Kneaders 20630North75th Glendale Flyer 02.12 · The inaugural Street League Skateboarding event was held in the summer of 2010 in Glendale at the Gila River Arena. This street skateboarding

NNN InvestmentOffering

20630 North 75th Ave.Glendale, AZ 85308Phoenix MSA

Exclusively offered by:

Local Broker:

JIM CASALE, CCIM l Principal l Lee & [email protected] l 858.453.9990

Lic.No. 00844348

JENNIE MILLER, PLLC l Market Edge Realty, [email protected] l 480.382.9681 l Lic.No. 638404000

Offered at:$2,500,000

6.24% Cap Rate(6.86% Cap Rate after Sept 2019)

Table of Contents / Disclaimer

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Table of Contents / Disclaimer

Executive Summary

Location Highlights

Interior Photos

Map

Area Map

Site Map

Demographics

Franchisee Overview

Glendale Overview

Lee & Associates – San Diego, Inc. (”Agent”) has been engaged as an agent for the sale of the

property located at 20630 North 75th Avenue, Glendale, AZ by the owner of the Property ("Seller"). The

Property is being offered for sale in an "as-Is, where-is" condition and Seller and Agent make no

representations or warranties as to the accuracy of the information contained in this Offering

Memorandum. The enclosed materials Include highly confidential Information and are being furnished

solely for the purpose of review by prospective purchasers of the Interest described herein. The

enclosed materials are being provided solely to facilitate the prospective Investor's own due diligence

for which It shall be fully and solely responsible. The material contained herein is based on information

and sources deemed to be reliable, but no representation or warranty, express or Implied, is being

made by Agent or Seller or any of their respective representatives, affiliates, officers, employees,

shareholders, partners and directors, as to the accuracy or completeness of the information contained

herein. Summaries contained herein of any legal or other documents are not Intended to be

comprehensive statements of the terms of such documents, but rather only outlines of some of the

principal provisions contained therein. Neither the Agent nor the Seller shall have any liability

whatsoever for the accuracy or completeness of the information contained herein or any other written

or oral communication or Information transmitted or made available or any action taken or decision

made by the recipient with respect to the Property. Interested parties are to make their own

Investigations, projections and conclusions without reliance upon the material contained herein. Seller

reserves the right, at Its sole and absolute discretion, to withdraw the Property from being marketed for

sale at any time and for any reason. Seller and Agent each expressly reserves the right, at their sole and

absolute discretion, to reject any and all expressions of Interest or offers regarding the Property and/or

to terminate discussions with any entity at any time, with or without notice. This offering Is made subject

to omissions, correction of errors, change of price or other terms, prior sale or withdrawal from the

market without notice. Agent Is not authorized to make any representations or agreements on behalf

of Seller. Seller shall have no legal commitment or obligation to any Interested party reviewing the

enclosed materials, performing additional Investigation and/or making an offer to purchase the

Property unless and until a binding written agreement for the purchase of the Property has been fully

executed, delivered, and approved by Seller and any conditions to Seller's obligations hereunder have

been satisfied or waived. By taking possession of and reviewing the Information contained herein, the

recipient agrees that (a) the enclosed materials and their contents are of a highly confidential nature

and will be held and treated in the strictest confidence and shall be returned to Agent or Seller

promptly upon request; and (b) the recipient shall not contact employees or tenants of the Property

directly or indirectly regarding any aspect of the enclosed materials or the Property without the prior

written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied or

otherwise reproduced without the prior written authorization of Seller and Agent.

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3

Executive Summary

Outdoor Dining

Drive-thru

PROPERTY ADDRESS: 20630 North 75th Avenue, Glendale, AZ 85308

BUILDING SIZE: 4,050 SF

YEAR BUILT: 2015

LOT SIZE: 1.28 acres

LESSEE: Kneader’s (FFG Glendale, LLC)

LEASE GUARANTOR: Four Foods Group Stores, LLC, a Utah limited liability company

ANNUAL RENT: $156,000

CAP RATE: 6.24%

SALES PRICE: $2,500,000

COMMENTS: New 15 year lease commenced 09/2015, NNN lease. 10% increase every 5 years. Absolute NNN lease. Four 5-yearoptions to renew at 10% increase for each option period.

4

Location Highlights

• Part of Aspera master planned development at 75th & Loop 101.

• Existing tenants include: Mountainside Fitness, Joy Church at Aspera, Joy Christian School (K – 12th grade), 840 enrollment, Dream City Church (Glendale campus), and Velaire at Aspera, a 286 unit luxury apartment project.

• Retail tenants next door: Starbuck’s, Fried Pie Pizza, Herbal Nails & Spa, Friendly Smiles Under construction: Popeye’s Chicken

• Traffic Count: 26,300 vehicles per day 75th Ave north of 101 loop.

S

R-10

1 Ea

st

5

Interior

SR-1

01 W

est

S

R-10

1 Ea

st

ArrowheadMemorial Gardens

North 78th Ave

Aspera Blvd.

NORTH 75TH AVENUE

Wes

t Bea

rdsle

y Rd

.

∙ Friendly Smiles∙ Herbal Nails

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Area Amenities

Popeye’s Fired Pie / Friendly Smiles Herbal Nails / Starbucks

Mountainside Fitness Velaire at Aspera

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Area Map

20630 North 75th Avenue

to Phoenix, Arizonato Tempe, Arizonato Scottsdale, Arizonato Mesa, Arizona

l 23.8 milesl 32.0 milesl 32.9 milesl 40.6 miles

Glendale

8

Site Map

Community Church of Joy

North 75th Avenue

Com

mun

ity C

hurc

h of

Joy

Asp

era

Blvd

.

∙ Friendly Smiles∙ Herbal Nails

1 33 55

9

Demographics

1 MILE 3 MILE 5 MILE

2010

2017

2022

14,607

15,403

16,216

86,193

93,385

99,601

218,816

240,623

257,741

POPULATION

1 MILE 3 MILE 5 MILE

2017

2022

$103,410

$115,594

$94,607

$105,427

$88,097

$99,005

AVERAGE HOUSEHOLD INCOME

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.

10

Franchisee Overview

The Kneaders Story

Our story began with traditional, European bread made with those three simple ingredients. After mastering old-world bread baking techniques, testing countless recipes and developing a unique flour blend, our founders began baking our signature artisan breads in their hometown of Orem, Utah in 1997.

Today, every loaf of hearth bread is still made from scratch and baked in Italian hearthstone ovens. Our menu has grown to include sandwiches, hearty soups, refreshing salads, and dozens of handmade pastries, and like our hearth breads, these menu items are made with honest, whole ingredients. Charitable giving is part of the foundation of our company. Our bakeries focus on improving their local communities through alleviating hunger, supporting schools and fundraising for children’s hospitals. Every September, our entire company joins with our guests and the Huntsman Cancer Institute to fight childhood cancer.

Kneaders Bakery & Café is still headquartered in Orem, Utah and operated by our founders, Gary and Colleen Worthington. Several 2nd, 3rd, and even 4th generation members of the Worthington family have carried on our founders’ legacy in a variety of capacities, from company leadership to guest service in our bakeries.

Founded by Gary and Colleen Worthington in 1997, Kneaders Bakery & Café is headquartered in Orem, Utah. The award-winning fast-casual restaurant uses only the highest-quality ingredients to create fresh European hearth breads, delicious sandwiches, mouthwatering pastries, hearty soups and refreshing salads, all made in-house each day. All restaurants have a retail section and also offer a variety of custom-made and themed gift baskets in addition to providing catering services. Kneaders Bakery & Café currently operates 59 corporate-owned and franchised locations in eight western states.

11

Area Overview

Phoenix is the capital and most populous city in Arizona. With 1,615,017 people (as of 2016), Phoenix is the most populous state capital in the United States, and the only state capital with a population of more than one million residents.

Phoenix is the anchor of the Phoenix metropolitan area, also known as the Valley of the Sun, which in turn is a part of the Salt River Valley. The metropolitan area is the 12th largest by population in the United States, with approximately 4.3 million people as of 2010. In addition, Phoenix is the seat of Maricopa County and, at 517.9 square miles (1,341 km²), it is the largest city in the state, more than twice the size of Tucson and one of the largest cities in the United States.

Phoenix Metro

As of the census of 2000, there were 218,812 people, 75,700 households, and 54,352 families residing in the city. The population density was 3,929.5 people per square mile (1,517.3/km²). There were 79,667 housing units at an average density of 1,430.7 per square mile (552.4/km²).

Glendale is the site of two major sports venues: University of Phoenix Stadium and Gila River Arena. Both venues are part of the Glendale Sports and Entertainment District development plan, meant to spur growth in the sparsely inhabited Yucca district. Both venues are owned by the City of Glendale.

University of Phoenix Stadium is the home field of the Arizona Cardinals of the NFL. The team formerly played at Sun Devil Stadium on the campus of Arizona State University in nearby Tempe, until they moved in 2006.

The stadium is also used for college football and other events. The stadium hosts the annual Tostitos Fiesta Bowl bowl game. The BCS National Championship college football championship game also circulates to Glendale. The 2011 BCS National Championship Game was held in Glendale on January 10, 2011.

Gila River Arena (formerly Glendale Arena, then Jobing.com Arena) and Westgate City Center is adjacent to University of Phoenix Stadium, and is the home of the Arizona Coyotes of the National Hockey League (NHL). The inaugural Street League Skateboarding event was held in the summer of 2010 in Glendale at the Gila River Arena. This street skateboarding competition returns to Glendale annually.

Glendale Area

20630 North 75th AvenueGlendale, AZ 85308

Exclusively offered by:

Local Broker:

JIM CASALE, CCIM l Principal l Lee & [email protected] l 858.453.9990

Lic.No. 00844348

JENNIE MILLER, PLLC l Market Edge Realty, [email protected] l 480.382.9681 l Lic.No. 638404000