STRONG LEASE FUNDAMENTALS - 10% rental increases every 5 years of initial term - 8% rental increases every 5 years during options periods - Absolute NNN Ground lease providing no Landlord Responsibilities - Four (4) - Five (5) year option periods INVESTMENT GRADE TENANT - Murphy USA has a Market Cap of over $10.45B - Has over 1,700 locations - Corporate Lease with a strong investment tenant - HIGH GROWTH AND AFFLUENT TRADE AREA - Site is positioned in high growth Hickory, NC - The Murphy Oil is located in between three large North Carolina Cities, Charlotte, Asheville, and Winston-Salem - The town of Hickory, NC has seen rapid growth over the past few years with an average growth rate of 1.22% annually POSITIONED IN A DENSE INDUSTRIAL NODE - Within a 1-mile radius of the Murphy Oil is more than 3.7MSF of industrial Space - Nearby National Industrial Employers Include: Pepsi Bottling Group, Trane Supply, Master Tech Auto Supplies, Performance Food Group, United Beverages (Broke ground on a 67,000 Sqft expansion) - Nearby retailers include: McDonalds, Dunkin’, Starbucks, and more NEARBY ECONOMIC DEVELOPMENT - Located 1-mile from the Appalachian State University - Hickory Campus - More than 500 students attend this location - More than 21K students were enrolled in fall 2024 at all campuses - There are proposed plans between the city of Hickory and Appalachian State University to create an additional 30 acre satellite campus HICKORY, NC DEMOGRAPHIC GROWTH INDICATORS - The city of Hickory, NC is recognized as the economic center of the Catawba River Valley - Hickory has 2 universities driving growth (LenoirRhyne and App State) - Average household income within 5-miles of the site is over $86K and population in the same radius is over 68K