| ABSOLUTE NNN: Tenant covers taxes, insurance, repairs, and all maintenance — a truly passive investment. |
| BELOW REPLACEMENT COST: Fully built restaurant at a basis well below new construction, with built-in equity as costs rise. |
| OPERATING HISTORY: Pizza Hut has operated continuously at this location since the building was constructed. |
| MARKET-RENT OPTIONS: Three 5-year renewals each reset to fair market rent (FMR) with no rent caps. |
| 80-UNIT FRANCHISEE: Experienced Pizza Hut operator with ~80 locations and a personal guaranty from an industry veteran. |
| HWY 62 / MCAGCC: Frontage on 29 Palms Highway serving Twentynine Palms and the Marine Corps Air Ground Combat Center. |
Renato Lorja
CIRE Partners
