OFFERING SUMMARY

Berkeley Capital Advisors is pleased to present the offering memorandum for Millpond Village, a neighborhood-oriented shopping center located in Cary, North Carolina. Millpond Village is anchored by Lowes Foods and includes 88,388 SF of retail space.

SUBMARKET OVERVIEW

The Raleigh-Cary MSA is the 50th-largest city in the United States and the second largest city in North Carolina after Charlotte. The area's population, after expanding by over 40% between 1980 and 1990, continues to experience steady growth at average annual rate in the range of 3%. The presence of the Research Triangle Park, state government offices and the universities (Duke, UNC-Chapel Hill and NC State) will continue to have a stabilizing influence on the area's economy.

Millpond Village is well-positioned among strong existing residential development. The neighborhoods surrounding the center are well-developed and bring stability to the center.