6000 Fairview Road • Suite 110 • Charlotte , NC 28210 • 704-370-3000 • Fax: 704-370-6507

www.southeastcommercial .com

33 ACRE MIXED USE SITE FOR SALE MOORESVILLE, NC

PROPERTY HIGHLIGHTS

+/- 33 acres

Frontage on Hwy 21 and Waterlynn Road’s

Land Use calls for Neighborhood Mixed Use development

Uses include Apartments, Townes, Office, Retail

Water, Sewer at site

Strong employment hub

$150,000 PER ACRE

Contact Gino Chiaravalloti or Larry Core

704.370.3000

The 33 acre site located on Highway 21 and Waterlynn Road’s in Mooresville, NC, which historically is

one of the highest barriers-to-entry market in all of Charlotte. The site is within a five minute drive of

over two million square feet of new retail centers, restaurants, and a movie theater. Furthermore,

residents of this location will enjoy easy access to several major employment nodes due the close

proximity to I-77. Residents can access Uptown Charlotte (25 minutes to the South), Lake Norman (3

Minutes to the west) and Charlotte-Douglas International Airport (35 minutes South).

LOCAL AMENITY GROWTH • Lake Norman, which is located directly to the west of the asset, is one of Charlotte’s most popular destinations. Lake Norman is the largest body of fresh water in the Eastern United States. • Just south off of I-77 is Langtree at the Lake, an $800 million dollar development project that currently restarted construction and will feature a hotel, upscale residential, golf course, and office. Langtree at the Lake will bring 300,000 square feet of office space to the area. • While a correction is clearly underway, the underlying economics of the Charlotte market has helped

the resilience of the multi-family industry. Sales in Q1 2011 reached just over $165,000,000 which is

already a third of the total sales from 2010. Charlotte’s strong fundamentals, coupled with increasing

rental rates and decreasing vacancy rates, will continue to attract buyers to the Charlotte market.

LOCATION HIGHLIGHTS Major Retail Corridor Within a two mile radius of the site there is over two million square feet of retail: • Winslow Bay Commons houses a Super Target, Dick’s Sporting Goods, Pier 1 Imports, and Ross. • Mooresville Crossing a 190,000 sf retail center, features five large out parcels, including Best Buy, Old Navy, Staples, and Bed Bath & Beyond. • Also nearby are AmStar Cinema, Super Wal-Mart, Lowe’s Home Improvement, Harris Teeter, and Lowe’s Foods. • Just 10 minutes south on I-77 in Huntersville is Birkdale Village. Birkdale Village features 285,000 square feet of retail and office space. Birkdale is one the most popular destinations in North Mecklenburg County for shopping, dining and entertainment. The mixed-use development center is anchored by Barnes & Noble, Gap, Williams & Sonoma, Eastern Federal Theater, and Banana Republic. • Northlake Mall (over 1 Million Sq Ft), the newest shopping mall to the Charlotte MSA features more than 150 stores and is only 15 minutes from the site.

Blue Chip Employment Concentration NASCAR Mooresville, which is nicknamed Race City USA , is home to over 60 race teams and more than 100 race-related suppliers. Several of the NASCAR teams are based two miles from Reserve at Lake Norman. Each team employs between 100 and 400 employees. Entrylevel engineers can earn $45,000 per year, while seasoned engineers and mechanics earn in excess of $100,000 per year. Micropolitan City For the seventh straight year the Mooresville area in Iredell County has been ranked in the top two for the leading Micropolitan city in the country. The Micropolitan Awards focus on those communities of 50,000 people or fewer for their ability to secure new corporate facilities. According to Site Selection magazine, the majority of our community’s capital investment projects in 2010 were the result of existing industry expansions. This is definitely a clear indication that business and industry in our community is stabilizing and continuing to find growth opportunities. Lowe’s Home Improvement Lowe’s Home Improvement headquarters, the second largest home improvement store in the World, has recently announced it plans to hire 300 people for IT jobs, including 150 new positions. Lowe’s recently built a new two million square foot headquarters facility and is expected to house as many as 12,000 employees. Lowe’s is located only minutes from the site. University Research Park The Reserve at Lake Norman is located 20 minutes from the University Research Park (UR P). T Employers include TIAA -CREF , IBM , Wells Fargo, and Bell South.

Location Map

CHARLOTTE MSA OVERVIEW Nationally recognized as a major commercial and financial center in the Southeast, Charlotte’s appeal is manifested by its moderate climate, diversified economy and attractive residential neighborhoods. According to the U.S. Conference of Mayors, Charlotte was named the nation’s most livable city. Charlotte’s most outstanding characteristic is that it has become a regional city. Although the metropolitan area itself has a large population base and has experienced strong and diversified growth since the 1970s, it has the potential for further growth that has attracted favorable local and national attention. As Charlotte increasingly fulfills its regional role, it will continue to be one of the most attractive investment areas in the Southeastern United States. In the context of the Sunbelt growth, Charlotte enjoys locational advantages for such a southern shift. It is believed that Charlotte and Mecklenburg County should continue to serve as the major urban and economic center for North Carolina and South Carolina because of it’s central location between Atlanta and Washington, DC.

Four Foot Contours

Traffic Counts

Executive Summary Prepared by Gino Chiaravalloti

©2011 Esri 3/01/2012 Page 1 of 2

Lat: 4240222.897842, Lon: -9... Latitude: 35.559833

Longitude: -80.852284Ring: 1, 3, 5 Miles

1 mile radius 3 miles radius 5 miles radius

2010 Population Total Population 3,983 27,364 65,851 Male Population 50.1% 50.0% 49.7% Female Population 49.9% 50.0% 50.3% Median Age 39.5 38.8 37.6

2010 Income Median HH Income $67,050 $67,086 $66,841 Per Capita Income $30,190 $30,148 $31,196 Average HH Income $76,521 $77,417 $80,687

2010 Households Total Households 1,614 10,645 24,985 Average Household Size 2.45 2.55 2.54

2010 Housing Owner Occupied Housing Units 66.3% 66.2% 65.2% Renter Occupied Housing Units 24.2% 23.6% 21.9% Vacant Housing Units 9.5% 10.2% 12.8%

Population 1990 Population 914 11,536 27,300 2000 Population 1,535 17,990 43,044 2010 Population 3,983 27,364 65,851 2015 Population 4,706 31,620 76,406 1990-2000 Annual Rate 5.32% 4.54% 4.66% 2000-2010 Annual Rate 9.75% 4.18% 4.24% 2010-2015 Annual Rate 3.39% 2.93% 3.02%

In the identified market area, the current year population is 65,851. In 2000, the Census count in the market area was 43,044. The rate of change since 2000 was 4.24 percent annually. The five-year projection for the population in the market area is 76,406, representing a change of 3.02 percent annually from 2010 to 2015. Currently, the population is 49.7 percent male and 50.3 percent female.

Households 1990 Households 381 4,542 10,123 2000 Households 624 6,970 16,060 2010 Households 1,614 10,645 24,985 2015 Households 1,911 12,316 29,162 1990-2000 Annual Rate 5.06% 4.38% 4.72% 2000-2010 Annual Rate 9.71% 4.22% 4.41% 2010-2015 Annual Rate 3.44% 2.96% 3.14%

The household count in this market area has changed from 16,060 in 2000 to 24,985 in the current year, a change of 4.41 percent annually. The five-year projection of households is 29,162, a change of 3.14 percent annually from the current year total. Average household size is currently 2.54, compared to 2.55 in the year 2000. The number of families in the current year is 17,670 in the market area.

Housing

Currently, 65.2 percent of the 28,667 housing units in the market area are owner occupied; 21.9 percent, renter occupied; and 12.8 percent are vacant. In 2000, there were 18,042 housing units - 66.6 percent owner occupied, 22.2 percent renter occupied and 11.3 percent vacant. The rate of change in housing units since 2000 is 4.62 percent. Median home value in the market area is $248,529, compared to a median home value of $157,913 for the U.S. In five years, median home value is projected to change by 5.36 percent annually to $322,623. From 2000 to the current year, median home value changed by 4.19 percent annually.

Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and 2015. Esri converted 1990 Census data into 2000 geography.

Executive Summary Prepared by Gino Chiaravalloti

©2011 Esri 3/01/2012 Page 2 of 2

Lat: 4240222.897842, Lon: -9... Latitude: 35.559833

Longitude: -80.852284Ring: 1, 3, 5 Miles

1 mile radius 3 miles radius 5 miles radius

Median Household Income 1990 Median HH Income $37,000 $31,426 $32,095 2000 Median HH Income $62,745 $52,131 $52,890 2010 Median HH Income $67,050 $67,086 $66,841 2015 Median HH Income $74,763 $74,162 $73,936 1990-2000 Annual Rate 5.42% 5.19% 5.12% 2000-2010 Annual Rate 0.65% 2.49% 2.31% 2010-2015 Annual Rate 2.2% 2.03% 2.04%

Per Capita Income 1990 Per Capita Income $15,895 $14,872 $14,640 2000 Per Capita Income $30,036 $25,758 $26,738 2010 Per Capita Income $30,190 $30,148 $31,196 2015 Per Capita Income $32,676 $32,907 $34,222 1990-2000 Annual Rate 6.57% 5.65% 6.21% 2000-2010 Annual Rate 0.05% 1.55% 1.52% 2010-2015 Annual Rate 1.6% 1.77% 1.87%

Average Household Income 1990 Average Household Income $43,191 $38,092 $38,842 2000 Average Household Income $77,869 $65,717 $70,586 2010 Average HH Income $76,521 $77,417 $80,687 2015 Average HH Income $82,769 $84,397 $88,162 1990-2000 Annual Rate 6.07% 5.6% 6.16% 2000-2010 Annual Rate -0.17% 1.61% 1.31% 2010-2015 Annual Rate 1.58% 1.74% 1.79%

Households by IncomeCurrent median household income is $66,841 in the market area, compared to $54,442 for all U.S. households. Median household income is projected to be $73,936 in five years. In 2000, median household income was $52,890, compared to $32,095 in 1990.

Current average household income is $80,687 in this market area, compared to $70,173 for all U.S. households. Average household income is projected to be $88,162 in five years. In 2000, average household income was $70,586, compared to $38,842 in 1990.

Current per capita income is $31,196 in the market area, compared to the U.S. per capita income of $26,739. The per capita income is projected to be $34,222 in five years. In 2000, the per capita income was $26,738, compared to $14,640 in 1990.

Population by Employment Total Businesses 232 1,707 3,251 Total Employees 4,375 17,769 32,714

Currently, 89.0 percent of the civilian labor force in the identified market area is employed and 11.0 percent are unemployed. In comparison, 89.2 percent of the U.S. civilian labor force is employed, and 10.8 percent are unemployed. In five years the rate of employment in the market area will be 91.1 percent of the civilian labor force, and unemployment will be 8.9 percent. The percentage of the U.S. civilian labor force that will be employed in five years is 91.2 percent, and 8.8 percent will be unemployed. In 2000, 67.8 percent of the population aged 16 years or older in the market area participated in the labor force, and 0.1 percent were in the Armed Forces.

In the current year, the occupational distribution of the employed population is:

62.9 percent in white collar jobs (compared to 61.6 percent of U.S. employment)•12.9 percent in service jobs (compared to 17.3 percent of U.S. employment)•24.2 percent in blue collar jobs (compared to 21.1 percent of U.S. employment)•

In 2000, 82.6 percent of the market area population drove alone to work, and 3.3 percent worked at home. The average travel time to work in 2000 was 27.6 minutes in the market area, compared to the U.S. average of 25.5 minutes.

Population by EducationIn 2010, the educational attainment of the population aged 25 years or older in the market area was distributed as follows:

10.6 percent had not earned a high school diploma (14.8 percent in the U.S.)•26.2 percent were high school graduates only (29.6 percent in the U.S.)•10.3 percent had completed an Associate degree (7.7 percent in the U.S.)•21.2 percent had a Bachelor's degree (17.7 percent in the U.S.)•10.2 percent had earned a Master's/Professional/Doctorate Degree (10.4 percent in the U.S.)•

Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and 2015. Esri converted 1990 Census data into 2000 geography.