For investment information:

J. Tyson Glasser, CCIM • Investment Sales Director

tglasser@realtylinkdev.com • 864.263.5427 o • 404.435.6312 c

1362 Whiskey Rd SE, Aiken, SC 29803 · 1.202 Acres · 3,808 SF · $2,940,000 · 6.25% Cap Rate

Bojangles’ Famous Chicken ‘n Biscuits - Fresh Market & Party City Outparcel

Table of Contents

Property Cover................................................1 Table of Contents...........................................2 Investment Highlights..................................3 Investment Summary....................................4 Location Map & Aerial..................................5 As-Built Survey.................................................6 Tenant Profile...................................................7 Market Profile..................................................8 Demographics..........................................9-11 Contact Information..................................12

• 40 year old restaurant brand with over 700 locations in 12 Southeast and mid-Atlantic states

• Publicly traded company (Nasdaq: BOJA) with 25 consecutive quarters of comparable store sales growth

• Long term absolute NNN lease with 10% rent bumps every 5 years and multiple renewal options

• New construction in front of a fully occupied Fresh Market and Party City anchored shopping center

• Located on the market’s primary commercial and traffic artery about 1.5 miles from downtown

• High visibility and easy access with about 20,000 cars per day in front of the property

• Over 56,000 residents with average household income of $73,500 in a 5 mile radius

• Nationally recognized community along the I-20 corridor (www.visitaikensc.com) and part of the Augusta GA MSA (www.visitaugusta.com)

• The Augusta GA MSA is the second largest in GA and 92nd largest in the U.S. with a population of about 600,000

Investment Highlights

Investment SummaryAsking Price: $2,940,000

CAP Rate: 6.25% (increases to 6.87% on 5/1/22 and 7.56% on 5/1/27)

Address: 1362 Whiskey Road SE, Aiken, SC 29803

Land Size: 1.202 Acres and 52,339 Square Feet

Building Size: 3,808 Square Feet with Drive Thru

Building Age: New construction completed April 2016

Tenant/Guarantor: BojLand Restaurant Group, LLC (personal guarantees included)

Lease Type: Absolute Triple Net with zero Landlord responsibility

Lease Term: 16 year initial term with 3 renewal options of 5 years each

Lease Commencement: April 25, 2016

Lease Expiration: April 30, 2032

Annual Base Rent: $183,700.80 (Years 1-6)

Rental Increases: 10% every 5 years beginning in Year 7

Frontage: +/- 209 Feet on Whiskey Road

Access: One main entrance/exit on Whiskey Road and multiple

peripheral access points

Parking: 41 total spaces with 2 handicap spaces

Zoning: PC – Planned Commercial

Traffic Counts: +/- 19,800 on Whiskey Road (2015 data)

DEMOGRAPHIC SUMMARY - 2016 1 Mile 3 Mile 5 Mile

POPULATIONHOUSEHOLDSAVERAGE HH INCOMEMEDIAN HH INCOME

4,746 32,920 56,068 2,233 14,586 23,509$78,582 $74,973 $73,529$57,940 $51,579 $50,715

Location Map & Aerial

As Built Survey

Tenant ProfileFounded in 1977 by Jack Fulk and Richard Thomas, Bojangles’ Famous Chicken ‘n Biscuits is a regional chain of quick service restaurants specializing in spicy, “Cajun” fried chicken and buttermilk biscuits. The restaurants, named after the stage name of Bill Robinson and memorialized in song by Jerry Jeff Walker, are also known for their distinctive side dishes including dirty rice, Cajun-style pinto beans, seasoned French fries and Southern sweet tea.

Based in Charlotte, North Carolina, Bojangles’ grew rapidly from its inception and currently has over 700 restaurants. They open a new restaurant on average every ten days. Currently Bojangles’ has restaurants in North Carolina, South Carolina, Georgia, Tennessee, Florida, Alabama, Mississippi, Virginia, Maryland, Pennsylvania and DC. They’re also located internationally with three restaurants in Honduras.

The Wall Street Journal has ranked Bojangles’ as one of “25 High-Performing Franchises across all industries.“ Among its other recognitions, Entrepreneur Magazine has named Bojangles’ the number 1 restaurant in the chicken category, QSR Magazine has listed Bojangles’ in its Top 10, Franchise Deals, Inc. magazine has listed Bojangles’ among the fastest growing private companies for several years, GE Capital has shown Bojangles’ to be among its top ten fastest growing restaurant chains and The Nations Restaurant News has shown Bojangles’ to be the fastest growing chicken chain in 2010 and the fastest growing drive-thru, free standing QSR restaurant chain.

BojLand Restaurant Group LLC is a growing multi-unit franchisee based in Augusta, GA with 10 current locations in the Augusta MSA, and new locations opening soon in Montgomery, AL. BojLand was established in June of 2002 when founders Pat and Sandra Landon relocated from Charlotte, NC to fulfill their dream of running their own restaurant company after 25 years of working in the industry for other chains. Today their three children, Cristin, Andrea and Daniel, have all chosen to be in the family business in various capacities to continue the tradition of excellence for many years to come.

http://bojland.com/about/https://www.facebook.com/Bojland

Market ProfileAiken & Aiken CountyAiken is one of the two largest cities in the Central Savannah River Area, located 20 miles northeast of Augusta, Georgia, along U.S. Route 1 and 78, at the center of Aiken County.

ECONOMY

The city of Aiken has been enjoying an economic boom in recent years, pioneered by the myriad of retail establishments and restaurants that have immersed themselves within the area. South Aiken has been the prime example of this new growth, becoming the premier shopping district in Aiken County, home of the Aiken Mall, multiple retail stores, and numerous restaurants. South Aiken also hosts two large residential communities, Houndslake Country Club and Woodside Plantation Country Club, both of which contain multiple golf courses within their communities. In recognition of its citizens working together to identify

and tackle community-wide challenges, the National Civic League granted Aiken with the All-America City Award in 1997.

EDUCATION

The city is home to the University of South Carolina at Aiken, a four-year, public coeducational university of well over 3,000 students. USC-Aiken is ranked #1 among top public regional colleges in the South in the 2015 edition of U.S. News & World Report and has been ranked first ten times since 2002. South Aiken High School is also located in the area with an enrollment of around 1,500 students.

EVENTS AND ATTRACTIONS

The Aiken Steeplechase Association, founded in 1930, hosts the Imperial Cup each March and the Holiday Cup in October, both of which are steeplechase races sanctioned by the National Steeplechase Association. These events attract more than 30,000 spectators every year. Additionally, the city of Aiken hosts polo matches as well as the annual Western Carolina State Fair and Aiken Bluegrass Festival.

Percent10.2%10.8%7.4%9.5%

16.5%12.0%21.4%7.4%4.9%

Number Percent230 4.4%246 4.7%249 5.1%255 4.9%285 5.0%567 11.8%516 12.9%717 11.2%620 14.7%440 13.0%332 8.1%136 4.0%

Number Percent3,863 82.8%

525 11.8%23 0.5%67 1.7%5 0.2%

31 0.8%79 2.3%

135 3.8%186Hispanic Origin (Any Race) 2.9% 158 3.3%111Two or More Races 1.7% 95 2.0%

8Some Other Race Alone 0.7% 36 0.8% 40Pacific Islander Alone 0.1% 7 0.1%

23Asian Alone 1.5% 74 1.6% 81American Indian Alone 0.5% 23 0.5%

4,041Black Alone 11.4% 555 11.7% 574White Alone 84.1% 3,957 83.4%

Race and Ethnicity Percent Number Percent NumberCensus 2010 2016 2021

39385+ 3.0% 172 3.6% 197

75 - 84 7.2% 340 7.2%

71765 - 74 9.6% 539 11.4% 63555 - 64 13.5% 700 14.8%

62845 - 54 15.6% 628 13.2% 54835 - 44 11.2% 537 11.3%

24625 - 34 12.3% 618 13.0% 57720 - 24 6.2% 258 5.4%

25115 - 19 5.6% 246 5.2% 24110 - 14 5.4% 256 5.4%

2145 - 9 5.4% 237 5.0% 2290 - 4 5.0% 214 4.5%

Population by Age Percent Number Percent NumberCensus 2010 2016 2021

$86,734Per Capita Income $36,663 $40,475Average Household Income $78,582Median Household Income $57,940 $66,636

171$200,000+ 96 4.3% 112$150,000 - $199,999 136 6.1%

276$100,000 - $149,999 432 19.3% 491$75,000 - $99,999 256 11.5%

218$50,000 - $74,999 327 14.6% 378$35,000 - $49,999 280 12.5%

247$25,000 - $34,999 243 10.9% 169$15,000 - $24,999 220 9.9%

Number<$15,000 243 10.9% 235

Households by Income Number Percent2016 2021

Median Household Income 2.84% 2.30% 1.89%Owner HHs 0.56% 1.12% 0.73%Families 0.38% 1.01% 0.72%Households 0.56% 1.14% 0.79%Population 0.55% 1.15% 0.84%

Trends: 2016 - 2021 Annual Area State NationalMedian Age 44.1 45.1 46.0Renter Occupied Housing Units 703 784 806Owner Occupied Housing Units 1,451 1,449 1,490Average Household Size 2.13 2.13 2.12Families 1,269 1,293 1,318Households 2,154 2,233 2,296Population 4,593 4,746 4,878

Summary Census 2010 2016 2021

1362 Whiskey Rd, Aiken, South Carolina, 29803 Prepared by EsriRing: 1 mile radius Latitude: 33.53626

Longitude: -81.72438

Demographic and Income Profile

Percent12.8%12.0%8.4%

11.0%14.2%11.4%18.3%7.0%4.9%

Number Percent1,622 4.7%1,685 4.9%1,837 5.3%1,917 5.0%1,894 4.8%3,481 11.9%3,384 11.4%4,631 10.9%4,854 14.9%3,501 14.6%2,097 8.2%

899 3.3%

Number Percent22,391 69.4%7,898 24.9%

116 0.4%601 2.2%18 0.1%

290 1.2%486 2.0%910 3.8%1,298Hispanic Origin (Any Race) 2.9% 1,093 3.3%

677Two or More Races 1.5% 578 1.8%

27Some Other Race Alone 0.9% 340 1.0% 393Pacific Islander Alone 0.1% 23 0.1%

120Asian Alone 1.9% 669 2.0% 737American Indian Alone 0.4% 116 0.4%

23,513Black Alone 24.8% 8,219 25.0% 8,429White Alone 70.4% 22,975 69.8%

Race and Ethnicity Percent Number Percent NumberCensus 2010 2016 2021

2,78385+ 2.8% 1,039 3.2% 1,123

75 - 84 6.6% 2,280 6.9%

5,05665 - 74 11.0% 4,369 13.3% 4,95755 - 64 15.3% 5,169 15.7%

3,87445 - 54 14.6% 4,072 12.4% 3,69235 - 44 10.6% 3,410 10.4%

1,63825 - 34 10.9% 3,998 12.1% 4,02020 - 24 6.0% 1,781 5.4%

1,80115 - 19 6.0% 1,762 5.4% 1,68510 - 14 5.8% 1,775 5.4%

1,6095 - 9 5.3% 1,686 5.1% 1,6590 - 4 5.1% 1,579 4.8%

Population by Age Percent Number Percent NumberCensus 2010 2016 2021

$82,442Per Capita Income $33,663 $37,011Average Household Income $74,973Median Household Income $51,579 $58,150

1,052$200,000+ 638 4.4% 741$150,000 - $199,999 865 5.9%

1,718$100,000 - $149,999 2,298 15.8% 2,746$75,000 - $99,999 1,640 11.2%

1,655$50,000 - $74,999 2,031 13.9% 2,129$35,000 - $49,999 1,981 13.6%

1,806$25,000 - $34,999 1,555 10.7% 1,268$15,000 - $24,999 1,595 10.9%

Number<$15,000 1,982 13.6% 1,924

Households by Income Number Percent2016 2021

Median Household Income 2.43% 2.30% 1.89%Owner HHs 0.67% 1.12% 0.73%Families 0.47% 1.01% 0.72%Households 0.61% 1.14% 0.79%Population 0.59% 1.15% 0.84%

Trends: 2016 - 2021 Annual Area State NationalMedian Age 45.2 46.3 46.9Renter Occupied Housing Units 4,553 5,022 5,152Owner Occupied Housing Units 9,490 9,564 9,887Average Household Size 2.23 2.22 2.22Families 8,823 9,015 9,231Households 14,043 14,586 15,039Population 31,801 32,920 33,896

Summary Census 2010 2016 2021

1362 Whiskey Rd, Aiken, South Carolina, 29803 Prepared by EsriRing: 3 mile radius Latitude: 33.53626

Longitude: -81.72438

Demographic and Income Profile

Percent12.6%12.8%8.9%

10.6%15.7%11.2%17.3%6.1%4.9%

Number Percent2,926 5.1%2,940 5.2%3,140 5.6%3,680 5.8%3,602 5.5%6,030 12.2%5,804 11.5%7,643 10.8%7,611 14.3%5,459 13.8%3,236 7.4%1,291 2.9%

Number Percent36,853 68.2%13,995 26.1%

221 0.4%800 1.7%27 0.1%

571 1.3%896 2.2%

1,633 4.1%2,369Hispanic Origin (Any Race) 3.1% 1,988 3.5%1,276Two or More Races 1.7% 1,079 1.9%

40Some Other Race Alone 1.1% 676 1.2% 779Pacific Islander Alone 0.1% 34 0.1%

234Asian Alone 1.5% 911 1.6% 1,014American Indian Alone 0.4% 225 0.4%

39,510Black Alone 26.2% 14,683 26.2% 15,107White Alone 69.1% 38,460 68.6%

Race and Ethnicity Percent Number Percent NumberCensus 2010 2016 2021

4,28285+ 2.4% 1,519 2.7% 1,676

75 - 84 6.1% 3,552 6.3%

8,30065 - 74 10.2% 6,965 12.4% 7,97155 - 64 14.3% 8,365 14.9%

6,66245 - 54 14.3% 6,832 12.2% 6,27335 - 44 10.9% 5,915 10.5%

3,16025 - 34 11.3% 7,034 12.5% 7,09720 - 24 6.8% 3,442 6.1%

3,22115 - 19 6.9% 3,402 6.1% 3,35310 - 14 5.9% 3,102 5.5%

2,9485 - 9 5.5% 3,049 5.4% 3,0170 - 4 5.5% 2,890 5.2%

Population by Age Percent Number Percent NumberCensus 2010 2016 2021

$80,693Per Capita Income $31,774 $34,824Average Household Income $73,529Median Household Income $50,715 $56,363

1,482$200,000+ 1,028 4.4% 1,193$150,000 - $199,999 1,217 5.2%

2,728$100,000 - $149,999 3,496 14.9% 4,223$75,000 - $99,999 2,540 10.8%

2,576$50,000 - $74,999 3,625 15.4% 3,814$35,000 - $49,999 3,144 13.4%

3,116$25,000 - $34,999 2,659 11.3% 2,163$15,000 - $24,999 2,698 11.5%

Number<$15,000 3,104 13.2% 3,061

Households by Income Number Percent2016 2021

Median Household Income 2.13% 2.30% 1.89%Owner HHs 0.75% 1.12% 0.73%Families 0.58% 1.01% 0.72%Households 0.71% 1.14% 0.79%Population 0.67% 1.15% 0.84%

Trends: 2016 - 2021 Annual Area State NationalMedian Age 42.6 43.6 44.2Renter Occupied Housing Units 6,833 7,635 7,880Owner Occupied Housing Units 15,436 15,873 16,476Average Household Size 2.31 2.30 2.30Families 14,503 15,102 15,543Households 22,269 23,509 24,355Population 53,362 56,068 57,959

Summary Census 2010 2016 2021

1362 Whiskey Rd, Aiken, South Carolina, 29803 Prepared by EsriRing: 5 mile radius Latitude: 33.53626

Longitude: -81.72438

Demographic and Income Profile

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Investment Contacts:

J. Tyson Glasser, CCIMInvestment Sales Directortglasser@realtylinkdev.com864.263.5427 o • 404.435.6312 c

550 S. Main Street, Suite 300 • Greenville, SC 29601864.242.4008 p • 864.232.0160 f • www.REALTYLINKDEV.com