Investment Overview

The subject property is an absolute NNN corporate ground lease with Jack in the Box (NASDAQ: JACK) in San Luis, Arizona. The ±3,998-square-foot restaurant sits on ±1.3 acres with a drive-thru and ample parking. In 2022, the tenant expanded the parking lot and renovated the building to its current prototype. The lease has approximately two (2) years remaining, followed by three (3) five-year options. Each option includes CPI-based rental increases capped at 10%. The property is located next to the San Luis Port of Entry, the busiest Arizona-Mexico border crossing by pedestrian volume, with more than 8 million annual crossings.