Representative Photo

OFFERING MEMORANDUM

Andrew FallonExecutive Managing Director703.787.4733 | afallon@calkain.com

7-ELEVEN (Ground Lease) Bristow, VA

Asset Summary

Net Operating Income (NOI) $138,999.96

Rent/Month $11,583.33

Rentable Square Feet 2,940+/- SF

Land Area 1.64+/- Acres

Tenant 7-Eleven, Inc.

Credit Rating S&P: AA-

Stock Symbol SVNDF

Guarantor Corporate

Lease Type NNN, Ground Lease

Landlord Responsibilities None

Estimated Completion December 1, 2018

Lease Term Remaining 15 Years

Rent Commencement February 4, 2019 *

Lease Expiration February 28, 2034

Increases 10% Every 5 Years

Options Four (4), Five (5) Year

Rent ScheduleTerm Increases Annual Rent Monthly Rent

2/4/2019 – 2/28/2024 - $138,999.96 $11,583.33

3/1/2024 – 2/28/2029 10% $152,900.04 $12,741.67

3/1/2029 – 2/28/2034 10% $168,189.96 $14,015.83

3/1/2034 – 2/28/2039* 10% $185,009.04 $15,417.42

3/1/2039 – 2/28/2044* 10% $203,509.92 $16,959.16

3/1/2044 – 2/28/2049* 10% $223,860.84 $18,655.07

3/1/2049 – 2/28/2054* 10% $246,246.96 $20,520.58

Asking Price$2,866,000

Cap Rate 4.85%

10231 Carnoch WayBristow, VA 20136

*Option periods

* Rent shall commence when store opens, no later than February 4, 2019

Calkain Companies | 2

7-Eleven | Financial Summary

Investment Highlights

• Absolute NNN Ground Lease - 7-Eleven signed a 15-year ground lease to operate at this location. The absolute NNN lease is completely passive. 7-Eleven is responsible for payment of real estate taxes and insurance, and is also obligated to maintain, repair and replace all aspects of the property.

• Investment Grade Credit - This lease is corporately signed by 7-Eleven, Inc. The Tenant’s credit is rated AA- by Standard & Poors. 7-Eleven is the World’s largest operator of convenience stores with 66,579 units worldwide.

• Long Term Lease – Construction is estimated to be completed by 4th quarter 2018 with an outside rent commencement date of February 4, 2019, and the primary lease term runs through February 2034. There are 15 years on the lease, followed by four consecutive 5-year option periods.

• 10% Rent Increases - 7-Eleven’s rent is structured with 10% increases every 5 years. The next rent bump occurs on March 1, 2024 when rent will increase to $152,900.04.

• Location & Visibility - 7-Eleven is located on the northwest corner of Sudley Manor Drive (22,000 VPD) and Vint Hill Road (9,000 VPD), and multiple points of ingress/egress.

• Strong Demographics - Within 3-miles of the property, the population is 75,272 and the average household income is $136,106.

• Washington, DC MSA - Bristow, VA is located 39-miles from Washington, DC which is the 6th largest metropolitan area in the nation.

Construction as of September 25, 2018

Calkain Companies | 3

7-Eleven | Investment Highlights

Hollywood

Baltimore, MD

Washington, DC

Bethesda, MD

Alexandria, VAAnnandale, VA

Reston, VA

Bristow, VAManassas, VA

66

495495

270

95

Subject Site

Manassas, VA 7 miles

Reston, VA 25 miles

Washington, DC 39 miles

Bethesda, MD 39 miles

Alexandria, VA 43 miles

Baltimore, MD 76 miles

Calkain Companies | 4

Location Overview

Distance To

Keep all map content (except background) above this margin for website cropping purposes

Noke

sville

Rd 15

,000 V

PD

Nokesville Rd 38,000 VPD

BRISTOW

Bristow Center

Center at Innovation

ManassasRegionalAirport

PatriotHigh School

2,817 Students Grizzly’sSports Complex

T. Clay WoodElementary School

930 Students

Cedar PointElementary School

627 Students

EH MarstellarMiddle School1,298 Students

39 Miles to Washington, DC

Vint Hill Rd 9,000 VPD

Subject Site

Braemar Village Center

10231 Carnoch Way | Bristow, VA 20136

Location Highlights

Bristow is an unincorporated community of Prince William County in Northern Virginia about 30 miles from Washington, DC. In 2014, Bristow’s postal area population was 29,346, a 287% increase since 2000.

Keep all map content (except background) above this margin for website cropping purposes

Vint Hill Rd 9,000 VPD

Sudl

ey M

anor

Dr 2

2,00

0 VP

D

Carn

och

Way

EH MarstellarMiddle School1,298 Students

Subject Site

10231 Carnoch Way | Bristow, VA 20136

Calkain Companies | 7

Site Plan

1 Mile 3 Miles 5 MilesPopulation2018 Population 7,136 42,820 75,272

2023 Population 7,312 47,850 82,331

2018 Median Age 34.8 32.9 33.7

Households2018 Total Households 2,215 12,195 23,274

2023 Total Households 2,258 13,502 25,191

Median Household Income2018 Median HH Income $123,240 $128,918 $114,069

2023 Median HH Income $133,897 $140,651 $123,940

Average Household Income2018 Average HH Income $144,643 $152,021 $136,106

2023 Average HH Income $165,330 $174,238 $157,201

Population 42,820

Median Age 32.9

Avg HH Income $152,021

Total Businesses 651

Total Employees 7,661

Net Worth $473,188

3 Mile Radius | Demographics

66

Location Overview, 1/3/5 Miles

Calkain Companies | 8

Tenant Snapshot

# of Total Locations

66,579

Stock Symbol

SVNDF

Credit Rating

S&P: AA-

2017 Revenue

$52Bil

Year Founded 1927

About 7-Eleven

Known for bladder-busting beverages Slurpee and Big Gulp, 7-Eleven operates more than 11,500 company-owned or franchised convenience stores in the US, Canada, and Mexico under the 7-Eleven name. Its parent company, Seven-Eleven Japan Co., Ltd., operates, franchises, and licenses 66,579 stores in 17 countries as of 30 June 2018.Seven-Eleven Japan is headquartered in Chiyoda, Tokyo and held by the Seven & I Holdings Co. In addition to its iconic beverages, the chain sells thousands of other traditional convenience items (many under its own private-label brand), as well as sandwiches, salads, pizza, cut fruit, and other ready-to-eat foods. Some locations sell gasoline and offer services such as bill payment and self-service lockers.

7-Eleven aggressively adds new stores, particularly targeting high-growth regions. This is achieved through organic store openings (about 500 total in 2016 and 2017) and acquisitions, including a 2018 purchase of more than 1,000 stores in more than 15 US states.

The company has plans for nearly 1,000 new organic store openings through 2019. In addition to new store growth in North America, the company is working to expand the 7-Eleven name into new countries and regions.

In early 2018, 7-Eleven added significantly to its North American store portfolio with the $3.3 billion acquisition of more than 1,000 Sunoco convenience stores across some 15 US states. The deal, which is the largest in the company’s history, supports its strategy of accelerated store growth.

• 7-Eleven is ranked #1 on Entrepreneur magazine’s 2017 Top 500 Franchises List

• 7-Eleven ranked on Fast Company magazine’s World’s Top 10 Most Innovative Companies in Retail

Calkain Companies | 9

Tenant Overview

About UsCalkain Companies LLC is a boutique commercial real estate investment banking firm that provides consulting and brokerage services to both private and institutional clientele with a focus on single tenant net lease investments. It prides itself on being an innovative leader by providing its clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, debt and equity placement and wealth management.

Calkain has built solid, lasting relationships that have been the cornerstone of how they do business. Calkain approaches each assignment with an eye toward each client’s individual needs. Whether private or institutional investors, Calkain delivers real estate solutions that maximize value while building wealth for all of its clients.

At Calkain, their foresight and innovation are leading the net lease investment industry.

Building a solid foundation for your investment portfolio

calkain.com

Disclaimer: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) 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(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make 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.

$12 Billion in Closed Transactions

$400 Million

in Active Listings

Washington, DC 12930 Worldgate Dr Ste 150 | Herndon, VA Tel: 703.787.4714

Fort Lauderdale 200 SW 1st Ave Ste 880 | Fort Lauderdale, FL Tel: 813.282.6000

Atlanta 111 Village Pkwy, Bldg 2 Ste 202 | Marietta, GA Tel: 404.900.5629

Boston 101 Federal St Ste 1900 | Boston, MA Tel: 617.261.8584

Philadelphia 3477 Corporate Pkwy Ste 100 | Center Valley, PA Tel: 610.410.5410

New York 205 E 42nd St 14th Fl | New York, NY Tel: 646.736.5783