Investment Overview

STRONG REAL ESTATE FUNDAMENTALS Generational real estate located within Town Madison mixed-use development Large parcel size of ±1.25 acres Latest Panera Bread prototype with ±3,500 SF with double drive-thru Affluent, dense and high-growth market Avg. HH Incomes: ±$136.8k (1-mi); ±$118k (3-mi); $106k (5-mi) 2022 Population: ±5k (1-mi); ±44.7k (3-mi); ±115.7k (5-mi) Growth since 2000: ±76.31% (1-mi); ±76.00% (3-mi); ±67.88% (5-mi) Flat topography with phenomenal visibility Multiple points of ingress and egress Adjacent to Redstone Arsenal military installation OPTIMAL LEASE STRUCTURE New 10-year lease Three (3), 5-year renewal options 10% rent escalations every 5 years Corporately guaranteed lease BEST-IN-CLASS TENANT 2,000+ locations throughout US & Canada Acquired by JAB Holding Company in 2017 for $7.5 B Part of Panera Brands, one of the largest fast casual restaurant platforms in the US Comprised of Panera Bread, Caribou Coffee & Einstein Bros Bagels TOWN MADISON ADVANTAGE Newly developed live, work, play development ±1 MM SF of retail, restaurants, entertainment, office space, hotels & housing ±464-acre development divided into four (4) districts Subject property is located within The Exchange District Other amenities within The Exchange District include: Toyota Field: 7,500 seat minor lease baseball stadium; home to Double-A Affiliate of LA Angles Dining & shopping Ballpark Apartments @ Town Madison: ±274-units Courtyard by Marriott Residence Inn by Marriott HUNTSVILLE, AL ECONOMIC DRIVERS US Army/Redstone Arsenal ±44,500 employees Annual economic impact of $18 B Huntsville Hospital ±9,000 employees 2nd largest hospital system in Alabama Annual economic impact of $1 B NASA/Marshall Space Flight Center ±6,000 employees (direct employees) Annual economic output of $8.3 B Cummings Research Park 2nd largest research park in US; 4th largest in world Home to 300+ companies, 26,000+ employees and 13,500+ students Capacity: 9.5 MM SF