Oakland Mall Troy, Michigan

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OAKLAND MALL TROY, MICHIGAN

RETAIL PROPERTIES, LLC

RETAIL PROPERTIES, LLC OVERVIEW n Oakland Mall is a 1.5 million square foot super regional shopping center located in the Detroit Metropolitan area of Michigan, serving approximately 650,000 people with an average income of about $73,000.

n Oakland Mall’s family friendly atmosphere, selection of stores, with great access and visibility from major thoroughfares Interstate 75, 14 Mile Road, and John R Highway make it a top destination.

n Oakland Mall’s central location in the Tri-County shopping district continue to make it a powerful retail destination today and into the future.

n Anchored by Macy’s, Sears and JCPenney, Oakland Mall includes more than 128 specialty stores.

n Oakland Mall has a variety of exciting stores including Aeropostale, Express/Express Men, Victoria’s Secret, Forever 21, Bath & Body Works, and The Children’s Place.

n The Detroit Metropolitan area is home to six communi- ty colleges plus Oakland University and Wayne State Uni- versity as well as campuses for the University of Michigan, Michigan State, Central Michigan, Western Michigan, and Eastern Michigan Universities. Within the market trade area enrollment for the universities is estimated at 100,000 students in the fall of 2010 and those universities have a total combined annual operating budget in excess of $1.4 billion.

n Oakland Mall as a total retail complex exceeds $300 million in annual sales. In addition, the department stores are very strong in their respective districts: Sears is #1 out of 11, Macy’s is #3 out of 18, and JCPenney is #3 out of 18.

PROPERTY INFORMATION & TRAFFIC COUNTS

LOCATION REGIONAL ACCESS DESCRIPTION 412 W. 14 Mile Road I-75 and 14 Mile Road Super Regional Shopping Center Troy, Michigan John R and 14 Mile Road www.oaklandmall.com TRAFFIC PATTERN MAJOR STORES TOTAL RETAIL SQ. FT. 325, 121 daily vehicles* Macy’s, Sears, JCPenney 1,500,000

PARKING: 8,500 Spaces OPENED: 1968 NUMBER OF STORES: 128

AERIAL VIEW COMPETITION PROFILE 7.5 Mile Radius Median Average Population Household Center Income Income Population Projection Households Projection Fairlane Town Center $40,370 $50,253 796,034 746,041 290,200 270,307 Great Lakes Crossing $83,517 $64,061 276,276 273,853 106,964 106,822 Lakeside Mall $73,974 $62,278 495,746 506,076 194,514 200,438 Laurel Park Place $65,505 $83,709 431,135 411,712 172,340 164,548 Macomb Mall $49,723 $59,666 523,756 517,078 220,403 220,620 Oakland Mall $56,604 $72,289 652,429 638,430 269,311 266,385 The Mall at Partridge Creek $56,138 $70,749 447,178 458,492 178,559 184,536 Somerset Collection $65,569 $87,595 507,361 496,295 211,253 208,601 Village of Rochester Hills $69,939 $83,32 6295,682 296,826 111,574 112,785

Great Lakes Crossing The Village of Rochester Hills

Lakeside The Mall at Mall Partridge Creek

The Somerset Collection

Oakland Mall Macomb Mall

Twelve Oaks Mall

Laurel Park Place

Fairlane Town Center MARKET TRADE AREA

POPULATION HOUSEHOLD INCOME 2010 Estimate: 652,429 $72,289 Average Income 70% Income over $35,000

BUSINESS PROFESSIONAL EMPLOYMENT CATEGORIES: Professional 35% Administrative Support 15% Services 12% Mgmt/Business 10% Transportation 5% Sales 12% Other 3% Production 8%

White Collar 66% Blue Collar 18% DAYTIME POPULATIONS

In Oakland Mall’s primary trade area there are 28,925 businesses with 351,063 employees. Employee to residential population ratio is 53%

There are over 49 hotels within Oakland Mall’s primary trade area providing 5,252 rooms.

LARGEST PRIVATE EMPLOYERS IN METRO DETROIT Ford Motor Company 38,000 Automotive University of Michigan 27,754 Public University/Health Care General Motors 24,867 Automotive Chrysler 21,927 Automotive Henry Ford Health System 19,951 Health Care Trinity Health 13,122 Health Care

LARGEST PUBLIC EMPLOYERS IN METRO DETROIT US Government 18,900 Federal Government Detroit Public Schools 13,039 Public School System City of Detroit 11,396 City Government US Postal Service 11,110 Postal Service ECONOMY From January to December 2011 the number of employed Oakland County residents increased by 12,268 the largest increase among all of Michigan’s counties. Source: US. Deartment of Commerce, Bureau of Labor Statistics

Over 57% of 2010 Fortune 500 companies have at least one business location in Oakland County and 86 of the region’s top Private 200 firms are headquartered in Oakland County as well. Source: Crains

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TOM WALSH FINDS SIMILARITIES WITH DETROIT’S CURRENT FISCAL SITUATION Benton Harbor progress seen ne week from today, Benton OHarbor will celebrate the sec- RICHARD DREW/ASSOCIATED PRESS ond anniversary of Gov. Jennifer Greg Smith, an executive direc- Granholm’s decision to put an emer- tor at Goldman Sachs, resigned gency manager in control of that with a blistering editorial in the struggling city’s finances. New York Times. OK, maybe “celebrate” isn’t exactly the right word. The autocratic rule of Joe Har- ris, Benton Harbor’s manager, has drawn howls of protest from local Goldman elected officials whose own powers were diminished, and sharp crit- icism from the NAACP and even MSNBC host Rachel Maddow. While under the budget deficit has shrunk from around $2.5 million when Harris arrived to $650,000 today, Benton Harbor remains in the red. scrutiny Still, things are improving, says Jeff Fettig, CEO of Benton Harbor’s largest taxpayer and corporate Past questions citizen, global appliance maker Whirlpool. about bank revisited “Our view is that it’s working By Daniel Wagner and a lot of progress has been and Christina Rexrode made,” Fettig told me Thursday in Associated Press Detroit. What advice, I The young banker whose asked Fettig, might PHOTOS BY WILLIAM ARCHIE/DETROIT FREE PRESS dramatic public resignation he have for Detroit as John Strika, left, helps Samara Bradley move her desk to her new location at Carat, GM’s new global media-buying company, in stung Goldman Sachs last week Mayor Dave Bing Detroit on Friday. Carat is opening a new office in downtown Detroit. joins officials from every cor- and Gov. Rick Snyder ner of the government in ques- wrangle over how to tioning whether the august in- avert the impending vestment house deals honestly financial collapse of with its clients. Jeff Michigan’s largest In separate cases, judges, Fettig city? lawmakers and regulators have “Obviously, it’s a suggested the bank ignores con- different scale,” flicts of interest and sells to its Fettig noted — Benton Harbor’s clients investments it knows are population of 10,000 is about 1/70th GM’s media-buying firm weak, all in the pursuit of profit. that of Detroit’s — “but our view is The resignation Wednesday that everybody has to be account- by Greg Smith, a 33-year-old able.” banker for Goldman in London, “In the case of Benton Harbor, was a shot from within Gold- the city had reached a point where it man’s ranks. fundamentally ran out of money,” In an Op-Ed article for the he said, leading to appointment of a New York Times, Smith said the manager. to bring 200 jobs to city bank sells financial products Just as Benton Harbor ran out of “that we are trying to get rid of.” cash in March 2010, Detroit stands “It makes me ill how callous- on the brink of the same debacle, AGENCY TO BE ‘PART OF THE FABRIC’ OF DOWNTOWN DETROIT ly people talk about ripping for the same reasons. By Zlati Meyer their clients off,” Smith wrote. “We had a period of time where The essay was widely circu- Free Press Business Writer past officials did not fiscally man- lated online, and Smith became age in a responsible way. And that eneral Motors’ new media-buying compa- atrending topic on Twitter. But led to a very bad outcome which had his charges were only the latest to be fixed,” Fettig said of Benton ny is expected to bring an estimated 200 embarrassment for Goldman, Harbor. Ditto for today’s Detroit. new jobs to downtown Detroit. which has built a sterling repu- Just as Granholm, as the state’s tation over 143 years on Wall CEO, had to step up when Benton Carat, which is owned by the London- Street. Harbor went bust — to ensure deliv- headquartered Aegis Group, is opening The bank paid $550 million in ery of basic services to people — an office on the 23rd floor of One Detroit 2010 to settle civil charges that it Snyder is duty-bound to do the same misled investors while selling in Detroit. If anything, the urgency Center. them investments in the U.S. for Snyder is even greater, because When the automaker was looking for a firm to housing market as the bubble of the damage that a Detroit default Ghandle its global media-buying, it wanted an agency burst — even as Goldman and bankruptcy could do to credit reaped hundreds of millions in ratings and stability of neighboring that would be located near its headquarters and be profits with its own bets that ◆ cities and counties.12x A WWW.FREEP.COM“partFRIDAY, of the MARCH fabric 23, of 20 the12 city,” in GM marketing housing prices would fall. x Four months after Granholm chief Joel Ewanick’s words. Acongressional committee interceded in Benton Harbor, Fet- Carat employees can see the GM headquarters from their office recommended that law enforce- tig’s Whirlpool stepped up with an “We think it’s even more important to show this space on the 23rd floor in the One Detroit Center building. ment authorities look into a se- $85-million commitment to put its commitment right now,” Ewanick said. “We know SUSANries TOMPOR’S of deals that Goldman sold TAX TIPS new headquarters campus and 1,200 what it’s like to have friends come and help us when Check out her taxwhile web executives page derided for themadvice, forms and the to 1,400 workers in downtown Ben- solvency. in e-mails as “junk,” “crap” and ton Harbor. we’re going through hard times, and we want to be But Martin Cass, president of Caratlatest Global tax Man- helpanother news. profaneGo to adjective. freep.com/taxtips Without some indication that that kind of good citizen right now. We understand agement, who oversees the Detroit office, is hope- And last month, a Delaware Benton Harbor’s dysfunctional how much work this is, fixing the city. We’re not go- GET TIPScourt FOR nearly FILING blocked a YOURmerger TAXES government was on the mend, would ful. between Kinder Morgan and El Whirlpool have chosen that site? ing to wilt away from that.” “There’s definitely a sense of buzz, a sense of re- Paso, two energy companies, be- The company certainly didn’t This comes as Detroit’s financial crisis comes to vival,” he said. “I hope the political elementsLIVE get CHATScauseWITH Goldman had INDUSTR ties to both Y TAX EXPERTS have to: It could have expanded next ahead, amid a faceoff between Mayor Dave Bing companies, raising questions door in St. Joseph. Heck,313-222-8765 it could [email protected] sorted out, and we can all get on with life.”DOWNLOADabout a ANDconflict ofPRINT interest. TAX FORMS easily move headquarters 90 miles and Gov. Rick Snyder over the best path to restore “This is the latest entry into a ❚ CARAT TO HANDLE ALL MEDIA-BUYING. 6B to Chicago, where WhirlpoolBUSI already NESS See BANKER, PAGE 6B has a swell product showplace ◆ downtown. Fettig remains upbeat about Benton Harbor’s outlook. “Whenever they do make the transition back to elected official Sell stock? Get ready for new tax form management … ,” he said, “I’m sure he last thing any taxpayer If a third party reports In some cases — when the city will be stronger than it’s Twants to hear about is yet what an investor paid for the several types of stock sales been in a long time.” another new tax form. But if stock, it could be harder for a have been made in a year — Snyder, to this point, has tried to you sold stock in 2011, get taxpayer to underestimate the some taxpayers could even enlist Detroit’s elected20 leaders in 12a ready for a brand-newvehicle head- salestaxable gain on a stock sale. mayhave to fill out six Form 8949s topGREEN LEADERS expectations consent agreement whereby they ache called Form 8949. That’sAkey change lower thisthan tax sea- the in15a.0year. BREAKFAST Over the last 18 months, al- choose from 41 small car models could claim some role in saving the In the past, you’d just work son: An investor who acquired Yes, “sixIN of MARCH, them,” said LMC SUSAN TOMPOR SAYS IRS The Detroit Free Press Michi- city’s financial ship,Higher even as they gas pricesthrough a Schedule not hurtingD to deal them yet millionstock in 20 rate11 and for sold February, it before Leslie but Welbourn, tax manager most every automaker has in- in the U.S. market compared TO GET BETTER HANDLE ON gan Green Leaders awards surrender significant control. with the profits or losses re- the end of 2011 will see that for DoerenAUTOMOTIVE Mayhew in Troy. IS PREDICTING By Brent Snavely industry analysts expected at would be the third-straight breakfast will be at 8troduceda.m. April a new or redesigned with just 30 back in 2007. If Bing and council refuse, Sny- sulting from selling stock. ACTUAL PROFIT the broker reported the cost Best bet: Look at the 1099-B Free Press Business Writer the start of 2012, when analysts month above 14 million. 27 at the MGM Grandcompact Detroit. car, and the industry The U.S. housing market, der must do as Granholm did with Beginning in the 2011 tax basis for the securities in Box forms thatAN arrive ANNUALIZED from bro- SELLING Tickets for the annual event are Benton Harbor and impose a new year, though, you’re alsowere going predictingting a better sales handle of on anless 3oButf Form the1099-B. real test for thekerage in- firms very carefully. overall is offering features on meanwhile, is only starting to $40 per person, and tables of 10 commander to rightFor the ship. automakers,to need 2012 to filllooks out Formthan 894914 million.investor’s actual profit. dustryThe newwill Form come 8949 over re- the spring“You haveRATE to know OF 14.1 what MILLION. those cars previously reserved show signs of a recovery, which can be reserved. For more But if that move was to get hung with that Schedule D. Under the changes, the quires you to carefully enter a you’re looking for and how to like it will be better than expect- “Results for the first quarter and summer, Schuster said, as information about thefor honor- larger cars. means pickup sales are unlikely up for months or years because of Form 8949 is for “Sales and Internal Revenue Service variety of codes. read a broker’s statement,” ed — at least in the U.S. of 2012 suggest that the year will gas prices test consumer confi- Higher prices aren’tees or hurting the event, go to Examples include the Chev- to outpace industry growth. lawsuits or ballot proposals, why Other Dispositions of Capital would have more information What’s worse, though, is Welbourn said. michigangreenleaders.com or would businesses investU.S. more consumers mon- Assets.” are on pace be betterabout than what current an investor expecta- paid dencethat it’s and possible as some policymakers taxpay- in auto sales yet, Schuster said, but rolet Cruze, Fiat 500, Ford Fo- With higher gas prices, and ❚ EVERYDAY INVESTORS TO www.facebook.com ey and locate thousandsto buy of about jobs in1.4 millionThe new extra cars reportingtions,” is saidfor Jeffa stock Schuster, through a seniorthird- Europeers would try need to tocontain file more that conti- they are affecting what people cus, Honda Civic, and Hyundai more choices, the overall share REPORT MORE WITH NEW /michigangreenleaders. Detroit, as Whirlpooland is trucks doing in in March,designed, or naturally, about tovice gener- presidentparty verification of forecasting of the cost at nent’sthan one debt 8949 crisis. in a given tax FORMS. 6Bare buying. Elantra and Veloster. of small cars in 2012 could climb Benton Harbor? 6% more than in theate same extra taxmonth revenueLMC by get- Automotive.of the asset. year.On Thursday, the average Through the first 18 days of “I think the styling in many to its highest level ever, at near- last year. In March, LMC Automotive price for a gallon of gas was March, subcompact and com- cases is more appealing and the ly 20% of industry sales, Schus- That would put the industry is predicting an annualized sell- $3.88, or 33 cents higher than a pact cars accounted for approx- content has increased,” Schus- ter said. on pace to sell14.1 million for the ing rate of 14.1 million cars and year ago, according to AAA’s imately 23% of retail sales in the ter said. ❚ CONTACT BRENT SNAVELY: 313-222-6512 year, which is higher than most trucks. Fuel Gauge Report. U.S. Today, consumers can OR [email protected] Gateway Project GM offers BRIDGE OWNERS TO APPEAL exchange Company seeks to regain control from state agency of Volt By John Gallagher Free Press Business Writer power cord Even as the state prepares to launch final construction next month on the It has more reliable, long-delayed Gateway Project, owners of the Ambassador Bridge say they’ll durable model, it says still fight to win back control. Godfrey Dillard, an attorney for the By Brent Snavely Detroit International Bridge Co., told Free Press Business Writer Wayne County Circuit Judge Prentis Edwards on Thursday that DIBC plans General Motors is offering to ex- aswift appeal of Edwards’ March 8 or- change the 120-volt recharging cord der stripping the company of the Gate- on the Chevrolet Volt with a new way Project. cord, the company said Thursday. “We feel it was not in conformity The company decided to replace with the law,” Dillard told reporters af- the cords because it has developed a ter the hearing. new cord that is more reliable, dura- And Dillard hinted that he thought ble and provides a more consistent the Michigan Department of Transpor- charge for the company’s extended- tation, put in charge of the project by range electric car, said spokesman the judge’s March 8 order, would not be Randy Fox. able to move as quickly as it claims to Fox said Volt owners can make finish the work. the exchange when they bring their “You know how bureaucracies are. car into the deal- They say they’re going to do it quickly VOLT ership for a bat- but that remains to be seen,” Dillard PHOTOS BY ANDRE J. JACKSON/DETROIT FREE PRESS tery upgrade. OWNERS CAN The Volt, told reporters. Judge Prentis Edwards looks over paperwork during a bridge authority hearing at the Coleman A. Young Municipal Center. An appeal of the March 8order giv- MAKE THE hailed by many industry watchers ing MDOT control would set up two future. EXCHANGE seemingly contradictory processes: In But on Thursday, Edwards said the as a technological one, the bridge company, obedient to company had purged its civil contempt WHEN THEY marvel, also be- the judge’s order, will cooperate fully by complying with his March 8 order came a political with MDOT’s takeover. In the other, for the Michigan Department of Trans- BRING THEIR target after two Volts caught fire the company will fight vigorously to re- portation to take full control of the pro- CAR INTO THE gain control. ject. at least a week af- For years, the bridge company has To comply, the company also was re- DEALERSHIP. ter their batteries maintained it was in the right in the dis- quired to wire $16 million to MDOT by were punctured pute, even as ruling after ruling went this week to pay for work to finish the in crash tests. against the bridge company. Dan interchange project, as the judge had Federal safety regulators closed Stamper, president of DIBC, has main- ordered. Also, the company was re- their investigation of the fires after tained that the company will win in the quired to provide a legal right of entry GM announced plans to strengthen end and reap millions of dollars in dam- for MDOT to enter bridge company the battery pack casing and install ages from MDOT. property to finish the work. sensors to detect leaking battery flu- Meanwhile, Edwards lifted the civil Michigan Assistant Attorney Gen- id. contempt finding against the Ambassa- eral Robert Mol, representing MDOT, Fox said a letter will be sent next dor Bridge owners Thursday, saying told Edwards that MDOT expected to week to Volt owners informing them they were complying with his orders to seek qualified construction teams to of the offer to exchange the power turn the disputed project over to submit within a week their qualifica- cord. MDOT. tions to finish Gateway, and to award a Last year, GM fell short of its goal to sell 10,000 Volts. The company The ruling means bridge owners Manuel (Matty) Moroun, owner of the Ambassador Bridge, looks on during the contract to the winning bidder by mid- sold 7,671for the year. Manuel (Matty) Moroun and his son hearing Thursday on the Gateway Project in Detroit. April. Matthew, and top aide Stamper, are no MDOT regional engineer Tony Kra- Earlier this month, the company longer under threat of jail and are no series of new ramps and roads. In plan- In February 2010, Edwards ordered tofil told reporters after the hearing said it would halt production at its longer required to attend subsequent ning since the mid-’90s, the project was DIBC to remove those structures and that MDOT expects to have the contro- Detroit-Hamtramck plant for five court hearings in person. ajoint effort between MDOT and complete Gateway as designed. Over versial Pier 19 “ramp to nowhere,” weeks because of limited demand. The judge also noted that he retains DIBC, with each responsible for build- the past two years, Edwards has found which was designed as a support pylon Through February, GM has sold jurisdiction over the case, which ing key parts under a 2004 contract. the company in civil contempt of court for a second Moroun-owned bridge to 1,626 Volts. means he can bring future sanctions But MDOT sued the bridge compa- for stalling. Canada, removed by mid-May. This ❚ CONTACT BRENT SNAVELY: 313-222-6512 OR against the bridge company if officials ny in 2009 for not building Gateway ac- In January, Edwards jailed the elder would allow a planned truck road to be [email protected] obstruct MDOT’s progress on Gate- cording to plan. Instead, as MDOT con- Moroun and Stamper for civil con- completed and for thousands of trucks way. tended and as Edwards has ruled, the tempt to force compliance with his or- to be routed to expressways and avoid Gateway is a $230-million project to company built a lucrative duty-free der. A Michigan Court of Appeals panel clogging up Fort Street and other sur- ease border congestion by connecting complex and started construction of a freed the men after one night in jail, but face streets. the Ambassador Bridge directly to second span to Canada that conflicted ruled that Edwards had the power to re- ❚ CONTACT JOHN GALLAGHER: 313-222-5173 OR nearby interstate highways through a with some aspects of the Gateway plan. turn the men to jail if necessary in the [email protected] Chrysler’s stricter minority purchasing policies pay off By Brent Snavely of business it does with minority suppli- Dan Knott, Chrysler gram increased Chrysler’s annual mi- Free Press Business Writer ers. But if the supplier scores zero on senior vice president of nority supplier spending by $168 mil- minority sourcing, the weight of the purchasing, is chairman lion, a 227% increase. Stricter minority purchasing pro- score is raised to 20% of the supplier’s of the Michigan Minority In 2011, Chrysler spent $4 billion with grams adopted by Chrysler last year are overall scorecard. Supplier Development minority-owned suppliers, or $1.4 bil- driving tier-one suppliers to spend more The scorecard is used by Chrysler Council. lion more than in 2010. Since 1983, the money with diverse companies. when it awards new contracts. automaker has purchased more than Under one policy adopted last year, a “It basically puts some real teeth into $45 billion from minority-owned com- tier-one supplier’s risk of losing busi- the scorecard,” said Chrysler spokes- But last year, Chrysler also adopted a panies. ness with Chrysler was increased if it woman Katie Helper. new High Focus program that identifies This year, Dan Knott, Chrysler se- doesn’t meet the automaker’s minority Chrysler has long provided mentor- tier-one suppliers that are not hitting nior vice president of purchasing, is purchasing goals. ing programs to minority-owned suppli- minority purchasing targets. Those sup- chairman of the Michigan Minority Sup- Every year, Chrysler’s suppliers are ers to help them improve their perfor- pliers are given tools to help them devel- plier Development Council, a position CHUCK BURTON/AP evaluated based on an annual scorecard. mance and to help tier-one suppliers in- op relationships and partnerships with he will hold for one year. General Motors is offering to ex- About 5% of a tier-one supplier’s per- crease spending with diverse compa- minority-owned businesses. ❚ CONTACT BRENT SNAVELY: 313-222-6512 OR change the 120-volt recharging cord formance score is based on the amount nies. In its first year, the High Focus pro- [email protected] on the Volt with a new cord. ATTRACTIONS n Metro Detroit hosts year round quality entertainment featuring live music and theater performances at the following venues: • Fox Theatre • Fisher Theater • Detroit Opera House • Music Hall • Masonic Temple • Cobo Hall

n Metro Detroit is the home of state of the art sports arenas: • Comerica Park home to the Detroit Tigers • Ford Field home to the Detroit Lions • Joe Louis Arena home of the Detroit Red Wings • The Palace of Auburn Hills home of the Detroit Pistons

n The Detroit Zoo has 125 acres of wildlife attractions including one of largest polar bear exhibits, a kangaroo walk, and animals feeding.

n The Detroit Institute of Arts, Detroit Science Center, Detroit Zoo, and Detroit Historical Museum house several exhibits and attractions.

n The Woodward Dream Cruise held annually the second weekend in August draws over 1.7 million people and 400,000 classic cars.

n North America International Auto Show held in January at Cobo Hall welcomes 715,000 car enthusiasts to the event. Arts, Beats, and Eats brings in over 500,000 people on

n Arts, Beats, and Eats brings in over 500,000 people on Labor Day weekend and raises over $350 million for local charities. It also brings in over $40 million for the local economy by celebrating the diversity of artists, musicians, and food in Metro Detroit.