EXECUTIVE SUMMARY

• TJ MAXX, HOMEGOODS, AND BURLINGTON ANCHORED COMMUNITY CENTER – Long-Standing Anchor Tenancy – Recent Extensions – Long-Term Commitments | Strong Leasing Momentum | Brand New 10-YR Leases with Burlington & Boot Barn | Regional Shopping Location
• Pine Tree Plaza features 5 long-standing anchor tenants (TJ Maxx, Michaels, Old Navy, Petco, and Famous Footwear) that have each been at the center for 20+ years. Each of these tenants has exercised multiple renewal options, most recently each having executed an extension in 2019 – additionally the center features HomeGoods that executed a 10-year lease in 2019. Pine Tree Plaza continues to experience strong leasing momentum with the recent additions of Burlington and Boot Barn on brand new 10-year leases, highlighting the desire from national tenants to be at this premier regional shopping destination.
• ±69% of the Gross Revenue is comprised from TJ Maxx, HomeGoods, Burlington, Michaels, Old Navy, Petco, Boot Barn and Famous Footwear
• Strong Tenant Performance – Very Healthy Tenancy | TJ MAXX 2024 Sales = $11,938,317 (3.19% Occupancy Cost).
  • TJ MAXX– $11,938,317 (3.19% Occupancy Cost)
  • U.S. CELLULAR– $1.90M (2.8% Occupancy Cost)
  • COZUMEL MEXICAN– $2.00M (2.67% Occupancy Cost)
  • COLD STONE CREAMERY– $639K (6.5% Occupancy Cost)
  • OLD NAVY– $2.77M (6.8% Occupancy Cost)
  • ZOIA SPA & SALON– $1.26M (8.3% Occupancy Cost)
  • FAMOUS FOOTWEAR– $1.35< (8.7% Occupancy Cost)
• ±90K VPD – Ideal Location at Highly Trafficked Interchange: Pine Tree Plaza is ideally located in the heart of the retail corridor located at the hard corner of the main interchange in the market with direct access and excellent visibility off I-90 (60,000 VPD) and State Rt 14 (27,000 VPD). The Property features convenient ingress/egress with a signalized entrance off Deerfield Drive (9,000 VPD) and multiple other access points
• Best in Class Shadow Anchors + Traffic Drivers: The Property benefits greatly from the best-in-class shadow anchors in the immediate vicinity that help drive additional traffic to the center on a daily basis including Aldi, Home Depot, Best Buy and Starbucks, with Walmart, Sam’s Club and Menard’s nearby.
• Desirable Demographics – 5-mile Population: 66,000. AHHI: $76,000: The Property benefits from desirable demographics in the surrounding area, featuring more than 65,000 residents within a 5-mile radius boasting average household incomes of nearly $76,000.
• $12.56 PSF ANNUAL BASE RENT: Being Offered Well-Below Replacement Cost
• MINIMAL DEFERRED MAINTENANCE – ALL ROOFS UNDER WARRANTY THRU AT LEAST 2034