Investment Overview

The subject property is a Jack in the Box restaurant situated at a freeway off/on ramp to Interstate 37 in Corpus Christi, Texas. Newly constructed in 2008, Jack in the Box, Inc. executed a 20 year corporate lease on commencing June 16, 2008, that calls for CPI rent increases every 5 years not to exceed eight (8.0%) percent. The +/-2,477 sq. ft. restaurant is equipped with a drive thru window and is situated on +/-1.05 acres of land. There is street access from both McKinzie Road and Up River Road. Located at this same freeway off/on ramp is a Mobil Gas Station, La Quinta Hotel (60 rooms) and a recently constructed Best Western Plus Executive Residency Hotel (82 rooms). The existing Jack in the Box lease is absolute NNN, requiring no landlord responsibilities. The lease expires June 30, 2028 with four-5 year options remaining at same terms and conditions. The city of Corpus Christi, a coastal city in the South Texas region located just 130 miles southwest of San Antonio. Corpus Christi has a reported city population exceeding 316,000. Average Household Income within a 3-mile radius to the subject property is reported at $82,510 and city population of 23,041 within this same radius. Corpus Christi International Airport is just 9 miles from the subject property. Jack in the Box, (NASDAQ:JACK) was founded in 1951, and operates and franchises over 2,200 Jack in the Box quick service restaurants in the United States, of which 584 locations are in Texas. Jack in the Box also owns Del Taco restaurant chain that they acquired in March, 2022 which consists of 600 locations.