INVESTMENT OFFERING

SAB Capital is pleased to present the exclusive offering of a single-tenant, net-leased Whataburger located in Midland, TX. This exceptional investment is a new, ground-up construction secured by a brand new absolute triple net (NNN) lease with a 15-year term, along with 10% increases every 5 successive years, with three 5-year options.

Whataburger now operates within a combined network of over 1,180 stores across 17 U.S. states. With $4.0B+ in sales in 2024 and a strong corporate guarantee, Whataburger is considered an investment-grade tenant.

Strategically located in Midland on a parcel with several other new developments for national tenants (Murphy USA, Valvoline, 7Brew) currently under construction, the property benefits from superior visibility, signage and access with traffic counts exceeding 63,000 vehicles per day. The property is located in the shadow of a Costco and also has nearby surrounding retail spaces that include national tenants such as Sam’s Club, H-E-B, McDonald’s, Panda Express, Raising Cane’s, Chick-fil-A, and many others.

With its strong real estate fundamentals, triple-net lease structure, corporate guarantee and premier location, this offering truly represents a passive, low-risk opportunity.

• Brand New 15-Year Absolute NNN Lease | Corporate Guaranteed Lease
  • Whataburger has executed a brand new 15-Year lease with three (3) 5-year extension options
  • The lease is corporate signed from Whataburger, a Significant QSR Operator with over 1,180 stores Nationwide
  • The lease includes 10% rent increases every 5-Years, including during the option periods

• Absolute NNN Lease Structure | Zero Landlord Responsibilities
  • Tenant pays for Taxes, Insurance, CAM, and maintains all aspects of the building including roof, structure, and parking lot
  • Zero Landlord Responsibilities
  • Ideal Management Free Asset for a Passive Investor

• Prime Location in the Shadow of a Costco Wholesale | Entire Parcel Under Development with Several National Retailers
  • Located on Highway 158 (6k VPD) and Adjacent to Highway 191 (33k VPD) and 1 mile from Highway 250 (63k VPD)
  • Located in the Shadow of a Costco Wholesale, Sam’s Club, and H-E-B and Adjacent to Other Major Retailers (McDonalds, Panda Express, Raising Canes, Chick-fil-A, etc.)
  • The Entire Surrounding Parcel is Under Development: Incoming Murphy USA, Valvoline, 7Brew currently under construction

• Strong Area Demographics | Expected High Growth Area
  • Strong Area Demographics: >97,000 Residents within a 5-mile radius and projected population growth >12.5% over the next 3 years
  • Median Incomes within a 1-mile Radius exceed $125k and $114k within 5-miles