STRONG LEASE FUNDAMENTALS

• Fifteen year initial term
• 10% rent increase every 5 years and during options periods
• Absolute NNN Ground lease with no early termination clause
• Three (3) - Five (5) year option periods

CORPORATE LEASE W/ A GROWING BRAND

• Lease signed with Jim ‘N Nicks corporate
• 50 total locations, with plans to open 30 more in the next 3 years

GREAT VISBILITY IN MAJOR COMMERCIAL CORRIDOR

• Over 390 linear feet of road frontage on N. Davis Hwy (42.5K VPD)
• Over 2.2MSF of retail space located in a 1-mile radius
• Outparcel to the University Town Plaza boasting 566k sqft
• Anchor tenants include: Academy Sports + Outdoors and JCPenney

NEARBY ECONOMIC DRIVERS

• Site is less than 3 miles to Baptist Health Care Center which employs over 6,500
• The facility is a $650 Million dollar complex that includes a 10-story 268 bed hospital
• Approximately 3.5 miles to Pensacola International Airport

NEW CONSTRUCTION

• Newly built Jim ‘N Nicks with double drive-through
• Jim ‘N Nick’s allocated nearly $3 million of their own funds towards upgrades and FF&E
• Oversized 1.8 acre parcel providing a great parking ratio and providing future redevelopment upside

MAJOR VACATION MARKET

• In 2023 Pensacola had over 2.5 Million visitors with an economic impact of over $2 Billion
• Direct tourism spending exceeded $1.317B in 2023
• The city is ranked in the top 100 cities for cost of doing business per (Forbes.com)