SLEEP NUMBER  - SEMINOLE TRAIL, CHARLOTTESVILLE, VA

Charlottesville is an independent city in the Commonwealth of Virginia, situated at the eastern base of the Blue Ridge Mountains in the heart of the Piedmont region. The city is the principal component of the Charlottesville Metropolitan Statistical Area, which includes Albemarle County, Fluvanna County, Greene County, Nelson County, and the City of Charlottesville, with a combined population of approximately 235,000. Interstate 64 provides east-west connectivity to Richmond (70 miles east) and Staunton (40 miles west), while U.S. Route 29 serves as the primary north-south corridor connecting Charlottesville to Washington, D.C. (115 miles north) and Lynchburg (65 miles south). The local economy is anchored by the University of Virginia, a top-ranked public research university with 21,985 students, approximately 28,000 employees, and an estimated $5.9 billion annual economic impact on the region. UVA Health, the university’s academic medical center, is a Level I trauma center, a National Cancer Institute–designated cancer center, and one of the largest employers in the Commonwealth of Virginia. The university’s presence drives consistent demand for housing, retail, and services, and creates a highly educated consumer base with above-average household incomes. The Seminole Trail (U.S. Route 29) corridor is the primary retail spine of northern Charlottesville, carrying approximately 55,000 vehicles per day. The subject property is an outparcel to Charlottesville Fashion Square, a 572,000-square-foot regional shopping center that serves as the dominant enclosed mall for the Charlottesville trade area. The surrounding corridor features a concentration of national retailers including Walmart, Lowe’s, Kroger, Costco, Trader Joe’s, ALDI, Whole Foods, HomeGoods, DSW, TJ Maxx, and Red Lobster. U.S. Route 29 also intersects with U.S. Route 250 (26,000 AADT), further concentrating traffic at the northern gateway to the city. The Charlottesville-Albemarle Airport is located approximately six miles from the property, providing regional air service.The property is situated along Seminole Trail (U.S. Route 29), one of the primary commercial corridors in the Charlottesville market, carrying approximately 55,000 vehicles per day. The subject property is an outparcel to Charlottesville Fashion Square, a 572,000sf regional shopping center anchored by national retailers. Adjacent and nearby tenants include Walmart, Lowe’s, Kroger, Costco, Trader Joe’s, ALDI, Whole Foods, HomeGoods, DSW, TJ Maxx, and Red Lobster. Select Comfort Retail Corporation, d/b/a Sleep Number (NASDAQ: SCSS), operates under a triple-net lease with 10% rent escalations every five years through the initial term and both renewal options. The Tenant is responsible for real estate taxes, property insurance, and all maintenance costs as additional rent. The Landlord retains responsibility for roof and structural components only. Sleep Number’s publicly traded status provides financial transparency and corporate accountability that private tenants cannot offer.