Tremendous Leasing Upside

• The offering provides upside through leasing of 4,904 SF shop space vacancy (3 suites)and the free-standing 14,668 SF former Bartell Drugs (Rite Aid). This was a successful Bartell Drugs location that operated at the center for over 25 years, but Bartell Drugs has vacated due to the Rite Aid bankruptcy creating leasing upside for the new investor.

Excellent Site Access

• The Center has a dedicated above and below level parking garage with 275 parking stalls with multiple points of ingress and egress on Broadway, Harvard Ave, and E Union St.
• Dedicated site parking for a retail center in the heart of Capitol Hill is extremely rare and generates ample consumer draw to the site and provides easy access to the first and second level retailers.

Attractive Returns

• The offering provides attractive value-add returns, with a secure year-1 as-is yield. It is rare to find such a secure initial cap rate, with minimal down-side, and immediate upside.

Severe Barriers to Entry

• The immediate trade area contains severe barriers to entry as Capitol Hill is extremely difficult to penetrate and developing a competing project is nearly impossible. Harvard Market cannot be replicated and will continue to be the dominant retail center for the foreseeable future.

Strong NOI Growth

• Due to the leasing upside and contracted rental increases the going in yield increases approximately 325 basis points upon stabilization of the asset.
• The Center has a compound annual growth rate of 8.16% over the initial 10-year hold providing strong returns to the investor.

Shadow Anchored by QFC

• Although not a part of the offering, QFC adds the grocery component, and daily goods draw to the Center. Daily needs shopping centers continue to outperform all other retail products and serves as a hedge against e-commerce and any future economic slowdowns.

Strong Contracted Rental Increases

• 15 of the 16 tenants have contracted rental increases providing solid NOI growth.

Parking Area Revenue

• There is significant upside in the parking revenue as occupancy at the center increases and macro Seattle continues to experience back to office mandates.

Historically strong occupancy

• The Center has historically operated at or near 100% occupancy and strong tenant demand provides stability to the investor and is a testament to the quality and location of the Center. Current occupany levels are unique due to the Rite Aid bankruptcy, providing a rare opportunitiy for the investor.