Powell Center

Stabilized Unanchored Strip Center with Upside Potential

• Average in place rent of $15.60/sf, which is 30% below submarket asking rent
• 33% of GLA does not have fixed rate contractual renewal options
• Ability to purchase adjacent land parcel between center and Grace Drive (separate from collateral)

Affluent Demographics with Positive Population Growth

• 6% Increase from 2019-2024
• AHHI is $234k within a 3-mile radius

Recent Capital Expenditures

• Ownership has invested over $3M in tenant capital and physical capital improvements including building improvements, updated HVAC & electrical, and improvements to the parking lot and walkways

Exceptional Leasing Momentum | Nine (9) New Leases Across 23,300 SF (59% of GLA) Over Past Three Years

• Ownership has converted the entire asset to NNN during hold period (previously less than 50% of GLA)

Strong Trade Area With Multiple Demand Drivers

• Powell Center is strategically located just east of downtown Powell along Olentangy Road (VPD: 12,557) and is short proximity from national retailer and local demand drivers

Local Market Expertise: Andy Dutcher (andrew.dutcher@jll.com)