• Irreplaceable Core Location on State Street – the Main Corridor Linking Both Downtown Madison & UW-Madison Campus o 0.1 miles from Greek Row and Memorial Library, 0.5 miles from Bascom Hill and the Wisconsin State Capitol, and 1.2 miles from Camp Randall Stadium o First marketed retail investment opportunity of scale in 10 years on State Street! • Value-Add Opportunity - Urban Outfitters Rolls in 2029 and is +/- 55% Below Market o Urban Outfitters expires in 2029 with no contractual renewal options, allowing the next investor optionality in re-tenanting the space or working through a lease renewal with the existing tenant o Urban is currently on a modified gross lease – opportunity to convert to an NNN lease upon 2029 expiration o 10%+ 5-year NOI CAGR • Record-Breaking University Demand – UW Madison – Tier 1, Power 5 University - 51K+ Enrollment o Enrollment has grown 13.8% over the last 5 years, with a 61% increase in applicants during the same period o UW-Madison ranked #5 most trafficked college campus in the Country, and #12 best public university nationally (U.S. News & World Report) • Premier Campus-Serving Tenant Mix Perfectly Captures Student Demographic & Provides Cash Flow Stability o Tenant income is +/- 53% Target, +/- 30% Urban Outfitters, and +/- 17% Potbelly o Additional revenue stream from two cell tower leases (AT&T and Verizon) with an additional cell tower lease spot available