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Dave's Hot Chicken 3667 E Grand River Ave 4,223 SF Retail Building Howell, MI 48843 $2,240,062 CAD ($530.44 CAD/SF) 6.15% Cap Rate

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INVESTMENT HIGHLIGHTS

Drive-through equipped former Wendy’s retrofitted for Dave’s Hot Chicken and delivered to the tenant in essentially brand-new condition following sign
Dave’s Hot Chicken is backed by Roark Capital Group, one of the leading private equity firms in the restaurant sector
Ten year original lease term with 3 percent annual rent increases beginning in 2027.

Tenant is Dave’s Hot Chicken, a fast-growing, nationally and internationally expanding fast-casual restaurant concept specializing in Nashville-style
Lease is with Hot North Chicken LLC, a Michigan-based Dave’s Hot Chicken franchisee.
Two five-year renewal options with 3 percent annual rent increases during each option period.

EXECUTIVE SUMMARY

Drive-through equipped former Wendy’s retrofitted for Dave’s Hot Chicken and delivered to the tenant in essentially brand-new condition following significant renovation.