RALEIGH MSA TAILWINDS

• Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
• Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
• Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)

STRONG CREDIT TENANTS

• AT&T (5,900+ locations) has a credit rating of BBB+
• Aspen Dental (1,000+ locations) B-
• Mattress Warehouse (300+ locations) is rated B+

ATTRACTIVE LEASE FUNDAMENTALS

• Each Tenant has signed a new 10 year lease
• All three leases have at least 2 x 5 year extensions left
• Each lease provides 10% rent increases every 5 years in base term and option periods

GREAT VISIBILITY AND ACCESIBILITY

• Multiple points of egress and ingress
• New construction strip center located on hard corner of a lighted intersection providing frontage on both Technology Dr & NC-42 (~32K VPD)
• Approximately a quarter mile to I-40 (67,500 VPD)

LOCATED IN LOW VACANCY RETAIL NODE

• 885K sqft of retail space in a 1-mile radius boasting a 1.1% vacancy rate
• Over 14K SF of absorption YoY
• Nearby retail tenants include: Walmart supercenter, Lowe’s Home Improvement, Food Lion, Walgreens, Dunkin Donuts

HIGH GROWTH AND AFFLUENT TRADE AREA

• 3.7% annual population growth in a 1-mile radius (2020 to 2024) with a forecasted 4.3% for the next 5 years
• AHHI exceeds $96K in a 1 mile radius providing a high discretionary spending