Norterra Pkwy & Happy Valley Rd, Phoenix, AZ 85085

INVESTMENT HIGHLIGHTS

• Brand-new construction with long-term leases to tenants with an established presence in the market, including CAVA, Shake Shack, First Watch, Tropical Smoothie Café, and Firebirds Wood Fired Grill

• Strong scheduled rental escalations throughout the initial lease terms and option periods

• Retail component of new mixed-use lifestyle development Union Street at Norterra

• 100% occupied retail with five complementary tenants, eliminating lease-up risk and providing stable income from day one

• Phase II of Union Street development includes future multi-family and a future grocer, drawing consistent traffic to the shops

• Multiple tenant leases include percentage rent provisions, providing upside potential through additional income tied to future sales performance

LOCATION HIGHLIGHTS

• Conveniently located off Interstate 17 with over 145,000 vehicles per day

• Immediately adjacent to new dual-branded AC hotel by Marriott and Element by Westin (four stories with ±277 short-stay and long-stay rooms), providing consistent customer flow to current tenant base

• Strategically located in a mature, high-performing shopping and dining corridor anchored by a key regional retailers and restaurants

• Norterra is one of Phoenix’s fastest-growing areas, driven by major commercial developments, including the new $165B+ TSMC Semiconductor Plant, the largest foreign direct investment in U.S. history and an employment generator bringing ±6,000 direct manufacturing jobs and another ±20,000 total unique construction jobs, and tens of thousands of indirect jobs in this decade

• Affluent demographic profile with over 156,000 people within 5 miles and an average HH income exceeding $144,000 within 3 miles, representing substantial purchasing power and consumer spending capacity