WAWA (NNN Ground Lease)

WAWA (NNN Ground Lease) Ocala, FL

Representative Photo Patrick Nutt Managing Partner 954.302.7365 | patrick.nutt@

OFFERING MEMORANDUM

Wawa | Financial Summary

Asking Price $3,406,593

Cap Rate 4.55%

3312 W Silver Springs Blvd Ocala, FL 34475

Asset Summary

Net Operating Income (NOI) Rent/Month Rentable Square Feet Land Area Tenant Website Credit Rating Guarantor Lease Type Landlord Responsibilities Store Opens Lease Term Remaining Rent Commencement Lease Expiration Increases Options

$155,000 $12,916

6,119+/- SF 2.1+/- Acres

Wawa

Fitch: BBB Corporate NNN Ground Lease

None 03/21/2019

20 Years 03/21/2019

3/31/2039 8% Every 5 Years Starting LY 11

Fix (6), Five (5) Year

Rent Schedule

Term Years 1-10 Years 11-15 Years 16-20 Years 21-25 (Option 1) Years 26-30 (Option 2) Years 31-35 (Option 3) Years 36-40 (Option 4) Years 41-45 (Option 5) Years 46-50 (Option 6)

Increases 8% 8% 8% 8% 8% 8% 8% 8%

Annual Rent $155,000.00 $167,400.00 $180,792.00 $195,255.36 $210,875.79 $227,745.85 $245,965.52 $265,642.76 $286,894.18

Monthly Rent $12,916.67 $13,950.00 $15,066.00 $16,271.28 $17,572.98 $18,978.82 $20,497.13 $22,136.90 $23,907.85

Investment Highlights

?? New 20-year corporate Wawa ground lease ?? High traffic lighted intersection ?? Interstate location ?? High traffic count on W Silver Springs Blvd (33,000 VPD) ?? Investment grade credit - Fitch: BBB ?? Wawa operates over 800 locations

Calkain Companies | 2

Tenant Overview

About Wawa

Wawa Inc. is an American chain of convenience stores and gas stations. Wawa stores are located in Pennsylvania, New Jersey, Delaware, Maryland, Virginia and Central Florida. The stores offer a large fresh food service selection, including Wawa brands such as built-to-order hoagies, freshly brewed coffee, hot breakfast sandwiches, built-to-order specialty beverages, and an assortment of soups, sides and snacks. Wawa is your all day, every day stop for fresh, built-to-order foods, beverages, coffee, fuel services, and surcharge-free ATMs. A chain of more than 800 convenience retail stores (500 offering gasoline), over 165 of those are in Florida. They plan to open 50+ stores per year in 2018 and 2019. Most stores are open 24 hours a day, 365 days a year.

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# of Locations 802

Established 1964

Credit Rating Fitch: BBB

2017 Revenue $10Bil

# of Employees 28,700

Calkain Companies | 3

Location Overview

Tallahassee

10

Distance To

Gainesville Orlando

36 miles 76 miles

75

Lake City

Jacksonville

95

St Augustine

Gainesville

Subject Site

75

Ocala

95

Daytona Beach

4

75

Hollywood

Daytona Beach St. Augustine

85 miles 88 miles

Orlando

Tampa St. Petersburg

95 miles 117 miles

Calkain Companies | 4

3312 W Silver Springs Blvd | Ocala, FL 34475

Ocala International

Airport

W Silver Springs Blvd 33,000 VPD Subject Site

75

Dr. NH Jones Elementary School

I-75 69,000 VPD

College Park Elementary School Gaitway Plaza

College Rd 45,000 VPD

COLLEGE OF CENTRAL FLORIDA

Paddock Mall

3312 W Silver Springs Blvd | Ocala, FL 34475

W Silver Springs Blvd 33,000 VPD

75

Subject Site

I-75 69,000 VPD

SW 33rd Ave

Location Highlights

Just Off I-75 (69,000 VPD)

33,000 VPD Pass the Site

Brand New Construction

Site Plan

W Silver Springs Blvd 33,000 VPD

SW 33rd Ave

Calkain Companies | 7

Location Overview, 1/3/5 Miles

75

Ocala

75

1 Mile

Population

2018 Population

4,544

2023 Population

4,750

2018 Median Age

Households

2018 Total Households 2023 Total Households

30.5

1,057 1,124

Median Household Income

2018 Median HH Income $25,174

2023 Median HH Income $28,245

Average Household Income

2018 Average HH Income $36,881 2023 Average HH Income $42,735

3 Miles

28,571 29,863

38.3

11,084 11,572

$34,231 $39,036

$51,148 $60,716

5 Miles

70,869 74,807

41.7

28,719 30,249

$40,301 $46,705

$62,125 $73,839

5 Mile Radius | Demographics

Population

70,869

Median Age

41.7

Avg HH Income

$62,125

Total Businesses

4,993

Total Employees

66,530

Net Worth

$263,463

Calkain Companies | 8

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