100% OCCUPIED NEIGHBORHOOD RETAIL CENTER - LONG TERM TENANCY Four tenants and 62.14% of the income stream have occupied the subject property for over 10 years. David’s Bridal and Wide World of Golf have both been tenants for over 23 years. The rent roll’s long-term commitment highlights the stability and established consumer base drawn to the subject property. NEAR TERM UPSIDE – BELOW MARKET RENTS WITH MINIMUM FIXED RATE OPTIONS Six tenants including David’s Bridal, Wide World of Golf, Cookie Cutters, SFSE, Milan Laser (1 x 5-year FMV option), and Vapor Lounge will expire without options during the first five years of new ownership and are paying below market rents. REGION DOMINATING RETAIL DESTINATION The subject property is adjacent to Boise Towne Square Mall which draws traffic from a massive a 100.6 SqMi true trade area. Within a 0.5-mile radius, there is over 2.6 million SF of retail space including national retailers like Target, Home Depot, Cabela’s, Apple, Macy’s, Dillard’s, BestBuy, In & Out, McDonald’s and more. HIGH-TRAFFIC CORNER WITH EXCELLENT VISIBILITY The Shops on Emerald totals 33,097 SF and enjoys a prime position just north of the Boise Town Square Mall—one of Idaho’s top shopping destinations. The center benefits from strong regional traffic and solid trade-area fundamentals within the Boise MSA. INFILL CONSUMER BASE WITH SUPPORTING DEMOGRAPHICS The Shops on Emerald benefits from a large surrounding population of 235,421 within a 5-mile radius. The average household income within the same radius is $101,991. The subject property is just 3.9 miles southwest of Downtown Boise. SUPPLY CONSTRAINED WESTERN BOISE SUBMARKET Within a 3-mile radius, just 3.40% (388K SF) of the existing retail product (11.4M SF) has been built within the last 15 years, creating high barriers to entry. Positive net absorption has occurred in the Boise MSA every year since 2015, averaging 530,000 SF annually