Offering Memorandum

TACO BELLColumbus, GA

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to

be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other

person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to

provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of

interest in the subject property. The information contained herein is not a substitute for a thorough due diligence

investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with

respect to the income or expenses for the subject property, the future projected financial performance of the

property, the size and square footage of the property and improvements, the presence or absence of contaminating

substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the

improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or

intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure

has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not

verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding

these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the

information provided. All potential buyers must take appropriate measures to verify all of the information set forth

herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016

Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in

this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply

affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or

subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for

the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

TACO BELL

Columbus, GA

ACT ID X0130185

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EXECUTIVE SUMMARY

OFFERING SUMMARY

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TACO BELL

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TACO BELL

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OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER# OF EMPLOYEES

*

Staffing Solutions 5,488

Total System Services Inc 4,482

AFLAC 3,981

Columbus Regional Health 1,811

Columbus Regional 1,500

Medical Center 1,341

Walmart 1,150

George G Kerasotes Corporation 1,000

L&S Services LLC 900

McDonalds 752

Kelloggs 675

Police Department 650

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2015 Estimate Pop 7,909 82,569 171,332

2010 Census Pop 7,342 77,435 159,796

2015 Estimate HH 3,145 34,249 68,793

2010 Census HH 2,910 32,021 63,980

Median HH Income $45,080 $34,064 $35,443

Per Capita Income $28,203 $20,651 $20,580

Average HH Income $68,845 $49,198 $49,914

* # of Employees based on 5 mile radius

OFFERING SUMMARY

Price $920,000

Net Operating Income $78,877

Capitalization Rate – Current 8.57%

Price / SF $491.98

Rent / SF $42.18

Lease Type NNN

Gross Leasable Area 1,870 SF

Year Built / Renovated 1988

Lot Size 0.66 acre(s)

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OFFERING SUMMARY

INVESTMENT HIGHLIGHTS

Absolute Net Leased Taco Bell with Drive-Thru

Guaranteed by Largest Taco Bell Franchisee, Tacala LLC

One Percent Annual Rent Increase

Approximately 8.3 Percent Rent-to-Sales Ratio

+317,000 Residents in the Columbus Area

Marcus & Millichap is pleased to present an Absolute Net Leased Taco Bell located at 3527 Macon Road in Columbus, Georgia. The lease is

guaranteed by Tacala LLC, which is one of the largest Taco Bell franchisees in the United States (+/- 260 stores). The initial 15-year lease

executed by Tacala LLC has slightly less than four years left remaining on the base term with one 10-year and two 5-year options to renew.

The rent increases annually at one percent.

The property is 1,870 square feet of building space and sits on 28,750 square feet of land. Macon Road is a heavily trafficked retail corridor just

off interstate 185. Nearby national retailers include CVS, Walgreens, Publix, Ross, Big Kmart, TJ Max, and others.

The Columbus Georgia region has a population of approximately 316,000 and is centrally located in the automotive and aerospace corridors of

the southeast, where there has been substantial population and employment growth over the past five years. Today, several well-known

companies have their headquarters in the Region, including Aflac, Carmike Cinemas, Masterbuilt, Realtree, Synovus, TSYS, and the W.C

Bradley Company. In addition, internationally-recognized companies like Heatcraft Kysor/Warren, Kia, NCR, Pratt and Whitney, and Synder’s-

Lance have major operations in the Region as well.

INVESTMENT OVERVIEW

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TACO BELL

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PROPERTY SUMMARY

OFFERING SUMMARY

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TACO BELL

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OFFERING SUMMARY

OFFERING SUMMARY

Property Taco Bell

Property Address 3527 Macon Road

Columbus, GA 31907

Price $920,000

Capitalization Rate 8.57%

Price/SF $491.98

TENANT SUMMARY

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Fiscal Year Ended December 26, 2015

PRICING AND VALUATION MATRIX

PROPERTY NAMETACO BELL (TACALA LLC)

PRICING AND VALUATION MATRIX

PROPERTY NAMETACO BELL

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TENANT SUMMARY

FRANCHISOR – TACO BELL

Taco Bell is an American fast food chain based in Irvine CA, and

is a subsidiary of Yum! Brands Inc (NYSE: YUM). Taco Bell

serves more than 2 billion customers each year in 6,975

restaurants, more than 80 percent of which are owned and

operated by independent franchisees and licensees. Taco Bell is

the 5th largest quick service restaurant in the United States in

terms of number of locations and sales volume. In 2015 Taco

Bell’s U.S system wide sales reached close to $9 Billion

Yum! Brands (NYSE: YUM) recently revealed plans to expand its

Taco Bell brand over the next six years. The company plans to

have 8,000 stores in the U.S. by the end of 2022

FRANCHISEE – TACALA LLC

When Dick Reese and Don Ghareeb first inquired about getting into

the Taco Bell business in 1988 in Alabama, there were only 2,700

Taco Bell locations in the United States. Taco Bell locations have

more than doubled in the past 24 years and Tacala has grown

exponentially from one location in Columbiana, AL in 1989 to 268

locations in the Southeast and Texas. At the end of 2012, Altamont

Capital Partners, a private equity firm with $500 million of capital

under management, acquired majority ownership in Tacala. Don

Ghareeb, Tacala Chairman Emeritus, assembled a strong team to

continue the ideals that Dick and Don espoused from the

beginning: take care of your customers, take care of your teams,

and be good community partners. Tim Morrison, President since

early 2012 leads the company on a day-to-day basis in partnership

with Joey Pierson, Executive VP/CFO, and members of the

Executive Team who work to ensure that we continue to grow to

provide our customers with a great experience and our teams with

strong opportunities for growth and development.

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CLOSE PROXIMITY TO:

3527 Macon Road, Columbus, GA 31907

NNN Lease - No Landlord Responsibilities

Guaranteed by Tacala LLC (250+ Stores)

Well-Located, Two Blocks East 185

Near Employers and National Retailers

Centrally Located Southeast Automotive

Nearby Pacelli High School

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMETACO BELL

PRICING AND VALUATION MATRIX

PROPERTY NAMETACO BELL

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LOCATION OVERVIEW

The subject property is located right off

the Macon Rd exit for the Interstate 185

freeway. Surrounded by National Retailers

such as McDonalds, Rite Aid, Office Max,

Burger King, etc..

Burger King

McDonalds

LOCATION OVERVIEWTACO BELL

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MARKETING TEAM

Source: © 2015 Experian

PROPERTY NAME

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CREATED ON JANUARY 20, 2017

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMETACO BELL

PRICING AND VALUATION MATRIX

PROPERTY NAMETACO BELL

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DEMOGRAPHICS

1 Miles 3 Miles 5 Miles

POPULATION

2020 Projection 7,958 83,225 173,6812015 Estimate 7,909 82,569 171,3322010 Census 7,342 77,435 159,7962000 Census 7,175 81,139 162,281

INCOME

Average $68,845 $49,198 $49,914Median $45,080 $34,064 $35,443Per Capita $28,203 $20,651 $20,580

HOUSEHOLDS

2020 Projection 3,176 34,739 70,3172015 Estimate 3,145 34,249 68,7932010 Census 2,910 32,021 63,9802000 Census 3,016 32,984 63,756

HOUSING

2015 $147,715 $112,612 $116,653

EMPLOYMENT2015 Daytime Population 12,298 107,959 198,394

2015 Unemployment 6.71% 8.18% 7.91%2015 Median Time Traveled 18 19 20

RACE & ETHNICITY

White 58.34% 38.25% 41.25%Native American 0.09% 0.15% 0.17%African American 35.38% 54.37% 50.98%Asian/Pacific Islander 1.17% 1.28% 1.48%