7777 WINCHESTER RD Memphis TN 38125

The Property will be a brand new build-to-suit for Whataburger featuring 2022 state-of-the-art construction and highly upgraded architecture. The Tenant is operating under a new 15-year ground lease with 10% rental increases every five years and zero landlord responsibilities.

The Property is ideally located in Memphis, TN, just 20 miles east of downtown. Memphis is the second most populous city in Tennessee and the 20th largest metro area in the nation with an estimated population of 1.34 million. As of December 8, 2021, the total GDP for Memphis was $77.3 billion.

• Industry-Leading Fast Food Chain - Whataburger is one of the fastest-growing QSR chains in the U.S. with over 840 locations and $2.7 billion in systemwide sales. The company boasts the third highest average sales per unit among national QSRs with over $3 million per unit. In addition, Newsweek ranked Whataburger #2 on its 2021 list of “America’s Best Customer Service” brands in the Fast Food category.

• Brand New Build-to-Suit with New 15-Year Absolute NNN Ground Lease - The Property will be a brand new build-to-suit for Whataburger featuring 2022 state-of-the-art construction and highly upgraded architecture. The Tenant is operating under a new 15-year ground lease with 10% rental increases every five years and zero landlord responsibilities.

• Oversized Parcel with Double-Lane Drive-Thru - The Property is situated on 1.5 acres of land, and the building is equipped with a rare double-lane drive-thru, reserved for high-volume locations.

• Memphis, TN - The Property is ideally located in Memphis, TN, just 20 miles east of downtown. Memphis is the second most populous city in Tennessee and the 20th largest metro area in the nation with an estimated population of 1.34 million. As of December 8, 2021, the total GDP for Memphis was $77.3 billion.

• Across From Brand New Topgolf Memphis - Topgolf's first Memphis location is currently under construction directly across from the Property and is slated to open November 2023. The new location is estimated to create 300 new jobs and generate over $1 million in annual tax revenue for the city. On average, Topgolf locations serve 400,000 visitors annually.

• Across From Planned 70-Acre Mixed Use Development - In addition to the new Topgolf facility, plans are underway for The Polo Grounds North, a 70-acre mixed use development, which will include approximately 376 multifamily units, 146 townhomes, 85 single-family homes and retail units.

• Proximity to FedEx World HQ, Other Major Economic Drivers - The Property is ideally-positioned near some of the city's major economic and traffic drivers, including the FedEx World Headquarters (30K employees; .05 miles east), University of Memphis (21K students; 9 miles west), Memphis International Airport (3.6M passengers annually; 8 miles west), and Shelby Farms Park (3M visitors annually; 6 miles north).

• Highly-Trafficked, Signalized Intersection - The Property is ideally-positioned on a corner lot at the signalized intersection of Centennial Drive and Winchester Road with direct exposure to 36K+ vehicles per day. It also features multiple points of ingress and egress.

• Regional Trade Area - The Property is well-situated in the metro area's primary shopping destination. Within two miles of the Property, there is 12MSF of retail space. Surrounding tenants include Costco Wholesale, Walmart, Sam's Club, Dick's Sporting Goods, Burlington, At Home, Lowe's Home Improvement, The Home Depot, PetSmart, Kroger, Ollie's Bargain Outlet, Marshalls, Starbucks, Chick-fil-A and more.

• Strong Demographics - The Property benefits from excellent demographics including a three-mile population of 84K and a three-mile average household income in excess of $104K.

• No State Income Tax - Tennessee is one of the rare states with no state income, estate, or inheritance taxes.