1510 Covington Ave, Piqua, OH 45356

DOMINANT GROCERY ANCHOR

• Being anchored by a full-service Kroger offering pharmacy, The Little Clinic, Kroger Fuel, Starbucks and OHLQ Liquor Store creates consistent traffic to the center fulfilling the daily needs of the community. This diversification of services along with their continued improvements that have been made to the interior of the store demonstrate Kroger’s commitment to the location.

KROGER GROUND LEASE

• Kroger was responsible for all improvements made to their space and operate under a ground lease agreement with Kroger responsible for all repairs and replacement of their premises including roof, structure and HVAC.
• Kroger pays a well below market rent that should be easy to exceed in the rare case they vacate.
• Kroger has 10-5 year renewal options with rare rental increases in those option periods.

TENANT PERFORMANCE

• Kroger at Market Place experiences approximately 1.1 MM visitors per year. This ranks in the 44th percentile statewide and 62nd percentile nationally. This performance should give investors confidence that Kroger will not close the store at the end of their term due to poor performance or relocate to a larger Marketplace concept due to well above average performance levels.

LIMITED COMPETITION

• Sitting on the west side of I-75, which is the more densely populated portion of the market, Market Place has limited retailer competition for grocery, discount or automotive.

IMMEDIATE UPSIDE

• At 94% occupied, the Property provides stable cash flow to investors with immediate upside through lease-up of vacant space.
• Mark-to-market opportunities with six tenants operating with no renewal options.