OFFERING SUMMARY

The Village at Byers Creek sits on one of the most strategic corners in the market, at the northeast corner of Highway 150 and Perth Road. The intersection is the last one drivers reach before coming to the prestigious neighborhood of Pinnacle Shores, on the peninsula at Lake Norman and it is the first one drivers see when coming from the opposite direction. The Property sits on the going-home side of Highway 150 and is the closest grocery-anchored store to the high-income residential area. The next closest comparable grocery store, Bloom, is located about 2 miles east on Highway 150 in Port Village Shopping Center.

Not only is the intersection key as an east-west corridor, but also as a north-south corridor. Due to the layout of Lake Norman, Perth Road represents the only major artery, running 11 miles north-south, that parallels I-77 and connects Mooresville to the Town of Troutman. The corridor is experiencing significant growth and has a large number of high demographic subdivisions popping up along the roadway.

SUBMARKET OVERVIEW

Mooresville is at the heart of the most dynamic residential market in metro Charlotte and is experiencing explosive growth due to its close proximity to both Charlotte, the 2nd largest banking city in the nation, and Lake Norman, the state's largest manmade lake offering recreation and relaxation. The City was ranked in the Top 100 Cities to Live by Money Magazine in 2007 because of its economic development and small-town charm.

The area surrounding The Village at Byers Creek includes established neighborhoods and commercial centers with limited vacant land for development opportunities. The immediate vacant land adjacent to the Center sits on land that is not developable due to rocky soil underneath. Thereby, minimal risk exists of future retail centers entering into the immediate market.