Investment Highlights

100% LEASED TWO-TENANT NET LEASE ASSET WITH SCHEDULED RENTAL INCREASES
» New 2022 construction that is 100% leased to two “Amazon-proof” tenants – Aspen Dental and Huey’s
» 10-year net lease to Aspen Dental and 15-year net lease to Huey’s
» Aspen Dental is one of the largest dental brands in the U.S. with over 1,010 locations across the nation and plans for another 75-100 openings in 2023
» Huey’s is a well-established and experienced operator based locally in Memphis.
» All 10 locations are in the Memphis MSA
» Huey’s has never closed a restaurant since it was founded in 1970

PREMIER RETAIL LOCATION SURROUNDED BY MAJOR RETAILERS AND EMPLOYERS (INCLUDING AMAZON)
» High-visibility location at the signalized intersection of State Highway 302/ Goodman Road (37,000 AADT) and Craft-Goodman Road
» Beneficial proximity to U.S. Highway 78 (33,000 AADT)
» Surrounded by notable tenants such as Walmart Supercenter, Kroger, Lowe’s Home Improvement, The Home Depot, CVS, Walgreens, Petco, McDonald’s, Chick-fil-A, Starbucks, and many others
» Proximity to several large apartment complexes, including The Vineyard of Olive Branch Apartment Homes (456 units), Goodman Manor Apartments (55 units), and Crestview Apartments (38 units)
» 13.7 miles from the University of Memphis (21,917 student enrollment)
» Less than five miles from Legacy Park, home to a one million square foot Amazon fulfillment center, FedEx supply chain center, and many other large industrial tenants
» 10 minutes from a recently opened one-million-square-foot Walmart fulfillment center

AFFLUENT AND DENSE DEMOGRAPHICS WITHIN MEMPHIS MSA
» Olive Branch is the fastest growing city in Mississippi and has the best public schools in Mississippi
» Olive Branch was the fastest growing city in the U.S. and continues to grow rapidly
» Situated within the DeSoto County School District (3,872 employees, 30,000+ students), the largest school district in the state of Mississippi
» 94,366 residents within a five-mile radius – 15% population increase from 2010 to 2020
» Average annual household income of $102,749 within one mile (projected to increase 15 percent by 2027)
» Olive Branch is in the top 15 best places in the U.S. to live near a large city in 2022 across three categories: jobs affordability, and livability
» Property taxes in Desoto County are much lower than surrounding counties. This is one of the reasons Olive Branch has experienced such explosive growth
» Gateway to Memphis, the second-most-populous city in Tennessee (633,104 residents)

Property Description

SOLD

» Aspen Dental and Huey’s is located at the signalized intersection of State Highway 302/Goodman Road (37,000 AADT) and Craft-Goodman Road and maintains beneficial proximity to U.S. Highway 78 (33,000 AADT)
» Goodman Road is recognized as one of the four major commercial arteries within the Memphis, TN MSA and is the primary commercial artery in Desoto County, north Mississippi
» The site is near multiple major hotel brands with over 759 guestrooms and is close to several large apartment complexes, including The Vineyard of Olive Branch Apartment Homes (456 units), Goodman Manor Apartments (55 units), and Crestview Apartments (38 units)
» The property is 13.7 miles from the University of Memphis (21,917 student enrollment) and situated within the DeSoto County School District (3872 employees, more than 30,000 students), the largest school district in the state of Mississippi
» The site is less than five miles from Legacy Park, home to a one-million-square-foot Amazon fulfillment center, FedEx Supply Chain Center, and many others, and just ten minutes from a recently opened one million SF Walmart fulfillment center
» The location is a gateway to Memphis, the second-most-populous city in Tennessee (633,104 residents), and is part of the Memphis MSA (1.33 million residents), the commercial and cultural hub of the Mid-South