Kroger & Bartell Drugs Anchored

• The grocery & drug component provides stability and draw to the investment
• Fred Meyer and Bartell Drugs recently signed lease extensions highlighting their commitment to the Center.
• This is a rare opportunity to acquire a Kroger anchored center within the Pacific NW.

Bartell Drugs Full Remodel & Below Market

• Bartell Drugs recently completed an extensive interior and exterior remodel, including a “banner flip” from Rite Aid to Bartell Drugs. Given the hard corner location and free-standing pad with a drive-thru, Bartell Drug’s rent of $11.94/SF/YR provides future rental upside.

Fred Meyer Capital Investment

• Fred Meyer recently completed exterior and interior improvements to this location which is a testament to the success of this store and Kroger’s commitment to the location. Improvements included new refrigeration, new exterior signage and a new “click & collect” shopping feature.

WALT

• The Center benefits from long-term leases and recent lease extensions providing a WALT of 4.41 years.

3.25% Compound Annual Growth Rate

• The Center benefits from a solid growth profile and contracted rental increases producing a 3.25% CAGR over the initial 10-year hold providing strong returns to the investor.

Recent Lease Extensions and New Leasing Momentum

• Lease Extensions:
• Subway: 5-year (2024)
• Tan Republic: 5 1/2-year (2024)
• Simply Hot Yoga: 5-year (2023)
• Zen Ramen: 10-year (2023)
• Bartell Drugs: 10-year (2022)
• New Lease Executions:
• Tutu School: 5-year (2023)
• WSECU: 10-year (2022)
• Star Boba: 10-year (2021)

Free-Standing Pads

• The Center contains five free-standing single tenant buildings and four free-standing multi-tenant buildings providing flexibility and a potential future break-up strategy. The free-standing single tenant pads are highly sought after proven by interest from national tenants throughout this corridor and at James Center specifically.