3725 Airport Boulevard, Mobile, AL 36608

Value-Add Investment Opportunity: Stability of 7.0 YR WALT with Upside

■ 132,334 SF upside leasing opportunity, 65.7% leased with strong existing income.

■ 94% NOI Upside: Well capitalized new owner convert demand for vacancy to occupancy.

Impressive Anchor Draw

■ New Restaurant Depot 35,000 SF LOI Converting to Lease.

■ Academy Sports, America’s Thrift Store, Guitar Center, and Salons by JC.

■ Shadow-anchored by the Home Depot.

Reposition or Redevelop Land Play Opportunity

Large and versatile 44.42-acre site, with strategic large pockets of vacancy, allows

a covered land play redevelopment opportunity, and/or sell off portion of center and

spike returns by lowering basis. Well-capitalized investor has ability to command

immediate leasing upside once out of Receivership.

Core of Destination Retail Market Location

Ideally situated at a high-profile location within the center of Mobile’s established

retail market validated by Costco, Walmart & Home Depot.

Exceptional 7.0 Year WALT

■ Academy Sports + Outdoors (84,464 SF) - Extended for 5 years.

■ Accel Academy - 9.9 years remaining on Lease.

■ Restaurant Depot - 10 Year LOI converting to Lease

Convenient Expressway Access for Trade Area

■ High-profile I-65 / Airport Boulevard interchange provides access to an

expanded trade area, drawing customers from across Mobile.

■ West Mobile is renowned destination location for shopping in the greater MSA.

Demographics of Affluence - Expanded Trade Area

■ 3 Mile Radius AHHI: $81,554 / 5 Miles: $76,675

■ 3 Mile Radius: Population 68,150 / 5 Miles: 165,720

Strong Placer.ai Metrics & Local Retail Market

■ 1.9 million visits per year. Ranks #2 of 6 Community Centers in a 5-mile radius.

■ West Mobile Submarket: 91% Occupancy.

Covered Land Play

Redevelopment Optionality Within 44.42 Acres

■ $1.88 Million of existing durable NOI, unlock further