OFFERING SUMMARY

Elizabeth City Crossing is a well established retail property located in Elizabeth City, North Carolina. It sits on the heavily trafficked Highway 17, the direct thoroughfare into Elizabeth City. The 96,416 square foot center is currently 99% occupied with one 1200 square foot vacancy. The anchor tenants, Farm Fresh and Big Lots, contribute 89% of total income for the center. Farm Fresh grocery and pharmacy has strong sales of approximately $400,000 per week or $330 per square foot.

SUBMARKET OVERVIEW

Elizabeth City is part of the greater Hampton Roads market, the Virginia Beach-Norfolk-Newport News, VA-NC MSA, which has a 2010 census population of approximately 1.6 million. The center is located at the heavily trafficked intersection of W Eringhaus Street and S Hughes Blvd (Hwy 17), which have vehicle counts of 21,000 and 19,000 vehicles per day. The United States Coast Guard is the largest single employer in Elizabeth City, with 7,700 enlisted personnel.