Investment Highlights

NEW 20-YEAR CORPORATE GROUND LEASE WITH RARE 10-YEAR OPTION PERIODS
» New 20-year absolute NNN lease with no landlord management to growing retail tenant
» Guaranteed by EG America, one of the fastest growing convenience store retailers in the U.S. with more than 6,000 sites across the United States, Europe, and Australia
» Relocating from across the street, exemplifying the tenant’s dedication to this location
» 10% rental increases every five (5) years in initial term and rare 2% annual rental increases in option periods

PRIME RETAIL LOCATION WITH STRONG DEMOGRAPHICS IN GROWING AREA
» Prominent signalized hard corner location at the northwest corner of U.S. Route 87 and East Bay Boulevard (34,500 AADT)
» Two miles from U.S. Route 98, one of the most traveled arterials in Northwest Florida (46,000 AADT)
» Prime retail location on the Gulf Coast/Emerald Coast (4.5 million annual visitors), two miles from pristine white sand beaches, shopping, and restaurants on the Gulf of Mexico
» Located near the Easy Bay River, a 15-mile-long river with a public boat launch a mile away of the site
» Population of 43,940 within a five-mile radius with a 28 percent increase since 2010, poising Tom Thumb and Navarre for steady concurrent growth
» Average annual household income of $89,996 within five miles and projected to increase 13 percent by 2026

STRATEGIC LOCATION NEAR MAJOR FLORIDA COMMUNITY HUBS AND ECONOMIC DRIVERS
» Near several large schools, including Navarre High School (2,367 students) and Holley-Navarre Middle School (1,053 students)
» 3.5 miles from Baptist Hospital-Baptist Medical Park (326 beds, 6,500 employees)
» Navarre Beach ranked in a top-5 beach in all of Florida by USA Today
» Situated near area attractions including Gulf Breeze Zoo (200,000 annual visitors) and Gulf Islands National Seashore (20 miles, 5.6 million annual visitors)
» 1,500 single family homes zoned for development in the immediate area

ESTIMATED 2022 CONSTRUCTION IN AN INCOME TAX FREE STATE
» Estimated 2022 construction featuring convenience store, double drive-thru, and five covered gas pumps for added customer convenience
» Excellent submarket location in income tax free state poised for growth on the Florida Panhandle
» Close proximity to several military bases in the region including Eglin Air Force Base (the largest United States Air Force base, with a total economic impact of $7.8B)
» Texas is an income tax free state

Property Description

SOLD

This Tom Thumb relocation site features a prominent signalized hard corner location at the northwest corner of U.S. Route 87 and East Bay Boulevard (34,500 AADT), directly across from its previous location. Additionally, the property is two miles from U.S. Route 98, one of the most traveled arterials in Northwest Florida. The site is in a prime retail location on the Gulf Coast/Emerald Coast (4.5 million annual visitors), less than a mile from pristine white sand beaches, shopping, and restaurants on the Gulf of Mexico. The site is located near East Bay River, a 15-mile-long river with a public boat launch just a mile from the site. 43,940 residents living within a five-mile radius, with a 28 percent increase since 2010, providing a regular customer base. The average annual household income is $89,996 within five miles and is projected to increase 13 percent by 2026.

The site is near several large schools, including Navarre High School (2,367 students) and Holley-Navarre Middle School (1,053 students), increasing traffic in the immediate area. The location is set in a highly sought after region of Florida, as Navarre Beach ranked in the top five beaches in all of Florida by USA Today. The site is situated near area attractions such as Gulf Breeze Zoo (200,000 annual visitors) and Gulf Islands National Seashore (20 miles, 5.6 million annual visitors). The location maintains beneficial proximity to Destin-Fort Walton Beach Airport (1.9 million annual passengers in 2021) and Pensacola International Airport (1.4 million annual passengers in 2020). Eglin Air Force Base (the largest United States Air Force base, with a population of 2,152) and other naval and aviation-related installations are in close proximity, creating one of the nation’s largest military base footprints in the area.