Investment Overview

RARE WALGREENS LEASE WITH RENT INCREASES The Lease provides 5% fixed rent increases every 5-years during the primary term and the 12, 5-year option periods. NEW 15-YEAR ABSOLUTE NNN LEASE The subject property operates under a new Absolute NNN Lease with no Landlord management or maintenance responsibilities whatsoever. INVESTMENT GRADE TENANT The Lease is guaranteed by Walgreen Co., a subsidiary of Walgreens Boots Alliance, Inc. and rated Baa2/Stable by Moody’s. Walgreens Boots Alliance, Inc., the Parent Company, carries an Investment Grade Credit Rating of BBB/Stable from S&P and Baa2/Stable from Moody’s. WELL-ESTABLISHED LOCATION WITH DRIVE-THRU The subject property benefits from a drive-through pick-up window to deliver prescription and non-prescription drugs along with many other essential retail items during the COVID-19 pandemic. Walgreens has a 11-year operational history at this location and the new 15-year absolute NNN lease (with increases) reflects their re-commitment to this location for the foreseeable future. ESSENTIAL RETAILER OPERATING AND ASSISTING U.S. AUTHORITIES DURING THE COVID-19 PANDEMIC(3) As a global, pharmacy-led health care company, Walgreens Boots Alliance has been working to ensure the safety and well-being of their colleagues, patients and customers during the pandemic of COVID-19. Their retail pharmacies have worked to provide up-todate information and public health guidelines to customers, and their emergency response teams across the business are actively working to find ways play a greater role in what has become a global emergency – including working with the United States federal government to expand access to COVID-19 testing. CLOSE PROXIMITY TO UF HEALTH NORTH HOSPITAL & MEDICAL COMPLEX Situated 1.5 miles north of the property is the UF Health North, a 210,000 square-foot medical complex that includes a 92-bed hospital, 24/7 adult and pediatric emergency center, and an outpatient medical office building housing more than 30 specialty services offered by top University of Florida and community physicians. UF Health North is the only full-service hospital in North Jacksonville. LOCATION NEAR JACKSONVILLE INTERNATIONAL AIRPORT (JAX) AND INTERSTATE 95 The Walgreens has frontage along Airport Center Drive leading to Jacksonville International Airport less than 4 miles to the west. Over 7.1 million passengers passed through airport in 2019. Interstate 95 (I-95), connecting Georgia with Jacksonville and the rest of the Florida coast, is less than 1 mile west of the property. I-95 is the main Interstate on the east coast of the U.S. with average daily traffic counts of 77,233 near the property.