OFFERING MEMORANDUM WINGER’S BAR & GRILL absolute nnn

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2015. All rights reserved

OFFERING MEMORANDUM

WINGER’S BAR & GRILL | absolute nnn / sale-leaseback205 HOSPITAL DRIVE | PRICE, UTAH 84501

GEORGE ILIFF208 472 [email protected]

COLLIERS INTERNATIONAL P. 2205 Hospital Drive | OFFERING MEMORANDUM

HIGHLIGHTS > Absolute Triple Net (NNN) Lease

> Zero landlord responsibility including roof and structure

> Directly off of US Highway 6 and US Highway 91, which are both major highways critical for freight distribution.

> Set next door to the largest regional hospital – Castleview Medical Center

> Within close proximity to Eastern Utah State University

> The property is located immediately off of one of the three major interchanges in Price, Utah

> Adjacent to three hotels

> Sale-leaseback

PROPERTY OVERVIEW


PROPERTY PROFILEAddress 205 Hospital Drive, Price, Utah

Building Size 4,565 SF

Land Size Parceling in process

Lease Term 15 years

Lease Type Absolute Triple Net (NNN) | Sale Leaseback

Landlord Responsibility None

Rent Increases Rare 1.5% annual increases

Net Operating Income $96,000

Price $1,477,000

Cap 6.5%

PROPERTY OVERVIEW

SITE


PROPERTY OVERVIEW

SITE


PROPERTY OVERVIEW


TENANT PROFILE

The initial conception of Winger’s began back in the mid 1980’s when my brother-in-law and I opened up a small counter-service food establishment, built inside an old 1940’s style train car in downtown Salt Lake City. Back then it was called California C&R. We had all of the standard menu items - burgers, sandwiches, and salads, but we also created a new and unique recipe for our chicken wings and ribs that was like no other. It was not a traditional buffalo sauce, but a unique hot and sweet combination. We soon began to draw a huge following, and shortly thereafter started winning awards and drawing high profile guests from around the world. We soon realized that the great food items that we were developing would work even better in a full service, fun and casual restaurant. With this idea, the first Winger’s restaurant opened in Bountiful, Utah in 1993, in what was still a very small (2800 sq. ft.) diner style building, but with the best food and service around!

When Winger’s opened its doors in 1993, one of our guiding principals was to serve “The Favorite and Most Popular food items of the day”. Simply stated, this means that our Winger’s menu is continually evolving with our customers tastes, but it is always done with our unique Winger’s touch. While we have always been known for our “World Famous Wings” with “Original Amazing Sauce”, we have also now added our equally popular “Sticky Finger’s”, among many other menu items that have become favorites over the years. The Winger’s concept has also evolved to add a fun and exciting bar area that greatly compliments our Winger’s dining, complete with big screen TV’s and entertainment to compliment the now World Famous food that our guests always get. With our parent company having over 30 years in the full service restaurant business, we have always had a passion to be the leader in our industry. Winger’s service and guest focus is second to none. We look for our Winger’s Franchise Partners to also carry that same passion for being the best. We know that Winger’s has the best food, service, and fun atmosphere around, but we also know that it only happens because of the quality of people that make the Winger’s family! From all of our staff at each restaurant, to each of our Franchise Partners, to everyone at our corporate office, Winger’s has become successful because of the people who have become our “extended family”. It takes a deep commitment to be the best in the restaurant and bar industry, and it is that passion that is instilled in everything we do.

Eric Slaymaker, PresidentWinger’s USA, Inc.

Winger’s Franchising, Inc.


1 Mile 3 Miles 5 Miles

POPULATION

2016 Estimated Population 2,318 12,285 14,091

2021 Projected Population 2,383 12,654 14,550

2010 Census Population 2,379 12,557 14,401

2000 Census Population 2,271 11,859 13,653

Projected Annual Growth 2016 to 2021 0.6% 0.6% 0.7%

HOUSEHOLD

2016 Estimated Households 915 4,576 5,246

2021 Projected Households 930 4,664 5,636

2010 Census Households 932 4,614 5,297

2000 Census Households 836 4,216 4,870

INCOME

2016 Est. Average Household Income $60,668 $57,505 $57,707

2016 Est. Median Household Income $56,192 $52,253 $51,886

EDUCATION (AGE 25+)

2016 Est. High School Graduate 24.0% 27.3% 27.1%

2016 Est. Some College 36.7% 32.0% 32.0%

2016 Est. Associate Degree Only 11.6% 12.2% 13.4%

2016 Est. Bachelor Degree Only 9.5% 10.7% 10.3%

2016 Est. Graduate Degree 3.2% 5.3% 5.0%

DEMOGRAPHICS

COLLIERS INTERNATIONAL P. 81450 S. Eagle Flight Way | OFFERING MEMORANDUM

AREA OVERVIEW

PRICE UTAH

Price is a small city in central Utah. It lies at the edge of the Colorado Plateau close to the Nine Mile Canyon and Manti-La Sal National Forest. Home to approximately 8,700 people, this historic mining town is recognized by visitors for its abundant outdoor recreation and beautiful mountain surroundings; however, residents also love it for its low cost of living and extremely low crime rate.

The climate is arid, with moderate summers and peaceful, snowy winters. Price’s Carbon School District serves approximately 3,500 students with five elementary schools, two middle schools and two high schools. Price is also home to Utah State University Eastern, a campus of Utah State University which has an enrollment of approximately 2,700.

Find out more about Price, Utah by visiting http://www.priceutah.net/

USU Eastern Prehistoric Museum

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2015. All rights reserved

Colliers International Boise | 755 W Front Street, Suite 300 | Boise, Idaho 83702 | 208 345 9000 | www.colliers.com/boise

GEORGE ILIFF208 472 [email protected]

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OFFERING MEMORANDUM WINGER’S BAR & GRILL absolute nnn