Whataburger | Affluent North Atlanta Suburb

Investment Highlights

NEW 15-YEAR CORPORATE WHATABURGER GROUND LEASE WITH 16.79% RENT INCREASE IN YEAR 6
• New construction 3,318 SF Whataburger with a double drive thru located in Buford (Atlanta, GA). The store is scheduled to open in September 2024.
• 15-Year corporate guaranteed ground lease with a 16.79% rent increase in Year 6. The rent increases 7.81% in Year 11 and 8.00% in each of the three, 5 year option periods.
• Absolute NNN Ground Lease — the tenant is responsible for all taxes, insurance, CAM, roof, and structure.

POSITIONED AT THE ENTRANCE TO A 1.1 MILLION SF AMAZON LOGISTICS CENTER
• The subject property is located at the signalized entrance to a 1.1 million square foot Amazon logistics center within a pocket of 10 million square feet of industrial, manufacturing plants, and distribution centers.
• Amazon opened this facility in 2020 and has two buildings situated on 112-acres which include a campus delivery & fulfillment center.
• This Amazon logistics center currently employs more than 1,500 people.
• Additional new developments at the entrance to this Amazon center include Arby’s, Chipotle, Panda Express, & Take 5.
• There are 20 additional industrial and distribution centers within a 3 mile radius of this Whataburger including FedEx, Office Depot, Best Buy, Sherwin Williams and more.
• The largest job industry in Buford is manufacturing and distribution which experienced a 7% increase in employment over the last 12 months.

INTERSTATE LOCATION (73,200 VPD) ADJACENT TO A PUBLIX ANCHORED SHOPPING CENTER
• The subject property is located on Highway 347 (32,500 VPD) adjacent to a top-performing Publix Anchored Shopping Center and less than 1 mile from Interstate 985 (73,200 VPD).
• This Publix ranks in the top 80% among all Publix locations in the country by supporting over 758,100 customers per year (Placer.ai)
• The subject property is located only 2 miles from Lake Lanier which attracts 10 million visitors per year and has a $5 billion economic impact.

AFFLUENT NORTH ATLANTA SUBURB WITH 30% GROWTH
• Buford is one of the fastest growing and affluent north Atlanta suburbs that is located about 40 miles northeast of downtown.
• The 5-mile population from the subject property is 95,068 with nearly 30% growth. The 5-mile average household income is $112,524.
• Buford is located in Gwinnett County which is the fastest growing county in the state with over 1 million residents.
• Atlanta is the hub and economic engine of the Southeast, which is the fastest-growing region in the U.S.
• Atlanta is home to multiple Fortune 500 companies including the Coca-Cola Company, Home Depot, Delta Air Lines, and more.
• Atlanta is also home to the busiest airport in the world, Hartsfield-Jackson Atlanta International Airport, which handles more than 100 million passengers per year.

WHATABURGER | 945 LOCATIONS ACROSS 16 STATES
• #1 highest average sales per store of all burger fast food restaurants at $3.46M per store.
• Whataburger was founded in 1950 and is headquartered in San Antonio, TX.
• 945 locations across 16 states, has over 50,000 employees, and does over $3 Billion in System-wide sales annually.
• In 2019, private equity firm BDT Capital Partners, best known for taking ownership of Krispy Kreme and Panera Bread, acquired a majority interest in Whataburger. Since then, Whataburger has worked to grow its franchised locations into new markets more aggressively, as well as re-design its outlets.
• In 2021, Newsweek ranked Whataburger #2 for “Fast-Food Restaurant Chains” in its annual “America’s Best Customer Service” List.