B U F FA LO W I L D W I N G S G R O U N D L E A S E O F F E R I N G 51 DOWLING VILLAGE BLVD. | N. SMITHFIELD, RI | ASKING PRICE $2,000,000 | CAP RATE: 5.5%

PROPERTY OVERVIEW06| PROPERTY OVERVIEW07| AREA MAP 08| AERIALS 09| SITE PLANS

TENANT PROFILE04| TENANT PROFILE

MARKET OVERVIEW12| NORTH SMITHFIELD MARKET OVERVIEW13| DEMOGRAPHICS

14| TERMS OF PRESENTATION CONFIDENTIALITY & DISCLAIMER

Representative photo

ContactMichael Zimmerman

Atlantic Retail Investment Services600 Market St., Suite 300

Chapel Hill, NC 27516919.391.9900

mzimmerman@atlanticretail.com

investmentservices.atlanticretail.com

Michael O’MaraAtlantic Retail Investment Services300 First Avenue, Suite 200Needham, MA 02494617.239.3616momara@atlanticretail.com

investmentservices.atlanticretail.com

TenantProfile

4 TENA

NT P

ROFI

LE

BUFFALO WILD WINGS

T E N A N T P R O F I L E Buffalo Wild Wings® is an established and growing owner, operator, and franchisor of restaurants featuring a variety of boldly-flavored, craveable menu items including wings spun in any of 16 signature sauces or 5 signature seasonings. Buffalo Wild Wings® restaurants have widespread appeal and have won dozens of “Best Wings” and “Best Sports Bar” awards across the country.

The Buffalo Wild Wings brand was founded in 1982 in Columbus, Ohio. In 1991, the franchising program began. In 2003, an initial public offering was completed and the company became publicly-held. As of 2016, there are over 1,190 Buffalo Wild Wings restaurants around the world — including in Mexico, the Philippines, Saudi Arabia and the United Arab Emirates — with intentions of opening 400 restaurants internationally in the next 10 to 12 years. The company has set an annual net earning per share growth goal of 20% to 25% for 2016.

Property Overview

6 PROP

ERTY

OVE

RVIE

W

BUFFALO WILD WINGS

P R O P E R T Y O V E R V I E W

51 DOWLING VILLAGE BLVD. • NORTH SMITHFIELD, RI 02896

PROPERTY HIGHLIGHTS:• PRIME RETAIL

Within Dowling Village premier power center (600K SF, mixed-use development) anchored by Lowe’s, Walmart Supercenter, ALDI Supermarket & Kohl’s—North Smithfield’s largest site for commercial development (trade area of nearly 190K people) featuring cross easements with box tenants & added development potential.

• EXCELLENT LOCATION 20 minutes from Providence (1.7M+ people) & less than 1 hour from Boston; I-295 runs just south of the town with direct access from nearby North Smithfield Expressway.

• SUCCESSFUL, RECOGNIZED TENANT Buffalo Wild Wings has 1,190+ restaurants around the world and has won dozens of “Best Wings” and “Best Sports Bar” awards across the country.

• QUALITY INVESTMENT No landlord responsibilities and fixed 10% rental increases every 5 years throughout base term and options.

• LARGE, DENSE WORKFORCE TRADE AREA Over 95,000 people, with an average household income of $73K+, within five miles of the property.

Name Buffalo Wild WingsAddress 51 Dowling Village BoulevardMarket N. Smithfield (Providence Co.)Sale Price $2,000,000CAP Rate 5.5%Building Size 5,445 square feetLand Size 2.06 acresLease Type GroundExpenses None

Tenant Blazin Wings, Inc. d/b/aBuffalo Wild Wings

Guarantor Buffalo Wild Wings, Inc.Stock Symbol NASDAQ: BWLDWebsite www.buffalowildwings.comNOI $110,000Rent Commencement June 15, 2015Lease Expiration June 30, 2025Lease Term Ten (10) YearsOptions Three (3), Five (5) YearsIncreases 10% every Five (5) Years

RENT INCREASES CAPYears 1–5 $110,000 5.50% Years 6–10 $121,000 6.05%

Option 1Years 11–15 $133,100 6.66%Option 2Years 16–20 $146,410 7.32%Option 3Years 21–25 $161,051 8.05%

7 PROP

ERTY

OVE

RVIE

W

T.F. GREEN AIRPORT

NEARBY ATTRACTIONS

LOCATION MILES

PROVIDENCE, RI 12.6

T.F. GREEN AIRPORT 21.3

BOSTON, MA 57.4

BUFFALO WILD WINGS

A R E A M A P

PROVIDENCE

BOSTON

8 PROP

ERTY

OVE

RVIE

W

BUFFALO WILD WINGS

A E R I A L S

SITESITE

Eddie Dowling Hw

y (146A)

DOWLING VILLAGE

UNDER CONSTRUCTION

9 PROP

ERTY

OVE

RVIE

W

BUFFALO WILD WINGS

S I T E P L A N S

SITESITE

RESIDENTIAL

UNDER CONSTRUCTION

100% PRE-LEASED

10 PROP

ERTY

OVE

RVIE

W

BUFFALO WILD WINGS

S I T E P L A N S

SITESITE

Market Overview

12 MAR

KET

OVER

VIEW

North Smithfield is a town in Providence County, Rhode Island settled as a farming community in 1666 and incorporated into its present form in 1871. The town is comprised of 24.7 square miles nestled in the Blackstone Valley, the oldest industrialized region in the U.S. There is still in existence an abundance of historic houses, sites, landmarks and mills enriched with history to visit. The population was 11,967 at the 2010 census.

North Smithfield is located approximately 15 miles from Rhode Island’s capital and most populous city of Providence, the 3rd-largest city in the New England region. Providence is part of the 37th-largest metropolitan population in the country, with an estimate of over 1.7 million people. Neighboring North Smithfield Expressway offers direct access to major highway Interstate 295 just south of the town.

Located approximately 20 minutes from Rhode Island’s capital and most populous city of Providence (1.7M+ people) & less than 1 hour from Boston

NORTH SMITHFIELD, RHODE ISLAND

BUFFALO WILD WINGS

M A R K ET O V E R V I E W

13 MAR

KET

OVER

VIEWDemographics 1 Mile 3 Miles 5 Miles

2016 Estimated Population 6,966 61,177 95,198

2021 Projected Population 7,117 62,179 96,858

2010 Census Population 6,854 59,137 93,286

2000 Census Population 7,099 60,764 91,710

Projected Annual Growth 2016 to 2021 0.4% 0.3% 0.3%

Historical Annual Growth 2000 to 2016 -0.1% - 0.2%

2016 Estimated Households 2,960 25,755 37,917

2021 Projected Households 3,039 26,309 38,784

2010 Census Households 2,852 24,340 36,362

2000 Census Households 2,913 24,607 35,324

Projected Annual Growth 2016 to 2021 0.5% 0.4% 0.5%

Historical Annual Growth 2000 to 2016 0.1% 0.3% 0.5%

2016 Est. HH Income $200,000 or More 1.7% 2.8% 5.2%

2016 Est. HH Income $150,000 to $199,999 3.9% 3.2% 5.5%

2016 Est. HH Income $100,000 to $149,999 13.1% 12.0% 14.6%

2016 Est. HH Income $75,000 to $99,999 13.0% 11.0% 12.1%

Demographics 1 Mile 3 Miles 5 Miles

2016 Est. HH Income $50,000 to $74,999 16.0% 15.7% 16.0%

2016 Est. HH Income $35,000 to $49,999 15.6% 12.2% 11.0%

2016 Est. HH Income $25,000 to $34,999 13.4% 11.4% 10.4%

2016 Est. HH Income $15,000 to $24,999 8.1% 12.5% 10.3%

2016 Est. HH Income Under $15,000 15.1% 19.1% 14.9%

2016 Est. Average Household Income $62,500 $59,836 $73,212

2016 Est. Median Household Income $48,892 $47,303 $59,616

2016 Est. White 84.0% 81.2% 85.2%

2016 Est. Black 6.0% 6.7% 5.0%

2016 Est. Asian or Pacific Islander 5.5% 5.4% 4.7%

2016 Est. American Indian or Alaska Native 0.2% 0.3% 0.2%

2016 Est. Other Races 4.2% 6.5% 4.9%

2016 Est. Hispanic Population 421 6,831 7,990

2016 Est. Hispanic Population 6.0% 11.2% 8.4%

2021 Proj. Hispanic Population 7.9% 13.0% 10.0%

2010 Hispanic Population 5.3% 10.5% 7.7%

DEMOGRAPHICS OVERVIEWOver 95,000 people, with an average household income of $73K+, within five miles of the property

BUFFALO WILD WINGS

D E M O G R A P H I C S

14

CONFIDENTIALITY & DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Atlantic Retail Investment Services and should not be made available to any other person or entity without the written consent of Atlantic Retail Investment Services. This Marketing Brochure 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. Atlantic Retail Investment Services 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 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 Marketing Brochure has been obtained from sources we believe to be reliable; however, Atlantic Retail Investment Services has not verified, and will not verify, any of the information contained herein, nor has Atlantic Retail Investment Services 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.

B U F FA LO W I L D W I N G S G R O U N D L E A S E O F F E R I N G MICHAEL ZIMMERMAN • 919.391.9901 • MZIMMERMAN@ATLANTICRETAIL.COM • INVESTMENTSERVICES.ATLANTICRETAIL.COM MICHAEL O’MARA • 617.239.3616 • MOMARA@ATLANTICRETAIL.COM