Investment Overview

NEW 20-YEAR CORPORATE GROUND LEASE – The Tenant, Wawa Inc., is subject to a new 20-year NNN ground lease that commenced in October 2025. The lease features 10 percent (10%) rental increases every five years during the base term and in each option period, providing revenue growth and a hedge against inflation. Wawa will operate 24-hours per day, 7-days per week in a 5,995-square-foot store with eight multi-product dispensers (MPDs). The Tenant boasts an investment grade shadow rating of “BBB+” by Fitch. PART OF CENTRAL PA EXPANSION – This location is the chain’s 10th store in Central Pennsylvania as part of a broader plan to expand its footprint along the Susquehanna River corridor. The company targets 12 stores to open by year-end in counties such as Cumberland, Dauphin, Franklin, Lycoming, Northumberland, Union, and York. Over the next five years, Wawa anticipates opening 40 new stores in the region, approximately 5-7 new stores each year.