S e r v i c e K i n g , F o r t M y e r s , F L | 1

Service King1 2 4 9 0 M e t r o P k w y | F o r t M y e r s , F L

O F F E R I N G M E M O R A N D U M

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E X E C U T I V E S U M M A R Y

f i n a n c i a l O V E R V I E W

a r e a O V E R V I E W

t e n a n t o v e r v i e w

K y l e M at t h e w sBROKER OF RECORD

LIC # CQ1052263

J a c k C h a n g

Associate

Jack.Chang@matthews.comDIR (949) 873 0509MOB (949) 413 9751LIC # 01873010 (CA)

G a r y c h o u

FVP & Senior Director

Gary.Chou@matthews.comDIR (310) 919-5827MOB (714) 928-8016LIC # 01911222 (CA)

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I n v e s t m e n t H i g h l i g h t s

PROPERTY DETAILS

• ± 7 years on current lease with Service King

• Offered at an attractive 6.5% Cap rate

• Low price point for collision center only $1,870,615

• Above market 2% annual increases, great hedge against inflation

• Property built in 2001, significantly newer than most collision center buildings

• Low Rent/SF - Service King is currently only paying $6.44, way below market for comparable spaces and substantially below average collision centers’ rent

LOCATION

• Strategically located off of Metro Parkway

• Strong main retail street with over 31,000 VPD

• This location services three major markets: Fort Myers, Cape Coral and Naples

• Explosive Population Growth – Double-Digit Growth 2017 - 2022 Estimate

• High Income Market - Average Incomes above $60,000

TENANT

• Service King is one of the largest Collision Repair companies in the United States with over 330 Locations in 24 Different States

• Significant Private Equity Funding - Blackstone Group LP and Carlyle LP backed, with Blackstone Group LP with controlling shares

• Service King is estimated to have over $1 Billion in annual revenue and employs more than 6,000 people

• Service King is capitalizing on the consolidation of the rapidly growing Collision Industry, a $33+ billion industry in US and Canada

• Great Hedge Against Ecommerce

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S e r v i c e K i n g12490 Metro Pkwy Fort Myers, FL 33966

List Price .................................................................................................... $1,870,615

CAP Rate - Current ..........................................................................................6.50%

Gross Leasable Area ............................................................................± 18,880 SF

Lot Size .................................................................................................. ± 2.01 Acres

Year Built ...............................................................................................................2001

Annualized Operating DataMonthly Rent Annual Rent Rent/SF Cap Rate

Current $10,132.63 $121,591.56 $6.44 6.50%

2018 $10,335.28 $124,023.39 $6.57 6.63%

2019 $10,541.99 $126,503.86 $6.70 6.76%

2020 $10,752.83 $129,033.94 $6.83 6.90%

2021 $10,967.88 $131,614.61 $6.97 7.04%

2022 $11,187.24 $134,246.91 $7.11 7.18%

2023 $11,410.99 $136,931.85 $7.25 7.32%

2024 $11,639.21 $139,670.48 $7.40 7.47%

2025 $11,871.99 $142,463.89 $7.52 7.62%

Tenant Summary

Tenant Trade Name Service King

Type of Ownership Fee Simple

Lease Guarantor Service King Paint and Body, LLC

Lease Type NN

Roof and StructureTenant Responsible for Roof

Landlord Responsible for Structure

Property Tax Landlord

Original Lease Term 10 Years

Lease Commencement Date 1/17/2015

Rent Commencement Date 2/1/2015

Lease Expiration Date 1/31/2025

Term Remaining on Lease ± 7 Years

Increases 2% Annually

Options Three- 5-Year Options

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Property Name Service King

Parent Company Trade Name Service King Holdings, LLC

Ownership Non-Public

Revenue $1B+

No. of Locations ± 330

Headquartered Richardson, TX

Website serviceking.com

Year Founded 2012

TENANT OVERVIEW

Service King is the largest provider of collision repair services in Texas and one of the largest independently owned and operated provider of collision repair services in the United States. They provide automotive body repair, automotive painting, hail damage repair, and glass replacement on all vehicle makes and models throughout multiple metro areas in the United States.

STRATEGY

Service King technicians are rigorously trained and certified to work with every make and model of vehicle on the road. No matter what type of car, the veteran team at Service King is up to the job. The collision repair specialists lead the industry in everything from fender repair to dent repair and everything in between. Many Service King collision repair centers are also certified to perform highly specialized repairs, such as aluminum repair and paintless dent repair.

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Oceanside

Blvd ± 31

,792

Col

lege

Blv

d ±

40,11

6

t h e o f f e r i n g

Property Name Service King

Property Address 12490 Metro Pkwy

Fort Myers, FL 33966

Assessor’s Parcel Number 18-45-25-05-0000A.0090

Site DescriptionNumber of Stories One

Year Built 2001

Gross Leasable Area (GLA) ± 18,880 SF

Lot Size ± 2.01 Acres (87,555 SF)

Type of Ownership Fee Simple

Landscaping Professional

Topography Generally Level

S e r v i c e K i n g , F o r t M y e r s , F L | 1 1

P a r c e l M A p

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Subject Proberty

Air Station Navigation

Movin’ On Mobility

Imperial Dragon Kenpo Karate

Grainger Industrial SupplyEuropean

-American Bakery Cafe

Quality Custom Window Tining

Stoneworks of Ft. Myers

Storm Shutter

Warehouse

Rosen Materials

Artesian Pool Construction

Metro Shopping

Center

My Planet Mall

Met

ro S

hopp

ing

Cen

ter

Metro

Pkwy

± 31,0

00 AD

T

N o r t h B o u n d

S e r v i c e K i n g , F o r t M y e r s , F L | 1 3

Subject Proberty

Metro Self Storage

Erickson’s Drying

Systems

Prestige Motosports

Metro Granite &

Marble

Air Station Navigation

Movin’ On Mobility

Merit Electronics

White Aluminum

& Windows

Andy’s Automotive

Repair

Hotsy Pressure Systems

Metro Concept & Collision Signs By

TomorrowHouse of Ladders

SiteOne Landscape

Supply

Sunbelt Rentals

Metro P

kwy

S o u t h B o u n d

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Nestled alongside the Caloosahatchee River in Southwest Florida, Fort Myers is a midsize metro area. It has retained its small-town heritage though, with a charming downtown lined with shops and restaurants, many of which are dog-friendly. Museums, parades, festivals, theaters, music, parks, historical sites and art galleries pepper the metro area and its social calendar. Just a few miles away, Fort Myers Beach, Cape Coral and Sanibel Island are popular among boaters, kayakers, sailors, and anglers.

F o r t M y e r s , F L

d e m o g r a p h i c s

POPULATION 1 Mile 3 Mile 5 Mile

2022 Projection 8,401 65,734 148,241

2017 Estimate 7,506 58,227 130,712

2010 Census 6,919 50,403 109,257

Growth 2017 - 2022 11.92% 12.89% 13.41%

HOUSEHOLDS 1 Mile 3 Mile 5 Mile

2022 Projection 3,681 30,282 67,452

2017 Estimate 3,305 26,934 59,698

2010 Census 3,105 23,692 50,611

Growth 2017 - 2022 11.38% 12.43% 12.99%

Growth 2010 - 2017 6.44% 13.68% 17.95%

INCOME 1 Mile 3 Mile 5 Mile

2017 Est. Average Household Income

$62,120 $66,345 $69,550

S e r v i c e K i n g , F o r t M y e r s , F L | 1 5

downtown redevelopment areaThe Downtown redevelopment district, also known as the River District, will be a colorful historic sub-tropical waterfront city, with original brick-lined streets and charming restaurants, shops, art galleries, and performing arts venues. The River District’s combined commercial-residential walkable neighborhoods may have the style of the past, but they are the wave of the future when it comes to convenience and saving natural resources.

The plan integrates the existing historical area with a strategy to develop the neighboring, largely vacant riverfront. Some of the new projects for the riverfront area include a crescent-shaped water detention basin lined by unique retail shops, restaurants, and a convention hotel; making the marina bigger; increasing downtown parking, and creating a cultural destination through improved parks and outdoor spaces.

e c o n o m yEmployment prospects are on the rise in Fort Myers. Some industries are predicted to expand in the next 10 years including advanced manufacturing, financial, and professional services and information technology, according to the Lee County Economic Development Office.

Sales, office and administrative support jobs account for nearly 30 percent of the job market in Fort Myers, while the construction industry is making a comeback with the growth of the economy. In October 2015, Hertz’s corporate headquarters relocated to the greater Fort Myers area and brought more jobs to the region. The renovation of the new JetBlue Park at Fenway South, the spring training camp for the Red Sox, was another boon for the area.

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at t r a c t i o n s

Fort Myers is popular for its beaches, fishing, shopping - and the opportunity to learn about two of the nation’s most famed inventors and business leaders. Family’s can experience one-on-one natural encounters, play on top-notch Fort Myers beaches and endless family-friendly attractions, restaurants, and resorts in Fort Myers and surrounding areas along southwest Florida’s sunny Gulf Coast. The Thomas Edison and Henry Ford winter estates in downtown Fort Myers serve as museums that honor the founders.

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This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Service King located at 12490 Metro Pkwy , Fort Myers, FL 33966 (“Property”) . I t has been prepared by Matthews Real Estate Investment Services. This Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. The informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the Property. I t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews Real Estate Investment Services. The mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. Prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the Property, you agree:

1 . The Offer ing Memorandum and i ts contents are conf ident ia l ;

2 . You wi l l hold i t and treat i t in the str ictest of conf idence; and

3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the Sel ler.

Owner and Matthews Real Estate Investment Services expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the Property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the Property unless and unt i l a wr i t ten agreement for the purchase and sale of the Property has been ful ly executed and del ivered.

I f you wish not to pursue negot iat ions leading to the acquis i t ion of the Property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is Property including this Offer ing Memorandum.

A prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the Property, or informat ion provided herein or in connect ion with the sale of the Property shal l be l imited to those expressly provided in an executed Purchase Agreement and shal l be subject to the terms thereof. In no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews Real Estate Investment Services or any of their af f i l iates or any of their respect ive of f icers , Directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the Property.

This Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the Property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the Property s ince the date this Offer ing Memorandum.

C O N F I D E N T I A L I T Y & D I S C L A I M E R S TAT E M E N T

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BROKER OF RECORD

e x c l u s i v e ly l i s t e d b y

Service King1 2 4 9 0 M e t r o P k w y | F o r t M y e r s , F L

™

J a c k C h a n g

Associate

Jack.Chang@matthews.comDIR (949) 873 0509MOB (949) 413 9751LIC # 01873010 (CA)

G a r y c h o u

FVP & Senior Director

Gary.Chou@matthews.comDIR (310) 919-5827MOB (714) 928-8016LIC # 01911222 (CA)

K y l e M at t h e w sBROKER OF RECORD

LIC # CQ1052263