Investment Overview

225 Leonard Drive is a combined 14,550 square foot two tenant NNN Industrial facility situated on 1.69 Acres of land in Groton, CT. The first building (4,050 square feet) was originally built as a sailing ship restoration facility in 2010 and then utilized by a cross fit gym. The second building (10,500 square feet) was built to suit in 2018 for Beer’d Brewing and Mystic Cheese, two local high end purveyors of beer and cheeses. Beer’d Brewing signed a new 10 Year NNN Lease in 2018 with one 10 Year Option. The lease allows for annual increases of 3% throughout the remaining term of the lease. Mystic Cheese originally signed a 10 Year NNN Lease in 2018 with one 10 Year Option. The lease allows for annual increases of 3% throughout the remaining term of the lease. There are currently 3.5 years of term remaining on the original leases and both tenants have invested substantially in their fit out and equipment as they’ve grown. Beer’d Brewing now occupies the original building for storage and distribution while maintaining enough space for continued expansion capacity. The town of Groton is located within New London County midway between Boston and New York and is home to the General Dynamics (NYSE: GD) subsidiary Electric Boat’s (EB) nuclear submarine building facility. This parcel is located within the Groton Airport Industrial Park and directly across from the Airport along with 14 other parcels occupied by a variety of EB suppliers and sub contractors, transportation facilities, commercial contractors and distributors. The property is located within 1.5 miles of US Route 1 and the primary retail corridor within town which includes WalMart, Stop & Shop, Kohl’s, Big Y Supermarket, ALDI, and many other national retailers. The Interstate 95 interchange is 2.5 miles and provides regional access directly to both Boston (100 miles) and New York City (130 miles). The immediate area demographics reflect a large and growing population over 75,000 within 5 miles and very strong incomes of over $90,000 in that same ring. The immediate area is rapidly growing due to the US Government contracts with EB to build the next generation nuclear fleet of submarines. These contracts include 12 nuclear submarines directly worth tens of billions of dollars and additional economic benefits for suppliers, manufacturers, construction, housing and surrounding communities that will continue well into the next decade.