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Franklin Shelton
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1 CLICK FOR DRONE IMAGES O F F E R I N G M E M O R A N D U M Click Image For Online Property Map

DISCLOSURE : All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as FNL ), its directors, officers, agents, advisors, affiliates and/or any

2 DISCLOSURE : All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as FNL ), its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty by FNL its directors, officers, agents, advisors, or affiliates as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither FNL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. FNL will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. ALL PARTIES SHALL CONDUCT THEIR OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE: Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. FNL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. FNL does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by FNL in compliance with all applicable fair housing and equal opportunity laws. E XC LU S I V E LY L I S T E D BY: FRANK ROGERS Senior Associate frogers@fnlre.com ROBERT BENDER & DOUG PASSON Managing Partners Fortis Agents Cooperate Click Here To Meet The Team Why Hire Fortis To Sell Your Property? CLICK HERE Corporate Potbelly Sandwich & Pie Five Pizza Hard Corner Kansas City MSA

3 BAY CITY POINT INVESTMENT SUMMARY List Price: Current Annual Rent: $2,305,000 Net Operating Income $153,300 Asking Cap Rate: 6.65% Average Cap Rate: 6.89% Average NOI $158,515 (Through 2022) Square Footage: 4,000 SF Land Acreage: 0.50 Acres Year Built: 2015 LEASE SUMMARIES Lease Type(s): CAM/ Insurance/Taxes: Structure/ Parking/ Roof: Rent Increases: Lease Guarantors: NNN Tenant Responsibility (Pro-Rata) Landlord Responsibility Yes - See Rent Roll Potbelly - Corporate Pie Five - Corporate INVESTMENT HIGHLIGHTS 100% Occupied Strip Center with National Corporate Tenant Base Constructed in 2015 By Very Well National Development Company Leases Feature Rent Increases Scheduled For 2019/2020 Brand New Natural Grocers Shadows the Investment Property INVESTMENT HIGHLIGHTS Population With In a Five Mile Radius Exceeds 256,000 People Hard Corner Pad to Brand New Constructed Retail Buildings Average Household Income Exceeds $84,200 w/in a 5 Mile Radius Over 35,500 Vehicles Per Day at the Parcel s Intersection Located 8 Miles from Downtown Kansas City Resides Amongst Other National Retailers in Dense Corridor DRONE PROPERTY IMAGES Click HERE for Overhead Satellite Images of Subject Property Click HERE for Street View of Subject Property Tenant Type Sq. Ft. Term Start End PSF Increases Options Annual Rent Potbelly Corporate 2, Yrs. 09/01/15 08/31/ % Every 5 Yrs. Two, Five Year $73,500 Pie Five Corporate 1, Yrs. 09/01/15 10/31/ *4.75% in 2019 Three, Five Year $79,800 TOTAL 4,000 *Contact Broker for Rent Roll $153,300 P O T B E L L Y & P I E F I V E F O R T I S N E T L E A S E

TENANT LINE UP - OVERVIEW Potbelly Sandwich Works is a privately held restaurant chain specializing in submarine sandwiches.

Bryant Keil, the Founding Chairman, is dedicated to preserving the individuality of each shop in an attempt to keep Potbelly from becoming just another fast food chain.

leaders. Based on Technomic estimates, the average Potbelly generates $1.2 million in annual revenue a figure that is twice that of competitors Subway and Jimmy John s.

Pizza Inn Holdings, LLC is the holding company for two food service entities -- including Pizza Inn and Pie Five Pizza Company.

Pie Five was first introduced in Dallas, Texas in 2011 and has grown to more than 31 locations in nine states (Florida, Kansas, Maryland, Missouri, North Carolina, Tennessee,

4 TENANT LINE UP - OVERVIEW Potbelly Sandwich Works is a privately held restaurant chain specializing in submarine sandwiches. Sandwich Works began expanding in 1997 and today has more than 300 shops around the country. Bryant Keil, the Founding Chairman, is dedicated to preserving the individuality of each shop in an attempt to keep Potbelly from becoming just another fast food chain. Bryant was the 2007 Ernst & Young Entrepreneur of the Year Award recipient, and has also been tapped by Crain s Chicago Business as one of its 40 Under 40 young business leaders. Based on Technomic estimates, the average Potbelly generates $1.2 million in annual revenue a figure that is twice that of competitors Subway and Jimmy John s. Potbelly Sandwich Works also rivals its competitors in average store size and is typically much better furnished boasting heavy wooden furniture and faux-antique décor. Pizza Inn Holdings, LLC is the holding company for two food service entities -- including Pizza Inn and Pie Five Pizza Company. Pie Five Pizza offers custom, personal pizzas in less than five minutes. Pie Five was first introduced in Dallas, Texas in 2011 and has grown to more than 31 locations in nine states (Florida, Kansas, Maryland, Missouri, North Carolina, Tennessee, Texas, Utah and Virginia) with more than 400 company-owned and franchise units anticipated in 16 states and Washington, DC. Pie Five has been named a 2013 Top 50 Restaurant Brand of the Year, a 2012 Hot Concepts winner by Nation s Restaurant News and one of 10 Hot New Restaurant Chains from Established Brands by Forbes. com. The CEO, Randy Gier, was named one of the Top 10 Trendsetting Executives in Pizza in 2013 by Pizza Marketplace P O T B E L L Y & P I E F I V E F O R T I S N E T L E A S E

LOCATION OVERVIEW Mission, Kansas (Kansas City) Mission is located in Johnson County, just eight miles from Kansas City, and is a member of the Kansas City

Kansas City, the largest city in the state of Missouri, is the headquarters of dozens of national companies including American Century Investments, AMC Theatres,

Numerous agricultural companies operate out of the city as well, such as Dairy Farmers of America, the largest Dairy Co-op in the country.

ates Government, making the U.S. Government the largest employer in the Kansas City metro area, with more than 146 federal agencies.

and Kansas City Art Institute among others.

5 LOCATION OVERVIEW Mission, Kansas (Kansas City) Mission is located in Johnson County, just eight miles from Kansas City, and is a member of the Kansas City Metropolitan Area, which has a population of 2.34 million and ranks as the second largest metropolitan area in Missouri. Kansas City, the largest city in the state of Missouri, is the headquarters of dozens of national companies including American Century Investments, AMC Theatres, Applebee s, and Hallmark Cards. It is also home to one of the largest drug manufacturing plants in the U.S., Sanofi-Aventis, located in South Kansas City. Numerous agricultural companies operate out of the city as well, such as Dairy Farmers of America, the largest Dairy Co-op in the country. Kansas City is also one of ten regional office cities for the United States Government, making the U.S. Government the largest employer in the Kansas City metro area, with more than 146 federal agencies. Many universities, colleges, and seminaries are located in the Kansas City metropolitan area, including the University of Missouri Kansas City, Rockhurst University and Kansas City Art Institute among others. People come to Mission from all directions, to work and shop, see their doctors, dentists, lawyers and other professionals, and enjoy "big city services" in a friendly, small-town atmosphere. You'd expect to travel a hundred miles into rural Kansas to find a place like Mission, but it's only minutes away from all the excitement of Kansas City, Missouri and Kansas City, Kansas, and enjoys the safe and friendly residential atmosphere of Johnson County, Kansas. P O T B E L L Y & P I E F I V E F O R T I S N E T L E A S E

6 P O T B E L L Y & P I E F I V E F O R T I S N E T L E A S E

7 P O T B E L L Y & P I E F I V E F O R T I S N E T L E A S E

8 P O T B E L L Y & P I E F I V E F O R T I S N E T L E A S E

9 P O T B E L L Y & P I E F I V E F O R T I S N E T L E A S E

10 Average Household Income Exceeds $84,000 Within 5 Miles 259,000 People Live Within 5 Miles P O T B E L L Y & P I E F I V E F O R T I S N E T L E A S E

Radius 1 Mile 3 Mile 5 Mile Population: 2022 Projection 11,066 95,766 259,376 2017 Estimate 10,566 91,693 249,931 2010 Census 10,134 88,384 243,846 Growth 2017-2022 4.73% 4.44% 3.

11 Radius 1 Mile 3 Mile 5 Mile Population: 2022 Projection 11,066 95, , Estimate 10,566 91, , Census 10,134 88, ,846 Growth % 4.44% 3.78% Growth % 3.74% 2.50% 2017 Population Hispanic Origin 1,056 12,641 33, Population by Race: White 9,360 81, ,169 Black 586 4,600 17,013 Am. Indian & Alaskan ,742 Asian 279 2,426 8,311 Hawaiian & Pacific Island Other 297 2,420 6,520 U.S. Armed Forces: Households: 2022 Projection 5,385 42, , Estimate 5,145 40, , Census 4,958 39, ,956 Growth % 4.47% 3.74% Growth % 3.62% 2.36% Owner Occupied 3,108 26,964 69,884 Renter Occupied 2,037 13,521 41, Avg Household Income $71,289 $80,342 $84,518 P O T B E L L Y & P I E F I V E F O R T I S N E T L E A S E

12 E XC LU S I V E P R E S E N TAT I O N P R E S E N T E D BY: Frank Rogers Robert Bender Doug Passon Senior Associate Managing Partner Managing Partner frogers@fnlre.com

CLICK FOR DRONE IMAGES. Click Image For Online Property Map

CLICK FOR DRONE IMAGES. Click Image For Online Property Map CLICK FOR DRONE IMAGES O F F E R I N G M E M O R A N D U M Click Image For Online Property Map DISCLOSURE : All materials and information received or derived from Fortis Net Lease (hereinafter collectively