Firestone | Interstate Location

Investment Highlights

“A” RATED INVESTMENT GRADE TENANT
• The lease is guaranteed by Bridgestone, parent company of Firestone, which is the world’s largest manufacturer of tire and rubber products.
• Bridgestone/Firestone has an investment grade credit rating of “A” by S&P, giving it the highest credit rating in the auto-service sector.
• Founded in 1900 Firestone is a wholly owned subsidiary of the Bridgestone Retail Operations, LLC, which has four retail brands and over 2,200 locations nationwide.
• In 2018, Bridgestone (NYSE: BRDCY) had revenue in excess of $33.1 billion and ranked #365 on the Fortune 500 list.

NEW 15 YEAR CORPORATE NNN FIRESTONE
• New 6,262 SF Firestone with 7 service bays that is scheduled to deliver in October 2024.
• The subject property has a 15-Year lease guaranteed by Bridgestone Retail Operations, LLC (Corporate).
• The lease is absolute NNN and the tenant is responsible for all taxes, insurance, CAM, roof and structure.
• There are attractive 5% rental increases every 5 years during the initial lease and each of the five, 5-year option periods.

OUTPARCEL TO TOP PERFORMING RELOCATION FOOD CITY (TOP 98% IN THE COUNTRY)
• This Firestone is an outparcel to the #1 performing Food City in Virginia and ranks 3rd out of 129 Food Cities in the country according to Placer.ai (Top 98%).
• The Food City was built in 2019 and is a relocation of an former Food City in Abingdon, VA.
• Food City was a part of a 30 acre development that included several other retail outlets, restaurants and hotels. The property was originally part of a 70 acre parcel. The remaining 40 acres were donated to the Town of Abingdon to construct a new sports complex.
• This private development investment cost $30 million and the project included nearly 191,150 square feet of new retail, office, and hotel space.
• The project represents approximately 688 jobs, 300 of which are new jobs created as a result of the development.
• The development included significant road improvements to the Exit 17 area. Cook Street and Green Springs Road are now part of a four-way controlled intersection which as improved traffic flow.

ACROSS FROM THE MEADOWS SPORTS COMPLEX
• The Meadows is a new construction Sports Complex that is approximately 34 acres, and is a state of the art sports facility and community park, located in downtown Abingdon, VA.
• The complex offers 4 baseball fields, 3 soccer fields, a bike trail, a walking track, and direct access to the Virginia Creeper Trail.
• In total, the Meadows included $40 million in private investments and created 300 jobs.

INTERSTATE LOCATION (52,000 VPD)
• The subject property is located off interstate 81 (52,000 VPD).
• I-81 circumvents major metro areas to connect smaller and mid-size cities from Tennessee to the New York/Canadian Border.
• It is the primary north-south freight corridor along the eastern part of the US, handling more truck traffic than I-95 does south of Washington, DC.
• Nearly 50% of the state’s value of goods are transported along the corridor, which has the highest per capita truck volume in Virginia.