RETAIL OFFERING | BEST-IN-CLASS PRODUCT | TROPHY, CHARLOTTESVILLE, VA LOCATION

3912-3929 LENOX AVENUECHARLOTTESVILLE, VA

EXECUTIVE SUMMARY

The OfferingCushman & Wakefield | Thalhimer is pleased to exclusively offer for sale, The Shops at Stonefield North (“the Property”) - the most recently completed phase of Charlottesville, Virginia’s premier lifestyle destination center. The Property consists of 36,271 square feet of newly constructed, best-in-class retail, shadow anchored by a high volume Costco location which drives significant daily traffic through the site. The subject Properties consist of two unanchored strip centers and three, single tenant, freestanding outparcels. The outparcels are corporately leased to BJ’s Brewhouse (NASDAQ: BJRI), Jared The Galleria of Jewelry (NYSE: SIG) and, Citizens and Farmers Bank (NASDAQ:CFFI). The Property benefits from its position within the highly amenitized, ±300,000 square foot Shops at Stonefield development which consists of a unique-to-market, high-end retail mix with complementary hospitality and residential uses. The asset is currently 91% leased with nearly ten years of weighted average lease term remaining and includes one remaining vacancy.

In addition to Charlottesville’s affluent demographic base, the area also draws from an expanded consumer trade area of over 50 miles. Home to the University of Virginia and a thriving outdoor tourism scene, the area benefits from a growing consumer base, with 2017 revenues exceeding $553 million from out of town visitors. Strategically positioned along Charlottesville’s primary commercial corridor Seminole Trail, (Route 29) at Hydraulic Road, the Property has multiple points of accessibility and exposure to over 89,000 passing vehicles per day and is easily accessible by major U.S. highway I-64. With its exceptional location, unbeatable market fundamentals and asset quality, the offering represents a unique opportunity to have an ownership interest in an institutionally developed, best-in-class power center with extremely high barriers to entry.

Shops at Stonefield NorthPROPERTY

3912-3929 Lenox Avenue Charlottesville, VA 22901

ADDRESS

36,271 SFTOTAL GLA

91.3%OCCUPANCY

Three (3) corporately leased single tenant outparcels and two (2) unanchored strip centers

COLLATERAL

2015 - 2018YEAR BUILT

Ten (10)NUMBER OF TENANTS

BJ’s Brewhouse Jared The Galleria of Jewelry

Qdoba Xfinity Mission BBQ

SIGNIFICANT RETAILERS

EXECUTIVE SUMMARY

THE REGION’S PREMIER, DOMINANT MIXED-USE DESTINATION – Institutionally developed, Class-A product positioned within the trade area’s leading

roster of high-end destination retailers

– The recently completed 254-unit Stonefield Commons Apartments, 104 single family townhomes and a 137-key Hyatt hotel complement the center’s retail components and help to push daily traffic at the site

– Shadow anchored by a high volume Costco driving significant daily traffic through the site

DIVERSE TENANT MIX – The Property is comprised of ten, largely e-commerce resistant retailers

complementing the uses within the larger development and surrounding amenity base

– 78% of in-place leases are corporate or corporately guaranteed by their respective parent company

– Almost 10 years of weighted average lease term remains for all current tenants

IRREPLACEABLE, TROPHY LOCATION – Hard corner location with multiple points of access from primary retail corridor

Route 29/Seminole Trail and Hydraulic Road, which exposes the site to some of Charlottesville’s highest traffic counts (89,000 VPD)

– Outstanding regional connectivity via Routes 29 and 250, the Property is just minutes from the campus of the University of Virginia, Downtown Charlottesville and Interstate 64

– High barriers to entry keep delivery of new competing product low, pushing demand for existing space in the market; Charlottesville has 14 retail square feet per capita verses the national average of 23 square feet

EXCEPTIONALLY STRONG TRADE AREA FUNDAMENTALS – Charlottesville market fundamentals have consistently outperformed other regions.

Asking retail rents in the market have grown 24.9% since 2011 with retail vacancies consistently remaining below 3.5% throughout the last decade. Current retail vacancy in the submarket is 1.3%

– 183,995 residents live within a fifteen minute commute of the property with an overall Spending Potential Index 37% higher than the national average

– National and regional retailers have consistently outpaced national $/SF average annual sales

SITE PLAN

SUITE TENANT SF

G43 Hair Cuttery 1,200

920 European Wax Center 1,609

G45 5 Star Nutrition 1,880

910 Uncle Maddio’s Pizza Joint 2,570

OP Citizens & Farmers Bank 2,850

995 Qdoba Mexican Eats 3,045

900 Mission BBQ 3,320

950 Jared The Galleria of Jewelry 4,572

930 Xfinity 4,585

960 BJ’s Brewhouse 7,500

G47 Available 3,140

ROUTE 29/SEMINOLE TRAIL ROAD (61,000 VPD)

262SPACES

685SPACES

LEN

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AV

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28,0

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VP

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UNDER CONSTRUCTION

AV

AIL

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DRIVE THRU LANES

Tenant Directory

Available

Under Development

AERIAL

RESIDENCES AT STONEFIELD104 TOWNHOMES

STONEFIELD COMMONS254 APARTMENTS

RO

UTE 29 / SEM

INO

LE TRA

IL (61,00

0 V

PD) LENOX AVENUE

(28,000 VPD)

+/- 110 KEY HOTEL AND +/- 200 APARTMENTS TO BE DELIVERED IN NEXT 24-36 MONTHS

R E TA I L I N V E S T M E N T A D V I S O R S F I N A N C I A L A N A LY S T

Bo McKown bo.mckown@thalhimer.com 804 697 3420

L E A S I N G A D V I S O R S

Thalhimer Center11100 West Broad StreetGlen Allen, VA 23060

John Pritzlaff, IV john.pritzlaff@thalhimer.com 434 234 8416

Calvin Griffith calvin.griffith@thalhimer.com 804 344 7158

Catharine Spanglercatharine.spangler@thalhimer.com 804 344 7140

Nicki Jassy nicki.jassy@thalhimer.com 804 697 3433

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SHOPS AT STONEFIELD NORTH VIDEO