2501 E FRANKLIN BLVD, GASTONIA, NC 28056-7262

Strategic Location & Accessibility

• Positioned just off E Franklin Blvd (37,500 VPD) and backing up to I-85 (142,000 VPD), Chipotle and Mattress Warehouse benefit from excellent regional connectivity for visitors, commuters, and logistics.
• The surrounding Gaston County offers a growing mix of residential and commercial development, while still maintaining some of the suburb’s affordability.

Strong Operating History

• Both tenants at the subject property demonstrate a strong operational track record, with an average operating history of 10 years.
• Additionally, the weighted average lease term (WALT) of 5.85 years provides meaningful forward stability, building on the established presence of Chipotle and Mattress Warehouse at the asset.

Wider Reaching Trade Area

• Both tenants at the subject property demonstrate wide trade areas due to the ideal positioning in the market and proximity to I-85.
• According to Placer.ai, both tenants attract over 40% of their customers from a distance greater than 7 miles.
• Even more impressive, over 30% of the asset’s customers are traveling more than 10 miles to access these shops.

Corporately Guaranteed Leases

• Both Chipotle and Mattress Warehouse operate under corporately guaranteed leases, providing investors with strong confidence in the creditworthiness of the rent roll.
• Chipotle Mexican Grill (NYSE: CMG), with a market capitalization exceeding $70 billion, is widely regarded as one of the premier tenants in the net lease space.

Excellent Demographics

• Gastonia, NC benefits from close proximity to Charlotte and is easily accessible from large economic drivers like Charlotte Douglas International Airport.
• The asset benefits from a 114K 5-mile population that is expected to grow 3.85% over the next 5 years.
• Finally, the 1-mile average household income of $115K is well above the national average.

Embedded Rent Growth

• Chipotle has a rent bump in the middle of their current term as well as rent bumps with each 5-year option period.
• Additionally, Mattress Warehouse has escalating 10% rent bumps with each of their 5-year option periods.