FRESH & EASY

Fresh & Easy- Leased Investment Fairfield, CATenant: Fresh and Easy Ground Lease (NAS, LON: TSCO) Site Size: 55,000 SF GLA: 14,700 SF

Investment Strategy: In keeping with our missive of being active buyers of retailer’s surplus properties located in resilient markets, in 2007 Tallen & Keshen Holdings, LLC (“TKH”) purchased an underperforming Smart & Final store through an off-market acquisition. TKH enjoys a longstanding relationship with Smart & Final based upon decades of closely working with their store locations and management team.This property is strategically located proximate to Target, Home Depot, Walgreens, FoodMaxx, 99 Cents Only and the City of Fairfield’s Transportation Center, near Interstate 80 at the West Texas exit, in the San Francisco Bay area of Solano County. TKH assumed the risk of acquiring a “dark box” at a highly favorable basis drawing on our existing knowledge of the market, relationships with local stakeholders and city leaders. Upon closing on the property, TKH immediately obtained key entitlements and went to the leasing market for a tenant for the property utilizing our wholly owned brokerage company, Retail Enterprise Group, Inc. (“REG”). REG secured a ground lease for the entire property with Fresh & Easy, a subsidiary of European retailing giant Tesco. Conclusion: The project is stabilized and provides strong cash flow.