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

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meineke1 1 6 1 3 E a s t N o r t h w e s t H i g h w a y

car carecenter

D a l l a s , T E x a s

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e x c l u s i v e ly l i s t e d b yW e s l e y c o n n o l l o y, M B ASenior Associate

wesley.connol ly@matthews.comDIR (949) 432-4512MOB (707) 477-7185LIC # 01962332

LIC # 678067

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

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0 8E X E C U T I V E S U M M A R Y 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 WP r o p e r t y d e ta i l sRepresentative Photo

• Highly sought after Dallas-Fort Worth MSA real estate with excellent surrounding demographics

• Attractive entry price point and initial return

• Situated on a major retail corridor on East Northwest Highway, which sees over 28,000 ADT

• Tenant executed first renewal option early showing their commitment to the location

• Highly recognizable brand: 1000+ Meineke units

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

e x e c u t i v e s u m m a r y

m e i n e k e c a r c a r e c e n t e r11613 East Northwest HighwayDallas, TX 75218

List Price ..............................................................................................$825,000

CAP Rate - Current ...................................................................................6.89%

Gross Leasable Area .......................................................................± 3,344 SF

Lot Size ..........................................................................................± 0.62 Acres

Year Built / Renovated ................................................................ 2002 / 2009

Annualized Operating DataMonthly Rent Annual Rent Rent/SF Cap Rate

Current - 7/31/2019 $4,737.33 $56,847.96 $16.99 6.89%

8/1/2019 - 7/31/2024 $5,211.06 $62,532.72 $18.70 7.58%

Option 1 $5,732.17 $68,786.04 $20.57 8.34%

Tenant Summary

Tenant Trade Name Meineke Car Care Center

Type of Ownership Fee Simple

Lease Guarantor MTURN, Inc.

Lease Type NN

Roof and Structure Landlord Responsible

Original Lease Term 10 Years

Lease Commencement Date 7/30/2009

Rent Commencement Date 7/15/2010

Lease Expiration Date 7/31/2024

Term Remaining on Lease ± 7 Years

Increases 10% increase in 2019 and again at renewal option

Options One (1), Five (5) Year Option

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P r o p e r t y d e ta i l s

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t h e o f f e r i n g

Property Name Meineke

Property Address 11613 East Northwest Highway

Dallas, TX 92056

Assessor’s Parcel Number 00-80430-00A-02B-00-00

Zoning MC-4, Dallas

Site DescriptionNumber of Stories One

Year Built / Renovated 2002 / 2009

Gross Leasable Area (GLA) ± 3,344 SF

Lot Size ± 0.62 Acres (27,181 SF)

Type of Ownership Fee Simple

Parking ± 13 Surface Spaces

Parking Ratio 3.79 : 1,000 SF

Landscaping Professional

Topography Generally Level

p a r c e l m a p

Martha Turner Reilly Elementary School

Highland Meadows Elementary School

Casa View Elementary School

Whiterock Marketplace

Subject Property

Casa View Shopping Center

± 40,000 ADT

± 188,000 ADT

East Northwest Highway± 28,000 ADT

ConstructionFoundation Concrete Slab

Framing Wood

Exterior Brick

Parking Surface Asphalt

Roof Flat

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Martha Turner Reilly Elementary School

Highland Meadows Elementary School

Casa View Elementary School

Whiterock Marketplace

Subject Property

Casa View Shopping Center

± 40,000 ADT

± 188,000 ADT

East Northwest Highway± 28,000 ADT

Pr o p er ty Demo g rap hics

2017 Est. Populat ion

1 27, 58 22017 Est. Households

46,882

Projecte d Populat ion Growth 2017 - 2022

5 . 87 %Projected Household Growth

2017 - 2022

5 .63% 2017 Est. Average Household Income

$7 1 ,489

3-m i l e rad i u s

DALLAS-FORT WORTH MSAAs the largest metropolitan area in the South and the fourth largest in the United States, the Dallas-Fort Worth Metroplex is the economic and cultural hub of the North Central Texas region. Growing research universities and innovative companies investing in the region, recognizing it as a hub of creativity, ingenuity and high-tech innovation. This area has become an essential part of growth strategies for companies and is acknowledged as one of the top 10 metropolitan areas in the United States for high-tech workers with over 230,000 employed workers across a variety of industries. The cities of Dallas and Fort Worth comprise the two largest urban centers of the continuously expanding Metroplex, respectively. On the eastern side of the metro area, Dallas is the larger of the two cities with an economy based on business management and operations. Conversely, the Texas farming and ranching industry is based on the west site of the metroplex in Fort Worth.

F a s t e s t G r o w i n g M e t r o i n t h e U . S .#2

M o s t I n n o v a t i v e E c o n o m y i n t h e U . S .#1A r e a o v e r v i e w

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Globally connected and centrally located, Dallas enjoys convenient accessibility to the rest of the country has allowed the city to emerge as a center for corporate America. A business-friendly environment, the availability of educated workers, low taxes and a low cost of doing business add to the city’s allure for companies looking to expand or relocate. Today, Dallas and its suburbs have one of the highest concentrations of corporate headquarters in the United States, 21 of which are Fortune 500 companies.

Dallas is a city where big ideas meet big opportunity thanks to the collaborative and engaged entrepreneurial ecosystem. Steady and significant growth in the city’s central core speaks to its highly-diversified economy and thriving job market that support several major industry clusters. The local economy continues to be heavily influenced by petroleum along with other historically successful industry niches including food manufacturing, media, telecommunications, transportation, IT services, logistics, instruments and real estate development.

B U S I N E S S I N B I G D

S o u t h e r n m e t h o d i s t u n i v e r s i t yAlso known as SMU, Southern Methodist University is a private research university located near the heart of Dallas. Its 234-acre University Park/Highland Park campus enjoys a unique urban setting, providing students the opportunities for leadership development hands-on research, community service and experiential learning. Hosting a total enrollment of 11,000 undergraduate and graduate students, SMU offers a strong foundation in the humanities and sciences in its seven schools; There are 106 bachelor’s degree programs, 114 master’s degree programs and 31 doctoral-research degree programs for students to choose from. SMU continues to gain recognition for its increasing impact on its students, faculty and community, earning it a ranking of #56 on U.S. News and World Report’s Best Colleges National Universities list.

Every fall brings about the excitement of football season on campus as students and alumni come together to cheer on the SMU Mustangs, the university’s football program which competes in the NCAA FBS in the American Athletic Conference.

D a l l a s D e m o g r a p h i c s

T o p E m p l o y e r s

1,314,3792017. Est. Population

503,6862017. Est. Households

6.70%Projected Population

Growth 2017 - 2022

6.37%Projected Population

Growth 2017 - 2022

$76,3302017 Est. Average

Household Income

As the primary international airport serving the Dallas-Fort Worth area, Dallas/Fort Worth International Airport (DFW) is the third busiest airport in the world and the busiest airport in Texas seeing over 65.5 million passengers annually. The airport is the largest hub for American Airlines, which is headquartered nearby. DFW is roughly located halfway between Dallas and Fort Worth, providing passengers service to 217 destinations.

Six miles northwest of downtown Dallas, Dallas Love Field is a city-owned commercial airport that is home to the corporate headquarters and a focus city for Southwest Airlines, the largest domestic airline in the United States. Dallas Love Field is also a focus city for Virgin America. The airport’s main terminal underwent a $519 million modernization plan that replaced its existing terminal buildings with a single 20-gate concourse.

Dallas Area Rapid Transit (DART) is Dallas’ transit agency that operates buses, light rail and a commuter rail. Serving Dallas and twelve of its suburbs, DART sees an average daily ridership of 200,000 riders. DART’s bus system provides 27 local routes that serve downtown Dallas, 15 suburban routes that link suburban neighborhoods to transit centers and 20 crosstown routes that run through Dallas and its suburbs.

g e t t i n g a r o u n d

DALLAS/FORT WORTH INTERNATIONAL AIRPORT

DALLAS LOVE FIELD

DART

Established by an interlocal agreement between DART and the Fort Worth Transportation Authority, the Trinity Railway Express is a commuter rail line in the Dallas-Fort Worth metroplex. It is the fifteenth most-ridden commuter rail system in the country with an average weekday ridership of over 8,000 passengers per day. The TRE fleet is comprised of nine locomotives that offer rail service between downtown Dallas and DFW airport.

TRINITY RAILWAY EXPRESS

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T E N A N T O V E R V I E W

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Property Name Meineke

Parent Company Trade Name Driven Brands, Inc.

Ownership Private

No. of Locations ± 1,000

Headquartered Charlotte, North Carolina

Website www.meineke.com

Year Founded 1972

TENANT OVERVIEW

Meineke Car Care Centers, formerly Meineke Discount Mufflers, is owned by Driven Brands, which also franchises the Maaco and Econo Lube ‘N Tune brands, among others in its portfolio. Since its founding in Houston in 1972, the ideals of founder Sam Meineke are an essential part of the company’s corporate and franchise culture. Meineke continues to repair brakes, align wheels, install tires, provide factory-scheduled maintenance and other services. From the company website, customers can learn about vehicle maintenance and safety, print coupons and apply for the Meineke credit card.

The current operator at this location is MTURN, Inc., which was formed in April 2012. The owner and director of these stores have 35+ years of management experience in executive technology roles and general retail based operations. Currently MTURN, Inc. owns and operates three locations. A successful Meineke operation in Longview TX, a brand new store in Tyler TX scheduled to open 6/17 and recently acquired the operations at this Dallas TX location. MTURN, Inc. intends to open 1 new Meineke operating location each 9-18 months.

GEOGRAPHIC OUTREACH

Meineke Car Care Centers have more than 1,000 franchised stores located throughout the US, Canada, Mexico, the Caribbean, Saudi Arabia, South Korea and China.

STRATEGY

Driven Brands prides itself in its dedication to helping entrepreneurs reach their highest level of success and growth potential throughout the automotive franchise industry. Under the veteran leadership of senior executive teams, Driven Brands subsidiaries operate via a series of established procedures and through the use of historically successful company systems. With a focus on quality products, workmanship and consistent vehicle maintenance, Meineke has been able to become one of the most trusted and recognized brands in the United States. Future plans of expansion for Meineke Car Care Centers is primarily focused on the Buffalo Niagara region. The full-service automotive repair center is aiming to open 13 more area locations in the next five years.

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This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Meineke located at 11613 East Northwest Highway, Dallas, TX 75218 (“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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e x c l u s i v e ly l i s t e d b y

W e s l e y C o n n o l ly, M B ASenior Associate

wesley.connol ly@matthews.comDIR (949) 432-4512MOB (707) 477-7185LIC # 01962332

1 1 6 1 3 E a s t N o r t h w e s t H i g h w a y | D a l l a s , T X

K Y L E M AT T H E W SBROKER OF RECORD

LIC # 678067

™meineke car carecenter

11-2-2015

Information About Brokerage ServicesTexas law requires all real estate license holders to give the following informaƟon about

brokerage services to prospecƟve buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: .• A BROKER is responsible for all brokerage acƟviƟes, including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material informaƟon about the property or transacƟon received by the broker; • Answer the client’s quesƟons and present any offer to or counter-offer from the client; and • Treat all parƟes to a real estate transacƟon honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a wriƩen lisƟng to sell or property management agreement. An owner's agent must perform the broker’s minimum duƟes above and must inform the owner of any material informaƟon about the property or transacƟon known by the agent, including informaƟon disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a wriƩen representaƟon agreement. A buyer's agent must perform the broker’s minimum duƟes above and must inform the buyer of any material informaƟon about the property or transacƟon known by the agent, including informaƟon disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parƟes the broker must first obtain the wriƩen agreement of each party to the transacƟon. The wriƩen agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligaƟons as an intermediary. A broker who acts as an intermediary:

• Must treat all parƟes to the transacƟon imparƟally and fairly; • May, with the parƟes' wriƩen consent, appoint a different license holder associated with the broker to each party (owner and

buyer) to communicate with, provide opinions and advice to, and carry out the instrucƟons of each party to the transacƟon. • Must not, unless specifically authorized in wriƟng to do so by the party, disclose:

ᴑ that the owner will accept a price less than the wriƩen asking price; ᴑ that the buyer/tenant will pay a price greater than the price submiƩed in a wriƩen offer; and ᴑ any confidenƟal informaƟon or any other informaƟon that a party specifically instructs the broker in wriƟng not to

disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transacƟon without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s duƟes and responsibiliƟes to you, and your obligaƟons under the representaƟon agreement. • Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This noƟce is being provided for informaƟon purposes. It does not create an obligaƟon for you to use the broker’s services. Please acknowledge receipt of this noƟce below and retain a copy for your records.

Licensed Broker /Broker Firm Name or Primary Assumed Business Name

License No. Email Phone

Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/Associate

License No. Email Phone

Sales Agent/Associate’s Name License No. Email Phone

Regulated by the Texas Real Estate Commission

Buyer/Tenant/Seller/Landlord Initials

InformaƟon available at www.trec.texas.gov IABS 1-0

Date

Kyle Matthews/Matthews Retail Group Inc. 678067 kyle.matthews@matthews.com (310) 919-5757

Kyle Matthews 678067 kyle.matthews@matthews.com (310) 919-5757