About the Investment

• NEW 2023 Prototype Reconstruction | Long Term Tenancy | Jack in the Box has been operating at this location for more than 20 years. As a clear demonstration of commitment to this site, the tenant did a full scrape and rebuild, updating the new building to the tenant's prototype model.
• Favorable, Lucrative Lease Structure | Long-term, absolute NNN lease with oversized rental increases every five years of the greater of 15% or the change in CPI over the previous period.
• Percentage Rent | Increased NOI Potential | Throughout the term of the lease, the Tenant must pay to landlord 9.50% of Gross Sales for each month, less the amount paid by tenant in rent. As sales continue to climb, there is a very strong near term potential to get increased rental income, above the base rent amount, meaningfully increasing Net Operating Income.
• Jack in the Box Purchases Del Taco - Combined Unit Count of 2,800 | Jack in the Box purchased Del Taco, the second-largest Mexican fast food chain in the United States. Del Taco has a footprint of roughly 600 restaurants across 16 states, and the combined company now has more than 2,800 locations across 25 states.
• Successful Restaurant Brand | Jack in the Box has approximately 2,200 restaurants and generates over a billion dollars in annual revenue. Jack in the Box, Inc is the fifth-largest burger brand in the QSR segment and has since 90 development agreements since 2021 for a total of 389 restaurant commitments