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9950 Southeast 15th Street, Midwest City, OK , 73130
  • Size SF 14,650
  • Built/Renov2004
  • Price/SF$335
  • Lease Start01-01-2005
  • Rent/SF$20.93
  • Lease Type Abs NNN
  • Lot/AC1.42
  • Pop 5MI93,982

4,906,000

  • Cap Rate 6.25%
  • NOI $306,638
  • R. Term/Yrs 11.6
  • Guarantor Corp T + R
  • # Units 13,532
  • Signalized intersection

  • In location for years

  • Near major nationals

  • Strategically located

  • Top 100 MSA

  • Affluent suburb location

  • Absolute NNN

  • Long 10+ yr lease

  • Traded and rated company

  • Investment grade tenant

  • ...
  • Walgreens has been operating in this location since 2005
  • The tenant has 11+ years remaining on the current lease term with 9 (5-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant
  • Tenant Walgreens
  • Guarantor Corp T and Rated
  • #Units 13,532
  • Moody's/S&P Baa2/ BBB-
  • Stock NASDAQ: WBA

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health information, and photo services. Walgreens was founded by Charles R. Walgreen in Chicago, IL in 1901 at which time their stores were connected to local groceries. In 2009 Walgreens changed their layouts to be freestanding corner stores, with the entrance on the street with the most traffic flow, with many stores featuring a drive-through pharmacy. In 2014 Walgreens became a subsidiary of holding company Walgreens Boots Alliance when it merged with Switzerland-based Alliance Boots. As of December 2023, Walgreens operates approximately 13,500 locations across the U.S., Europe, and Latin America, with over 8,600 retail pharmacies located in the U.S..

Walgreens Boots Alliance, Inc., (NASDAQ: WBA) is a British-American holding company that owns the retail pharmacy chains Walgreens in the US and Boots in the UK, as well as several pharmaceutical manufacturing and distribution companies. WBA employs more than 325,000 people and has a presence through its portfolio of consumer brands: Walgreens, Boots, Duane Reade, the No7 Beauty Company, Benavides in Mexico, and Ahumada in Chile. In 2023, the company’s market cap was over $22.51B and its revenue was $142.40B. Walgreens Boots Alliance, Inc., has a credit rating of Moody's/S&P Baa2/BBB- and is headquartered in Deerfield IL.

...
110 Walnut Street, Highland, IL , 62249
  • Size SF 14,820
  • Built/Renov2004
  • Price/SF$291
  • Lease Start09-01-2004
  • Rent/SF$18.89
  • Lease Type Abs NNN
  • Lot/AC1.35
  • Pop 5MI15,403

4,308,000

  • Cap Rate 6.50%
  • NOI $280,000
  • R. Term/Yrs 11.8
  • Guarantor Corp T + R
  • # Units 13,532
  • Signalized intersection

  • In location for years

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Affluent AHHI $100K 5 Mi

  • Recently extended lease

  • Absolute NNN

  • Traded and rated company

  • Investment grade tenant

  • ...
  • Walgreens has been operating in this location for 20 years
  • The tenant has 11+ years remaining on the current lease term with 9 (5-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant
  • Tenant Walgreens
  • Guarantor Corp T and Rated
  • #Units 13,532
  • Moody's/S&P Baa2/ BBB-
  • Stock NASDAQ: WBA

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health information, and photo services. Walgreens was founded by Charles R. Walgreen in Chicago, IL in 1901 at which time their stores were connected to local groceries. In 2009 Walgreens changed their layouts to be freestanding corner stores, with the entrance on the street with the most traffic flow, with many stores featuring a drive-through pharmacy. In 2014 Walgreens became a subsidiary of holding company Walgreens Boots Alliance when it merged with Switzerland-based Alliance Boots. As of December 2023, Walgreens operates approximately 13,500 locations across the U.S., Europe, and Latin America, with over 8,600 retail pharmacies located in the U.S..

Walgreens Boots Alliance, Inc., (NASDAQ: WBA) is a British-American holding company that owns the retail pharmacy chains Walgreens in the US and Boots in the UK, as well as several pharmaceutical manufacturing and distribution companies. WBA employs more than 325,000 people and has a presence through its portfolio of consumer brands: Walgreens, Boots, Duane Reade, the No7 Beauty Company, Benavides in Mexico, and Ahumada in Chile. In 2023, the company’s market cap was over $22.51B and its revenue was $142.40B. Walgreens Boots Alliance, Inc., has a credit rating of Moody's/S&P Baa2/BBB- and is headquartered in Deerfield IL.

...
6135 San Juan Avenue, Citrus Heights, CA , 95610
  • Size SF 72,660
  • Built/Renov2009
  • Price/SF$143
  • Lease Start02-01-2010
  • Rent/SF$9.69
  • Lease Type Double NN
  • Lot/AC5.55
  • Pop 5MI387,334

10,419,970

  • Cap Rate 6.75%
  • NOI $703,749
  • R. Term/Yrs 5.6
  • Guarantor Corp T + R
  • # Units 1,174
  • Signalized intersection

  • In location for years

  • High traffic 50M+ VPD

  • Near major nationals

  • Big Box center

  • Top 100 MSA

  • Strong demographics

  • Long operation history

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Kohls has been operating in this location since 2010
  • The tenant has 5+ years remaining on the current lease term with 2 (5-year) and 1 (4-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporate guaranteed lease
  • Tenant Kohl's
  • Guarantor Corp T and Rated
  • #Units 1,174
  • Moody's/S&P Ba2/ BB
  • Stock NYSE: KSS

Kohl's Corporation (Kohl’s) (NYSE: KSS) is an American department store retail chain that sells moderately-priced private and national brand apparel, footwear, accessories, beauty, and home products. Their private portfolio includes well-known established brands such as Croft & Barrow, Jumping Beans, SO, Sonoma Goods for Life, and Tek Gear, and exclusive brands that are developed and marketed through agreements with nationally-recognized brands such as Food Network, LC Lauren Conrad, Nine West, and Simply Vera Vera Wang. Kohl’s Corporation was organized in 1988 and became a publicly traded company in 1992. As of February 3, 2024, Kohl’s operated 1,174 stores in 49 states (except Hawaii) and had employed over 95,000 people. The company has an S&P rating of BB and a long-term Moody’s credit rating of Baa2. Their 2023 market cap was $3.17B and their annual revenue was $18.57B. Kohl’s is headquartered in Menomonee Falls, WI.

...
9447 U.S. 80, Simsboro, LA , 71275
  • Size SF 8,320
  • Built/Renov2018
  • Price/SF$113
  • Lease Start08-02-2018
  • Rent/SF$8.47
  • Lease Type Double NN
  • Lot/AC0.94
  • Pop 5MI7,522

940,000

  • Cap Rate 7.50%
  • NOI $70,500
  • R. Term/Yrs 4.8
  • Guarantor Corp T + R
  • # Units 8,359
  • Build to suit

  • Strategically located

  • Freeway close

  • Highway location

  • Below Market Rent

  • Limited competition

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

  • ...
  • Family Dollar has 4+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features $0.50/PSF rental escalations throughout the initial term and option periods
  • Bite-sized deal | Below market rent
  • Corporate guarantee | Investment grade tenant
  • Tenant Family Dollar
  • Guarantor Corp T and Rated
  • #Units 8,359
  • Moody's/S&P Baa2/ BBB
  • Stock NASDAQ: DLTR

Family Dollar is an American retail, variety discount store chain, with over 8,000 locations in all states except Alaska and Hawaii. The chain operates general merchandise retail discount stores providing consumers with a selection of competitively-priced merchandise in convenient neighborhood stores. Founded in 1959, in North Carolina, Family Dollar went public in 1970. In 2001, they joined the S&P 500 stock market index and in 2002, the Fortune 500 list of largest publicly held companies. In 2015, Family Dollar was acquired by Dollar Tree for $8.5B. As of early 2024, the chain operated more than 8,350 stores and employed over 77,000 people.

Dollar Tree (NASDAQ: DLTR) is a leading operator of retail discount stores. They offer a variety of discounted merchandise under the brand names of Dollar Tree, Family Dollar and Dollar Tree Canada. Originally founded in 1953 as a Ben Franklin variety store in Norfolk, VA, the founders later expanded into toys by 1970. Then in 1989, the founders sold their KK Toy division and re-focused on dollar stores, opening their first Dollar Tree-branded store in Sumter, SC. In 2014, Dollar Tree acquired Family Dollar, bringing life to the Family Dollar | Dollar Tree combo store concept. As of early 2024, they operate more than 16,750 stores across 48 states and five Canadian provinces. Dollar Tree had a 2023 market cap of $30.94B. The company has an investment grade credit rating of BBB, and revenue for 2023 was $29.68B. Dollar Tree is headquartered in Chesapeake, VA.

...
1321 Allegheny Street, Jersey Shore, PA , 17740
  • Size SF 10,125
  • Built/Renov2005
  • Price/SF$413
  • Lease Start12-01-2020
  • Rent/SF$23.72
  • Lease Type NN+
  • Lot/AC1.19
  • Pop 5MI13,136

4,177,250

  • Cap Rate 5.75%
  • NOI $240,188
  • R. Term/Yrs 11.4
  • Guarantor Corp T + R
  • # Units 9,395
  • Signalized intersection

  • Hard corner intersection

  • Near major nationals

  • Strategically located

  • Hospital close

  • Long 10+ yr lease

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

  • ...
  • CVS has occupied the site since 2005 and recently extended the term of its lease for an additional 15 years
  • The lease features 1 (4-year) & 1 (3-year) renewal options | 6% rental increase in the second option period
  • Favorable NN+ lease with landlord responsible for roof & structure
  • Corporate guaranteed lease (NYSE: CVS)
  • Investment grade tenant (S&P: BBB)
  • Tenant CVS Pharmacy
  • Guarantor Corp T and Rated
  • #Units 9,395
  • Moody's/S&P Baa2/ BBB
  • Stock NYSE: CVS

CVS Pharmacy, Inc. is an American retail corporation and is the largest pharmacy chain in the United States by number of locations and total prescription revenue. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods. Founded in 1963, as of December 31, 2023, the company had more than 9,000 retail locations, more than 1,000 walk-in medical clinics, and 204 primary care medical clinics. CVS Pharmacy is a subsidiary of CVS Health.

CVS Health Corporation (NYSE: CVS) is the world’s largest healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands. The Company maintains a national network of approximately 66,000 retail pharmacies, consisting of approximately 38,000 chain pharmacies (which include CVS pharmacy locations) and approximately 28,000 independent pharmacies, in the U.S., including Puerto Rico, the District of Columbia, Guam, and the U.S. Virgin Islands. The company’s market cap is $101.61B and they reported a 2023 revenue of $357.77B. CVS Health is headquartered in Woonsocket, RI.

...
16738 US Highway 70, Lone Grove, OK , 73443
  • Size SF 8,000
  • Built/Renov2006
  • Price/SF$106
  • Lease Start02-17-2006
  • Rent/SF$7.87
  • Lease Type Double NN
  • Lot/AC0.58
  • Pop 5MI8,305

850,270

  • Cap Rate 7.40%
  • NOI $62,920
  • R. Term/Yrs 5.5
  • Guarantor Corp T + R
  • # Units 8,359
  • Build to suit

  • In location for years

  • Dense retail corridor

  • Near major nationals

  • Strong tenant synergy

  • Affluent AHHI $100K 5 Mi

  • Long operation history

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

  • ...
  • Family Dollar has been operating in this location since 2006
  • The tenant has 5+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporare guatantee | Investment grade tenant
  • Tenant Family Dollar
  • Guarantor Corp T and Rated
  • #Units 8,359
  • Moody's/S&P Baa2/ BBB
  • Stock NASDAQ: DLTR

Family Dollar is an American retail, variety discount store chain, with over 8,000 locations in all states except Alaska and Hawaii. The chain operates general merchandise retail discount stores providing consumers with a selection of competitively-priced merchandise in convenient neighborhood stores. Founded in 1959, in North Carolina, Family Dollar went public in 1970. In 2001, they joined the S&P 500 stock market index and in 2002, the Fortune 500 list of largest publicly held companies. In 2015, Family Dollar was acquired by Dollar Tree for $8.5B. As of early 2024, the chain operated more than 8,350 stores and employed over 77,000 people.

Dollar Tree (NASDAQ: DLTR) is a leading operator of retail discount stores. They offer a variety of discounted merchandise under the brand names of Dollar Tree, Family Dollar and Dollar Tree Canada. Originally founded in 1953 as a Ben Franklin variety store in Norfolk, VA, the founders later expanded into toys by 1970. Then in 1989, the founders sold their KK Toy division and re-focused on dollar stores, opening their first Dollar Tree-branded store in Sumter, SC. In 2014, Dollar Tree acquired Family Dollar, bringing life to the Family Dollar | Dollar Tree combo store concept. As of early 2024, they operate more than 16,750 stores across 48 states and five Canadian provinces. Dollar Tree had a 2023 market cap of $30.94B. The company has an investment grade credit rating of BBB, and revenue for 2023 was $29.68B. Dollar Tree is headquartered in Chesapeake, VA.

...
4215 Linden Avenue, Dayton, OH , 45432
  • Size SF 2,325
  • Built/Renov2023
  • Price/SF$995
  • Lease Start05-16-2023
  • Rent/SF$54.75
  • Lease Type NN+
  • Lot/AC0.62
  • Pop 5MI201,462

2,314,000

  • Cap Rate 5.50%
  • NOI $127,294
  • R. Term/Yrs 13.10
  • Guarantor Corp Traded
  • # Units 3,437
  • New construction

  • Build to suit

  • Near major nationals

  • Freeway visibility

  • Top 100 MSA

  • Strong demographics

  • Long 10+ yr lease

  • Favorable NN+ lease

  • Corporate Guarantee

  • Publicly traded company

  • ...
  • New 2023 construction
  • Chipotle has 13+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease
  • Tenant Chipotle Mexican Grill
  • Guarantor Corp Traded
  • #Units 3,437
  • Stock NYSE: CMG

Chipotle Mexican Grill, Inc., or “Chipotle”, is an American chain of fast-casual restaurants in the U.S., United Kingdom, Canada, Germany, and France. The Fortune 500 company specializes in made-to-order burritos, burrito bowls, tacos, quesadillas, and salads. Founded in 1993 in Denver, CO, Chipotle had grown to 16 restaurants in the state when McDonald’s Corporation became a major investor in 1998. By 2006, McDonald’s had fully divested itself from Chipotle. That same year, the company went public (NYSE: CMG), and the chain grew to over 500 locations. As of September 2023, the company operated more than 3,350 locations in 49 states and territories, with 65+ international restaurants. The brand employs more than 115,000 people. Chipotle is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. At the end of 2023, Chipotle Mexican Grill, Inc. earned a revenue of $9.5B+ and a market cap of $62.7B+, representing more than a 63% increase compared to the prior year, for the latter. The company is headquartered in Newport Beach, CA.

...
9187 Montevallo Road, Alabaster, AL , 35007
  • Size SF 2,500
  • Built/Renov2024
  • Price/SF$1,136
  • Lease Start07-11-2024
  • Rent/SF$58.50
  • Lease Type Abs NNN
  • Lot/AC1.52
  • Pop 5MI56,488

2,840,000

  • Cap Rate 5.15%
  • NOI $146,250
  • R. Term/Yrs 25.0
  • Guarantor Franchisee
  • # Units 120
  • New construction

  • Build to suit

  • Near major nationals

  • WalMart out-parcel

  • Top 100 MSA

  • Affluent AHHI $100K 5 Mi

  • Brand new lease

  • Long 20+ yr lease

  • Absolute NNN

  • 100+ unit franchisee backed

  • ...
  • Brand-new 2024 construction
  • New 25 year lease with 6 (5-year) options to extend
  • The lease features 1% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Strong guarantee | Lease is backed by Tacala, LLC, an experienced and successful operator with 370+ Taco Bell locations across the Southeast and Texas
  • Tenant Taco Bell
  • Guarantor Franchisee
  • #Units 120
  • Moody's/S&P Ba2/ BB+
  • Stock NYSE: YUM

Taco Bell is an American-based chain of fast food restaurants originating in Irvine, California in 1962, by founder Glen Bell. Taco Bell is the leading Mexican-inspired, quick-service restaurant brand serving a variety of tacos, burritos, quesadillas, nachos, novelty and specialty items, and multiple "value menu" items. Locations typically feature a 2,000 - 2,600 square foot building with a drive-thru window, situated on 0.5 - 1.2 acre of land. The chain has 8,564 restaurants in 32 countries. 2023 revenue for Taco Bell was $15.92B, an 8.7% increase from 2022.

Yum! Brands, Inc. (or Yum!) (NYSE: YUM), formerly Tricon Global Restaurants, Inc., is an American fast food corporation. Yum! operates the brands KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, except in China, where the brands are operated by a separate company, Yum China. Founded in 1977, when PepsiCo acquired Pizza Hut, the company currently operates over 58,700 company-owned and franchised restaurant locations across 157 countries and territories worldwide. The company closed out 2023 with system sales of $64.9B, across all divisions, with a current market cap of $39.0B. The company has an S&P rating of BB+ and a long-term credit rating of Ba2 from Moody’s. They are headquartered in Louisville, KY.

Tacala’s Founders, Dick Reese, and Don Ghareeb opened our first Taco Bell in 1989 in Columbiana, Alabama. Taco Bell locations have more than tripled in the past 30+ years, and Tacala has grown to over 340 locations in the Southeast and Texas. Altamont Capital Partners invested in Tacala in 2012 and has helped drive explosive unit growth over the past eight years. In recognition of Don Ghareeb’s impact on our company and culture, he was named Chairman Emeritus. Even after 30 years and 340+ Taco Bell restaurants our focus has stayed the same: serve our customers, serve our teams, and serve our communities with kindness. We call this our Here To Serve principle; it’s what we do and a credit to our success.

...
2079 LPGA Boulevard, Daytona Beach, FL , 32117
  • Size SF 551
  • Built/Renov2024
  • Price/SF$3,327
  • Lease Start08-14-2024
  • Rent/SF$199.64
  • Lease Type Abs NNN
  • Lot/AC0.95
  • Pop 5MI117,329

1,833,000

  • Cap Rate 6.00%
  • NOI $110,000
  • R. Term/Yrs 20.0
  • Guarantor Franchisee
  • # Units 35
  • New construction

  • Build to suit

  • Near major nationals

  • Strategically located

  • Dense 100M+ pop 5 mi

  • Top 100 MSA

  • Income tax free state

  • Brand new lease

  • Long 20+ yr lease

  • 25+ unit franchisee backed

  • ...
  • Brand-new 2024 construction
  • New 20-year ground lease with 4 (5-year) options to extend
  • The lease features 1% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by 7 Venture, Inc. (35+ Unit Operator)
  • Tenant 7 Brew Coffee
  • Guarantor Franchisee
  • #Units 35
  • Stock Private

7 Brew Coffee is an American drive-thru coffee chain that focuses on bringing high-quality, locally roasted, and fresh coffee beans to the market. The Arkansas-based coffee stands have a retro design that fits around a toll-booth style kiosk, serving hot and cold coffee varieties, infused energy drinks, Italian sodas, smoothies, shakes, and teas. The coffee served comes from a blend of beans sourced from Ethiopia, Columbia, and Brazil. The first stand opened in Rogers, AR in 2017 and is mostly based in Northwest Arkansas. After Drink House Holdings, LLC made a majority investment in the company in 2021, the company started franchising. Today, the chain is rapidly expanding with 165 locations planned in Florida and over 200 locations planned in North Carolina, South Carolina, Georgia, Indiana, and Oklahoma over the next several years. In 2022, it is estimated there were about 12 company-owned stores and over 35 stores in total. The average store gross sales are $2,394,112. The company is headquartered in Fayetteville, Arkansas.

...
3805 Gulf Breeze Parkway, Gulf Breeze, FL , 32563
  • Size SF 5,964
  • Built/Renov2002
  • Price/SF$387
  • Lease Start12-01-2017
  • Rent/SF$24.21
  • Lease Type Abs NNN
  • Lot/AC1.33
  • Pop 5MI26,658

2,310,000

  • Cap Rate 6.25%
  • NOI $144,404
  • R. Term/Yrs 13.4
  • Guarantor Corporate
  • # Units 250
  • Near major nationals

  • Shopping Ctr out-parcel

  • Highway location

  • Affluent AHHI $100K 5 Mi

  • Major MSA

  • Income tax free state

  • Absolute NNN

  • Long 10+ yr lease

  • Corporate Guarantee

  • Over 1000 units backed

  • ...
  • Ruby Tuesday has 13+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease
  • Tenant Ruby Tuesday
  • Guarantor Corporate
  • #Units 250
  • Stock Private

Ruby Tuesday Inc. is an American casual dining restaurant chain named after the Rolling Stones’ song of the same name. Founded in 1972, Ruby Tuesday currently owns, operates and franchises casual dining restaurants in the U.S., Guam, and five foreign countries under the Ruby Tuesday brand. The full-service eateries offer a menu of American and ethnic foods, including its signature Handcrafted Burgers, create your own fresh garden salad, pasta, and Burrito Bowls. There are more than 250 company-owned and franchised restaurant locations in the U.S. and around the world. Ruby Tuesday’s is headquartered in Maryville, TN

In 2017, the chain went private after being acquired by NRD Capital Management for $146M. NRD Capital, a private equity firm, invests in brands that offer superior products or services and compelling unit-level economics in order to help them strategically grow through the power of franchising. They are headquartered in Atlanta, GA operate over 900 locations globally, and have a combined annual systemwide revenue of $1.5B.

...
3065 Pepperell Parkway, Opelika, AL , 36801
  • Size SF 2,800
  • Built/Renov2024
  • Price/SF$1,006
  • Lease Start01-01-2024
  • Rent/SF$57.86
  • Lease Type Abs NNN
  • Lot/AC1.00
  • Pop 5MI81,295

2,817,391

  • Cap Rate 5.75%
  • NOI $162,000
  • R. Term/Yrs 20.5
  • Guarantor Franchisee
  • # Units 1
  • New construction

  • Build to suit

  • Dense retail corridor

  • Near major nationals

  • Freeway close

  • Strong tenant synergy

  • Brand new lease

  • Long 15+ yr lease

  • Absolute NNN

  • Personal guarantee

  • ...
  • Brand-new 2024 construction
  • 20-year lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Blue Bonnet Taco, Inc.
  • Tenant Del Taco
  • Guarantor Franchisee
  • #Units 1
  • Stock NASDAQ: JACK

Del Taco Restaurants Inc. is an American fast-food restaurant chain specializing in American-style Mexican cuisine and American foods such as burgers, fries, and shakes. Founded in 1964 in Yermo, California under the name Casa Del Taco. As of October 1, 2023, Del Taco has 171 company-operated and 421 franchise-operated Del Taco restaurants in 16 US states. Jack in the Box Inc. completed its acquisition of Del Taco Restaurants, Inc. in March of 2022 for approximately $585M. Del Taco is headquartered in Lake Forest, California.

Jack in the Box Inc. (NASDAQ: JACK) is a restaurant company that operates and franchises Jack in the Box and Del Taco restaurants. Jack in the Box opened its first restaurant in 1951, becoming one of the nation’s largest hamburger chains. As of October 1, 2023, there were 142 company-operated and 2,044 franchise-operated Jack in the Box restaurants in 21 states and Guam. The company had a 2023 market cap of $1.61B and a reported revenue of $1.47B. They are headquartered in San Diego, California.

...
3045 Pepperell Parkway, Opelika, AL , 36801
  • Size SF 2,089
  • Built/Renov2024
  • Price/SF$655
  • Lease Start08-28-2023
  • Rent/SF$31.12
  • Lease Type Abs NNN
  • Lot/AC0.84
  • Pop 5MI81,295

1,368,421

  • Cap Rate 4.75%
  • NOI $65,000
  • R. Term/Yrs 14.1
  • Guarantor Corp T + R
  • # Units 1,850
  • New construction

  • Build to suit

  • Dense retail corridor

  • Near major nationals

  • Freeway close

  • Absolute NNN

  • Long 10+ yr lease

  • Accelerated depreciation

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Brand-new 2024 construction
  • 15-year ground lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease
  • Tenant Valvoline
  • Guarantor Corp T and Rated
  • #Units 1,850
  • Moody's/S&P Ba2/ BB
  • Stock NYSE: VVV

Valvoline Inc. is a leading worldwide marketer and supplier of premium branded lubricants and automotive services, with sales in more than 140 countries. Valvoline was established in 1866 in Binghamton, NY by Dr. John Ellis, the inventor of a petroleum lubricant for steam engines. As of 2022, it is the second largest oil change service provider in the U.S. with a 10% market share, over 1,850 locations, and 10,000 employees. The company is also the No. 2 chain by number of stores in the U.S. under the Valvoline Instant Oil ChangeSM brand and the No. 3 chain by number of stores in Canada under the Valvoline Great Canadian Oil Change brand. The company has an S&P rating of BB and a Moody’s rating of Ba2. Valvoline (NYSE: VVV) is publicly traded and has a current market cap of $5.6B, and a reported 2023 revenue of $1.48B. Corporate headquarters are located in Lexington, KY.

...
512 West Morrow Road, Sand Springs, OK , 74063
  • Size SF 3,318
  • Built/Renov2024
  • Price/SF$1,254
  • Lease Start10-01-2024
  • Rent/SF$78.36
  • Lease Type Abs NNN
  • Lot/AC1.41
  • Pop 5MI36,754

4,160,000

  • Cap Rate 6.25%
  • NOI $260,000
  • R. Term/Yrs 20.2
  • Guarantor Franchisee
  • # Units 15
  • New construction

  • Hard corner intersection

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Brand new lease

  • Long 20+ yr lease

  • Absolute NNN

  • 24 hour store

  • Personal guarantee

  • ...
  • Brand-new 2024 construction
  • New 20-year lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by WAB Ventures, an Affiliate of K-Mac Enterprises
  • Tenant Whataburger
  • Guarantor Franchisee
  • #Units 15
  • Stock Private

Whataburger is an American regional fast-food restaurant chain. The company, founded by Harmon Dobson and Paul Burton, opened its first restaurant in Corpus Christi, TX, in 1950. Known for their many varieties of hamburgers, they also offer chicken sandwiches, sides, soft drinks, and a breakfast menu. The company currently has over 50,000 employees and 1000 locations, most of which are in TX and others in FL, AZ, and several other southern states. With more than $2.5B in revenue annually, Whataburger is headquartered in San Antonio, TX.

On June 14, 2019, the Dobson family sold its majority stake in the company to BDT Capital, a Chicago-based investment company. Byron David Trott is the founder, chairman, and CEO of BDT Capital Partners, a merchant bank that provides advice and capital to family and founder-led companies. BDT has partnered with other companies such as Krispy Kreme Doughnuts and Peet’s Coffee & Tea and currently has deployed more than $30B in capital.

The tenant responsible on the lease is WAB Venture, Inc. WAB Venture is currently expanding and has plans to operate up to 15 locations by the end of 2024. In addition, they intend to build a total of 40 locations in Arkansas & Oklahoma over the next several years.

WAB Venture is an affiliate of K Mac Enterprises, which is a leading quick-service restaurant franchisee founded in 1964 and achieves more than $600 million in annual sales. K Mac is headquartered in Fayetteville, Arkansas and over its 60-year history it has grown to become one of the largest restaurant operators in the U.S. With 346 Taco Bell locations, K Mac has operations in Arkansas, Indiana, Illinois, Kansas, Kentucky, Missouri, Mississippi, Oklahoma, Tennessee, & Texas.

...
40360 La Quinta Lane, Palmdale, CA , 93551
  • Size SF 20,015
  • Built/Renov2007/2018
  • Price/SF$300
  • Lease Start03-01-2023
  • Rent/SF$13.50
  • Lease Type Modified Gross
  • Lot/AC2.35
  • Pop 5MI170,900

6,000,000

  • Cap Rate 4.50%
  • NOI $270,279
  • R. Term/Yrs 3.7
  • Guarantor Corporate
  • # Units 1,700
  • Hard corner intersection

  • Build to suit

  • Near major nationals

  • Strategically located

  • Top 100 MSA

  • Strong demographics

  • Accelerated depreciation

  • Annual rent increases

  • Corporate Guarantee

  • Over 1000 units backed

  • ...
  • Caliber Collision has 3+ years remaining on the current lease term with 1 (5-year) option to extend
  • The lease features 2% annual rental escalations throughout the initial term and option periods
  • This location is in the 93rd percentile of all Calibers (Placer.ai)
  • Corporate guaranteed lease
  • Tenant Caliber Collision
  • Guarantor Corporate
  • #Units 1,700
  • Stock Private

Caliber Collision Centers is the largest collision repair company in America, which provides mechanical repair, quick oil change services, and glass repair and replacement. Founded in 1997, today the Caliber portfolio of brands has grown to more than 1,700 centers nationwide and features a full range of complementary automotive services, including Caliber Collision, one of the nation's largest auto collision repair providers across more than 40 states. In 2019, H&F acquired Caliber Collision and merged it with ABRA Auto Body & Glass, LP, an investment made in 2014. The company is headquartered in Lewisville, TX.

Hellman & Friedman LLC (H&F) is an American private equity firm that makes investments primarily through leveraged buyouts as well as growth capital investments. Founded in 1984, the firm has raised more than $35B of committed capital and invested in more than 80 companies. They are headquartered in San Francisco, CA.

...
2650 South 9th Street, Salina, KS , 67401
  • Size SF 4,212
  • Built/Renov1997/2017
  • Price/SF$503
  • Lease Start08-17-2016
  • Rent/SF$30.92
  • Lease Type Abs NNN
  • Lot/AC0.68
  • Pop 5MI47,284

2,118,000

  • Cap Rate 6.15%
  • NOI $130,236
  • R. Term/Yrs 11.11
  • Guarantor Franchisee
  • # Units 16
  • Signalized intersection

  • Hard corner intersection

  • Dense retail corridor

  • Near major nationals

  • Strategically located

  • Strong tenant synergy

  • Highway close

  • Absolute NNN

  • Long 10+ yr lease

  • Personal guarantee

  • ...
  • Burger King has 11+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 7.5% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Kansas King Inc. (16 units backed)
  • Tenant Burger King
  • Guarantor Franchisee
  • #Units 16
  • Stock NYSE: QSR

Burger King is the second-largest fast-food hamburger chain in the world. Their menu features their signature Whopper and Whopper Jr. hamburgers, chicken sandwiches, breakfast sandwiches, platters, sides, and beverages. Founded in 1954 in Jacksonville, FL as Insta-Burger King, the chain is now a subsidiary of Toronto-based Restaurant Brands International. Today, Burger King has 19,384 locations worldwide and global sales of over $27.02B. Burger King Corporation is headquartered in Miami, FL.

Restaurant Brands International Inc. (NYSE: QSR), or RBI, is an American-Canadian-based multinational fast food holding company, with over 30,000 restaurants operating in over 100 countries. The company’s brands include Burger King, Tim Hortons, and Firehouse Subs. The holding company’s 2022 revenue was reported at $7.02 B an 8% increase to the prior year. The company has a market cap of $35.96B and a long-term credit rating of BB from Standard & Poor’s. RBI is headquartered in Toronto, Ontario.

...
9145 North 91st Avenue, Peoria, AZ , 85345
  • Size SF 930
  • Built/Renov2024
  • Price/SF$3,398
  • Lease Start06-20-2024
  • Rent/SF$169.89
  • Lease Type Abs NNN
  • Lot/AC0.98
  • Pop 5MI313,939

3,160,000

  • Cap Rate 5.00%
  • NOI $158,000
  • R. Term/Yrs 14.11
  • Guarantor Franchisee
  • # Units 18
  • New construction

  • Build to suit

  • Near major nationals

  • Freeway close

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Long 10+ yr lease

  • Personal guarantee

  • ...
  • Brand-new 2024 construction
  • New 15-year lease with 3 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by West Side DB, LLC (18+ units backed)
  • Tenant Dutch Bros. Coffee
  • Guarantor Franchisee
  • #Units 18
  • Stock NYSE: BROS

Dutch Bros. Coffee (NYSE: BROS) is a drive-through, specialty coffee chain with company-owned and franchised locations expanding throughout the western United States. Most of its stores are drive-thru stands, selling hot and cold handcrafted drinks, including non-coffee options, and a selection of baked goods. Founded in 1992 by brothers Dane and Travis Boersma, Dutch Bros began with a double-head espresso machine and a pushcart in Grants Pass, Oregon. As of December 31, 2024, they operate 831 locations across 16 states. The chain became publicly traded in 2021. As of March 2023, the company has a market cap of $5.73B, and a reported revenue of $.96B. Dutch Bros. Coffee's headquarters are in Grants Pass, OR.

...
19073 I 35 N Frontage Rd, Kyle, TX , 78640
  • Size SF 7,926
  • Built/Renov2024
  • Price/SF$412
  • Lease Start10-19-2024
  • Rent/SF$19.56
  • Lease Type Abs NNN
  • Lot/AC1.98
  • Pop 5MI108,520

3,263,000

  • Cap Rate 4.75%
  • NOI $155,000
  • R. Term/Yrs 15.3
  • Guarantor Corp Traded
  • # Units 635
  • New construction

  • High traffic 50M+ VPD

  • Strategically located

  • Freeway visibility

  • Strong tenant synergy

  • Strong demographics

  • Income tax free state

  • Brand new lease

  • Long 15+ yr lease

  • Publicly traded company

  • ...
  • Brand-new 2024 construction
  • New 15-year ground lease with 2 (5-year) options to extend
  • The lease features 10% rental increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NASDAQ: TXRH)
  • Tenant Texas Roadhouse
  • Guarantor Corp Traded
  • #Units 635
  • Stock NASDAQ: TXRH

Texas Roadhouse is an American steakhouse that began in 1993 in Clarksville, IN. The chain specializes in Texas and Southwestern-style cuisines and is known by its “Legendary Food, Legendary Service '' motto. It is a Texas Roadhouse Inc. subsidiary with two other concepts (Bubba's 33 and Jaggers). The Company and its franchisees operate 635 restaurants system-wide in 49 states and 10 foreign countries, including 582 Texas Roadhouse restaurants, 45 Bubba’s 33 restaurants, and 8 Jaggers restaurants. Texas Roadhouse Inc. became publicly traded in 2005 (NASDAQ: TXRH). The company has a market cap of $10.02B; its 2023 revenue was $4.63B, an increase of 15.5% over the previous year’s revenue of $4.01B. The company is headquartered in Louisville, KY.

...
2840 West North Avenue, Chicago, IL , 60647
  • Size SF 2,911
  • Built/Renov1986/2017
  • Price/SF$1,750
  • Lease Start07-01-2012
  • Rent/SF$104.97
  • Lease Type Abs NNN
  • Lot/AC0.70
  • Pop 5MI1,323,065

5,093,024

  • Cap Rate 6.00%
  • NOI $305,581
  • R. Term/Yrs 8.3
  • Guarantor Franchisee
  • # Units 500
  • Hard corner intersection

  • In location for years

  • Dense retail corridor

  • Near major nationals

  • Strategically located

  • Top 100 MSA

  • Strong demographics

  • Absolute NNN

  • Annual rent increases

  • Top franchise operator

  • ...
  • Burger King has 8+ years remaining on the current lease term with 1 (10-year) option period
  • The lease features 1% annual rental escalations throughout the initial term, 4.4% at the start of option 1, 2.5% at the start of each remaining option
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Tri-City Foods, Inc. a wholly owned subsidiary of the Dhanani Group | Over 500 Burger Kings under management
  • Tenant Burger King
  • Guarantor Franchisee
  • #Units 500
  • Stock NYSE: QSR

Burger King is the second-largest fast-food hamburger chain in the world. Their menu features their signature Whopper and Whopper Jr. hamburgers, chicken sandwiches, breakfast sandwiches, platters, sides, and beverages. Founded in 1954 in Jacksonville, FL as Insta-Burger King, the chain is now a subsidiary of Toronto-based Restaurant Brands International. Today, Burger King has 19,384 locations worldwide and global sales of over $27.02B. Burger King Corporation is headquartered in Miami, FL.

Restaurant Brands International Inc. (NYSE: QSR), or RBI, is an American-Canadian-based multinational fast food holding company, with over 30,000 restaurants operating in over 100 countries. The company’s brands include Burger King, Tim Hortons, and Firehouse Subs. The holding company’s 2022 revenue was reported at $7.02 B an 8% increase to the prior year. The company has a market cap of $35.96B and a long-term credit rating of BB from Standard & Poor’s. RBI is headquartered in Toronto, Ontario.

...
426 East State Street, Fremont, OH , 43420
  • Size SF 356
  • Built/Renov2022
  • Price/SF$842
  • Lease Start07-01-2022
  • Rent/SF$50.54
  • Lease Type Abs NNN
  • Lot/AC0.50
  • Pop 5MI27,269

299,867

  • Cap Rate 6.00%
  • NOI $17,992
  • R. Term/Yrs 9.11
  • Guarantor Franchisee
  • # Units 370
  • New construction

  • New prototype

  • Build to suit

  • Near major nationals

  • Strategically located

  • Strong tenant synergy

  • Top 100 MSA

  • Absolute NNN

  • Long 10+ yr lease

  • Personal guarantee

  • ...
  • New 2022 construction
  • 9+ years remaining on the current ground lease term with 3 (5-year) options to extend
  • The lease features 9% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Franchisee & Personal guarantee
  • Tenant Biggby Coffee
  • Guarantor Franchisee
  • #Units 370
  • Stock Private

Biggby Coffee (pronounced "Big B") is an American coffeehouse franchise. Biggby offers customers signature coffees, teas and herbal teas, made-to-order beverages, assorted food, smoothies, and more. The first store, known as Beaner’s Coffee opened in April 1995 in East Lansing, MI. The company opened a second location in 1997 and began to franchise the following year. By the early 2000s, Beaner’s Coffee had expanded to 10+ stores in MI and OH. In 2007, the chain was renamed Biggby Coffee. During 2023, BiggBy opened 48 new locations and awarded another 88 franchises, with one-third of agreements being with existing franchise owners). At the start of 2024, the franchise chain operated more than 370 locations in 13 states throughout the US (VA, MI, OH, IN, ID, GA, NC, SC, WI, KY, TN, FL). They have 150+ stores in development. Biggby Coffee is headquartered in East Lansing, MI.

...
1306 North Main Street, Summerville, SC , 29483
  • Size SF 2,400
  • Built/Renov2013/2024
  • Price/SF$2,018
  • Lease Start08-15-2024
  • Rent/SF$95.83
  • Lease Type Abs NNN
  • Lot/AC0.53
  • Pop 5MI131,362

4,842,000

  • Cap Rate 4.75%
  • NOI $230,000
  • R. Term/Yrs 20.1
  • Guarantor Corp T + R
  • # Units 1,100
  • Signalized intersection

  • Recent renovation

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Long 20+ yr lease

  • Traded and rated company

  • Investment grade tenant

  • ...
  • Brand-new 20-year ground lease with 4 (5-year) options to extend
  • The lease features 8% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant
  • Tenant Fifth Third Bank
  • Guarantor Corp T and Rated
  • #Units 1,100
  • Moody's/S&P Baa1/ BBB+
  • Stock NASDAQ: FITB

Fifth Third Bank, a subsidiary of Fifth Third Bancorp, is a diversified financial services company. As of March 2023, Fifth Third had $171 billion in assets and operated more than 1,100 full-service Banking Centers and 2,400 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina, and South Carolina. Bancorp operates three main businesses: Commercial Banking, Consumer and Small Business Banking, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2023, had $574 billion in assets under care, of which it managed $59 billion for individuals, corporations, and not-for-profit organizations. Fifth Third Bank (NASDAQ: FITB) is ranked 411th on the Fortune 500 list. In March 2024, they had a market cap of $24.77B, and 2023 earned revenue of $8.52B. The company has an investment grade S&P credit rating of BBB+ and a long-term Moody’s credit rating of Baa1. Fifth Third Bancorp is headquartered in Cincinnati, OH.

...
2127 West State Road 434, Longwood, FL , 32779
  • Size SF 5,826
  • Built/Renov2022
  • Price/SF$464
  • Lease Start08-10-2022
  • Rent/SF$27.86
  • Lease Type NN+
  • Lot/AC0.69
  • Pop 5MI209,391

2,705,000

  • Cap Rate 6.00%
  • NOI $162,312
  • R. Term/Yrs 8.1
  • Guarantor Corp T + R
  • # Units 1,700
  • New construction

  • New roof

  • Near major nationals

  • Freeway close

  • Top 100 MSA

  • Strong demographics

  • Income tax free state

  • Favorable NN+ lease

  • Traded and rated company

  • Investment grade tenant

  • ...
  • New 2022 construction
  • Heartland Dental has 8 years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant
  • Tenant Heartland Dental
  • Guarantor Corp T and Rated
  • #Units 1,700
  • Stock NYSE: KKR

Heartland Dental Heartland Dental is the nation's largest dental support organization providing non-clinical, administrative support services. Heartland Dental partners with its supported dentists to deliver high-quality care across the full spectrum of dental services. They are considered to have the nation's largest clinical, operational, and leadership training infrastructure, leading talent acquisition and HR support, state-of-the-art equipment including digital workflows and scanning, best-in-class operations systems & support, and more. Founded in 1997, as of January 2024, the company provides services to over 2,600 dentists in over 1,700 dental offices across 38 states and the District of Columbia. The company became a subsidiary of KKR in 2018. Heartland Dental is headquartered in Effingham, IL.

KKR & Co, Inc. (NYSE: KKR) is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. Kohberg Kravis Roberts (KKR) was founded in 1976 and as of December 31, 2023, their private equity business line had $176.4B of assets under management. The company has an investment-grade S&P credit rating of A and a current market cap of $73.64B. Reported revenue in 2023 was $14.36B. KKR is headquartered in New York City.

...
1472 Jag Branch Boulevard, Kernersville, NC , 27284
  • Size SF 4,200
  • Built/Renov2022
  • Price/SF$633
  • Lease Start04-29-2022
  • Rent/SF$37.99
  • Lease Type NN+
  • Lot/AC0.72
  • Pop 5MI67,063

2,659,000

  • Cap Rate 6.00%
  • NOI $159,544
  • R. Term/Yrs 7.9
  • Guarantor Corp T + R
  • # Units 1,700
  • New construction

  • New roof

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Affluent suburb location

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

  • ...
  • New 2022 construction
  • Heartland Dental has 7+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant
  • Tenant Heartland Dental
  • Guarantor Corp T and Rated
  • #Units 1,700
  • Stock NYSE: KKR

Heartland Dental Heartland Dental is the nation's largest dental support organization providing non-clinical, administrative support services. Heartland Dental partners with its supported dentists to deliver high-quality care across the full spectrum of dental services. They are considered to have the nation's largest clinical, operational, and leadership training infrastructure, leading talent acquisition and HR support, state-of-the-art equipment including digital workflows and scanning, best-in-class operations systems & support, and more. Founded in 1997, as of January 2024, the company provides services to over 2,600 dentists in over 1,700 dental offices across 38 states and the District of Columbia. The company became a subsidiary of KKR in 2018. Heartland Dental is headquartered in Effingham, IL.

KKR & Co, Inc. (NYSE: KKR) is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. Kohberg Kravis Roberts (KKR) was founded in 1976 and as of December 31, 2023, their private equity business line had $176.4B of assets under management. The company has an investment-grade S&P credit rating of A and a current market cap of $73.64B. Reported revenue in 2023 was $14.36B. KKR is headquartered in New York City.

...
81 Tulip Oak Drive, Columbia, SC , 29203
  • Size SF 1,500
  • Built/Renov2023
  • Price/SF$1,084
  • Lease Start04-01-2024
  • Rent/SF$66.67
  • Lease Type Abs NNN
  • Lot/AC0.60
  • Pop 5MI103,987

1,626,000

  • Cap Rate 6.15%
  • NOI $100,000
  • R. Term/Yrs 14.8
  • Guarantor Franchisee
  • # Units 17
  • New construction

  • Build to suit

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Long 10+ yr lease

  • Accelerated depreciation

  • Personal guarantee

  • ...
  • New 2023 construction
  • Take 5 Oil Change recently executed a brand new 15-year ground lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Take 5 Carolinas (17 units backed)
  • Tenant Take 5 Oil Change
  • Guarantor Franchisee
  • #Units 17
  • Moody's/S&P B3/ B+
  • Stock NASDAQ: DRVN

Take 5 Oil Change is an industry-leading quick lube service featuring a unique drive-thru concept that allows customers to never leave the comfort of their car. The brand offers an average 10-minute oil change and ancillary services such as air filter replacement, wiper blade changes, and coolant exchanges. Established in 1984, as of December 2023, Take 5 Oil Change operates more than 1,000 corporate-owned and franchised shops in the U.S. and Canada. Take 5 is a subsidiary of Driven Brands Holdings Inc. The company is headquartered in Metairie, LA.

Driven Brands (NASDAQ: DRVN) is the largest automotive services company in North America and the parent company of Take 5 Oil Change, Take 5 Car Wash, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C, Auto Glass Now and CARSTAR. Driven Brands has more than 5,000 locations across 49 U.S. states and 13 countries. For fiscal year 2023, revenue was $2.30B, an increase of 13.32% versus the prior year. The company had a 2023 market cap of $2.33B and is headquartered in Charlotte, NC.

...
1900 North Croatan Highway, Kill Devil Hills, NC , 27948
  • Size SF 6,000
  • Built/Renov2024
  • Price/SF$1,025
  • Lease Start05-16-2024
  • Rent/SF$48.67
  • Lease Type Abs NNN
  • Lot/AC2.32
  • Pop 5MI13,776

6,147,000

  • Cap Rate 4.75%
  • NOI $292,000
  • R. Term/Yrs 19.10
  • Guarantor Corporate
  • # Units 1,032
  • New construction

  • Hard corner intersection

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Affluent AHHI $100K 5 Mi

  • Long 15+ yr lease

  • Absolute NNN

  • Accelerated depreciation

  • Corporate Guarantee

  • ...
  • Brand-new 2024 construction
  • Wawa executed a brand new 20-year ground lease with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease
  • Tenant Wawa
  • Guarantor Corporate
  • #Units 1,032
  • Stock Private

Wawa, Inc. is an American chain of convenience stores and gas stations located along the East Coast of the United States, operating in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Washington D.C., and Florida. Wawa, a privately held company, began in 1803 as an iron foundry in New Jersey. Today, the chain is an everyday stop for fresh, built-to-order foods, beverages, coffee, fuel services, and surcharge-free ATMs. With over 1000 convenience retail stores (over 750 offering gasoline), most Wawa locations are open 24 hours a day, 365 days a year. Wawa employs over 35,000 associates who own roughly 50% of the company, more than 40% of which is owned through the company’s employee stock-ownership program. Revenue for 2022 was $14.9B, an increase from $13B in 2021. Wawa is headquartered in Wawa, PA.

...
2590 East Highway 50, Clermont, FL , 34711
  • Size SF 13,650
  • Built/Renov2004
  • Price/SF$400
  • Lease Start03-26-2004
  • Rent/SF$24.00
  • Lease Type Abs NNN
  • Lot/AC1.93
  • Pop 5MI99,515

5,460,000

  • Cap Rate 6.00%
  • NOI $327,600
  • R. Term/Yrs 9.8
  • Guarantor Corp T + R
  • # Units 13,532
  • Signalized intersection

  • High traffic 50M+ VPD

  • Dense retail corridor

  • Top 100 MSA

  • Income tax free state

  • Long operation history

  • Recently extended lease

  • Absolute NNN

  • Traded and rated company

  • Investment grade tenant

  • ...
  • Walgreens has been operating in this location for 20+ years
  • The tenant has 9+ years remaining on the current lease term with 9 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant
  • Tenant Walgreens
  • Guarantor Corp T and Rated
  • #Units 13,532
  • Moody's/S&P Baa2/ BBB-
  • Stock NASDAQ: WBA

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health information, and photo services. Walgreens was founded by Charles R. Walgreen in Chicago, IL in 1901 at which time their stores were connected to local groceries. In 2009 Walgreens changed their layouts to be freestanding corner stores, with the entrance on the street with the most traffic flow, with many stores featuring a drive-through pharmacy. In 2014 Walgreens became a subsidiary of holding company Walgreens Boots Alliance when it merged with Switzerland-based Alliance Boots. As of December 2023, Walgreens operates approximately 13,500 locations across the U.S., Europe, and Latin America, with over 8,600 retail pharmacies located in the U.S..

Walgreens Boots Alliance, Inc., (NASDAQ: WBA) is a British-American holding company that owns the retail pharmacy chains Walgreens in the US and Boots in the UK, as well as several pharmaceutical manufacturing and distribution companies. WBA employs more than 325,000 people and has a presence through its portfolio of consumer brands: Walgreens, Boots, Duane Reade, the No7 Beauty Company, Benavides in Mexico, and Ahumada in Chile. In 2023, the company’s market cap was over $22.51B and its revenue was $142.40B. Walgreens Boots Alliance, Inc., has a credit rating of Moody's/S&P Baa2/BBB- and is headquartered in Deerfield IL.

...
7282 NC-42, Garner, NC , 27529
  • Size SF 5,745
  • Built/Renov2023
  • Price/SF$500
  • Lease Start08-25-2023
  • Rent/SF$29.75
  • Lease Type NN+
  • Lot/AC0.69
  • Pop 5MI60,419

2,873,000

  • Cap Rate 5.95%
  • NOI $170,940
  • R. Term/Yrs 9.1
  • Guarantor Corp T + R
  • # Units 1,700
  • New construction

  • New roof

  • Near major nationals

  • Shopping Ctr out-parcel

  • Top 100 MSA

  • Affluent AHHI $100K 5 Mi

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

  • ...
  • New 2023 construction
  • Heartland Dental has 9+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant
  • Tenant Heartland Dental
  • Guarantor Corp T and Rated
  • #Units 1,700
  • Stock NYSE: KKR

Heartland Dental Heartland Dental is the nation's largest dental support organization providing non-clinical, administrative support services. Heartland Dental partners with its supported dentists to deliver high-quality care across the full spectrum of dental services. They are considered to have the nation's largest clinical, operational, and leadership training infrastructure, leading talent acquisition and HR support, state-of-the-art equipment including digital workflows and scanning, best-in-class operations systems & support, and more. Founded in 1997, as of January 2024, the company provides services to over 2,600 dentists in over 1,700 dental offices across 38 states and the District of Columbia. The company became a subsidiary of KKR in 2018. Heartland Dental is headquartered in Effingham, IL.

KKR & Co, Inc. (NYSE: KKR) is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. Kohberg Kravis Roberts (KKR) was founded in 1976 and as of December 31, 2023, their private equity business line had $176.4B of assets under management. The company has an investment-grade S&P credit rating of A and a current market cap of $73.64B. Reported revenue in 2023 was $14.36B. KKR is headquartered in New York City.

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11007 Arcade Place, Bradenton, FL , 34211
  • Size SF 4,069
  • Built/Renov2022
  • Price/SF$713
  • Lease Start09-12-2022
  • Rent/SF$42.44
  • Lease Type NN+
  • Lot/AC1.61
  • Pop 5MI100,643

2,902,000

  • Cap Rate 5.95%
  • NOI $172,688
  • R. Term/Yrs 8.2
  • Guarantor Corp T + R
  • # Units 1,700
  • New construction

  • New roof

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Income tax free state

  • Favorable NN+ lease

  • Traded and rated company

  • Investment grade tenant

  • ...
  • New 2022 construction
  • Heartland Dental has 8+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure | New roof in 2022
  • Corporate guarantee | Investment grade tenant
  • Tenant Heartland Dental
  • Guarantor Corp T and Rated
  • #Units 1,700
  • Stock NYSE: KKR

Heartland Dental Heartland Dental is the nation's largest dental support organization providing non-clinical, administrative support services. Heartland Dental partners with its supported dentists to deliver high-quality care across the full spectrum of dental services. They are considered to have the nation's largest clinical, operational, and leadership training infrastructure, leading talent acquisition and HR support, state-of-the-art equipment including digital workflows and scanning, best-in-class operations systems & support, and more. Founded in 1997, as of January 2024, the company provides services to over 2,600 dentists in over 1,700 dental offices across 38 states and the District of Columbia. The company became a subsidiary of KKR in 2018. Heartland Dental is headquartered in Effingham, IL.

KKR & Co, Inc. (NYSE: KKR) is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. Kohberg Kravis Roberts (KKR) was founded in 1976 and as of December 31, 2023, their private equity business line had $176.4B of assets under management. The company has an investment-grade S&P credit rating of A and a current market cap of $73.64B. Reported revenue in 2023 was $14.36B. KKR is headquartered in New York City.

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4445 Highway 9, Boiling Springs, SC , 29316
  • Size SF 4,192
  • Built/Renov2023
  • Price/SF$807
  • Lease Start12-20-2023
  • Rent/SF$48.00
  • Lease Type NN+
  • Lot/AC1.16
  • Pop 5MI61,478

3,382,000

  • Cap Rate 5.95%
  • NOI $201,216
  • R. Term/Yrs 9.5
  • Guarantor Corp T + R
  • # Units 1,700
  • New construction

  • New roof

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Affluent suburb location

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

  • ...
  • New 2023 construction
  • Heartland Dental has 9+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure | New roof in 2023
  • Corporate guarantee | Investment grade tenant
  • Tenant Heartland Dental
  • Guarantor Corp T and Rated
  • #Units 1,700
  • Stock NYSE: KKR

Heartland Dental Heartland Dental is the nation's largest dental support organization providing non-clinical, administrative support services. Heartland Dental partners with its supported dentists to deliver high-quality care across the full spectrum of dental services. They are considered to have the nation's largest clinical, operational, and leadership training infrastructure, leading talent acquisition and HR support, state-of-the-art equipment including digital workflows and scanning, best-in-class operations systems & support, and more. Founded in 1997, as of January 2024, the company provides services to over 2,600 dentists in over 1,700 dental offices across 38 states and the District of Columbia. The company became a subsidiary of KKR in 2018. Heartland Dental is headquartered in Effingham, IL.

KKR & Co, Inc. (NYSE: KKR) is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. Kohberg Kravis Roberts (KKR) was founded in 1976 and as of December 31, 2023, their private equity business line had $176.4B of assets under management. The company has an investment-grade S&P credit rating of A and a current market cap of $73.64B. Reported revenue in 2023 was $14.36B. KKR is headquartered in New York City.

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2065 Timothy Road, Athens, GA , 30606
  • Size SF 5,830
  • Built/Renov2022
  • Price/SF$432
  • Lease Start06-03-2022
  • Rent/SF$27.01
  • Lease Type NN+
  • Lot/AC1.32
  • Pop 5MI93,316

2,519,000

  • Cap Rate 6.25%
  • NOI $157,468
  • R. Term/Yrs 7.11
  • Guarantor Corp T + R
  • # Units 1,700
  • Build to suit

  • New roof

  • Near major nationals

  • Shopping Ctr out-parcel

  • Top 100 MSA

  • Affluent suburb location

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

  • ...
  • Heartland Dental has 7+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure | New roof in 2022
  • Corporate guarantee | Investment grade tenant
  • Tenant Heartland Dental
  • Guarantor Corp T and Rated
  • #Units 1,700
  • Stock NYSE: KKR

Heartland Dental Heartland Dental is the nation's largest dental support organization providing non-clinical, administrative support services. Heartland Dental partners with its supported dentists to deliver high-quality care across the full spectrum of dental services. They are considered to have the nation's largest clinical, operational, and leadership training infrastructure, leading talent acquisition and HR support, state-of-the-art equipment including digital workflows and scanning, best-in-class operations systems & support, and more. Founded in 1997, as of January 2024, the company provides services to over 2,600 dentists in over 1,700 dental offices across 38 states and the District of Columbia. The company became a subsidiary of KKR in 2018. Heartland Dental is headquartered in Effingham, IL.

KKR & Co, Inc. (NYSE: KKR) is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. Kohberg Kravis Roberts (KKR) was founded in 1976 and as of December 31, 2023, their private equity business line had $176.4B of assets under management. The company has an investment-grade S&P credit rating of A and a current market cap of $73.64B. Reported revenue in 2023 was $14.36B. KKR is headquartered in New York City.

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1007 Baltimore Street, Hanover, PA , 17331
  • Size SF 5,585
  • Built/Renov2024
  • Price/SF$1,006
  • Lease Start12-01-2024
  • Rent/SF$52.82
  • Lease Type Abs NNN
  • Lot/AC2.07
  • Pop 5MI60,339

5,619,000

  • Cap Rate 5.25%
  • NOI $295,000
  • R. Term/Yrs 20.4
  • Guarantor Corporate
  • # Units 1,032
  • New construction

  • Signalized intersection

  • Near major nationals

  • Shopping Ctr out-parcel

  • Top 100 MSA

  • Affluent suburb location

  • Brand new lease

  • Long 20+ yr lease

  • Accelerated depreciation

  • Corporate Guarantee

  • ...
  • Brand new 2024 construction
  • New 20-year ground lease with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease
  • Tenant Wawa
  • Guarantor Corporate
  • #Units 1,032
  • Stock Private

Wawa, Inc. is an American chain of convenience stores and gas stations located along the East Coast of the United States, operating in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Washington D.C., and Florida. Wawa, a privately held company, began in 1803 as an iron foundry in New Jersey. Today, the chain is an everyday stop for fresh, built-to-order foods, beverages, coffee, fuel services, and surcharge-free ATMs. With over 1000 convenience retail stores (over 750 offering gasoline), most Wawa locations are open 24 hours a day, 365 days a year. Wawa employs over 35,000 associates who own roughly 50% of the company, more than 40% of which is owned through the company’s employee stock-ownership program. Revenue for 2022 was $14.9B, an increase from $13B in 2021. Wawa is headquartered in Wawa, PA.

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860 Richmond Highway, Fredericksburg, VA , 22405
  • Size SF 6,049
  • Built/Renov2023
  • Price/SF$843
  • Lease Start07-01-2023
  • Rent/SF$42.16
  • Lease Type Abs NNN
  • Lot/AC2.95
  • Pop 5MI76,456

5,100,000

  • Cap Rate 5.00%
  • NOI $255,000
  • R. Term/Yrs 18.11
  • Guarantor Corporate
  • # Units 1,032
  • New construction

  • Signalized intersection

  • Strategically located

  • Freeway close

  • Top 100 MSA

  • Affluent AHHI $100K 5 Mi

  • New development zone

  • Long 15+ yr lease

  • Accelerated depreciation

  • Corporate Guarantee

  • ...
  • New 2023 construction
  • Wawa has 18+ years remaining on the current ground lease term with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease
  • Tenant Wawa
  • Guarantor Corporate
  • #Units 1,032
  • Stock Private

Wawa, Inc. is an American chain of convenience stores and gas stations located along the East Coast of the United States, operating in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Washington D.C., and Florida. Wawa, a privately held company, began in 1803 as an iron foundry in New Jersey. Today, the chain is an everyday stop for fresh, built-to-order foods, beverages, coffee, fuel services, and surcharge-free ATMs. With over 1000 convenience retail stores (over 750 offering gasoline), most Wawa locations are open 24 hours a day, 365 days a year. Wawa employs over 35,000 associates who own roughly 50% of the company, more than 40% of which is owned through the company’s employee stock-ownership program. Revenue for 2022 was $14.9B, an increase from $13B in 2021. Wawa is headquartered in Wawa, PA.

...
2136 George Urban Boulevard, Depew, NY , 14043
  • Size SF 6,595
  • Built/Renov1987/2017
  • Price/SF$287
  • Lease Start10-01-1988
  • Rent/SF$17.25
  • Lease Type NN+
  • Lot/AC1.21
  • Pop 5MI253,233

1,895,842

  • Cap Rate 6.00%
  • NOI $113,750
  • R. Term/Yrs 5.2
  • Guarantor Corp T + R
  • # Units 1,700
  • Roof guarantee

  • In location for years

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Accelerated depreciation

  • Favorable NN+ lease

  • Traded and rated company

  • Investment grade tenant

  • ...
  • Firestone has been operating in this location for over 35 years
  • The tenant has 5+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 7.8% rental escalations at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant
  • Tenant Firestone Complete Auto Care
  • Guarantor Corp T and Rated
  • #Units 1,700
  • Moody's/S&P A2/ A
  • Stock OTCMKTS: BRDCY

The Firestone Tire & Rubber Company was founded in 1900 in Akron, Ohio by Harvey S. Firestone. The company started by marketing solid rubber tires for carriage wheels. Firestone began opening retail stores in the mid-1920s, offering basic car service and tire sales. In 2005, the retail operation introduced a new name, Firestone Complete Auto Care, and featured a new layout for its stores to enhance the customer experience. Today, Firestone Complete Auto Care is a leading provider of maintenance, repairs, and tires with a wide variety of services for all makes and models of automobiles and more than 1,700 store locations. Firestone is a wholly-owned subsidiary of Bridgestone Corporation.

Bridgestone Corporation (OTCMKTS: BRDCY), is a Japanese multinational company, and the largest manufacturer of tires in the world. With four retail brands, the company stretches coast-to-coast with 2,200 tire and vehicle service centers across the United States including Firestone Complete Auto Care, Tires Plus, Wheelworks, and Firestone Complete Fleet Care locations. Bridgestone employs over 129,000 people. The company has an investment grade S & P rating of A and a Moody's credit rating of A2. Bridgestone reported a 2023 revenue of $305.83B and has a current market cap of $30.06B. The company is headquartered in Kyubashi, Tokyo, Japan.

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