PROPERTY HIGHLIGHTS • Brand-new built-to-suit construction asset with Dutch Bros’ latest prototype • Corporately guaranteed, absolute NNN lease | Zero Landlord responsibilities • Long-term, passive investment | 15-year initial term with 10% rent increase every 5 years throughout the initial term and options, providing an excellent hedge against inflation • Excellent access and visibility from Franklin Rd which sees ±30,425 VPD • Located a couple blocks from Market at Victory Village, a Publix-anchored shopping center • Dense and affluent area | There are nearly 29,000 residents with an average HH income exceeding $101,300 within a 5-minute drive • Rapidly growing area | Population has grown 17.5% since 2020 within a 10-minute drive and is expected to grow 2.38% annually over the next 5 years • About 1.5 miles from: • Blackman High School | ±2,200 students • I-24 | Nearly 116,000 VPD • Stonetrace Commons | Kroger and Kohl’s-anchored shopping center • A Sam’s Club-anchored shopping center • A Kroger-anchored shopping center • Just over 2 miles from an incredible retail corridor that includes: • The Avenue Murfreesboro | 853,000 SF open-air shopping center anchored by DICK’S, Belk, Burlington, Best Buy, and Harvertys Furniture • Towne Center | A Target, Lowe’s, and T.J. Maxx-anchored shopping center • Stones River Town Centre | 671,000 SF mall anchored by JCPenney, Dillard’s, and AMC • Market Place Center | Home Depot-anchored shopping center • A Walmart Supercenter-anchored shopping center • The Oaks Shopping Mall | 380,000 SF shopping mall anchored by Sportsman’s Warehouse, Ashley Store, HomeGoods, Ross, and Marshalls • Ascension St Thomas Rutherford | 286-bed private hospital • Murfreesboro was the 16th fastest-growing city in the U.S. in 2023, according to SmartAsset • Asset is located in an income tax-free state DUTCH BROS HIGHLIGHTS • Dutch Bros is the third largest coffee chain in the US with 900+ units across 17 states with a long-term goal of hitting 4,000+ stores in the next 10-15 years • In Q3 2024, total revenues grew 28% y-o-y to a record $338MM • Expects to open at least 150-165 locations in 2024 • Has opened at least 30 stores in 13 consecutive quarters • Dutch Bros holds an AUV of $2MM (2023) • Dutch Bros (NYSE: BROS) went public in 2021 and holds a market cap of $8B as of 11/20/24 • Held the highest AUV in the QSR Magazine’s “snack segment” at just under $2MM in 2023, beating out the likes of Starbucks, Dunkin’, 7 Brew Coffee, among others • 3rd most popular restaurant chain in the U.S. in 2024, according to Nation’s Restaurant News • #33 on QSR Magazine’s QSR Top 50 rankings • #48 on Technomic’s 2024 Top 500 Chain Restaurant Report