

Tom had been with Taco Bell for 10 years, starting as a fry cook, then shift manager, restaurant manager, district manager, area manager at the corporate offices in Irvine, CA and finally working as a Franchise Consultant in the Washington/Oregon region.

Starting with that first restaurant in Tualatin, the company has grown to 210 restaurants operating in eight states (Alabama, California, Mississippi, Ohio, Oregon, Tennessee, Washington and Wisconsin)—with a view toward continued growth. Pacific Bells is a franchisee of YUM! Brands. YUM! Brands operate Taco Bell, Pizza Hut, KFC, Long John Silver’s and A & W concepts. Since 2006, Pacific Bells has focused primarily on operating Taco Bells, with 2 Taco Bell / Pizza Hut Express “2 in1” units. The Franchise are part of the “Big 12”, comprised of the 12 largest Taco Bell franchises in the United States.

Pacific Bells mission is “to be a family of great people serving great food to people of the world.” Pacific Bells believes in giving guests tremendous value, the highest quality and unsurpassed service. The Franchise knows that hiring the best managers and team members will enable us to meet our guests’ high expectations.

Pacific Bells know that properly training and developing our people is critical to their success, and our growth. Pacific Bells believe in providing our employees with a challenging and fun work environment.

Pacific Bells attribute their success to the hard work and dedication of their people. While products, prices, and other value programs may brinzg customers to Taco Bell in the first place, it's their people who ultimately give them a reason to return.Source: www.pacificbells.com

Year Founded 1989

Headquarters Vancouver, WA

Website PacificBells.com

Number of Locations ±210

Growth in 2017 ±57

Closings in 2016 ±0

Majortiy Owner Partners Group

Partners Group Total Assets ±$68 Billion

2421 S Hamilton Road | Columbus, OH

tenant profilespage 10

company overview

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Taco Bell Corporation is a subsidiary of Yum! Brands, Inc., (NYSE: YUM) which also owns the likes of Pizza Hut and KFC. In 2017 Taco Bell outperformed its siblings under the YUM! Brands, Inc. umbrella by boasting an overall robust 8% same store sales increase (Stores open more than a year), surpassing its initial projection of 3.7% growth during the fiscal year.

The founder of Taco Bell, Glen Bell, started with a hot dog stand in San Bernardino, California in 1946. After experimenting with alternative food items, he opened three Taco-Tia stands (his initial attempts were named for his daughter) between 1954 and 1955, which he later sold to his partners. He then opened the first Taco Bell in Downey, California on March 21, 1962. Glenn Bell would go on to sell Taco Bell to PepsiCo in 1978. In October of 1997, PepsiCo announced a spin-off of its three franchises --KFC, Pizza Hut, and Taco Bell --which combined them into one new publicly owned company, Tricon Global Restaurants, Inc. In May of 2002, Tricon Global Restaurants Inc. changes its name to Yum! Brands, Inc..

Since the company’s inception, Taco Bell has led the quick service restaurant industry by offering inventive Mexican inspired burger-alternative foods for customers seeking made to order and customizable tacos, burritos, and specialties such as the exclusive Doritos® Locos Tacos, a gourmet-inspired Cantina Power® Menu and lower calorie Fresco options. Taco Bell’s successful breakfast debut offers portable, iconic items such as the A.M. Crunchwrap, Biscuit Taco, breakfast stacker, and exclusive signature protein-packed Naked Egg Taco.

Taco Bell encourages customers to “Live Más,” both through its food and community outreach programs aimed to give back to their loyal consumers and employees with such programs as their Feed The Beat®music program, the non-profit Taco Bell® Foundation™, their College football inspired Live Mas Student Section®, Taco Bell’s employee Live Mas Scholarship fund, and Video Game sponsorship program Feed the Beta®.

More than 350 franchise organizations (as of 2017 make up roughly 86% of total stores) operate nearly 6,000 restaurants across the United States that proudly serve more than 46+ million customers every week. Taco Bell’s aggressive growth goals have been announced to expand as a system to operate approximately 9,000 stores and aim to create an additional 100,000 new American jobs by 2022. Year Founded 1962

Headquarters Irvine, CAWebsite TA.COTotal Locations ±7,000Franchisee Operated ±86%Parent Company YUM! Brands Inc.Global Sales (2017) 1.42 BillionNYSE: YUM

CIRE PartnersCOMMERCIAL INVESTMENT REAL ESTATE

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