cover Bloomingdale Hills Riverview, Florida James D. Hudgins, Founder v. 678.722.2001 Integrity Experience Results [email protected] www.stoneridgecapital.com Bloomingdale Hills Riverview, Florida Executive SummarySummary Property Overview Tenant Information Financial Analysis Market Summary Offering Terms & Conditions Introduction Stone Ridge Capital is pleased to present the opportunity to acquire Bloomingdale Hills, a newly developed 78,686 square foot grocery-anchored shopping center (99% occupied) located in Riverview, (Tampa) Florida. Built in 2002, Bloomingdale Hills features a solid tenant base and is anchored by Albertsons Grocery store (61,286 SF), St. Joseph Children’s Hospital of Tampa (6,000 SF) and an outstanding line-up quality retail shops. The shopping center is further enhanced by a superior line-up of national outparcel tenants including Hollywood Video, McDonald’s, Wendy’s, Subway and Amscot Financial. Other retailers in the immediate area include Publix, Super Target, Wal-Mart, Home Depot, and Walgreen’s. This strategically positioned neighborhood center sits at the intersection of West Bloomingdale Avenue and Providence Road, just minutes from the newly expanded Westfield Brandon, formerly known as Brandon Town Center Mall. Riverview, Florida is a high growth community located in Hillsborough County and conveniently situated along the I-75 & US Highway 301 corridor, just about 15 minutes from downtown Tampa and 45 minutes from the beautiful beaches of Bradenton, Florida. NOI (2007): $460,964 Center Size: 78,686 sq. ft. Occupancy: 99% Anchor: 61,286 sq. ft. Shop Space: 17,400 sq. ft. Year Built: 2002 Major Tenants: Albertsons St. Joseph’s Children’s Hospital Integrity Experience Results 2 Bloomingdale Hills Riverview, Florida Executive SummarySummary Property Overview Tenant Information Financial Analysis Market Summary Offering Terms & Conditions Investment Highlights Albertsons – opened this new state-of-the-art grocery store in April 2002 and leases 61,286 square feet within the shopping center. Albertsons built their own building and leased the building pad for a period of 25 years (4/08/2002 — 4/27/2027). Their current base rent is $3.34 psf with scheduled increases of 5% for each of their 8 option periods. This premier store is one of 95 Albertsons operating in the State of Florida. St. Joseph Children’s Hospital opened a 6,000 square foot facility in October 2002. Their initial lease term was 5 years. St. Joe recently exercised their 1st renewal option through September 30, 2010. Their base rent will increase to $21.56 per square foot as of October 1, 2007. National Outparcel Tenants – Bloomingdale Hills is further enhanced by an outstanding line-up of national outparcel tenants including Hollywood Video, 7-11, McDonald’s, Wendy’s, Subway & Amscot Financial (not included in this offering). Debt Free – The shopping center is not encumbered by an existing commercial mortgage. High Growth Area – Riverview, Florida is a very high growth area of Hillsborough County. The population within 1 mile is projected to grow approximately 37% over the next five years. Traffic Counts – The daily traffic along West Bloomingdale Avenue currently exceeds 40,000+ trips per day. Integrity Experience Results 3 Bloomingdale Hills Riverview, Florida Executive SummarySummary Property Overview Tenant Information Financial Analysis Market Summary Offering Terms & Conditions Offering Summary Bloomingdale Hills 10863 West Bloomingdale Avenue Riverview, Florida 33569-3616 Major Tenants Albertsons - 61,286 SF St. Joseph Hospital – 6,000 SF Year Built 2002 Building Size 78,686 SF Site Size 9 (+-)acres Location Strategically located off I-75 – US Highway 301 at the intersection of W. Bloomingdale Ave & Providence Road Occupancy 99% Income & Expense 2007 Anchor Base Rent: $204,695 Shop Base Rent: $355,543 Recoveries: $161,926 Gross Income: $722,164 Vacancy Factor: $25,873 Effective Gross Income: $696,291 Expenses: $235,327 Stabilized NOI: $460,964 Integrity Experience Results 4 Bloomingdale Hills Riverview, Florida Executive SummarySummary Property Overview Tenant Information Financial Analysis Market Summary Offering Terms & Conditions Financial Highlights Bloomingdale Hills is being offered without an asking price and is not encumbered by an existing commercial mortgage. 64% of the base rent is derived from the long term credit anchor tenants (Albertsons & St. Joseph Children’s Hospital) offering the investor strong annual cash flow. The shop tenants within shopping center are paying an average rental rate of $20.43 per square foot, well within the rental rate range for comparable shop space in competing centers throughout the sub- market. Conclusion Bloomingdale Hills Shopping Center has prospered since its development in 2002. The national, regional and local tenant mix is solid thus resulting in a property which has experienced a very successful tenant occupancy history. This strategically positioned neighborhood grocery anchored center sits at the intersection of West Bloomingdale Avenue and Providence Road, just minutes from the newly expanded Westfield Brandon, formerly known as Brandon Town Center Mall. Riverview, Florida is a high growth community located in Hillsborough County and conveniently situated along the I-75 & US Highway 301 corridor, just about 15 minutes from downtown Tampa. The center sits in the middle of a well established, highly visible and dominant retail trade area (Wal- Mart, Super Target, Home Depot, Publix and Walgreens). The location features strong daily traffic counts, healthy demographics and excellent accessibility. With its superb historical tenant occupancy and strong anchor tenant credit (Albertsons), this center will likely be considered the area’s dominant community shopping center well into the future. Integrity Experience Results 5 Bloomingdale Hills Riverview, Florida Executive Summary Property OvervieOvervieww Tenant Information Financial Analysis Market Summary Offering Terms & Conditions Location Map Integrity Experience Results 6 Bloomingdale Hills Riverview, Florida Executive Summary Property OvervieOvervieww Tenant Information Financial Analysis Market Summary Offering Terms & Conditions Property Photos Integrity Experience Results 7 Bloomingdale Hills Riverview, Florida Executive Summary Property OvervieOvervieww Tenant Information Financial Analysis Market Summary Offering Terms & Conditions Property Highlights Location: Riverview, Florida is one of Tampa Bay’s most explosive suburban growth areas. It is conveniently located along the I-75 & US Highway 301 corridor 15 minutes from Tampa, 45 minutes from the beautiful beaches of Bradenton, Florida, one hour from Walt Disney World, and two and a half hours from Kennedy Space Center and the east coast of Florida. Retail Growth: Big Box national retailers continue to open new locations along the explosive West Bloomingdale Avenue. Retailers that have recently opened in Riverview along West Bloomingdale Avenue include Home Depot, Super Target (Oct. 2007), Walgreen’s, Publix, & Sweet Bay Markets. Less than 2 miles away is the newly expanded Westfield Brandon, formerly known as Brandon Town Center Mall, which features a tremendous retail and residential base. Demographics & Economy: Riverview continues to have steady growth in both population and work force. The estimated population growth within one mile of the Bloomingdale Hills is 37% over the next 5 years. Housing development is growing at a staggering rate annually with Hillsborough County continuing to set records for housing & multi-family permits. Unemployment is below the state level and has the county’s largest employment growth sector. The predominant employment sectors for this area are services and retail trade. Radius Population Households Average Growth 2005-2010 HH Income 1 Mile 8,709 3,449 $63,677 37.00% 3 Miles 70,211 27,158 $65,680 25.30% 10 Miles 155,854 57,379 $67,342 16.48% Integrity Experience Results 8 Bloomingdale Hills Riverview, Florida Executive Summary Property OvervieOvervieww Tenant Information Financial Analysis Market Summary Offering Terms & Conditions Close-up Aerial Photo Integrity Experience Results 9 Bloomingdale Hills Riverview, Florida Executive Summary Property OvervieOvervieww Tenant Information Financial Analysis Market Summary Offering Terms & Conditions Market Aerial Photo Integrity Experience Results 10 Bloomingdale Hills Riverview, Florida Executive Summary Property Overview TenantTenant InformationInformation Financial Analysis Market Summary Offering Terms & Conditions Site Plan Integrity Experience Results 11 Bloomingdale Hills Riverview, Florida Executive Summary Property Overview TenantTenant InformationInformation Financial Analysis Market Summary Offering Terms & Conditions Tenant Summary The two largest shop tenants at Bloomingdale Hills Shopping Center are St. Joseph Children’s Hospital occupying 6,000 square feet and DHM Dental Group occupying 2,400 square feet. There is currently only one vacancy within center containing 900 square feet. Great Clips has a lease expiration of August 31, 2007 but they are scheduled to exercise the first 5 year option contained in their lease. The shopping center shop tenants are paying an average rent of $20.43 psf. Tenant Size (SF) Lease Expiration Rent (PSF) Albertsons 61,286 April 7, 2027 $3.34 DHM Dental Group 2,400 July 31,2014 $18.00 Cutie Beauty Salon 1,200 April 30, 2008 $16.88 Pizza (Grotheer) 1,200 Feb. 29, 2011 $24.96 New Tenant 900 TBD $22.00 Dollar Party 1,500 April 30, 2010 $20.05