Investment Overview

SHOPPER’S WORLD • The subject property is a 24,416 square foot retailc center shadow anchored by a high performing Walmart and located in Morgantown, WV – the home of West Virginia University • Stabilized at 95% occupancy, with upside opportunities • 52% of shopping center is Dollar Tree and West Virginia University Healthcare • Located just 10 minutes from WVU Campus • Walmart Shadow Anchor since 2008 | Walmart owns the Walmart Real Estate HIGH TRAFFIC SHOPPING CENTER • Shopper’s World sees 1.9M annual visits • The center sees a high number of visits from a 30-Mile Trade Area • This ranks as the #1 (of 7) most visited shopping center in a 5-Mile radius (Placer.ai) • Interstate Location | Property is located just off Interstate 68 which sees 50,000+ Vehicles Per day WEST VIRGINIA UNIVERSITY MEDICAL • The two anchor tenants of this shopping center are Dollar Tree and WVU Healthcare, which comprise 52% of the center • The West Virginia University Health System is the state’s largest health system and largest private employer • The health system (guarantor of this lease), has over 20 locations, 21,720 employees and 1,843 beds • Tenant has made a significant investment into the buildout of this location, and drives much of its traffic as the “off-campus” site for WVU Medical, saving patients travel & traffic time STABILIZED WITH NATIONAL TENANTS | VALUE-ADD OPPORTUNITY • 43% National Tenants | Dollar Tree, State Farm, and Gamestop • Dollar Tree and Gamestop are original tenants since 2008, while State Farm just executed a new 5-year lease in January of 2024 • Average Tenant Tenure: 8 Years • Value-Add Opportunities • 1 Shop Vacancy (5% of Center ) | Suite is “turn key” with a completed build out for Barber Shop — Buyer would incur no TI cost backfilling with new operator. • Nail Salon Tenant is on a month to month lease paying $13/SF | Option to extend tenant on a longer lease or backfill with new operator with full Nail Salon build out in pl ace. • Average Rent for all shops is $20.95 | Estimated rent for backfilled suites is $22/SF