Investment Highlights

Grocery-Anchored Center Adjacent to The Woodlands in Houston MSA.120,459 SF neighborhood shopping center strategically positioned

at the signalized intersection of Sawdust Road and Budde Road,

immediately west of Interstate 45 in Spring, Texas.
Anchored by a 22,898 SF Gordon Food Service, one of North America’s

largest foodservice distributors with 185 locations nationwide

including 10 stores in the Houston MSA.
Prior ownership successfully redeveloped the former Randalls

grocery store into Gordon Food Service, Activate Games (corporately

guaranteed), and Hand Me Up Shop. Petco has anchored the center

since 1993.
Diversified tenant roster featuring 24 national, regional, and local

tenants, providing multiple traffic drivers and a stable consumer

draw.
Six-tenant outparcel building located at the center’s hard corner

intersection, benefiting from strong visibility, accessibility, and

exposure to daily commuter traffic.
Positioned within one of the Houston MSA’s most established

and affluent retail corridors, supported by strong demographics,

significant daytime population, and sustained residential growth.
Located less than one mile from the primary entrance to The

Woodlands, one of the nation’s premier master-planned communities.

Excellent Visibility and Access with Signage.62,042 vehicles per day at the intersection of Sawdust Rd. &

Budde Rd.
Signalized hard-corner location.
Five (5) access points.
Four (4) prominent, multi-tenant pylon signs.

Significant Mark-to-Market Opportunities & Compelling Rent Growth.Over 73% of existing tenants at Grogans Mill do not have renewal options or have FMV renewal options.
Currently 96.4% leased with only three (3) shop vacancies.
Average annual base rent of $17.00/SF is considered below prevailing market rents for comparable retail space within the surrounding trade area.
Projected 10-year cash flow model generates a compound annual growth rate (CAGR) exceeding 4.0% through organic rent growth and conservative lease rate assumptions.
Strong mark-to-market opportunity supports material NOI growth throughout the hold period.
Frontage outparcel offers additional upside.
Strong 15% recent weighted average renewal spreads:
Flying Pug Sports Pub: 3% & Julio’s Mexican Grill: 28%

Affluent Household Incomes and Dense Population.

Grogan’s Mill benefits from a dense, affluent trade area with daytime populations of 25,564, 92,056 and 214,592 within 1, 3 and 5 miles, respectively, and average household incomes of $102,196, $133,749 and $147,286 across those same radii.