* Dominant Multi-Building Portion – Promenade @ Mosaic is the most dominant retail portion in the Mosaic district and trade area given its size, tenancy, configuration, and location on three city blocks and four streets – Long Beach Boulevard, The Promenade, 3rd Street, and 4th Street * Value-Add Opportunity with Significant Upside Potential – At ±81% occupancy and given Ross Dress for Less’s significantly below market rent, this portion presents a legitimate short- and long-term value-add opportunity through vacant space lease-up and rolling Ross’s significantly below market rent to market levels * Well Below Market Rents – Rents are well below market levels – approximately 16% below market property-wide and Ross’s rent more significantly under market than that at approximately 64% below market * Significant Income Growth – Through lease-up of vacant space, embedded rental increases, and rolling below-market rents to market levels, the NOI is projected to substantially improve *The NOI is projected to grow by more than $1,345,000 (58%) upon stabilization (Year 3) and more than $2,901,000 (125%) over the anticipated 10-year hold period with a CAGR of ±8.5% *Assuming 100% occupancy at market rents including Ross’s rent, a Pro Forma NOI could exceed $8,500,000 – a 22%+ cap rate based on the current offering/list price