[ actual PHOTO ]

20-year NNN leasenext to a 2 million square foot Retail development383 Spectrum Loop, Colorado Springs, CO 80921

[ www.CapitalPacific.com ]

Taco Bueno

RentabLe SF . . . . . . . . . . . . . . . 2,850 SF

Land aRea . . . . . . . . . . . . . . . 41,111 SF

YeaR bUILt . . . . . . . . . . . . . . . 2016

CURRent Rent . . . . . . . . . . . . $35/SF

PRICE: $1,912,686CAP: 5.25%

Listing TeamContact Info

Zandy Smithzsmith@capitalpacific .com | (415) 274-2707CA BRE# 01792433

In Conjunction with CO Licensed Broker:David Leuthold, Leuthold Commercial Properties 303-871-9000 | david@leutholdcommercial .com

PROperty Summary

BRAND NEW FREESTANDING TACO BUENO WITH A RARE 20-YEAR LEASE, IN THE SECOND MOST POPULOUS CITY IN COLORADO. LOCATED RIGHT NEXT TO POLARIS POINTE, A 2 MILLION SQUARE FOOT MIXED-USE DEVELOPMENT

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[ actual PHOTO ] Taco bueno | 2

average households incomes are over $130,000 within the 1, 3 & 5 mile radii

core characteristicsThe subject property is located in Colorado Springs, CO, which has a population of nearly 440,000 residents, and is just 60 miles from downtown Denver . The site is off of Interstate 25 in a brand new retail corridor called Polaris Pointe .

POLARIS POINTEThe subject property is located at the Voyager Parkway entrance to the 2,000,000 square foot Polaris Pointe mixed-use development . Polaris Pointe is anchored by a 120,000 square foot Bass Pro and the new 350-room Colorado Grand Resort & Hotel (opens in the fall of 2016) . (See aerial p . 4-5) .

FEdEx TEchNOLOgy cENTER & US AIR FORcE AcAdEmyThe Taco Bueno property is located adjacent to the FedEx Corporate Technology Center that employs approximately 550 people . The US Airforce Academy is located directly across Interstate 25 on 18,500 acres and has approximately 4,000 students . Air Force Academy is also a major tourist attraction in Colorado that draws about one million tourists per year .

dENSE RESIdENTIAL AREANorthern Colorado Springs is considered one of the most vibrant and fastest growing areas in Colorado Springs, making it a popular choice for families with young children . The Northgate and Flying Horse Residential Developments are also nearby .

ExcELLENT dEmOgRAPhIcSAverage households incomes are over $130,000 in the 1, 3 & 5 mile radii and there are more than 40,000 people within a 5 mile radius .

NATIONAL TENANTTaco Bueno has 177 restaurants in TX, OK, AR, NM, LA, KS, MS and CO . Taco Bueno Restaurants, L .P . was recently acquired by TPG Growth, a middle market private growth investment platform that is backed by parent company, TPG, which has $75 billion of assets under management .

LEASE INFORmATIONRare 20-year primary lease term with 10% rental increases every five years in the primary term and four 5-year options .

NNN Lease = No Landlord responsibilities .

Store is opened for business and rent commences on May 15th, 2016 .

[ surrounding retail ] Taco bueno | 3

zoomed-out aerial

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opVoyager Parkway

nor

th G

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South Gate

boulevard

north Gate

boulevard

n Powers boulevard

25

25

25

83

21

87

THE CLUB AT FLYING

HORSE

Rampart High School

the Classical academy

High School

the Classical academy

Central Campus

da Vinci academy

Mountain Ridge Middle

School

academy International elementary

tHe PROMenade SHOPS at bRIaRGate

timberview Middle School

Liberty High School

CHaPeL HILLS MaLL

CHaPeL HILLS eaSt

CHaPeL HILLS WeSt

UnIVeRSItY VILLaGe

DENVER

25

12,741 DAILYNorth Gate Rd

63,500 DAILYUS HWY I-25

LOCATED ADjACENT TO THE FEDEx CORpORATE TECHNOLOGY CENTER. THE US AIRFORCE ACADEmY IS DIRECTLY ACROSS I-25

Taco bueno | 4

zoomed-in aerialTHE SUBjECT pROpERTY IS LOCATED AT THE VOYAGER pARkWAY ENTRANCE TO THE 2,000,000 SqUARE FOOT pOLARIS pOINTE mIxED-USE DEVELOpmENT

north Gate boulevard

pROpOSED pOWERS BOULEVARD

pROpOSED pOWERS BOULEVARD

bass

Pro

driv

e

Spectrum Loop

Mea

dow

gras

s dr

ive

Voyager Parkway

north Gate boulevard

25

25

COLORADO GRAND RESORT AND HOTEL

OPenInG FaLL 2016

COLORADO SpRINGS CITY CENTER

25

12,741 DAILY

63,500 DA

ILY

pROpOSED FUTURE

DEVELOpmENT

Taco bueno | 5

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

income & expense

PRICE $1,912,686 Price Per Square Foot: $671 .12

Capitalization Rate: 5 .25%

Total Rentable Area (SF): 2,850

Lot Size (SF): 41,111 SF

STABILIZED INCOME Per Square FootScheduled Rent $35 .23 $100,416

Effective Gross Income $35 .23 $100,416

LESS Per Square FootTaxes NNN $0 .00

Insurance NNN $0 .00

Total Operating Expenses NNN $0 .00

EQUALS NET OPERATING INCOME $100,416

Taco bueno | 6

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

RenTaLIncReaSeS

rent roll

TENANT INFO LEASE TERMS RENT SUMMARY

Tenant Name Sq . Ft . Term Current Rent

Monthly Rent

Yearly Rent

Monthly Rent/FT

Yearly Rent/FT

Taco Bueno 2,850 05/15/16 05/14/21 $100,416 $8,368 $100,416 $2 .94 $35 .23

05/15/21 05/14/26 $9,205 $110,458 $3 .23 $38 .76

05/15/26 05/14/31 $10,125 $121,503 $3 .55 $42 .63

05/15/31 05/14/36 $11,138 $133,654 $3 .91 $46 .90

Option 1 05/15/36 05/14/41 $12,252 $147,019 $4 .30 $51 .59

Option 2 05/15/41 05/14/46 $13,477 $161,721 $4 .73 $56 .74

Option 3 05/15/46 05/14/51 $14,824 $177,893 $5 .20 $62 .42

Option 4 05/15/51 05/14/56 $16,307 $195,682 $5 .72 $68 .66

Totals: 2,850 $100,416.00 $8,368 $100,416 $2.94 $35.23

[ fedex building - 100 yds north of subject property] Taco bueno | 7

SIte PLan KeY

PARCEL OUTLINE:

LAND AREA: 2,850 SF

BUILDING AREA: 41,111 SF

INGRESS/EGRESS:

site plan

Voyager Parkway

NOT A pART

This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. Taco bueno | 8

tenant overview

WWW.taCObUenO.COM

abOUt taCO bUenOTaco Bueno is a fast-food restaurant chain specializing in Tex-Mex style cuisine . The company operates 177 locations and opened 2 restaurants in CO in 2015 .

Taco Bueno Restaurants, L .P . is owned by San Francisco based TPG Growth, a middle market and growth equity investment platform of TPG, with more than $7 billion assets under management and committed capital .

Taco Bueno focuses on improving the consistency of store execution through newly implemented processes and procedures . The Bueno Way Audits, performed quarterly, measure over 600 individual items and are designed to ensure stores are meeting a comprehensive set of objectives . For example, the Engagement Score measures store managers’ participation in company initiatives that drive the financial performance of an individual location .

tPG GROWtHTPG Growth targets investments in a broad range of industries and geographies, with a significant focus on the U .S . and large emerging markets such as China, India, Brazil, Turkey, Africa and Southeast Asia . TPG Growth is the middle market platform for parent TPG, which has invested in a number of food service brands, including Burger King, Cafe Valley bakery products and Gary Farrell Winery, and such leisure-hospitality brands as Caesar’s Entertainment Corp . and Fairmount Raffles Holdings International .

LOCatIOnS 177

2014 ReVenUe$208 Million

eMPLOYeeS 3,856

Taco bueno | 9

2015 HOUSEHOLD INCOmES

pOpULATION

TOp EmpLOYERS IN COLORADO SpRINGS

demographics & regional map

COLORADO SPRINGS

Employer # of Employees*Schriever Air Force Base 4,500Memorial Hospital North 4,200Penrose Hospital 4,000Verizon Wireless 4,000Children’s Hospital Colorado 3,500City of Colorado Springs 2,400*Approximate

DENVER

1 HR 28 MIN68 MILES

1-mile 3-mile 5-mile

2010 3,863 19,550 43,5612015 5,104 23,337 48,3312020 5,954 26,520 52,665

1-mile 3-mile 5-mile

Average $133,633 $140,400 $137,853Median $110,103 $112,623 $110,283

12,741 DAILYNorth Gate Blvd

2,446 DAILYVoyager pkwy

Taco bueno | 10

abOUt COLORadO SPRInGS

Colorado Springs is the seat and most populous city in El Paso County, Colorado . The economy of Colorado Springs is based primarily on its military installations as well as the aerospace, electronics and tourism industries .

The military employs one fifth of the work force in the city with Fort Carson, a U .S . Army base . The U .S . Air Force Academy, Fort Peterson Air Force Base (AFB), and the North American Air Defense Command (NORAD) are major employers as well .

Colorado Springs is also a center for space research . The city is the site of the Combined Services Space Center and the Consolidated Space Operations Center, which are involved in the Strategic Defense Initiative and handle military missions of the Space Shuttle . The U .S . Space Foundation (USSF) and the Space Commands at Peterson AFB also provide a conducive environment for developing future space-related projects . As a result of growth in the aerospace industry, several high-technology firms have been attracted to Colorado Springs . Hewlett-Packard and 17 other major electronics companies, combined, employ nearly 10,000 workers in the area .

Since the turn of the century, when the city’s grand hotels made it famous, Colorado Springs has been a major tourism center . The U .S . Air Force Academy is the main man-made attraction in the state and Pikes Peak is a beautiful natural attraction . The city’s average gross income from tourism is near $1 billion, providing a substantial boost to the retail industry .

Most populous city in the county

location

Taco bueno | 11

A unique HUMANRESULTS-DRIVEN client experience

tHe CaPItaL PaCIFIC exPeRIenCe - OUR daILY COMMItMent tO OUR CLIentS

[ www.CapitalPacific.com ]

ZandY SMItHzsmith@capitalpacific .com | (415) 274-2707 CA BRE# 01792433

Zeb RIPPLezripple@capitalpacific .com | (415) 274-2702 CA BRE# 01242540

CHRIS KOStaneCKIck@capitalpacific .com | (415) 274-2701 CA BRE# 01002010

CHRIS PeteRScpeters@capitalpacific .com | (415) 274-2703 CA BRE# 01339983

[ Copyright © 2016 Capital Pacific LLC ]

Capital Pacific collaborates . Click here to meet the rest of our San Francisco team .

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[ ACTTUAL PHOTO ]

In Conjunction with CO Licensed Broker:David Leuthold, Leuthold Commercial Properties | (303) 871-9000 | david@leutholdcommercial .com