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G R O U N D L E A S EI N V E S T M E N T

O P P O R T U N I T Y

Wendy’s International, Inc.400 Northland Blvd.

Cincinnati, OH 45240

E V E R E S TOffice Industrial Retail Investment

9912 Carver Road, Suite 100 Cincinnati, OH 45242 TEL: 513-769-2500 www.everestrealestate.com

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Section 2 ........... Property Description

Section 3 ........... Pricing and Financial Analysis

Section 4 ........... Tenant Information

Section 5 ........... Supporting Documentation

Commercial Real Estate513.769.2500

www.everestrealestate.com

Mr. Jeff [email protected]

Mr. Chris [email protected]

Mr. John [email protected]

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RYWendy’s International, Inc.400 Northland Blvd.Cincinnati, OH 45240

The information submitted is not guaranteed. Although obtained from reliable sources, it is not subject to errors, omissions, prior sale and withdrawal from the market without notice.



The Everest Group is pleased to exclusively offer a Wendy’s ground lease situated on 1.307 acres in Cincinnati, Ohio. The property is located on the southwest corner of Northland Blvd and Springfield Pike in Forest Park, Ohio across the street from Walgreens. The traffic count is estimated at 17,699 ADT and serves the highly populated corridor of businesses in retail (10+ million SF), industrial (20.2 million SF) and office (5.9 million SF of office). Tri County Mall and other local businesses in the area: Target, Costco, Lowe' s Home Improvement, hhgregg, Best Buy, Guitar Center, Dave & Busters, Garden Ridge, Sam' s Club, Dick' s Sporting Goods, Michael' s, Chick-Fil-A, Chili' s, DSW, TJ Maxx, Bed Bath & Beyond, Panera bread, Big Lots!, Deals, Office Depot, PetSmart, Party City, World Market, KFC, Hobby Lobby, Jared, AT&T, Verizon, Woodcraft, Value City, Dollar tree, Dairy Queen, CVS, Wells Fargo, Whit Castle, Dunkin' Donuts, Pep Boys, Tuffy, Shell, Sunoco, Mobil, O' Reilly Auto Parts, Walgreens, Wendy' s, Speedway, Maaco, Meineke, Main Street Market, Fifth Third Bank, Ford, Mitsubishi, Huntingdon Bank, Chrysler, Dodge, Jeep, BMW, Chevrolet, Golf Galaxy, Ashley Furniture, Destination XL, Mattress Firm, Uncle Bob' s Storage, U.S. Post Office. This ground lease investment (with 10+ years left on the lease) is an opportunity for a qualified investor to acquire a corporately owned and operated Wendy’s restaurant in the heart of the Forest Park/ Springdale business district. The Wendy's Company is the world's third-largest quick-service hamburger company (6,500 franchise and Company-operated restaurants in the United States and 27 countries.) For more information about the Tenant, visit aboutwendys.com or wendys.com.




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Wendy’s International400 Northland Blvd.Cincinnati, OH 45240

Site DescriptionBuilding Area: 2,887 SF

Land Area: 1.307 acres (on three parcels)

Parcel Numbers: 599-0042-0148-00591-0001-0111-00599-0042-0150-00

Drive Thru: Yes

Parking: 50+ spaces

Topography: Flat

Street Access: Springfield Pike and Northland Blvd.

ConstructionYear Built: 1984

Construction Type: Brick







NNN Ground LeaseInvestment Property

F E AT U R E S2,887 SF Wendy’s RestaurantLot size: 1.307 AcresBuilt in 198410+ years left on leaseTenant: Wendy’s International, Inc.Occupancy 100%Cap rate: 5.5%Sale price: $763,636

L O C A T I O N400 Northland Blvd.Cincinnati, OH 45240

C O N T AC TJeff Wolf, CCIM, [email protected]

513/769-2519

Chris [email protected]

513/769-2509

John [email protected]

513/769-2514

Wendy’sInternational, Inc.

Demographics: 1-mile 3-miles 5-milesTotal Population: 8,530 50,111 152,543Total Households 3,734 20,652 61,872Avg. HH Income: $48,806 $62,966 $65,688

Traffic Count:Northland Blvd. W of Springfield Rd. (SR-4) = 17,699 ADT 2006

The information submitted is not guaranteed. Although obtained from reliable sources, it is subject to errors, omissions, prior sale and withdrawal from the market without notice.

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Pricing & Financial Analysis:

Current Income (1/1/14): 2,887 SF $3,500/month $42,000/year

NNN Ground Lease: Tenant pays for all the expenses, including roof, parking lotand structure. Tenant reimburses owner real estate taxes.

Existing Lease Term: Tenant pays $3,333.33/month ending 12/31/2013.

New Lease Term: Starting January 1, 2014 and termination in June 27, 2024.

Two Renewal Options: First option: Five (5) year term paying $46,200 startingJune 28, 2024.

Second option: Five (5) year term paying $50,820 startingJune 28, 2029.

Lease Notes: Tenant is Wendy’s International Inc.Lease started in 1984.

Sale price: $763,636 ($42,000 x 5.5% Cap Rate)







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NWendy’s International400 Northland Blvd.Cincinnati, OH 45240

Tenant Information:

• Dave Thomas opened the first Wendy’s restaurant in 1969 in Columbus, Ohio. Heopened the door to a new gold standard in quality food.

• The Wendy’s Company (NASDAQ: WEN) is the world’s third largest quick-servicehamburger company. The Wendy’s system includes more than 6,500 franchise andCompany restaurants in the U.S. and 27 other countries and U.S. territories worldwide.

• For more information go to www.wendys.com

Wendy’s Vision Statement:

“When everyday people sort through all the ‘spin’ there is one quick-service restaurant that is‘A Cut Above’… that’s Wendy’s … we stand for honest food … higher quality, fresh, whole-some food … prepared when you order it … prepared by Wendy’s kind of people … peoplethat believe this is My Wendy’s … we do it Dave’s Way … we don’t cut corners.”







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• .................. Maps

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• .................. Demographics







Executive Summary400 Northland Blvd, Cincinnati, OH, 45240 Prepared by Jeff WolfRings: 1, 3, 5 mile radii Latitude: 39.282410271

Longitude: -84.48590103

1 mile 3 miles 5 milesPopulation

2000 Population 8,273 49,808 153,961

2010 Population 8,668 50,431 153,005

2013 Population 8,530 50,111 152,543

2018 Population 8,399 50,015 152,987

2000-2010 Annual Rate 0.47% 0.12% -0.06%

2010-2013 Annual Rate -0.49% -0.20% -0.09%

2013-2018 Annual Rate -0.31% -0.04% 0.06%2013 Male Population 44.9% 47.0% 47.4%2013 Female Population 55.1% 53.0% 52.6%2013 Median Age 40.2 38.6 38.1

In the identified area, the current year population is 152,543. In 2010, the Census count in the area was 153,005. The rate of change since2010 was -0.09% annually. The five-year projection for the population in the area is 152,987 representing a change of 0.06% annually from2013 to 2018. Currently, the population is 47.4% male and 52.6% female.

Median Age

The median age in this area is 38.1, compared to U.S. median age of 37.3.

Race and Ethnicity2013 White Alone 48.9% 48.5% 59.7%

2013 Black Alone 37.6% 40.1% 31.2%2013 American Indian/Alaska Native Alone 0.2% 0.2% 0.2%2013 Asian Alone 3.7% 2.6% 2.5%2013 Pacific Islander Alone 0.2% 0.2% 0.1%2013 Other Race 6.2% 5.2% 3.2%2013 Two or More Races 3.2% 3.2% 3.0%2013 Hispanic Origin (Any Race) 14.1% 10.2% 6.7%

Persons of Hispanic origin represent 6.7% of the population in the identified area compared to 17.4% of the U.S. population. Persons ofHispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be fromdifferent race/ethnic groups, is 60.2 in the identified area, compared to 62.1 for the U.S. as a whole.

Households

2000 Households 3,622 20,308 61,4122010 Households 3,787 20,713 61,7752013 Total Households 3,734 20,652 61,7822018 Total Households 3,684 20,659 62,0582000-2010 Annual Rate 0.45% 0.20% 0.06%2010-2013 Annual Rate -0.43% -0.09% 0.00%2013-2018 Annual Rate -0.27% 0.01% 0.09%2013 Average Household Size 2.24 2.39 2.44

The household count in this area has changed from 61,775 in 2010 to 61,782 in the current year, a change of 0.00% annually. The five-yearprojection of households is 62,058, a change of 0.09% annually from the current year total. Average household size is currently 2.44,compared to 2.45 in the year 2010. The number of families in the current year is 39,637 in the specified area.

October 31, 2013

©2013 Esri Page 1 of 2

Data Note: Income is expressed in current dollarsSource: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2013 and 2018. Esri converted Census 2000 data into 2010 geography.

Executive Summary400 Northland Blvd, Cincinnati, OH, 45240 Prepared by Jeff WolfRings: 1, 3, 5 mile radii Latitude: 39.282410271

Longitude: -84.48590103

1 mile 3 miles 5 milesMedian Household Income

2013 Median Household Income $40,151 $51,442 $51,6722018 Median Household Income $50,348 $58,464 $59,4172013-2018 Annual Rate 4.63% 2.59% 2.83%

Average Household Income

2013 Average Household Income $48,806 $62,966 $65,6882018 Average Household Income $55,842 $72,155 $76,1802013-2018 Annual Rate 2.73% 2.76% 3.01%

Per Capita Income

2013 Per Capita Income $21,910 $26,115 $26,7862018 Per Capita Income $25,092 $29,938 $31,0802013-2018 Annual Rate 2.75% 2.77% 3.02%

Households by Income

Current median household income is $51,672 in the area, compared to $51,314 for all U.S. households. Median household income isprojected to be $59,417 in five years, compared to $59,580 for all U.S. households

Current average household income is $65,688 in this area, compared to $71,842 for all U.S households. Average household income isprojected to be $76,180 in five years, compared to $83,667 for all U.S. households

Current per capita income is $26,786 in the area, compared to the U.S. per capita income of $27,567. The per capita income is projected tobe $31,080 in five years, compared to $32,073 for all U.S. households Housing

2000 Total Housing Units 3,737 21,331 64,4822000 Owner Occupied Housing Units 1,817 12,880 39,5882000 Owner Occupied Housing Units 1,805 7,428 21,8232000 Vacant Housing Units 115 1,023 3,071

2010 Total Housing Units 4,062 22,388 67,5192010 Owner Occupied Housing Units 1,657 12,498 38,1692010 Renter Occupied Housing Units 2,130 8,215 23,6062010 Vacant Housing Units 275 1,675 5,744



Currently, 54.3% of the 67,999 housing units in the area are owner occupied; 36.5%, renter occupied; and 9.1% are vacant. Currently, inthe U.S., 56.4% of the housing units in the area are owner occupied; 32.3% are renter occupied; and 11.3% are vacant. In 2010, therewere 67,519 housing units in the area - 56.5% owner occupied, 35.0% renter occupied, and 8.5% vacant. The annual rate of change inhousing units since 2010 is 0.32%. Median home value in the area is $137,082, compared to a median home value of $177,257 for the U.S.In five years, median value is projected to change by 4.24% annually to $168,715.

October 31, 2013

©2013 Esri Page 2 of 2

Data Note: Income is expressed in current dollarsSource: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2013 and 2018. Esri converted Census 2000 data into 2010 geography.

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