Investment Overview

NORTHPARK SHOPPING CENTER • The subject property is a 95% occupied, 71,068 square foot shadow-anchored retail center located in Monticello, Arkansas • The shopping center has been anchored by a Walmart Supercenter for the last 26 years | Walmart owns the Walmart Real Estate • With a limited amount of surrounding retailers, Walmart serves as the major single-source retailer in this market and several surrounding markets • #1 Walmart in a 30-Mile Radius DOMINANT REGIONAL SHOPPING CENTER • NorthPark Shopping Center sees an astounding 3.4M annual visits (including Walmart, Shops, & Outparcels) • This ranks as the #1 most visited shopping center in a 50 mile radius (out of 17 shopping centers) • Due in large part to leasing activity, Northpark Shopping Center is in a major upward trajectory, seeing a 55% increase in visits over the last 3 years • NorthPark Shopping Center services 60,000+ people across a 50-Mile Trade Area STABLE NATIONAL TENANT LINEUP | LEASING MOMENTUM • 60% of the center is leased to strong national brands • CATO, Hibbett Sports, It’s Fashion Metro, Pizza Hut, and Rent-A-Center are seasoned highperforming tenants in this center and have an average tenant tenure of 21 Years • It’s Fashion Metro just executed a 1-Year lease renewal • Leasing Momentum | The high traffic nature of the center has drawn attention and recent lease executions from Burke’s Outlet, Shoe Sensation, and Verizon • Seller has executed 13 leases over the last 2 years • Average Lease Term of National Tenants: 4 Years • Weighted Average Lease Term of Shopping Center: 5 Years HEART OF RETAIL CORRIDOR • The shopping center is the heart of a retail corridor serving a 50-mile trade area • Located at the intercept position of Highway 278 W and 425 N | Average VPD: 30,000 • Outparcels: McDonalds, Wendy’s, Dollar Tree, Exxon, Taco Bell, Popeye’s • Adjacent to Holiday Inn, Hampton Inn, Take 5, Dairy Queen, Walgreens, and Sonic