SAN ANTONIO, TEXAS

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SingleTenant___________

ABSOLUTE NNN

INVESTMENTOPPORTUNITY

OUTPARCEL TO

INVESTMENT SUMMARY .........................3

HIGHLIGHTS ..........................................4

PROPERTY DESCRIPTION .......................5

AERIAL VIEW & SITE PLAN .....................6

AREA OVERVIEW .................................. 10

RENT ROLL .......................................... 11

TABLE OF CONTENTS

TABLE OF CONTENTS | 2 RAISING CANE’S | SAN ANTONIO, TEXASRE

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This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.

PATRICK R. LUTHER, CCIM | Managing PrincipalSRS National Net Lease Group610 Newport Center Drive, Suite 400 | Newport Beach, CA 92660DL: 949.698.1115 | M: 480.221.4221

Patrick.Luther@srsre.com | License No. 01209944

MATTHEW MOUSAVI | Managing PrincipalSRS National Net Lease Group610 Newport Center Drive, Suite 400 | Newport Beach, CA 92660DL: 949.698.1116 | M: 714.404.8849

Matthew.Mousavi@srsre.com | License No. 01732226

JOHN TOPPING | Associate3400 Peachtree Road NE, Suite 1100 | Atlanta Georgia 30326DL: 678-420-1384John.Topping@srsre.com | License No. 354999

RYAN JOHNSON | Senior Vice President8343 Douglas Avenue, Suite 200 | Dallas, TX 75225DL: 214.560.3285 Ryan.Johnson@srsre.com | | License No. 525292

EXCLUSIVELY MARKETED BY

JOHN TOPPING| Associate8343 Douglas Avenue, Suite 200 | Dallas, TX 75225DL: 678.420.1384John.Topping@srsre.com | License No. 354999

MARK REEDER | EVP & Market Leader8343 Douglas Avenue, Suite 200 | Dallas, TX 75225DL: 214.560.3251 Mark.Reeder@srsre.com | License No. 318755

KYLE STONIS, CCIM | Senior Vice President3400 Peachtree Road NE, Suite 1100 | Atlanta Georgia 30326DL: 678.420.1393Kyle.Stonis@srsre.com | License No. 73438

INVESTMENT SUMMARY | 3 RAISING CANE’S | SAN ANTONIO, TEXAS

OFFERING

Pricing: $2,700,000Net Operating Income: $135,000Cap Rate: 5.00%Guaranty: CorporateLease Type: Absolute NNNLandlord Responsibilities: None

PROPERTY SPECIFICATIONSRentable Area: 3,575 SFLand Area: 0.92 AcresProperty Address: 17158 La Cantera Pkwy, San Antonio, TX 78257Year Built / Remodeled: 2016Parcel Number: 1237405Ownership: Ground Lease (Land Ownership)

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RAISING CANE’S - SAN ANTONIO, TXSRS National Net Lease Group is offering the opportunity to acquire the ground lease interest (land ownership) in a freestanding, corporate guaranteed, absolute net leased, single tenant, Raising Cane’s located in San Antonio, TX. The Raising Cane’s is strategically positioned as an outparcel to Target at The RIM shopping center (1.8MM SF). The tenant, Raising Cane’s Restaurants, L.L.C., recently signed a brand new 15-year lease, featuring 10% rental increases in year 11 & the first three option periods and 15% increases during the fourth and fifth option periods, which generates steady NOI growth and hedges against inflation.

The Raising Cane’s is ideally located at the signalized, hard corner intersection of Vance Jackson Road & La Cantera Parkway (19,200 VPD) with excellent visibility. Additionally, it is located near Interstate 10 (106,000 VPD) with direct on/off-ramp access. The subject property is an outparcel to Target at The RIM shopping center (1.8MM SF), anchored by many other national/credit ten-ants including Lowe’s, Dick’s Sporting Goods, Nordstrom Rack, PetSmart, TJ Maxx, Cost Plus World Market, and more. The Raising Cane’s is poised to capture market demand at the southern portion of the RIM, an area with a low supply of restaurants. There are more than 135,500 residents with an average household income of $108,000 within 5 miles of the property. Moreover, the trade area is supported by more than 24,200 employees within a 5-mile radius.

HIGHLIGHTS | 4 RAISING CANE’S | SAN ANTONIO, TEXAS

CORPORATE GUARANTEED, LONG-TERM GROUND LEASE WITH RENTAL INCREASES• Brand new 15-year corporate guaranteed lease

• 10% rental increases in year 11 and at the beginning of the first three option periods

• 15% rental increases at the beginning of the fourth and fifth option period

ABSOLUTE NNN LEASE / LAND OWNERSHIP / ZERO RESPONSIBILITIES

• Tenant pays for all CAM, insurance, taxes, and maintains all aspects of the building

• No landlord responsibilities

• Ideal, management-free investment for an out of state, passive investor

OUTPARCEL TO TARGET / WITHIN THE RIM SHOPPING CENTER (1.8MM SF) • Outparcel to Target, Best Buy, Ross Dress For Less, Cost Plus World Market, and more

• The Raising Cane’s is located at the The RIM shopping center anchored by PetSmart, TJ Maxx, Nordstrom Rack, Dick’s Sporting Goods, Lowe’s, Lifetime Fitness, and more

• Near The Shops At La Cantera that is anchored by Macy’s, Dillard’s, Nordstrom, and more

• Excellent strong tenant synergy with high crossover traffic

NEAR UNIVERSITY OF TEXAS, SAN ANTONIO & SIX FLAGS FIESTA TEXAS• Approximately six million attendees visit Six Flags Fiesta Texas annually

• The University of Texas at San Antonio with over 30,000 students is less than 3 miles away

HEAVILY TRAFFICKED TRADE AREA / LOCATED NEAR INTERSTATE 10• Located near Interstate 10 (106,000 VPD) with direct on/off-ramp access

• The combination of education, retail, and attractions draws in a high volume of consumers

DRIVE-THRU BUILDING / HARD CORNER, SIGNALIZED INTERSECTION / PREMIUM LOCATION• Drive-thru feature provides ease and convenience for customers

• On average, drive-thru locations have higher sales than those without

• Brand new building with high quality 2016 construction

• At the signalized, hard corner intersection of La Cantera Parkway & Vance Jackson Road (19,200 VPD) with excellent street frontage, access, and visibility

• Raising Cane’s is poised to capture market demand by catering to consumers shopping at stores along the southern portion of The RIM, an area with limited restaurant options

AFFLUENT TRADE AREA / STRONG DEMOGRAPHICS WITHIN 5 MILES• Over 135,500 residents with an average household income of $108,000

• Over 24,200 employees support the trade area

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PROPERTY DESCRIPTION | 5 RAISING CANE’S | SAN ANTONIO, TEXAS

PROPERTY DESCRIPTION

PARCEL

Parcel: 1175875 Acres: 0.92 Square Feet: 47,912 SF

PROPERTY USE DESCRIPTIONCommercial PAD

ACCESSThere are a total of two access points with one (1) along La Cantera Parkway and one (1) along Vance Jackson Road.

TRAFFIC COUNTSLa Cantera Parkway: .............................................................................................................................19,200Interstate 10: ....................................................................................................................................106,000

IMPROVEMENTSThere is approximately 3,575 SF of existing building area.

PARKINGThere are approximately 52 parking spaces on the owned parcel. The parking ratio is approximately 14.55 per 1,000 SF of leasable area.

YEAR BUILT2016

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AERIAL VIEW | 6 RAISING CANE’S | SAN ANTONIO, TEXAS

AERIAL VIEW | 7 RAISING CANE’S | SAN ANTONIO, TEXAS

SAN ANTONIO

AUSTIN

HOUSTON

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LOCATION MAP | 8 RAISING CANE’S | SAN ANTONIO, TEXAS

2015 Estimated Population1 Mile .......................................... 36,5173 Mile ........................................ 135,497

2015 Average Household Income1 Mile ........................................ $97,1683 Mile ...................................... $107,932

2015 Estimated Total Employees1 Mile .......................................... 39,7583 Mile .......................................... 75,747

SITE PLAN | 9 RAISING CANE’S | SAN ANTONIO, TEXASVane Jackson Rd.La Cantera Pkwy. - 19,200 VPD

Drive Thru

AREA OVERVIEWS | 10 RAISING CANE’S | SAN ANTONIO, TEXAS

DEMOGRAPHICS 1 Mile 3 Miles 5 MilesCITY OF SAN ANTONIOSan Antonio is the 7th most populated city in the United States of America and the 2nd most popu-lated city in the state of Texas, with a population of 1,409,019. San Antonio serves as the seat of Bexar County. It was the fastest growing of the top 10 largest cities in the United States from 2000 to 2010.

San Antonio’s economy is focused primarily within military, health care, government civil service, financial services, oil and gas and tourism sectors. Within the past twenty years, San Antonio has become a significant location for American-based call centers and has added a significant manufactur-ing sector centered around automobiles. San Antonio has a diversified economy with about a $96.8 billion metropolitan Gross Domestic Product. In 2015, San Antonio ranked No. 50 on Forbes’ list of the Best Places for Business and Careers, with a ranking of 15th best market for job growth.

DISTANCE TO POINTS OF INTEREST

1 MILE Six Flags Fiesta Texas

11 MILES San Antonio International Airport

3 MILES University of Texas at San Antonio

14 MILES SeaWorld San Antonio

Adjacent Adjacent Adjacent 1 Mile

2015 Estimated Population 545 36,517 135,4972020 Projected Population 723 41,736 148,4142010 Census Population 15 30,141 122,2462000 Census Population 2 15,223 80,264Projected Annual Growth 2015 to 2020 5.82% 2.71% 1.84%Historical Annual Growth 2010 to 2015 98.24% 3.72% 1.98%

2015 Estimated Households 317 14,649 53,6762020 Projected Households 423 17,073 59,2752010 Census Households 8 11,711 47,6952000 Census Households 1 6,197 30,627Projected Annual Growth 2015 to 2020 5.94% 3.11% 2.00%Historical Annual Growth 2010 to 2015 101.55% 4.36% 2.28%

2015 Estimated White 82.20% 71.56% 77.02%2015 Estimated Black or African American 3.12% 6.88% 4.83%2015 Estimated Asian or Pacific Islander 4.22% 8.49% 6.70%2015 Estimated American Indian or Native Alaskan 0.73% 0.58% 0.50%2015 Estimated Other Races 5.50% 8.19% 7.11%2015 Estimated Hispanic 47.34% 37.42% 40.18%

2015 Estimated Average Household Income $145,597 $97,168 $107,932 2015 Estimated Median Household Income $109,295 $71,806 $80,008 2015 Estimated Per Capita Income $83,058 $40,344 $43,505

2015 Estimated Total Businesses 182 1,691 4,2842015 Estimated Total Employees 4,831 39,758 75,747

RENT ROLL | 11 RAISING CANE’S | SAN ANTONIO, TEXASRE

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Raising Cane’sRaising Cane’s Chicken Fingers is a fast-food restaurant chain founded in Baton Rouge, Louisiana by Todd Graves and Craig Silvey on August 26, 1996. Located mostly in Southern states, about 50 of the restaurants are company owned while the rest are franchised. It offers chicken fingers as its only main course. Its total revenue in 2007 was $97.3 million. Its headquarters remains in Louisiana though the company opened a second restaurant support office in Plano, Texas in 2009.

Tenant Name Square Feet Lease Start Lease End Begin Monthly Annually Recovery Type Options: 5 (5-year)

Raising Cane’s 3,575 TBD 15 Years Current $11,250 $135,000 NNN Option 1: $163,350/Yr

Year 11 $12,375 $148,500 Option 2: $179,685/Yr

Option 3: $197,654/Yr

Option 4: $227,302/Yr

Option 5: $261,397/Yr

(corporate)

FINANCIAL INFORMATIONPrice: ...............................................................................................................$2,700,000Net Operating Income: ......................................................................................... $135,000Cap Rate: .................................................................................................................5.00%Lease Type: ......................................................................................................Absolute NNN

PROPERTY SPECIFICATIONSAddress: .................................................. 17158 LA CANTERA PKWY, SAN ANTONIO, TX 78257Year Built: .................................................................................................................. 2016Land Area: .......................................................................................................... 0.92 AcresParcel Number: ..................................................................................................... 1237405

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