The 237,000 SF building, constructed in 2015 for Shutterfly, features top-tier finishes and state of-the-art infrastructure tailored to support Shutterfly’s advanced production and office operations. In February 2024, Shutterfly signed a 10-year renewal, demonstrating their long-term commitment to the Property. Founded in 1999, Shutterfly, Inc. is a dominant force in digital photo services and custom printing. The company’s business model is built on high customer retention and recurring revenue, making it a financially resilient tenant with significant future growth potential. Shutterfly continues to expand and reinforce its leadership position in the eCommerce and digital photo industry. The fully NNN lease structure minimizes landlord responsibilities, offering a truly passive investment opportunity with consistent, predictable returns. Strategically located within the Discovery Business Campus in Tempe, the Property benefits from exceptional visibility and accessibility, with 151,000 cars per day passing along Loop 101 and immediate connectivity to major freeways, including I-10, US-60, and South Loop 202. As one of the last remaining large-scale developable sites in Tempe, Discovery Business Campus is home to a growing roster of Fortune 500 companies, including Amazon, GoDaddy, Microsoft, and State Farm. The Property also offers superior fiber connectivity with multiple Tier 1 providers, ensuring best-in-class technology infrastructure for high-performance operations. INVESTMENT THESIS Shutterfly at Discovery Business Campus presents a premier industrial investment opportunity, driven by its strategic location, best-in-class property features, and strong market fundamentals. With a 100% NNN lease in place through June 2035, this asset provides investors with a reliable, long-term income stream.