Investment Overview

NEW 20-YEAR NNN GROUND LEASE The Tenant, Wawa Inc., is subject to a new 20-year NNN ground lease opening November 2026. The lease features 10 percent rental increases every five years during the base term and six, five-year renewal options providing attractive revenue growth. Wawa will operate in a newly constructed 5,915-square-foot convenience store with 8 fueling pumps. AT THE ENTRANCE TO ALDI’S DIVISIONAL HQ AND PLANNED COMMERCIAL PADS The Property is positioned at the entrance to ALDI's 562,500-square-foot distribution center and divisional headquarters along Aldi Way. The $57 million investment on ~80 acres opened in 2018 and serves 70 to 80 ALDI stores across the Richmond-Petersburg, Hampton Roads, and eastern North Carolina markets. ALDI selected the site for its labor pool and transportation access, and the operation employs hundreds of workers and truckers, who pass the subject property each day. Additionally, Wawa will operate adjacent to other yet-to-be developed retail users, two 80-room hotels, and a proposed 144-unit apartment community. There are 5 potential pads available, presumed to include medical office, bank, drive-thru and general retail uses. 1.97 ACRE SIGNALED CORNER PARCEL WITH I-85 ACCESSIBILITY A 1.97-acre corner parcel along Route 1/Boydton Plank Road corridor, one of the primary commercial and commuter routes serving southern Petersburg and Dinwiddie County. It has direct connectivity to I-85 (45,000 VPD) via Exit 63A just one traffic light away. I-85 is the primary connection between Greater Richmond and the Research Triangle, Charlotte, and Atlanta. Accessibility to I-85 and nearby I-95 (113,000 VPD) is what attracted ALDI, Amazon, Walmart, CJ Logistics, and the surrounding distribution density to this corridor, and was a consideration in Wawa’s selection of this site. The subject location is also 1.3 miles from Dinwiddie County Airport, providing private, charter, and corporate flights totaling 30,000 flight operations each year. A PROVEN FUEL CORRIDOR The nearest national competitor, Sheetz, sits west of the interstate on the less favored side of the corridor. The only other fuel offering in the immediate trade area is an older Shell/Jiffy Mart. The existing competitors perform exceptionally well, validating the corridor's demand. Per Placer.ai, Sheetz averages 1.1 million annual customer visits, ranking in the 80th percentile chainwide, and the best of 19 locations within a 30-mile radius. The neighboring Shell/Jiffy Mart draws 301.3 thousand annual visits, ranking in the 89th percentile for small form gas stations nationwide, the 93rd percentile statewide, and 2nd best of 48 stores within 30 miles. The robust performance for a small-format gas station and c-store speaks to the strength of this location in the market. Wawa will have a built-in customer base and an opportunity to capture a significant share from both operators. BEST-IN-CLASS RETAILER Wawa, Inc. is a best-in-class tenant within the highly sought-after convenience sector and a tier-one retailer that is both online and recession resistant. Wawa operates over 1,000 locations in the Mid-Atlantic and Florida and reported more than $18.8 billion in Gross Annual Sales Revenue. Wawa is currently #2 on CSP Magazine’s “Fuels 50” list, which ranks convenience store brands by market efficiency, as well as Food & Wine Magazine’s America’s Best Convenience Stores, 2nd only to Texas-based Buc-ee’s on both. In 2025, Forbes Magazine ranked the company number 21 on its list of America’s Largest Private Companies. The company maintains a shadow credit rating from Fitch, which is investment grade.