Convenience-Based Retail Asset with Excellent History of Performance

• Ideal mix of food & beverage, medical, service, and convenience retailers
• Average tenant tenure is an impressive 12+ years, showing stickyness of the rent roll and submarket
• Strong WALT of over 5 years

Value-Add & Parcelization Strategy

• Under market rents provide surety of future cash flow and value-add mark-to-market opportunities
• Two seperate tax parcels allowing for bifurcated sale at a later date

Located in Virginia Beach's most dense submarket with excellent fundamentals

• Population of over 252,000 in a 5-mile radius with AHHI of almost $110,000/year
• Only 24,000 SF of new retail has been delivered to the submarket over the last 8 years, which has helped rents outpace the larger MSA by almost 20%.
• Rents expected to grow another 13% through 2029

Dominant Retail Development and Shadow Anchors

• Surrounding national tenants are generally #1 or #2 within 15-miles, and ranked in the top 90th percentile in the state
• The larger Salem Crossing shopping center draws over 6M visits per year, ranking it a top 98th percentile shopping center in VA
• Walmart (shadow anchor) holds the #2 market share leadership position of grocery sales in Hampton Roads