ATTRACTIVE LEASE FUNDAMENTALS - 8% rent increase every 5 years and during option periods - Absolute NNN providing no Landlord Responsibilities - 15 Year Lease with three (3) five-year option periods STRONG CORPORATE GUARANTEE - Corporate Guarantee from Panera, LLC - JAB Holdings acquired Panera, LLC in 2017 for $7.5 billion dollars - There are over 2,200 Panera Bread locations operating across the United States and Canada NEW CONSTRUCTION - The site is set to open in 2026, and the property is the tenant's newest prototype which includes a drive-thru - Site is located in a market where retail vacancy within a mile is below 1% POSITIONED ALONG I-85 CORRIDOR - Positioned on E Main St (SC-290), a primary east-west commercial artery directly connecting Duncan to the I-85 interchange, one of the Southeast's most heavily traveled freight and commuter corridors IMMEDIATE NEARBY MARKET DRIVERS - Sits within 8 miles of Spartanburg, 10 miles of Greer, and 20 miles of Greenville, capturing consumer demand from the entire northern Greenville-Spartanburg MSA HIGH-GROWTH MSA - Spartanburg County is among the fastest-growing counties in SC - Spartanburg County grew ~12% from 2010–2020 - The world's largest BMW manufacturing plant by volume is located in Greer, SC