ATTRACTIVE LEASE FUNDAMENTALS

• 15 Year Abs. NNN Lease with zero landlord responsibilities
• Four (4) five (5) year options remaining
• 10% Increases every 5 years in base rent and extension periods

LOCATED IN LOW VACANCY RETAIL NODE

• 885K sqft of retail space in a 1-mile radius boasting a 1.1% vacancy rate
• Over 14K SF of absorption YoY
• Nearby retail tenants include: Walmart supercenter, Lowe’s Home Improvement, Food Lion, Walgreens, Dunkin Donuts

CORPORATE GUARANTY FROM INVESTMENT GRADE TENANT

• Chipotle has a Market Cap of $82B (NYSE: CMG) with over 3,200+ locations across the country
• Chipotle opened 121 new restaurants in 2023 with 110 of those locations utilizing a Chipotlane

HIGH GROWTH AND AFFLUENT TRADE AREA

• 3.7% annual population growth in a 1-mile radius (2020 to 2024) with a forecasted 4.3% for the next 5 years
• AHHI exceeds $96K in a 1 mile radius providing a high discretionary spending

NEW CONSTRUCTION WITH GREAT VISIBILITY AND ACCESSIBILITY

• New construction build-to-suit Chipotle with a drive-through “Chipotlane”
• Multiple points of egress and ingress
• Located on a hard corner lighted intersection providing frontage on both Technology Dr & NC-42 (~32K VPD)
• Approximately a quarter mile to I-40 (67,500 VPD)

RALEIGH MSA TAILWINDS

• Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
• Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
• Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)