FLOYD DEAN IMAGERY FOR ANYI-LU

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1 FLOYD DEAN IMAGERY FOR ANYI-LU

2 The Napa Valley is a robust retail trade area and international destination for wine, food, art, fashion, design and artisanal experiences. NAPA VALLEY Napa Valley has become an extension of the booming Bay Area with thousands of second-home owners and over 1.3 million people located within a 45-minute drive of Downtown. Napa is one of the most strategically located visitor destinations in the U.S., and one of the leading wine regions worldwide and home to over 750 wineries as well as tasting rooms, restaurants, hotels and resorts. While wine is central to the visitor experience, other experiences are becoming more important. Napa Valley has a premiere collection of hotels and resorts, chef driven restaurants, cultural/entertainment venues, events and amenities that distinguishes it among other world-class destinations. However, the Napa market is the only one of its kind in the U.S. without a critical mass of fashion and specialty shopping. First Street Napa will fill this void.

3 FIRST STREET NAPA VISION A walkable multipurpose urban district and leisure destination where area residents and visitors join to shop, dine, stay and play. Our vision is to continue the transformation of Downtown Napa with the critical mass of retail, restaurants and lodging that the market needs. First Street Napa will deliver a compelling mix of local, regional, national and international shops and culinary venues that will take Downtown Napa to the next level. Locally curated art, landscaping, amenities and special events that embody Napa style will add to the experience. First Street Napa will be a must-see destination for the most discerning shoppers and visitors. FLOYD DEAN IMAGERY FOR ANYI-LU

4 DOWNTOWN NAPA: RETAIL, RESTAURANT & INFRASTRUCTURE MOMENTUM As a sign of things to come, fifty new and expanded stores, restaurants and tasting rooms have opened Downtown in the last two years. Downtown restaurant sales average $825 per sf among the 23 most established concepts with many exceeding $1,000 per sf. More than $1 billion has been invested in recent years (public and private) including streetscape and riverfront enhancements, public art, and two-way vehicular traffic on First Street the front door to First Street Napa.

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6 CRITICAL MASS Downtown Napa, and First Street specifically, is the only place in the Valley where a large concentration of synergistic shopping, lodging, and food and beverage venues can be delivered in an authentic urban mixed-use environment. First Street Napa is well positioned to draw both resident and tourist traffic all year long. Morimoto Oxbow Public Market Celadon Napa Valley Opera House Oenotri Bounty Hunter Wine Bar Cole s Chop House Norman Rose Tavern NineBark Hyatt Andaz Hotel Westin Verasa Napa River Inn Torc La Toque Blue Note Jazz Club (Coming Soon)

7 DEMOGRAPHIC OVERVIEW 5-Mile 10-Mile Primary 45-Minute Drive 90-Minute Radius Radius Trade Area Drive Daytrip Zone Population (2015) 94, , ,248 1,482,027 7,283,768 Households 33,458 51,207 82, ,896 2,664,857 HH Income $75K+ 14,712 24,237 36, ,715 1,202,849 HH Income $75K+% 44% 47.3% 43.9% 46.1% 45.1% HH Income $100K+ 10,354 17,604 25, , ,796 HH Income $100K+% 30.9% 34.4% 31.1% 32.6% 33.1% Avg. HH Income $89,198 $99,249 $94,859 $93,835 $96,081 Med. HH Income $70,631 $75,675 $70,549 $74,018 $75,265 Education(Bach+) 25,068 43,634 67, ,590 2,650,128 Education(Bach+)% 30.5% 34.7% 33.5% 39.1% 41.2% FLOYD DEAN IMAGERY FOR ANYI-LU

8 The 231,248 residents in the trade area are well educated and must travel extended distances for high-quality shopping. Residents in the area have average incomes of $90K or higher, are college educated, and spend on dining and nightlife. There are approximately 14,000 second homeowners (30,000+ people) within the Napa Trade Area.* Area residents are passionate about the outdoors and wellness, charitable giving, design, style, food and beverage. Napa is considered an important, destination-worthy lifestyle extension of the San Francisco Bay Area, which boasts one of the strongest regional economies in the U.S. The dynamic Bay Area continues to expand and add thousands of sophisticated new residents every year. Over 7 million people live within 90 minutes of Downtown Napa and over 10 million within 2 hours, a convenient day trip, extending to the furthest reaches of Silicon Valley. *Napa County Tax Assessor Primary Trade Area 231,248 people 45-Minute Drive Time (Regional Trade Area) 1.5 million people 90-Minute Drive Time (Daytrip Zone) 7 + million people 120-Minute Drive Time (Daytrip Zone) 10+ million people

9 TOURISM Napa is a year-round playground for travelers who want to experience and consume the Wine Country lifestyle. The Napa Valley is a destination for Bay Area day trippers and weekenders from all over California and multi-night visitors from across the U.S. and around the world. Napa is also an increasingly attractive place for young aspirational professionals. The Napa-Sonoma region receives approximately 5,000,000 regional, national and international visitors per year with most overnight guests staying three nights. 40.3% of visitors report shopping during their visit, outside of wine purchasing 61% of lodging guests have household incomes of over $100,000, with an Avg HHI of $203, % report an average of over $200K Today, there are 4,500 hotel rooms in Napa Valley with 2,451 planned over the next five years many of which will be located in the vicinity of Downtown Napa. FLOYD DEAN IMAGERY FOR ANYI-LU

10 VISITOR/TOURIST MARKETS DEMOGRAPHIC COMPARISON (30 MIN DRIVE TIME) First Street Carmel Plaza/ Gardens at El Paseo Nuevo/La 2 Court Street/ Santa Fe Plaza/ Downtown Waterside King Street/Mt. Downtown Napa Del Monte Center Paseo/The River/ Cumbre/Montecito Downtown Centre Downtown/Santa District Shops Pleasant Town District Napa, CA Carmel and Palm Desert Mall Country Mart San Luis Fe Place Mall Aspen, CO Naples, FL Center South Monterey, CA Palm Desert, CA Santa Barbara, CA Obispo, CA Santa Fe, NM Charleston, SC Hampton, NY Population (2015) 488, , , , , ,621 23, , , ,305 Households 171,699 73, ,014 76,045 82,695 55,611 10, , ,717 45,041 HH Income $75K+ 75,948 30,815 47,954 35,261 32,093 18,433 5,188 69,538 66,414 21,891 HH Income $100K+ 52,405 21,495 32,365 26,100 20,968 12,238 3,431 47,978 41,919 15,900 Med. HH Income $70,368 $69,298 $53,442 $75,434 $60,175 $55,553 $73,971 $61,211 $55,113 $75,043 Education(Bach+) 123,118 63,298 96,964 85,485 64,097 56,045 12, , ,068 48,087 Retail/SF GLA 1 (000s) ,000 1, Napa Valley is among the most populated U.S. visitor/tourist areas, and also outpaces any other market for households above $100,000 income levels.

11 TRANSFORMATION With $30M in improvements underway for a late 2016 opening, our 275,000-square-foot mixed-use development will transform the Napa Valley experience, adding approximately 40+ shops and restaurants, as well as a 183-room boutique luxury Archer Hotel to the surging Downtown area. Our team is partnered with leading architects and local designers and artists to create a warm and inviting aesthetic that is authentic to Napa First Street Napa extends nearly three city blocks on First Street with a mix of new, renovated and historic façades New hardscape and landscaping, seating areas, water features, and amenities will create a special shopper experience First Street Napa features an approximately 100-year-old Cork Oak tree as an internal focal point as well as a touchstone to the rich heritage of the Napa Community A public art program curated by local artists/galleries will draw pedestrian traffic from the street New 2-way traffic on 1 st Street will provide better regional access and strong circulation within the downtown core Ample parking is provided in two adjacent public garages

12 ARCHER HOTEL Under construction and scheduled to open in early 2017, Archer Napa will bring a new boutique hotel experience to the heart of First Street Napa. The hotel joins Archer New York, which opened in 2014 in Midtown Manhattan and features the new popular David Burke fabrick restaurant. 5-story new build hotel with 18,000 sf of integrated ground floor retail 183-guest rooms and suites, many with private balconies and fireplaces Charlie Palmer Steak signature restaurant & rooftop bar with stunning 360 views of Napa Valley Ledge pool and spa facilities 5,700 sf of meeting and event space

13 CULINARY INSTITUTE OF AMERICA Downtown Napa s transformation is rapidly progressing with the recent announcement that The Culinary Institute of America has purchased the 80,000 sf Copia building on First Street. The CIA plans to offer culinary education and food-based experiences. Situated next to Oxbow Public Market and a short walk from First Street Napa, the CIA will provide an expanded array of food and wine offerings giving visitors more reason to spend time in Downtown Napa all year round. CIA s Food Business School, the world s first for food entrepreneurship and innovation, will also be headquartered at Copia. Programming is expected to be introduced in spring Visitors friendly components will include two restaurants, a 100-seat demonstration kitchen, and a 700-seat outdoor amphitheater.

14 NAPA, CALIFORNIA FIRSTSTREETNAPA.COM LEASING David Pratt, VP of Leasing O: David Muckleroy, Sr. Leasing Representative O: PROJECT LEADERSHIP Tommy Miller Trademark Property Co. O: Todd Zapolski Zapolski Real Estate O: January2016 INVESTMENTS DEVELOPMENT INSTITUTIONAL SERVICES 1701 River Run, Suite 500, Ft. Worth, TX trademarkproperty.com