Old Bakery Place

•Food City is a Regional Grocery Operator with 159 locations across 5 states

•Food City has term until 2030 with 3, 5-year options

•Corporate-Guaranteed Lease

•25 years of Operating History at the Center

•Strong health ratio for Food City at less than 1.7%

•Food City sales have 27% since 2020

Long-Term Tenant Operating History

•85% of the GLA is occupied by tenants with over 15 years of operating history at the center

Stabilized with Future Leasing Upside

•No small shop tenants have renewal options

•97% occupied 

•5 small-shop tenants rolling in the next 18 months, provides ability to push rents and increase national presence

•Organic Rent Growth with Food City and Osaka Japanese future rent increases

Well-Balanced, Internet-Resistant Tenant Mix

•Tenant mix heavily weighted toward grocery retail, service, dining, health, and education uses, driving repeat visitation

•Minimal exposure with every tenant being irreplaceable by e-commerce platforms

Assumable Financing

•3.875% interest rate on assumable loan

•Life Co lender

•Maturity 10/1/2030

Prime Bristol Retail Corridor

•Located along the strongest retail corridor within the Bristol market

•Food City is One of just Two Grocery stores within a 4-mile radius