Top 20 Tenant Diversification
(As of September 30, 2020)

Top 20 Tenants Number of Leases % of ABR Credit rating
7-Eleven 18 11.3% AA- / Baa1
Lowe's 4 9.2% BBB+ / Baa1
Advance Auto Parts 33 8.2% BBB- / Baa2
Sam's / Walmart 4 7.0% AA / Aa2
CVS 11 5.4% BBB / Baa2
Ollie's 7 5.3% IG Profile
Dollar General 19 4.6% BBB / Baa2
Walgreens 4 3.4% BBB / Baa2
Home Depot 1 3.1% A / A2
Kohl's 2 2.9% BBB- / Baa2
Floor & Décor 1 2.1% BB- / Ba3
Tractor Supply 4 2.0% BBB / Baa1
Academy 1 1.9% B / B1
Dollar Tree / Family Dollar 7 1.9% BBB- / Baa2
Camping World 1 1.8% B- / B2
BB&T (Truist) 5 1.7% A- / A3
Jack's 4 1.7% Not Rated
Fresenius 2 1.7% BBB / Baa3
Ashley Furniture 1 1.4% Not Rated
Sherwin Williams 6 1.3% BBB- / Baa2
       Total 135 77.7%

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Industry Diversification
(As of September 30, 2020)

Industry Defensive Category Number of Leases % of ABR
Home Improvement Necessity 15 17.3%
Convenience Stores Service 20 12.3%
Discount Retail Discount 11 10.4%
Auto Parts Necessity 40 9.2%
Drug Stores & Pharmacies Necessity 15 8.9%
General Retail Necessity 3 5.9%
Dollar Stores Discount 26 6.4%
Quick Service Restaurants Service 15 6.1%
Casual Dining Service 6 2.8%
Furniture Stores Other 2 2.2%
Automotive Service Service 9 2.1%
Farm Supplies Necessity 4 2.0%
Grocery Necessity 2 1.9%
Sporting Goods Other 1 1.9%
RV Sales Other 1 1.8%
Banking Necessity 5 1.7%
Healthcare Necessity 2 1.7%
Apparel Other 4 1.3%
Arts & Crafts Other 1 1.2%
Wholesale Warehouse Club Necessity 1 1.1%
Telecommunications Other 3 0.9%
Gift, Novelty, and Souvenir Shops Other 1 0.5%
Home Furnishings Other 1 0.3%
Equipment Rental and Leasing Other 1 0.2%
             Total 189 100.0%
Defensive Category Number of Leases % of ABR
Necessity 87 49.6%
Service 50 23.3%
Discount 37 16.8%
Other 15 10.4%
       Total 189 100.0%

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Geographic Diversification
(as of September 30, 2020)

State Number of Leases % of ABR
Texas 32 18.4%
Georgia 10 7.8%
Virginia 4 6.6%
Mississippi 12 6.0%
Illinois 5 4.5%
Florida 11 4.3%
Ohio 9 3.6%
Michigan 4 3.6%
Pennsylvania 10 3.5%
Tennessee 6 3.5%
Alabama 9 3.3%
Indiana 6 3.2%
Minnesota 4 3.0%
Arkansas 6 2.8%
Missouri 5 2.5%
Louisiana 2 2.1%
California 1 2.1%
New York 3 2.1%
New Jersey 6 2.0%
New Mexico 3 1.8%
Wisconsin 8 1.8%
North Carolina 1 1.3%
South Carolina 4 1.2%
Kentucky 1 1.1%
Colorado 3 1.0%
Arizona 1 1.0%
Iowa 4 0.8%
Maryland 2 0.8%
Utah 1 0.6%
Kansas 2 0.6%
West Virginia 2 0.6%
Vermont 4 0.6%
Oklahoma 2 0.5%
New Hampshire 3 0.4%
Massachusetts 1 0.3%
North Dakota 1 0.2%
Idaho 1 0.2%
             Total 189 100.0%

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