OPERATIONS

Tupelo Honey has commenced work on their tenant buildout, meeting weekly with management and our current third floor office tenant Microsoft to ensure a smooth buildout. They remain on track for their anticipated opening date in February 2022.

Tupelo Honey was featured in an article in the Business Record regarding new restaurants coming to Des Moines: https://businessrecord.com/Content/Real-Estate-Development/Real-Estate-Development/Article/New-restaurant- coming-to-downtown-Des-Moines/173/835/94614

The retail market in Des Moines has emerged rapidly from the pandemic with minimal impact to occupancy and rental rates. Iowa ranked over the 75th percentile in a consumer spending study performed by WalletHub that compared all 50 states COVID-19 recovery across three categories: COVID health; leisure and travel; and economy and labor market. A trend that has emerged in the dining industry post COVID is consumers desire for outdoor dining, an offering Tupelo has expertly positioned themselves to service.