TAC O B E L L G R O U N D L E A S EW E S T C O LU M B I A , S C

FILE PHOTO - VERY SIMILAR TO COLUMBIA PROTOTYPE

S T E V E H O R V A T H7 0 4 - 3 7 9 - 1 9 8 1h o r v a t h @ b e r k e l e y c a p . c o m C A R L B R E N D E S7 0 4 - 7 1 4 - 2 3 6 3b r e n d e s @ b e r k e l e y c a p . c o m

R A N S O M E F O O S E7 0 4 - 3 7 9 - 1 9 8 5f o o s e @ b e r k e l e y c a p . c o m M E G H A N D A V I D S O N7 0 4 - 7 1 4 - 2 3 7 8d a v i d s o n @ b e r k e l e y c a p . c o m

M I K E L U C I E R7 0 4 - 9 4 3 - 3 1 5 8l u c i e r @ b e r k e l e y c a p . c o m

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T A B L E O F C O N T E N T S

T R A N S A C T I O N T E A M

M A P S 3

O F F E R I N G O V E R V I E W 5

I N V E S T M E N T H I G H L I G H T S 6

A E R I A L S 7

E X T E R I O R R E N D E R I N G S 9

S I T E P L A N 10

M A R K E T O V E R V I E W 11

D E M O G R A P H I C S 13

C O N F I D E N T I A L I T Y 14

SC RE LICENSE NO.: 16917

A U G U S T A R O A D A T D R E H E R R O A D

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A U G U S T A R O A D A T D R E H E R R O A D

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O F F E R I N G O V E R V I E W

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

1-MILE 3-MILE 5-MILE

2022 POP. PROJECTION 5,828 47,706 131,656

2017 POP. ESTIMATE 5,512 45,735 126,171

POP. GROWTH 2000-2017 18.22% 11.35% 11.25%

HH GROWTH 2000-2017 17.94% 12.51% 14.02%

2017 EST. AVG. HH INCOME $45,479 $55,994 $57,376

for detai led demographics, p lease cl ick HERE

T R A F F I C C O U N T S

AADT

AUGUSTA RD/US HWY 1 33,200

DREHER RD 12,800

I-26 82,000

JARVIS KAPLAN BLVD 20,000

*Bell American Group

P R O P E R T Y D E T A I L S

NAME TACO BELL GROUND LEASE NET OPERATING INCOME $82,500

ADDRESS AUGUSTA ROAD AT DREHER ROAD RENT INCREASES 10% EVERY 5 YEARS

MARKET WEST COLUMBIA, SC 29169 RENT COMMENCEMENT EXPECTED OCTOBER 30, 2017

BUILDING SIZE 2,053 SF RENT EXPIRATION EXPECTED OCTOBER 29, 2037

LAND SIZE 1.17 AC LEASE TYPE ABSOLUTE NET GROUND LEASE

PARKING 49 SPACES ORIGINAL LEASE TERM 20 YEARS

TENANT BELL CAROLINA, LLC* LEASE TERM REMAINING 20 YEARS

YEAR BUILT 2017 OPTIONS FOUR, 5-YEAR

RIGHT OF FIRST REFUSAL NO ASKING PRICE $1,736,800 (4.75% CAP RATE)

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SECOND LARGEST TACO BELL FRANCHISEEBell Carolina, LLC is a strong subsidary of Bell American Group, which is the second largest Taco Bell franchisee operating 273 restaurants across 8 states. Bell American Group is part of Flynn Restaurant Group which also operates 485 Applebee’s and 96 Paneras and is the largest restaurant franchisee in the US. Taco Bell is the nation’s leading Mexican-inspired quick service restaurant brand. Taco Bell and its more than 350 franchise organizations operate nearly 6,500 restaurants across the United States and proudly serve about 40 million customers every week.

NEW 20 YEAR GROUND LEASE | GOOD RENT GROWTHThe subject Taco Bell ground lease is expected to commence its new 20 year term on October 30, 2017. There are 10% rent increases every five years throughout the initial term and four, 5-year option periods.

SEVERAL HIGHLY TRAFFICKED ROADWAYS INCLUDING I-26 EXIT LO-CATIONTaco Bell will greatly benefit from the number of surrounding roadways intersecting near the property. Four major roadways are all within one-half mile that make up a total of 148,000 VPD with convenient access to Taco Bell. The site will also benefit from exit signage on I-26.

SURROUNDING RETAILConsumers are naturally drawn to the immediate area surrounding Taco Bell as nearby retailers include: Walmart Supercenter, Lowe’s Home Im-provement, Hobby Lobby, Walgreens, Chick-fil-A, BI-LO, Aldi and many others.

PROXIMITY TO DOWNTOWN COLUMBIA & UNIVERSITY OF SOUTH CAROLINATaco Bell is located on U.S. Highway 1 which is an east-west travel route directly through the heart of downtown Columbia and across the city. Center city Columbia and the University of South Carolina are located four miles from the subject Taco Bell. Roughly 33,200 VPD will pass Taco Bell on U.S. Highway 1.

DENSE POPULATIONOver 125,000 people live within five miles of the subject site. Universi-ty students are excluded from general population data. USC has over 44,000 students enrolled in classes, majority of which live throughout the city of Columbia.

LARGE SITE | AMPLE PARKING AND DRIVE-THRU ACCESSUnlike many QSRs including this brand, this site is a larger mostly all usable 1.17 acres with 49 parking spaces and drive-thru. As a practical matter, the shopping center is available for overflow.

VERY GOOD PRICE VERSUS TOTAL COST APPROACHThe tenant has made a major investment in the building, some site work, and soft costs all subordinate to a reasonable rent based only on land value. Therefore, the ground lease owner intrinsically has more price pro-tection and upside relative to total replacement cost. If the tenant does not renew, all the improvements naturally revert back to the ground lease investor who can release to another user at, most likely, a higher rate.

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I N V E S T M E N T H I G H L I G H T S

R E S I D E N T I A L$ 1 0 0 K - $ 2 7 5 K

R E S I D E N T I A L$ 1 0 0 K - $ 3 5 0 K

0 . 3 0 M I F R O M S I T E T O I - 2 6

M I D - R A N G E A E R I A L

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C O L U M B I AW E S T

C O L U M B I A

U N I V E R S I T Y O F S O U T H C A R O L I N A4 4 , 0 0 0 S T U D E N T S

R E S I D E N T I A L$ 1 8 0 K - $ 3 5 0 K

R E S I D E N T I A L$ 2 0 0 K - $ 4 0 0 KR E S I D E N T I A L

$ 1 5 0 K - $ 2 5 0 K

R E S I D E N T I A L$ 1 2 5 K - $ 3 0 0 K

R E S I D E N T I A L$ 2 0 0 K - $ 5 5 0 K

R E S I D E N T I A L$ 1 2 0 K - $ 2 5 0 K

R E S I D E N T I A L$ 2 0 0 K - $ 4 5 0 K

PA L M E T T O H E A LT H R I C H L A N D H O S P I T A L

6 5 0 B E D S

F O R T J A C K S O N4 K A C T I V E D U T Y2 K R E S E R V I S T S

1 5 K F A M I LY & C I V I L I A N S

C O L U M B I A M E T R OA I R P O R T ( C A E )

1 3 5 F L I G H T S / D A Y

P R O V I D E N C E H O S P I T A L3 1 4 B E D S

F O R E S T L A K EC O U N T R Y C L U B

$ 4 5 0 K - $ 1 M M

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O V E R H E A D A E R I A L

F O R T J A C K S O N4 K A C T I V E D U T Y2 K R E S E R V I S T S

1 5 K F A M I LY & C I V I L I A N S

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E X T E R I O R R E N D E R I N G S

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S I T E P L A N

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HIG

HW

AY 1

/ AU

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INTERSECTION OF AUGUSTA RD &

DREHER RD 250 FEET FROM PROPERTY LINE

C O L U M B I A , S O U T H C A R O L I N A

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

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M A R K E T O V E R V I E WCOLUMBIA, SCWith a population of approximately 135,000, Columbia is the capital of and the largest city in South Carolina. Columbia is home to an extremely diverse economy, with major em-ployers including the Palmetto Health hospital system, Blue Cross Blue Shield of South Carolina, Palmetto GBA, the Uni-versity of South Carolina, Computer Science Corporation, Fort Jackson Military Base, Humana/TriCare, and the United Parcel Service. Several notable companies such as First Cit-izens Bank and Colonial Life & Accident Insurance are also headquartered in Columbia. It is less than an hour and a half drive along I-77 from Charlotte, NC; the second largest city in the Southeastern United States.

ECONOMIC DEVELOPMENTIn 2015, Amazon further fortified its position in the area when the online retailer announced plans to add an additional 500 full-time jobs to its 1.25 million square-foot fulfillment center in West Columbia. The facility currently staffs 1,500 local workers. The announcement signals Amazon’s confidence in the region, as well as the company’s anticipation of further growth in the area.

Columbia City Council recently agreed in a vote to issue a $62.5 million bond to pay for site improvement costs in the Columbia Commons development on Bull Street. The devel-opment calls for a makeover of a 90-acre track of land along downtown Columbia’s Bull Street, which was the former site of the South Carolina Mental Hospital. Centered by a brand new minor league baseball stadium, the development will feature a recreational park, as well as retail and office space. The development signals developers’ energized attitudes in the future of downtown Columbia as a place for more than just business.

Major employers in the area also include: Verizon Wireless, Air National Guard, Westinghouse Electric Co. LLC, Wells Fargo Customer Connection, Aflac, and construction group Bonitz Inc.

EDUCATIONColumbia is home to the University of South Carolina’s main campus. With an enrollment of approximately 44,000 stu-dents, the University’s Columbia campus is the largest in the state. The Universi-ty boasts the number one ranked Inter-national Business graduate program in the United States, as well as nationally

ranked hospitality and retail management, sports manage-ment, and business schools, among others. With an endow-ment of more than $596 million, the university sees devel-opment and renovations every semester. In July, Boeing and the university announced a long-term research partnership that its leaders said will produce new and innovative technol-ogies for the aerospace industry.

TRANSPORTATIONColumbia is located near the interchanges between both the I-77/I-20 and I-77/I-26 interchanges. I-26 is the main connec-tor between the port city of Charleston and the rest of the upstate region. I-20 starts in Florence, South Carolina, and is a major east to west interstate stretching from South Caroli-na to Texas. I-77 sees more than 60,000 cars daily and is the major link from Columbia to Charlotte.

FORT JACKSONFort Jackson is the largest and most active Initial Entry Train-ing Center in the U.S. Army with 4,000 active duty and 2,000 reservists (additionally, 15,200 family and civilians). The Fort, encompasses over 52,000 acres east of Columbia, providing training to 50 percent of all the Army’s Basic Combat Training load and 55 percent of all female soldiers entering the Army. The fort has a significant economic impact on the local area. Annual expenditures by Fort Jackson exceed $716.9 million for salaries, utilities, contracts and other services. In addition, over 100,000 family members visit the Midlands area each year to attend basic training graduation activities.

Williams Brice StadiumUniversity of South Carolina Gamecocks

POPULATION 1-MILE % 3-MILE % 5-MILE % 2022 Projection 5,828 47,706 131,656 2017 Estimate 5,512 45,735 126,171 2010 Census 5,154 43,728 120,367 2000 Census 4,662 41,072 113,406 Growth 2017-2022 5.73% 4.31% 4.35% Growth 2010-2017 6.95% 4.59% 4.82% Growth 2000-2010 10.54% 6.47% 6.14%

2017 EST. HOUSEHOLDS BY HOUSEHOLD INCOME 2,497 20,544 53,905 Income < $15,000 478 19.13% 2,820 13.73% 8,494 15.76% Income $15,000 - $24,999 497 19.92% 3,000 14.60% 7,269 13.48% Income $25,000 - $34,999 274 10.98% 2,702 13.15% 6,622 12.29% Income $35,000 - $49,999 318 12.74% 3,091 15.05% 8,054 14.94% Income $50,000 - $74,999 504 20.19% 3,796 18.48% 9,765 18.12% Income $75,000 - $99,999 203 8.12% 2,389 11.63% 5,984 11.10% Income $100,000 - $124,999 149 5.96% 1,377 6.70% 3,577 6.63% Income $125,000 - $149,999 40 1.61% 612 2.98% 1,728 3.21% Income $150,000 - $199,999 24 0.95% 454 2.21% 1,379 2.56% Income $200,000 - $249,999 5 0.19% 151 0.73% 488 0.91% Income $250,000 - $499,999 5 0.20% 125 0.61% 393 0.73% Income $500,000+ 0 0.01% 27 0.13% 153 0.28%2017 EST. AVERAGE HOUSEHOLD INCOME $45,479 $55,994 $57,376

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

Berkeley Capital Advisors, LLC (“BCA”) has been authorized by the owner of the subject property (the “Seller”) to present you with this marketing package. This is a confidential package intended solely for your own limited use and benefit, as a principal, in considering whether you desire to pursue negotiations to acquire the subject property. Your receipt and acceptance of this package serves to acknowledge your agreement to: (1) hold the information and materials contained herein, and the offering they represent, in the strictest of confidence; (2) not disclose, directly or indirectly, the information and materials contained herein, or the offering they rep-resent, to any other person, firm or entity without prior written authorization from BCA or the Seller; (3) not use the information and materials contained herein in any fashion or manner detrimental to the interest of BCA or the Seller; (4) not disturb any tenants in possession of the subject property nor reveal to them the offering this package represents. This marketing package was prepared by BCA and it has been reviewed by representatives of the Seller. The information and materials contained herein are selective and limited in nature, and neither BCA nor the Seller purports this to be an all-inclusive report on the subject property. Within this package, certain leases, documents and other materials are described in summary form. These summa-ries do not purport to be complete nor necessarily accurate descriptions of the full agreements involved, nor do they purport to constitute a legal analysis of the provisions of those documents. Interested and qualified prospective purchasers will be afforded an opportunity to review additional information and to inspect the subject property, and all such prospective purchasers should conduct their own independent due diligence. This package is based in part upon information supplied by the Seller and in part upon information obtained by BCA from sources believed to be reliable. All in-come, expense and/or investment projections contained herein are provided for general reference purposes only, in that they are based on assumptions relating to the general economy, competition and other factors beyond the control of BCA and the Seller, and all such projections are therefore subject to variation. This package shall not be deemed an indication of the state of affairs of the sub-ject property, nor constitute an indication that there has been no change in the business or affairs of the subject property since the date of preparation of this package.

Neither BCA, the Seller, nor any of their respective officers, employees or agents, has made or does make any representation or warranty, expressed or implied, as to the accuracy or completeness of this package or any of its contents, and no legal commitments or obligations shall arise by reason of this package or its contents. BCA and the Seller expressly reserve the right, at their sole discretion, to alter or amend the terms of this offering, to reject any or all expressions of interest or of-fers to acquire the subject property and/or to terminate discussions with any en-

tity at any time with or without notice. The Seller shall have no legal commitment or obligation to any entity reviewing this package or making an offer to acquire the subject property unless and until a written agreement for such acquisition has been fully executed, delivered and approved by the Seller and any conditions to the Seller’s obligations thereunder have been satisfied or waived.

Parties seeking to act in a third-party brokerage capacity must register their cli-ent(s) with BCA prior to receiving or dispersing any marketing information. BCA will not recognize any third-party brokerage relationships without first receiving and approving such written client registration, nor will BCA or the Seller be ob-ligated for any brokerage claims which may result, regardless of such broker’s involvement in procuring a purchaser for the subject property. This package is the property of BCA. Photocopying, re-typing or other dupli-cation of the information and materials contained herein is expressly prohibited. The information contained within this package and the offering of the subject property may not be announced, posted or otherwise publicized in any electron-ic media (such as, by way of example only, any Internet or “broadcast facsimile” communications).

If, after reviewing this package, you have no further interest in acquiring the sub-ject property at this time, please return this package in its entirety to BCA. Like-wise, if the terms contained in this Confidentiality & Disclaimer section are not acceptable to you, please immediately return this package to BCA.

The terms and conditions stated in this Confidentiality & Disclaimer section apply and relate to all of the sections of this package as if stated independently therein.

Prospective purchasers of the subject property are hereby notified that Berkeley Capital Advisors, and its agents, are acting in the capacity of a “Seller’s Agent” during the course of this offering, and as such are solely representing the inter-ests of the Seller.

DESCRIPTION OF AGENT DUTIES AND RELATIONSHIPSBefore you begin working with any real estate agent, you should know who the agent represents in the transaction. Every listing agreement, buyer agen-cy agreement or other agreement for brokerage services in a real estate sales transaction in North Carolina must contain this “Description of Agent Duties and Relationships” [N.C. Real Estate Commission Rule 21 NCAC 58A.0104(c), eff. 7/1/95]. Real estate agents should carefully review this information with you prior to entering into any agency agreement.

AGENT’S DUTIESWhen you contract with a real estate firm to act as your agent in a real estate transaction, the agent must help you obtain the best price and terms possible, whether you are the buyer or seller.

The agent also owes you the duty to: • Safeguard and account for any money handled for you • Act with reasonable skill, care and diligence • Be loyal and follow reasonable and lawful instructions • Disclose to you any information which might influence your decision to buy or sell

Even if the agent does not represent you, the agent must still be fair and hon-est and disclose to you all “material facts” which the agent knows or reasonably should know. A fact is “material” if it relates to defects or other conditions affect-ing the property, or if it may influence your decision to buy or sell. This does not require a seller’s agent to disclose to the buyer the minimum amount the seller will accept, nor does it require a buyer’s agent to disclose to the seller the maxi-mum price the buyer will pay.

AGENTS WORKING WITH SELLERSA seller can enter into a “listing agreement” with a real estate firm authorizing the firm and its agent(s) to represent the seller in finding a buyer for his property. The listing agreement should state what the seller will pay the listing firm for its ser-vices, and it may require the seller to pay the firm no matter who finds the buyer.

The listing firm may belong to a listing service to expose the seller’s property to other agents who are members of the service. Some of those agents may be working with buyers as buyers’ agents; others will be working with buyers but still representing the sellers’ interests as an agent or “subagent”. When the buyer’s agents and seller’s subagents desire to share in the commission the seller pays to the listing firm, the listing agent may share the commission with the seller’s permission.

AGENTS WORKING WITH BUYERSA buyer may contract with an agent or firm to represent him (as a buyer’s agent), or may work with an agent or firm that represents the seller (as a seller’s agent or subagent). All parties in the transaction should find out at the beginning who the agent working with the buyer represents.

If a buyer wants a buyer’s agent to represent him in purchasing a property, the buyer should enter into a “buyer agency agreement” with the agent. The buy-er agency agreement should state how the buyer’s agent will be paid. Unless some other arrangement is made which is satisfactory to the parties, the buyer’s agent will be paid by the buyer. Many buyer agency agreements will also obli-gate the buyer to pay the buyer’s agent no matter who finds the property that the buyer purchases.

A buyer may decide to work with a firm that is acting as agent for the seller (a seller’s agent or subagent). If a buyer does not enter into a buyer agency agree-ment with the firm that shows him properties, that firm and its agents will show the buyer properties as an agent or subagent working on the seller’s behalf. Such a firm represents the seller (not the buyer) and must disclose that fact to the buyer.

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C O N F I D E N T I A L I T Y

A S H E V I L L E138 Charlotte Street, Suite 220Asheville, North Carolina 28801

704.714.2365

C H A R L O T T E1228 East Morehead Street, Suite 200

Charlotte, North Carolina 28204704.379.1980

N A S H V I L L E1510 16th Avenue, Suite 300Nashville, Tennessee 32712

615.970.6596

B E R K E L E Y C A P. C O M