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Investment Highlights 20 year absolute NNN lease with 7.5% rent bumps every 5 years and 4 renewal options of 5 years each Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925 million in 2014 Franchisee operator with 136 current units and over 30 years experience in the fast food industry Close proximity to downtown, Fairmont State University (4,600 students), Fairmont General Hospital (700 employees), Fairmont Field Club & Golf Course, Fairmont Municipal Airport and the I-79 Technology Park The I-79 Technology Park is currently a 400 acre 750,000 SF class A office and data center community with over 30 businesses and 1,500 employees - the Park has capacity for over 1.5 million SF of space and potential workforce over 10,000 Traffic counts over 14,500 in front of property and over 126,000 residents in a 15 mile radius Fairmont, WV +/- 3,731 Square Feet $2,752,000 - 6.50% Cap Rate Jack Jamison, Broker-In-Charge 550 S. Main Street, Suite 300 • Greenville, SC 29601 864.263.5414 o • 864.232.0160 f • www.REALTYLINKDEV.com For investment information: J. Tyson Glasser, CCIM • Investment Sales Advisor [email protected] • 864.263.5427 o • 404.435.6312 c

Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

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Page 1: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

Investment Highlights• 20 year absolute NNN lease with 7.5% rent bumps

every 5 years and 4 renewal options of 5 years each

• Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925 million in 2014

• Franchisee operator with 136 current units and over 30 years experience in the fast food industry

• Close proximity to downtown, Fairmont State University (4,600 students), Fairmont General Hospital (700 employees), Fairmont Field Club & Golf Course, Fairmont Municipal Airport and the I-79 Technology Park

• TheI-79TechnologyParkiscurrentlya400acre750,000SFclassAofficeanddatacentercommunitywith over 30 businesses and 1,500 employees - the Park has capacity for over 1.5 million SF of space and potential workforce over 10,000

• Trafficcountsover14,500infrontofpropertyandover126,000residentsina15mileradius

Fairmont, WV+/- 3,731 Square Feet

$2,752,000 - 6.50% Cap Rate

Jack Jamison, Broker-In-Charge550S.MainStreet,Suite300•Greenville,SC29601

864.263.5414o•864.232.0160f•www.REALTYLINKDEV.com

For investment information:J. Tyson Glasser, CCIM •InvestmentSalesAdvisor

[email protected]•864.263.5427o•404.435.6312c

Page 2: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

Investment Property

ATTENTION: This brochure has been prepared to provide summary information to prospective purchasers and to establish a preliminary level of interest in the property presented. It does not, however, purport to present all material information regarding the subject property, and it is not a substitute for a thorough due diligence investigation. In particular, RealtyLink,LLChasnotmadeanyinvestigationandmakesnowarrantyorrepresentationwithrespecttothefinancialconditionorbusinessprospectsofanytenantoranytenant’splans or intentions to continue or renew its occupancy of the subject property. The information contained in this brochure has been obtained from sources we believe to be reliable;however,RealtyLink,LLChasnotconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompleteness of the information provided.

TheRealtyLinknameisaregisteredtrademarkofRealtyLink,LLC.

TheRealtyLinklogoisaregisteredservicemarkofRealtyLink,LLC.

Textandcontent©Copyright2014RealtyLink,LLC.

808 Fairmont Avenue

Fairmont, Marion County, WV 26554

Page 3: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

Table of Contents

Investment Summary

BrandProfile

TenantProfile

Property Photos

Site Plan

Market Aerial

LocationMaps

MarketProfile

Demographics

Page 4: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

Investment Summary

Location: Along the Interstate 79 high tech corridor in north central WV about 90 miles south of Pittsburgh, PA

Land Size: +/- .863 Acres

Building Size: +/- 3,731 Square Feet

Building Age: Developed in 1996 and remodeled in 2011

Purchase Price: $2,752,000

Cap Rate: 6.50%

Annual Base Rent: $178,897.55 (years 1-5)

Store Sales: $1,749,022 in 2013 (Contact broker for more historical sales data)

Tenant: GPSHospitality,LLC(seeTenantProfileformoreinfo)

Guarantor: GPS Hospitality Acquisition Company, LLC and a personal guaranty from operator

Lease Type: Absolute Triple Net

Lease Commencement: December 30, 2013

Base Lease Term: 20 Years

Option Terms: 4 at 5 Years

Landlord Responsibility: None

Tenant Responsibility: CAM, Taxes, Insurance, Roof, Structure, Parking Lot, etc.

Parking: 64 spaces including 3 handicap

Zoning: Main Corridor Commercial

TrafficCounts: FairmontAvenue/USHwy250-14,535ADT(2011WVDOTest.)

Interstate 79 - 46,596 ADT (2011 WV DOT est.)

Demographics: 2014 5-Mile 10-Mile 15-Mile

Population 39,684 63,804 126,652

Households 17,059 26,910 52,946

Average HH Income $52,396 $54,637 $56,975

Median HH Income $38,510 $40,880 $42,802

Page 5: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

BrandProfile

BurgerKingWorldwideisaDelawarecorporationthatfranchisesandoperatesfastfoodhamburgerrestaurants,principallyundertheBurgerKing®brand(alsoreferredtoasthe“Brand”).Sincethecompany’sfoundingasasinglerestaurant in Miami, Florida in 1954, they have grown to become the world´s second largest fast food hamburger restaurant,orFFHR,chainasmeasuredbythetotalnumberofrestaurants.AsofDecember31,2013theBurgerKingsystem consisted of more than 13,667 restaurants in over 95 countries and territories. Theirrestaurantsfeatureflame-grilledhamburgers,chickenandotherspecialtysandwiches,frenchfries,softdrinksandotheraffordably-pricedfooditems.TheOriginalWHOPPER®,introducedin1957,isoneofthebest-knownhamburgersandwichesintheworldandremainsaperennialfavorite.Duringtheirmorethan50yearsofoperatinghistory,theyhavedevelopedascalableandcost-efficientquickservicehamburgerrestaurantmodelthatofferscustomersfastfoodataffordableprices. They generate revenues from two sources: (1) retail sales at Company restaurants; and (2) franchise revenues, consisting primarily of royalties based on a percentage of sales reported by franchise restaurants and franchise fees paid by franchisees as well as property income derived from properties they lease or sublease to their franchisees. Approximately 99% of current restaurants are franchised and they have a higher percentage of franchise restaurants to Company restaurants than their major competitors in the FFHR category. They believe that their high percentage of franchise restaurants provides them with a strategic advantage because the capital required to grow and maintain the Burger King®systemisfundedprimarilybyfranchisees.

Page 6: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

TenantProfile

AtGPS,theirnamesaysitallbecauseit’stheshorthandfortheirValues…Goals,PeopleandService.Everythingtheydoand how they make decisions are guided by these Values. And,theirdestination…theirVision…istobetheirGuests’FavoriteFastFoodDestination.BystayingtruetotheirValues,theydeliverwhattheirguestsexpectanddeserve…greattastingfoodservedbyfriendlyandcourteouspeopleinclean,attractive and comfortable restaurants. As they work together to achieve their Vision, they create a Win-Win culture where both the company and individuals are equally successful and prosperous. TheyviewtheGPSteamaspartnerswhosharetheaccountabilitytodeliverthefinancialperformanceofahealthyand growing company while providing the tools, resources and support for every individual to earn competitive compensation and to be positioned for future growth as top performing leaders. This simple formula of Goals, People, and Service paints a clear picture of what it takes to succeed, creates a deep pride in their work and rewards each of them professionally,financiallyandpersonally.Inshort,theyarecommittedtoaculturewhereeverybodywins.

TomGarrettisaseasonedQuickServiceRestaurantoperatorwithover30years’experiencehavingservedasbothCEOofArby’sRestaurantGroupandPresidentofRTMRestaurantGroup.Garretthasdeepexperienceasaconsolidator,acquiringandturningaroundunder-performingfranchisees.In2012,GarrettenteredtheBurgerKingsystembyformingGPSHospitality,LLCtoacquire42company-ownedBurgerKingrestaurantsinAtlanta,Georgia,establishingastrongplatformforgrowth.TheturnaroundinAtlantaiswellunderwaywithsignificantimprovementsinguestsatisfaction,margins and overall operations.

Fortenantfinancialinformation,pleasecontactthebrokerforaConfidentialityAgreement.

Page 7: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

Property Photos

Page 8: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

Site Plan

Downtown Fairmont

Fairmont State University and

Fairmont General Hospital

Fairmont Field Club & Golf Course

The Technology ParkI-79 High Tech

Cooridor

Page 9: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

Market Aerial

To Technology Park and Bridgeport

To Morgantown

Page 10: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

LocationMaps

Page 11: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

MarketProfile

Nestled in the mountains of West Virginia, Fairmont, the county seat, was known as Middletown before it was renamed in 1843. Building on its historic success, this community has transitioned into a perfect example of preserving the past while embracing the future.

American Coal Company, the precursor of Consolidated Coal Company, opened the state’sfirstcommerciallysuccessfulcoalmineherein1852,andthecompanyisstillinoperation.WhilethecoalindustryplaysavitalroleinWestVirginia’seconomy,thebusinessleadersinMarionCountylongagosawtheneedtodiversifythearea’seconomy and workforce.

Fromitsuniquebeginnings,MarionCounty’srichhistoryhashelpeditprosperintoacountyofintellect,technology,wellness,recreation,culture,goodfriendsandcloseneighbors.Thecounty’sfutureshineslikeabrightlight.Themembers and leaders of the Marion County Chamber of Commerce are excited about the future.

QualityofLifeAsolideducationsystemisthefoundationofanysuccessfulbusinesscommunity,andMarionCountyisproudtoofferthefinesteducationalopportunities from pre-school through college. Parents can choose from private and public schools. With three county high schools, numerous middle and grade schools, and a thriving university and community technical college, the education system in Marion County speaks for itself, and the commitment to quality education is shared by educational leaders and the business community.

Whenitcomestorecreationandentertainment,MarionCountyofferssomethingforeveryone.Visitorswilldiscovergreatvenuesforfun,including rock climbing, go cart racing, rails to trails, boating, hiking, movies, golf and everything in between. The Marion County Parks and RecreationDepartment,alongwithlocalbusinessessuchasValleyWorldsofFunandTygartValleyCinemascreateanatmosphereoffamilyentertainment for all ages.

FairmontGeneralHospitalisaprivate,non-profit,communityhospitalfoundedin1939.ThehospitalprovidesawidevarietyofpatientservicesandisaccreditedbytheJointCommissionandtheAmericanCollegeofSurgeonsCommissiononCancer.FGH,holdstheirstaffofover700physicians,nursesandpersonneltoahighstandardofpatientcare.Thestaffistrainedinnotonlyprovidingexceptionalmedicalservicesbutquality, compassionate care.

Page 12: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

MarketProfile

I-79 Technology Park

The I-79 Technology Park is located within the heart of the I-79 High Technology Corridor just south of Fairmont, West Virginia. The location of theI-79TechnologyParkplacesitwithinoneday’sdriveof60%oftheU.S.populationandsomeoftheNation’slargestcitiesincludingNewYork,Boston,Washington, Chicago, Atlanta, Charlotte, Philadelphia, Baltimore, Pittsburgh and Indianapolis.

The I-79 Technology Park includes over 400 acres divided into four contiguousphases.Over750,000squarefeetofworld-classofficeanddatacenter space has been constructed so far, and several hundred thousand additional square feet are currently underway. The I-79 Technology Park is proud to be home to over 30 businesses with approximately 1,500 employees. These businesses include Azimuth, Inc., BAE Systems, Computer Sciences Corporation, Electronic Warfare Associates, Inc., FirstEnergy Corp.,IBM,IdealInnovations,Inc.,LockheedMartin,ManTechInternationalCorporation,NorthropGrumman,TASC,Inc.,TimeWarnerCable,TRAX International Corporation and the West Virginia United Health System. The I-79 Technology Park is also proud to be home to several federal programs including the National Oceanic and Atmospheric Administration (NOAA), National Aeronautics and Space Administration (NASA), the FederalBureauofInvestigation(FBI)andtheDepartmentofArmy–BiometricsIdentityManagementAgency(BIMA).TheI-79TechnologyParkwillsoonbehometotheWestVirginiaCommunityandTechnicalCollegeSystem’sNorthCentralAdvancedTechnologyCenter(ATC)bringingavaluable academic component to the I-79 Technology Park community. www.wvhtf.org/techpark

Page 13: Fairmont, WV - RealtyLink, LLC · every 5 years and 4 renewal options of 5 years each • Existing location built in 1996 and remodeled in 2011 with above average store sales of $1.925

Demographics

The following pages detail the demographic data for this market

within a 5-mile, 10-mile, and 15-mile radius.