Investment Overview

STRONG REAL ESTATE FUNDAMENTALS Brand new 2023 AutoZone Ground Lease (projected store opening & rent commencement November 15, 2023) Outparcel to Market at Mirada, a Publix anchored shopping center, which opened on August 12, 2021 Located at SR 52 and Clinton Ave, both recently expanded to 4-lane divided roads as part of an $85 million road improvement project New SR-52 has been realigned to provide connectively between Interstate-75 and US-301 Located in a high-income growth corridor of the Tampa MSA (3.1million residents throughout the Tampa MSA) Located at the front door of Mirada, a ±6,000 unit residential development with a 15-acre Crystal Lagoon under construction An additional ±5,630 additional homes have been built or planned in close proximity to Market at Mirada Located less than 2 miles east of Interstate 75 OPTIMAL LEASE STRUCTURE Corporate Lease Guarantee from AutoZone, Inc. Investment Grade Credit: S&P “BBB” bond rating Absolute NNN, Fee-Simple 15-Year Ground Lease 8% rent escalation every 5 years, including Option Periods Four (4), Five-year option periods each with 8% rent escalations Base Rent of $65,000 in Lease Years 1-5, which is below market for a Ground Lease w/ a 7,381/sq ft building located on a 1.07 ac. site INDUSTRY LEADER WITH STELLAR CORPORATE CREDIT AutoZone ranks #258 on 2023 Fortune 500 list As of Q2 2023, 7,044 locations across the U.S., Puerto Rico, Mexico, and Brazil 2022 total sales were $16.3 billion, an increase of 11.1% from the prior year AZO reported net sales of $5.3 billion in Q4 2022, an increase of 8.9% from the fourth quarter of fiscal 2021