•	Tenant has recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site
•	The lease features 7% rental increases every 5 years throughout the initial term and at the beginning of each option, growing NOI and hedging against inflation
•	The lease is guaranteed by a 21-unit entity. Guarantee is projected to grow into a
30-unit operator
•	Tenant has signed an agreement with Popeyes corporate to develop 30 new stores in NM over the next four years. All 30 stores will be under the “Legacy Chicken, LLC” entity

Offering Memorandum

•	The site is strategically located along White Sands Boulevard with clear visibility and access to an average of 16,500 vehicles passing by daily
•	The asset benefits from direct access onto U.S. Highway 70 (4,300 VPD), providing easy commutes for both employees and customers
•	The surrounding national/credit tenants include Walmart Supercenter, Buffalo Wild Wings, O’Reilly Auto Parts, Staples, Dollar Tree, and others
•	The site is complete with a drive-thru to maximize both sales and convenience to the customer base immediately surrounding the site
•	Set to open in November 2022, the building will feature state-of-the-art, brand new, high-quality construction with modern amenities and design

Alamogordo, NM - Popeyes

<p>Ivy Kwon joined SRS Real Estate Partners in 2017 and is a Senior Marketing Associate in the Newport Beach office. Ivy is responsible for online marketing including social media and email marketing for SRS’ Capital Markets team. She also oversees pipeline management and coordinates events. Before joining SRS, Ivy worked in the entertainment industry doing marketing and merchandising. </p><p>Ivy has a BA degree from Chapman University. </p>

Ivy Kwon

Senior Marketing Associate

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Alamogordo, NM - Popeyes

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Dale Robbins