Christian Brothers - Clive, IA

CLIVE, IA

(DES MOINES MSA)

Listed in conjunction with Iowa real estate broker David B Zacharia License B64850000

PRI CING & F INAN CI AL AN ALYSI S

CHRI S T IAN B R OT H E R S AU TO M OT IV E - C LIV E , IA

Christian Brothers Automotive 15250 Hickman Rd Clive, IA 50325

ANNUALIZED OPERATING DATA

OFFERING SUMMARY Price

Annual

Increase

Years 1-5

$201,600

-

$201,600

Year 6

$204,624

1.50%

2019

Year 7

$207,693

1.50%

5,229 SF

Year 8

$210,809

1.50%

0.91 Acres

Year 9

$213,971

1.50%

Year 10

$217,180

1.50%

Year 11

$220,438

1.50%

15 Years

Year 12

$223,745

1.50%

Lease Commencement

At Close of Escrow

Year 13

$227,101

1.50%

Lease Expiration

15 Years from COE

Year 14

$230,507

1.50%

Remaining Term

15 Years

Year 15

$233,965

1.50%

NET OPERATING INCOME

$201,600

Cap Rate Net Operating Income Year Built Gross Leasable Area Lot Size

$3,227,000 6.25%

LEASE SUMMARY Lease Term

Lease Type Roof & Structure Increases Options Options to Purchase

NNN

Year(s)

Tenant 1.5% Starting in Year 6 5 x 10 Year No

For Financing Options Please Contact: Greg Holley | Managing Partner High St Capital (O) 469-998-7200 | (C) 714.514.2990 gholley@highstcapital.com

F I N A N C I A L A N A LY S I S

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TE NA NT OVERV I EW

CHRI S T IAN B R OT H E R S AU TO M OT IV E - C LIV E , IA

COMPANY SUMMARY

Christian Brothers Automotive was founded in 1982 because there was a void in the auto repair industry. Customer service and honest, genuine auto repair service was tough to find. They haven’t changed their focus in thirty years. They still have some of the original employees on board, and they still believe that it’s possible to provide the best auto repair service with the best customer service. Christian Brothers is progressing on a growth initiative that would take their brand to over 200 stores throughout the southeast, lower midwest and southwest United States by 2020.

Company

Christian Brothers Automotive

Ownership

Private

Market Cap

See Agent for Details

Sales Volume

See Agent for Details

Number of Locations

200+

Years in Business

35+ Years

Headquarters

Houston, TX

Website

www.cbac.com

PROPERTY DESCRIPTION

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I N VE S TMENT HI GHLI GHT S

CHRI S T IAN B R OT H E R S AU TO M OT IV E - C LIV E , IA

• Long-Term Absolute Triple-Net Lease

SNAPSHOT

• Zero Landlord Responsibility • 15-Year Primary Term with Options up to 65 Years • One and One-Half Percent Annual Rent Escalations Starting in Year 6 • Strong Corporate Guarantee • Christian Brothers started in 1982, is Growing at 15-20 Locations per Year, Currently Has Over 200 Locations and Never Closed a Store

Estimated Vehicles Per Day

Average Household Income

33,100

$151,613

Projected Population Growth 2020-2025

Population: 5 Mile Radius

15.03%

111,195

• Traffic Counts on Hickman Rd Exceed 33,000 Vehicles per Day • The Population Within a 5-Mile Radius in 2019 is over 110,000 People with a Projected Total of 125,000 in 2024. The Population within 3 Miles has Grown Nearly 36% since 2010.

• The Average Household Income Within a 1-Mile Radius is over $151,000 • Surrounding Retailers Include Nebraska Furniture Mart, Walgreens, Hy-Vee, Starbucks, Caribou Coffee, Arby’s, Wendy’s, IHOP, AutoZone, Pancheros Mexican Grill and Many, Many More

PROPERTY DESCRIPTION

4

E L E VATION

CHRI S T IAN B R OT H E R S AU TO M OT IV E - C LIV E , IA

Note: this is the generic evelation plan for a typical Christian Brothers Automotive location. Actual subject property may vary depending on location.

PROPERTY DESCRIPTION

5

S I T E PL A N

CHRI S T IAN B R OT H E R S AU TO M OT IV E - C LIV E , IA

Note: this is the generic site plan for all Christian Brothers Automotive locations. Actual subject property may vary depending on location.

PROPERTY DESCRIPTION

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A E R I AL MA P

CHRI S T IAN B R OT H E R S AU TO M OT IV E - C LIV E , IA

HICKMAN RD

33,100 VPD

EASON ELEMENTARY SCHOOL WAUKEE MIDDLE SCHOOL

WAUKEE HIGH SCHOOL

PRAIRIEVIEW SCHOOL

PROPERTY DESCRIPTION

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LO C AL MA P

CHRI S T IAN B R OT H E R S AU TO M OT IV E - C LIV E , IA

PROPERTY DESCRIPTION

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M A R KET OVERVI EW

CHRI S T IAN B R OT H E R S AU TO M OT IV E - C LIV E , IA

Des Moines, IA

OVERVIEW Des Moines is the capital and the most populous city in the U.S. state of Iowa. It is also the county seat of Polk County. The city was incorporated on September 22, 1851, as Fort Des Moines, which was shortened to “Des Moines” in 1857. It is on and named after the Des Moines River, which likely was adapted from the early French name, Rivière des Moines, meaning “River of the Monks”. The city’s population was 216,853 as of the 2018 population estimate. The five-county metropolitan area is ranked 89th in terms of population in the United States with 655,409 residents according to the 2018 estimate by the United States Census Bureau, and is the largest metropolitan area fully located within the state.

Des Moines is a major center of the US insurance industry and has a sizable financial services and publishing business base. The city is the headquarters for the Principal Financial Group, the Meredith Corporation, Ruan Transportation and Wellmark Blue Cross Blue Shield. Other major corporations such as Wells Fargo, Voya Financial, Nationwide Mutual Insurance Company, ACE Limited, Marsh,

Monsanto and DuPont Pioneer have large operations in or near the metropolitan area. In recent years, Microsoft, Hewlett Packard and Facebook have built data-processing and logistical facilities in the Des Moines area.

Des Moines is an important city in U.S. presidential politics; as the state’s capital, it is the site of the first caucuses of the presidential primary cycle.

Many presidential candidates set up campaign headquarters in Des Moines.

Des Moines is also home to the main campuses of three four-year private colleges: Drake University, Grand View University and Mercy College of Health Sciences. Also in the city are the Iowa State Fair Grounds with Heritage Village (displaying early farm machinery and replicas of pioneer buildings) and the Iowa Museum of Agriculture. The annual state fair, held in August, is the city’s premier event, drawing hundreds of thousands of visitors. In 2017, Des Moines was ranked as the #1 Minor League Sports city in the US by SportsBusiness Journal.

MARKET OVERVIEW

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D E M OG RA PHIC STAT I ST I CS

CHRI S T IAN B R OT H E R S AU TO M OT IV E - C LIV E , IA

1 MILE

3 MILE

5 MILE

9,343 8,273 8,172 12.93% 1.24% 201

63,873 55,525 40,831 15.03% 35.99% 1,830

125,104 111,195 85,167 12.51% 30.56% 4,810

7,455 101 19 593 4 102 1

49,227 1,461 129 3,739 19 950 33

98,244 3,288 237 7,525 42 1,859 121

3,256 2,866 2,738 13.61% 4.67% 2,697 170 $151,613 $128,014

24,039 20,843 15,208 15.33% 37.05% 17,098 3,745 $118,723 $98,835

49,443 43,949 33,737 12.50% 30.27% 33,211 10,738 $111,097 $89,366

135 277 306 283 375 477 322 692

1,795 3,043 3,219 2,480 2,852 2,226 2,452 2,776

4,179 7,482 6,973 5,814 5,762 4,191 4,395 5,154

Population: 2024 Projection 2019 Estimate 2010 Census Growth 2019-2024 Growth 2010-2019 2019 Population Hispanic Origin

2019 Population by Race: White Black Am. Indian & Alaskan Asian Hawaiian & Pacific Island Other U.S. Armed Forces:

Households: 2024 Projection 2019 Estimate 2010 Census Growth 2019 - 2024 Growth 2010 - 2019 Owner Occupied Renter Occupied 2019 Avg Household Income 2019 Med Household Income

2019 Households by Household Inc: <$25,000 $25,000 - $50,000 $50,000 - $75,000 $75,000 - $100,000 $100,000 - $125,000 $125,000 - $150,000 $150,000 - $200,000 $200,000+ Demographic data © CoStar 2020

MARKET OVERVIEW

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CONFIDENTIALITY AGREEMENT The information contained in the following marketing package is proprietary and strictly confidential.

It is intended to be reviewed only by the party receiving it from STRIVE and David B Zacharia and it should not be made available to any other person or entity without the written consent of STRIVE and David B Zacharia. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the marketing package. If you have no interest in the subject property at this time, please return this marketing package to STRIVE and David B Zacharia.

This marketing package has been prepared to provide summary, unverified financial and physical 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. STRIVE and David B Zacharia have 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, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenantâ&#x20AC;&#x2122;s plans or intentions to continue its occupancy of the subject property. The information contained in this marketing package has been obtained from sources we believe to be reliable; however, STRIVE and David B Zacharia have not verified, and will not verify, any of the information contained herein, nor have STRIVE and David B Zacharia 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AND DAVID B ZACHARIA AGENT FOR MORE DETAILS.

This information has been secured from sources we believe to be reliable, but STRIVE and David B Zacharia make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2020 STRIVE and David B Zacharia

Net Lease Disclaimer STRIVE and David B Zacharia hereby advises all prospective purchasers of Net Leased property as follows: The information contained in this Marketing Package has been obtained from sources we believe to be reliable. However, STRIVE and David B Zacharia have not and will not verify any of this information, nor has STRIVE and David B Zacharia conducted any investigation regarding these matters. STRIVE and David B Zacharia make no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Package is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE and David B Zacharia expressly deny any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Package are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Package you agree to release STRIVE and David B Zacharia and hold each harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

Information About Brokerage Services

Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.

• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material information about the property or transaction received by the broker; • Answer the client’s questions and present any offer to or counter-offer from the client; and • Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and • buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

• Must not, unless specifically authorized in writing to do so by the party, disclose: ӽ that the owner will accept a price less than the written asking price; ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s duties and responsibilities to you, and your obligations under the representation agreement.

• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Regulated by the Texas Real Estate Commission

Information available at www.trec.texas.gov IABS 1-0

469.844.8880

STRIVERE.COM

Listed in conjunction with Iowa real estate broker David B Zacharia license B64850000

Real estate disclosure for the state of Iowa revised 09.05.18 This disclosure is to be attached to listing and buyer agency agreements, marketing, and offers David B Zacharia, Iowa broker license B64850000 and Jason Vitorino, Texas broker license 512565 shall preform the below duties: 543B.56 Duties of licensees.

1. Duties to all parties in a transaction. In providing brokerage services to all parties to a transaction, a licensee shall do all of the following: a. Provide brokerage services to all parties to the transaction honestly and in good faith. b. Diligently exercise reasonable skill and care in providing brokerage services to all parties. c. Disclose to each party all material adverse facts that the licensee knows except for the following: (1) Material adverse facts known by the party.

(2) Material adverse facts the party could discover through a reasonably diligent inspection, and which would be discovered by a reasonably prudent person under like or similar circumstances.

(3) Material adverse facts the disclosure of which is prohibited by law.

(4) Material adverse facts that are known to a person who conducts an inspection on behalf of the party. d. Account for all property coming into the possession of a licensee that belongs to any party within a reasonable time of receiving the property.

2. Duties to a client. In addition to the licensee’s duties under subsection 1, a licensee providing brokerage services to a client shall do all of the following: a. Place the client’s interests ahead of the interests of any other party, unless loyalty to a client violates the licensee’s duties under subsection 1, section 543B.58, or under other applicable law. b. Disclose to the client all information known by the licensee that is material to the transaction and that is not known by the client or could not be discovered by the client through a reasonably diligent inspection. c. Fulfill any obligation that is within the scope of the agency agreement, except those obligations that are inconsistent with other duties that the licensee has under this chapter or any other law. d. Disclose to a client any financial interests the licensee or the brokerage has in any business entity to which the licensee or brokerage refers a client for any service or product related to the transaction.

3. Prohibited conduct. In providing brokerage services, a licensee shall not do either of the following: a. Accept a fee or compensation related to a transaction from a person other than the licensee’s client, unless the licensee has provided written notice to all parties to the transaction that a fee or compensation will be accepted by the licensee from such per son. b. Act in a transaction on the licensee’s own behalf, on behalf of the licensee’s immediate family or brokerage, or on behalf of an organization or business entity in which the licensee has an interest, unless the licensee has provided written disclosure of the interest to all parties to the transaction.

95 Acts, ch 17, §2; 96 Acts, ch 1054, §2 Referred to in §543B.57, §543B.58, §543B.61 Iowa Code 2017, Chapter 543B (17, 0)

Please mark with an “X,” who David B Zacharia, Iowa broker license B64850000 and Jason Vitorino Texas _____________________, ______________ licensee are representing below: ___ Seller ___ Buyer ___ Seller and Buyer. Both Seller and Buyer agree to DUAL AGENCY where Iowa broker represents both Seller and Buyer equally.

Please sign and date below acknowledging agreement to this Disclosure. _________________________________________ ____________________________________ Seller Date _________________________________________ ____________________________________ Buyer Date