Volunteer Crossing

Investment Highlights

VOLUNTEER CROSSING
• The subject property is a 100% oc cupied, 64,981 SF retail center located in the Tri-Cities region of Tennessee
• The center is anchored by a consistently high performing Big Lots (NYSE: BIG) and Rent-A-Center (NASDAQ: RCII)
• Total Percent of GLA: 66%
• Average Tenant Tenure: 25 Years
• This offering presents an opportunity for investor to buy a fully stabiliz ed asset with credit tenants that also contains value-add/upside components
• Priced well below replacement cost: $42.40/SF
• Average Rent: $3.57/SF

BIG LOTS | STRONG PERFOMANCE
• The shopping center is anchored by Big Lots (57.71% of GLA), a credit rated tenant reporting $6.15 Billion in 2021 revenue
• Big Lots has been in operating in this location f or 30 years and just recently confirmed its long term strategy at this location b y executing a new 10-Year lease extension
• The tenant has noted that this location has c onsistently ranked as the #1 or #2 performer in the region for many years
• Currently ranks #2 of 6 Big L ots locations in a 30 -Mile radius (Placer.ai)
• Top 30% location in Tennessee (Placer.ai)
• 2022 Sales: $2,797,506 | 4.96% Rent to Sales

RENT-A-CENTER | STRONG PERFORMANCE
• Rent-A-Center (8.31% of GLA), is a cr edit rated tenant reporting $4.58 Billion in 2022 revenue
• Rent-A-Center has been in operating in this location f or 20 years and just recently confirmed its long term strategy at this location b y executing a new 5-Year lease extension
• Rent-A-Center’s sales has increased by an average of 14% each year since 2018
• 2022 Sales: $890,607 | 5% Rent to Sales
• 2021 Sales: $788,498
• 2020 Sales: $686,848
• 2019 Sales: $603,167
• 2018 Sales: $512,954

STABLE INCOME WITH VALUE-ADD COMPONENT
• The 66% of the center is comprised of Big Lots & Rent-A-Center boasts low risk stability, with 25+ years of average tenure and a weighted average lease term remaining of 8.12 Years
• The remaining 34% of the GLA is c omprised of Premier Estate Sales, Bristol Wrestling Club, and Fabric etc.
• The average rental rates for these tenants is $2.17/SF. Bristol Wrestling Club pays $0.82/SF
• These tenants are on gross leases and do not r eimburse for expenses
• This presents upside in 34% of the shopping c enter to grow the rents to market and collect NNN reimbursements as each of these tenants will have leases expire the next 3 years.

STRATEGIC LOCATION WITHIN MARKET
• Volunteer Crossing is well located in a retail corridor of Bristol, TN
• The shopping center has access points from 3 different roads, including the major thoroughfare of Volunteer Parkway (20,245 VPD) which connects through the city of Bristol
• Additional Access Points/Visibility from Bluff City Highway (7,270 VPD) and Cox Street
• Outparcels for the center include Taco Bell, McDonoald’s (Across the street), Sonic, and the UPS Store
• Other Retailers on the Volunteer Crossing Retail Corridor: Lowe’s Home Improvement, Food City, Aspen Dental, CVS, Advance Auto Parts, Autozone, Take 5 Oil Change, O ’reilly Auto Parts, Wendy’s, Arby’s, Burger King, Hardee’s, IHOP, Subway, Bojangles, Papa John’s and more