ASHLAND CONSTRUCTION COMPANY is a leading general contractor providing comprehensive construction related services, with a specialization in retail projects. Particular emphasis is placed on design-build project delivery and long term relationships with our employees, clients, and vendors.

3 ASHLAND CONSTRUCTION COMPANY INTRODUCTION ashlandconstruction.com 919-872-7913 Fax 919-872-7500 Phone Raleigh, Carolina North 27604 4601 Atlantic Avenue Office Principal Raleigh, Carolina North CPA,Lee PLLC Public Accountants Certified Company MutualInsurance Liberty Bonding Kirkpatrick, President Brian Vice Jeffrey D. Havener, President Vice K.Bradley Goodman, President Vice Rhett A. Moody, President Vice C. KeithDavis, President Vice M.Owen Cavanaugh, Officer/Treasurer Financial Chief K. DaleAngell,President SeniorVice John K. Schaeffer, President SeniorVice Thomas C. Church, Jr., President SeniorVice John T.Church, A.Robert Boyette, Chairman Officers Tennessee, , ofColumbia AlabamaandDistrict Delaware, Carolina, South Georgia, , West Virginia, Carolina, ofNorth inStates Unlimited Category Virginia, Maryland, Contractor— General License Classification 1974 Organized President

MISSION STATEMENT

Vision Statement Ashland Construction Company is a leading general contractor providing comprehensive construction related services, with a specialization in retail projects. Particular emphasis is placed on design-build project delivery and long term relationships with our employees, clients, and vendors.

Our Values ■■ We hold fairness and integrity as our core values; ■■ We will promote a safe work environment for our employees; ■■ We recognize that continuous improvement is critical to our future success; ■■ We are committed to establishing and maintaining long-term relationships with our employees, clients, and subcontractors/suppliers; ■■ We will provide optimum value to our clients; ■■ We are focused on sustaining profit without compromising these values.

Commitments To our Owners/Developers, we will deliver: ■■ a relationship-driven, collaborative approach to enable them to achieve their goals; ■■ optimum value; ■■ value-added, comprehensive service.

To our Owners’ tenants, we commit: ■■ to regard them as a vital team member; ■■ to understand and adapt to their program and criteria; ■■ to recognize the critical nature of their delivery and opening process.

To our Subcontractors/Suppliers, we assure: ■■ respect, fairness, and prompt payment; ■■ a team-based relationship; ■■ opportunity to succeed and to secure future work.

To our employees, we pledge: ■■ teamwork, mutual respect, trust, loyalty, and open communication in the workplace; ■■ competitive benefits and compensation; ■■ empowerment and the opportunity for personal development; ■■ a safe work environment.

5 ASHLAND CONSTRUCTION COMPANY Suffolk,Virginia TeeterHarris #463 Raleigh, North Carolina TeeterHarris #495 Chesapeake, Virginia TeeterHarris #465 Jacksonville, North Carolina MarketplaceGateway Fort Mill, SouthCarolina Fort Fare Crossing Mill –Earth Huntersville, North Carolina Food Lion #2243 Raleigh, North Carolina Food Lion #2244 Jacksonville, North Carolina FreedomRetail Village Raleigh, North Carolina Shack Drive Henrico, Virginia CVS #10990 Suffolk,Virginia CVS #11056 Hopewell, Virginia CVS #10251 Southport, North Carolina CVS #7382 Fuquay Varina, North Carolina Crossroads Quicklane Apex, North Carolina Crossroads Ford Pines,Southern North Carolina Crossroads Ford Virginia Chesterfield, & Shops #1643 -Publix Cosby Village Chester, Virginia Center Shopping Breckenridge Swansboro, North Carolina CenteratSwansboro Bailey REPRESENTATIVE PROJECTS

Hope Mills, North Carolina Cape Fear DiscountDrug Center– Shopping Village Gaithersburg, Maryland Sam’s Club#6653 – Remodel Gastonia, North Carolina Sam’s Club#6414–Remodel Fayetteville, North Carolina Retail Street Ramsey Wake Forest, North Carolina Radeas Benson, North Carolina McGee’s Crossing Retail Apex, North Carolina PointePublix 3Retail -Lot Fayetteville, North Carolina #1575 Publix High Point, North Carolina Fare &Shops Palladium atDeepRiver -Earth Columbia, SouthCarolina FoodsLowes #272Renovation SouthCarolina Summerville, Oakbrook Square FoodsLowes #270- Roanoke, Virginia FareEarth &Shops Center– Ivy Market Shopping Holly Springs, North Carolina Commons Lake atSunset Lakes Holly Charlotte, North Carolina Harris Teeter #440-ReaFarms New Bern, North Carolina MarketplaceNew Bern Harris Teeter #421– Raleigh, North Carolina Cameron Village Harris Teeter #21Remodel– Beach, Virginia Virginia TeeterHarris #459 Pinehurst, North Carolina Harris Teeter -Pinecroft Morrisville, North Carolina Park– BB&T West Village Southport, North Carolina Food Lion &Shops Dresher, Pennsylvania Road Susquehanna & Drive CVS – Virginia Spout Springs, North Carolina Walmart Supercenter Pottstown, Pennsylvania CVS – West Road Schuykill George, Virginia Prince Crossroads Ford Quicklane Edenton, North Carolina Food Lion –Chowan Crossing Wake Forest, North Carolina Sam’s Club Clayton, North Carolina Clayton Corners FoodsLowes Remodel– Chapel Hill, North Carolina –Ram’sCVS Pharmacy Plaza New Bern, North Carolina Center Shopping Harris Teeter –Carolina Colours Greer, SouthCarolina Riverside Crossing New Bern, North Carolina Carolina ColoursRetailShops Greenville, SouthCarolina Market East Village Danville, Virginia Nordan Center Shopping Walmart Neighborhood Market – Apex, North Carolina PointePublix Clayton, North Carolina MarketCleveland Bayshore Commons Shops CVS - Fair Lakes Circle & CVS Pharmacy – Wilmington, North Carolina Shoppes Lane North Dupont Boulevard Fairfax, VA Milford, Delaware CVS – Route 40 & Middletown Parkway Walmart Neighborhood Market – CVS Pharmacy – Chestnut Ridge & Middletown, Maryland Cedar Road Pineview Drive Chesapeake, Virginia Morgantown, West Virginia Walmart Supercenter Wilmington, North Carolina CVS – First Colonial Road & Festival at Old Bridge Façade Great Neck Road Renovation Walmart Supercenter Virginia Beach, Virginia Woodbridge, Virginia South Riding, Virginia PDQ – Pelham Road PDQ – Searstone BB&T – Litchford Road Greenville, South Carolina Cary, North Carolina Raleigh, North Carolina Shops at Cameron Place CVS Pharmacy – Centre Avenue Earth Fare & Shops – Sanford, North Carolina Pittsburgh, Pennsylvania Park West Village Morrisville, North Carolina Bailey Shoppes – Marine Boulevard CVS Pharmacy – Jacksonville, North Carolina East Franklin Street Walmart Supercenter Chapel Hill, North Carolina Greenwood, South Carolina Dollar Tree – Gateway Forest Wake Forest, North Carolina Walmart Neighborhood Market – Nichols Plaza Covington Highway Apex, North Carolina Carolina Forest Lithonia, Georgia Jacksonville, North Carolina Biotest Pharmaceuticals – Mattress Firm – Mercury Boulevard Freedom Village CVS – Mercury Boulevard & & North Armistead Jacksonville, North Carolina Armistead Avenue Hampton, Virginia Hampton, Virginia Walmart Neighborhood Market – Harris Teeter – Parkside Commons Tommy’s Drive & Hamricks – Wilders Grove Cary, North Carolina Wayne Memorial Drive Raleigh, North Carolina Goldsboro, North Carolina Carolina Forest CVS Pharmacy – Ocean Gateway Myrtle Beach, South Carolina PetSmart West Ocean City, Maryland Jacksonville, North Carolina PDQ – US Highway 70 CVS Pharmacy – Hickory, North Carolina Lowes Food Remodel – Preston North Village Main Boulevard Corners Shopping Center Lewes, Delaware PDQ – Watkins Road Cary, North Carolina Durham, North Carolina Richland Creek Plaza Shops at Myrtle Ridge Wake Forest, North Carolina Bottom Dollar – Penn Avenue Conway, South Carolina Pittsburgh, Pennsylvania Walmart Neighborhood Market – Harris Teeter – Settler’s Market PDQ – North McPherson The Pointe at Creedmoor Williamsburg, Virginia Church Road Raleigh, North Carolina Fayetteville, North Carolina Bottom Dollar – Wilmington Road Carefirst Animal Hospital – Gateway New Castle, Pennsylvania Pawleys Market Commons Pawleys Island, South Carolina Wake Forest, North Carolina Advance Auto – Ten Ten Road Garner, North Carolina CVS Pharmacy – Walmart Supercenter – Churchill & Grubert Avenue Virginia Beach Town Center Walmart Neighborhood Market – Staunton, Virginia Virginia Beach, Virginia Winters Chapel Road Dunwoody, Georgia Walmart Supercenter – Remodel Blackstone, Virginia 7 ASHLAND CONSTRUCTION COMPANY Washington, D.C. Rhode IslandAvenue – CVS Pharmacy Chapel Hill, North Carolina FoodsLowes –Remodel Nags Head, North Carolina PetSmart Chesapeake, Virginia & CanalDrive Highway –Military CVS Pharmacy Eden, North Carolina Walmart –Remodel Supercenter Goldsboro, North Carolina Walmart –Remodel Supercenter Charles Town, West Virginia Washington & West Street – CVS Pharmacy Arlington, Virginia Hayes &12thStreet – CVS Pharmacy Jacksonville, North Carolina Freedom West Village Elkton, Virginia Food Lion –Remodel Virginia Timberville, Food Lion –Remodel Atlanta, Georgia Walmart City – Supercenter Vine Fallston, Maryland CVS Pharmacy Hawk,Kitty North Carolina Walmart –Expansion Supercenter Hampstead, North Carolina Hampstead TownCenter Charlotte, North Carolina Independence Boulevard Walmart Neighborhood Market – Odenton, Maryland –Annapolis Road CVS Pharmacy Ahoskie, North Carolina Walmart Supercenter REPRESENTATIVE PROJECTS Norfolk, Virginia Norfolk, Little Creek Drive &Shore – CVS Pharmacy Williamsburg, Virginia Richmond Road &Croaker Road Food Lion – Williamsburg, Virginia Richmond Road &Croaker Road – CVS Pharmacy Sanford, North Carolina Crossroads Nissan ofSanford Williamsburg, Virginia Town atNew FamilyAmerican Fitness Virginia Norfolk, Lafayette Boulevard – CVS Pharmacy Hickory, North Carolina Crossroads Nissan ofHickory Durham, North Carolina Kitt Creek Commons Advance Auto – Clearfield, Pennsylvania CVS Pharmacy McKeesport, Pennsylvania Bottom Food Dollar Covington, Georgia Walmart Supercenter Ambridge, Pennsylvania Bottom Food Dollar Portsmouth, Virginia &Greenwood Airline Drive – CVS Pharmacy Sylva, North Carolina CVS Pharmacy Fayetteville, North Carolina Center Northwood Shopping Wake Forest, North Carolina &Shops Sitework – Creedmoor Village Virginia Norfolk, &Poplar Military Drive Hall – CVS Pharmacy

Cary, North Carolina Searstone Village CVS Pharmacy– Raleigh, North Carolina Harris Teeter Hills –North Roanoke, Virginia Challenger Avenue – CVS Pharmacy Raleigh, North Carolina ToyotaPre-Owned Anderson Williamsburg, Virginia Richmond &Ironbound Road – CVS Pharmacy Williamsburg, Virginia at Windsormeade Goodyear North Carolina Raeford, Walmart Supercenter Troutville, Virginia CVS Pharmacy Mineral, Virginia Landing New Bridge New Bern, North Carolina Renovation Square Berne Beach, Virginia Virginia BoothBoulevard General – CVS Pharmacy Beach, Virginia Virginia Lynnhaven Mall Walmart Expansion Supercenter – Meyersdale, Pennsylvania Meyersdale Commons Hamilton Township, NewJersey Bottom Food Dollar Portsmouth, Virginia Frederick Boulevard – CVS Pharmacy Wake Forest, North Carolina CrossingHarris –Shops Falling Waters, West Virginia Riverside Marketplace Chesapeake, Virginia Walmart Supercenter CVS Pharmacy – Laskin Road CVS Pharmacy – La Plata Plaza North Virginia Beach, Virginia Green Level to Durham Road La Plata, Maryland Cary, North Carolina Louisburg Plaza Walgreens – Salisbury Boulevard Louisburg, North Carolina Shops at Back Bay Center Salisbury, Maryland Millsboro, Delaware Walmart Supercenter Cary Park Town Center Louisburg, North Carolina Maple Street Commons Cary, North Carolina Carrollton, Georgia Food Lion – Salem Center CVS Pharmacy – Genito Road Bear, Delaware Sargent Plaza Midlothian, Virginia Sargent, Georgia Harris Teeter – CVS Pharmacy Quarterpath Crossing Jackson Street Station Orange, Virginia Williamsburg, Virginia Newnan, Georgia Salem Street Station Gateway Commons Food Lion – Airline Boulevard Thomasville, North Carolina Wake Forest, North Carolina Portsmouth, Virginia Ace Hardware – Alexander Village CVS Pharmacy Harris Teeter Durham, North Carolina Creedmoor, North Carolina Millsboro, Delaware Walnut Hill Market Harris Teeter – Brenneman Farms CVS Pharmacy – Plank Road Petersburg, Virginia Virginia Beach, Virginia Fredericksburg, Virginia Premier Landing Shopping Center, Food Lion – Beaver Brook Plaza CVS Pharmacy – Bailey Bridge Road Phase II New Castle, Delaware Chesterfield, Virginia Roanoke Rapids, North Carolina

CVS Pharmacy – Walgreens – Crain Highway CVS Pharmacy – Village Walk Drive La Plata, Maryland West Baltimore Street Holly Springs, North Carolina Greencastle, Pennsylvania Quarterpath Crossing Crisfield Shopping Center Williamsburg, Virginia Kerr Drug – Skeet Club Road Crisfield, Maryland High Point, North Carolina Kia of Raleigh Food Lion & Shops – Fenwick Plaza Raleigh, North Carolina Harris Teeter – Fenwick Island, Delaware Kings Grant Commons New River Plaza Fuquay-Varina, North Carolina Harris Teeter Dublin, Virginia Crozet, Virginia Breckenridge Shopping Harris Teeter – Cary Park Center Shops The Shoppes at Williamston Cary, North Carolina Chesterfield, Virginia Williamston, North Carolina Crossroads Chrysler Jeep Dodge Shoppes at Midway Plantation Shoppes at Forest Oaks Colonial Heights, Virginia Knightdale, North Carolina Greensboro, North Carolina Crossroads Ford Kings Grant Commons Shops Shoppes at Fieldstone Colonial Heights, Virginia Fuquay-Varina, North Carolina Dover, Delaware Kerr Drug Alexander Village Kerr Drug Troutman, North Carolina Durham, North Carolina Ayden, North Carolina Orrick Commons Food Lion Kerr Drug Winchester, Virginia Millington, Maryland Roseboro, North Carolina Ace Hardware – Atlantic Marketplace Food Lion Morrisville Market Chesapeake, Virginia Scottsville, Virginia Morrisville, North Carolina 9 ASHLAND CONSTRUCTION COMPANY Charlottesville, Virginia –Seminole CVS Pharmacy Trail Fredericksburg, Virginia Marketplace Shops Town andCountry Courtland, Virginia ParkwaySouthampton Food Lion – Dunn, North Carolina PointeEast Village Raleigh, North Carolina Wakefield Commons Marquee Cinemaat Powhatan, Virginia Creek Plaza South Jamestown, North Carolina – W.Kerr Drug MainStreet Woodbine, Maryland Food Lion –Lisbon Center Gastonia, North Carolina Family –N. Dollar ChesterStreet City,Dale Virginia Road Hoadly Food – Lion &Shops Burlington, North Carolina CommonsUniversity Morrisville, North Carolina Market Morrisville Fayetteville, North Carolina Gray’s Center Creek Shopping Durham, North Carolina –Holloway Street Kerr Drug Lusby, Maryland Lusby TownCenter Williamsburg, Virginia New Town Cinema&Shops Creedmoor, North Carolina Creedmoor Commons Waynesboro, Pennsylvania –EastMainStreet CVS Pharmacy REPRESENTATIVE PROJECTS

Dinwiddie, Virginia Food Lion La Plata, Maryland HighwayCrain – CVS Pharmacy Milton, Delaware Milton Park Center Fort Mill, SouthCarolina Catawba Commons Fredericksburg, Virginia Center River ClubShopping Mebane, North Carolina Oak ManorMarket Goldsboro, North Carolina New HopePlaza Fredericksburg, Virginia Loop McWhirt – CVS Pharmacy Savannah, Georgia Addition Mall Savannah Savannah, Georgia Target Mall –Savannah Hanover, Maryland Village Arundel North Carolina Raeford, Center Shopping Hoke Landing Williamsburg, Virginia Marketplace WindsorMeade Newton Grove, North Carolina Plaza Circle Goochland, Virginia Commons Courthouse Suffolk,Virginia RoadBridge Plaza Westminster, Maryland Center Shopping Food Lion – Westminster Raleigh, North Carolina Falls River Town Center Ace Hardware – Oak Hall,Oak Virginia Center Shopping Oak Hall Fayetteville, North Carolina Center Shopping A.C. Moore –Crosspointe Raleigh, North Carolina Creek –Brier Winn-Dixie Holden Beach, North Carolina Commons Ocean View Laurel, Maryland Plaza Food –Crystal Lion & Shops Rocky Point, North Carolina PointRocky Plaza Fredericksburg, Virginia Butler Road Shops Edgemere, Maryland Food Lion Mount Pleasant, North Carolina Target Farms –Seaside Richmond, Virginia –E.CVS Pharmacy MainStreet Shippensburg, Pennsylvania –E.CVS Pharmacy KingStreet Rocky Mount, North Carolina Center Shopping Branch Mill Cary, North Carolina Mall Hills –South Kerr Drug Lewes, Delaware Five Villages of The Points Blacksburg, Virginia Food Lion –Hethwood Square Camden, Delaware Walmart Supercenter Raleigh, North Carolina Place Edgewater Charlotte, North Carolina Target Commons –Albemarle La Plata, Maryland Plaza Plata La

Crossroads Ford Sales Center Kerr Drug – Main Street Greencastle Market Place Cary, North Carolina High Point, North Carolina Greencastle, Pennsylvania

CVS Pharmacy – Butler Road Five Points Plaza Food Lion – Courthouse Commons Fredericksburg, Virginia Goldsboro, North Carolina Chesterfield County, Virginia

River Ridge Shopping Center Central Crossing The Market at Perry Creek Lewisville, North Carolina Central Garage, Virginia Raleigh, North Carolina

Super Target – Winslow Bay Centreville Park Centre Food Lion – Outer Banks Mall Mooresville, North Carolina Centreville, Maryland Nags Head, North Carolina

Madison Plaza Kerr Drug – Wakefield Cardinal Plaza Madison, Virginia Raleigh, North Carolina Henderson, North Carolina

The Shoppes at Bell Creek Circuit City – The Creeks Linens ‘N Things – Mechanicsville, Virginia at Virginia Center Glenwood Center Glen Allen, Virginia Raleigh, North Carolina McGee’s Crossing McGee’s Crossroad, North Carolina Winterpock Crossing Phase II Kerr Drug Midlothian, Virginia Benson, North Carolina Westlake Village Waldorf, Maryland Target – Manchester Village Cross Pointe Centre Rock Hill, South Carolina Jacksonville, North Carolina Target – Azalea Village Summerville, South Carolina The Shops at Ladysmith Food Lion – North Crain Highway Ladysmith, Virginia Glen Burnie, Maryland Villa Crossing Grottoes, Virginia Waynesboro Market Place Wakefield Commons Waynesboro, Pennsylvania Shopping Center Food Lion Raleigh, North Carolina Montross, Virginia Callaway Marketplace Callaway, Maryland Office Max – Huffman Mill Plaza Village of Painters Mill Burlington, North Carolina Owings Mill, Maryland Target – Columbia East Columbia, South Carolina Broad Street Market Target – Florence Commons Fuquay-Varina, North Carolina Florence, South Carolina Food Lion – Yorktowne Plaza Cockeysville, Maryland CORT Furniture Rental Bridgeville Park Center Raleigh, North Carolina Bridgeville, Delaware Crossroads Ford Service Center Cary, North Carolina Collins Plaza Eagle Farm Shopping Center Angier, North Carolina Wilson, North Carolina Flowers Plantation Clayton, North Carolina Food Lion – Glenwood Center Target – The Citadel Mall Raleigh, North Carolina Charleston, South Carolina Target Bluffton, South Carolina Hilltop Crossings Monticello Marketplace Shoppes Shopping Center Williamsburg, Virginia The Creeks at Virginia Center Fuquay-Varina, North Carolina Richmond, Virginia Wakefield Crossing Park Place Raleigh, North Carolina Walmart – College Park Morrisville, North Carolina Georgetown, Delaware CVS Pharmacy – Hannah Plaza North Third Street Virginia Center Marketplace Cresaptown, Maryland Oakland, Maryland Richmond, Virginia 11 ASHLAND CONSTRUCTION COMPANY Apex, North Carolina Peak Plaza Jacksonville, North Carolina Center Shopping Highland Crossing Fayetteville, North Carolina Center Shopping Rosehill Richmond, Virginia Colonnades West II Phase Jacksonville, North Carolina Center Shopping Crossing Williamsburg Chambersburg, Pennsylvania Westside Plaza Williamsburg, Virginia Monticello Marketplace Franklinton, North Carolina Franklinton Plaza Nashville, North Carolina Nashville Commons Goochland, Virginia Center Food Shopping Lion –Broad View Dillwyn, Virginia Plaza Buckingham Upper Marlboro, Maryland Food Square Lion –Marlboro Culpeper, Virginia Culpeper Town Mall Food Lion – George,King Virginia King George Plaza Chesapeake, Virginia Food Lion – Taylor Road Harrington, Delaware Midway Park Center Franklinton, North Carolina Kerr Drug Fredericksburg, Virginia Fields Salem Shops at The REPRESENTATIVE PROJECTS Hampton, Virginia Nickerson Marketplace Lillington, North Carolina Cape Fear Crossing Henderson, North Carolina Vance Building Industrial Henderson – High Point, North Carolina Target –OakHollow Mall Greensboro, North Carolina Target– Wendover Buena Vista, Virginia Center Shopping Plaza Hilltop Mount,Rocky Virginia Furnace Marketplace Norlina, North Carolina Warren Center Shopping Corners Christiansburg, Virginia Food Lion Plaza –Hills Spotsylvania, Virginia Traveler’s Center Row Shopping Newport, North Carolina TownCourtesy Square Varina, Virginia New Market Square George, Virginia Prince Village Lakes Branchester Hope,Spring North Carolina HopeCommons Spring Pembroke, North Carolina Plaza University Wilmington, North Carolina Center Shopping NorthChase Laurel, Delaware Center Shopping Laurel Square Fredericksburg, Virginia CVS –BattlefieldGreen Gloucester, Virginia Walter ReedPlaza Oxford, North Carolina Commons Oxford Franklin, Virginia Marketplace Winn-Dixie Alliance, North Carolina Pamlico Square Taneytown, Maryland Food Lion – EastBaltimore Street Henderson, North Carolina Food Lion – Henderson Mall Berlin, Maryland Plaza Brittingham Gordonsville, Virginia Gordonsville Plaza New KentCounty, Virginia New KentPlaza Washington, North Carolina & Winn-Dixie Renovation Washington Mall Square Grafton, Virginia at Yorktown Shoppes Apex, North Carolina Center Shopping Station Vineyard Manassas, Virginia Food Road Lion –Centerville Havelock, North Carolina Shopping Center Greenfield New Bern, North Carolina Target Denton, Maryland Food –5thAvenue Lion Plaza News,Newport Virginia PointOyster Marketplace Durham, North Carolina at Lakewood Food Lion – Shoppes The Richmond, Virginia Road Rite Aid– Williamsburg Powhatan, Virginia Powhatan Plaza Target – University Square Port Elizabeth Centre Greenville, North Carolina Elizabeth City, North Carolina

Westgate Square Shopping Center Harrison Square Dinwiddie, Virginia Cary, North Carolina

Winn-Dixie – Timberlake Station Huffman Mill Plaza Lynchburg, Virginia Burlington, North Carolina

Lake of the Woods Shopping Center Circuit City Superstores Wilderness, Virginia Fayetteville, Winston-Salem, Greensboro, Raleigh, North Carolina Lee’s Hill Shopping Center Spotsylvania County, Virginia Lynnhaven North Shopping Center Virginia Beach, Virginia Texel, Inc. Henderson, North Carolina Avent Ferry Shopping Center Raleigh, North Carolina Lee Hall Plaza Newport News, Virginia Glenwood Village Shopping Center Raleigh, North Carolina Harriet & Henderson – Bladen Plant North Plaza Shopping Center Bladen County, North Carolina Raleigh, North Carolina

Creekside Plaza Millville, Delaware

Oak Hall Shopping Center Holly Springs, North Carolina

Crescent Commons Shopping Center Cary, North Carolina

Target Goldsboro, North Carolina

Walmart – Henderson Square Henderson, North Carolina

Walmart Expansion – Taylors Square Greenville, South Carolina

Walmart Addition – Wando Crossing Mt. Pleasant, South Carolina

Paddington Station – Walmart Raleigh, North Carolina

Harbour Pointe Village Shopping Center Richmond, Virginia

Willow Place Shopping Center Richmond, Virginia 13 ASHLAND CONSTRUCTION COMPANY ,New York Shack Drive West Hartford, Realty,Developers Inc. New Castle, Delaware DonneDelle andAssociates, Inc. Woonsocket, Rhode Island CVS Pharmacy Wake Forest, North Carolina Crossroads Auto Group Baltimore, Maryland Corporation Continental Realty McLean, Virginia Compson Development Raleigh, North Carolina Commercial Properties, Inc. Columbia, SouthCarolina Columbia Development Charlotte, North Carolina Collett Richmond, Virginia Stores,Circuit City Inc. Henderson, North Carolina Chase Development Company Wilmington, North Carolina Capital Centre Development, Ltd. Raleigh, North Carolina Bob Hughes&Associates, Inc Henderson, North Carolina Properties,Barnett Inc Jacksonville, North Carolina &Associates,Bailey Inc. Charlotte, North Carolina Aston Properties Butler, Pennsylvania Armstrong Development Properties Chesapeake, Virginia Development Corporation Armada/Hoffler Raleigh, North Carolina Anderson Automotive Group DEVELOPERS/OWNERS

Myrtle Beach,Myrtle SouthCarolina Paramount Development Corporation Winston-Salem, North Carolina FoodLowes Raleigh, North Carolina Lincoln Harris Charlotte, North Carolina &Associates Purser Lat New Hyde Park, New York Corporation Kimco Realty Raleigh, North Carolina Kerr Drug, Inc. Raleigh, North Carolina Corporation Realty Kane Pittsburgh, Pennsylvania Company Realty Kamin Raleigh, North Carolina &Associates Garner Jim Gastonia, North Carolina JEM Development Company Camp Hill, Pennsylvania JC BarProperties, Inc. Raleigh, North Carolina Income Properties ofRaleigh, Inc. Virginia Norfolk, Commercial RealEstate Lindsay Harvey Matthews, North Carolina Harris Teeter Stores, Inc Wrightsville Beach, North Carolina RetailPartnersHarbour Virginia Norfolk, Hogan,Goodman Segar Inc Cary, North Carolina GFD Management, Inc. Salisbury, North Carolina Food Lion Stores, LLC Cleveland, Ohio Investmentsand Mortgage Union RealEstateEquity First Columbia, SouthCarolina Edens

Bentonville, Arkansas Walmart Stores, Inc. Raleigh, North Carolina Wakefield Associates Beach, Virginia Virginia Venture Group Realty Raleigh, North Carolina Vanguard Property Group Baltimore, Maryland Trout DanielandAssociates Longwood, Florida Development Corporation Timber Richmond, Virginia The Rebkee Company Fredericksburg, Virginia CompanySchooler The Malone Richmond, Virginia The Covington Company Minneapolis, Minnesota Target Corporation Ambler, Pennsylvania Advisors, Realty Summit LLC Augusta, Georgia Development Associates Southeastern Virginia Norfolk, S.L. Company Nusbaum Realty Henderson, North Carolina Corporation Rosemyr Fayetteville, North Carolina Commercial PropertiesRiddle Raleigh, North Carolina Centers Regency Columbia, SouthCarolina Developments Red Rock Charleston, SouthCarolina Realtylink Lakeland, Florida Publix Raleigh, North Carolina Associates,Plaza Inc. Cincinnati, Ohio &Company Phillips-Edison

TENANTS/OWNERS

Grocery Apparel & Footwear Other Retail Bottom Dollar Food Burke’s Outlet A.C. Moore Earth Fare Butler Shoes Advance Auto Food Lion Cato Auto Zone Harris Teeter Dress Barn Barnes & Noble Kroger Foot Locker Baskin Robbins Lidl Hamrick’s Bed, Bath & Beyond Lowes Foods Lane Bryant Best Buy Publix Old Navy Blockbuster Video Redner’s Market Payless Circuit City Safeway Pic ‘N Pay Conns Walmart Neighborhood Market Rack Room Shoes Dick’s Sporting Goods Winn-Dixie Ross Dress for Less Dollar General rue 21 Dollar Tree S&K Menswear Dunham Sports Discount & Shoe Carnival Family Dollar Home Improvement Shoe Department Fantastic Sam’s Ace Hardware Shoe Show Game Stop Great Clips Lowe’s Hair Cuttery Target Automotive Hallmark Cards Walmart Crossroads Chrysler Jeep Dodge Hibbett Sports Crossroads Ford Homegoods Crossroads Ford Quick Lane Jo Ann Fabrics Department Store Crossroads Infiniti Kirkland’s Belk Crossroads Nissan Linens ’n Things J.C. Penney Fred Anderson Kia Mattress Warehouse Marshall’s Fred Anderson Toyota Pre-Owned Michaels Sears Goodyear Movie Gallery TJ Maxx Office Depot Other Commercial Office Max Drug Omega Sports Cape Fear Discount Drug Drive Shack PDQ CVS/Pharmacy Hickory Tavern PetSmart Edgehill Drugs Radeas Laboratory PETCO Happy Harry’s Petsense Kerr Drug Pier One Imports Realo Drug Sally Beauty Rite-Aid Southern States Standard Drug Starbucks Thrift Drugs Super 10 Walgreens T Mobile TCBY Ulta Verizon

15 ASHLAND CONSTRUCTION COMPANY 919-859-7003 Raleigh, Carolina North 27607 978 TrinityRoad bai-Architects Spencer Will 919-845-7600 Raleigh, Carolina North 27615 Forks8522-204 Six Road LandDesign,Piedmont LLP Ron Hendricks 919-821-2800 Raleigh, Carolina North 27603 130 Penmarc Drive, 110 Suite Howard Architecture, P.A. HowardChris 919-578-9000 Raleigh, NC27607 4011 WestChase Boulevard, 290 Suite NC,Bohler Engineering PLLC Andrew Moriarty, P.E. Architects &Engineers 252-492-7551 Henderson, NC27536 Ave.,1775 Graham 201 Suite Properties,Barnett LLC Barnett Hall 919-789-9707 Raleigh, Carolina North 27612-6341 Place, 105 Suite 2840 Plaza Wakefield Associates, Inc. RoweRick 704-844-3103 Matthews, Carolina North 28106 Post OfficeBox 10100 Harris Teeter Stores, Inc. Michael Burdette 704-633-8250 Salisbury, Carolina North 28145-1330 Post OfficeBox 1330 Food LionStores, LLC Mike Eason Tenants &Owners REFERENCES 919-828-1331 Raleigh, Carolina North 27605 Post OfficeBox 10977 CPA,Lee PLLC Lee Allen Public Accountant Certified 910-435-3600 Fayetteville, Carolina North 28302 Post OfficeBox 2038 Inc. Services, Insurance McGriff Douglas English Bonding Agent 919-716-8677 Raleigh, Carolina North 27609 Forks4400 Six Road Bank Citizens First Covil Steve Bank 972-470-1777 75074 Plano, TX 740 FAvenue, 303 Suite Electric Shine Dan Shine 919-213-3912 Morrisville, Carolina North 27560 Post OfficeBox 189 Adams Products Company Gaw Cheryl 919-596-4446 Raleigh, Carolina North 27675-0127 Post OfficeBox 90127 B.A. &Associates, Hoft Inc. Hoft Phil 919-832-2804 Raleigh, Carolina North 27628 Post OfficeBox 6245 Company Custom Brick Fisher Grant Suppliers &Subcontractors 17 4601 Atlantic Avenue Raleigh NC 27604 919.872.7500 phone 919.872.7913 fax ashlandconstruction.com