321 BATTLEFIELD BLVD S Chesapeake VA 23322-5311

KLNB Retail Capital Markets is pleased to offer for sale a corporately guaranteed Walgreens pharmacy operating under a newly executed 15-year absolute triple-net (NNN) lease. Walgreens has occupied the site for over 23 years and reaffirmed its long-term commitment with a lease renewal in December 2023, providing investors with a truly passive, hands-off investment. The property is located along the major retail corridor of South Battlefield Boulevard, benefiting from strong visibility and traffic counts exceeding 32,000 vehicles per day. With the recent closure of a nearby Rite Aid, Walgreens is now the only freestanding national pharmacy within a 2.8-mile radius, significantly limiting competition. Strong surrounding demographics further support the offering, including an average household income of $143,881 and a population of 67,500 residents within a three-mile radius—an 11% increase since 2010—with continued growth projected through 2030.

CORPORATELY GUARANTEED, LONG-TERM ABSOLUTE TRIPLE NET (NNN) LEASE

• Walgreens executed a brand new, long-term 15-year lease in December of 2023, displaying their long-term commitment to the market

• Absolute Triple Net (NNN) Lease with no landlord responsibilities; tenant is responsible for all expenses and maintenance/management of the real estate offering a true hands-off investment opportunity

• Walgreens was acquired by Sycamore Partners, a private equity firm with expertise in retail turnarounds, in an approximate $10B deal that closed in August of 2025, in which Walgreens was valued at up to $23.7B

• Walgreens is regularly among the largest American companies by revenue, and was ranked #26 on the 2025 Fortune 500 list

LONG-TERM HISTORICAL OCCUPANCY OPERATING WITH MINIMAL COMPETITION

• Walgreens has been a tenant at the subject location for over 23 years

• With the recent closing of Rite Aid across the street, Walgreens is the only freestanding, national pharmacy, within 2.8 miles of the property, offering services to a dense and captive audience but also limiting risk of competition

• Long term occupancy coupled with the new lease as of 2023, reinforces Walgreens commitment to the site

• Per Placer.ai the property sees 203,000 annual visits, an increase year over year

LOCATED ALONG THE MAJOR RETAIL CORRIDOR OF SOUTH BATTLEFIELD BOULEVARD AND SURROUNDED BY STRONG PERFORMING RETAILERS AND CENTERS

• Positioned along highly trafficked, and retail corridor, of South Battlefield Boulevard with easy access to major roadways

• South Battlefield Boulevard sees robust traffic counts of over 32,000 vehicles per day (VPD)

• At the intersection of S. Battlefield Boulevard and Mt. Pleasant Road, a feeder to the Chesapeake Expressway (Route 168), Walgreens is located less than 0.8 miles from the off ramp of this major state highway and the primary connector roadway to North Carolina that sees over 77,000 VPD

• Adjacent to the strong performing, Kroger anchored, Great Bridge Shopping Center which sees 2.6 million visitors annually, per placer.ai, ranking in the top 90th percentile amongst all neighborhood centers in Virginia, and top 91st percentile within a 15-mile radius, allowing Walgreens to benefit from a healthy cross-shopping environment

LARGE PARCEL WITH HIGH RESIDUAL VALUE AND MULTIPLE POINTS OF INGRESS AND EGRESS LOCATED IN A DEVELOPING CORRIDOR

• Walgreens sites on a 1.62-acre parcel that is oversized and offers an investor high residual value in their investment

• The parcel has two points of access, one from Mt. Pleasant Road off Woodford Drive and one directly off S. Battlefield Boulevard

• A brand-new Chipotle was developed across the street, on the site of a former bank branch, showing demand from national retailers to be along this stretch of the corridor and pointing to the lack of available space to develop in the submarket

STRONG SURROUNDING DEMOGRAPHICS POINT TO A DENSE SUBMARKET THAT IS GROWING AND AFFLUENT

• Average household income of $143,881 with income and population expected to grow 1.86% and 0.36% annually through 2030 within a 3-mile radius

• 67,500 residents within a 3-mile radius, an 11% increase from 2010

• Insulated consumer base with 2,350 homes within a one-mile radius of the property, making Walgreens the most convenient pharmacy option for nearby residents