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First Watch | New 12yr Corp NN w/ Increases 5353 Belt Line Rd

5,672 SF Retail Building Dallas, TX 75254 £4,880,599 (£860/SF) 5% Net Initial Yield

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Investment Highlights

Brand New 12-Year Lease | Corporate Signed (NASDAQ: FWRG) | Options To Extend | Scheduled Rental Increases | December 2024 Grand Opening
Village on the Parkway | #4 Most Visited Shopping Center in Texas | Adjacent to Whole Foods (58,000+ SF) & Walmart
Located Along Belt Line Rd. | Signalized, Hard Corner Intersection | North Dallas Tollway (161,000+ VPD) | Excellent Visibility & Access

NN | Fee Simple Ownership | Minimal Landlord Responsibilities
Dense Retail Corridor | National/Credit Tenant Presence
Strong Demographics In 5-Mile Trade Area | Six-Figure Incomes

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, freestanding, newly renovated, First Watch investment property located in Addison (Dallas), Texas. The tenant, First Watch Restaurants, Inc, recently signed a brand new 12-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 6 years throughout the initial term and at the beginning of the first option period, steadily growing NOI and hedging against inflation. The lease is NN with minimal landlord responsibilities making it an ideal, management free investment opportunity for a passive investor in an income tax free state. The property is scheduled to open for business in December 2024.