INDIO PLAZA SHOPPING CENTER

GROCERY ANCHORED INVESTMENT OPPORTUNITY WITH ASSUMABLE FINANCING

● Neighborhood Grocery Anchored Shopping Center – 94% leased Food 4 Less anchored neighborhood shopping center, generating exceptional sales volumes, providing a “daily needs” draw and cross-shopping traffic to the offering
» Food 4 Less – Wholly owned subsidiary of Kroger Company, which has a market capitalization of approximately $45.67 billion, a revenue of $147.12 billion, an S&P rating of BBB, and 2,726 locations
● Strong Tenant Sales – Food 4 Less’s strong store sales of over $30.4 million, continue to demonstrate the demand for a grocery store in this trade area
● High Credit Tenancy – 70% of the GLA is leased to national or regional credit tenants, including: Food 4 Less (Kroger), dd’s Discounts (Ross Stores), Denny’s, Sally Beauty, Flame Broiler and Subway
● Attractive Assumable Financing – Assumable loan terms: $13,000,000 balance, 4.25% interest rate, currently interest-only until March 2027, and maturing February 2032. Property will be available with Assumable Financing or Market Financing.

STABLE INCOME STREAM, EXCELLENT VALUE OPPORTUNITY

● Below Market Rents, Strong Intrinsic Value – On average, CBRE estimates property-wide rents are approximately 8% below prevailing rates, including Food 4 Less currently paying $1.05 psf/month (12% below market rates), creating a lower basis in the property with strong intrinsic value and future rental upside
● Significant Income Growth – Due to lease up of the current 8,033 SF of vacancy, rolling tenants to market and embedded increases, the Net Operating Income is projected to increase more than $545,000 (28%) over the anticipated hold period, providing an excellent hedge against inflation
● Strong Historical Occupancy – Secure, established income stream – 4 tenants totaling ±64,250 SF (49% of the leased GLA) have occupied the property for ±25 years or more including Food 4 Less, Jelly Donut and Denny’s, demonstrating a recession resistant asset with high tenant demand