Jackson Square Promenade FOR SALE $5,800,000 / MAI APPRAISAL $6,500,000 Aug 2016 Perfect shopping center for an Absentee Owner Turn key operation!

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1 Jackson Square Promenade FOR SALE $5,800,000 / MAI APPRAISAL $6,500,000 Aug 2016 Perfect shopping center for an Absentee Owner Turn key operation! A 323,000 sq. ft. shopping center consisting of 50 spaces on a 33 acres lot with 800 feet frontage on HWY I-55. DO NOT COMMUNICATE WITH THE TENANTS UNDER ANY CIRCUMSTANCES Current 8% CAP and 15% Cash-on-Cash ($18 / ft) Great Opportunity current 8% CAP rate! 2460 Terry Road, Jackson, MS Contact For More Information: Tel J.W@StrictlyInvestments.com

2 INVESTMENT HIGHLIGHTS 323,000 square feet, 53% occupied center is the largest open regional mall in Jackson, Mississippi situated on 32 acres of prime, high visibility real estate The mall is strategically positioned between heavily traveled Highway I-55 (Memphis New Orleans) with 80,000 cars per day and I-20 (Dallas Atlanta) with 75,000 cars per day and Terry Road with 15,000 cars per day, offering superb visibility with nearly a mile of frontage onto I-55 Offered at 8% CAP rate with 15 % Cash-on-Cash and 35 % projected return at 75% occupancy. Turnkey operation has been set up especially for an absentee Owner, ideal for out of State purchaser. Located 15 minutes from Jackson airport, 5 minutes from downtown and just a few minutes from Jackson State University. The center is situated in the midst of high-density residential area of South Jackson. Existing onsite management, maintenance, janitorial and security crew are fully trained to run the mall. The staff includes a general manager, maintenance crew, security guards, janitor and ground maintenance run the operation. The sales price includes inventory of tools, material and supplies. Presently there are 3 large vacancies covering 136,000 sq. ft. (Buildings #2,600 / 2,700, #2,800 and #3,000). We will teach you both on & off site management for a year to be on the same course. The price includes the present business of Event center consisting of weddings, parties, small to medium size parties within the Galleria I and II covering 37,000 feet of which Galleria II was newly built. All rents and CAM charges are collected by the 5 th to Max 15 th of each month. MAI APPRAISAL OF $6.5 M IN August 2016 BY THE LENDER $8.7 M Stabilized Motivation to sell is to purchase an enclosed mall (negotiation in progress).

3 EXECUTIVE SUMMARY Jackson Square Promenade is a 32 acre site with Gross Leasable Area of 326,000 square feet. It is an Internet integrated open shopping mall (largest open mall in Jackson, MS) located between heavily traveled I-55, I-20 and Terry Road in Jackson, MS. It has 1,100 parking spaces and over 56 landscaped islands (8x20 feet dimensions) throughout the parking lot. It has six entrances both from Terry Road and Frontage Road with visibility from both freeways. The mall is comprised of 46 spaces ranging from 170 sq. ft. to 40,000 sq. ft. There are three buildings on the property: 1. The South Building has 83,000 sq. ft. consisting of 26 spaces with one (1) vacancy. - Galleria-I has 12 office/retail spaces that are all fully rented plus 13,500 sq. ft. of two floor wedding, banquet and function area with a capacity of 400 people. Presently the only vacant space (#125) is 2,000 ft. and it is under renovation. - Galleria-II with 24,000 sq. ft. is just received it s occupancy permit for 1,100 people and has a total of five (5) function rooms and additional two (2) office/retail spaces for weddings and banquets and meeting facilities. There is a high demand in Jackson for banquet room facilities to accommodate weddings and other functions. Galleria-II will have its own bathroom facilities, loading duck and storage. Once the construction is completed, Galleria-II will be connected to Galleria-I through present hallways. 2. The West Building is a two-story 6,200 sq. ft. freestanding building facing Terry Road. 3. The North Building is 236,000 sq. ft. with three (3) vacancies. The north building has seventeen (17) spaces of which 12 of them are occupied including Hinds County Sheriff Department. Current vacancies in this building are: Spaces #2600 and #2700 (two adjacent spaces 82,000 sq. ft, which used to be Zayers Department Store), Space #2800 (15,000 sq. ft.), Space #125 (2,000 sq. ft.) and Space #3000 (40,000 sq. ft.) which is a brick building facing I-55 and I-20 freeway. The renovation on the 3 vacancies has been scheduled. The largest tenant is Bingo Depo with 26,000 sq. ft. Bingo Rama (the other bingo) has opening hours that alternate with Bingo Depo s covering between them seven (7) days a week operation. Nearly one third of the leasing area (130,000 sq. ft.) has undergone major renovations including new electrical wiring, HVAC and plumbing with new air-conditioning units with warranties. Nearly one third of the leasing area (136,000 sq. ft.) has undergone major renovations including new electrical wiring, flooring, ceiling, HVAC and new plumbing with new air-conditioning units.

4 TENANT SUMMARY There are a total of 54 spaces in Jackson Square Promenade There are a total of 43 tenants occupying 43 spaces. There are a total of 37 spaces in the South Building with 83,000 sq. ft. Galleria-I or space # 1,000 also houses two spaces (G 11 and G12) as a part of management & development office. There are two common area bathroom facilities. Galleria-I has a total of 14 spaces (G 11 through G 22) of which G 23 is the upstairs space being used for Bride & Groom change facility and the main event is in G 24 Space # 1,100 or Galleria-II, has a total of five (5) function rooms and two additional spaces (G 25 and G 26). Additional management staff is needed to run both Galleria-I and Galleria-II covering 14 retail / offices and 6 event / function rooms. There are a total of 16 spaces in the North Building of which 11 spaces are occupied. There are a total of three large vacancies in the North building (# 2600 / #2700, #2800 and #3,000). The North Building also houses a Freight area that has not been developed and the maintenance department (#2500).

5 PROPERTY EXECUTIVE SUMMARY (continued) Jackson Square Promenade is an absentee owner dream! It is a turnkey operation with onsite management, maintenance, janitorial and security staff already in place. Galleria Office Park (Space #1000 with 18,000 sq. ft.) consists of 12 retail / offices on a month-to-month leases and an Event Center. Galleria I has been a gateway for new start up tenants to open their business and later expand to store front spaces within the center. Presently there are no rent ready vacancy available for rent in the in the center. The gross income in Galleria-I varies between $4,000 to $8,000 per month potential. Galleria II (Space # 1,100 with 24,000 sq.ft.) will be completed by July It will have 5 function / event rooms including a Chappell. Galleria II has the potential to generate minimum $1000/Saturday per room with total of $20,000/month and maximum $2000/Saturday & Sunday per room with total of $40,000/month. The present crew can continue to renovate 57,000 sq. ft. (covering the electrical, plumbing and hvac) out of 139,000 ft vacancy area (not covering 82,000 sq. ft. space #2600 / #2700) to bring the number of vacancies from four (4) down to one (1). The 57,000 sq. ft. (spaces #125; #2800; and #3000) can easily rent for $6 to $8 per sq. ft., creating an approximate annual income of $350,000 therefore increasing the occupancy to 75%. The 82,000 sq. ft. can either be demolished or renovated as it represents 25% of the gross leasing area. Onsite manager and maintenance crew cover 5 days a week; security covers all shifts except daytime on weekdays and weekends. There is a full size storage and tools/supply room for maintenance department. The maintenance crew uses a company van to service the tenants and renovate the vacancies. All rents are due on 5 th of each month with exception of two tenants that pay on the 15 th of each month. Onsite manager issues monthly rent invoices to each tenant on the 1 st of every month. If a tenant doesn t pay the rent and CAM charges by the 5 th, an additional 10% penalty is assessed and collected. All rents are typically collected by the 5 th of each month. All collected rents are deposited into a main account in a local bank; all mortgage payments are transferred from the same account. All vendor payments and expenses are transferred into the operating account from the main account and paid by onsite manager. The shopping center official website ( attracts both tenants and clients. Potential tenants can see the pictures and information on the vacancies, fill out and submit rental application form online. Clients can see the information about current tenants products, services and hours of operation, photos, etc. The website is designed to promote both start up and new businesses. A very easy-to-use online system, allows the new owner quickly to make changes to the website (update tenants, vacancies, etc.) Both the website and pylon sign with tenants names get updated on a quarterly basis.

6 THE OFFERING Property: Property Address: Jackson Square Promenade 2460 Terry Road, Jackson, MS Assessor's Parcel Number: /2012 SITE DESCRIPTION Number of Stories: 1 Year Built: 1968 Gross Leasable Area (GLA): Lot Size: Type of Ownership: Landscaping: 324,000 SF Acres Fee Simple Minimum CONSTRUCTION Foundation: Exterior: Parking Surface: Roof: Slab Concrete Block Asphalt Bar Joist / Rigid Frame INTERIOR DETAIL Walls: Drywall

7 SUMMARY Jackson Square Promenade experience the difference Price: $5,800,000 FINANCIAL SUMMARY FINANCING Down Payment: $1,500,000 First Loan Amount: $4,300,000 Number of Units: 50 Interest Rate: 7% FIXED Terms: 30 Amo, rate adj in 5 yrs Current CAP Rate: 8.00% Payments PI $297 K /yr Pro forma CAP Rate: 18.40% Year Built: 1968 Gross Leasable Area: 323,000 Approx. Lot Area (Acre): 32 Cost Per Gross RSF: $17 Lease type: NNN OPERATING DATA CURRENT Pro Forma Scheduled Gross Income: $740,000 $1,220,000 Less Vacancy Rate: $0 0.00% * $ % * Gross Operating Income: $740,000 $1,220,000 Less Expenses: $276, % * $400,000 33% * Net Operating Income: $463,000 $820,000 Less Loan Payments: $297,000 $190,000 Pre-Tax Cash Flow: $166,000 15% ** $630,000 63% ** Plus Principal Reduction: $0 $0 Total Return Before Taxes: $166,000 15% ** $630,000 63% ** *As a percent of Scheduled Gross Income **As a percent of Down Payment SCHEDULED INCOME EXPENCES CURRENT RENT MARKET RENT Taxes: $45,000 No. of Average Monthly Monthly Monthly Units Sq. Ft. Annual Insurance: $46,548 Rent $/Sq.Ft. Income Rent/Unit Income Electricity: $40, ,813 $6 $72,500 $7 $106,000 Water & Sewer: $12, ,000-40,000 VACANT* $7 $30,000 Trash: $7,000 NOTE: The total large vacant sq. ft. is 136,000 of which # 2600 / 2700 is 81,830 ft plus # #2800 is 15,000 ft plus #3,000 is 40,000 ft Maint: $30,000 Payroll $96,000 On-Site Security: $50,000 Monthly Schedule Gross Income: $62,000 at 40% Occupancy Annual Scheduled Gross Income: $740,000 Total: $276,548

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