Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 www.coopergrp.com

Bob Havasi bhavasi@coopergrp.com (216) 562-1981 x10

Dan Cooper dcooper@coopergrp.com (216) 562-1981 x12

2

INVESTMENT SUMMARY

Investment Highlights …...………… 4

Investment Overview .……..………. 5

Location Overview …………...……. 6

Offering Summary …………….….… 7

Tenant Overview ………………..….. 8

PROPERTY ANALYSIS

Site Plan ………….………….……… 10

Aerial Map …….………...……….…. 11

Location Maps .…………………..…. 12

Demographics ..………………...…... 13

Disclosure & Confidentiality ........…. 14

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• Single-Tenant Location with Growing, Popular Restaurant Concept: Original 10-Year NNN Lease with Parent Company Guaranty, 2023 Rental Bump and 8 Years of Term Remaining

• Strong Demographics in One of Columbus’ Most Affluent and Heavily Populated Suburbs: Average Household Incomes $113k+ and 217,800 Residents Within 5-Miles and Only 9 Miles NW of The Ohio State University (66,000+ Students & 28,000 Faculty)

• Top Performing Store in Chain, with Rent-To-Sales Ratio of 6.45% (Trailing 12 Months Sales)

• 2018 Construction with Excellent Curb Appeal, Modern Interior Design, Highly Visible Monument Signage and Newer Roof (Transferable Warranty)

• Positioned in an Extremely High Barrier to Entry Market in the Desirable Dublin Retail and Commercial Corridor

• Heavy Concentration of Complimentary Retailers Within a 1-Mile Radius: Directly in Front of Karric Square Shopping Center, While Being Adjacent to Key Bank and Across from Northbridge Plaza Featuring FedEx, Great Clips, Element Salon, AllState, Yoshi’s Japanese and Bonefish Grill

4

INVESTMENT HIGHLIGHTS

The Rail Burger - Dublin, OH

• Unbeatable Location Immediately Off I-270 (107,634 VPD) at Route 33 (61,336 VPD) with Extremely High Daytime Population: Over 545,600 Employees with 10 Miles

• Desirable Community with #2 Rated School System in the State of Ohio and 1-Mile to the New Bridge Park Neighborhood, an Upscale Mixed-Use Setting with Residential Homes, Retail, Services and Many Amenities

• State Capital and Located Only 7 Miles Northwest of The Ohio State University (66,000+ Students & 28,000 Faculty Providing a Very Stable Economic Base

• Immediate Vicinity of Well-Known Dublin Retail Mecca Tuttle Crossing, Along with Being Just Minutes From Lowes, Whole Foods, Nordstrom Rack, DSW, Ashley Furniture, Michael’s, Panera Bread, Hobby Lobby, Advance Auto Parts, Mattress Firm, Starbucks and Many More Complimentary Retailers

ADDITIONAL HIGHLIGHTS

5

INVESTMENT OVERVIEW

The Cooper Commercial Investment Group has been exclusively retained by

ownership to sell the 100% fee simple interest in the single-tenant, up and coming

restaurant, The Rail, location in the desirable and upscale community of Dublin/

Columbus, Ohio. The property is being offered for $2,307,000, representing a 7.00%

CAP Rate. The Rail, a gourmet burger bar known for championing creative

American fare and Ohio craft brews continues to grow the popular concept and now

has five locations. In fact, the owners of The Rail hand-picked this particular location

for its concept expansion in the central Ohio market. The property’s lease

commenced March 1, 2018 on a new 10-year NNN structure taking them out to 2028

with a mid-term rental increase during the term. The newer 2018 construction has an

attractive, modern curb appeal on the outside and a contemporary interior design.

The restaurants location in an irreplaceable Dublin location seconds from I-270 and in

the retail mecca is a destination point to the surrounding community. The Dublin area

is home to more than 3,000 businesses and known for its strict building requirements,

making it a high barrier to entry community. The Rail is just a few minute drive to the

new Bridge Park neighborhood. The new upscale community offers residents a mixed

-use setting with luxury townhomes/apartments, retail, services and many other

amenities. The restaurant is positioned directly in front of Karric Square Shopping

Center, while being adjacent to Key Bank and across from Northbridge Plaza. The Rail

is also positioned near the Mall at Tuttle Crossing, a highly recognizable regional

shopping hub. The area is also flush with other complimentary retailers as well,

including: Starbucks, Lowes, Dublin Village Center, Sun Center that is home to Whole

Foods, Nordstrom Rack, DSW, Ashley Furniture, Michael’s, Panera Bread, Trader

Joe’s, Old Navy, Five Below, Hobby Lobby, Mattress Firm, Petco and many more,

along with other area retailers Party City, AMC Theatres, Honda of Dublin, Big Lots,

Chipotle, Fresh Thyme Farmer’s Market and many more. The heavy concentration of

other national retailers within a 1-mile radius makes the property one of the most

desirable locations between the suburbs and the capital city of Columbus.

The featured asset is surrounded by an economically strong residential community

with average household incomes of over $113,000 and a whopping population of

close to 218,000 residents within 5-miles. The Dublin School district is one of Ohio's

highest achieving districts, rated recently as high as #2 in the State of Ohio. Dublin is

home to the headquarters of a number of major companies, including Cardinal Health,

IGS Energy, Stanley Steemer, Wendy's, OCLC, Pacer Intl. and MindLeaders. Other

organizations with significant operations include Ashland Inc., Nationwide Insurance

and Dublin Methodist Hospital, part of the OhioHealth system. The property sits

immediately west of The Ohio State University Airport and conveniently located with

direct access to I-270 which encircles Columbus and connects with other area

highways including I-71, I-70, I-670 and Route 315, the direct route to Downtown.

Additionally, The Ohio State University (7 miles) boasting more than 66,000 students

and 28,000 faculty/staff is only a short commute away along with the state capital’s

government provides a robust, stable economic base for all of Columbus. Coupling all

of the attributes, the offering provides an investor a rare opportunity in today’s market

to purchase a superior location, stable tenancy and curb appeal, poised to be a

quality investment for many years to come.

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Dublin, Ohio, is a progressive, well-educated and innovative city surrounding the Scioto River in the northwest area of metropolitan Columbus. The property is located less than a mile from I-270, the beltway loop freeway in the Columbus metropolitan area, commonly known locally as "The Outerbelt," or the "Jack Nicklaus Freeway." The western (and eastern) terminus of I-270 is at the junction with I-71, which starts in Cleveland, Ohio and runs south through the cities of Columbus, Cincinnati and ends in Louisville, Kentucky. I-270, along with I-670, provides access to John Glenn Columbus International Airport, located 19 miles from the property and a direct route to The Ohio State University, 7 miles away. Dublin has long been recognized as a premier community, not only locally, but also internationally. Dublin is home to more than 3,000 businesses and home to Ohio’s largest corporation, Cardinal Health – 21 on the Fortune 500 list. Dublin is also the headquarters of the Wendy’s Company, Ashland Inc. and OCLC. Dublin’s diverse and sound economic base provides the foundation for the present and future stability of the City. The city’s continued economic vitality is the result of quality development, strategic planning and aggressive efforts to attract and retain high-quality commercial development. Dublin also is known as a leader in municipal innovations, including tax increment financing, Dublink Broadband and green initiatives. Dublin’s healthy resources are necessary to keep pace with the city’s growth and the high quality of life enjoyed by Dublin’s corporate and residential citizens. The City annually hosts Jack Nicklaus’ PGA Tour Memorial Tournament at Muirfield Village Golf Club and one of the nation’s largest Irish cultural events – the Dublin Irish Festival. Dublin is home to three high schools that are consistently ranked among the top high schools in the country within a school system recently ranked #2 in the state. With 25 institutes of higher learning in Central Ohio, including Ohio University at Dublin, Columbus State’s Dublin Regional Learning Center and The Ohio State University in nearby Columbus, the region offers a pipeline to 115,000 college students and 20,000 annual graduates. Many residents in the area work in Downtown Columbus or one of its immediate suburbs (New Albany, Powell, Upper Arlington, Westerville, and Marysville). The Columbus area is said to be one of the best places to live in the U.S., according to CNN/Money Magazine. Since receiving that distinction, the accolades have continued to pile up. To the northwest of Dublin, Marysville is home to the headquarters for Scotts Miracle-Gro Company, the largest producer in the world of horticulture products. Scotts Miracle Gro has their R&D operations located on the 800-acre corporate campus, which employs more than 1,000 people. Marysville is also the location of major Honda operations, which employs more than 4,200 people at its 3.6 million square foot plant. The Columbus employment landscape shows that with the State of Ohio, The Ohio State University, and the United States Government accounting for an estimated 55,000 to 60,000 employees, combined with Columbus City Schools, the City of Columbus, and Franklin County, the estimated number swells to about 80,000 employees. The city has a diverse economy and is home to the Battelle Memorial Institute, the world's largest private research and development foundation; Chemical Abstracts Service, the world's largest clearinghouse of chemical information; and NetJets, the world's largest fractional ownership jet aircraft fleet. The city has the headquarters of five corporations in the U.S. Fortune 500: Nationwide Mutual Insurance Company, American Electric Power, Big Lots and Cardinal Health. The fast-food corporation of White Castle is also based in the Columbus, Ohio metropolitan area. Columbus is also home to Abercrombie & Fitch and Bob Evans. Additionally, the Columbus area offers a wide range of financial institutions that supply employment to Central Ohio. JPMorgan Chase is the area's largest financial employer, with Huntington Bank having a headquarters and with significant presence by banks such as KeyBank, Fifth Third, National City Corp. (PNC), Park National Corporation, and Commerce National Bank. In addition to Nationwide, other insurance-based companies in Central Ohio include Motorists Insurance, Grange Insurance, Safe Auto Insurance, and State Auto Insurance.

LOCATION OVERVIEW

Top Dublin Employers # of Employees

Nationwide 5,873

Cardinal Health 4,800

Medco Health Solutions 2,032

Dublin City School District 1,793

OhioHealth 1,680

Fiserv 884

Ashland 750

CareWorks 750

Online Computer Library Center 730

NCO 605

Nexeo Solutions 550

Smiths Medical 525

Centurylink 500

Pacer International 450

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Price:

Gross Leasable Area:

NOI:

CAP Rate:

Year Built:

Lot Size:

Parking:

Foundation:

Exterior:

Roof:

$2,307,000

4,580 S.F.

$161,500

7.00%

2018

Approx. 0.915 Acres

Approx. 66 Spaces

Concrete

Brick/Block

20 Yr. Transferrable Warranty

Tenant Name:

Guaranty:

Lease Type:

Remaining Lease Term:

Tenant Since:

Commencement Date:

Lease Expiration Date:

Option to Extend:

Rental Increase (s):

Options to Terminate:

Right of First Refusal:

Sales Threshold (% Rent):

Roof:

HVAC:

Parking Lot R&M:

Common Area Maintenance:

Real Estate Taxes:

Insurance:

Structure:

The Rail

TRB Hospitality, LLC

Triple Net (NNN)

8 Years

2018

03/01/2018

02/28/2028

(2) 5-Yr. Options

03/01/2023

None

Yes—14 Days

5% Above $3MM

Landlord Responsibility

Tenant Responsibility

Tenant Reimburses Landlord

Tenant Reimburses Landlord

Tenant Reimburses Landlord

Tenant Reimburses Landlord

Landlord Responsibility

TENANT SUMMARY

$13,458.33

$14,804.33

$16,284.00

$17,913.17

$161,500.00

$177,651.96

$195,408.00

$214,958.04

Current:

Bump 3/1/2023:

Option 1:

Option 2:

$35.26

$38.79

$42.67

$46.93

Rental Income:

Reimbursements:

Effective Gross Income

Expenses:

NOI:

$161,500

$40,589

$202,089

($40,589)

$161,500

Financial Data

OFFERING SUMMARY

Annual PSF Monthly

Tenant Base Rent Schedule

8

Property Name:

Property Address:

Rentable Area:

# of Total Locations:

Corp. Headquarter:

Website:

The Rail

5839 Frantz Road

Dublin, OH 43016

4,580 S.F.

5+ (Additional Owner Concepts)

Akron, OH

therailburger.com

Award-winning chef Mike Mariola and wife, Emily founded The Rail in 2011, opening the first location in Akron. A gourmet burger bar known for championing creative American fare and Ohio craft brews, the concept now has five locations in Akron, North Olmsted,

Canton, Strongsville and Dublin.

The Rail has received several awards over the years including:

• Best Burger in Stark County (2018)

• People's Choice Award - Taste of the Pro Football Hall of Fame (2017)

• Best in Show - Burger Wars (2017)

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10

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Largest OhioHealth Hospital 1,059 Beds

6 Miles 66,000+ Students & 28,000 Faculty/Staff

12

13

5839 Frantz Rd 1 mi radius 3 mi radius 5 mi radius 10 mi radius

Dublin, OH 43016

POPULATION

2019 Estimated Population 9,827 85,667 219,961 774,702

2024 Projected Population 10,357 89,995 231,122 820,653

2010 Census Population 8,668 68,504 188,506 676,370

2000 Census Population 7,258 59,560 168,479 615,571

Projected Annual Growth 2019 to 2024 1.1% 1.0% 1.0% 1.2%

Historical Annual Growth 2000 to 2019 1.9% 2.3% 1.6% 1.4%

2019 Median Age 34.3 35.5 36.4 34.5

HOUSEHOLDS

2019 Estimated Households 4,593 37,034 91,031 315,548

2024 Projected Households 4,777 38,499 94,607 330,189

2010 Census Households 4,067 29,914 78,154 276,387

2000 Census Households 2,973 25,387 69,225 254,723

Projected Annual Growth 2019 to 2024 0.8% 0.8% 0.8% 0.9%

Historical Annual Growth 2000 to 2019 2.9% 2.4% 1.7% 1.3%

RACE AND

ETHNICITY

2019 Estimated White 76.6% 76.4% 77.4% 70.1%

2019 Estimated Black or African American 7.1% 6.3% 6.1% 15.6%

2019 Estimated Asian or Pacific Islander 11.8% 12.7% 12.1% 8.4%

2019 Estimated American Indian or Native Alaskan 0.2% 0.1% 0.2% 0.2%

2019 Estimated Other Races 4.4% 4.5% 4.2% 5.7%

INCOME

2019 Estimated Average Household Income $110,154 $102,019 $114,710 $92,465

2019 Estimated Median Household Income $83,452 $86,332 $94,885 $77,645

2019 Estimated Per Capita Income $51,520 $44,121 $47,497 $37,783

EDUCATION

(AGE 25+)

2019 Estimated Elementary (Grade Level 0 to 8) 1.2% 1.4% 1.2% 2.6%

2019 Estimated Some High School (Grade Level 9 to 11) 3.2% 2.4% 2.2% 4.6%

2019 Estimated High School Graduate 12.5% 14.5% 14.0% 19.7%

2019 Estimated Some College 17.3% 16.3% 16.0% 17.5%

2019 Estimated Associates Degree Only 5.6% 6.8% 6.3% 6.4%

2019 Estimated Bachelors Degree Only 37.8% 36.2% 35.8% 30.1%

2019 Estimated Graduate Degree 22.4% 22.3% 24.4% 19.1%

BUSINESS

2019 Estimated Total Businesses 756 4,587 9,253 33,493

2019 Estimated Total Employees 13,895 68,687 118,890 545,608

2019 Estimated Employee Population per Business 18.4 15.0 12.8 16.3

2019 Estimated Residential Population per Business 13.0 18.7 23.8 23.1

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DISCLOSURE, CONFIDENTIALITY & DISCLAIMER

CONFIDENTIALITY AGREEMENT DISCLOSURE & DISCLAIMER The information within this Offering Memorandum will set forth an understanding regarding the relationship between the Recipient of this package (the “Recipient”) and The Cooper Group and the confidentiality of the investment information to be supplied to you and your organization for use in considering, evaluating and/or purchasing this property (the “Property”). The recipient acknowledges that all financial, contractual, marketing, and informational materials including but not limited to lease information, occupancy information, financial information, projections, data information and any other similar information provided by The Cooper Group which relates to the Property (collectively, the Confidential Information), whether said information was transmitted orally, in print, in writing or by electronic media is confidential in nature and is not to be copied or distributed to any party without the prior consent of The Cooper Group. The Recipient acknowledges and agrees that the Confidential Information is of such a confidential nature that severe monetary damage could result from dissemination of that information to unauthorized individuals. The Recipient shall limit access to the Confidential Information to those individuals in the Recipient’s organization with a “need to know” and shall take all precautions reasonably necessary to protect the confidentiality of the Confidential Information. The Recipient acknowledges and agrees that the Confidential Information and any copies thereof are the property of The Cooper Group and that all such information will be returned to The Cooper Group upon written request. Any offers or inquiries from Recipient in connection with this investment proposal shall be forwarded, confidentiality, to The Cooper Group. Other than The Cooper Group, recipient agrees that neither Recipient nor The Cooper Group shall be obligated to pay any procuring broker fees in connection with this investment unless a separate written Brokerage Agreement is entered into and written acknowledgement of any procuring Brokerage Agreement is received from all parties to the investment transaction. Procuring brokers must provide written introductions of potential investors and receive written acknowledgment from The Cooper Group for representation to be recognized. This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

The Memorandum contains selected information pertaining to the property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property, to be all-inclusive or to contain all or part of the information which perspective Recipients may require to evaluate the purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the economy, market conditions, competition and other factors beyond the control of the owner or The Cooper Group. All references disclosed herein related to acreage, square footages and/or other measurements may be approximations and the best information available. The summaries of information included herein do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Photos herein are the Property and respective owners and use of these images without the express written consent of the owner is prohibited. The owner and the Cooper Group expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or terminate discussions with any entity and any time with or without notice which may arise as a result of review of this Memorandum. Neither the owner or the Cooper Group, nor any of their respective directors, officers, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or its contents; and you are to rely solely on your investigators and inspections of the property in evaluating a possible purchase of the Property. The information contained in this document has been obtained from sources to be reliable. While the Cooper Group does not doubt its accuracy, the Cooper Group has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm the accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the Property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors.

Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 www.coopergrp.com

Bob Havasi bhavasi@coopergrp.com (216) 562-1981 x10

Dan Cooper dcooper@coopergrp.com (216) 562-1981 x12