CORPORATE LEASE WITH FORTUNE 500 COMPANY

• Sherwin Williams has over 4,900 locations and employs over 61K people | Market cap of $63.89B (NYSE: SHW) | 2022 EOY sales increased to 11.1% to a record $22.15B

10-YEAR BUILD-TO-SUIT

• New construction built with Sherwin’s newest store layout | 10 year lease signed with Sherwin Corporate provides stable income throughout the entire term | 8 additional option periods

STRONG VACATION MARKET WITH BUILT-IN DEMAND FOR PAINT USE

• The NC outer banks have experienced a 244% increase in vacation rentals over the past 2 years, with many of those vacation homes needing to be painted on an annual basis | Dare County has seen an 8% increase in tourism spending from 2021-2022

LOCATED ON MAIN RETAIL CORRIDOR

• Over 537K SF of retail with 0% vacancy within a 1-mile radius | Nearby National Tenants include: Target, Belk, Food Lion, Publix, and Lowes Home Improvement | N. Croatan Hwy has over 32K VPD

NORTH CAROLINA GROWTH FUNDAMENTALS

• North Carolina added 133K people from July
• 01, 2021 to July 02, 2022 (1.3% growth) | NC was the 9th fastest growing state during that time | 9th largest state by population