Investment Highlights

NEW 10-YEAR NET CORPORATE LEASE TO THE LARGEST COFFEEHOUSE COMPANY IN THE WORLD
» New 10-year corporate net lease to Starbucks Corporation (NASDAQ: “SBUX”)
» Investment-grade tenant, rated “BBB+” by Standard & Poor’s
» » 8% rental increases every five (5) years
Starbucks is the world’s premier coffee company, with over 35,711 locations and $32.3 billion in annual revenue (an 11% increase from 2021 revenue of $29.1 billion)
» Per Statista, customers go to Starbucks six times per week on average
» Approximately 60 million Starbucks customers are served every week, while approximately four million coffee-based beverages are sold daily
» Low NOI relative to the average NOI of on-market Starbucks ($140,409)

ONLY STARBUCKS IN CROCKETT LOCATED AT A HARD SIGNALIZED INTERSECTION
» Strategically located at a hard signalized intersection along State Highway Loop 304 and close to State Highway 7/East Goliad Avenue and State Highway 21 / East Houston Avenue (combined 22,616 AADT)
» Well-positioned directly across the street from a Walmart Supercenter and situated near national tenants including H-E-B & H-E-B Fuel, Sonic, Dollar Tree, AT&T, Pizza Hut, Subway, Dollar General, O’Reilly Auto Parts, and more
» Beneficial proximity to Crockett Medical Center (80 employees; 25 beds) and Quest Collegiate Academy (145 students)

NO COMPETING STARBUCKS IN GROWING TEXAS CITY
» This location is the only Starbucks within a 45-mile radius
» Affluent area supported by an average annual household income of $80,469 within 1 mile of this Starbucks
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years by more than 13%, poising this Starbucks and Crockett for steady concurrent growth

NEW 2023 CONSTRUCTION IN A TAX-FREE STATE
» New high-quality 2023 construction built to latest Starbucks prototype
» Site features a dual-lane drive-thru and ample parking for added customer convenience
» Texas has no state income tax, estate tax, or inheritance tax

Property Description

» High-Visibility Location: Located at a signalized intersection and on the main retail corridor along State Highway Loop 304 with access to 12,848 vehicles passing directly in front of the site
» Excellent Location in Growing Retail Corridor: Well-positioned directly across from Walmart Supercenter and near national tenants such as Whataburger, McDonald’s, HEB, O’Reilly Auto Parts, Taco Bell and more
» Ideal Nearby Customer Base: Beneficial proximity to Crockett Medical Center (a 25-bed critical access hospital) as well as local workforce and students, which will drive consistent customer traffic to this new Starbucks
» Exclusive Starbucks Location: This property is the only location in the city, serving commuters along Loop 304, with the next closest location 45 miles away
» Poised to Serve Growing Suburb: Projected income increases of more than 11% within 1-, 3-, and 5-mile radii by 2028