J a c k i n t h e B o x , B a t o n R o u g e , L A | 1O F F E R I N G M E M O R A N D U M

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Jack in the Box1 1 3 1 0 A i r l i n e H w y | B a t o n R o u g e , L A

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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

B e a u B o xBROKER OF RECORDLIC # BROK.0000072286.A-ACT

c o n n o r o l a n d t

Associate

Connor.Olandt@matthews.comDIR (949) 432-4504MOB (818) 618-4522LIC # 01985082 (CA)

C a lv i n S h o r t

FVP & Senior Director

Calvin.Short@matthews.comDIR (949) 432-4506MOB (310) 567-3525LIC # 01927216 (CA)

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• Corporate Lease guaranteed by Jack in the Box (JACK: NASDAQ, $3.05 Billion Market Cap)

• Absolute NNN – no landlord responsibilities

• Attractive 11.50% Cap Rate

• Tenant has interest in renewing the Lease (See broker for details)

• Hard Corner - ideally situated at a signalized intersection which sees over 87,000 VPD!

• Baton Rouge is home to Louisiana State University and has over 177,000 people in a 5-mile

radius

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

J a c k i n t h e B o x , B a t o n R o u g e , L A | 5

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f i n a n c i a lo v e r v i e w

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J a c k i n t h e B o x11310 Airline HwyBaton Rouge, LA 70816

List Price ...................................................................................... $1,886,950

CAP Rate - Current ............................................................................. 11.50%

Gross Leasable Area ................................................................. ± 2,855 SF

Lot Size ....................................................................................... ± 1.14 Acres

Year Built/Renovated .................................................................1992/2000

Annualized Operating DataMonthly Rent Annual Rent Rent/SF Increases

Current - 6/26/2018 $18,083.33           $217,000 $76.01 11.50%

Option 1

*CPI (max 8.00%) every 5 YearsOption 2

Option 3

Option 4

Tenant Summary

Tenant Trade Name Jack in the Box

Type of Ownership Fee Simple

Lease Guarantor Corporate JACK

Lease Type Absolute NNN

Roof and Structure Tenant Responsible

Original Lease Term 18 Years

Lease Commencement Date 6/27/2000

Rent Commencement Date 6/27/2000

Lease Expiration Date 6/26/2018

Term Remaining on Lease ± 1 Years

Increases CPI (max 8.00%) every 5 Years

Options Four, 5-Year Options

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

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Company Name Jack in the Box Inc. (NASDAQ: JACK)

Ownership Public

No. of Locations ± 2,250

No. of Employees ± 22,200

Website www.jackinthebox.com

Headquartered San Diego, California

Year Founded 1951

JACK IN THE BOX OVERVIEWJack in the Box is among the leading quick-service restaurant businesses in the US. The company operates and franchises about 2,250 of its flagship hamburger outlets in California, Texas, and more than 20 other states. Jack in the Box offers such standard fast-food fare as burgers, fries, and soft drinks, as well as salads, tacos, and breakfast items. About 415 locations are company-owned, while the rest are franchised. In addition to its mainstay burger business, the company runs a chain of more than 660 Qdoba Mexican Grill fast-casual eateries through its Qdoba Restaurant subsidiary.

STRATEGYUnlike some of its fast-food rivals, Jack in the Box has traditionally had a large number of corporate locations compared to its franchised outlets. In recent fiscal years, the company has moved towards refranchising more locations to bring its franchise ownership rate closer to 80%. Jack in the Box leans on quirky marketing efforts and an almost constant stream of new menu items. Additionally, Jack in the Box has also been working to upgrade many of its outlets with modern interior designs, complete with flat-screen televisions and ceramic tile floors.

1 0 | O f f e r i n g M e m o r a n d u m

Oceanside Blvd ± 31,792

Col

lege

Blv

d ±

40,11

6

t h e o f f e r i n g

Property Name Jack in the Box

Property Address 11310 Airline HwyBaton Rouge, LA 70816

Assessor’s Parcel Number P70 01003 0004

Site DescriptionNumber of Stories One

Year Built/Renovated 1992/2000

Gross Leasable Area (GLA) ± 2,855 SF

Lot Size ± 1.14 Acres (49,658 SF)

Type of Ownership Fee Simple

Landscaping Professional

Topography Generally Level

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P a r c e l M a p

Airline Hwy ± 53,000 ADT

Siegen Ln ± 34,000 ADT

1 2 | O f f e r i n g M e m o r a n d u m

Subject Property

Orso Design

Superior Bait and

Tackle

Flowserve Corporation

Clegg’s Nursery

Grabince Granite

Commercial Fleet

Services

Bozeman Distributors

J a c k i n t h e B o x , B a t o n R o u g e , L A | 1 3

Subject Property

Grabince Granite

Commercial Fleet

Services

Clegg’s Nursery

Parkview Baptist Church

FMOL Health System

Electronics Store Devonshire

Apartments

1 4 | O f f e r i n g M e m o r a n d u m

a r e a o v e r v i e w

Situated on the Mississippi River, Baton Rouge represents the best of Louisiana’s vibrant culture. The state capital, Baton Rouge is a thriving city that is home to both LSU and Southern University and numerous businesses and industrial facilities. Known for its unique food and its lively music, Red Stick has something for everyone - including a local government that cares. Baton Rouge is Louisiana’s Capital City and the hub of all things Louisiana. Baton Rouge is centrally located just an hour from both New Orleans and Lafayette. Baton Rouge is the perfect city to explore all of the culture Louisiana has to offer. Baton Rouge houses over 300 years of history that can be tasted in delectable food, seen throughout the distinct architecture and learned through unique culture.

B at o n R o u g e , L A

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

POPULATION 1 Mile 3 Mile 5 Mile

2022 Projection 8,215 73,286 181,605

2017 Estimate 7,968 71,103 177,102

2010 Census 7,739 68,686 172,546

2000 Census 6,432 59,741 152,899

Growth 2017 - 2022 3.10% 3.07% 2.54%

HOUSEHOLDS 1 Mile 3 Mile 5 Mile

2022 Projection 3,516 32,349 75,943

2017 Estimate 3,418 31,285 73,795

2010 Census 3,338 30,040 71,383

2000 Census 2,722 25,285 61,788

Growth 2017 - 2022 2.87% 3.40% 2.91%

Growth 2010 - 2017 2.40% 4.14% 3.38%

INCOME 1 Mile 3 Mile 5 Mile

2017 Est. Average Household Income

$84,760 $84,119 $87,913

J a c k i n t h e B o x , B a t o n R o u g e , L A | 1 5

e c o n o m y

Baton Rouge enjoys a strong economy that has helped the city be ranked as one of the “Top 10 Places for Young Adults”. The Baton Rouge’s metro area’s economy is growing at a faster rate than predicted. In the past two years, Baton Rouge has seen above 3% in job growth. The Baton Rouge area’s job growth has outperformed peer cities like Austin, Birmingham, and Columbia. The regional added around 9,000 jobs in the 2016 and forecasts to add another 6,000 jobs in 2017.

Employers Employees

State of Louisiana 22,120

Turner Industries 9,671

East Baton Rouge Parish Public Schools 6,250

Louisiana State University 5,600

City of Baton Rouge 4,612

T o p E m p l o y e r s - B at o n R o u g e

H i g h e r e d u c at i o n

Louisiana State University and Agricultural and Mechanical College, generally known as Louisiana State University is a public, coeducational university that is the flagship campus of the Louisiana State University System. Enrollment stands at over 31,000 students, with 1,300 full-time faculty members.

Southern University and A&M College are a part of the only historically black land grant university system in the United States. Southern became a land-grant school in 1890, and an Agricultural and Mechanical department was established. The university is the largest HBCU in Louisiana. Virginia college opened in October 2010 and offers students training in areas like Cosmetology, Business, Health and Medical Billing.

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The Old State Capitol offers a look into Louisiana’s rich culture. The National Historic Landmark stands high on a bluff overlooking the Mississippi River. It houses the Old State Capital Museum of Political History that contains several state of the art exhibits. The “Castle on the River” is the recipient of distinguished awards for architecture and exhibit design. Atop the cast iron staircase offers a view of the stained glass cathedral dome in the unique blend of Gothic and Victorian architecture.

The Baton Rouge Zoo is the perfect place for family-friendly fun all year long. The zoo is home to animals from around the world including tigers, black rhinos, flamingos, alligators and giraffes. The Baton Rouge Zoo also takes strides in the conversation and protection of animals by participating in 30 international Species Survival Plans for critically endangered species. The zoo also hosts a number of events throughout the year including the Zoo Lights and Brew at the Zoo, among others.

LSU sports and particularly the football program have a huge economic impact in Baton Rouge. An LSU football game is a huge attraction. Tiger Stadium has become the fifth largest stadium in the nation and packs nearly 100,000 fans. LSU home football games are events talked about year round and happenings in Tiger Stadium are passed down from generation to generation. Poll after poll has proclaimed Tiger Stadium as one of the greatest sites anywhere for a football game - college or professional.

old louisiana state capitol

Baton Rouge zoo

LSU Tiger Stadium

P o i n t s o f I n t e r e s t

This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Jack in the Box located at , Baton Rouge, LA 70816 (“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

J a c k i n t h e B o x , B a t o n R o u g e , L A | 1 9

BROKER OF RECORD

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

Jack in the Box1 1 3 1 0 A i r l i n e H w y | B a t o n R o u g e , L A

™

B e a u B o xBROKER OF RECORDLIC # BROK.0000072286.A-ACT

c o n n o r o l a n d t

Associate

Connor.Olandt@matthews.comDIR (949) 432-4504MOB (818) 618-4522LIC # 01985082 (CA)

C a lv i n S h o r t

FVP & Senior Director

Calvin.Short@matthews.comDIR (949) 432-4506MOB (310) 567-3525LIC # 01927216 (CA)