STRONG LEASE FUNDAMENTALS - Fifteen year initial term - 10% rent increase every 5 years and during options periods - Absolute NNN Ground lease with no early termination clause - Three (3) - Five (5) year option periods CORPORATE LEASE W/ A GROWING BRAND - Lease signed with Jim ‘N Nicks corporate - 50 total locations, with plans to open 30 more in the next 3 years GREAT VISBILITY IN MAJOR COMMERCIAL CORRIDOR - Over 390 linear feet of road frontage on N. Davis Hwy (42.5K VPD) - Over 2.2MSF of retail space located in a 1-mile radius - Outparcel to the University Town Plaza boasting 566k sqft - Anchor tenants include: Academy Sports + Outdoors and JCPenney NEARBY ECONOMIC DRIVERS - Site is less than 3 miles to Baptist Health Care Center which employs over 6,500 - The facility is a $650 Million dollar complex that includes a 10-story 268 bed hospital - Approximately 3.5 miles to Pensacola International Airport NEW CONSTRUCTION - Newly built Jim ‘N Nicks with double drive-through - Jim ‘N Nick’s allocated nearly $3 million of their own funds towards upgrades and FF&E - Oversized 1.8 acre parcel providing a great parking ratio and providing future redevelopment upside MAJOR VACATION MARKET - In 2023 Pensacola had over 2.5 Million visitors with an economic impact of over $2 Billion - Direct tourism spending exceeded $1.317B in 2023 - The city is ranked in the top 100 cities for cost of doing business per (Forbes.com)