2310 LINCOLN HWY E Lancaster PA 17602-1114

CORPORATE GROUND LEASE WITH INCREASES – The Tenant, RARE Hospitality International Inc, d/b/a LongHorn Steakhouse, has six years remaining on an absolute ground NNN lease with four, five-year option periods. The lease features 10 percent rental increases every five years and is guaranteed by Darden Restaurants, Inc., the premier and world’s largest full-service dining company. Darden Restaurants is publicly traded on the New York Stock Exchange under the ticker “DRI” and has an investment grade credit rating of “BBB” by Standard & Poor’s and “Baa2” by Moody’s.

HIGH TRAFFIC ROUTE 30; A REGIONAL LOCATION– The Tenant has prominent frontage along U.S. Route 30, one of Lancaster’s primary east-west roadways and one of its busiest with 15,182 VPD. Route 30 provides direct and easy access to Pennsylvania’s major highways, including travel from nearby Harrisburg (45 miles), Philadelphia (70 miles), Baltimore (80 miles), and Washington D.C. (115 miles). The 5,842-square-foot restaurant has a shared means of access with the neighboring 112-room Tru by Hilton hotel and is across the street from notable restaurant users including Golden Corral, Texas Roadhouse, Applebee’s, and Red Robin. This location has a liquor license which is a highly valued asset as the number of licenses are limited in this submarket.

PROXIMATE TO STRONG RETAIL & TOURISM DRIVERS – The Tenant is among a large critical mass of national retailers that anchor the nearby developments of Mill Creek Square, East Towne Center, Tanger Outlet Center and The Shops @ Rockvale. These retail drivers draw the majority of their customer base from the Lancaster Metro Area, and nearby Baltimore, Philadelphia, Harrisburg, and the Wilmington Metro area. Additionally, the outlet centers draw from trade areas extending from 50-to-70 miles, or more. This corridor also benefits greatly from its proximity to numerous tourism drivers, including Lancaster’s most popular attractions Dutch Wonderland, Strasburg Railroad, Kitchen Kettle Village, the Magic & Wonder Theater, Sight and South Theater and the American Music Theater. These attractions draw more than 8 million visitors per year to Lancaster.

LEADING FULL-SERVICE STEAKHOUSE – LongHorn Steakhouse is an American casual dining restaurant chain with more than 530 locations throughout the country and over 40 years of expertise. Amidst the Covid-19 shutdowns, the restaurant chain simplified operations, cut certain menu items, cut back on marketing spending and expanded takeout capabilities. As a result, LongHorn Steakhouse saw its same-store sales rise 31.6% in Q3 2022, much as it has in prior quarters. The chain’s sales bounced back faster than its sister concept Olive Garden after building a strong takeout business earlier in the pandemic

COUNTY SEAT LOCATION – Located in South Central Pennsylvania, Lancaster serves as the seat of Lancaster County and a popular destination for daytrips and weekend getaways, drawing nearly nine million tourists each year. The Lancaster metropolitan area is the seventh fastest growing in the state as of the 2020 Census. Population grew 6.5 percent over the past decade, with the Lancaster municipality among the fastest growing at 15.4 percent. Presently, there are 86,042 residents within five-miles with a daytime population of 93,344. Population is projected to increase an additional two-to-three percent by 2026.

PREMIER FULL-SERVICE DINING COMPANY – Darden Restaurants is the premier full-service dining company, operating some of the most recognizable and successful brands in full-service dining, such as Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s. The company, headquartered in Orlando, FL, owns and operates more than 1,800 restaurants across the United States, and serves more than 320 million guests annually. Darden Restaurants, Inc. recorded net income of $632 million and revenue of $7.2 billion in Fiscal Year 2021, with forecasted revenue of $9.55$-9.62 billion in FY 2022.

CORPORATE GROUND LEASE BY INVESTMENT GRADE TENANT

LOW & REPLACEABLE RENTAL RATE ON HIGH TRAFFIC ROAD (15,182 VPD)

LARGE 1.69 ACRE SITE WITH VALUABLE LIQUOR LICENSE

PROXIMATE TO TOURISM DRIVERS THAT ATTRACT 8+ MILLION VISITORS PER YEAR

COUNTY SEAT LOCATION PROXIMATE TO PHILADELPHIA AND BALTIMORE