| Corporate Guarantee: Lease Is Guaranteed by Starbucks Corporation, Eliminating Franchisee Credit Risk |
| Built 2025: New Construction Asset with Virtually No Near-Term Capital Expenditure Requirements |
| Structured Rent Growth: 10% Rental Increases Every Five Years in Option Periods Provide a Hedge Against Inflation |
| Long-Term Renewal Runway: Six 5-Year Renewal Options Extending Landlord Optionality Well Beyond the Primary Term |
| NN Lease Structure: Reduced Landlord Obligation with Tenant Responsible for the Majority of Operating Expenses |
Jim Shiebler CCIM, CEC
CBRE
