Investment Overview

ALDI ANCHORED CENTER | KNOXVILLE/CHATTANOOGA MSA • This property is a 111,142 SF Aldi-anchored retail center in Athens, TN, located in both the Knoxville and Chattanooga MSAs • 86% credit tenancy & 19-year average tenant tenure proving tenant stability and long-term success within the center • Embedded rent growth with average in-place rents in the center trading 26% below market • Priced well below replacement cost at $83/SF VETERAN TENANCY | PROVEN OPERATORS • The dominant retail center in the Athens MSA, seeing 1.6 million annual visits with +14% year-over-year growth • Anchored by ALDI and Belk, plus an e-commerce resistant tenant mix including Goodwill, 7 Brew, H&R Block, Little Caesars, and OneMain Financial. • Long-term proven operators with an average tenant tenure of 19+ years • Exceptional Placer.ai performance on key tenants with multiple operators ranking in the top 7%–35% nationally • H&R Block (top 8% nationwide) • 7 Brew (top 27% nationwide) • Goodwill (top 29% nationwide) • Belk (top 35% nationwide) MARK-TO-MARKET UPSIDE |80% OF GLA LEASED BELOW MARKET • 80% of the center is paying below market rents • Average in-place rents of $10.68 PSF are significantly below $14.40 PSF market rents (Costar) • Recent Renewal from Belk but embedded upside via Junior Box backfills • Belk is currently paying $3.00/SF • Numerous Junior Box tenants targeting a location in Athens. (IE. Burlington, Ross, etc.) • Covered land play • All but one tenant are on MTM Leases in the existing outparcel strip center – Total NOI approximately $60K (Subway expires 2028 with no options) • Neighboring brand new 7-Brew development proves demand for additional outparcels SIGNALIZED HIGH-TRAFFIC CORNER | I-75 ACCESS • Signalized corner location at Decatur Pike and Lee Highway crossroads (35K combined VPD), with immediate I-75 access (46K VPD) • Positioned within Athens’ dominant retail corridor surrounded by heavy duty line up of national retailers, including Walmart, Lowe’s, Hobby Lobby, Marshalls, Harbor Freight, Dollar Tree, and PetSense • Strong tenant demand and continued new development in the area reinforce long-term positioning and leasing durability ATHENS ECONOMY | DOUBLE MSA DRAW • Located between Knoxville and Chattanooga, Athens captures spillover from both MSAs while also serving as a main retail location for the surrounding communities • Major employment drivers, including DENSO Manufacturing (1,360 employees), Mayfield Dairy Farms (1,900 employees), Starr Regional Medical Center, and McMinn County Schools • Tennessee Wesleyan University and regional events (MooFest) further contribute to recurring traffic and consumer activity