INVESTMENT HIGHLIGHTS VALUE-ADD MULTI-TENANT INDUSTRIAL PROJECT IN INFILL SACRAMENTO LOCATION * 97% leased with in-place rents approximately 11.2% below market, allowing for significant upside through tenant renewals. * The Property includes 22 tenants spread across four buildings with suites averaging 1,400 SF. NOI is projected to grow 33% in the first five years of ownership. * Short WALT of ±1.23 allows rents to be marked quickly to market. This significant upside is balanced by the fact that the largest tenant, Sierra Shower Door (15% of GLA), just signed a 5-year renewal. * Minimal office buildout (±5%) and oversized 10’ x 14’ roll-up doors on every suite. The property is situated on a main street with easy access to the I-80 freeway. STRONG MARKET FUNDAMENTALS THAT SUPPORT UPSIDE * The incubator industrial segment of the market is outperforming the overall market. The overall Sacramento industrial market (194M SF) has a low vacancy rate of 4.9%, but the incubator segment (10.25M SF) has a vacancy rate of only 2.8%. * Average rents for incubator industrial properties in Sacramento were $1.01/SF/month NNN as of Q1 2024. Smaller industrial properties between 4,000-50,000 SF have experienced 8.5% annual rent growth over the last six years. * The Property sits within the I-80/Roseville Road Submarket, which has the second highest amount of incubator industrial space in the region (1.3M SF), one of the lowest vacancy rates (2.5%) and the highest average asking rents ($1.33/SF/month NNN).