Investment Highlights

LONG-TERM ABSOLUTE NNN CORPORATE GROUND LEASE
» 10-year NNN ground lease with 10% rental increases in initial term and options, providing a hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management, providing an ideal investment opportunity for an out-of-area investor
» Leased to corporate entity with more than 450 units

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Outparcel to future Aldi
» Located at the signalized intersection of South McKenzie Street and East Pride Boulevard, which experiences 44,003 vehicles per day at the intersection
» Across the street from Foley Rivera Square (Walmart Supercenter, Academy Sports, Ross, Publix, Five Below, and PetSmart)
» Walking distance from Tanger Outlets Foley (Under Armour, T.J. Maxx, Kate Spade, Nike, Adidas, American Eagle, and many others) with over 600,000 SF retail

EXCELLENT LOCATION WITH STRONG CUSTOMER BASE
» Across the street from Foley High School, with a total enrollment of 1,851 students, and one Mile from Foley Intermediate School with 483 total students
» 2.3 miles from OWA, a new 520-acre resort with Phase I including a 22-ride amusement park, 150-room Marriott Hotel, and several restaurants, retail shops, and other amenities
» Average five-mile household income of $62,878, which is expected to grow by 13%+ in next five years

DYNAMIC TENANT SERVING A PRACTICAL NEED
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Take 5 is experiencing explosive growth and recently announced franchising plans
» New 2020 construction to tenant’s latest prototype

Property Description

SOLD

Located just eight miles away from the Gulf Coast, the subject property is an outparcel to a future Aldi and is strategically located at the signalized intersection of South McKenzie Street and East Pride Boulevard, which experiences a high traffic count of 44,003 vehicles per day at the intersection. The property is across the street from Foley Riviera Square, a retail center anchored by Walmart Supercenter, Academy Sports, Ross, PetSmart, and Publix. Surrounding QSR/fast casual tenants include KFC, Wendy’s, Starbucks, Applebee’s, Ruby Tuesday, Chick-fil-A, Whataburger, Popeye’s, among many others.

Moreover, the subject property is just 2.3 miles from OWA, a new 520-acre resort with a Phase I including a 22- ride amusement park, 150-room Marriott Hotel, and several restaurants, retail shops, and other amenities. The property is also walking distance from Tanger Outlets Foley, a 600,000+ SF outlet mall featuring tenants such as Under Armour, T.J. Maxx, Kate Spade, Nike, Adidas, American Eagle, and many others, making it the number one retail attraction visited along the Alabama coast each year. Across the street from the property is Foley High School, which has a total enrollment of 1,851 students. The site is also one mile from Foley Intermediate School with 483 total students. The property is located in an affluent area of the region as well, with a five-mile household income of $62,878, which is expected to grow by 13%+ in next five years.