Glastonbury Retail/Mixed Use Development Site

Home , Connecticut Route 2

GLASTONBURY 13.55 ACRES RETAIL/MIXED USE GLASTONBURY DEVELOPMENT SITE CONNECTICUT

Ideally Located Development Site in Extremely High Barrier to Entry Market

EXIT 6

SALE OFFERING MEMORANDUM TABLE OF CONTENTS

Executive Summary

Property Description

Site Plans

Market Overview

Demographics

Brokers Opinion of Value

Lifestyle Center Development

Mixed-Use Development Summary

Conditions of Sale Summary

2 HARTFORD

EXIT 6

For More Information Please Contact The Joint Office Avison Young Team:

JOHN LOCKHART ANDREW FILLER Associate Principal 860.327.8310 860.327.8302 [email protected] [email protected]

JEFF ARSENAULT BRUCE WHIPPLE Principal | Retail Director | Capital Markets 617.366.1001 212.729.1293 2 [email protected] [email protected]

3 EXECUTIVE SUMMARY //

As exclusive agent, Avison Young is pleased to offer for sale the assembled parcels of 131 Griswold Street, 8E Main Street, 2B Griswold Street and 2980 Main Street, in the town of Glastonbury Connecticut. The combined parcels make a total 13.55 Acres in the heart of Glastonbury’s thriving commercial center. This combined site represents the only opportunity of such scale and ideal location within a tight and high barrier to entry market which has recently seen land sales at prices over $1,000,000/Acre.

The subject site is currently approved for an 100,000 +/- SF lifestyle retail center, a development which for a number of reasons the current owner was unable to bring to fruition. Abutting the highly trafficked Route 2 & Route 3 Juncture, any development at this site would have excellent visibility from these busy highways, as well as excellent regional accessibility.

While the Town of Glastonbury itself is around 52 Square Miles, its commercial heart is condensed into two retail amenity rich areas that are destination for the Town of Glastonbury’s residents and residents of the neighboring towns. Sporting an especially excellent selection of restaurants, Glastonbury functions as the regional fine dining hub for the communities that are East of the Farmington River. Nestled just 7 miles southeast of Hartford, its central Connecticut location offers convenient access to all of the Northeast’s major cities while maintaining the luxury of a prosperous suburban community.

As one of Connecticut’s oldest municipalities, Glastonbury is dedicated to preserving its numerous parks, historic sites and river front property and supports a highly active community of over 34,000 residents. Proud to be well-known for excellent municipal management, outstanding public education, historic character and exceptionally high quality of life. Town residents and government alike contribute to Glastonbury’s long-standing status as a phenomenal place to work, live and do business. Glastonbury is a town which is always changing and growing, as such there are many new developments currently under construction in the Town. As a testament to the Town’s continued growth and wealthy demographic amongst these new developments are a collective 500+/- new luxury apartments, set to arrive on the market between the end of this year and 2019.

The subject 13.55 Acres certainly represents the best development opportunity in this wealthy Connecticut suburb, whether that development be a lifestyle retail center, or a mixed-use development consisting of multi-family apartments, senior living, and a retail accompaniment. Recent multi-family developments have seen density approvals of 26 Units / Acre. It is evident that when regarding the acreage, the location, and the development potential, this site is truly a unique opportunity.

PRICING & PROCESS Our client is under time constraints regarding the sale of this property. A successful sale of this site necessitates that it be under contract by the end of March at the latest, and set to close no less than six (6) months after. The asking Sales Price, which is under market, is set at $8,750,000

4 3

MAIN STREET

GRISWOLD STREET

ACREAGE PARCEL OWNED VIA 1.8576 N-2B Main Street Fee Simple 4.9493 E-8A Main Street Fee Simple 3.4904 131 Griswold Street Fee Simple 10.1973

2.5597 2980 Main Street Lease Hold 0.7889 Easement Area Dominant Easment 3.3486 13.4349

5 PROPERTY DESCRIPTION // SITE SPECIFICATIONS Address: Griswold Street Land Area: 1.8576 Acres Zoning: PT Ownership: Sakon John Alan Appraised Value: $91,000 Assessed Value: $63,700

SITE SPECIFICATIONS Address: Main Street Land Area: 4.9439 Acres Zoning: PT Ownership: Sakon John Alan Appraised Value: $267,400 Assessed Value: $187,200

SITE SPECIFICATIONS Address: 131 Griswold Street Land Area: 3.3904 Acres Zoning: PT Ownership: Sakon John Alan Appraised Value: $979,800 Assessed Value: $685,900

SITE SPECIFICATIONS Address: 2980 Main Street Land Area: 2.5597 Acres Zoning: PT Ownership: Sakon John Alan (By Leasehold) Appraised Value: $627,200 Assessed Value: $439,200

6 SITE SPECIFICATIONS Address: Griswold Street Land Area: 1.8576 Acres Zoning: PT Ownership: Sakon John Alan Appraised Value: $91,000 Assessed Value: $63,700

SITE SPECIFICATIONS Address: Main Street Land Area: 4.9439 Acres Zoning: PT Ownership: Sakon John Alan Appraised Value: $267,400 Assessed Value: $187,200

SITE SPECIFICATIONS Address: 131 Griswold Street Land Area: 3.3904 Acres Zoning: PT Ownership: Sakon John Alan Appraised Value: $979,800 Assessed Value: $685,900

SITE SPECIFICATIONS Address: 2980 Main Street Land Area: 2.5597 Acres Zoning: PT Ownership: Sakon John Alan (By Leasehold) Appraised Value: $627,200 Assessed Value: $439,200

7 SITE PLANS //

APPROVED DEVELOPMENT PLAN DETAILS DIMENSIONAL REQUIREMENT REQUIRED PROPOSED Minimum Lot Size 10 acres 13.55 acres Maximum Building Coverage 118,048 SF 94,240 SF

BUILDING SETBACKS Front Yard 75 FT 75 FT Side Yard 50 FT 50 FT Rear Yard 50 FT 50 FT Maximum Building Height 35 FT 34 FT Maximum Stories 2.5 2.0 Minimum Space Size 9’ x 18’ x 22’ AISLE 9’ x 18’ x (18’ x 24’ AISLE) Open Space 188,480 SF 255,5445 SF***

PARKING REQUIREMENTS REQUIRED PROVIDED Phase I

Parking Spaces 291 317 Loading Spaces N/A 110

PARKING REQUIREMENTS REQUIRED PROVIDED Phase II

Parking Spaces 101 98 Loading Spaces 3 6

Total Phase I & II

Parking Spaces 389 415 Deferred Spaces N/A 110

Loading Requirements 1. Minimum of one (1) space for each 10,000 sf of floor area 2. Minimum space size: 10’ x 50’

Loading spaces required = 9.4 Loading areas (94,240 sf/10,000 sf) Loading spaces provided = 9 loading areas

** Open space includes all sidewalk areas on-site (82,500 sf). *** 575 Spaces can be supplied of which 48 spaces shall be designated as deferred spaces. Refer to the alternative parking layout for the location of the deferred parking areas. If the deferred parking stalls are required to be constructed then 51 spaces shall be constructed as compact spaces (8’ x 18’).

8 PREPARED BY: PREPARED 97 Parkway Libbey Industrial MA Weymouth, MA E:\Sakon Development\051079bre\dwg\exhibit\051079POD03-Color.dwgE:\Sakon Jan 18, 2008 - 9:15am · ME 02189 · NJ · PA · VA ·

MI THE SHOPPES AT AVALON AT SHOPPES THE f 781 337 0827 337 f 781 t 781 803 9100 803 781 t ·

IL PLAN OF DEVELOPMENT OF PLAN · FL

MAIN STREET MAIN STREET & GRISWOLD STREET GRISWOLD & STREET MAIN

GLASTONBURY, CONNECTICUT GLASTONBURY,

50'

67 EASTERN BOULEVARD, GLASTONBURY, CONNECTICUT 06033 CONNECTICUT GLASTONBURY, 67 BOULEVARD, EASTERN

3,000 S.F. S.F. 3,000 3,000

CONNECTICUT ROUTE 3

DUTTON & JOHNSTON, LLC & JOHNSTON, DUTTON

PHONE: (860)-633-9401 FAX: (860)-633-8851PHONE: DATE: 07.07.07 DATE:

"NO RIGHT "NO

TURN"

ENTER"

"DO NOT "DO

LAND SURVEYORS & CIVIL ENGINEERS LAND SURVEYORS STOP

"NO RIGHT "NO

TURN"

ENTER"

"DO NOT "DO

50'

STOP 39

35 37

"NO RIGHT "NO

TURN"

1950 sf 1950

retail P 101

restaurant 5000 sf 5000

102

5400 sf 5400

retail 804 1000 AVENUE BRIDGEPORT SUITE SUITE 320 SHELTON, CONNECTICUT SHELTON, TIGHE & BOND

2060 sf 803

50' retail 2060 sf 802

retail

3000 sf 3000 retail

BREWSTER ROAD

801 35

(PRIVATE) 34.5

35.5

33 35

30.0

34 36 32

P 31

34.5 60 50'

PREPARED FOR: PREPARED

3480 sf 3480

retail

703 33

32 31 36 37 37.5 36 37.5 37 36

0 35

2500 sf 2500

retail 702

37.5

34 30

GRAPHIC SCALE GRAPHIC 1500 sf 1500

37 37 retail 701 1 inch = 1

60 42

( IN FEET ( IN )

50' 42

P 41 P 42 36 44 43 45 46 46 60 45 43 44

42 41 50' 43 120

ft.

40 50'

P (TYP.) SETBACK BUILDING

5600 sf 5600

44 6,000 sf 6,000

301

retail

602 45

302

6075 sf 6075

180 P retail

4480 sf 4480

retail

601

303

4960 sf 4960

retail 507 3800 sf

retail restaurant

4135 sf 4135

401 506 4000 sf

retail

P 402 505 2340 sf 4000 sf retail

retail

2000 sf 2000

coffee

shop

403

504 P 4700 sf

retail

3600 sf 3600

retail 503

11,600 S.F. 11,600

retail 502

75'

50'

P FP

75'

P RAMP OFF 2, ROUTE CONNECTICUT

Sign

GRISWOLD STREET GRISWOLD

P CONNECTICUT ROUTE 2 ROUTE CONNECTICUT

P CONNECTICUT ROUTE 2, OFF RAMP OFF 2, ROUTE CONNECTICUT

CT GRID Sign 9 SITE PLANS //

UNAPPROVED HOTEL DEVELOPMENT PLAN SHOPPES AT AVALON PROPOSED USES Restaurant 3,480 SF Retail 57,400 SF Total Shopping Center GLA 60,880 SF Hotel 88,810 SF 160 Rooms Total Gross Area 149,690 SF

PROPOSED PARKING PROGRAM Parking Calculation = 60,880 x 0.75* x 5/1000 228 Spaces Adjustment per Appendix A = 4.00 / 1000 16 Spaces Hotel 160 rooms @ 1 space / room 160 Spaces Calculated Spaces Predicated Upon Use 404 Spaces** PARKING PROVIDED: 429 Spaces *25% Reduction in gla to account for areas of non-public use ** Shared parking reductions not applied

ZONING TABLE PLANNED AREA DEVELOPMENT Minimum Track Size Required-5 Acres Provided-13.55 Acres

Uses Permitted Building zone regulations section 5 & 6 Uses Proposed Retail (defined as business services, professional offices, personal services and accessory uses.) Service Restaurant (defined as hotel and hotel functions, restaurant, meeting and banquet rooms and Hotel accessory uses)

Building Intensity (Coverage): Permitted 33.3% Proposed 14% Drives And Parking Areas Proposed 38% Vegetated Areas And Walks Proposed 48%

Building Height Permitted: No building shall exceed 35 feet except that the council may allow buildings to have a greater height when fire fighting is satisfactory Proposed: 70 Feet To The Highest Occupied Floor Note: The location of the existing building (The former Hitchcock Building ) was approved by a variance granted to the State of Connecticut Department of Transportation (1985)

10 PUBLIC - PRIVATE PARTNERSHIP ROAD THE SHOPPES AT AVALON DATE: 08.24.09/12.29.09/01.27.2010/01.29.2010/02.18.2010 PLAN OF DEVELOPMENT MAIN STREET & GRISWOLD GLASTONBURY CONNECTICUT

ROUTE 3 - SOUTHBOUND

ROUTE 3 - NORTHBOUND

ROUTE 2 - WESTBOUND - 2 ROUTE ROUTE 2 - EASTBOUND - 2 ROUTE

11 12 13 14 15 MARKET OVERVIEW //

LOCATION SUMMARY Of the Hartford suburbs that lie to the capital city’s East, Glastonbury is by far the wealthiest, a condition that owes to Hartford’s insurance boom, the Town’s proximity to the city. During that time, an opportunity was recognized and captured in the creation of a slightly more rural but equally amenity filled West Hartford type suburb East of the river, catering to the growing influx of high earning white collared workers. The aforementioned period saw boom of concentrated development near Glastonbury’s town center. A twenty some year string of Town administrations have sought to cultivate this concentration of business and wealth, while also maintaining the quaint rural aspects of the town.

Currently Glastonbury stands out in the Greater Hartford market in a manner similar to West Hartford in that it is well run, well maintained, and that its future prospects seem to hold additional development and continued prosperity.

16 // MARKET OVERVIEW

LOCATION DESCRIPTION Directly south of the subject property site and located on Griswold Street are the Brewster Condominiums, The Lutheran Church of St. Mark, a small retail center (fencing dealer, pool supplies, antique dealer, pet food supplier), and The Foundations for Learning.

The corner of Main Street and Griswold Street (a.k.a. Glastonbury Boulevard) is a major retail intersection. A small strip center anchored by Pier One Imports with Bertuccis, UPS, Wild Bird Store, Anytime Fitness, Century 21, a cleaners, Subway, and Sprint is located on the southeast corner, Walgreens is on the northeast corner. Cumberland Farms is on the southwest corner and McDonalds is on the northwest corner. Further north on Main Street is a Valvoline, Five Guys and a vacant Mobil station that back up to the subject site.

Approximately on quarter mile south on Main Street in Glastonbury is Fox Run Mall anchored by a Whole Foods, Peoples United Bank, and several small retailers on the northern and southern sides of a large parking area that include a nail salon, State Farm, Supercuts, a Pizza restaurant, Petco, and GNC.

Main Street in the area immediately north of CT Route 3 and the subject site has a mature grocery anchored shopping center with Shop Rite, Home Depot, Staples, Petsmart, T.J. Maxx and Wells Fargo. Approximately 50% of this shopping district is in Glastonbury and the other 50% northern portion is located in East Hartford, CT.

Located to west, on the south side of Glastonbury Blvd., is The Shops at Somerset Square. This is a high-end retail lifestyle center that was designed by Robert A.M. Stern and recently acquired by the Rouse Properties for approximately $42.0 million. Retailers include Talbots, Starbucks, Joseph A. Banks, Victoria’s Secret, Ann Taylor, Chicos, Lux Bond, AT&T, B. Good, Chipotle Mexican Grill, and several other retailers. Class A, low rise, office properties are located to the immediate west of the shopping district that have commercial tenants that include Wells Fargo Advisors; May Bonnee & Walsh, RBC Wealth Management, and law firms.

17 AMENITIES & NEIGHBORING BUSINESSES //

14 2 7 6 1 8 1 10 9 2 3 11 5 18 3 4 13 4 12 19

21 16 20

15 17

AMENITIES KEY 1. Home Depot 8. Michaels 15. Chili’s 2. PetSmart 9. Olympia Sports 16. McDonald’s 3. Staples 10. Barnes & Noble 17. Walgreens 4. 99 Restaurants 11. AT&T 18. Hilton Garden Inn 5. ShopRite SuperMarket 12. Starbucks 19. Homewood Suites 6. Party City 13. Chico’s 20. Five Guys 7. T.J. Maxx 14. Stop & Shop 21. Valvoline

18 //AMENITIES & NEIGHBORING BUSINESSES

EXIT 6

NEIGHBORING BUSINESSES KEY 1. Home Depot 8. Michaels 15. Chili’s 1. Wells Fargo Advisors 2. PetSmart 9. Olympia Sports 16. McDonald’s 2. RBC Wealth Management 3. Staples 10. Barnes & Noble 17. Walgreens 3. Bank of America Business Capital 4. 99 Restaurants 11. AT&T 18. Hilton Garden Inn 4. Liberty Mutual Insurance 5. ShopRite SuperMarket 12. Starbucks 19. Homewood Suites 5. United Financial Bancorp 6. Party City 13. Chico’s 20. Five Guys 7. T.J. Maxx 14. Stop & Shop 21. Valvoline

19 DEMOGRAPHICS // GLASTONBURY

Population Summary 2000 Total Population 31,876 2010 Total Population 34,427 2017 Total Population 34,768 2017 Group Quarters 339 2022 Total Population 35,111 2017-2022 Annual Rate 0.20% 2017 Total Daytime Population 35,530 Workers 19,259 Residents 16,271 Household Summary 2000 Households 12,257 2000 Average Household Size 2.57 2010 Households 13,135 2010 Average Household Size 2.59 2017 Households 13,222 2017 Average Household Size 2.60

20 2022 Households 13,326 2022 Average Household Size 2.61 2017-2022 Annual Rate 0.16% 2010 Families 9,484 2010 Average Family Size 3.10 2017 Families 9,460 2017 Average Family Size 3.13 2022 Families 9,494 2022 Average Family Size 3.14 2017-2022 Annual Rate 0.07% Housing Unit Summary 2000 Housing Units 12,614 Owner Occupied Housing Units 79.4% Renter Occupied Housing Units 17.8% Vacant Housing Units 2.8% Housing Unit Summary 2010 Housing Units 13,656 Owner Occupied Housing Units 80.4% Renter Occupied Housing Units 15.8% Vacant Housing Units 3.8% 2017 Housing Units 13,834 Owner Occupied Housing Units 77.4% Renter Occupied Housing Units 18.2% Vacant Housing Units 4.4% 2022 Housing Units 14,004 Owner Occupied Housing Units 77.0% Renter Occupied Housing Units 18.2% Vacant Housing Units 4.8% Median Household Income 2017 $112,357 2022 $120,907 Median Home Value 2017 $353,127 2022 $385,003 Per Capita Income 2017 $57,195 2022 $63,744 Median Age 2010 43.0 2017 45.5 2022 47.1

Data Note: Household population includes persons not residing in group quarters. Average Household Size is the household population divided by total households. Persons in families include the householder and persons related to the householder by birth, marriage, or adoption. Per Capita Income represents the income received by all persons aged 15 years and over divided by the total population. Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

21 2017 Households by Income Household Income Base 13,222 <$15,000 3.5% $15,000 - $24,999 4.9% $25,000 - $34,999 3.2% $35,000 - $49,999 6.7% $50,000 - $74,999 13.2% $75,000 - $99,999 11.0% $100,000 - $149,999 22.1% $150,000 - $199,999 13.9% $200,000+ 21.5% Average Household Income $149,721 2022 Households by Income Household Income Base 13,326 <$15,000 3.4% $15,000 - $24,999 4.5% $25,000 - $34,999 2.9% $35,000 - $49,999 5.9% $50,000 - $74,999 11.3% $75,000 - $99,999 10.1% $100,000 - $149,999 22.6% $150,000 - $199,999 15.1% $200,000+ 24.2% Average Household Income $167,280 2017 Owner Occupied Housing Units by Value Total 10,704 <$50,000 1.7% $50,000 - $99,999 1.6% $100,000 - $149,999 2.7% $150,000 - $199,999 6.2% $200,000 - $249,999 9.9% $250,000 - $299,999 13.0% $300,000 - $399,999 27.8% $400,000 - $499,999 14.4% $500,000 - $749,999 16.6% $750,000 - $999,999 4.2% $1,000,000 + 1.8% Average Home Value $398,524 2022 Owner Occupied Housing Units by Value Total 10,778 <$50,000 0.8% $50,000 - $99,999 0.8% $100,000 - $149,999 1.1% $150,000 - $199,999 2.8%

22 $200,000 - $249,999 5.0% $250,000 - $299,999 14.2% $300,000 - $399,999 29.6% $400,000 - $499,999 16.7% $500,000 - $749,999 20.3% $750,000 - $999,999 5.7% $1,000,000 + 2.8% Average Home Value $448,831

Data Note: Income represents the preceding year, expressed in current dollars. Household income includes wage and salary earnings, interest dividends, net rents, pensions, SSI and welfare payments, child support, and alimony. Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

2022 Owner Occupied Housing Units by Value $500,000 - $749,999 20.3% $750,000 - $999,999 5.7% $1,000,000 + 2.8% Average Home Value $448,831

2010 Population by Age Total 34,427 0 - 4 5.1% 5 - 9 7.6% 10 - 14 8.5% 15 - 24 10.2% 25 - 34 7.4% 35 - 44 14.5% 45 - 54 18.7% 55 - 64 13.5% 65 - 74 7.5% 75 - 84 4.5% 85 + 2.4% 18 + 73.5% 2017 Population by Age Total 34,768 0 - 4 4.4% 5 - 9 5.7% 10 - 14 7.5% 15 - 24 12.4% 25 - 34 8.8% 35 - 44 10.5% 45 - 54 16.4%

23 55 - 64 15.9% 65 - 74 10.4% 75 - 84 5.2% 85 + 2.8% 18 + 77.2% 2022 Population by Age Total 35,111 0 - 4 4.3% 5 - 9 5.1% 10 - 14 6.2% 15 - 24 11.1% 2022 Population by Age 25 - 34 9.8% 35 - 44 11.0% 45 - 54 13.6% 55 - 64 16.9% 65 - 74 12.2% 75 - 84 6.8% 85 + 2.9% 18 + 79.7% 2010 Population by Sex Males 16,394 Females 18,033 2017 Population by Sex Males 16,490 Females 18,278 2022 Population by Sex Males 16,662 Females 18,449

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

2010 Population by Race/Ethnicity Total 34,427 White Alone 88.3% Black Alone 2.0% American Indian Alone 0.2% Asian Alone 6.8% Pacific Islander Alone 0.0% Some Other Race Alone 1.0% Two or More Races 1.7% Hispanic Origin 4.3% Diversity Index 27.9 2017 Population by Race/Ethnicity Total 34,768

24 White Alone 84.6% Black Alone 2.5% American Indian Alone 0.2% Asian Alone 9.1% Pacific Islander Alone 0.0% Some Other Race Alone 1.4% Two or More Races 2.2% Hispanic Origin 5.9% Diversity Index 35.6 2022 Population by Race/Ethnicity Total 35,111 White Alone 81.6% Black Alone 2.9% American Indian Alone 0.3% Asian Alone 11.1% Pacific Islander Alone 0.0% Some Other Race Alone 1.7% Two or More Races 2.5% Hispanic Origin 7.4% Diversity Index 41.5 2010 Population by Relationship and Household Type Total 34,427 In Households 99.0% In Family Households 86.5% Householder 27.5% Spouse 23.3% Child 32.6% Other relative 2.0% Nonrelative 1.0% In Nonfamily Households 12.5% In Group Quarters 1.0% Institutionalized Population 0.8% Noninstitutionalized Population 0.2%

Data Note: Persons of Hispanic Origin may be of any race. The Diversity Index measures the probability that two people from the same area will be from different race/ ethnic groups. Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

25 2017 Population 25+ by Educational Attainment Total 24,359 Less than 9th Grade 1.6% 9th - 12th Grade, No Diploma 2.0% High School Graduate 13.4% GED/Alternative Credential 1.3% Some College, No Degree 12.6% Associate Degree 6.2% Bachelor’s Degree 30.7% Graduate/Professional Degree 32.3% 2017 Population 15+ by Marital Status Total 28,658 Never Married 26.4% Married 57.7% Widowed 5.3% Divorced 10.7% 2017 Civilian Population 16+ in Labor Force Civilian Employed 96.2% Civilian Unemployed (Unemployment Rate) 3.8% 2017 Employed Population 16+ by Industry Total 18,845 Agriculture/Mining 0.5% Construction 3.9% Manufacturing 8.5% Wholesale Trade 2.7% Retail Trade 7.6% Transportation/Utilities 2.3% Information 1.7% Finance/Insurance/Real Estate 16.0% Services 53.3% Public Administration 3.5% 2017 Employed Population 16+ by Occupation Total 18,845 White Collar 83.3% Management/Business/Financial 27.9% Professional 34.1% Sales 11.9% Administrative Support 9.4% Services 9.8% Blue Collar 6.9% Farming/Forestry/Fishing 0.1% Construction/Extraction 2.3% Installation/Maintenance/Repair 1.1% Production 2.3% Transportation/Material Moving 1.1%

26 2010 Population By Urban/ Rural Status Total Population 34,427 Population Inside Urbanized Area 89.2% Population Inside Urbanized Cluster 0.0% Rural Population 10.8%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

2010 Households by Type Total 13,135 Households with 1 Person 23.5% Households with 2+ People 76.5% Family Households 72.2% Husband-wife Families 61.1% With Related Children 30.4% Other Family (No Spouse Present) 11.1% Other Family with Male Householder 2.8% With Related Children 1.6% Other Family with Female Householder 8.4% With Related Children 5.1% Nonfamily Households 4.3%

All Households with Children 37.4%

Multigenerational Households 2.3% Unmarried Partner Households 4.4% Male-female 3.6% Same-sex 0.8% 2010 Households by Size Total 13,135 1 Person Household 23.5% 2 Person Household 33.4% 3 Person Household 16.0% 4 Person Household 17.8% 5 Person Household 6.5% 6 Person Household 2.1% 7 + Person Household 0.6% 2010 Households by Tenure and Mortgage Status Total 13,135 Owner Occupied 83.6% Owned with a Mortgage/Loan 62.0% Owned Free and Clear 21.6% Renter Occupied 16.4% 2010 Housing Units By Urban/ Rural Status Total Housing Units 13,656

27 2010 Households by Tenure and Mortgage Status Housing Units Inside Urbanized Area 90.1% Housing Units Inside Urbanized Cluster 0.0% Rural Housing Units 9.9%

Data Note: Households with children include any households with people under age 18, related or not. Multigenerational households are families with 3 or more parent-child relationships. Unmarried partner households are usually classified as nonfamily households unless there is another member of the household related to the householder. Multigenerational and unmarried partner households are reported only to the tract level. Esri estimated block group data, which is used to estimate polygons or non-standard geography. Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

Top 3 Tapestry Segments 1. Professional Pride (1B) 2. Savvy Suburbanites (1D) 3. In Style (5B) 2017 Consumer Spending Apparel & Services: Total $ $51,820,947 Average Spent $3,919.30 Spending Potential Index 181 Education: Total $ $40,352,535 Average Spent $3,051.92 Spending Potential Index 210 Entertainment/Recreation: Total $ $74,569,514 Average Spent $5,639.81 Spending Potential Index 181 Food at Home: Total $ $112,798,877 Average Spent $8,531.15 Spending Potential Index 169 Food Away from Home: Total $ $77,826,014 Average Spent $5,886.10 Spending Potential Index 177 Health Care: Total $ $131,806,650 Average Spent $9,968.74 Spending Potential Index 178 HH Furnishings & Equipment: Total $ $46,497,339 Average Spent $3,516.66 Spending Potential Index 181 Personal Care Products & Services: Total $ $19,256,205 Average Spent $1,456.38 Spending Potential Index 183 Shelter: Total $ $390,052,318 Average Spent $29,500.25 Spending Potential Index 182 Support Payments/Cash Contributions/Gifts in Kind: Total $ $58,487,794 Average Spent $4,423.52 Spending Potential Index 189 Travel: Total $ $54,365,521 Average Spent $4,111.75

28 2017 Consumer Spending Spending Potential Index 198 Vehicle Maintenance & Repairs: Total $ $24,875,280 Average Spent $1,881.36 Spending Potential Index 175

Data Note: Consumer spending shows the amount spent on a variety of goods and services by households that reside in the area. Expenditures are shown by broad budget categories that are not mutually exclusive. Consumer spending does not equal business revenue. Total and Average Amount Spent Per Household represent annual figures. The Spending Potential Index represents the amount spent in the area relative to a national average of 100. Source: Consumer Spending data are derived from the 2013 and 2014 Consumer Expenditure Surveys, Bureau of Labor Statistics. Esri. Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

29 DEMOGRAPHICS // DRIVE RADIUS

5 Minutes 15 Minutes 30 Minutes 2000 Total Population 5,640 197,705 904,018 2010 Total Population 5,507 204,083 946,228 2017 Total Population 5,626 207,585 958,893 2017 Group Quarters 132 5,441 27,751 2022 Total Population 5,714 210,229 968,783 2017-2022 Annual Rate 0.31% 0.25% 0.21% 2017 Total Daytime Population 10,929 296,538 1,049,607 Workers 8,210 189,381 583,182 Residents 2,719 107,157 466,425

Household Summary 2000 Households 2,424 79,555 357,251 2000 Average Household Size 2.27 2.41 2.45 2010 Households 2,432 81,379 375,550 2010 Average Household Size 2.21 2.44 2.44 2017 Households 2,497 82,342 378,276 2017 Average Household Size 2.20 2.45 2.46

30 Household Summary 2022 Households 2,542 83,185 380,970 2022 Average Household Size 2.20 2.46 2.47 2017-2022 Annual Rate 0.36% 0.20% 0.14% 2010 Families 1,385 49,742 239,094 2010 Average Family Size 2.92 3.10 3.05 2017 Families 1,394 49,787 239,048 2017 Average Family Size 2.93 3.14 3.08 2022 Families 1,405 50,047 239,964 2022 Average Family Size 2.94 3.15 3.09 2017-2022 Annual Rate 0.16% 0.10% 0.08%

Housing Unit Summary 2000 Housing Units 2,538 85,199 377,712 Owner Occupied Housing Units 53.2% 46.6% 58.6% Renter Occupied Housing Units 42.4% 46.7% 35.9% Vacant Housing Units 4.5% 6.6% 5.4% 2010 Housing Units 2,556 88,288 402,041 Owner Occupied Housing Units 54.8% 47.2% 59.2% Renter Occupied Housing Units 40.4% 45.0% 34.2% Vacant Housing Units 4.9% 7.8% 6.6% 2017 Housing Units 2,621 90,171 408,760 Owner Occupied Housing Units 50.4% 44.0% 55.9% Renter Occupied Housing Units 44.9% 47.4% 36.6% Vacant Housing Units 4.7% 8.7% 7.5% 2022 Housing Units 2,680 91,385 414,079 Owner Occupied Housing Units 50.7% 43.6% 55.5% Renter Occupied Housing Units 44.1% 47.4% 36.5% Vacant Housing Units 5.1% 9.0% 8.0% Median Household Income 2017 $64,045 $51,840 $63,897 2022 $72,431 $55,429 $71,126 Median Home Value 2017 $208,984 $236,134 $239,017 2022 $254,915 $274,626 $277,706 Per Capita Income 2017 $35,203 $31,467 $35,735 2022 $40,156 $35,412 $40,216 Median Age 2010 41.2 37.2 39.4 2017 42.5 38.2 40.5 2022 43.0 39.1 41.3

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

31 5 Minutes 15 Minutes 30 Minutes 2017 Households by Income Household Income Base 2,497 82,342 378,276 <$15,000 10.6% 16.5% 10.8% $15,000 - $24,999 10.3% 10.5% 8.9% $25,000 - $34,999 7.6% 8.6% 7.5% $35,000 - $49,999 9.7% 12.8% 12.4% $50,000 - $74,999 18.1% 14.8% 16.2% $75,000 - $99,999 15.9% 11.3% 12.8% $100,000 - $149,999 18.3% 13.4% 16.9% $150,000 - $199,999 6.2% 6.0% 7.5% $200,000+ 3.3% 6.0% 7.0% Average Household Income $78,617 $77,929 $89,186 2022 Households by Income Household Income Base 2,542 83,185 380,970 <$15,000 10.5% 16.5% 10.8% $15,000 - $24,999 9.4% 10.1% 8.5% $25,000 - $34,999 6.9% 8.0% 6.9% $35,000 - $49,999 8.4% 11.7% 11.3% $50,000 - $74,999 15.9% 13.2% 14.2% $75,000 - $99,999 15.5% 11.1% 12.2% $100,000 - $149,999 21.2% 15.0% 18.7% $150,000 - $199,999 7.7% 7.1% 9.0% $200,000+ 4.4% 7.2% 8.4% Average Household Income $89,709 $88,126 $100,898 2017 Owner Occupied Housing Units by Value Total 1,322 39,609 228,460 <$50,000 2.3% 2.7% 2.0% $50,000 - $99,999 2.4% 4.0% 3.0% $100,000 - $149,999 11.3% 9.4% 9.3% $150,000 - $199,999 30.6% 20.4% 19.9% $200,000 - $249,999 19.4% 18.7% 20.2% $250,000 - $299,999 16.7% 15.0% 15.9% $300,000 - $399,999 9.3% 16.2% 16.1% $400,000 - $499,999 5.2% 6.7% 7.3% $500,000 - $749,999 2.9% 5.3% 4.4% $750,000 - $999,999 0.0% 1.1% 1.0% $1,000,000 + 0.0% 0.5% 0.8% Average Home Value $233,510 $270,502 $273,927 2022 Owner Occupied Housing Units by Value Total 1,360 39,860 229,752 <$50,000 1.8% 2.1% 1.5% $50,000 - $99,999 1.8% 3.0% 2.2% $100,000 - $149,999 8.2% 6.8% 6.7% $150,000 - $199,999 21.6% 14.6% 13.7%

32 2022 Owner Occupied Housing Units by Value $200,000 - $249,999 13.9% 13.5% 14.2% $250,000 - $299,999 25.8% 20.3% 21.1% $300,000 - $399,999 13.9% 20.7% 21.3% $400,000 - $499,999 7.8% 8.9% 10.0% $500,000 - $749,999 4.9% 7.5% 6.4% $750,000 - $999,999 0.0% 1.7% 1.6% $1,000,000 + 0.1% 0.8% 1.2% Average Home Value $267,826 $308,178 $313,707

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

2010 Population by Age Total 5,508 204,082 946,231 0 - 4 5.4% 6.6% 5.8% 5 - 9 5.6% 6.5% 6.1% 10 - 14 5.9% 6.6% 6.5% 15 - 24 11.8% 13.3% 13.4% 25 - 34 13.0% 14.2% 12.8% 35 - 44 13.9% 13.3% 13.3% 45 - 54 14.9% 14.8% 15.5% 55 - 64 12.0% 11.4% 12.3% 65 - 74 7.0% 6.6% 7.0% 75 - 84 6.3% 4.4% 4.7% 85 + 4.1% 2.3% 2.5% 18 + 78.9% 76.1% 77.5% 2017 Population by Age Total 5,628 207,584 958,891 0 - 4 4.9% 6.0% 5.3% 5 - 9 4.9% 6.1% 5.6% 10 - 14 5.3% 6.2% 6.0% 15 - 24 11.3% 13.1% 13.0% 25 - 34 14.1% 14.5% 13.2% 35 - 44 12.5% 12.3% 12.2% 45 - 54 12.5% 13.3% 13.7% 55 - 64 14.3% 12.8% 13.8% 65 - 74 9.2% 8.7% 9.5% 75 - 84 6.5% 4.5% 4.8% 85 + 4.5% 2.5% 2.7% 18 + 81.7% 77.9% 79.3% 2022 Population by Age Total 5,714 210,228 968,785 0 - 4 4.9% 6.0% 5.3% 5 - 9 4.6% 5.8% 5.3%

33 2022 Population by Age 10 - 14 4.9% 6.0% 5.8% 15 - 24 9.9% 11.9% 12.0% 25 - 34 15.1% 14.8% 13.4% 35 - 44 13.2% 13.0% 12.9% 45 - 54 10.8% 12.1% 12.4% 55 - 64 14.0% 13.0% 13.7% 65 - 74 10.7% 9.8% 10.8% 75 - 84 7.5% 5.2% 5.7% 85 + 4.5% 2.4% 2.6% 18 + 82.6% 78.6% 80.1% 2010 Population by Sex Males 2,501 98,283 455,931 Females 3,006 105,800 490,297 2017 Population by Sex Males 2,549 100,192 463,088 Females 3,077 107,392 495,805 2022 Population by Sex Males 2,586 101,774 469,309 Females 3,128 108,455 499,474

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

2010 Population by Race/Ethnicity Total 5,506 204,083 946,228 White Alone 74.4% 58.0% 71.8% Black Alone 9.5% 19.9% 13.6% American Indian Alone 0.4% 0.4% 0.3% Asian Alone 6.9% 5.3% 4.3% Pacific Islander Alone 0.0% 0.0% 0.0% Some Other Race Alone 5.9% 13.2% 7.2% Two or More Races 2.9% 3.2% 2.8% Hispanic Origin 13.3% 25.7% 16.2% Diversity Index 56.4 76.6 61.0 2017 Population by Race/Ethnicity Total 5,626 207,585 958,894 White Alone 69.3% 54.0% 68.0% Black Alone 10.3% 20.4% 14.5% American Indian Alone 0.5% 0.5% 0.4% Asian Alone 8.9% 6.2% 5.3% Pacific Islander Alone 0.0% 0.0% 0.0% Some Other Race Alone 7.5% 15.3% 8.6% Two or More Races 3.5% 3.6% 3.3% Hispanic Origin 16.9% 29.5% 19.4% Diversity Index 64.1 80.3 66.7

34 2022 Population by Race/Ethnicity Total 5,714 210,229 968,783 White Alone 65.5% 51.5% 65.3% Black Alone 10.9% 20.6% 15.0% American Indian Alone 0.5% 0.5% 0.4% Asian Alone 10.6% 7.1% 6.1% Pacific Islander Alone 0.0% 0.0% 0.0% Some Other Race Alone 8.6% 16.4% 9.5% Two or More Races 3.8% 3.8% 3.6% Hispanic Origin 19.7% 32.2% 21.9% Diversity Index 69.1 82.4 70.2 2010 Population by Relationship and Household Type Total 5,507 204,083 946,228 In Households 97.5% 97.2% 96.9% In Family Households 75.2% 78.3% 79.2% Householder 24.9% 24.4% 25.2% Spouse 16.2% 14.9% 17.6% Child 29.0% 31.8% 30.4% Other relative 3.3% 4.6% 3.8% Non-relative 1.9% 2.7% 2.2% In Non-family Households 22.2% 18.9% 17.7% In Group Quarters 2.5% 2.8% 3.1% Institutionalized Population 2.5% 1.6% 1.4% Non-institutionalized Population 0.0% 1.2% 1.6%

5 Minutes 15 Minutes 30 Minutes 2017 Population 25+ by Educational Attain- ment Total 4,144 142,509 671,831 Less than 9th Grade 3.4% 7.3% 4.7% 9th - 12th Grade, No Diploma 7.2% 8.5% 6.1% High School Graduate 24.3% 22.7% 24.4% GED/Alternative Credential 4.0% 4.0% 3.9% Some College, No Degree 22.0% 17.7% 17.1% Associate Degree 9.2% 7.1% 8.3% Bachelor’s Degree 14.0% 18.7% 20.5% Graduate/Professional Degree 15.8% 13.9% 15.1% 2017 Population 15+ by Marital Status Total 4,780 169,668 796,363 Never Married 36.4% 42.8% 37.9% Married 43.7% 40.5% 45.2% Widowed 6.5% 5.3% 5.6%

35 Divorced 13.4% 11.5% 11.3% 2017 Civilian Population 16+ in Labor Force Civilian Employed 94.7% 92.0% 93.4% Civilian Unemployed (Unemployment Rate) 5.3% 8.0% 6.6% 2017 Employed Population 16+ by Industry Total 2,970 101,135 499,010 Agriculture/Mining 0.4% 0.2% 0.2% Construction 4.1% 4.4% 5.2% Manufacturing 8.5% 8.7% 10.2% Wholesale Trade 2.5% 2.6% 2.6% Retail Trade 11.0% 10.7% 10.3% Transportation/Utilities 3.8% 4.7% 4.4% Information 1.3% 1.7% 2.0% Finance/Insurance/Real Estate 15.4% 11.5% 10.9% Services 47.9% 51.2% 49.7% Public Administration 5.0% 4.3% 4.5% 2017 Employed Population 16+ by Occupation Total 2,969 101,135 499,011 White Collar 69.0% 63.4% 65.7% Management/Business/Financial 21.5% 16.3% 16.2% Professional 23.2% 23.5% 26.1% Sales 10.7% 10.0% 10.3% Administrative Support 13.5% 13.6% 13.1% Services 16.7% 19.1% 16.7% Blue Collar 14.3% 17.4% 17.5% Farming/Forestry/Fishing 0.0% 0.2% 0.2% Construction/Extraction 3.5% 3.3% 3.8% Installation/Maintenance/Repair 1.3% 2.1% 2.8% Production 3.6% 5.8% 5.9% Transportation/Material Moving 5.9% 6.0% 5.0% 2010 Population By Urban/ Rural Status Total Population 5,507 204,083 946,228 Population Inside Urbanized Area 100.0% 99.0% 92.4% Population Inside Urbanized Cluster 0.0% 0.0% 1.8% Rural Population 0.0% 1.0% 5.7%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

2010 Households by Type Total 2,432 81,379 375,551 Households with 1 Person 37.0% 32.2% 29.5% Households with 2+ People 63.0% 67.8% 70.5% Family Households 56.9% 61.1% 63.7% Husband-wife Families 37.0% 37.3% 44.3% With Related Children 15.6% 16.8% 19.1% Other Family (No Spouse Present) 19.9% 23.8% 19.4%

36 2010 Households by Type Other Family with Male Householder 4.0% 5.0% 4.6% With Related Children 2.0% 2.6% 2.4% Other Family with Female Householder 15.9% 18.8% 14.8% With Related Children 10.3% 12.9% 9.5% Nonfamily Households 6.1% 6.6% 6.8% All Households with Children 28.3% 32.6% 31.3% Multigenerational Households 3.1% 4.2% 3.8% Unmarried Partner Households 6.9% 7.6% 7.3% Male-female 6.2% 6.8% 6.4% Same-sex 0.7% 0.8% 0.8% 2010 Households by Size Total 2,433 81,380 375,552 1 Person Household 37.0% 32.2% 29.5% 2 Person Household 30.4% 29.7% 32.2% 3 Person Household 15.3% 15.9% 16.2% 4 Person Household 11.0% 12.9% 13.3% 5 Person Household 4.1% 5.7% 5.7% 6 Person Household 1.6% 2.2% 2.0% 7 + Person Household 0.7% 1.4% 1.1% 2010 Households by Tenure and Mortgage Status Total 2,432 81,379 375,550 Owner Occupied 57.6% 51.2% 63.4% Owned with a Mortgage/Loan 42.5% 36.8% 46.3% Owned Free and Clear 15.1% 14.4% 17.0% Renter Occupied 42.4% 48.8% 36.6% 2010 Housing Units By Urban/ Rural Status Total Housing Units 2,556 88,288 402,041 Housing Units Inside Urbanized Area 100.0% 99.1% 92.9% Housing Units Inside Urbanized Cluster 0.0% 0.0% 1.9% Rural Housing Units 0.0% 0.9% 5.3%

37 Top 3 Tapestry Segments 1. Retirement Communities (9E) Fresh Ambitions (13D) Parks and Rec (5C) 2. City Lights (8A) Parks and Rec (5C) Savvy Suburbanites (1D) 3. Parks and Rec (5C) Front Porches (8E) Front Porches (8E) 2017 Consumer Spending Apparel & Services: Total $ $5,193,120 $174,934,991 $902,865,355 Average Spent $2,079.74 $2,124.49 $2,386.79 Spending Potential Index 96 98 111 Education: Total $ $3,798,114 $129,131,253 $670,764,717 Average Spent $1,521.07 $1,568.23 $1,773.22 Spending Potential Index 104 108 122 Entertainment/Recreation: Total $ $7,486,705 $243,366,797 $1,281,896,396 Average Spent $2,998.28 $2,955.56 $3,388.79 Spending Potential Index 96 95 109 Food at Home: Total $ $12,245,727 $403,973,275 $2,062,428,249 Average Spent $4,904.18 $4,906.04 $5,452.18 Spending Potential Index 97 97 108 Food Away from Home: Total $ $7,990,720 $265,307,860 $1,371,177,784 Average Spent $3,200.13 $3,222.02 $3,624.81 Spending Potential Index 96 97 109 Health Care: Total $ $13,519,459 $421,639,272 $2,253,807,386 Average Spent $5,414.28 $5,120.59 $5,958.10 Spending Potential Index 97 92 107 HH Furnishings & Equipment: Total $ $4,587,046 $149,580,679 $790,833,903 Average Spent $1,837.02 $1,816.58 $2,090.63 Spending Potential Index 94 93 108 Personal Care Products & Services: Total $ $1,951,218 $63,253,298 $330,539,117 Average Spent $781.42 $768.18 $873.80 Spending Potential Index 98 96 110 Shelter: Total $ $41,564,848 $1,375,127,672 $7,026,989,030 Average Spent $16,645.91 $16,700.20 $18,576.35 Spending Potential Index 103 103 114 Support Payments/Cash Contributions/Gifts $5,665,081 $176,913,268 $953,805,983 in Kind: Total $ Average Spent $2,268.75 $2,148.52 $2,521.46 Spending Potential Index 97 92 108 Travel: Total $ $5,041,976 $163,386,758 $879,163,320 Average Spent $2,019.21 $1,984.25 $2,324.13 Spending Potential Index 97 96 112 Vehicle Maintenance & Repairs: Total $ $2,561,678 $82,986,848 $436,194,425 Average Spent $1,025.90 $1,007.83 $1,153.11 Spending Potential Index 96 94 108

38 DEMOGRAPHICS // RETAIL TRADE AREA

Population Summary 2000 Total Population 221,500 2010 Total Population 233,496 2017 Total Population 235,430 2017 Group Quarters 2,631 2022 Total Population 237,234 2017-2022 Annual Rate 0.15% 2017 Total Daytime Population 213,458 Workers 104,503 Residents 108,955 Household Summary 2000 Households 87,682 2000 Average Household Size 2.46 2010 Households 92,869 2010 Average Household Size 2.48 2017 Households 92,936 2017 Average Household Size 2.50 2022 Households 93,322 2022 Average Household Size 2.51 2017-2022 Annual Rate 0.08% 2010 Families 62,043 2010 Average Family Size 3.03 2017 Families 61,730 2017 Average Family Size 3.06 2022 Families 61,828 2022 Average Family Size 3.07 2000 Housing Units 91,292

39 Household Summary Owner Occupied Housing Units 66.3% Renter Occupied Housing Units 29.7% Vacant Housing Units 4.0% 2010 Housing Units 97,689 Owner Occupied Housing Units 67.2% Renter Occupied Housing Units 27.9% Vacant Housing Units 4.9% 2017 Housing Units 99,107 Owner Occupied Housing Units 63.8% Renter Occupied Housing Units 30.0% Vacant Housing Units 6.2% 2022 Housing Units 100,292 Owner Occupied Housing Units 63.3% Renter Occupied Housing Units 29.7%

2017 $77,173

2017 $251,143

2017 $40,381

2010 40.7 2017 42.1 2022 42.9 Data Note: Household population includes persons not residing in group quarters. Average Household Size is the household population divided by total households.

Persons in families include the householder and persons related to the householder by birth, marriage, or adoption. Per Capita Income represents the income received by all persons aged 15 years and over divided by the total population.

2017 Households by Income Household Income Base 92,936 <$15,000 8.2% $15,000 - $24,999 7.0% $25,000 - $34,999 6.7% $35,000 - $49,999 11.1% $50,000 - $74,999 15.5% $75,000 - $99,999 13.9% $100,000 - $149,999 19.4% $150,000 - $199,999 8.9% $200,000+ 9.4% Average Household Income $101,565

40 2022 Households by Income Household Income Base 93,322 <$15,000 8.2% $15,000 - $24,999 6.6% $25,000 - $34,999 6.1% $35,000 - $49,999 10.0% $50,000 - $74,999 13.4% $75,000 - $99,999 13.1% $100,000 - $149,999 21.1% $150,000 - $199,999 10.4% $200,000+ 11.2% Average Household Income $114,862

2017 Owner Occupied Housing Units by Value Total 63,214 <$50,000 1.9% $50,000 - $99,999 2.5% $100,000 - $149,999 7.5% $150,000 - $199,999 18.7% $200,000 - $249,999 19.0% $250,000 - $299,999 15.6% $300,000 - $399,999 18.9% $400,000 - $499,999 8.2% $500,000 - $749,999 5.9% $750,000 - $999,999 1.1% $1,000,000 + 0.6% Average Home Value $287,285

2022 Owner Occupied Housing Units by Value Total 63,490 <$50,000 1.4% $50,000 - $99,999 1.8% $100,000 - $149,999 5.3% $150,000 - $199,999 12.8% $200,000 - $249,999 13.0% $250,000 - $299,999 19.9% $300,000 - $399,999 23.8% $400,000 - $499,999 10.9% $500,000 - $749,999 8.4% $750,000 - $999,999 1.8% $1,000,000 + 1.0% Average Home Value $327,585 Data Note: Income represents the preceding year, expressed in current dollars. Household income includes wage and salary earnings, interest dividends, net rents, pensions, SSI and welfare payments, child support, and alimony.

41 2010 Population by Age Total 233,496 0 - 4 5.8% 5 - 9 6.4% 10 - 14 6.9% 15 - 24 11.6% 25 - 34 12.0% 35 - 44 13.9% 45 - 54 16.7% 55 - 64 12.8% 65 - 74 7.2% 75 - 84 4.5% 85 + 2.3% 18+ 76.6%

2017 Population by Age Total 235,430 0 - 4 5.2% 5 - 9 5.8% 10 - 14 6.3% 15 - 24 11.8% 25 - 34 12.2% 35 - 44 12.3% 45 - 54 14.7% 55 - 64 14.6% 65 - 74 9.8% 75 - 84 4.8% 85 + 2.6% 18+ 78.7%

2022 Population by Age Total 237,234 0 - 4 5.1% 5 - 9 5.4% 10 - 14 6.0% 15 - 24 10.9% 25 - 34 12.5% 35 - 44 12.8% 45 - 54 13.0% 55 - 64 14.7% 65 - 74 11.3% 75 - 84 5.8% 85 + 2.5% 18+ 79.8%

42 2010 Population by Sex Males 112,458

Males 113,660

Males 114,918 Females 122,316

2010 Population by Race/Ethnicity Total 233,496 White Alone 77.9% Black Alone 9.8% American Indian Alone 0.3% Asian Alone 4.9% Pacific Islander Alone 0.0% Some Other Race Alone 4.5% Two or More Races 2.5% Hispanic Origin 11.0% 2017 Population by Race/Ethnicity Total 235,430 White Alone 74.1% Black Alone 10.8% American Indian Alone 0.3% Asian Alone 6.0% Pacific Islander Alone 0.0% Some Other Race Alone 5.7% Two or More Races 3.0% Hispanic Origin 13.9% 2022 Population by Race/Ethnicity Total 237,234 White Alone 71.5% Black Alone 11.4% American Indian Alone 0.4% Asian Alone 6.9% Pacific Islander Alone 0.0% Some Other Race Alone 6.5% Two or More Races 3.3% Hispanic Origin 16.1%

43 2010 Population by Relationship and Household Type Total 233,496 In Households 98.8% In Family Households 82.6% Householder 26.6% Spouse 19.7% Child 30.9% Other relative 3.4% Nonrelative 2.0% In Nonfamily Households 16.2% In Group Quarters 1.2% Institutionalized Population 0.8% Noninstitutionalized Population 0.4% Data Note: Persons of Hispanic Origin may be of any race. The Diversity Index measures the probability that two people from the same area will be from different race/ ethnic groups. 2017 Population by Race/Ethnicity Total 235,430 White Alone 74.1% Black Alone 10.8% American Indian Alone 0.3% Asian Alone 6.0% Pacific Islander Alone 0.0% Some Other Race Alone 5.7% Two or More Races 3.0% Hispanic Origin 13.9% 2017 Population 25+ by Educational Attainment Total 166,971 Less than 9th Grade 3.1% 9th - 12th Grade, No Diploma 4.6% High School Graduate 22.5% GED/Alternative Credential 3.3% Some College, No Degree 17.1% Associate Degree 8.7% Bachelor's Degree 23.5% Graduate/Professional Degree 17.2% 2017 Population 15+ by Marital Status Total 194,796 Never Married 33.3% Married 50.4% Widowed 5.0% Divorced 11.3% 2017 Civilian Population 16+ in Labor Force Civilian Employed 94.6% Civilian Unemployed (Unemployment Rate) 5.4%

44 2017 Employed Population 16+ in Labor Forces Total 128,697 Agriculture/Mining 0.3% Construction 4.8% Manufacturing 9.7% Wholesale Trade 2.8% Retail Trade 10.5% Transportation/Utilities 4.4% Information 2.0% Finance/Insurance/Real Estate 11.9% Services 48.9% Public Administration 4.7% 2017 Employed Population 16+ by Occupation Total 128,697 White Collar 69.7% Management/Business/Financial 18.5% Professional 27.7% Sales 10.6% Administrative Support 12.9% Services 14.8% Blue Collar 15.5% Farming/Forestry/Fishing 0.1% Construction/Extraction 3.2% Installation/Maintenance/Repair 3.1% Production 4.8% Transportation/Material Moving 4.4% 2010 Population By Urban/ Rural Status Total Population 233,496 Population Inside Urbanized Area 76.7% Population Inside Urbanized Cluster 8.1% Rural Population 15.1%

45 2010 Households by Type Total 92,869 Households with 1 Person 26.9% Households with 2+ People 73.1% Family Households 66.8% Husband-wife Families 49.6% With Related Children 21.9% Other Family (No Spouse Present) 17.2% Other Family with Male Householder 4.3% With Related Children 2.3% Other Family with Female Householder 12.9% With Related Children 8.2% Nonfamily Households 6.3%

All Households with Children 32.7%

Multigenerational Households 3.3% Unmarried Partner Households 6.7% Male-female 5.9% Same-sex 0.8% 2010 Households by Size Total 92,869 1 Person Household 26.9% 2 Person Household 33.4% 3 Person Household 16.6% 4 Person Household 14.4% 5 Person Household 5.8% 6 Person Household 1.9% 2010 Households by Tenure and Mortgage Status Total 92,869 Owner Occupied 70.7% Owned with a Mortgage/Loan 52.0% Owned Free and Clear 18.7% Renter Occupied 29.3% 2010 Housing Units by Urban/Rural Status Total Housing Units 97,689 Housing Units Inside Urbanized Area 78.3% Housing Unites Inside Urbanized Cluster 8.1% Rural Housing Units 13.7% Top 3 Tapestry Segments 1. Savvy Suburbanites (1D0 2. Parks and Rec (5C0 3. Front Porches (8E)

46 2017 Consumer Spending Apparel & Services: Total $ $251,050,382 Average Spent $2,701.33 Spending Potential Index 125 Education: Total $ $186,966,507 Average Spent $2,011.78 Spending Potential Index 138 Entertainment/Recreation: Total $ $358,489,335 Average Spent $3,857.38 Spending Potential Index 124 Food at Home: Total $ $566,659,047 Average Spent $6,097.30 Spending Potential Index 121 Food Away from Home: Total $ $381,574,352 Average Spent $4,105.78 Spending Potential Index 123 Health Care: Total $ $632,193,335 Average Spent $6,802.46 Spending Potential Index 122 HH Furnishings & Equipment: Total $ $222,277,472 Average Spent $2,391.73 Spending Potential Index 123 Personal Care Products & Services: Total $ $92,398,015 Average Spent $994.21 Spending Potential Index 125 Shelter: Total $ $1,929,270,732 Average Spent $20,759.13 Spending Potential Index 128 Support Payments/Cash Contributions/Gifts in Kind: Total $ $270,086,864 Average Spent $2,906.16 Spending Potential Index 124 Travel: Total $ $249,482,258 Average Spent $2,684.45 Spending Potential Index 130 Vehicle Maintenance & Repairs: Total $ $121,710,229 Average Spent $1,309.61 Spending Potential Index 122

47 Summary Demographics 2017 Population 235,430 2017 Households 92,936 2017 Median Disposable Income $55,787 2017 Per Capita Income $40,381 Industry Summary NAICS Demand (Retail Supply Retail Gap Leakage/ Number of potential) (Retail Sales) Surplus Businesses Factor Total Retail Trade and Food & Drink 44-45,722 $4,291,559,626 $3,781,304,451 $510,255,175 6.3 1,860 Total Retail Trade 44-45 $3,874,901,116 $3,397,149,720 $477,751,396 6.6 1,338 Total Food & Drink 722 $416,658,510 $384,154,731 $32,503,779 4.1 522 NAICS NAICS Demand (Retail Supply Retail Gap Leakage/ Number of Industry Group potential) (Retail Sales) Surplus Businesses Factor Motor Vehicle & Parts Dealers 441 $798,081,503 $718,157,725 $79,923,778 5.3 133 Automobile Dealers 4411 $655,272,774 $603,994,496 $51,278,278 4.1 58 Other Motor Vehicle Dealers 4412 $83,477,437 $66,952,142 $16,525,295 11.0 29 Auto Parts, Accessories & Tire Stores 4413 $59,331,292 $47,211,087 $12,120,205 11.4 46 Furniture & Home Furnishings Stores 442 $157,127,827 $98,650,771 $58,477,056 22.9 66 Furniture Stores 4421 $80,339,574 $47,235,829 $33,103,745 25.9 26 Home Furnishings Stores 4422 $76,788,253 $51,414,942 $25,373,311 19.8 40 Electronics & Appliance Stores 443 $145,385,486 $110,534,294 $34,851,192 13.6 65 Bldg Materials, Garden Equip. & Supply Stores 444 $250,502,352 $256,813,970 -$6,311,618 -1.2 121 Bldg Material & Supplies Dealers 4441 $224,184,186 $237,985,822 -$13,801,636 -3.0 95 Lawn & Garden Equip & Supply Stores 4442 $26,318,166 $18,828,148 $7,490,018 16.6 26 Food & Beverage Stores 445 $726,764,545 $680,619,002 $46,145,543 3.3 208 Grocery Stores 4451 $621,035,547 $571,101,212 $49,934,335 4.2 87 Specialty Food Stores 4452 $29,433,558 $23,429,537 $6,004,021 11.4 38 Beer, Wine & Liquor Stores 4453 $76,295,440 $86,088,253 -$9,792,813 -6.0 83 Health & Personal Care Stores 446,4461 $248,731,734 $306,251,028 -$57,519,294 -10.4 113 Gasoline Stations 447,4471 $335,246,188 $259,172,314 $76,073,874 12.8 81 Clothing & Clothing Accessories Stores 448 $296,063,819 $190,336,665 $105,727,154 21.7 165 Clothing Stores 4481 $210,310,523 $144,976,076 $65,334,447 18.4 111 Shoe Stores 4482 $33,104,804 $14,842,285 $18,262,519 38.1 13 Jewelry, Luggage & Leather Goods Stores 4483 $52,648,492 $30,518,304 $22,130,188 26.6 41 Sporting Goods, Hobby, Book & Music Stores 451 $141,854,382 $196,017,494 -$54,163,112 -16.0 90 Sporting Goods/Hobby/Musical Instr Stores 4511 $125,621,641 $176,476,527 -$50,854,886 -16.8 79 Book, Periodical & Music Stores 4512 $16,232,741 $19,540,967 -$3,308,226 -9.2 11 General Merchandise Stores 452 $567,721,364 $397,662,332 $170,059,032 17.6 53 Department Stores Excluding Leased Depts. 4521 $382,938,600 $233,550,871 $149,387,729 24.2 22 Other General Merchandise Stores 4529 $184,782,764 $164,111,461 $20,671,303 5.9 31 Miscellaneous Store Retailers 453 $147,798,170 $133,098,531 $14,699,639 5.2 224 Florists 4531 $12,540,454 $6,092,993 $6,447,461 34.6 25 Office Supplies, Stationery & Gift Stores 4532 $40,642,860 $34,134,446 $6,508,414 8.7 43 Used Merchandise Stores 4533 $14,755,805 $25,320,312 -$10,564,507 -26.4 49 Other Miscellaneous Store Retailers 4539 $79,859,051 $67,550,780 $12,308,271 8.3 107

48 NAICS NAICS Demand (Retail Supply Retail Gap Leakage/ Number of Industry Group potential) (Retail Sales) Surplus Businesses Factor Nonstore Retailers 454 $59,623,746 $49,835,594 $9,788,152 8.9 19 Electronic Shopping & Mail-Order Houses 4541 $39,830,494 $36,095,486 $3,735,008 4.9 7 Vending Machine Operators 4542 $2,096,188 $85,050 $2,011,138 92.2 1 Direct Selling Establishments 4543 $17,697,064 $13,655,058 $4,042,006 12.9 11 Food Services & Drinking Places 722 $416,658,510 $384,154,731 $32,503,779 4.1 522 Special Food Services 7223 $11,864,423 $10,404,255 $1,460,168 6.6 19 Drinking Places - Alcoholic Beverages 7224 $6,587,719 $5,552,272 $1,035,447 8.5 13 Restaurants/Other Eating Places 7225 $398,206,368 $368,198,204 $30,008,164 3.9 490 Data Note: Supply (retail sales) estimates sales to consumers by establishments. Sales to businesses are excluded. Demand (retail potential) estimates the expected amount spent by consumers at retail establishments. Supply and demand estimates are in current dollars. The Leakage/Surplus Factor presents a snapshot of retail opportunity. This is a measure of the relationship between supply and demand that ranges from +100 (total leakage) to -100 (total surplus). A positive value represents ‘leakage’ of retail opportunity outside the trade area. A negative value represents a surplus of retail sales, a market where customers are drawn in from outside the trade area. The Retail Gap represents the difference between Retail Potential and Retail Sales. Esri uses the North American Industry Classification System (NAICS) to classify businesses by their primary type of economic activity. Retail establishments are classified into 27 industry groups in the Retail Trade sector, as well as four industry groups within the Food Services & Drinking Establishments subsector. For more information on the Retail MarketPlace data, please click the link below to view the Methodology Statement. http://www.esri.com/library/whitepapers/pdfs/ esri-data-retail-marketplace.pdf Source: Esri and Infogroup. Retail MarketPlace 2017. Copyright 2017 Infogroup, Inc. All rights reserved.

49 BROKERS OPINION OF VALUE //

SUBJECT PROPERTY The Shoppes at Avalon 13.55 Acres 104,320 Approved SF $9,000 SF Expansion

75 Glastonbury Blvd 2941 Main Street 2.94 Acres 3.73 Acres Sold 6/02/2016 Sold 4/15/2016 $3,000,000 $1,005,361 / Acre - No $1,020,408 / Acre Approvals

347-349 Hebron Avenue 7.07 Acres

50 Closed Sales: (Values are adjusted positively [+] when subject is superior and negatively [-] when subject is inferior) Subject Sales Comp 1 Sales Comp 2 Sales Comp 3

Property Address 131 Griswold Street, 8E Main Street, 2B Griswold Street and 2980 Main Street 347-349 Hebron Ave 75 Glastonbury Blvd 2941 Main Street

City and State Glastonbury, CT Glastonbury CT Adjust Glastonbury CT Adjust Glastonbury CT Adjust

Sale Price $ 4,700,000.00 $ 3,000,000.00 $ 3,750,000.00

Date of Sale 15-Apr-16 2-Jun-16 15-Apr-16

Estimated Sale Price Adjustment in Relation to Sale Date $ 4,700,000.00 0% $ 3,000,000.00 0% $ 3,750,000.00 0%

Lot Size (acres) 13.55 7.07 0% 2.94 0% 3.73 0%

Location Suburban Suburban 0% Suburban 0% Suburban 0%

Zone Special Purpose Special Purpose 0% Special Purpose 0% Special Purpose 0%

Lot Shape Irregular Rectangular -3% Rectangular -3% Irregular 0%

Lot Type Interior Corner -4% Corner -4% Interior -2%

Estimated Building Coverage 0.26 27% 0% 27% 0% 27% 0%

Estimated Useable Land Area 10 7.07 Acres -1% 2.94 Acres 0% 3.73 0%

Total Frontage 80 Ft 1,000 Ft -7% 980 Ft -7% 240 Ft -2%

Topography Level Level 0% Level 0% Level 0%

Visibility Good Good 0% Good 0% Good 0%

Ingress and Egress Fair Good -1% Excellent -2% Good 0%

Traffic Volume Average Above Average 0% Average 0% Average 0%

Access to Major Roadways Good Good 0% Good 0% Good 0%

Access to Public Transportation Good Good 0% Good 0% Good 0%

Municipal Approval No Yes 0% No 0% No 0%

Other N/A N/A 0% N/A 0% Retail Site -6%

Adjusted Sales Value 3948000 -16% $ 2,520,000.00 -16% $ 3,375,000.00 -10%

Adjusted Sales Value Per Acre $ 558,415.84 $ 857,142.86 $ 904,825.74

Comments: (Description of the similarities and differences between Comps & Subject and justification of any differences in value)

Sales Comp 1 145 Planned Luxury apartments, site nearing completion.

Sales Comp 2 100 Planned Luxury apartments, not an approved development but serious inroads into the approval process had been made prior to purchase.

Sales Comp 3 Planned 30,000 SF retail village featuring a Chic-Fil-A with a drive-through. Site is now under construction.

Closed Sales Results

Number of Comparable Properties Used for Comparison 3 Value Range Variable Percentage 10%

Median Value Per Acre $ 773,461.48

Estimated Median Value of the Subject Property $ 10,480,403.04

Estimated Low Value of the Subject Property $ 9,432,362.73 Rounded Est. Low Value $ 9,432,000.00

Estimated High Value of the Subject Property $ 11,528,443.34 Rounded Est. High Value $ 11,528,000.00

Estimated Low Value / Sq Ft for the Subject Property $ 696,115.33 Rounded Est. Low Value $ 696,115.00

Estimated High Value / Sq Ft for the Subject Property $ 850,807.63 Rounded Est. High Value $ 850,808.00

51 The subject property totals 13.55 acres; the buildable acres are estimated to be approximately 10.00 acres. The Glastonbury, CT zoning regulations allows for 26.00% building coverage in Planned Travel zone.

The maximum building size is regulated by many factors including the topography of the land, soil type, other physical aspects of the property, engineering, architectural design, building setbacks, buffer zones, and other municipal requirements. Unless supplied with documentation from the owner detailing the maximum potential building size, for purposes of this analysis, we have estimated an approximate potential building size by multiplying the maximum building coverage percentage by the estimated buildable acres.

The estimated maximum building size is: 225,000 Sq Ft

ESTIMATED POTENTIAL INCOME

Est Total Sq Ft for each Est. Low Net Rent Est. High Net Rent Est. Low Annual Rental Est. High Annual Rental Proposed Property Use Proposed Property Use (LNR) Per Sq Ft (HNR) Per Sq Ft Income Income

MULTI-FAMILY 100000 $ 20.00 $ 26.00 $ 2,000,000.00 $ 2,600,000.00

Free Standing Retail 8000 $ 30.00 $ 35.00 $ 240,000.00 $ 280,000.00

Assisted Living Center 100000 $ 55.00 $ 65.00 $ 5,500,000.00 $ 6,500,000.00

RETAIL 17000 $ 25.00 $ 35.00 $ 425,000.00 $ 595,000.00

Total Sq Ft 225000 Sub Total $ 8,165,000.00 $ 9,975,000.00

Less Management Expense $ (612,375.00) $ (748,125.00)

Management Expense 7.5% Less Vacancy & Credit Loss $ (449,075.00) $ (548,625.00)

Vacancy & Credit Loss 5.5% Potential Income $ 7,103,550.00 $ 8,678,250.00

Capitalization Rate 7.5% Adjusted Value Based on Cap Rate $ 94,714,000.00 $ 115,710,000.00

Less Developers Min Profit $ (23,678,500.00) $ (28,927,500.00) Developers minimum profit as a percentage of Sub Total $ 71,035,500.00 $ 86,782,500.00 estimated total project value. (this includes the 25.0% costs associated with risk, carry costs, leasing Rounded Value $ 71,036,000.00 $ 86,783,000.00 costs, soft cost, misc costs) Estimated Value Per Sq Ft $ 315.72 $ 385.70

ESTIMATED POTENTIAL BUILDING COSTS

Est. Low Building Est. High Building Est Total Sq Ft for each Est. High Building Costs Proposed Property Use Cost (LBC) Per Sq Cost (HBC) Per Sq Est. Low Building Costs Total Proposed Property Use Total Ft Ft

MULTI-FAMILY 100000 $ 300.00 $ 360.00 $ 30,000,000.00 $ 36,000,000.00

Free Standing Retail 8000 $ 180.00 $ 220.00 $ 1,440,000.00 $ 1,760,000.00

Assisted Living Center 100000 $ 300.00 $ 360.00 $ 30,000,000.00 $ 36,000,000.00

RETAIL 17000 $ 180.00 $ 220.00 $ 3,060,000.00 $ 3,740,000.00

Total Sq Ft 225000 Sub Total $ 64,500,000.00 $ 77,500,000.00

ESTIMATED VALUE Low High

Maximum Estimated Total Project Value $ 71,036,000.00 $ 86,783,000.00

Less Estimated Development Costs (without land) $ (64,500,000.00) $ (77,500,000.00)

Estimated low and high amount a developer may pay to acquire the subject property $ 6,536,000.00 $ 9,283,000.00

Estimated low and high amount a developer may pay per acre for the subject property $ 653,600.00 $ 928,300.00

52 Conclusions

Weighted Averages Weighted Low Value per High Value Average Value Source Acre per Acre Applied to ClosedDevelopment Land### Sales Land Value Est Each Source 50%Closed50% Land### Sales

Closed Land Sales $ 696,115.00 $ 850,808.00 50% 50% 50% Development Land Value Est $ 653,600.00 $ 928,300.00 50% Development Land Value Est Note: The sum of the weighted averages must equal 100%. 100%

Non-buildable Land Area

Non-buildable land has little to no value, in some circumstances it may be applied as part of building coverage to increase the building footprint on the part of the site that is buildable, this is not always the case due to many factors including building setbacks, buffer zones, and other municipal requirements.

The approximate total of non-buildable acres is: 3.55 Approx. Low Value Per Unbuildable Acre Approx. Low Value Per Unbuildable Acre

The approximate value of non-buildable acres is: $ 300,000.00 $ 270,000.00 $ 330,000.00

Estimated Subject Property Value

Low Value Per Buildable Acre High Value Per Buildable Acre $ 674,858.00 $ 889,554.00

Low Value Per Non-Buildable Acre High Value Per Non-Buildable Acre $ 270,000.00 $ 330,000.00

Low Value Total High Value Total $ 7,707,080.00 $ 10,067,040.00

Low Value Effective Value Per Acre High Value Effective Value Per Acre $ 568,788.19 $ 742,954.98

Additional Comments Mean value calculates to $8,887,060

53 LIFESTYLE CENTER DEVELOPMENT SUMMARY //

ZONING SUMMARY (ALTERNATIVE GRADING LAYOUT)

ZONE: PT (PLANNED TRAVEL)

DIMENSIONAL REQUIREMENT REQUIRED PROPOSED

MINIMUM LOT SIZE 10 acres 13.55 acres MAXIMUM BUILDING COVERAGE 118,048 S.F. 94,240 S.F.

BUILDING SETBACKS: FRONT YARD 75 ft. 75 ft. SIDE YARD 50 ft. 50 ft. REAR YARD 50 ft. 50 ft. MAXIMUM BUILDING HEIGHT 35 ft. 34 ft. MAXIMUM STORIES 2.5 2.0 MINIMUM SPACE SIZE: 9' x 18' x 22' AISLE 9' x 18' x (18'&24' AISLE) OPEN SPACE: 188,480 S.F. 255,545 S.F**.

PARKING REQUIREMENTS REQUIRED PROVIDED PHASE I

PARKING SPACES 291 317 DEFERRED PARKING SPACES N/A 110

PARKING REQUIREMENTS REQUIRED PROVIDED PHASE II

PARKING SPACES 101 98 LOADING SPACES 3 6

TOTAL PHASE I & II PARKING SPACES 389 415 DEFERRED SPACES N/A 110

LOADING REQUIREMENTS

1. MINIMUM OF ONE (1) SPACE FOR EACH 10,000 SF OF FLOOR AREA 2. MINIMUM SPACE SIZE: 10' x 50' PROJECT TITLE: SHEET TITLE: LOADING SPACES REQUIRED = 9.4 LOADING AREAS (94,240 SF/10,000 SF) LOADING SPACES PROVIDED = 9 LOADING AREAS THE SHOPPES AT AVALON ** OPEN SPACE INCLUDES ALL SIDEWALK AREAS ONSITE (82,500 SF). PHASE II PROPOSAL PLAN OF DEVELOPMENT *** 575 SPACES CAN BE SUPPLIED OF WHICH 48 SPACES SHALL BE DESIGNATED GRISWOLD AND MAIN STREETS RETAIL LIFESTYLEAS DEFERRED SPACES. CENTER REFER TO THE ALTERNATIVE PARKING LAYOUTOPPORTUNITY FOR THE LOCATION OF THE DEFERRED PARKING AREAS. IF THE DEFERRED PARKING STALLS GLASTONBURY, CONNECTICUT ARE REQUIRED TO BE CONSTRUCTED THEN 51 SPACES SHALL BE CONSTRUCTED AS COMPACT SPACES (8' x 18'). 1 While previous attempts to develop a lifestyle center on the subject site1- 051079-LAYOUT were unsuccessful,051079 1"=60' MDWa new--- opportunity--- 01.14.13 has arisen from the demise of the recently canceled Outlet Shoppes at Rentschler Field. The Rentschler Field development, canceled soon after its ground breaking, was to be a 280,000 SF outlet/lifestyle center. The subject site in Glastonbury is within the same trade area of the canceled Rentschler development, and an experienced retail developer could potentially transfer over the pre-leasing momentum from the canceled development into the subject site’s pre-approved 100,000 SF lifestyle center.

UPDATES NEEDED FOR SHOVEL READY STATUS • New Traffic Study

ACCESS While the subject site is entitled to two easements by necessity there are some ongoing concerns regarding the width of the Northern easement which passes between Valvoline Oil and the vacant gas station parcel, 2952 Main Street. It is at this location that a public/private road is proposed, and the Town has expressed some concern about its ability to secure its portion of funding unless the width of the entire easement road is 50 Feet. In the currently approved development plan, the ingress egress point on Main street of the Northern easement road is 50 Ft, but as the easement road continues to the shopping center it narrows to 35 Feet.

54 MIXED-USE DEVELOPMENT SUMMARY //

IDEAL MIXED-USE DEVELOPMENT Our market analysis on the subject 13.55 Acre site suggests that it would be idea for a mixed-use development which consists primarily of market rate apartments and Senior Living. These two primary uses could then be accompanied by retail in the form of 1-2 pad sites and a small convenience plaza.

Recent luxury apartment developments in Glastonbury have had density approvals of up to 20.5 Units/Acre, and at this time an additional luxury apartment development is pursing density approvals for 33 Units/Acre. Though not currently zoned for multi-family or senior living, a developer willing to pursue a Planned Area Development at the 13.55 Acre site should be able to accommodate 100,000 SF of market rate apartments, 100,000 SF of Senior Living, along with stand alone retail pad sites and a 20,000 SF retail convenience plaza.

PLANNED AREA DEVELOPMENT The Planned Area Development (PAD) process in the Town of Glastonbury from application to approvals takes at least one year. Avison Young has confirmed interest from the Town in the above mentioned Mixed-Use development concept, and the Town

ZONING SUMMARY (ALTERNATIVE GRADING LAYOUT) Manager stands ready to answer any questions an interested party may have, and to assist any developer looking to pursue a PAD

ZONE: PT (PLANNED TRAVEL) DIMENSIONAL REQUIREMENT REQUIRED PROPOSED at the subject 13.55 Acre site. MINIMUM LOT SIZE 10 acres 13.55 acres MAXIMUM BUILDING COVERAGE 118,048 S.F. 94,240 S.F.

PARKING REQUIREMENTS REQUIRED PROVIDED PHASE I

PARKING SPACES 291 317 DEFERRED PARKING SPACES N/A 110

PARKING REQUIREMENTS REQUIRED PROVIDED PHASE II

PARKING SPACES 101 98 LOADING SPACES 3 6

TOTAL PHASE I & II PARKING SPACES 389 415 DEFERRED SPACES N/A 110

LOADING REQUIREMENTS

55 1

2 3

1. Subject Site Facing North

2. Existing Structure On-site

3. On-Site view of Existing Warehouse on a butting parcel (Facing Griswold St)

4. On-Site view of Existing Retail Property on abutting parcel (Facing Main St, Subject Site Easement to Main Street runs through Existing Retail Property’s parcel) 4

56 CONDITIONS OF SALE SUMMARY // Due to financial circumstances the successful sale of the subject site is dependent upon a timely execution.

Some of the parcels of the subject 13.55 Acre site are encumbered. Avison Young has negotiated the following sale timeline and conditions by which current lienholders will withhold all pursuit of recompense until the closing of the sale;

• The terms of settlement and payment of existing liens, whether by the Seller or Buyer or both, shall be written into the Purchase and Sale Agreement to guarantee their remedy and the marketability of the titles of the parcels which make up the 13.55 Acre site. • The entirety of the subject site must be under contract to sell by March 31st of 2018. • The closing date of an executed Purchase and Sale Agreement shall be no later than six (6) months from its date of execution.

Avison Young has prepared a substantial and comprehensive Due Diligence package containing all information needed to facilitate a timely sale. Upon execution of an NDA Avison Young can share this package with prospective buyers.

Please note: That the Owner shall consider all offers. Avison Young has direct contact with the encumbering lien holders of the site and can attempt to renegotiate the terms of their stay should an interested party submit an offer not in accordance with the above conditions.

57 GLASTONBURY 13.55 ACRES RETAIL/MIXED USE GLASTONBURY DEVELOPMENT SITE CONNECTICUT

For More Information Please Contact The Joint Office Avison Young Team:

JOHN LOCKHART ANDREW FILLER Associate Principal 860.327.8310 860.327.8302 [email protected] [email protected]

JEFF ARSENAULT BRUCE WHIPPLE Principal | Retail Director | Capital Markets 617.366.1001 212.729.1293 [email protected] [email protected]