Absolute NNN Investment Opportunity BOJANGLES’ WHITEVILLE

New 15-Yr. NNN Lease, Expiring September 2031

2016 Construction Built-to-suit Bojangles’

1.25% Annual Rent Increases

BOJANGLES’ WHITEVILLELocated in Whiteville, North Carolina

Absolute NNN Investment Opportunity

2OFFERING SUMMARY

LEASE TYPE Absolute NNN

OWNERSHIP TYPE Fee Simple

TENANT Bojangles’

LEASE TERM 15 Years

REMAINING LEASE TERM 10 Years

RENT COMMENCEMENT September 14, 2016RENT EXPIRATION September 13, 2031INCREASES 1.25% Annual

OPTIONS Three, 5-year options

LEASE SUMMARY

TERM ANNUAL MONTHLY

September 14, 2016 - September 13, 2017 $157,262.85 $13,105.24





September 14, 2021 - September 13, 2022 $167,340.59 $13,945.05 September 14, 2022 - September 13, 2023 $169,432.35 $14,119.36









RENT SUMMARY$3,042,556

5.50% CAP RATE

YEAR BUILT2016

RENTABLE BLDG AREA3,925 SF

NOI$167,341

1406 N. JK Powell Blvd Whiteville, NC

RENT INCREASES1.25% Annual

3

,

INVESTMENT HIGHLIGHTS

• The subject property is situated across from Burger King, Quality Inn, and Cox Furniture. National retail tenants such as Food Lion, WalMart, Walgreens, McDonald’s and Buffalo Wild Wings are close by.

• Visible to 15,000 vehicles per day on N. JK Powell Blvd., a high traffic retail corridor.

• Surrounded by several K-12 schools totaling a student count of 1,919.

• Minutes to Columbus County Airport, which operates an average of 45 flights per day, or 16,700 flights per year.

• Under 2 miles to Columbus Regional Healthcare System, consisting of 625 employees and 225 patient beds.

• Stable Demographics - The average household income exceeds $66K within a 1-mile radius.

PROXIMITY

SECURE INCOME STREAM• Original 15-year NNN lease with 10 years remaining.

• 1.25% annual rent increases plus three, 5-year options offer attractive rent growth throughout the lease term.

• Absolute NNN Lease - Zero Landlord responsibilities for operating or capital expenses.

• 2016 built-to-suit construction for Bojangles’ featuring a drive-thru.

• Strong, well known tenant with extensive track record—operating over 763 restaurants in 14 states nationwide.

• Bojangles’ is a publicly traded tenant under a corporate guarantee (NYSE – BOJA) with $1.2 Billion Dollars in annual sales.

4

Drive Thru 1Drive Thru 2

SecureStorage

Cooler

Dry StorageCooler

Freezer

Men

Women

Corridor

Food Prep Serving Area

ServiceLine

Dining

Vestibule

Beverage

LEXINGTON FLOOR PLAN

FLOOR PLAN | 3,925 SF

5SITE PLAN | 1.62 AC

FLOWERS-PRIDGEN DR

N JK

PO

WEL

L BL

VD

701

3,92

5 SF

66PROPERTY PHOTOS

7DRONE FOOTAGEDRONE FOOTAGE

NORTH SOUTH

EAST WEST

N. JK Powell Blvd.: 15,000 VPDN. JK Powell Blvd.: 15,000 VPD

N. J

K Po

wel

l Blv

d.: 1

5,00

0 VP

D

N. J

K Po

wel

l Blv

d.: 1

5,00

0 VP

D

8

Washington StJefferson St

74

74

701Andrew Jackson Hwy SW

Pinc

kney

St

N JK Pow

ell Blvd

14,500 VPD

9,800 VPD

18,000 VPD

4,100 VPD

WHITEVILLEHIGH SCHOOL

EDGEWOOD ELEMENTARY SCHOOL

CAROLINAEASTERN

WHITEVILLEPRIMARY SCHOOL

AMENITIES AERIAL

9MARKET AERIAL

WHITEVILLE

NORTH CAROLINA

SOUTH CAROLINA

701

701

74

74

76

COLUMBUS COUNTY MUNI AIRPORT-CPC

3,400 VPD

17,500 VPD

12,000 VPD

11,500 VPD

14,500 VPD

11,000 VPD

MARKET AERIAL

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TENANT OVERVIEW

YEAR FOUNDED

1977

$1.9 M

LOCATIONS

750+Bojangles’ Inc. is a Southeastern regional chain of quick-service restaurants, specializing in mild Cajun season-ing, fried chicken, and buttermilk biscuits. The company was founded in Charlotte, North Carolina in 1977 by Jack Fulk and Richard Thomas. In January 2019, the company was acquired by a partnership of Durational Capital Management LP and The Jordan Company, LP. for $594 Million. Bojangles’ currently operates more than 757 locations throughout 14 states and generated over $1.2 Billion in system-wide sales in 2015. Bojangles’ hybrid system captures the earnings power of a company operated model with strong economics and the capital effi-ciency of a franchise model. The Bojangles’ organization is committed to ensuring the guests always get the best tasting, highest-quality products possible, served quickly by friendly people in a clean and pleasant environment.

More information is available at www.bojangles.com

AVERAGE UNIT VOLUME

11DEMOGRAPHICS | 1406 N. JK Powell Blvd. | Whiteville, NC

1 MILE 3 MILES 5 MILESPOPULATIONTotal 2,338 8,021 13,551HOUSING UNITSTotal 1,003 3,872 6,063Occupied 84.4 86.5% 87.2%Vacant 15.6% 13.5% 12.8%HOUSING UNITSAverage Household Income $66,955 $57,808 $57,614

2021

N. JK Powell Blvd.: 15,000 VPD

N. JK Powell Blvd.: 15,000 VPD

POPULATIONTotal 2,297 7,902 13,367HOUSING UNITSTotal 1,016 3,923 6,142Occupied 81.6% 84.2% 84.9%Vacant 18.4% 15.8% 15.1%INCOMEAverage Household Income $72,975 $62,905 $63,293

1 MILE 3 MILES 5 MILES

2026

THE LOCATION | WHITEVILLE, NORTH CAROLINA MSA Chartered in 1873, Whiteville, North Carolina is named for James B. White, who owned over two thousand acres of land, including a plantation named Marsh Castle. Whiteville’s beginnings, however, date back to 1733. The town was originally part of a 640 acre tract inherited by attorney John Burgin and his wife, Margaret. Whiteville had long been an agricultural community, but better roads and communications in the early twentieth century helped Whiteville to develop into a town. By 1930 White-ville had a business district with practically every type of merchandise store. Whiteville, however, remained a center for farming in North Carolina; its three main crops were tobacco, strawberries, and peanuts. With four highways leading into town, farmers could ship crops throughout the state. Between 1920 and 1930, Whiteville’s population increased by over thirty-percent. Today, Whiteville is the largest town in Columbus County and serves as the county seat.

Whiteville is situated 50 miles of west Wilmington, North Carolina and the Atlantic Ocean. As of 2021, the estimated population was 5,357 residents. In the past two decades, the population steadily grew by 9.9% from 2000 to 2021. However, the population of Whiteville is expected to decrease by 1.4% by 2026. The median house-hold income stands at $33,326 as of 2021; the average household income is $53,757. 22.6% of all households have a household income over $75,000 annually. There are currently 2,684 housing units in Whiteville. Of that, 52.3% are owner-occupied. The median home value is $124,646 (2021) and is estimated to increase by 9% to $135,897 in 2026. The median age of residents is 42.9 years old. 79.9% of all residents were of adult age (18+ years old). Additionally, 21.6% of all residents have college baccalaureate or post-graduate degrees.

ATTRACTIONSThe city of Whiteville is home to the North Carolina Museum of Natural Sciences’ satellite museum, the North Carolina Museum of Forestry. Exploration Station, another museum in the area, features a farmhouse, a bank, a make-believe hospital, a general store, and a schoolroom. Brunswick Town State Historic Site, and Moores Creek National Battlefield are places of historic interest near Whiteville. Boating, fishing, hiking, picnicking, and camping facilities are provided by the Lumber River State Park, Lake Waccamaw State Park, and Singletary Lake State Park. Residents of the city also organize the Columbus County Fair, Fire Ant Festival, and North Carolina Pecan Harvest Festival every year. The nearest airport to Whiteville is Wilmington International Airport (ILM) which is 46 miles away. Other nearby airports include Fayetteville Regional Airport (46.2 miles), and Myrtle Beach International Airport (47.4 miles).

ECONOMY & EDUCATIONWhiteville’s mid-Atlantic location places the city directly between New York City and Miami and provides local companies with an ease of distribution for their products to the entire population of the East Coast. Additionally, Whiteville’s close proximity to the Port of Wilmington gives industry leaders the cost efficiencies in distributing their products that are necessary to compete effectively. The area’s largest employers include Council Tool Co., Gore Trailer Manufacture, National Spinning Co., Pridgen Woodworks and Top Tobacco Co. There 47 colleges within 100 miles enrolling a total of 163,097 students. The top rated college in the area is University of North Carolina at Wilmington in Wilmington. The largest college in the area is Wake Technical Community College enrolling 21,872 students.

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The information contained herein, including an pro forma income and expense information (collectively, the “Information”) is based upon assumption and projections and has been compiled or modeled from sources we consider reliable and is based on the best available information at the time the brochure was issued. However, the Information is subject to change and is not guaranteed as to completeness or accuracy. While we have no reason to believe that the Information set forth in this brochure, underwriting, cash flows, valuation, and other financial information (or any Information that is subsequently provided or made available to you) contains any material inaccuracies, no representations or warranties, express or implied, are made with respect to the accuracy or completeness of the Information. Independent estimates of pro forma income and expenses should be developed before any decision is made on whether to invest in the Property. Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather only outline some of the provisions contained therein and are qualified in their entirety by the actual document to which they relate. You understand that the Information is confidential and is furnished solely for the purpose of your review in connection with a potential investment in the Property. You further understand that the Information is not to be used for any purpose or made available to any other person without express written consent of Colliers International. This offering is subject to prior placement and withdrawal, cancellation, or modification without notice. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2021. All rights reserved.

5901 Priestly Dr, Suite 100 Carlsbad, CA 92008

JAY PATEL Executive Vice President +1 760 930 [email protected] License No. 01512624

BROKER OF RECORD Lawrence ShawNC License No. NC143281

CO N F I D E N T I A L I T Y D I S C L A I M E R

MIKE SPISAK Senior Associate+1 760 930 [email protected] License No. 02003307

Documents

Absolute NNN Investment Opportunity BOJANGLES’ WHITEVILLE