Representative Photo

OFFERING MEMORANDUM

Absolute NNNTACO BELL Beaufort, SC

Sheree Strome, CCIMAssociate Director404.900.5629 | sstrome@calkain.com

Michael BerkInvestment Sales Associate404.835.7666 | mberk@calkain.com

Investment Highlights

• New construction Taco Bell

• 25-year absolute NNN lease

• No landlord responsibilities

• Across the street from new Walmart Supercenter

• Experienced 9-unit operator with more new locations opening in 2019

Asking Price$2,253,913

Cap Rate 5.75%

226 Sea Island Pkwy | Beaufort, SC 29907

The Asset

Net Operating Income (NOI) $129,600

Rent/Month $10,800

Rentable Square Feet 2,500+/- SF

Tenant Name Taco Bell

Website www.tacobell.com

Credit Rating S&P: BB

Stock Symbol NYSE: YUM

Guarantor Prepared For You, Inc.

Ownership Type Fee Simple

Lease Type Absolute NNN

Landlord Responsibilities None

Store Opens January 2019

Lease Term Remaining 25 Years

Rent Commencement January 2019

Lease Expiration December 2044

Increases Open to Negotiation

Options Open to Negotiation

About Beaufort, SC

Beaufort is a city on Port Royal Island, one of South Carolina’s coastal Sea Islands. It’s known for its antebellum mansions, especially in the downtown historic district. A notable example is the John Mark Verdier House Museum, an early-1800s Federal-style mansion, with period furniture and exhibits on area history. Henry C. Chambers Waterfront Park overlooks the Beaufort River and the Woods Memorial Bridge.

Calkain Companies | 2

Taco Bell | Financial Summary

About Prepared For You, Inc. (Guarantor)Franchisee is a 9-unit operator and growing. The guarantee on the lease includes these 9-units as well as a cross collateralization from another company owned by the Franchisee. Contact brokers for more details.

Tenant SnapshotTenant Snapshot

# of Locations

7,000+

Stock Symbol

NYSE: YUM

Serving Customers

2Bil+ Annually

2017 Revenue

$1.88Bil

Market Cap

$22.06Bil

About Taco BellTaco Bell Corp., a subsidiary of Yum! Brands, Inc., (NYSE: YUM), is the nation’s leading Mexican-inspired quick service restaurant. Taco Bell serves made-to-order and customizable tacos and burritos, among other choices, and is the first QSR restaurant to offer American Vegetarian Association - certified menu items. Taco Bell and its more than 350 franchise organizations proudly serve over 42 million customers each week through nearly 7,000 restaurants across the nation, as well as through its mobile, desktop and delivery ordering services.

As the leading Mexican-inspired quick service restaurant brand, Taco Bell plans to have 8,000 restaurants by the year 2023 which they anticipate will add an estimated 100,000 jobs nationwide.

Calkain Companies | 3

Tenant Overview

Hollywood

Charleston, SC

Beaufort, SC

Hilton Head Island, SC

Savannah, GA

95

95

95

21

Hilton Head Island, SC 36 miles

Savannah, GA 44 miles

Charleston, SC 73 miles

Augusta, GA 118 miles

Subject Site

Calkain Companies | 4

Location Overview

Distance To

Keep all map content (except background) above this margin for website cropping purposes

Location Highlights

Across from New Walmart

18,000 VPD Pass the Site

Average HH Income $95,816 w/ 1 mile

Subject Site

Sea Island Pkwy 18,000 VPD

Lady

s Isla

nd D

r 20,0

00 VP

D

Beaufort CountyAirport

Lady’s IslandMiddle School

Beaufort High School

226 Sea Island Pkwy | Beaufort, SC 29907

1 Mile 3 Miles 5 MilesPopulation2018 Population 1,213 10,383 35,357

2023 Population 1,342 11,389 38,027

2018 Median Age 41.6 43.6 37.7

Households2018 Total Households 490 4,241 13,915

2023 Total Households 543 4,665 15,085

Median Household Income2018 Median HH Income $68,516 $56,941 $54,344

2023 Median HH Income $78,044 $64,529 $61,286

Average Household Income2018 Average HH Income $95,816 $82,783 $78,166

2023 Average HH Income $108,911 $93,784 $89,553

Population 35,357

Median Age 37.7

Avg HH Income $78,166

Total Businesses 1,595

Total Employees 16,851

Net Worth $107,897

5 Mile Radius | Demographics

Location Overview, 1/3/5 Miles

Calkain Companies | 6

About UsCalkain Companies LLC is a boutique commercial real estate investment banking firm that provides consulting and brokerage services to both private and institutional clientele with a focus on single tenant net lease investments. We pride ourselves on being an innovative leader by providing our clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, debt and equity placement and wealth management.

Calkain has built solid, lasting relationships that have been the cornerstone of how we do business. Calkain approaches each assignment with an eye toward each client’s individual needs. Whether private or institutional investors, Calkain delivers real estate solutions that maximize value while building wealth for all of our clients.

At Calkain, our foresight and innovation are leading the net lease investment industry.

Building a solid foundation for your investment portfolio

calkain.com

Disclaimer: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) 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(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make 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.

$12 Billion in Closed Transactions

$400 Million

in Active Listings

Washington, DC 12930 Worldgate Dr Ste 150 | Herndon, VA Tel: 703.787.4714

Fort Lauderdale 200 SW 1st Ave Ste 880 | Fort Lauderdale, FL Tel: 813.282.6000

Atlanta 111 Village Pkwy, Bldg 2 Ste 202 | Marietta, GA Tel: 404.900.5629

Boston 101 Federal St Ste 1900 | Boston, MA Tel: 617.261.8584

Philadelphia 3477 Corporate Pkwy Ste 100 | Center Valley, PA Tel: 610.410.5410

New York 450 Lexington Ave 4th Fl | New York, NY Tel: 703.787.4714