The Offering presents the opportunity to acquire a brand-new Chick-fil-A ground lease located in the Murphy’s Corner neighborhood between Mill Creek and Everett, Washington. The Property is currently under construction with anticipated grand opening of April 2026 on a brand-new 15-year ground lease expiring April 30, 2041, and is positioned along Bothell Everett Highway (SR-527) and 132nd St SE, two of the primary commercial corridors serving South Everett and Mill Creek. Murphy’s Corner continues to emerge as a meaningful suburban retail node driven by surrounding residential growth, commuter traffic, and limited retail vacancy. Chick-fil-A recently announced a broader Washington expansion initiative with nine new restaurants planned across the state by early 2027, reinforcing the brand’s commitment to the market.