ATTRACTIVE LEASE FUNDAMENTALS

• New 15 year Abs. NNN
• 10% rent increases every 5 years
• No Landlord Responsibilities

NAME BRAND TENANT

• Popeyes is the second largest “quick-service chicken restaurant group”
• Over 4,100+ locations in 40 states and 30 countries world wide
• In Q3 of 2023, Popeyes had 16.1% Sales Growth compared to Q3 in 2022

HIGHLY VISIBLE ON A RETAIL CORRIDOR

• Fronting W. 3rd St (15.5k VPD)
• Over 325KSF of retail space located in a 1-mile radius boasting a 0% vacancy rate
• Over 3.7K SF of retail space has been absorbed over the past 12 months
• Nearby national tenants include: Jersey Mikes, Circle K, Cook Out, McDonalds, and Burger King

CLOSE PROXIMITY TO HIGH GROWTH UNC PEMBROKE

• Less than a half-mile to UNC Pembroke
• Over 7,500 students and 420+ faculty
• 8 different colleges & schools
• Since adopting the NC Promise Tuition Plan in 2016, enrollment has grown 32%

NEW CONSTRUCTION

• Popeye’s is constructing the new building to their newest prototype