Experiential, Destination-Format Property Leased to Cabela’s Wholesale, L.L.C. and Guaranteed by Great Outdoors Group, LLC, North America’s Largest Outdoor Specialty Retailer, Under an Absolute NNN Lease 

Wall Township, NJ – September 24, 2026 – Four Springs TEN31 Xchange, LLC (“FSXchange”), a leading sponsor of Delaware Statutory Trust (DST) investment programs and 1031 replacement properties, announced the acquisition of a 152,357-square-foot Cabela’s destination retail showroom in Richfield, Wisconsin, and the concurrent launch of FSX Retail 37, DST, a $48.3 million all-cash offering available exclusively to accredited investors. The property is leased to Cabela’s Wholesale, L.L.C. and guaranteed by Great Outdoors Group, LLC, North America’s largest outdoor specialty retailer, under an absolute NNN lease with contractual annual rent increases.

“FSX Retail 37, DST brings together the characteristics that matter most to 1031 exchange investors: a long-term absolute NNN lease, contractual rent growth, and a guarantor with the scale and market position of Great Outdoors Group,” said Matt Woehnker, President of Four Springs Capital Markets. “The Richfield store’s experiential format is built to generate regional destination traffic and extended consumer visits in a way that conventional retail simply cannot replicate. There are no landlord obligations and no financing risk. For investors seeking a passive, all-cash replacement property, FSX Retail 37 is an exceptionally well-structured opportunity.”

The Richfield property is situated on approximately 33.1 acres at 1 Cabela Way, at the convergence of U.S. Highway 41, U.S. Highway 45, and State Highway 145, with freeway visibility serving the greater Milwaukee metropolitan area. Built in 2006, the facility incorporates Cabela’s signature amenities: a fully operational boat shop, an indoor archery test area, a freshwater aquarium, an indoor nature pond, wildlife and taxidermy displays, and an approximately 18,085-square-foot museum dedicated to hunting, fishing, and conservation. The property is one of only two Cabela’s locations in Wisconsin. “Cabela’s has made a substantial, long-term capital investment in this site,” said Jared Morgan, Head of Acquisitions at Wheelhouse Capital Group, parent company of Four Springs TEN31 Xchange. “A store configured with this level of experiential infrastructure, serving as one of only two Cabela’s locations in Wisconsin is not easy to replicate or replace. That depth of site-level commitment, backed by Great Outdoors Group’s scale and the absolute NNN lease structure, is exactly the type of property we look to underwrite for our investors.”

FSX Retail 37’s all-cash structure complements Four Springs TEN31 Xchange’s recent industrial launches, FSX Industrial 35 and FSX Industrial 36, the former of which incorporated debt financing, giving 1031 exchange investors a choice between leveraged and all-cash replacement property within the same 2026 pipeline.

About Cabela’s and Great Outdoors Group, LLC

Cabela’s is one of the most recognized outdoor recreation retail brands in North America, offering a comprehensive assortment of hunting, fishing, camping, boating, and outdoor apparel and gear through a destination-format showroom model. The brand was founded in 1961 in Chappell, Nebraska, and acquired by Bass Pro Shops in September 2017 in a transaction valued at approximately $5 billion. The combined platform now operates under Great Outdoors Group, LLC, North America’s largest outdoor specialty retailer, which generates revenue across three segments: retail (Bass Pro Shops and Cabela’s), marine manufacturing (White River Marine Group), and hospitality and attractions (Big Cedar Lodge). The enterprise operates approximately 200 Bass Pro Shops and Cabela’s stores plus Tracker Marine Centers across the United States and Canada, employs approximately 40,000 people, and draws more than 200 million annual visitors to its destination-format retail network.

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