TWO-TENANT NET LEASED ASSET

This two-tenant, net-leased asset features both tenants operating under NNN ground leases, offering a true zero-management investment. The structure provides an exceptional opportunity for passive investors seeking stable, long-term income with virtually no operational oversight.

INVESTMENT GRADE TENANT

Fifth Third Bancorp (NASDAQ: FITB) is a diversified financial services company headquartered in Cincinnati, OH. The bank operates ±1,089 branches and ±2,080 ATMs across 11 states. Fifth Third Bank has an S&P rating of A- and reported revenue of $8.503B for 2024. The company recently announced they will be acquiring Comerica, strengthening its presence in the Southeast, Texas and California.

RAPIDLY GROWING BRAND

Dutch Bros Coffee (NYSE: BROS) is a nationally recognized, fast-growing drive-thru coffee brand with a strong and expanding U.S. footprint. As of 2025, the company operates over 1,000 locations nationwide and employs approximately 24,000 people. Dutch Bros reported $1.28 billion in revenue for 2024, marking an impressive 32.6% year-over-year growth—a clear indication of its accelerating momentum and broad consumer appeal.

OUTPARCEL TO PREMIER 750K SF MIXED-USE DEVELOPMENT

The property boasts a highly visible and strategic location as an outparcel to Park West Village—a premier, 100-acre mixed-use development in the heart of Morrisville. Spanning 750,000 SF, Park West Village is a dynamic lifestyle destination that seamlessly blends retail, dining, entertainment, residential, and office components into a walkable, community-focused environment. Anchored by a curated lineup of top national retailers, including Trader Joe’s, Target, Nordstrom Rack, HomeGoods, and Ross Dress for Less, the center attracts consistent foot traffic from both local residents and the broader Cary-Raleigh-Durham market, making it one of the most sought-after commercial nodes in the region.

EXCEPTIONAL MARKET DEMOGRAPHICS

Located in one of the most affluent and strategically positioned markets in the U.S., this asset is supported by outstanding demographics, including a population of 187,355, an AHHI exceeding $171,000, and over 9,400 businesses within a 5-mile radius. These demographics drive strong consumer demand and long-term stability, reinforcing the property’s value and income potential.

STEADY INCOME GROWTH

Both leases include 10% rent escalations every five (5) years, including at the commencement of each of the four (4) five-year renewal options. This structured rent growth provides built-in income appreciation, offering investors a reliable and increasing cash flow stream over the long term.

FIRST DUTCH BROS IN NORTH CAROLINA

This project marks Dutch Bros’ highly anticipated debut in North Carolina, introducing the brand’s first location in the state. The site will feature Dutch Bros’ signature 950-square-foot prototype building, thoughtfully designed with dual drive-thru lanes to optimize traffic flow and operational efficiency. Dutch Bros boasts an impressive average unit volume (AUV) of approximately $2M. As the brand continues its national expansion, this location represents a strategic step into the Southeast market, delivering fast, high-quality service in a compact and streamlined format.

TRAFFIC COUNTS (ADT)

Morrisville Parkway - 16,705

Chapel Hill Road - 24,139

NW Cary Parkway - 32,605