• The tenant recently signed a brand new 15-year lease with 7 (5-year) option periods to extend, demonstrating their commitment to the site • The lease features a 10% rental increase in year 11 followed by 10% increases at the beginning of each option thereafter • The lease is signed by the corporate entity - Sheetz, Inc. • Founded in 1952, Sheetz is among America’s fastest-growing, family-owned and operated convenience store chains with over 740 locations • Tenant pays for CAM, taxes, insurance, and maintains all aspects of the premises • No landlord responsibilities • Ideal, management-free investment for a passive investor • The property is ideally situated within a dense retail trade area • Sheetz is near several major shopping centers including University Place (434K+ SF), Patterson Place (592K+ SF), New Hope Commons (465K+ SF), and others • The surrounding tenants include Chick-fil-A, ALDI, Trader Joe’s, Lowe’s, Food Lion, Whole Foods, Home Depot, Walmart Supercenter, and others • The strong tenant presence drives a steady stream of loyal, local consumers, promoting crossover exposure and contributing to the economy • The area is experiencing significant growth with developments including: - Wood Townhomes (119-unit multi-family, proposed) - Homestead Gardens (130-unit multi-family, proposed) - 11SixtyFive (48K SF medical office, proposed) - Aura Booth Park (12K retail strip, under construction) - University Place Hotel (150 rooms, proposed), and more • The property is near Chapel Hill High School, East Chapel Hill High School, and University of North Carolina at Chapel Hill, making this a convenient option for students, faculty, and staff • The property is located along M.L.K Jr. Boulevard with clear visibility and access to an average of 27,500 vehicles passing daily • The property also benefits from nearby access to U.S. Highway 15 (54,000 VPD) and Interstate 40 (88,000 VPD), allowing for easy access • The asset, which is slated to open in Q3 2025, will feature a state-of-the-art design using the highest-quality materials available • The asset has excellent visibility and multiple points of ingress/egress • The property is near numerous single-family communities and multi-family complexes, providing a direct residential consumer base • The surrounding multi-family complexes include Timber Hollow (198 units), Chapel View (224 units), Shadowood (336 units), and others • More than 111,700 residents and 71,300 employees support the trade area • Residents within 1-, 3-, and 5-miles boast an affluent average household income of $158,945, $139,625, and $139,865, respectively