Chris Hatch / NNN Income
@NNNIncome
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17,704
Following
999
Media
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Statuses
16,270
Principal at @ForzaCommercial and @LegendLLP \\ I build CRE \\ I ❤️ to solve problems \\ raising 5 kids with my best friend
Salt Lake City, UT
Joined August 2019
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Send us removal request.
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As I approach 100,000 followers I thought I would reintroduce myself.
I’m Chris, based in SLC where I live with my wife & 5 kids. 6th generation Utahn. We build ground up retail & MF throughout the Mtn & Desert states. Hit the link in bio to learn about investing with us.
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Do you know what a "weiner night" is?
Probably not, because my wife and I invented it during a 2023 blizzard in Provo, UT.
We lock our phones away, turn the TV off...
Each grab a Glizzy, and talk.
That's it, we simply talk and enjoy each other's presence.
We live together,…
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@AmandaMGoetz
Good news is between my wife and 3 daughters and their personal Stanley consumption we probably paid for 1/2 of this car replacement.
Solid hustle Stanley
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I just checked the trade in value of my 2020 Tesla Model X
$83,400 in Sep 2022
$44,400 in October 2023
Wow...
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I just got fully mean mugged at Einstein’s Bagels this am for not tipping.
It was followed up with “so you aren’t going to tip”
This tipping culture is a mess. The retailers that adjust to what the customers want as a logical approach are going to be rewarded.
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I realize this might start a Twitter fight and calling my manhood into ? but
I love these EGO products. We are now all electric at my house:
⁃blower
⁃snow blower
⁃trimmer
⁃Chain saw
They are way better than the former gas powered products I had. Prove me wrong.
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Diabetes is at an all time high
Insulin is running $500 / bottle
America: “Hold my Beer”
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Our DTO (drive thru only)
@Starbucks
has been loaded on to the trailers and is on the road being shipped to UT. Can’t wait to watch this modular unit get assembled on site this week in Lake Point, UT. This is our 2nd modular. Giant learning curve on the first one.
#retwit
#cre
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@twotenths
But is it possible to have an alphabet soup designation like CFA and not add it to your title?
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Good Morning to everyone except for the meth head that just stole the copper out of our rooftop unit on one of our vacant Burger Kings.
Attention Meth Head please call me next time and I will pay you $1,000 cash on the spot to not do this...
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Hand surgeon in my neighborhood just bought the house across the street from his house and then moved in. Listed former house for sale by owner
I told him the other day I needed hand surgery but I was just going to do it myself.
You have no idea what you are doing he said…
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I laugh every time I see or hear someone talk about Denver being great because of its “proximity” to the mtns.
I left the office 22 minutes ago and now I am sitting down to dinner in Park City at the bottom of the ski runs. This access is unmatched in the western US.
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@TripleNetInvest
So it was not Paramount for them to buy those buildings?
See what I did there. Dad jokes all night folks!
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Real question.
Do people actually sleep on an airplane? I logged 22 minutes of sleep on the way home from Hawaii (red eye flight).
I don’t get it. So uncomfy…
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Is there a worse virtual meeting platform than Teams?
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I bought this
@Arbys
14 years ago. It has cash flowed every month since I have owned it.
No hiccups in service following the Great Financial Crisis or during this “Soft Landing” time period.
Just direct deposit monthly.
This is why I ❤️ net lease.
#retwit
#cre
#nnnincome
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My financial advisor / friend passed away today. 46 years old. Pneumonia complications. We talked last week and everything was normal. He was cracking jokes. My wife and I went to breakfast with him a month ago.
Life is fragile. Hug your loved ones.
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Want to sleep soundly at night no matter what is happening in the financial markets?
BUY Net Lease Retail, a 🧵:
#retwit
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My wife just saw this over my shoulder and reminded me, “You don’t even know the schedule. You forgot about basketball and the other dance carpool”
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If you are an SMB person listen up.
Start a switch gear and electrical panel manufacturing company. Build your factory in MX.
You will be a centi-millionaire within a few years.
Nobody can get any new electrical with big capacity. 2 year lead times. True madness…
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@GellnerDavid
Can you even imagine?
The smell of beef n cheddar’s drifting up from below all day long.
Where do I sign?
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Dinner for my wife, 5 kids and I was a grand total of $62.11.
The European mind cannot comprehend this.
@innoutburger
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How I went from this tired old strip mall to a tired old Red Lobster building to a brand new
@olivegarden
on a long term absolute net ground lease in Pocatello, ID. Full return of capital + $10,000 / month+ in cash flow!! A🧵
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Fentanyl must be a hell of a drug.
We just turned over to SBUX and our 4 tenant bldg will be done in 60 days. This morning all of our parking lot lights look like this.
I can only hope whomever stole the copper wiring got high AF. Thx for the ~$50,000 in damages you caused.
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Closed a construction loan Friday for a 2 pad 100% pre-leased deal we are doing in UT.
6.52%
1 year const
2 years i/o
5 years mini perm
No prepay penalties
Spreads have moved for BTS dev. It has become an 8-9% world for unlevered yield on cost.
#retwit
#cre
#nnnincome
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Survive til 2025
I have heard this now 5x in the last 24 hours. Anyone else?
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A month ago my Landlord for our office space came to see me as we were wrapping up our lease renewal. He was pushing for a 10% bumps, I of course was arguing the state of the market and pushing for a flat renewal.
His building is 100% leased.
His pocket...
Guess who won?
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Never been a better time to be LONG Dutch Bros. Like never…
DM’s open. Please send sites. I want to build 100 Dutch Bros. I need sites. Send them over. The dirt dogs and I are ready to roll.
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@TripleNetInvest
You all keep arguing. Meanwhile in UT this is 28 min from my house and other than fentanyl / meth heads stealing copper wiring and pipes out of our vacant buildings we have no real crime to speak of.
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Happy Thanksgiving y’all. Time to get the party started…
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If you are a broker trying a different BOLD approach. That just happened to me this week:
A
@Matthews_REIS
broker reached out to me earlier this week. Conversation started like this:
Agent: Hi, from my research you appear to be a developer that builds for good retail tenants…
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ICSC 2024 was wild for me…
The true measure of the value of social media
3 weeks ago I decided on a whim to introduce the world to the Dirt Dogs (Alex / Dan). The Dirt Dogs are exactly what it sounds like. They spend days on end smelling like beef jerky and behind the…
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And so it begins. The inevitable fall of the first of the highly levered / Big BK franchisees…
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My grandpa built an
@Arbys
in SLC, UT in 1976. It has been paying rent since then until they closed Dec 2022. Our longest held legacy / family asset. 46 years of rent! Now we are working on an apartment development plan. Looking forward to the next 45 years of cash flow!
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Sep 10, 2020: Closed on Land
Dec 15, 2021: Signed ground lease with
@JackBox
Jan 1, 2024: Rent Commencement
Jan 15, 2024: Store Opens
Now 240 EFT rent payments over 20 years during which time I will never think about owning this property.
LFG!
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In Casper, WY on the road by myself
Passed round 1 of 3 on a rezone for 2 properties we own here.
Now eating a bone in rib-eye at Fire Rock.
All is good in the world.
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I need Dutch Bros Sites I can buy and develop in every state they operate in.
AL, AZ, CA, CO, FL, KY, NV, OK, OR, TN, TX, UT, WA
25,000+ vehicles per day
Easy convenient direct access
35,000 SF+ Lot Size
Drive thru use required
Purchase required
DM sites
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I landed in San Fran 2 hours ago. Happy to report I’m safe and healthy and nobody has broken into my rental car yet.
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Inbox down to zero emails
I feel like I could conquer a small country today.
Anyone else wired like this?
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I’m in Provo, UT eating dinner.
50% of the tables are drinking wine or cocktails at the restaurant I am eating at.
Utah’s eating / drinking behaviors are shifting rapidly RN. Pay attention if you are a restaurant operator.
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I need Dutch Bros Sites in every state they operate in.
AL, AZ, CO, FL, KY, NV, OK, TN, TX & UT
25,000+ vehicles per day
Easy, convenient direct access from the street(s)
Located in the retail trade area
35,000 SF+ Lot Size
Purchase Only
Drive thru use required
DM sites
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I just ran a pro forma for a 2,400 SF SBUX cafe store in a Mtn state location.
Land = $800,000. To build a SBUX here I would need to charge a $235,000 rent to hit a 7.25% UYOC.
160
@Starbucks
on market for sale
$142,740 avg rent
6.0% exit value
Houston we have a problem…
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Just spent 10 days in Italy 🇮🇹
- I have eaten Keto / Low carb for 6+ years now but not for the last 10 days! I have celiac so in the US the decision to eat low carb is easy. GF breads are literally terrible there. I was impressed that even at a little hole in the wall pizza…
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I started in the Retwit world 21 months ago.
I have been unapologetically tweeting about drive thrus since then.
Never did I ever suspect I would get invited to
@business
offices for a podcast to discuss my craft.
@TheStalwart
I look forward to our chat!
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How to increase productivity 101:
place a nitro cold brew coffee kegerator in the office
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"We are pencils down"
WTF does this mean anyway? Who uses a pencil to model their CRE deal?
"We are excel down"
"We have stopped using macros"
"The Data / What If / Goal Seek calculation is on hiatus at our office"
"We have ended our Microsoft subscription"
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She made me a dad a few times then she told me to open my heart so we can add in one more. She is the best.
Happy Mother’s Day Ms. NNN Income.
I hope you enjoy your weekend away with your sister and mom. Real Baller move leaving for Mothers Day.
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What an epic week.
* My first podcast hit
* Over 10K followers
* Walked our 200 door apt site in Idaho
* Met a landowner I met from Twitter which might result in a deal
I am long this app
Shoutout to my fav Twitter accounts from the beginning until now:
@gas_biz
…
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$400K of personal monthly cash flow. Read that again. Then realize he started in 2016. 🤯
Nick isn’t everyone’s cup of tea but watching him grow and scale at mass is next level amazing.
How many influencers are willing to tell you how they actually make money?
Or the names of their companies?
Well here goes:
I own the following businesses:
50% of Bolt Storage - real estate private equity and property management. 47 employees, 63 properties, 1.9 million…
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When I bought my 50 yard line
@Raiders
seats I purchased a 30 year personal seat license (PSL).
Our sales person told us we would get a right of first refusal on everything that came in to the Stadium.
I just got my offer to buy some seats and go to the Super Bowl.
LFG!
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I’m halfway through rewatching The Sopranos again.
The next LLC I form will be:
Bada Bing, LLC
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Ummmm so California ❤️ ‘s Dutch Bros.
Fountain Valley opened this am.
This brand is on fire.
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PREFAB Construction: What a wild process. Building is now set in Lake Point, UT. We have 3-4 weeks of work here to finish up with our GC then hand the keys to Starbucks to finish their buildout.
Not Cheaper
Can be 3-4 months faster
Not Cheaper
Much better quality building
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Just finished 14 days in France 🇫🇷 (9 in Paris, 1 in Normandy, and 3 in Cassis)
- I had countless friends, relatives, twitter family etc all asking me if we were ok the whole time we were gone. Not sure who needs to hear this but stop believing everything you read or hear on the…
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14 yr old = crying because the 10 yr old is bullying her
10 yr old crying because the 14 yr old is “spoiled by mom and dad”
7 yr old crying just because
5 and 12 yr old (boys) in the front driveway riding dirt bikes with church clothes on
Time to go to church
Happy Sunday!
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Name one city that has made more forward movement in the last decade than Las Vegas.
The Sphere
LV Aces
Raiders
Golden Knights
Resorts World
Fountainbleau
The Linq
Vegas Loop (Tesla Tunnels)
2x size of the convention center
Planet 13 (largest weed store on earth)
Formula 1
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It’s my 43rd bday today.
Meanwhile all I want for my birthday is to get closer to hitting my life goal of building 1,000 drive thrus.
Let’s do a birthday deal today?
DirtDogs [at] NNNIncome [dot] com
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Stayed at this gorgeous boutique hotel in Juárez this summer. I paid $19,785 / night but it was totally worth it to swim in this pool and use this bathroom.
A thread 🧵:
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There’s marrying up then there is me marrying Mrs NNN Income. 😍😍
Happy Sunday ya filthy animals.
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How do you become a “preferred developer” for a retailer?
I have had hundreds of inbound inquires coming to me from brokers and developers across the US following my
@fortworthchris
podcast. The question above has been consistently asked.
The short answer is it doesn’t really…
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This is what a peak condition MAGA Dad Saturday POWER lunch looks like.
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Date Night in Paris.
Le Train Bleu is an unreal venue located on top of the Gare de Lyon train station.
Steak Frites, fromage and my much better half.
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Hard not to fall hard for this place every time I visit. I love NYC. So much energy.
PS the owner rate offered as a 1% or greater owner in a Hilton hotel is epic. Auto Diamond status and auto upgrade to the highest available room category is epic. 51st floor at the conrad 👌
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Sugar is the drug killing our society.
I’ve been diabetic since age 13. The real kind of Diabetes not the one that is a choice.
My blood sugars have been better over the last 7 years on a low carb diet than the preceding 22 years.
90 day avg BS: 118 with a 34 std deviation
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Almost 1 year later and still wild to consider how the math works here??
How does this operator make any money?
Can somebody please explain how this business still works in one of the highest rent districts in the world.
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On a plane and the guy in the seat next to me has a dog on his lap. Doesn’t appear to be a service animal.
When did it become SOP to just fly with your animal on your lap for 4+ hours.
PS dog hasn’t stopped farting since we took off.
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Officially under contract on my first deal in TEXAS.
New
@DutchBros
coming soon. LFG
@dudewithacigar
Giddy up! 🤠
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Realtor vs Commercial Agent
I buy 12-20 commercial properties per year. The vast majority of those are sourced by commercial agents and brought to me as off market opportunities.
I asked a Realtor to help me see if he could source a lot / older home in a specific area of town.…
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I became an owner of CRE in 2010 when I bought my first property an Arby’s.
Since that time I have had countless interactions with tenants. Often a phone call with a tenant comes with a request from them. My response 100% of the time:
“Well what does the lease say about this?”…
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18 years later. Ms. NNN Income hasn’t aged a day. Me on the other hand…
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GM. I woke up to 5,000 followers. Quick intro to me:
My name is Chris. I am a 6th generation Utahn. I live in SLC with my wife and 5 kids. I have 100 assets. I have a few MHP’s, DT’s for days, lots of rest and strip malls and new asset class is ground up MF.
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Kevin with Greystone Capital called on a KFC I own. He has sold a number of restaurants and wanted to know if mine was for sale.
This location hasn’t been a KFC for over 3 years now. Kevin didn’t bother to look that up.
Hit him up though if you have a KFC
+1 (407) 967-7802
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⚠️ Warning not CRE related
Assignment:
Me to dress as my wife
Our friend to dress as me
Nailed it ✅
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One of our teammates got a vasectomy. This seemed appropriate. PS we don’t have an HR department.
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Loan Approved
Jack in the Box
Quick Quack
Both ground leases
6.50%
30 year am
10 year call
Boston Mutual Life Insurance Company
Arranged through Johnny Clawson
I double ❤️ that BM kept the rate. Our commitment was signed Sep 22. 10 year treasuries moved 50 bps since then.
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Bad News: I had to leave
@REconveneLA
early 😢. Thanks
@moseskagan
&
@SimranKagan
for a great time!
Good News: I made it home in time to put together this vanity for my 8 year olds birthday today.
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Overheard at the SLC
@delta
sky club this am.
Customer: We demand to come in here.
Delta: I’m sorry you can pay to enter but we do not have complimentary access for you.
C: We are flying first class
D: we do not provide complimentary access to our sky club for domestic…
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Lord grant me the confidence of a Persian General Contractor telling me he can build an
@DutchBros
in 90 days or less.
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Hope everyone has a wonderful day.
My crew was blessed with Easter Church which included a 25 person choir, organ music and a 15 player orchestra. Side bonus of having a high school chorister in your congregation.
No matter how you are celebrating spread kindness today 🙏🏾
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Hands down the best thing I saw on the internet this week.
How many of us feel this lil guy’s pain…
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Fall 2002
I’m 21 yrs old and I tell my developer Dad I want to own and develop CRE for a living.
My dad says perfect. Let’s get you employed as one of the following while you finish college.
- contractor
- lender
- broker
- title
- law office
I say no you misunderstood me I…
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Starbucks
5600 W 5400 S
West Valley City, UT
The coffee always tastes better when you have developed the building. Starbucks
#9
is open.
Let’s go!
☕️ 🥐
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I joined X / retwit 2 years ago.
Since then I have met virtually & IRL thousands of people that influence and determine CRE development and ownership decisions throughout the US
- gas stations
- apartments
- hotels
- SFR
- warehouses
- retail
- storage
I ❤️ this community.
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