Investment Highlights

NEW 10-YEAR CORPORATE NET LEASE TO CAVA WITH VERIZON CORPORATE IN LAST OPTION PERIOD
» 100% leased multi-tenant “Amazon-proof” assets with scheduled rental increases
» Verizon (NYSE, Nasdaq: “VZ”), generated revenues of $136.8 billion in 2022
» Verizon has approximately 117,000 employees as of 2022 and is one of the three largest telecoms operators in the U.S.
» CAVA is modeled after Chipotle and owned by CAVA Group, which also owns Zoës Kitchen, making the combined company the largest restaurant operator in the Mediterranean category in the U.S. restaurant industry
» CAVA (NYSE: “CAVA”) has a current market cap of $5.99 billion

TROPHY LOCATION IN AFFLUENT BIRMINGHAM SUBURB
» High-visibility and easily accessible location at the northwest corner of John Hawkins Parkway and U.S. Route 31/Montgomery Highway (61,341 AADT)
» Trophy location near the confluence of major U.S. thoroughfares, including Interstate 459 and Interstate 65 (combined 234,626 AADT), flowing major commuter traffic directly to the site
» 126,882 residents live within five miles of the property, providing a large and reliable customer base for the site
» Extremely affluent average annual household income of $129,672 within a five-mile radius
» Projected population and income increases within a five-mile radius over the next five years poise CAVA, Verizon, and Hoover for steady concurrent growth

POTENTIAL NEAR-TERM UPSIDE WITH VERIZON BUILDING
» Trophy location outparcel to Riverchase Galleria, which features 156 stores and is the 43rd largest mall in the U.S.
» Beneficial proximity to major community hubs and employers, including an AT&T Data Center (1,500 employees) and Patton Creek Shopping Center (44 stores, 600,000-SF open-air lifestyle center)
» Excellent proximity to major national tenants such as Costco, The Home Depot, Sam’s Club, Best Buy, PetSmart, Office Depot, Chick-fil-A, and many more
» 11 miles from Downtown Birmingham, the most populous city in Alabama (209,403 residents), allowing the site to capture immense commuter traffic

Property Description

» Highly Attractive Amazon-Proof Retail Asset: This 100% leased multi-tenant asset has an extremely high-visibility and easily accessible location at the northwest corner of John Hawkins Parkway and U.S. Route 31/Montgomery Highway (61,341 AADT)
» Prime Outparcel Location in Prominent Shopping Center: The property is ideally located near the confluence of major U.S. thoroughfares, including Interstate 459 and Interstate 65 (combined 234,626 AADT), flowing major commuter traffic directly to the site
» Excellent Visibility and Easy Access Near Major Interstates: This multi-tenant asset is a trophy location outparcel to Riverchase Galleria, which features 156 stores and is the 43rd largest mall in the U.S.
Large Surrounding Retail Presence: Ideally set in a large retail corridor, the property is surrounded by notable tenants such as Costco, The Home Depot, Sam’s Club, Best Buy, PetSmart, Office Depot, Chick-fil-A, and many more, creating significant crossover shopping
» Strong Customer Base and Ideal Position in Hoover: 126,882 residents live within a five-mile radius of the site with an extremely affluent average annual household income of $129,672, providing an extremely large and reliable customer base for the property
» Projects to be Strong Retailer for Years to Come: Projected population and income increases within a five-mile radius over the next five years poise CAVA, Verizon, and Hoover for steady concurrent growth