Investment Overview

WALMART SHADOW CENTER | CLEVELAND, TN (CHATTANOOGA MSA) • 45,079 square foot Walmart shadow-anchored retail center in one of the largest cities apart of the Chattanooga MSA • High-performing Walmart Supercenter alongside national credit tenants like Dollar Tree, Petsense(Tractor Supply Guaranteed), Cato, Verizon, and One Main • Balanced mix of national brands and service-oriented tenants supports dailyneeds visitation and consistent occupancy in a value-oriented trade area • Center has proven long-term operators and strong Placer.ai performance STRONG WALMART SHADOW CENTER DOMINANCE | EXCELLENT TENANT FOOT TRAFFIC WITH LONG-TERM OPERATING HISTORY • This Walmart Shadow Center sees 3.08 million visits annually and is ranked #2/18 shopping centers in a 15 Mile radius (Placer.ai) • Anchored by Dollar Tree and Petsense (lease executed by Tractor Supply) plus an inline credit mix (Cato, Verizon, One Main), this center has proven tenant stability with over 50% of the center having been there for 18-20+ years • Clear leasing momentum with five recent new leases (Urgent Care, Euro Gem, Smokin’ Hot Vape Shop, Lox ‘N Irons Salon, & S Lucky Spa) • Average tenant tenure of 16+ years, demonstrating sustained performance and location relevance STRONG PLACER.AI PERFORMANCE FOR MULTIPLE TENANTS IN THE CENTER • Verizon: 9/118 (top 7% statewide) | 757/5.1K (top 15% nationwide) • Dollar Tree: 17/221 (top 8% statewide) | 1.3K/8.5K (16% nationwide) • Cato: 13/49 (top 25% statewide) | 161/814 (top 20% nationwide) • Great Clips: 36/104 (top 34% statewide) | 1.1K/3.8K (top 29% nationwide) • Walmart: 45/198 (top 23% statewide) | 2.1K/7.5K (top 28% nationwide MARK-TO-MARKET UPSIDE • 100% leased center with stable income and potential future mark-to-market upside from near-term rent rolls • Weighted average in-place rent $15.88 PSF, 20% below the CoStar asking market rent of $20.02 PSF INTERCEPT POSITION ON DALTON PIKE/APPALACHIAN HWY-40 WITH COMBINED 50K VPD • Signalized corner with direct frontage on Dalton Pike SE and immediate proximity to Appalachian Highway(32,000 VPD), a primary retail artery connecting Cleveland to I-75 • The Walmart shadow center is in Cleveland’s dominant primary retail cluster, featuring Walmart, Aldi, Walgreens, and Food City • Limited competition in the area - Walmart’s 2.4M annual visits(Placer) dominate all other Grocers on this side of town • Positioned near Interstate 75 - a major north-south logistics and commuter artery linking Cleveland to Chattanooga, Atlanta, and Knoxville CLEVELAND MARKET | BROADER CHATTANOOGA MSA | 11M + ANNUAL TOURISM IMPACT • Cleveland serves as the primary retail hub for Bradley County and the surrounding trade areas within the Chattanooga MSA extension • Chattanooga MSA is a growing mid-sized metro serving a trade area spanning across Southeast Tennessee, Northwest Georgia, and Northeast Alabama • The region benefits from a diversified employment base spanning advanced manufacturing, logistics, healthcare, tourism, and corporate services • Major regional employment drivers include Whirlpool, Mars Chocolate (M&M’s/Twix), Duracell, Wacker Chemie, & Peyton’s Southeastern, plus Bradley Medical Center and regional commuters to and from Chattanooga • Continued industrial expansion and commuter connectivity to Chattanooga support long-term necessity-based retail demand • Chattanooga attracts more than 11 million annual visitors and generates more than 1.8 billion in visitor spending