Investment Highlights

100% LEASED MULTI-TENANT RETAIL ASSET WITH STRONG CORPORATE LEASES
» Corporate leases to national retailers
» New long-term leases for both tenants
» Scheduled rental increases, providing a hedge against inflation
» FedEx (NYSE: “FDX”) is one of the top contractors of the U.S. government
» Sleep Outfitters USA, LLC is a newly-formed entity that purchased Innovative Mattress Solutions in January of 2019 – the company is a wholly owned subsidiary of Tempur Sealy International which operates approximately 100 Sleep Outfitters locations
» Irreplaceable building deliverable at replacement cost
» FedEx has been in this location since 1996 and Sleep Outfitters since 2010, demonstrating a long-term commitment and success at the site

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» 123,303 residents within a five-mile radius of the property, providing a large customer base for the location
» High-visibility location on Galleria Circle and John Hawkins Parkway (29,060 AADT)
» Central location at the confluence of highly trafficked Alabama thoroughfares, including Galleria Boulevard, U.S. Route 31/Montgomery Highway, and Interstate 459 (combined 193,217 AADT)
» Average annual household income of $114,107 within a one-mile radius of the site
» Projected 10 percent average annual household income increase within a five-mile radius of the property in the next five years, poising FedEx Office, Sleep Outfitters, and Hoover for significant concurrent growth

CENTRAL LOCATION NEAR MULTIPLE TOURIST ATTRACTIONS, RETAILERS, AND COMMUNITY HUBS
» At one of the entrances to Riverchase Galleria, one of the largest shopping centers in the Southeast and Alabama’s top tourist attraction, with 15 million visitors per year
» The Riverchase Galleria complex features over 200 retail stores, the Birmingham region’s only Costco, a 15-story Hyatt Regency hotel, and the 17-story Galleria Tower office building
» Beneficial proximity to significant new retail and residential developments, including the 339-acre expansion of the Trace Crossings housing community
» Gateway to Downtown Birmingham, the most populous city in Alabama (population 209,403)

Property Description

SOLD

The property has an easily accessible location on Galleria Circle, just off of John Hawkins Parkway, with visibility and access to 29,060 AADT. The site maintains a central location at the confluence of highly trafficked Hoover thoroughfares, including Galleria Boulevard, U.S. Route 31/Montgomery Highway, and Interstate 459 (combined 193,217 AADT). The property is located in an extremely affluent area, with an average annual household income of $114,107 within five miles of the site. The property benefits from its location in a populous area, with 123,303 residents living within a five-mile radius of the property. With a projected 10 percent average annual household income increase within a five-mile radius of the property in the next five years, FedEx Office, Sleep Outfitters, and Hoover are poised for significant concurrent growth.

The property benefits from its central location near multiple large employers, retailers, and community hubs. Visibility is increased by the property’s location at one of the entrances to Riverchase Galleria, one of the largest shopping centers in the Southeast and Alabama’s top tourist attraction, with 15 million visitors per year. The Riverchase Galleria complex features over 200 retail stores, the Birmingham region’s only Costco, a 15-story Hyatt Regency hotel, and the 17-story Galleria Tower office building. Significant development is also happening near the property, with construction on the 339-acre expansion of the Trace Crossings housing community underway. The property serves as a common gateway to Downtown Birmingham, the most populous city in Alabama (population 209,403).