Shoeteria | NNN Lease

• ±9 Years of Corporate-Guaranteed NNN Term With Fixed 3.5% Annual Increases and Options Extending Potential Occupancy Through 2045
• Downtown Norwalk Civic Core Position Adjacent to City Hall, the Los Angeles County Superior Court, and the County Registrar-Recorder Headquarters, Which Alone Employs Nearly 1,000 Full-Time Staff
• A 75+ Year Operating History at One Address Is the Kind of Tenure Net Lease Buyers Underwrite as Renewal Probability, Not Just Brand Story

Corporate-Guaranteed NNN Structure

• Two Five-Year Renewal Options at the Same 3.5% Escalation Before Fair Market Rent, Extending Potential Occupancy Through 2045
• Guaranty Provided by Work World, a Private Equity-Sponsored Specialty Workwear Platform Operating 38 Locations Across California, Nevada, and Washington, Materially Deeper Credit Than a Single-Store Regional Operator
• Work World Named a New Chief Executive in 2025, Recruited From Red Wing Shoe Company After 23 Years, Most Recently Leading Its North American Work, Hunt, and Retail Division, Signaling Institutional Discipline Behind the Guaranty
• Shoeteria Opened Its First Store on This Site in 1949, and the Company Has Operated Here Continuously Ever Since, the Single Strongest Available Proxy for Store-Level Performance in the Absence of Reported Sales

Location, Trade Area & Basis

• Centered Inside the I-5, I-605, and SR-91 Freeway Triangle, With the Metro C Line Terminus and the Norwalk / Santa Fe Springs Metrolink Station Serving the City
• Set Along San Antonio Drive Along Firestone Boulevard a Strong Retail Corridor with Major Retailers Including Tj-Maxx, Northgate Market, Starbucks, Stater Bros, Costco, Toyota, and Supported by Civic, Institutional, and Daytime Office Traffic Entrance/Exit)
• 638,452 Residents and $118,989 Average Household Income Within Five Miles, With 623,062 Daytime Employees Inside the Civic and Retail Core
• LA County’s Logistics, Manufacturing, and Construction Employment Base Is Shoeteria’s End Customer, Aligning Tenant Demand With the Surrounding Economy Rather Than Discretionary Retail Spending