Investment Overview

* Absolute NNN Corporately Guaranteed Krispy Kreme Ground Lease located in Utica, MI, located less than 30 miles north of Detroit * Original 20-year term with nearly 14 years remaining- 8.0% rental increases every 5 years with the next increase coming February 1, 2029 * Krispy Kreme, Inc. (NASDAQ: DNUT) currently has over 2,000 locations in over 40 countries and reported an annual revenue of 1.66 billion in 2024 * Conservative Rent of only $25.56/SF * Outparcel to a Target/Planet Fitness/Dollar Tree anchored center over 1.4M visitors at Target and 3.5M for the entire center * Incredibly high traffic corridor- over 131,000 cars per day reported between Hall Road and Schoenherr Road * Located less than a half-mile from the new Lakeside City Center (former Lakeside Mall)- Lakeside City Center will start development in Fall 2025 and will consist of 561K SF of anchor tenant retail, 162K SF of new retail, 2,539 multi-family units, 20K SF community center, 100 hotel rooms, 400-units of senior living, and 350 units of active adult living * Dense retail corridor- major retailers in the immediate area consists of Utica Park Place (Sam’s Club, Best Buy, At Home), Home Depot, Dick’s, Hobby Lobby, PetSmart, Costco, Meijer, Lowe’s, HomeGoods, Michael’s, and Nottingham Square (Kroger, CVS) * Densely populated area- nearly 10,000 residents within a 1-mile radius and over 250,000 within 5 miles- average household income is over $109,000 in the 5-mile radius * Detroit, home to the Big Three and numerous auto suppliers as well as many of the world’s automotive research and development firms, currently has over 4.3 million residents within its MSA * The 3,856 SF state of the art building includes a double drive-thru and outdoor seating area