ST. AUGUSTINE Outlets ST. AUGUSTINE, FL JACKSONVILLE / ST. AUGUSTINE MARKET. ST. AUGUSTINE Outlets ST AUGUSTINE, FL

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1 ST. AUGUSTINE Outlets ST AUGUSTINE, FL

2 CENTER OVERVIEW St. Augustine Outlets, formerly Prime Outlets - St. Augustine, is a Spanish contemporary style, 338,000 square foot outlet shopping center featuring interior and exterior shopping components. It is located in St. Johns County, home of St. Augustine, the first permanent European settlement in America. St. Augustine is strategically located 30 south of Jacksonville, 55 north of Daytona Beach and 90 northeast of Orlando and host to over 6.5 million visitors annually. The Center underwent an expansion/renovation in 2008 which included a new expansion that added 90,000 square feet including a 28,000 square foot Saks Fifth Avenue OFF 5 TH prototype, extensive renovation of its existing interior and common areas, architectural enhancements, an updated 300 seat food court with a direct access entrance and open air pavilion. St. Johns County ranks No. 6 of all sixty-seven Florida counties for population growth according to the US Census Bureau and its median per capita personal income is the highest in Florida at nearly $75,000 and rising. This affluent market was underserved from an upscale outlet perspective and the remerchandising of St. Augustine Outlets is proving to be just what the area residents and visitors desired.

3 JUST THE FACTS PROPERTY INFORMATION Opening date: July 1999 Extensive $35 million Renovation and Expansion: November 2008 GLA: 338,000 sq. ft. No. of stores: 75 stores DEMOGRAPHICS / ESRI 2010 RADIUS POPULATION AVERAGE HOUSEHOLD INCOME 10 mile 85,474 $63, mile 128,094 $71, mile 232,531 $84, mile 916,296 $74, mile 1,502,797 $66, mile 1,632,479 $66, mile 1,960,749 $63,480

4 LOCATION jacksonville St. Augustine OUTLETS ST. AUGUSTINE, FL daytona beach Driving Distances: JACKSONVILLE - 30 / DAYTONA BEACH - 55 / ORLANDO From Jacksonville: I- south to exit 318. Turn left traveling east on State Road 16 and make a left turn onto Prime Outlets Boulevard. From Daytona Beach: I- north to exit 318. Turn right traveling east on State Road 16 and make a left turn onto Prime Outlets Boulevard. From Orlando: I-4 east to I- north, exit 318. Turn right traveling east on State Road 16 / make a left turn onto Prime Outlets Boulevard.

5 W N S ST. AUGUSTINE Outlets ST. AUGUSTINE, FL JACKSONVILLE / ST. AUGUSTINE MARKET AERIAL TO: DAYTONA BEACH *64,500 VEHICLES PASS DAILY TO: JACKSONVILLE *Florida Department of Transportation, 2009 E

6 BRANDS

7 BRANDS

8 COMPETITION jacksonville Orange Park Mall / 33 Dillards, Sears, JC Penney, Dick s Sporting Goods, AMC Theater St. Johns Town Center / 28.5 Louis Vuitton, Coach, BCBG, Tommy Bahama, MAC, Pottery Barn, Banana Republic, Bebe, Gap, White House/Black Market, Lucky Brand Jeans, J. Crew, Anthropologie The Avenues Mall / 24.5 Dillards, Belk, Sears, JC Penney St. Augustine OUTLETS ST. AUGUSTINE, FL St. Augustine Premium Outlets / 1 mile 50 1 daytona beach

9 THE MARKET TOURISM Nearly 6.5 million tourists visit St. Johns County each year (St. Johns County Chamber). The resorts at Ponte Vedra Beach, just north of St. Augustine Outlets, earn coveted fourstar and four-diamond awards each year for top of the line accommodations, service, food and ambiance. Guests can play golf and tennis and enjoy the adventurous activities of the ocean or enjoy the beautiful beaches. The area is home to more than 70 golf courses, including the world renowned TPC Sawgrass. The annual Player s Championship at TPC Sawgrass attracts more than 600,000 visitors to the area in May. The PGA Tour headquarters are based nearby in Ponte Vedra and the World Golf Hall of Fame is located 5 from the center. GROWTH St. Johns County, Florida is number 12 of 25 Counties with highest job growth ( )(CNN Money). St. Augustine, Florida is listed as one of the top 10 cities of Best Places to Live 2009 in the United States (Yahoo Finance). The population of St. Johns County is expected to grow from 181,540 people in 2008 to 221,682 people in 2013 (U.S. Census). WEALTH Ponte Vedra, Florida is rated within the top 30 cities in the United States with the highest median income ($116,399) (CNN Money). Thirty-two percent of St. Augustine Outlets customers have an annual household income of more than $150,000 the largest percentage of any income category, according to a 2010 Market Study conducted at St. Augustine Outlets.