Casey's

Recently completed in 2024, the asset reflects modern construction standards and is fully compliant with current building codes.
Rental rate is below the level of recently executed leases within the retail corridor, offering future upside in rental income and overall returns.
Strategically positioned along Schaad Road and Clinton Highway, just ±7-miles from both Downtown Knoxville and the University of Tennessee. Surrounded by top-tier national tenants including Target, Kroger, Walmart, Lowe’s Home Improvement, Home Depot, Aldi, and Chick-fil-A.
This is the first Casey’s location in the Knoxville MSA developed from the ground up, with previous entries being rebranded acquisitions—underscoring a long-term operational commitment to the area.
Casey’s contributed between $3 million and $4 million toward the development, demonstrating meaningful financial commitment and long-term occupancy intent.
Passive investment with zero landlord responsibilities under an Absolute Net (Abs.NNN) Ground Lease structure.
Over ±19 years remain on the initial lease term, providing stable, long-duration cash flow.
Lease guaranteed by Casey’s General Stores, Inc. (NASDAQ: CASY). Casey’s is the 3rd largest convenience store operator and the 5th largest pizza chain in the U.S.
Built-in 5% rental escalations every five years during the primary term and each option period enhance long-term yield and hedge against inflation.
Located within seven miles of the state’s largest university, home to over 38,000+ students, with significant enrollment growth in recent years—further supporting robust consumer traffic.

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Hutt Cooke