North America’s Largest Outdoor Specialty Retailer Freestanding Long-Term Absolute NNN Lease on Flagship Upper Midwest Store

Wall Township, NJ – September 24, 2026 – Four Springs TEN31 Xchange, LLC (FSXchange), a sponsor of Delaware Statutory Trusts focused on industrial, retail, and medical real estate for 1031 exchange replacement properties, announced the acquisition of a 152,357-square-foot, large-format experiential retail showroom in Richfield, Wisconsin, fully leased to Cabela’s Wholesale, L.L.C., with a parent guaranty from Great Outdoors Group, LLC.

The Richfield property is a purpose-built Cabela’s destination store that opened on an approximately 33.1-acre site. The facility occupies a prominent position at the convergence of U.S. Highway 41, U.S. Highway 45, and State Highway 145, providing access to the greater Milwaukee area and broader southeastern Wisconsin. The property is one of only two Cabela’s-banner locations in the state. The store’s format includes a fully operational boat shop, an indoor archery test area, a freshwater aquarium, a nature pond, wildlife and taxidermy displays, and an approximately 18,085-square-foot museum area dedicated to hunting, fishing, and conservation. ” Customers do not drive 30 miles to browse; they drive 30 miles because there is no substitute for what this store offers,” said Jared Morgan, Head of Acquisitions at Wheelhouse Capital Group, parent company of Four Springs TEN31 Xchange. “The destination format is the structural moat here. These stores draw consumers from well outside a conventional trade area; they generate multi hour visits, and they serve categories that require physical handling and expert guidance. That is a fundamentally different value proposition than what e-commerce can deliver, and it shows up in the tenant’s performance.”

“The outdoor lifestyle category has proven remarkably resilient, and Great Outdoors Group has built a platform that is genuinely difficult to compete against at scale,” said Bill Dioguardi, Executive Chairman at Four Springs Capital. “The physical build-out here, the regional draw, the depth of tenant investment in fixtures and experiential infrastructure — this is not a store you close or relocate. The absolute NNN structure, the long-term lease, and the guaranty from Great Outdoors Group give us exactly the durable, landlord-passive income profile we underwrite.”

About Cabela’s and Great Outdoors Group, LLC

Cabela’s Wholesale, L.L.C. is a wholly owned subsidiary of Great Outdoors Group, LLC, the largest outdoor specialty retailer in North America. The Cabela’s brand was founded in 1961 in Chappell, Nebraska, and was acquired by Springfield, Missouri-based Bass Pro Shops in September 2017 in a transaction valued at approximately $5 billion. The combined platform operates under Great Outdoors Group, LLC (formerly Bass Pro Group, LLC) and runs approximately 200 Bass Pro Shops and Cabela’s stores plus Tracker Marine Centers across the United States and Canada.

About Four Springs TEN31 Xchange

Founded in 2014, Four Springs TEN31 Xchange, LLC is an active DST sponsor specializing in creditworthy, single-tenant commercial properties across the industrial, retail, and medical sectors. The firm implements a comprehensive property screening, due diligence, and underwriting process prior to each DST offering, with ongoing asset management, property reviews, and financial reporting throughout the investment period. Offerings are distributed through Four Springs Capital Markets, providing access to a nationwide network of financial professionals. For more information, visit ten31xchange.com.

MEDIA CONTACT

Charles Shaw

Four Springs TEN31 Xchange

info@fscap.net

732-749-7344

ten31xchange.com