Walmart Shadow Center

Investment Highlights

WALMART SHADOW CENTER | CLEVELAND, TN (CHATTANOOGA MSA)
• 45,079 square foot Walmart shadow-anchored retail center in one of the largest cities apart of the Chattanooga MSA
• High-performing Walmart Supercenter alongside national credit tenants like Dollar Tree, Petsense(Tractor Supply Guaranteed), Cato, Verizon, and One Main
• Balanced mix of national brands and service-oriented tenants supports daily needs visitation and consistent occupancy in a value-oriented trade area
• Center has proven long-term operators and strong Placer.ai performance

STRONG WALMART SHADOW CENTER DOMINANCE | EXCELLENT TENANT FOOT TRAFFIC WITH LONG-TERM OPERATING HISTORY
• This Walmart Shadow Center sees 3.08 million visits annually and is ranked #2/18 shopping centers in a 15 Mile radius (Placer.ai)
• Anchored by Dollar Tree and Petsense (lease executed by Tractor Supply) plus an inline credit mix (Cato, Verizon, One Main), this center has proven tenant stability with over 50% of the center having been there for 18-20+ years
• Clear leasing momentum with five recent new leases (Urgent Care, Euro Gem, Smokin’ Hot Vape Shop, Lox ‘N Irons Salon, & S Lucky Spa)
• Average tenant tenure of 16+ years, demonstrating sustained performance and location relevance

STRONG PLACER. AI PERFORMANCE FOR MULTIPLE TENANTS IN THE CENTER
• Verizon: 9/118 (top 7% statewide) | 757/5.1K (top 15% nationwide)
• Dollar Tree: 17/221 (top 8% statewide) | 1.3K/8.5K (16% nationwide)
• Cato: 13/49 (top 25% statewide) | 161/814 (top 20% nationwide)
• Great Clips: 36/104 (top 34% statewide) | 1.1K/3.8K (top 29% nationwide)
• Walmart: 45/198 (top 23% statewide) | 2.1K/7.5K (top 28% nationwide

MARK-TO-MARKET UPSIDE
• 100% leased center with stable income and potential future mark-to-market upside
from near-term rent rolls
• Weighted average in-place rent $15.88 PSF, 20% below the CoStar asking market rent
of $20.02 PSF

INTERCEPT POSITION ON DALTON PIKE/APPALACHIAN HWY-40 WITH COMBINED 50K VPD
• Signalized corner with direct frontage on Dalton Pike SE and immediate proximity to Appalachian Highway(32,000 VPD), a primary retail artery connecting Cleveland to I-75
• The Walmart shadow center is in Cleveland’s dominant primary retail cluster, featuring Walmart, Aldi, Walgreens, and Food City
• Limited competition in the area - Walmart’s 2.4M annual visits(Placer) dominate all other Grocers on this side of town
• Positioned near Interstate 75 - a major north-south logistics and commuter artery linking Cleveland to Chattanooga, Atlanta, and Knoxville

CLEVELAND MARKET | BROADER CHATTANOOGA MSA | 11M + ANNUAL TOURISM IMPACT
• Cleveland serves as the primary retail hub for Bradley County and the surrounding trade areas within the Chattanooga MSA extension
• Chattanooga MSA is a growing mid-sized metro serving a trade area spanning across Southeast Tennessee, Northwest Georgia, and Northeast Alabama
• The region benefits from a diversified employment base spanning advanced manufacturing, logistics, healthcare, tourism, and corporate services
• Major regional employment drivers include Whirlpool, Mars Chocolate (M&M’s/Twix), Duracell, Wacker Chemie, & Peyton’s Southeastern, plus Bradley Medical Center and regional commuters to and from Chattanooga
• Continued industrial expansion and commuter connectivity to Chattanooga support long-term necessity-based retail demand
• Chattanooga attracts more than 11 million annual visitors and generates more than 1.8 billion in visitor spending