Valrico, FL (Tampa MSA) 6.75% cap rate

Zaxby’s Sale-Leaseback Investment Opportunity

P. 2 of 11

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

2028 State Route 60 Valrico, FL 33594 Table of Contents

Executive Summary

Property Information

Aerial, Map, Demographics & Traffic Counts

Retail Aerial View

Zaxby’s Locations Map

Site Plat

Tenant Overview

Broker Profiles

Confidentiality Agreement

3 4 5 6 7 8 9 10 11

For more information, please contact: Michael Bull, CCIM CEO (404) 876-1640 x 101 Michael@BullRealty.com Nancy Miller, CCIM/MBA SVP, National Net Lease Investment Group (404) 876-1640 x 118 NMiller@BullRealty.com William Jackel VP, National Net Lease Investment Group (404) 876-1640 x 173 WJackel@BullRealty.com Bull Realty, Inc. 50 Glenlake Parkway Suite 600 Atlanta, GA 30328 www.BullRealty.com

P. 3 of 11

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

2028 State Route 60 Valrico, FL 33594 Executive Summary

Bull Realty is pleased to offer this award winning, single tenant, net lease Zaxby’s quick service restaurant in the main retail corridor of Valrico Florida (Tampa MSA). This sale-leaseback features a 15 year NNN term with three 5 year re-newal options with 1% annual rent increases. The sale includes the land and building. This +/- 3,442 sq ft store, built in 2004 on a +/- 0.96 acre corner parcel, is located near the intersection of State Route 60 and N. Valrico Rd in the Tampa-Saint Petersburg MSA. Nearby retailers includes a Publix anchored center, Walmart, Home Depot, Lowe’s, Walgreens, Amscot (cash advance), Ross, Beals, Dollar Tree, LA Fitness, and CVS. Surrounding restaurants include McDonald’s, Hardees, Cracker Barrel, Taco Bell, Burger King, Applebee’s and Chili’s. Within a 3-mile radius, the population is 72,752 with an average household income of $74,821. Offered for SALE at $1,975,000

Highlights

• Rare 15 year NNN sale leaseback opportunity with annual increases and 3 five year options

• This award winning Franchisee, received “Zaggy” award for highest same store sales improvement in FL for 2013 • Attractive 6.75% CAP rate • Signalized hard corner with over 55K vehicles per day • Surrounded by major national retailers

Actual Location

P. 4 of 11

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

2028 State Route 60 Valrico, FL 33594 Property Information

Property Information Subject Property: Single Tenant Property Location: 2028 SR 60

Valrico, FL 33594 Hillsborough County Price: $1,975,000

Rentable Square Feet: +/- 3,442 Price per Square Foot: $573.79

Current Income: $133,312 Cap Rate: 6.75%

Rent/sq ft: $38.73 Year Built: 2004

Lot Size: +/- 0.96 acre Type of Ownership: Fee Simple

Lease Summary Tenant Trade Name: Zaxby’s Tenant: Gator Bait Foods, LLC

Operators of this location since May 2004 Lease Type: NNN

Term: 15 years Renewal Options: Three - 5 year options

Rent Increases: 1% annually

Representative Photo

P. 5 of 11

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

2028 State Route 60 Valrico, FL 33594

Location Map &Aerial Demographics & Traffic Count

2013 Demographics (STDB)

1 mile

Population 11,973

Households 4,550

Average Household Income $63,997

3 mile

Population 72,752

Households 26,303

Average Household Income $74,821

5 mile

Population 174,017

Households 63,812

Average Household Income $74,263

38,000 VPD 50,500

VPD

TAMPA

PLANT CITY

16,451 VPD

BRANDON

P. 6 of 11

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

2028 State Route 60 Valrico, FL 33594

38,000 VPD

50,500 VPD

16,451 VPD

Retail Aerial View

P. 7 of 11

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

2028 State Route 60 Valrico, FL 33594 Zaxby’s Locations Map

Currently 59 locations in Florida and growing!

P. 8 of 11

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

2028 State Route 60 Valrico, FL 33594 Site Plat

P. 9 of 11

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

2028 State Route 60 Valrico, FL 33594 Tenant Overview

Zaxby’s Zaxby’s was started in 1990 by childhood friends Zach McElroy and Tony Townley. Together they opened their first restaurant in Statesboro, GA and then set up the company headquarters in Athens, GA. The company celebrated opening its 600th location in February 2014 and continues to focus on expansion. Currently Zaxby’s are found in 15 states: Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Texas, Utah, and Virginia. In 2013 and 2014, Zaxby’s ranked as America’s “Most Craveable Fast Casual” by Technomic, a market research firm specializing in the restaurant industry. The most popular menu items include hand-breaded Chicken Fingerz and Traditional or Boneless Wings, smothered in a choice of nine sauces.

About the Franchisee – Gator Bait Foods, Inc. Gator Bait Foods opened and has operated this location since March of 2004. They are the proud recipient of the “Zeggy Award”, given for the largest percentage increase in net sales for all 59 Florida Zaxby’s locations in 2013. Annual store sales are projected to be over $1.7M in 2014. The franchisee has been approved and has plans to build two addi-tional stores in Hillsborough County, FL. The owners and management team of Gator Bait Foods, Inc. include Matt Wortman, Bob Wortman and Jean Howard. The Management Team Matt Wortman - General Manager - Matt began working part-time for a Zaxby’s franchisee in 1997 while attending high school in Winder, GA. Matt’s love affair with the Zaxby’s brand continued after high school, when he began work-ing full time with one of the original Zaxby’s franchisees in Winder, GA. His responsibilities grew to include all aspects of operations, including new store openings. In 2003, Matt decided to open his own Zaxby’s franchise and was ap-proved to open the Valrico store, which was built from the ground up in 2004 and was the first Zaxby’s to be built with steel frame rather than wood. He has been the GM of this store for over 10 years and has used his dedication and knowledge of the brand to provide award winning results, service and profitability at this location. Bob Wortman – Catering Manager – Bob is also an owner of the franchise. He joined the team in 2013, moving from Atlanta to support the store’s continued growth and future expansion. He works tirelessly and successfully to increase the growth of the catering business and is active in bringing the Zaxby’s brand to the community through advertising and hard work while delivering quality food, service and value. Bob has a Bachelor’s Degree in Health and Physical Fit-ness from Ohio State University. Jean Howard – Business Manager – Jean, the third owner of the franchise, has been actively involved in the financial management and oversight of all aspects of business operations for nearly 10 years. She moved to Florida in 2013 with her husband Bob to be closer to store operations as they implement their plan to identify expansion locations and oversee the building of two new locations in the Tampa Bay area. Jean holds graduate degrees in Education from the University of Georgia and Mercer University.

P. 10 of 11

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

2028 State Route 60 Valrico, FL 33594 Broker Profiles

MICHAEL BULL Michael Bull, CCIM is a commercial real estate writer, nationally syndicated radio show host, real estate advisor and active commercial real estate broker. He has closed over 4billion dollars of sale and lease transactions over his 30 year career. Mr. Bull’s articles have been published nationwide including in the National Real Estate Investor, France Media Publications, Atlanta Journal Constitution, Atlanta Business Chronicle, Multi-Housing News, Shopping Center Business and Nation's Restaurant News. Michael is executive producer and host of the nationally syndicated Commercial Real Estate Show. The popular weekly one hour show began broadcasting in 2010 and today is heard by millions across the country on 40 radio stations, the Liberty Express Network, iTunes, the show web site and select segments and shows are available on YouTube. Michael also produces a video series answering a new commercial real estate related question each business day available on the AskMB playlist on the shows YouTube channel, on the shows web site twitter account @AskMichaelBull. Mr. Bull founded Bull Realty in 1998 with two primary missions, 1) to grow a company of stellar integrity and 2) to provide the best commercial real estate disposition marketing in the nation. The firm is licensed in nine southeast states and is one of the fastest growing commercial brokerage firms in the country. Michael and his brokers provide expert advice and capital markets expertise related to office, retail, industrial, land, apartments, single tenant net lease investment properties, healthcare real estate, senior housing and other specialties. Michael's involvement with professional organizations include CCIM Member, National Association of REALTORS, the Association of Georgia Real Estate Exchangers, the International Council of Shopping Centers, the Real Estate Brokerage Managers Council, Atlanta Leaders Group, Real Estate Group of Atlanta, the Georgia Bankers Association, the Atlanta Press Club, the Atlanta Chamber of Commerce, the Georgia Real Estate Educators Association and the National Association of Real Estate Editors. Michael lives in the Chastain Park area of Atlanta and enjoys spending time with his family, music, basketball and performance boating.

Michael Bull, CCIM CEO (404) 876-1640 x 101 Michael@BullRealty.com Bull Realty, Inc. 50 Glenlake Parkway Suite 600 Atlanta, GA 30328

P. 11 of 11

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

2028 State Route 60 Valrico, FL 33594 Broker Profiles

Nancy Miller, CCIM, MBA SVP | National Net Lease Investment Group (404) 876-1640 x 118 NMiller@BullRealty.com

NANCY MILLER Nancy Miller joined Bull Realty in 2001 after being a client of the firm. She specializes in income producing properties, including single and multi-tenant retail and self storage properties. Her primary focus is on national credit tenant investment properties. Since joining Bull Realty, Nancy has successfully brokered nearly $150M in investment sales. She and the net lease retail team list and sell single tenant properties throughout the US, and are recognized retail net lease industry leaders. They publish a quarterly investor newsletter, a monthly electronic newsletter, periodic retail industry surveys, and contribute to the company’s retail blog. In addition, Nancy periodically appears on the Commercial Real Estate Show, a national weekly radio show hosted and produced in Atlanta by broker Michael Bull. Nancy has held a real estate license for over 25 years and is licensed in several southeastern states. She is a Life Member of the Atlanta Commercial Board of Realtors and a member of the International Council of Shopping Centers (ICSC). She holds the prestigious CCIM designation. She also holds a Bachelor of Arts degree from Tulane University and an MBA from Emory University’s Goizueta Bussiness School.

WILL JACKEL Will Jackel has joined Bull Realty and its National Net Lease Investment Group after playing professional baseball with the Florida Marlins in 2006 and the Philadelphia Phillies from 2007 until 2011. Baseball taught Will the value of preparation and how to persevere through adversity toward a goal. The CCIM trainee will team with 13-year Bull realty veteran broker and Vice President, Nancy Miller. Before joining Bull Realty, Will owned and operated a baseball recruiting service, where he developed his passion for giving back through helping student athletes obtain college scholarships. When not busy using his strong leadership and competitive skills on the baseball diamond to serve his clients, Will enjoys hunting, fishing, hiking and most of all, spending quality time with his two-year-old son.

William Jackel Associate| National Net Lease Investment Group (404) 876-1640 x 173 WJackel@BullRealty.com

P. 12 of 11

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

2028 State Route 60 Valrico, FL 33594

Confidentiality Agreement This Confidentiality Agreement (“Agreement”) is made and agreed to for the benefit of the undersigned party (“Receiving Party”), the owner of the subject property (the “Seller”) and undersigned broker Bull Realty Incorporated (“Broker”). Now therefore in consideration of the privileges granted to Receiving Party with respect to receiving certain confidential information, and other good and valuable consideration, the Receiving Party hereby agrees to the following: I. Confidential Information: Receiving Party will receive confidential information regarding property referred to as 2028 State Route 60, Valrico, FL 33594. Prospect agrees to not disclose to any person that the property may be available for sale or lease, or that discussions or negotiations are taking place concerning the property, n or any terms, conditions, or other facts with respect to the property, including but not limited to tenant information, lease rates, lease expirations, income and expenses, and any such possible purchase, including the status thereof. The term “person” used in this agreement shall be interpreted broadly and shall include, without limitation, any corporation, company, partnership or individual other than parties to which Broker approves in writing. Receiving Party may share information with directors, officers, employees, agents, affiliates, counsel, lending sources, accountants or representatives of Receiving Party that Receiving Party notifies of the requirements of this Agreement. Receiving Party agrees to not contact the property owner, the management, the tenants, the lender, the vendors, the insurers, the employees or the customers of any business at the site. II. Acting as a Principal: Receiving Party hereby warrants that it is acting as a principal only, and not as a broker, regarding this contemplated transaction. Receiving Party acknowledges that Broker is working an agency capacity as representing the Seller only in this transaction and is the only Broker involved in this potential transaction. Receiving Party agrees to not be involved in any arrangement to lease or purchase the property, in whole or in part, as a lender, partner, buyer of the note, buy in foreclosure, buy from bankruptcy court, or in any other manner acquire an investment in, joint venture or control of the property, unless Bull Realty, Incorporated is paid a commission at closing as per separate agreement with Seller. This agreement will expire two years from the date hereof. III. Governing Law This Agreement shall be governed and construed in accordance with the laws of the State of Florida.

Accepted and agreed to this _______ day of ___________________, 2014.

Receiving Party

Signature ___________________________________________________________________

Printed Name _______________________________________________________________

Title _______________________________________________________________________

Company Name _____________________________________________________________

Address ____________________________________________________________________

____________________________________________________________________

Email ______________________________________________________________________

Phone _____________________________________________________________________

Fax ________________________________________________________________________

Broker

Signature ___________________________________________________________________

Printed Name ________________________________________________________________

You may return the executed agreement by fax (678-892-4980) or email.

Bull Realty, Inc.

50 Glenlake Pkwy, Ste 600 Atlanta, GA 30328

Bull Realty FL license# CQ1026029

Michael Bull FL license #BK3165854 Nancy Miller GA license# 126109

Will Jackel GA license #355203

Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.