Michaels 1500 Bald Hill Rd 18,200 SF Retail Building Warwick, RI 02886 $6,438,848 CAD ($353.78 CAD/SF) 6.51% Cap Rate

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire the fee simple interest in a single tenant Michaels located within the Marketplace Center at 1500 Bald Hill Road in Warwick, Rhode Island (the “Property”). Michaels has a long history at the Property, operating at this location since 1993 (32+ years) and recently extended their lease for a third time, demonstrating their commitment to the site and the market. Michaels has 7+ years remaining on its current lease term with three (3), five-year renewal options. Their lease calls for scheduled rent increases throughout the base term at the start of each renewal option. Michaels is well-located in Marketplace Center, which sits between Bald Hill Road, the area’s primary retail and commercial corridor, and Centerville Road. Michaels and the entire center enjoy outstanding visibility and frontage, with direct access from both Bald Hill Road and Centerville Road. Michaels is 1-mile from Interstate 95, which offers direct access to Interstate 295 less than 2 miles away, and 1.9-miles from US Route 1. Additionally, the Property is 1.5 miles from the Kent County Memorial Hospital, 2.3 miles from the Community College of Rhode Island, 2.5 miles from the Warwick Mall, and 4 miles from TF Green International Airport. The location is part of a dominant trade area along Bald Hill Road that is home to countless national retailers and restaurants, numerous car dealerships, and several nationally branded hotels that drive traffic to the area.