12995 S Cleveland Ave, Fort Myers, FL 33907

VALUE-ADD OPPORTUNITY WITH SIGNIFICANT RENTAL UPSIDE

Compelling mark-to-market opportunity with in-place rents averaging just $14.96 PSF, well below prevailing market rates of $30+ PSF (1st-floor retail), $20+ PSF

(2nd-floor retail), and $50+ PSF for executive office suites.

• 38% of GLA has no renewal options, creating near-term upside through lease-up and rent resets at market rates.

• Short 2.4-year WALT provides investors with the ability to rapidly capture rental growth and reposition the tenancy.

• The property is 88.5% occupied, with remaining vacancy intentionally curated to support a comprehensive renovation strategy.

• Ownership has strategically held select office suites vacant to allow for uninterrupted upgrades and repositioning.

• Renovations are underway with a clear objective of pushing office rents to $50+ PSF, driving meaningful NOI growth.

• Remaining vacancy represents immediate upside through lease-up at materially higher rental rates upon completion.

ATTRACTIVE DEAL METRICS & REDEVELOPMENT OPTIONALITY

• 76% of GLA leased on a NNN basis, minimizing landlord responsibilities and enhancing net cash flow.

• Large ±130,718 SF center situated on ±8.72 acres, offering substantial leasing flexibility and long-term redevelopment potential.

• Approximately 66% of GLA rolls by 2027, providing a near-term window to execute the value-add business plan.

• Limited competing vacancy in the surrounding submarket further supports lease-up velocity and rent growth.

• Potential to carve out and sell the Outback Steakhouse as a single-tenant net-lease (STNL) asset, capitalizing on its long operating history and strong

brand recognition.

• Medical building parcel sale optionality, providing the ability to sell the building to an owner-user or re-lease the space to another medical tenant at

market rates, creating multiple exit and income strategies.

DURABLE TENANCY WITH LONG-STANDING NATIONAL ANCHOR

• Anchored by Outback Steakhouse, operating at this location since 1991 (34+ years), demonstrating long-term site viability.

• Diversified mix of retail, medical, and office tenants supports consistent foot traffic, cross-use demand, and income durability

PRIME RETAIL CORRIDOR LOCATION:

• Located on S Cleveland Ave (US-41) with ±68,000 vehicles per day and just north of Daniels Parkway which sees north of 50,000 VPD.

• Pinebrook Park benefits from direct freeway visibility, signalized intersection access, and dedicated turn lanes at a corridor recording the highest traffic counts in Lee County.

• Situated in a targeted Cleveland Ave Redevelopment District, coded as a Brownfield and Enterprise Zone area, offering potential development incentives and city alignment.

• Multiple access points, including US-41, Big Pine Way, and Austin Street, support strong vehicular circulation and visibility across an 812 FT combined frontage.

• Positioned in a dense, highly trafficked retail hub surrounded by Publix, Costco, Target, Walmart, The Home Depot, and more.

• Less than 5 miles from downtown Fort Myers and major residential neighborhoods.

• Lee County’s economy is supported by over 13,500 Lee Health employees, Publix, FGCU, and retail firms, reinforcing demand for support services and convenience-retail.

DEMOGRAPHIC STRENGTH:

• Over 150,000 residents within a 5-mile radius with average household income exceeding $85,000.

• Located in one of Southwest Florida’s fastest-growing submarkets, fueled by population growth and strong in-migration trends.