• The tenant recently signed a brand new 15-year ground lease with 3 (5-year) options to extend • 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation • New construction which will feature high quality materials, distinct design elements, and high-level finishes • Wendy’s and its franchisees employ hundreds of thousands of people across over 7,000 restaurants worldwide with a vision of becoming the world’s most thriving and beloved restaurant brand • The franchisee is an experienced operator who currently operates approximately 80 Wendy’s locations as well as multiple other QSR brands • The franchisee recently sold a 100-unit Dunkin’ portfolio while still retaining his Wendy’s units, proving their commitment to growing the Wendy’s brand