Investment Highlights

15-YEAR NET LEASE TO A STRONG GROCERY TENANT
» 15-year net lease with four (4) five (5)-year option periods
» 10% rental increases every five years, providing a hedge against inflation, including 10% increase in June 2025 increasing the yield to 5.23%
» Grocery Outlet is the nation’s largest extreme value grocery retailer, with more than 420 locations and over $3.1 billion in annual revenue
» Grocery Outlet plans to open 28 new stores in 2022, including 10 in the Mid-Atlantic as part of its East Coast expansion
» High-quality construction in an income tax free state completed in 2020

HIGH-VISIBILITY LOCATION ALONG U.S. ROUTE 50
» Located along Lincoln Highway/U.S. Route 50, with excellent visibility and access to 20,000 vehicles per day directly in front of the site
» Lincoln Highway/U.S. Route 50 is a major east-west thoroughfare connecting California to Maryland, providing a regular traffic stream for the property
» Population of 135,691 within 15 miles, creating a stable customer base
» High-income location with an average annual household income of $111,041 within a 15-mile radius
» Only Grocery Outlet within a 20-minute drive from the location, creating limited competition for the site
» Adjacent to a brand new McDonald’s and proposed Scooter’s Coffee

CENTRAL LOCATION NEAR DAYTON COMMUNITY HUBS AND ATTRACTIONS
» Grocery Outlet serves as the anchor to a brand new shopping center, attracting significant crossover shopping to the location
» Surrounded by a strong mix of local and national retailers, including McDonald’s, Starbucks, Pizza Hut, Taco Bell, Jack in the Box, O’Reilly Auto Parts, and many more
» Common gateway to Reno, a premier attraction in the casino and tourism industry (over five million annual visitors)

Property Description

» This Grocery Outlet is located conveniently along Lincoln Highway/U.S. Route 50, with excellent visibility and access to 20,000 vehicles per day directly in front of the site
» Lincoln Highway/U.S. Route 50 is a major east-west thoroughfare connecting California to Maryland, providing a regular traffic stream for the property
» The property is located in a populous and affluent area, with a population of 135,691 within 15 miles and an average annual household income of $111,041 within a 15-mile radius, creating a stable customer base
» Grocery Outlet will serve as the anchor to a brand new shopping center, attracting significant crossover shopping to the location
» The site serves as the only Grocery Outlet within a 20-minute drive from the location, creating limited competition for the site
» The property is a commonly traveled gateway to Reno, a premier attraction in the casino and tourism industry (over five million annual visitors)