Wender Plaza San Antonio, TX

Grocery Anchored: The Property is anchored by leading necessity-based grocer, Sprouts Farmers Market (NASDAQ: SFM), which has over 430 stores throughout 24 states and planned store growth of 10% annually. In recent years, Sprouts has continuously achieved significant new store growth, increased in-store traffic and e-commerce sales, streamlined operations and has reported exceptional Q1 - Q3 financials with an overall outlook for fiscal 2024 net sales to increase by approximately 12.0%. Further, Sprouts has experienced explosive stock market price growth in excess of 800% within the last five years. Sprouts is situated within their preferred footprint at an incredibly attractive rent. They also boast an impressive $749 per square foot in sales* at Wender Plaza, ranking 2nd in the state of Texas for sales per square foot.

New Leases with Rental Escalations: The Property’s underlying value is bolstered by a strong lineup of best-in-class tenants including multiple restaurants and neighborhood influenced, service-oriented retailers. All tenants are on new leases with structured rental increases and multiple renewal options. The leases are underpinned by experienced retail and hospitality operators with proven track records in their respective categories and the Property benefits from a weighted average lease term of 9.66 years.

Top Real Estate Market: With one of the nation's more resilient office markets, San Antonio is an industry hub for cybersecurity, advanced manufacturing, life sciences and health, and is among the fastest-growing metros in the U.S. today. Currently the third largest MSA in Texas, San Antonio's robust job market and affordable housing continues to attract new residents from across Texas and neighboring states, adding more than 22,000 residents in 2023 alone and leading the nation in population growth from domestic migration. As such, the Property is located within a high growth area and is expected to benefit from a population growth of 8% over the next five years, which mirrors the 7% growth the immediate area has experienced since 2020.

Prominent Retail Location: PROMINENT RETAIL LOCATION Positioned at the intersection of Texas 151 and Hunt Lane, the Property is highly visible and accessible to a combined 142,700 cars per day. The Property also benefits from its close proximity to two of San Antonio's dominant thoroughfares - Loop 410 and Loop 1604 allowing easy access to a large secondary market of 746,000 people within a 15-minute drivetime.

High Quality, New Construction: The newly constructed center, built by a highly experienced retail developer and underpinned by a sophisticated lineup of national and regional tenants, provides a low maintenance investment with reliable long-term cash flow. Further, the center’s modern design aesthetic and high parapet walls ensures it will have a enduring appeal to both tenants and consumers.