Top 20 Tenant Diversification
(As of July 31, 2020)

Top 20 Tenants Number of Leases ABR % of ABR Credit rating
7-Eleven 18                             $ 4,385 13.6% AA- / Baa1
CVS 11 2,117 6.6% BBB+ / Baa2
Ollie's 7 1,802 5.6% IG Profile
Lowe's 3 1,678 5.2% BBB+ / Baa1
Advance Auto Parts 19 1,622 5.0% BBB-/ Baa2
Walmart 2 1,595 5.0% AA / Aa2
Dollar General 17 1,582 4.9% BBB / Baa2
Walgreens 4 1,329 4.1% BBB / Baa2
Kohl's 2 1,147 3.6% BBB / Baa2
Floor & Décor 1 815 2.5% BB- / Ba3
Tractor Supply 4 778 2.4% NAIC-2
Camping World 1 705 2.2% Not Rated
Academy 1 699 2.2% CCC+ / B3
BB&T 5 647 2.0% A- / A2
Jacks 4 646 2.0% Not Rated
Fresenius 2 643 2.0% BBB / Baa3
Ashley Furniture 1 536 1.7% Not Rated
Burlington 1 462 1.4% BB / NR
Melrose 3 428 1.3% Not Rated
Hobby Lobby 1 424 1.3% IG Profile
       Total 107                         $ 24,042 74.8%

* Investment Grade Tenant

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Industry Diversification
(As of July 31, 2020)

Industry Defensive Category Number of Leases ABR % of ABR
Convenience Stores Service 20                   $ 4,808 15.0%
Discount Retail Discount 11 3,795 11.8%
Home Improvement Necessity 12 3,539 11.0%
Drug Stores & Pharmacies Necessity 15 3,447 10.7%
Quick Service Restaurants Service 15 2,378 7.4%
Dollar Stores Discount 22 2,086 6.5%
Auto Parts Necessity 19 1,622 5.0%
General Retail Necessity 2 1,595 5.0%
Casual Dining Service 7 1,267 3.9%
Furniture Stores Other 2 872 2.7%
Automotive Service Service 9 807 2.5%
Farm Supplies Necessity 4 778 2.4%
Grocery Necessity 2 748 2.3%
RV Sales Other 1 705 2.2%
Sporting Goods Other 1 699 2.2%
Banking Necessity 5 647 2.0%
Healthcare Necessity 2 643 2.0%
Apparel Other 4 506 1.6%
Arts & Crafts Other 1 424 1.3%
Telecommunications Other 3 341 1.1%
Gift, Novelty, and Souvenir Shops Other 1 200 0.6%
Home Furnishings Other 1 134 0.4%
Equipment Rental and Leasing Other 1 90 0.3%
             Total 160                       $ 32,131 100.0%

*Less than 0.1%

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Geographic Diversification
(as of July 31, 2020)

State Number of Leases ABR % of ABR
Texas 32                          $ 7,051 21.9%
Georgia 10 3,000 9.3%
Florida 11 1,666 5.2%
Michigan 4 1,383 4.3%
Tennessee 6 1,370 4.3%
Alabama 9 1,296 4.0%
Ohio 7 1,212 3.8%
Indiana 6 1,210 3.8%
Mississippi 10 1,197 3.7%
Minnesota 4 1,151 3.6%
Missouri 5 960 3.0%
Arkansas 4 925 2.9%
California 1 815 2.5%
Louisiana 2 784 2.4%
Pennsylvania 4 749 2.3%
New Mexico 3 716 2.2%
New York 1 600 1.9%
Illinois 4 559 1.7%
North Carolina 1 522 1.6%
Virginia 2 522 1.6%
Wisconsin 6 511 1.6%
South Carolina 4 465 1.4%
New Jersey 4 453 1.4%
Kentucky 1 445 1.4%
Kansas 3 433 1.3%
Colorado 3 399 1.2%
Arizona 1 384 1.2%
Iowa 4 320 1.0%
Utah 1 253 0.8%
West Virginia 2 223 0.7%
Oklahoma 2 186 0.6%
Maryland 1 156 0.5%
Massachusetts 1 124 0.4%
Idaho 1 90 0.3%
             Total 160                        $ 32,131 100.0%

View the Geographic Diversification Chart