TIM HORTONS DETROIT, MI

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1 TIM HORTONS DETROIT, MI *representative photo

2 TIM HORTONS DETROIT, MI Presented By Kevin Baker Daniel Kukes Scott Landers (248) (248) (248)

3 This Confidential Memorandum has been prepared by Landmark Commercial Real Estate Services, Inc. ( LANDMARK ) and is being furnished to you solely for the purpose of your review of the commercial property located at Wyoming ST, Detroit, MI (the Property ). The material contained in this Offering Memorandum shall be used for the purposes of evaluating the Property for acquisition and shall not be used for any purpose or made available to any other person without the express written consent of Landmark Commercial Real Estate Services, Inc. ( Broker ). By accepting the Confidential Memorandum, you acknowledge and agree that: (1) all of the information contained herein and any other information you will be receiving in connection with this transaction, whether oral, written or in any other form (collectively, the Materials ), is confidential; (2) you will not reproduce the Confidential Memorandum in whole or in part; (3) if you do not wish to pursue this matter, you will return this Confidential Memorandum to LANDMARK as soon as practicable together with all other materials relating to the Property which you may have received from LANDMARK; and (4) any proposed actions by you which are inconsistent in any manner with the foregoing agreements will require the prior written consent of LANDMARK. This Confidential Memorandum has been prepared by LANDMARK, based upon certain information pertaining to the Property and any information obtained from LANDMARK to assist interested parties in making their own evaluation of the Property is offered on a no representation or warranty provision other than customary warranties of title and is sold on an as-is, where-is basis and with all faults. The material and transaction does not purport to be all inclusive. This Confidential Memorandum contains descriptive materials, financial information and other data compiled for the convenience of parties interested in the Property. The Materials are being delivered by LANDMARK to prospective investors with the understanding that it is not all inclusive and that it is qualified in its entirety by independent investigation by prospective investors of those matters which they deem appropriate in evaluating this offering without reliance upon LANDMARK, the Broker or any of their respective affiliates or any of the information set out in the Materials. Neither LANDMARK, the Broker, nor any of their respective affiliates have independently verified any of the information contained herein or in any of the Materials, and no representations or warranties as to the accuracy or completeness thereof or of any other kind whatsoever are made or intended and none should be inferred. LANDMARK, for itself and its affiliates of the Property, expressly disclaim any and all liability for statements or representations, express or implied, contained herein or for omissions from the Materials or for any other written, oral or other format of communication transmitted to a prospective investor in the course of its evaluation of the proposed transaction. All summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial statements, which upon request may be made available. The terms and conditions described herein are subject to change without notice. This Confidential Memorandum does not constitute an offer to accept any investment proposal but is merely a solicitation of interest with respect to the investment described herein. The Confidential Memorandum does not constitute an offer of security. The investment described herein may be financed or withdrawn from the market, without prior notice. By accepting this Confidential Memorandum you agree to release LANDMARK and hold it harmless from any kind of claim, expense, or liability arising out of your discovery or purchase of the Property. LANDMARK reserves the right to request the return of the Materials at any time. Ownership of the Property reserves the right to negotiate with one or more prospective investors at any time. or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions prior to sale or lease, or withdrawal without notice. 5

4 RENT SCHEDULE NOI YEARS $49,000 Current $53, INVESTMENT HIGHLIGHTS Offering Price: $632,258 (7.75% Cap) TENANT Tim Hortons (freestanding) CREDIT/GUARANTOR Tim Donut U.S. Limited, Inc. PROPERTY DETAILS Address: Wyoming St, Detroit, MI Year Built: 1974/2013 Rentable Square Feet: Acreage: 2,307 SF 1.10 Acres Lease Types: NNN Landlord Responsibilities: None RENT ROLL Lease Dates Minimum Rent Tenant GLA % GLA Start End Annual Monthly PSF Tim Hortons 2,307 SF 100% 1/16/ /31/2016 $49, $4, $ /1/ /31/2023 $53, $4, $23.36 OPTION PERIODS 1/1/ /31/2028 $59, $4, $ /1/ /31/2033 $65, $5, $ /1/ /31/2038 $71, $5, $ /1/ /31/2043 $78, $6, $34.21

5 INVESTMENT HIGHLIGHTS Rent Bumps - 10% rental escalations every five years National Tenant Investment in a nationally recognizable tenant with a proven track record and excellent quality product and service Location Located on the morning side of the road within one block of the M-10 highway, with over 100,000 CPD (cars per day) Dense Demographics Over 80,000 people within 2 miles, and over 175,000 people within 3 miles Quality Real Estate The site is 2,307 SF, 1.10 Acres, with ample parking, excellent ingress/egress, prime visibility and signage, and already equipped with a drive-thru making this an all around great restaurant site

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8 Stock Ticker: NYSE:THI Stock Price: $54.78 (As of 6/10/2014) Market Cap: $7.35 Billion (As of 6/10/2014) Sales: $3.01 Billion (As of 6/10/2014) Credit Rating: Not Rated Tim Hortons was founded in 1964 in Hamilton, Ontario. The menu spans a broad range of categories including coffee, espressobased hot and cold beverages, soups, sandwiches, and freshly baked goods. The company has an iconic brand status in Canada and a strong and growing presence in select regional markets in the United States. As of June 2013, the chain has 3,468 locations in Canada and 807 locations in the United States. The company is continuously innovating and improving it s concept. Most standard Tim Hortons locations are open 24 hours. There are a growing number of combo units housing both Tim Hortons and a Wendy s. Tim Hortons and Kahala Corp (owner of Cold Stone Creamery) starting cobranding in Tim Hotons utilizes a We fit Anywhere real estate model which has led to a number of non-traditional locations in gas stations, convenience stores, universities, hospitals, office buildings, and airports. The chain s focus on top quality, always fresh product, value, great service and community leadership has allowed it to grow into the largest quick service chain in Canada. Tim Hortons is one of the largest publicly-traded quick service restaurant chains in North America based on market capitalization, and the largest in Canada.

9 Detroit is home to a rich mix of people from various ethnic backgrounds. Today, Detroit is composed primarily of African Americans, Hispanics, and Arab Americans. That racial diversity if reflected in areas such as Greektown, Mexicantown and Asian Village. Detroit is a diverse and dynamic city with an intriguing history. It s a place of people, trends, world changing inventions, and groundbreaking music. Detroit played a key role in the industrialization of America throughout the 20 th century, and is ready to transform itself as technologies develop into the 21 st century. Currently, the top employers in Detroit are: Detroit Medical Center, City of Detroit, Quicken Loans, Henry Ford Health System and Detroit Public Schools. Detroit s revitalization efforts have brought thousands of new residents downtown. One such program, Live Downtown, has attracted as many as 15,000 new residents alone. The city was modeled after Paris. Downtown acts as an epicenter, with major highways and roads going out like spokes on a wheel. Our subject property is located in the immediate vicinity of one such spoke M-10 (commonly called The Lodge ).

10 BUSIN ESS INCOME RACE HOUSEHOLDS POPULATION DESCRIPTION 1 MILE 2 MILE 3 MILE 5 MILE 2013 Estimated Population 19,523 84, , , Projected Population 19,804 86, , , Census Population 19,247 83, , , Census Population 26, , , ,414 Projected Annual Growth 2013 to % 0.3% 0.3% 0.3% Historical Annual Growth 2000 to % -1.8% -1.8% -1.7% 2013 Estimated Households 7,351 32,448 69, , Projected Households 7,515 33,171 71, , Census Households 7,173 31,661 68, , Census Households 9,133 38,986 84, ,218 Projected Annual Growth 2013 to % 0.4% 0.4% 0.5% Historical Annual Growth 2000 to % -1.3% -1.3% -1.3% 2013 Est. White 1.1% 1.8% 1.8% 16.2% 2013 Est. Black 96.4% 95.8% 95.9% 79.1% 2013 Est. Asian or Pacific Islander 0.1% 0.3% 0.2% 0.9% 2013 Est. American Indian or Alaska Native 0.3% 0.3% 0.3% 0.3% 2013 Est. Other Races 2.2% 1.8% 1.9% 3.6% 2013 Est. Average Household Income $36,816 $41,709 $41,870 $42, Est. Median Household Income $32,177 $33,659 $33,866 $34, Est. Per Capita Income $13,997 $16,076 $16,604 $16, Est. Total Businesses 548 2,347 4,561 14, Est. Total Employees 3,755 14,826 29, ,479