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5688 N. Garfield Avenue, Loveland, CO 80538 (Fort Collins MSA)

New Construction Burger King Restaurant

20 Year Absolute NNN Lease

7.5% Increases Every 5 Years in PrimaryTerm and Options

Backed by Over 50 BK Units Operated byVeteran Franchisee

Hard Corner Location in Loveland, CO (FortCollins MSA)

BURGER KING$2,700,000 | 5.00% CAP

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Burger King was founded in 1953 in Jacksonville Florida, and is the second largest fastfood hamburger chain in the world.

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CO BROKER OF RECORDJEFF POSTGRI/OwnerFirst Colorado Land Officepost@firstcolorado.com

CO BROKER OF RECORD:

First Colorado Land OfficeLic. # FA40018515

INVESTMENT OVERVIEW

$2,700,000 | 5.00% CAP

BURGER KING | LOVELAND, COLORADO

CONTACT FOR DETAILS

ED BENTONVICE PRESIDENT(713) 263-3981ebenton@securenetlease.com

This information has been secured from sourceswe believe to be reliable but we make norepresentations or warranties, expressed or implied,as to the accuracy of the information. Buyer mustverify the information and bears all risk for anyinaccuracies.

New 20-year absolute NNN lease, with 7.5% increases every 5 years in both theprimary term and renewal option periods.

Excellent hard corner location at the intersection of Highway 287 and 57th street whichsees over 30,000 vehicles per day.

Stellar income demographics, with average household incomes of $86,388, $101,199,and $98,919 within a 1, 3 and 5 mile radius respectively.

Veteran franchise operator, lease is backed by an experienced and successfulfranchisee of the Burger King system with over 50 Burger King restaurants.

Dense population, with 46,625 and 107,119 people living within a 1 and 3 mile radiusrespectively

Orchards Shopping Center. 1-mile from subject Burger King is the 34 acre OrchardsShopping Center with over 30 tenants such as GNC, Family Dollar, Office Depot, PizzaHut, Radio Shack, Baskin Robbins and many others

Budweiser Event Center (7,200 seats) is located within 4-miles from the subjectproperty and Fort Collins Loveland Regional Airport (40,000 passengers annually) isjust 3-miles away

SECURE NET LEASE | 3SECURE NET LEASE | 3

$135,000

2019

3,475 SF

100%

1.20 ACRES

ABSOLUTE NNN

NOI

YR BUILT

BUILDING AREA

OCCUPANCY

LAND AREA

LEASE TYPE

TENANT OVERVIEW

BURGER KING (bk.com)LESSEE: BURGER KING

TOTAL LOCATIONS

Every day, more than 11 million guests visit Burger King restaurants around the world.And they do so because our restaurants are known for serving high-quality, great-tasting, and affordable food. Founded in 1954, Burger King is the second largest fastfood hamburger chain in the world. The original HOME OF THE WHOPPER, BurgerKing's commitment to premium ingredients, signature recipes, and family-friendlydining experiences is what has defined their brand for more than 50 successful years.Burger King is the second largest fast food hamburger chain in the world and a solidnet lease investment, providing stability in an uncertain market.

Similar to other quick-service restaurant (QSR) operators, Burger King prefers locationsin high traffic areas with superior access. The building is typically a 3,000 - 4,000square feet with a drive-thru window, situated on 0.5 - 1.5 acre of land. It is important tonote that Burger King franchises the majority of their locations. Therefore, there are anumber of various lease agreements and guarantors operating under the Burger Kingbanner.

Burger King has been in business for over 60 years and owns or franchises more than14,000 Burger King restaurants in approximately 100 countries and US territoriesworldwide, almost all of which are franchised.

Burger King generates revenues from three sources: retail sales at companyrestaurants; franchise revenues, and property income from restaurants that BKH leasesor subleases to franchisees.

BURGER KING | LOVELAND, COLORADO

1.65B

QSR

BB-

REVENUE

STORE TICKER

CREDIT RATING

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17,796

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IN THE NEWSBURGER KING | LOVELAND, COLORADO

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BURGER KING PLANS TO RELEASE IMPOSSIBLEWHOPPER NATIONWIDE

BURGER KING LEADS RESTAURANT BRANDSINTERNATIONAL'S SALES GROWTH

Olivia Roos, April 29, 2019 (NBC News)Sam Danley, August 13, 2019 (Food Business News)

After a successful trial run, Burger King announced Monday that it plans torelease its Impossible Whopper nationwide. By the end of the year, the plant-based burger will be available in all of Burger King's approximately 7,300locations.

“Our Impossible Whopper test in St. Louis went exceedingly well and as a resultwe plan to extend testing into additional markets in the very near future,” aspokesman for Burger King's parent company, Restaurant Brands Inc., said in astatement.

The appeal of the Impossible Whopper for Burger King’s meat-eating clienteleis the patty's near identical taste and texture to actual meat.Impossible Foodshas created a plant-based burger that bleedsalthier than the original? In a tastetest, Burger King clientele couldn’t tell the difference between the meat-basedand plant-based Whoppers.

Another added appeal for the burger is the comparably low environmentalfootprint of plant-based foods over the beef industry.

“We’re seeing really, really good response from our guests,” he said during anAug. 2 conference call with analysts. “We see that there are two types ofbehaviors taking place. We’re seeing existing guests come more often andactually changing their orders, and try the same product but with differentproteins, so that’s exciting. And then we’re seeing new guests as well, youngerguests, we’re seeing a shift as well in demographics.”

System-wide sales across Restaurant Brands International’s three chains grew8%, led by Burger King, which posted 9.8% growth during the second quarterended June 30. Sales at Popeyes grew 8.8%, while Tim Hortons recorded salesgrowth of 1.6%.Net income was $331 million, or 71c per share on the commonstock, up 5% from $313 million, or 66c per share, during the same period lastyear.

Efforts to drive comparable sales growth at Popeyes paid off. Globalcomparable sales grew 3% globally and 2.9% in the United States.

Burger King made waves on April 1 when it became the largest fast-foodcompany thus far to begin selling the vegan burger.

Burger King saw strength outside of the United States. Internationalsystem-wide sales grew approximately 18%, with 6.5% comparable storessales growth and close to 10% unit expansion.

INITIAL LEASE TERM 20 Years, Plus (4), 5-Year Options to Renew

RENT COMMENCEMENT 12/31/2019

LEASE EXPIRATION 12/30/2039

LEASE TYPE Absolute NNN (Franchisee Guaranty)

RENT INCREASES 7.5% Every 5 Years, In Primary Term & Options

ANNUAL RENT YRS 1-5: $135,000

ANNUAL RENT YRS 6-10: $145,125

ANNUAL RENT YRS 11-15: $156,009

ANNUAL RENT YRS 16-20: $167,710

OPTION 1 $180,288

OPTION 2 $193,809

OPTION 3 $208,345

OPTION 4 $223,971

LEASE OVERVIEWBURGER KING | LOVELAND, COLORADO

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This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed orimplied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

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SITE OVERVIEWBURGER KING | LOVELAND, CO

NEIGHBORING RETAILERS

2019

3,475 SF

1.20 ACRES

YR BUILT

BUILDING AREA

LAND AREA

Walmart Walgreens

Taco Bell Tractor Supply Co.

Chase Bank U-haul

Sonic O’Reilly Auto Parts

Little Caesars State Farm Insurance

Dollar Tree Anytime Fitness

The Home Depot Petco

Family Dollar Subway

Pizza Hut Goodwill

Lowe's Kohl's

Marshalls Old Navy

PetSmart Target

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This information has been secured from sources we believeto be reliable but we make no representations or warranties,expressed or implied, as to the accuracy of the information.Buyer must verify the information and bears all risk for anyinaccuracies.

NGARF

IELD

AVEN

UE

E 57TH STREET

MONUMENT SIGN

Medical Center of the Rockies (4,000) Walmart, Inc. (500) Platte Chemical Co. (340)

Hach Company (850) Perspecta Risk Decision Inc. (500) Dillon Companies, Inc. (280)

Wooward, Inc. (700) Senior MBK Living LLC (446) The Evangelical Lutheran Good Samaritan Society (276)

Contibeef LLC (600) Kroll Factual Data, LLC (400) Nutrien AG Solutions, Inc. (300)

City of Loveland (536) L.P.R. Construction Co. (350) Home Depot USA Inc. (200)

DEMOGRAPHICS 1-MILE 3-MILE 5-MILE

POPULATION 7,885 46,625 107,119

HOUSEHOLDS 3,046 18,370 43,311

AVG. HH INCOME $86,388 $101,199 $98,919

TOTAL HH EXPENDITURE $194.67 M $1.31 B $3.03 B

LOCATION OVERVIEW

ECONOMIC DRIVER’S (# of Employees)

VIEW MAP

BURGER KING | LOVELAND, COLORADO

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LOCATION OVERVIEW

COLORADOLOVELAND

74,125POPULATION

$61,133MEDIAN HOUSEHOLD INCOME

BURGER KING | LOVELAND, COLORADO

Northern Colorado’s third largest city, Loveland, Colorado, with a currentpopulation of 77,446, increasing 2% from the previous year. Burger King isstrategically located in the heart of Colorado’s booming north Front Range on the

corner of W 57th St and Highway 287 (42,701 VPD). Loveland is known for itsexcellent quality of life, happy residents, and thriving arts scene, it is evident thatLoveland is built on a rich history. Central within northern Colorado, Loveland’seconomic climate thrives on diverse industries including energy, agriculture,bioscience and aerospace. Less than 2 hours away from world renown ski resorts,Loveland acts as the gateway to the Rockies. As Loveland and neighboring FortCollins continue expanding towards one another, the cities share a highly educated

workforce, booming economy and entrepreneurial spirit. Residents of Lovelandwork and play in Fort Collins and the surrounding Northern Colorado area. TheFort Collins-Loveland Regional Airport (3-miles) serves an important role inproviding private aircrafts with easy access in and out of Northern Colorado(40,000 annual passengers). 4-miles away from the subject property is TheBudweiser Events Center, a 7,200-seat multi-purpose arena. Home to the LarimerCounty Fair and PRCA which hosts over 2,000 events a year.

TOP10

MOST SECUREPLACES TO LIVE(BESTPLACES.NET)

89%PRODUCES 89% OFCOLORADO’S OIL ANDIS HOME TO THREEWIND FARMS

The entrepreneurial spirit is vibrant and runs deep in Loveland’scommunity, and offers the best business climate and future growthopportunities.

IN THE NEWSBURGER KING | LOVELAND, COLORADO

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FORT COLLINS COUNCIL GIVES PRELIMINARYOK TO CITY'S LARGEST NEW DEVELOPMENT

10 REASONS YOU SHOULD CONSIDER MOVINGTO LOVELAND, COLORADO

Fort Collins Coloradoan, Jan 15, 2020 (9 News.com)August 01, (The Group, Inc)

FORT COLLINS, Colo. — In a marathon meeting that started Tuesday andended Wednesday morning, Fort Collins City Council approved the frameworkof the 4,000-home Montava neighborhood in northeast Fort Collins.

The nearly eight-hour meeting drew an overflow crowd of more than 200 toCity Hall, many of whom implored council to reject or delay a developmentthey said would exacerbate traffic problems and decrease safety on CountryClub Road and Lemay Avenue.

Plans for Montava, in the city's Mountain Vista area, include an estimated 3,900energy- and water-efficient homes; a 40-acre working farm; an 80-acrecommunity park; a town center; and an array of schools, trails, retail and otherfeatures.

The $300 million HF2M development couldn't move forward without councilapproval of the planned unit development, or PUD, master plan.

The PUD sets the framework for the project going forward, but each ofMontava's 16 phases of development will have to go back through the city'sdevelopment review process for approval before any building permits areissued. Montava principal Max Moss said he hoped to break ground on phaseone in 2022.

Loveland, Colorado is known across the entire country as The Sweetheart City.The origin of that name goes back to the mid-1940s to postmaster Elmer Iversand marketing extraordinaire Ted Thompson.

And during the rest of the year, we get lovely reminders of our city’s sweetnature with programs like City with HeART which promotes both public art andlocal business. At an estimated 2.6% in March 2018, Loveland’s unemployment

rate is amongst the top five best in Colorado. This is, in part, thanks to the city’slocation in the middle of three of the top employers in the region: ColoradoState University in Fort Collins, University of Northern Colorado in Greeley andUniversity of Colorado in Boulder. Other major employers include AgilentTechnologies, the Thompson School District (one of the best districts in thestate!), McKee Medical Center and Wal-Mart Distribution Center.

Northern Colorado’s third largest city, Loveland, Colorado, is home toone of the largest sculpture gardens in the country, a nationally-famousvalentine re-mailing program, and huge regional attractionslike Budweiser Event Center and The Promenade Shops at Centerra.

If completed, Montava will be Fort Collins’ largest residential developmentin recent history.

12 | SECURE NET LEASE

Northern Colorado Speaks, August 1, 2019 Fort Collins Coloradoan, January 15, 2020

DICK’S SPORTINGGOODS PARK

ROCKY MOUNTAINMETROPOLITAN AIRPORT

WYOMING

COLORADO

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FORT COLLINSBURGER KING | LOVELAND, COLORADO

METRO STATISTICS

TOTAL POPULATION 310,487

GDP PER CAPITA $43,820

NATIONAL ECONOMY RANKING Top 10

FORTUNE 500 COMPANIES 5

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