MARKET DOMINANT LOCATION

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1 MARKET DOMINANT LOCATION Major Renovation Complete Shares 2 signalized access points with Northwoods Mall (12 million annual visitors!) Leasing Leasing Contact: Contact: Stephanie RYAN PRESTON Lipp slipp@hawthorneretailpartners.com rpreston@hawthorneretailpartners.com ph: ph: cell: cell: The Promenade The Promenade at Northwoods at a 311,588 OF REGIONAL A 311,588 SF SHOPPING REGIONAL SHOPPING CENTER NORTH CHARLESTON, NORTH CHARLESTON, SOUTH SOUTH CAROLINA

2 CHARLESTON RETAIL MARKET AZALEA SQUARE 176 SUMMERVILLE The Promenade at Northwoods M A L L NORTH CHARLESTON WEST ASHLEY MT. PLEASANT TOWN CENTER 17 CITADEL MALL CHARLESTON MT. PLEASANT

3 MARKET OVERVIEW The Promenade at Northwoods A 311,588 SF regional shopping center located in North Charleston, South Carolina. Built in 1987, The Promenade at Northwoods is located across the street (shares two stoplights) from Northwoods Mall, one of the highest grossing malls in South Carolina (over 12 million annual visitors). The Promenade at Northwoods is surrounded by major retail, employment centers, residential, and excellent road connectivity within the Rivers Avenue corridor of North Charleston. Surrounding Retail Largest retail submarket in the Charleston MSA. Northwoods Mall Belk, Dillards, JC Penney, Sears Northwoods Market Place Best Buy, Michaels, Big Lots North Point Plaza Walmart, Office Max, AC Moore North Rivers Town Center Target, Ross, Bed Bath & Beyond Demographics The demographics surrounding The Promenade at Northwoods are characterized as relatively dense and middle income: 5-Mile Population 122,852 5-Mile HH Income $51,650 5-Mile Daytime Population 63,536 Surround Home Values Range from $135,000 to $500,000

4 RETAIL SUBMARKET MARKETPLACE Naval Weapons Station 11,500 Employees NORTH POINT PLAZA The Promenade at Northwoods NORTH RIVERS TOWN CENTER MILE RADIUS 78 Charleston Southern University 3,300 Students Trident Medical Center 1,300 Employees 52 M A L L 26 Trident Technical College 12,000 Students 3 MILE RADIUS Air Force / Navy Base 22,000 Employees 6,000 Employees 12 Million Visitors Per Year! Charleston Int l Airport 1,200 Employees

5 MALL CONNECTION ASHLEY PHOSPHATE ROAD STADIUM CINEMA FROM I-26 M A L L RIVERS AVENUE (43,000 VPD) PYLON PYLON The Promenade at Northwoods MARKET DOMINANT LOCATION Directly across the street from the Highest Grossing Mall in Region Shares Two (2) stoplights with Mall Three (3) Points of Ingress/Egress Three (3) Pylon Signs The Promenade at Northwoods PYLON

6 MARKET OVERVIEW major employment / education Air Force / Navy Base 22,000 Employees Boeing Over 6,000 Employees Created 12,000 Auxillary Jobs Naval Weapons Station 11,500 Employees Trident Technical College 12,000 Students Charleston Southern University 3,300 Students Trident Healthcare 1,300 Employees Company Product or Service Employees Joint Base Charleston Area U.S. Millitary Commands 22,000 Medical University of South Carolina (MUSC) Hospital, Post-Secondary 13,000 Education, Research Boeing South Carolina Aircraft Manufacturing 6,000 Berkeley County School District Education / Public Schools 3,700 Dorchester County School District II Education / Public Schools 2,900 Trident Health System Hospital System 2,500 College of Charleston Post-Secondary Education 2,400 Walmart Inc. Retail Merchandise 2,300 U.S. Postal Service Postal Service 1,100 Berkeley County Local Government 1,000 City of North Charleston Local Government 980 Source: Center for Business Research, Charleston Metro Chamber of Commerce, 1/2012 major ROAD NETWORKS I-26, SC HWY 52, and SC Hwy 78 converge together adjacent to The Promenade at Northwoods. I-526 connects both West Ashley and Mount Pleasant from the West and East to I-26 within 4.5 miles of The Promenade at Northwoods.

7 MAJOR RENOVATION Completed Enhanced FACADE NEW LANDSCAPE SIGNAGE ENHANCEMENT IMPROVED VISIBILITY PARKING LOT RESURFACED PROPERTY DESCRIPTION Size: 311,588 Square Feet Address: 7250 Rivers Avenue, North Charleston, SC Demographics: 5-Mile Population: 124,910 5-Mile Daytime Population: 59,025 5-Mile HH Income: $53,613 Traffic Count: Over 43,000 cars per day on Rivers Avenue

8 E A G L E L A N D I N G B L V D 3 PYLON SIGNS EXPANSION AREA N O R T H B R O O K B L V D a MONUMENT SIGN #1 Existing Restaurant MONUMENT SIGN #2 Existing Restaurant Vacant Parcel R I V E R S A V E N U E MONUMENT SIGN #3 (43,000 VPD) ATERIAL FACTS OME: $53,613 ATION: 124,910 PULATION: 59,025 MALL ENTRANCE M A L L - 12,000,000 VISITS PER YEAR - 2ND HIGHEST GROSSING MALL IN SC MALL ENTRANCE

9 FACADE RENOVATION PREVIOUS ANNA S LINENS FACADE CURRENT ANNA S LINENS FACADE

10 FACADE RENOVATION PREVIOUS RUGGED WEAREHOUSE FACADE CURRENT PARTY CITY FACADE

11 FACADE RENOVATION

12 RESIDENTIAL NAVAL WEAPONS STATION / STRATEGIC WEAPONS FACILITY 11,500 EMPLOYEES Sedgefield Middle School NORTH POINT INDUSTRIAL PARK Crowfield Plantation $150K-$900K Approx. 3 1/2 mi. from The Promenade at Northwoods Goose Creek High School Kennsington, St James Estates, Carlton Place $100K-$250K Laurel Hill $150K-$275K Tanner Plantation $150K-$550K Goose Creek Primary School Goose Creek Reservoir Pineview Acres $100K-$200K 52 Eagle Landing, Otranto, Indigo Island Reserve $150K-$375k RIVERS AVENUE (43,000 VPD) The Promenade at Northwoods MARKETPLACE Hanahan Elementary School NORTH RIVERS TOWN CENTER TRIDENT MEDICAL COLLEGE 12,000 Students 78 M A L L ASHLEY PHOSPHATE ROAD NORTH POINT PLAZA Park Hill Place, Northwood Estates, Northwoods Pointe, Oak Bluff $100K-$200K CHARLESTON SOUTHERN UNIVERSITY 33,000 STUDENTS TRIDENT MEDICAL CENTER 1,300 EMPLOYEES AIR FORCE / NAVY BASE 22,000 EMPLOYEES CHARLESTON INT L AIRPORT 1,200 EMPLOYEES

13 RESIDENTIAL CHARLESTON SOUTHERN UNIVERSITY 33,000 STUDENTS Crowfield Plantation $150K-$900K Approx. 3 1/2 mi. from The Promenade at Northwoods Alcoa 562 Employees w/ $91,000 Avg Salary Trident Memorial Hospital 3,300 Employees Naval Weapons Station / Strategic Weapons Facility 11,500 Employees Goose Creek Reservoir Otranto $150K-$250K TO 78 The Promenade at Northwoods Eagle Landing $150K-$375K M A L L Audubon Park Apartments