Investment Overview

NEWLY CONSTRUCTED RETAIL OFFERING Marcus & Millichap is pleased to offer for sale two adjacent newly constructed essential service retail strip centers totaling 13,996 square feet. Situated on 2.71 acres, the property is 100% leased to seven tenants, and anchored by Chipotle, Starbucks, Hangry Joe’s, and Jersey Mike’s. Boasting a WALT of 8.51 years, newer construction, in a master planned development, this is a high quality, lower management investment. The Offering may be acquired as a portfolio or individually, providing investors flexibility on their acquisition and in their disposition strategy. CREDITWORTHY TENANT ROSTER Occupied by a creditworthy roster with national presence. Starbucks anchors the two-tenant strip alongside Hangry Joe’s Hot Chicken, operating on the endcap with a drive-thru. A corporate Chipotle, one of the most sought-after restaurant brands in the country, and Jersey Mike’s anchor the neighboring five-tenant strip operating on the two endcaps. The tenant mix is serviceoriented and food-focused driving daily traffic. Placer.ai indicates the anchor tenants perform well since opening in 2025. Starbucks ranks in the 63rd percentile chainwide with 308,800 annual customer visits. Jersey Mike’s 80,900 visits place them in the 74th percentile nationally, and the 80th percentile among stores within 15 miles. Chipotle, Hangry Joes’s, and Wawa all provide considerable cross traffic as well. THOUGHTFULLY STRUCTURED LEASES Tenants are subject to original 10-year leases with renewal options, and each lease provides attractive rent growth. Jersey Mike’s, Hangry Joe’s, and Hibachi Express rents increase annually, while Chipotle, Starbucks, Lecco Nail Bar, and Cinnabon Swirl rents increase every five years. The leases also provide attractive expense recoveries, with all tenants reimbursing their pro rata share of operating expenses. Jersey Mike’s, Hangry Joe’s, Hibachi Express, Lecco Nail Bar, and Cinnabon Swirl reimburse management fee and a 15% administrative fee, while Starbucks reimburses a 10% administrative fee. Further enhancing the tenancy, the franchisee-operated leases are backed by personal guaranties, including Jersey Mike’s (15 units), Hangry Joe’s (1 unit), Hibachi Express (3 units), Lecco Nail Bar (25+ units), and Cinnabon Swirl (1 unit), providing additional recourse in the event of tenant default. SHADOW-ANCHORED BY WAWA Situated at the entrance to the Westside development, Wawa functions as a shadow anchor for the Offering providing more than 807 thousand visits annually per Placer.ai. Wawa is among the most productive traffic generators in convenience retail, attracting customers both on and off peak. Operating 24 hours per day, this location captures morning and evening commuters, along with daytime, late-night, and weekend traffic. This traffic pattern aligns directly with the food uses at Westside, where Starbucks, Chipotle, Jersey Mike’s, Hangry Joe’s, Hibachi Express, and Cinnabon Swirl will capitalize on the customer demand. Wawa’s presence is also a vote of confidence in this location, as the chain is notoriously selective on traffic, access, and demographics when choosing a site. PROXIMATE TO NEW RESIDENTIAL DENSITY The master-planned mixed-use Westside community includes Duvall Westside, a 484-unit apartment community, along with more than 130 townhomes and additional commercial pad development, including Panda Express on the neighboring parcel, which is under construction. Avalon Laurel’s 340-unit apartment community sits immediately across Van Dusen Road providing additional residential density. The Offering is well located at the intersection of Konterra Drive and Van Dusen Road, with access to nearly 30,000 vehicles per day. It is ½ mile from Interstate-95 and 1.5-miles from US Route 1, the area’s primary commercial corridor.