Extra Mile Sale-Leaseback| Attractive 2024 Construction | 20-yr Abs NNN | Bonus Dep. Eligible | Large 200+ Unit Operator

Description:

STRONG REAL ESTATE FUNDAMENTALS
• Densely populated corridor of Montgomery
• ±41,702 (3-mi) & ±97,662 (5-mi)
• Large parcel size of ±1.25 acres
• Located on the hard corner of a signalized 4-way intersection
• Multiple points of ingress and egress
• Ample fuel canopy for 2-axel vehicles with 4 MPD and 8 fueling lanes + separate 2-lane diesel canopy

NEARBY TRAFFIC & ECONOMIC DRIVERS (ALL ±5 MILES FROM SUBJECT PROPERTY)
•Meta Platform plans to open $800 MM 715,0000 SF AI-optimized data
center that will support 100 operational jobs
•Hyundai Motor Manufacturing Alabama employs nearly 4,000 team members across the $1.8 B facility with total economic impact is ±$4.8 B per year
•Glovis America, Inc. is a 3rd party logistics provider that supports various areas within the supply chain management process in the US, Canada & Mexico

OPTIMAL LEASE STRUCTURE
• Rare 20-year base term
• Four, 5-year renewal options
• Inflation hedge with 1.5% rent escalations every year through the entire lease
• Absolute triple net (NNN) with NO landlord responsibilities
• Tax advantages with accelerated & bonus depreciation due to fee simple ownership

MONTGOMERY, AL ADVANTAGE
• Home to Alabama’s state capital
• Gross Domestic Product of $18.8 M (2022)
• Montgomery made Forbes list as the 8th best metropolitan city to buy a home in 2022
• Major industries include education and defense
• Home to Maxwell Air Force Base and other top employers include Baptist Health, Hyundai Motor Manufacturing Alabama, LLC and ALFA Insurance Companies
• New Meta Data Base

LARGE FRANCHISEE & DOMINANT BRAND
• Expanding 200+ unit operator across 6 states (AL, AR, GA, LA, SC, TN)
• 30+ year operating history
• HQ in Atlanta, GA
• ExtraMile quick facts
• 1,000+ locations across 10 states (CA, WA, ID, OR, UT, NV, AZ, AL, GA & MS)
• Joint-venture between Chevron & Jacksons Food Stores
• Ranked #8 largest gas/c-store chain in US per CSP

Documents: