Investment Overview

MARKET AT SUMMER OAKS • Market at Summer Oaks is an 86,695 square foot retail center located in a dense and affluent suburb of East Memphis, TN • The property is stabilized at 100% occupancy and includes national brands such as Advance Auto Parts, Harbor Freight Tools, and Barton’s Home Outlet • While stabilized, the offering presents an investor additional upside in adding value through rent growth (tenants paying half of market rent with no reimbursements) • The subject propety is positioned in a flourishing retail corridor with many successful retailers in the area HISTORY OF TENANT PERFORMANCE | HIGH FOOT TRAFFIC • Market at Summer Oaks ranks #6 / 21 of all shopping centers in a 5-Mile Radius (Top 24%) • Advance Auto, Harbor Freight Tools, and Barton’s Home Outlet make up 53% of the total GLA • These tenants have been in this center for 20 years and the each of the locations rank at the top within the chain (please review Placer.ai foot traffic data on the next page) • Lavish Home Furniture was previously ALDI, who’s sales performance exceeded expectations at this center and resulted in the tenant building a new construction single tenant location directly next to the center • Market at Summer Oaks continues to bring new tenant demand, as the seller will be building a new construction outparcel estimated to break ground in the coming months (not included with sale) HIGH-TRAFFIC RETAIL CORRIDOR • The center is strategically positioned in the flourishing Summer Ave retail corridor, with over 1.5M SF of retail along the street • The shopping center faces Summer Avenue which sees 24,197 Vehicles Per Day • Surrounding Retailers include: Kroger, Lowe’s Home Improvement, ALDI, Ross, TJ Maxx, Big Lots, Family Dollar, along with many more • ALDI & Lowe’s Home Improvement are adjacent to the center and are both top 50 locations within their Chain (Top 3% in the Nation) UPSIDE VIA RENT GROWTH • Average Rental Rate: $7.70 • Only Advance Auto, Harbor Freight, and Barton’s Home Outlet reimburse for expenses, the rest of the tenants are currently on gross leases • The market rent along the Summer Ave Corridor is $14/SF with reimbursements (CoStar Data) DENSE & AFFLUENT SUBURB OF EAST MEMPHIS • The property is situated in a low-crime and affluent neighborhood of East Memphis, just north of Germantown • 3-Mile Population: 75,349 • Avg. Household Income: $87,337