OFFERING MEMORANDUM

Actual Location

5228 North Service Road | St. Peters, Missouri

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INVESTMENT CONTACTS

Actual Location

Will PikeVice ChairmanT +1 404 923 1381will.pike@cbre.com

Chris Bosworth Vice ChairmanT +1 404 923 1486 chris.bosworth@cbre.com

Brian PfohlSenior Vice PresidentT +1 404 504 7893brian.pfohl@cbre.com

Matt MountjoyCapital Markets ManagerT +1 404 504 5939matthew.mountjoy@cbre.com

Thomas CarrCapital Markets AnalystT +1 404 812 5101thomas.carr4@cbre.com

Doug McFaddenCBRE | MO Licenseedoug.mcfadden@cbre.com

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TABLE OF CONTENTS

Investment Overview 4

Investment Highlights 5

Lease Summary 6

Aerial 7

Site Plan 9

Surrounding Uses 10

Tenant Overview 11

Area Overview 12

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INVESTMENT OVERVIEW

The CBRE Net Lease Property Group is pleased to exclusively offer a 1.29-acre parcel ground leased to Outback Steakhouse in St. Peters, MO (Population:

56,000+) a component of the St. Louis MSA (Population: 2.8 Million). Outback Steakhouse’s 15-year ground lease features 10% rent increases every 5 years

during the initial term and in each of the four 5-year renewal options. The property is located with superior visibility from I-70 (Traffic Count: 133,494 VPD),

which provides direct access to Downtown St. Louis (33 miles to the southeast). Outback Steakhouse is situated as an outparcel to a newly developed

270,000-square-foot regional power center called The Shoppes of Mid Rivers, which is anchored by Academy Sports + Outdoors, Burlington, Ross Dress for

Less, Marshalls, HomeGoods and ULTA. Other premier tenants that occupy the shopping center include Five Below, Aspen Dental, Sprint, Carters, Oshkosh

Bigosh, Famous Footwear, Sleep Number, and Blaze Pizza. The property is also positioned within the area’s primary retail and commercial corridor—

highlighted by the 1 MSF Mid Rivers Mall (Anchors: JCPenney, Sears, Dillard’s, Macy’s and includes a total of 5.9 MSF of retail, 8.3 MSF of industrial, 1.4 MSF

of office and 910 multifamily units within a 3 miles radius. Outback Steakhouse is located immediately north of and facing the Mid Rivers Mall which is

immediately across I-70 and is the only regional mall in the county. Other major retailers within the immediate vicinity include Costco, Menards, Value City

Furniture, Bed Bath & Beyond, Big Lots, The Tile Shop, Best Buy, Barnes & Noble, DWS Designer Shoe Warehouse, JOANN Fabrics, Goodwill, Schnucks, ALDI,

NTB, Advance Auto Parts, Sherwin-Williams Paint Store, Party City, Mattress Firm, Verizon, DXL, Pier 1, CVS, Buffalo Wild Wings, Ruby Tuesday, Olive Garden,

McDonald’s, and Wendy’s, among many others. St. Peters is experiencing significant commercial development including the newly developed 265-unit 5300

Centre apartments, 180-unit Meadow Ridge apartments, 143-units Pure apartments, St. Peters Place Retirement Community, Planet Fitness, Cube Smart,

Home 2 Suites, Chick-fil-A, Amazon fulfillment center, FedEx ground center, and Saia LTL Freight, among many others. The area further benefits from upscale

demographic with a population of 51,917 and an average household income of $89,219 within a 3-mile radius.

INVESTMENT SUMMARY

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DEMOGRAPHICS TRAFFIC COUNTS

INVESTMENT HIGHLIGHTS

Premier Casual Dining BrandOutback Steakhouse is a casual steakhouse restaurant focused on steaks, signature flavors, and Australian-inspired decor. The Outback Steakhouse menu offers seasoned and seared or wood-fire grilled steaks, chops, chicken, seafood, pasta, salads, and seasonal specials. As of December 31, 2018, the company had 901 Outback Steakhouse restaurants around the world (671 company-owned and 230 franchised). Outback Steakhouse reported 2018 system-wide sales in excess of $2.48 billion, as of December 31, 2018.

Publicly Traded Parent CompanyBloomin’ Brands, Inc. (NASDAQ: BLMN) is one of the world’s largest casual dining restaurant companies, with approximately 1,500 restaurants throughout 48 states, Puerto Rico, Guam, and 19 countries. The company operates restaurants through a portfolio of leading, differentiated restaurant brands including Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s Prime Steakhouse & Wine Bar. Bloomin’ Brands reported 2018 revenues of $4.12 billion and net income of $109 million, as of December 31, 2018.

New Long-Term Lease with Attractive Rent EscalationsOutback Steakhouse’s new 15-year ground lease features 10% rent increases every 5 years during the initial term and in each of the four 5-year renewal options.

Excellent Access/VisibilityThe property is located with superior visibility from I-70 (Traffic Count: 133,494 VPD), which provides direct access to Downtown St. Louis (33 miles to the southeast).

Strategic LocationOutback Steakhouse is situated as an outparcel to the newly developed 270,000-square-foot regional power center called The Shoppes of Mid Rivers, which is anchored by Academy Sports + Outdoors, Burlington, Ross Dress for Less, Marshalls, HomeGoods and ULTA. Other premier tenants that occupy the shopping center include Five Below, Aspen Dental, Sprint, Carters, Oshkosh Bigosh, Famous Footwear, Sleep Number, and Blaze Pizza.

Primary Retail & Commercial CorridorThe property is also positioned within the area’s primary retail and commercial corridor, which is highlighted by the 1 MSF Mid Rivers Mall (Anchors: JCPenney, Sears, Dillard’s, Macy’s, and includes a total of 5.9 MSF of retail, 8.3 MSF of industrial, 1.4 MSF of office and 910 multifamily units within a 3 miles radius. The Outback Steakhouse is located immediately north of and facing the Mid Rivers Mall which is located immediately across I-70 and is the only regional mall in the county. Other major retailers within the immediate vicinity include Costco, Menards, Value City Furniture, Bed Bath & Beyond, Big Lots, The Tile Shop, Best Buy, Barnes & Noble, DWS Designer Shoe Warehouse, JOANN Fabrics, Goodwill, Schnucks, ALDI, NTB, Advance Auto Parts, Sherwin-Williams Paint Store, Party City, Mattress Firm, Verizon, DXL, Pier 1, CVS, Buffalo Wild Wings, Ruby Tuesday, Olive Garden, McDonald’s, and Wendy’s, among many others.

Surrounding DevelopmentSt. Peters is experiencing significant commercial development including the newly developed 265-unit 5300 Centre apartments, 180-unit Meadow Ridge apartments, 143-units Pure apartments, St. Peters Place Retirement Community, Planet Fitness, Cube Smart, Home 2 Suites, Chick-fil-A, Amazon fulfillment center, FedEx ground center, and Saia LTL Freight, among many others.

Upscale DemographicsThe area benefits from upscale demographic with a population of 51,917 and an average household income of $89,219 within a 3-mile radius.

St. Louis MSA AdvantageSituated on the western bank of the Mississippi River adjacent to the Illinois border, St. Louis, Missouri (MSA Population: 2.8 million) is a major Midwestern metropolis filled with culture, unique city amenities and a flourishing economy. The city benefits from a highly diverse industrial structure, favorable business and living costs, and its central location within the U.S. near major highways and the Mississippi River.

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TENANT

LEASE COMMENCEMENT

LEASE EXPIRATION

LEASE TERM REMAINING

LEASE TYPE

INITIAL TERM RENT

RENT INCREASES

REMAINING RENEWAL OPTIONS

OPTION RENT

OPTION RENT INCREASES

TAXES

INSURANCE

REPAIRS & MAINTENANCE

CAM

LEASE SUMMARY

Actual Location

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SURROUNDING USES

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TENANT OVERVIEW

Outback Steakhouse is a casual steakhouse restaurant focused on steaks, signature flavors, and Australian-inspired decor. The Outback Steakhouse menu offers seasoned and seared or wood-fire grilled steaks, chops, chicken, seafood, pasta, salads, and seasonal specials. The menu also includes several specialty appetizers, including the signature Bloomin’ Onion®, and desserts as well as a full-service bar featuring Australian wine and beer. As of December 31, 2018, the company had 901 Outback Steakhouse restaurants around the world (671 company-owned and 230 franchised). Outback Steakhouse reported 2018 system-wide sales in excess of $2.48 billion, as of December 31, 2018.

Bloomin’ Brands, Inc. (NASDAQ: BLMN) is one of the world’s largest casual dining restaurant companies with approximately 1,500 restaurants throughout 48 states, Puerto Rico, Guam, and 19 countries. The company operates restaurants through a portfolio of leading, differentiated restaurant brands including Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s Prime Steakhouse & Wine Bar. Price points and degree of formality range from casual (Outback Steakhouse and Carrabba’s Italian Grill) to upscale casual (Bonefish Grill) and fine dining (Fleming’s Prime Steakhouse & Wine Bar). Headquartered in Tampa, Florida, Bloomin’ Brands has approximately 93,000 employees. Bloomin’ Brands reported 2018 revenues of $4.12 billion and net income of $109 million, as of December 31, 2018.

Actual Location

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AREA OVERVIEW

St. Peters, Missouri

The City of St. Peters, Missouri provides residents with a quality of life that’s second to none—recognized by Money Magazine twice as one of the Top 100 Best Places to Live in America. Located in St. Charles County, to the northeast of St. Louis County, St. Peters is home to 56,000 people and over 2,500 businesses that provide 27,500+ jobs.

I-70—which provides direct access to Downtown St. Louis (33 miles to the southwest)—passes directly through the city, providing a central location and a major transportation link. An Amazon fulfillment center (opening May 2019) has developed a site in St. Peters, which will initially create more than 1,500 jobs, and is a portion of the Premier 370 development. Premier 370 is a 375-acre development located on Interstate 370, less than one mile from Interstate 70. The development features rail access and is located less than 15 miles from St. Louis Lambert International Airport. The new development can accommodate a wide range of business users, including large-box industrial, office/warehouse, manufacturing, and office campus properties. It is home to more than six million square feet of industrial space on a build-to-suit and speculative basis. Other major occupants of the 370 development

will include a new FedEx Ground Facility, Best Buy, Dayton Freight, Saia, and Reckitt Benckiser. Due to the significant increase in online sales, these major distributors have selected St. Peters as a new hub due to the tax breaks, premier work force, central location, and a robust economy with the ability to support these new facilities. In addition to a large growth in industrial facilities, St. Peters is also seeing other commercial development, including 265 unit 5300 Centre Apartments, 180-unit Meadow Ridge apartments, 143-units Pure apartment, St. Peters Place Retirement Community, Planet Fitness, Cube Smart, Home 2 Suites, Chick-fil-A, Amazon fulfillment center, FedEx ground center, and Saia LTL Freight, among many others.

The city’s economy is expanding significantly and will continue to provide the stability and quality of life that is needed to maintain a prosperous community. Its educated work force, growing economy, advanced business infrastructure, excellent public-school system, and its bustling commercial hub makes St. Peters a great place to live, work and visit.

Rec-Plex in St. Peters

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AREA OVERVIEW

St. Louis, Missouri MSA

Situated on the western bank of the Mississippi River adjacent to the Illinois border, St. Louis (MSA Population: 2.8 Million) is a major Midwestern metropolis filled with culture, unique city amenities and a flourishing economy. The city benefits from a highly diverse industrial structure, favorable business and living costs, and its central location within the U.S. near major highways and the Mississippi River.

Economy

The economy of St. Louis relies on service, manufacturing, trade, transportation of goods, and tourism. The city is home to several major corporations including Express Scripts, Peabody Energy, Ameren, Monsanto, Ralcorp, and Sigma-Aldrich, as well as a large medical and research community. St. Louis has two professional sports teams: the St. Louis Cardinals of Major League Baseball and the St. Louis Blues of the National Hockey League. The city is commonly identified with the 630-foot (192 m.) tall Gateway Arch in downtown St. Louis which is considered a staple of the extravagant city.

Transportation

There are four interstate highways connect the Saint Louis City to a larger regional highway system. Interstate 70, an east-west highway, the north-south Interstate 55 enters the city at the south and runs toward the center of the city, and both Interstate 64 and Interstate 44 enter the city on the west, running parallel to the east. Two of the four interstates (Interstates 55 and 64) merge south of the Jefferson National Expansion Memorial and leave the city on the Poplar Street Bridge into Illinois, while Interstate 44 terminates at Interstate 70 at its new interchange near N Broadway and Cass Ave. Major roadways include the north-south Memorial Drive, located on the western edge of the Jefferson National Expansion Memorial and parallel to Interstate 70, the north-south streets of Grand Boulevard and Jefferson Avenue, both of which run the length of the city, and Gravois Road, which runs from the southeastern portion of the city to downtown and formerly was signed as U.S. Route 66. An east-west roadway that connects the city with surrounding communities is Martin Luther King, Jr. Drive, which carries traffic from the western edge of the city to downtown.

There is also a great subway that runs through Saint Louis allowing for easy access to all parts of the ever growing Saint Louis City. Saint Louis also has a great regional airport called Lambert St. Louis International Airport that allows easy access to different locations all over the globe.

St. Louis Gateway Arch

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AREA OVERVIEW

St. Louis, Missouri MSA

Culture

St. Louis, the largest metropolitan area in Missouri, is a major Midwestern metropolis filled with culture. St. Louis planners have created an aesthetically beautiful city with green space at the street level. It is said that St. Louis is second only to Washington, D.C., in the number of free activities available in an American city. The Gateway Arch, the world’s tallest manmade monument, forms a triumphant city skyline. An open mall surrounded by reflecting pools leads up to the historic court house—the site of the Dred Scott decision—facing the Gateway Arch. Since its inception in 1910, the St. Louis Zoo has been renowned for its beautiful naturalistic exhibits and for its diverse collection of animals from around the world. In fact, the Zoo is home to 655 species of animals, many of them rare and endangered. It is one of the few free zoos in the nation.

St. Louis is truly a city of neighborhoods, each with its own distinct flavor and culture. There are 79 government-designated neighborhoods within the City of St. Louis, many of which have associations and councils that exercise wide control over development and subsidies from the highest to the very lowest local level. Some neighborhoods contain avenues of massive stone mansions built as palaces for heads of state visiting the 1904 World’s Fair, while other neighborhoods have retained their singular cultural identity for 200 years. Today, most of them have endured as strong and cohesive communities for their residents.

TOP EMPLOYERS # OF EMPLOYEES

Source: Moody’s Analytics, 2018

Missouri Botanical Gardens

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CBRE, Inc. operates within a global family of companies with

many subsidiaries and/or related entities (each an “Affiliate”)

engaging in a broad range of commercial real estate businesses

including, but not limited to, brokerage services, property

and facilities management, valuation, investment fund

management and development. At times different Affiliates may

represent various clients with competing interests in the same

transaction. For example, this Memorandum may be received

by our Affiliates, including CBRE Investors, Inc. or Trammell

Crow Company. Those, or other, Affiliates may express an

interest in the property described in this Memorandum (the

“Property”) may submit an offer to purchase the Property

and may be the successful bidder for the Property. You hereby

acknowledge that possibility and agree that neither CBRE,

Inc. nor any involved Affiliate will have any obligation to

disclose to you the involvement of any Affiliate in the sale or

purchase of the Property. In all instances, however, CBRE, Inc.

will act in the best interest of the client(s) it represents in the

transaction described in this Memorandum and will not act in

concert with or otherwise conduct its business in a waythat

benefits any Affiliate to the detriment of any other offeror or

prospective offeror, but rather will conduct its business in a

manner consistent with the law and any fiduciary duties owed

to the client(s) it represents in the transaction described in

this Memorandum.

CONFIDENTIALITY AGREEMENTThis is a confidential Memorandum intended solely for your

limited use and benefit in determining whether you desire to

express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to

the Property and does not purport to be a representation of

the state of affairs of the Property or the owner of the Property

(the “Owner”), to be all-inclusive or to contain all or part of

the information which prospective investors may require to

evaluate a purchase of real property. All financial projections

and information are provided for general reference purposes

only and are based on assumptions relating to the general

economy, market conditions, competition and other factors

beyond the control of the Owner and CBRE, Inc. Therefore, all

projections, assumptions and other information provided and

made herein are subject to material variation. All references

to acreages, square footages, and other measurements are

approximations. Additional information and an opportunity

to inspect the Property will be made available to interested

and qualified prospective purchasers. In this Memorandum,

certain documents, including leases and other materials, are

described in summary form. These summaries do not purport

to be complete nor necessarily accurate descriptions of the

full agreements referenced. Interested parties are expected to

review all such summaries and other documents of whatever

nature independently and not rely on the contents of this

Memorandum in any manner.

Neither the Owner or CBRE, Inc, nor any of their respective

directors, officers, Affiliates or representatives make any

representation or warranty, expressed or implied, as to the

accuracy or completeness of this Memorandum or any of its

contents, and no legal commitment or obligation shall arise

by reason of your receipt of this Memorandum or use of its

contents; and you are to rely solely on your investigations and

inspections of the Property in evaluating a possible purchase

of the real property.

The Owner expressly reserved the right, at its sole discretion,

to reject any or all expressions of interest or offers to purchase

the Property, and/or to terminate discussions with any entity

at any time with or without notice which may arise as a result

of review of this Memorandum. The Owner shall have no

legal commitment or obligation to any entity reviewing this

Memorandum or making an offer to purchase the Property

unless and until written agreement(s) for the purchase of the

Property have been fully executed, delivered and approved

by the Owner and any conditions to the Owner’sobligations

therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this

Memorandum and its contents are of a confidential nature, that

you will hold and treat it in the strictest confidence and that

you will not disclose this Memorandum or any of its contents to

any other entity without the prior written authorization of the

Owner or CBRE, Inc. You also agree that you will not use this

Memorandum or any of its contents in any manner detrimental

to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest

in purchasing the Property, kindly return this Memorandum to

CBRE, Inc.

DISCLAIMER© 2019 CBRE, Inc. The information contained in this document

has been obtained from sources believed reliable. While CBRE,

Inc.does not doubt its accuracy, CBRE, Inc. has not verified it

and makes no guarantee, warranty or representation about it.

It is your responsibility to independently confirm its accuracy

and completeness. Any projections, opinions, assumptions

or estimates used are for example only and do not represent

thecurrent or future performance of the property. The value of

this transaction to you depends on tax and other factors which

should be evaluated by your tax,financial and legal advisors.

You and your advisors should conduct a careful, independent

investigation of the property to determine to your satisfaction

the suitability of the property for your needs.

Photos herein are the property of their respective owners and

use of these images without the express written consent of

the owner is prohibited.

CBRE and the CBRE logo are service marks of CBRE, Inc. and/

or its affiliated or related companies in the United States and

other countries. All other marks displayed on this document

are the property of their respective owners.

Affiliated Business Disclosure & Confidentiality Agreement

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INVESTMENT CONTACTS

Actual Location

Will PikeVice ChairmanT +1 404 923 1381will.pike@cbre.com

Chris Bosworth Vice ChairmanT +1 404 923 1486 chris.bosworth@cbre.com

Brian PfohlSenior Vice PresidentT +1 404 504 7893brian.pfohl@cbre.com

Matt MountjoyCapital Markets ManagerT +1 404 504 5939matthew.mountjoy@cbre.com

Thomas CarrCapital Markets AnalystT +1 404 812 5101thomas.carr4@cbre.com

Doug McFaddenCBRE | MO Licenseedoug.mcfadden@cbre.com