Net Lease Cricket Wireless

NET LEASE INVESTMENT OFFERING

CRICKET WIRELESS 1705 Alma Avenue Perryville, MO 63775

TABLE OF CONTENTS

TABLE OF CONTENTS I. Executive Profile

II. Location Overview

III. Market & Tenant Overview

Executive Summary Investment Highlights Property Overview

NET LEASE INVESTMENT OFFERING

Photographs Aerial Site Plan Map

Demographic Report Market Overview Tenant Overview

DISCLAIMER STATEMENT

DISCLAIMER STATEMENT:

The information contained in the following Offering Memorandum is proprietary and strictly confidential.

It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group.

This Offering Memorandum has been prepared to provide summary, unverified 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. The Boulder Group has not made any investigation, and makes no warranty or representation.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group 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.

NET LEASE INVESTMENT OFFERING

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY:

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Cricket Wireless property located in Perryville, Missouri. The property is strategically located along a primary thoroughfare with direct access to Interstate-55. The property was fully renovated to accommodate the tenant in 2017. The new ten year lease commenced in May 2017 and features a rental escalation in the primary term and in each renewal option period. Cricket Wireless is a prepaid wireless service provider and a wholly owned subsidiary of AT&T Inc. The Cricket Wireless lease is personally guaranteed by the CEO of Gateway Wireless, LLC. Gateway Wireless is a rapidly-growing Cricket Wireless franchisee with more than 70 store in eight U.S. states.

The 2,150 square foot Cricket Wireless property is strategically located on the corner of Alma Avenue and Perryville Boulevard. Perryville Boulevard is the primary north-south thoroughfare in the trade area and connects the property to Interstate-55 with interchange access. The property is located within close proximity to multiple residential communities and local businesses. Retailers in the immediate area include Walmart Supercenter, McDonald’s, Burger King, Taco Bell and Buchheit, a home center chain. There are a number of hotels in the area including Comfort Inn, Days Inn, Holiday Inn and Super 8.

The property has more than 9 years remaining on the lease which expires in April 2027. The triple net lease features a 7.14% rent escalation in 2022 and 7.50% rent escalation in each of the two 5-year renewal option periods. Cricket Wireless offers voice, text, and data with no annual contracts. Cricket Wireless is a wholly owned subsidiary of AT&T Inc, a publicly traded company (NYSE: T) and investment grade rated company with a Standard & Poor’s rating of BBB+. The Cricket Wireless lease is personally guaranteed by the CEO of Gateway Wireless, LLC; a rapidly-growing Cricket Wireless franchisee with more than 70 store locations.

NET LEASE INVESTMENT OFFERING

INVESTMENT HIGHLIGHTS

INVESTMENT HIGHLIGHTS:

NET LEASE INVESTMENT OFFERING

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Recently executed 10 year lease

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Full building renovation in 2017

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Rental escalation in primary terms and renewal option periods

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Absolute triple net with zero landlord responsibilities

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Located along the primary north-south thoroughfare in the area

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Positioned in a retail corridor featuring a Walmart Supercenter

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Immediately off of Interstate 55 with interchangeable access on and off of the thoroughfare

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Experienced franchisee with personal guarantee

PROPERTY OVERVIEW

PROPERTY OVERVIEW:

NET LEASE INVESTMENT OFFERING

Price:

$613,139

Cap Rate:

6.85%

Rent Schedule:

NOI $42,000 $45,000 $48,375 $52,003

Escalation Date 5/1/2022 5/1/2027 (Option 1) 5/1/2032 (Option 2)

Renewal Options:

Two 5-Year

Lease Commencement Date:

May 1, 2017

Lease Expiration Date:

April 30, 2027

Tenant:

Gateway Wireless, LLC d/b/a Cricket Wireless

Year Built / Renovated:

2008 / 2017

Parking:

28 Spaces

Lease Type:

NNN (No Landlord Responsibilities)

Building Size:

2,150 SF

Land Size:

0.67 Acres

PHOTOGRAPHS

NET LEASE INVESTMENT OFFERING

AERIAL

NET LEASE INVESTMENT OFFERING

SITE PLAN

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MAP

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DEMOGRAPHIC REPORT

DEMOGRAPHIC REPORT:

NET LEASE INVESTMENT OFFERING

Population

3-Mile

5-Mile

10-Mile

Total Population

10,044

12,242

17,610

Total Households

3,928

4,736

6,734

Income

3-Mile

5-Mile

10-Mile

Median Household Income

$43,233

$44,865

$47,753

Average Household Income

$57,867

$60,609

$62,769

MARKET OVERVIEW

MARKET OVERVIEW:

Perryville, Missouri

Perryville is a city and county seat in Perry County, Missouri with a population of more than 8,250 people. The City traces its origins to Missouri Statehood. On August 7, 1821, three days prior to the official admission of Missouri to the Union, the County was given 51 acres that became the original town. The community was incorporated as a village in 1831.

The dedicated efforts of the Chamber of Commerce, the Perryville Development Corporation, and City officials led to the development of the Perryville Industrial Park and the establishment of an Enterprise Zone. Since its opening, the Perryville Industrial Park has thrived and is now home to a diverse mix of industries. Among contemporary manufacturers in Perryville is Gilster-Mary Lee Corporation, with two facilities (a 125,000-square-foot baking mix plant and a 185,000-square-foot breakfast cereal plant). Also in the Perryville area are Sabreliner Corporation, a company which provides maintenance and overhauling for both military and business jet aircraft engines; Seguin Moreau, a French wine barrel manufacturer, that mills barrel staves and heads from Perry County’s white oak forests to supply its cooperage in Napa, California. The cooperage uses the wood it gets from Perry County to produce American oak wine barrels for the international wine industry; and TG Missouri Corporation, a subsidiary of the Japanese company Toyoda Gosei, manufactures airbags, steering wheels and interior trim pieces for automobile manufacturers, most notably Toyota. BBL Buildings and Components and Stark Truss, both of whom manufacture building trusses for commercial and residential construction; Bierk Farms Gravel Company, who screens and sells creek gravel in various sizes.

The completion of the Interstate 55 corridor in 1972 was also an important milestone in the City’s economic development.

Located adjacent to the Interstate 55 corridor, Perryville gained access to the nationwide interstate transportation and distribution network and to an important incentive to prospective new businesses. The construction of the Highway 51 bypass removed heavy traffic through the City and paved the way for new commercial and service growth near the Interstate 55 interchange. www.cityofperryville.com

NET LEASE INVESTMENT OFFERING

TENANT OVERVIEW

TENANT OVERVIEW:

Cricket Wireless

Cricket Wireless is an American prepaid wireless service provider in the United States. Cricket Wireless offers voice, text, and data with no annual contracts. The power of Cricket is its nationwide 4G LTE network that covers more than 319 million people; easy and affordable plans and prices that includes monthly taxes and fees; and a great selection of phones customers love.

Cricket Wireless is a wholly owned subsidiary of AT&T Inc, a publicly traded company (NYSE: T) and investment grade rated company with a Standard & Poor’s rating of BBB+. Cricket Wireless was founded in 1999 by Leap Wireless International, Inc. The company’s first market was Chattanooga, Tennessee and through much of its early growth became known as a network focused on small, rural markets. In July 2013, AT&T Inc. agreed to acquire Cricket Wireless’ parent company Leap Wireless International for $1.2 billion. The merger was approved by the Federal Communications Commission in March 2014. Cricket Wireless is headquartered in Atlanta, Georgia.

Website: www.cricketwireless.com Founded: 1999 Headquarters: Atlanta, Georgia Parent Company: AT&T, Inc.

Gateway Wireless, LLC

Gateway Wireless, LLC is a rapidly-growing Cricket Wireless franchisee with more than 70 locations in 8 U.S. states. The company has plans to expand its operation to 90 units by the end of 2017 and intends to grow to more than 200 units in a five year period. The CEO of Gateway Wireless is an experienced franchisee, having entered the industry originally as an AT&T franchisee and attracted by the company’s strong growth potential. Gateway Wireless is headquartered in Farmingdale, Missouri.

NET LEASE INVESTMENT OFFERING

Randy Blankstein President 847.562.0003 randy@bouldergroup.com

Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com

666 Dundee Road, Suite 1801 Northbrook, IL 60062 www.bouldergroup.com