EMPIRE FIESTA ANCHORS, PADS, AND SHOPS AVAILABLE FOR SALE OR LEASE - NEW CONSTRUCTION! PROJECT HIGHLIGHTS

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1 Southeast Corner of Empire Boulevard & Hunt Highway - Queen Creek, Arizona EMPIRE FIESTA Southeast Corner of Empire Boulevard & Hunt Highway - Queen Creek, Arizona ANCHORS, PADS, AND SHOPS AVAILABLE FOR SALE OR LEASE - NEW CONSTRUCTION! 17,0 00 C ARS PER DAY EM PIR E B OU LEV AD RO O TH R N T ) O SW T I O AY ELL ANSIIGHW (TRNT H HU ARD SHOPS B 10,000 sf 12,000 SHOPS A ANCHOR PAD E 10,000 sf 28,450 sf 4,200 sf PAD DE 4,200 4,500 sf 4,200 sf PAD C 4,500 MAJOR A PAD BC 4,200 4,500 sf MAJOR B 20,325 sf 4,500 sfsf SHOPS C 15,000 PAD AE 12,540 sf 4,200 4,500 sf 375 (IN ESCROW) CAR SEE INSERT FOR ENLARGED SITE PLAN For Anchors / Pads Contact: Estimated Population (2014) Projected Population (2019) Estimated Avg. Household Income (2014) Projected Avg. Household Income (2019) Average Household Size (2014) Total Daytime Employees (2014) Median Age (2014) 1 Mile 3 Miles 5 Miles 1,623 1,745 $77,851 $84, ,182 28,197 $78,961 $85, , ,286 80,226 $82,101 $88, , TRAFFIC COUNTS (2011 Source: Arizona Department of Transportation) Empire Boulevard Hunt Highway Total Cars Per Day 17,000 21,375 38,375 The information provided is gathered from sources deemed reliable. However, De Rito Partners makes no representations, warranties or guarantees as to its accuracy. The information has not been independently verified or confirmed by De Rito Partners. The information provided should not be relied upon to make any leasing or purchasing decisions. This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through De Rito Partners. PAD F 4,500 SF sf 4,500 CLIMATE CONTROL STORAGE BUILDING 21, DEMOGRAPHICS (Source: SitesUSA) BELLERO 178 UNITS (PL ANNED) PAUL SERAFIN (602) paul.serafin@derito.com MATT MORRELL (602) matt.morrell@derito.com For Shops Contact: SP ER DAY HU NT HI CREEKSIDE ESTATES GH WA Y PROJECT HIGHLIGHTS Hunt Highway is under construction and is the main arterial linking Queen Creek and the Town of Florence 2,086 building permits issued in Queen Creek in 2013 More than 5,900 lots in proposed subdivisions within Queen Creek GORDON HECKAMAN An estimated 24,000 new residents in Queen Creek by 2020 gordon.heckaman@derito.com Eight schools within 3 miles of subject site with over 4,500 students, teachers, and staff (602) CARL JONES, JR. (602) Notable tenants in the trade area: carl.jones@derito.com o E. Camelback Rd., Ste 175 Phoenix, AZ f The information provided is gathered from sources deemed reliable. However, De Rito Partners makes no representations, warranties or guarantees as to its accuracy. The information has not been independently verified or confirmed by De Rito Partners. The information provided should not be relied upon to make any leasing or purchasing decisions. This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through De Rito Partners.

2 QUEEN CREEK MIDDLE SCHOOL BENJAMIN FRANKLIN CHARTER SCHOOL IRONWOOD CROSSING 1,219 UNITS CRISMON RANCH 335 UNITS JACK BARNES QUEEN CREEK HIGH SCHOOL CHARLESTON ESTATES 200+ UNITS VICTORIA 188 UNITS CASTLEGATE 1,409 UNITS DESERT MOUNTAIN MONTELENA 281+ UNITS VILLAGES AT QUEEN CREEK 2,100 UNITS QUEEN CREEK AMERICAN LEADERSHIP ACADEMY HASTING FARMS 823 UNITS SONOQUI CREEK 169 UNITS CHURCH FARMS 2,310 UNITS JACK W. HARMON PECAN CREEK 3,086 UNITS FRANCES BRANDON PICKETT THE PECANS 176 UNITS ELLSWORTH LE SENTIERO 308 UNITS LAREDO RANCH 966 UNITS J.O. COMBS MIDDLE SCHOOL RANCHOS LEGANTE 61 UNITS SCHNEPF COMBS MEADOWS ORCHARD RANCHETTES 163 UNITS BELLERO 178 UNITS (PLANNED) & ARCHER 672 UNITS CIRCLE CROSS RANCH 5,070 UNITS PEGASUS AIRPARK 180 UNITS CIRCLE CROSS RANCH K-8 SCHOOL SAN TAN SHADOWS 1,228 UNITS CREEKSIDE ESTATES & ENCANTO REAL 48 UNITS MORNING SUN 1,697 UNITS SAN TAN HEIGHTS 5,280 UNITS SKYLINE RANCH MOUNTAIN VISTA MIDDLE SCHOOL SAN TAN HEIGHTS SKYLINE RANCH 1,121 UNITS SKYLINE ESTATES 1,017 UNITS

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4 PLANNED EXPANSION OF HUNT HIGHWAY BELLERO 178 UNITS (PLANNED) PEGASUS AIRPARK 180 UNITS Phase I - Empire Boulevard to Thompson Road 4 lanes with median turn lane Roadway design is complete Construction began November day construction duration Construction administered by the Arizona Department of Transportation Phase II - Thompson Road to Gary Road 4 lanes with median turn lane Roadway design is complete Construction planned for Summer 2014 CREEKSIDE ESTATES & ENCANTO REAL 48 UNITS

5 Empire Fiesta Trade Area Analysis, Queen Creek, AZ Prepared for De Rito Partners, Inc. I. Introduction The following report will analyze the population and household growth in an area surrounding Empire Fiesta shopping center in Queen Creek, Arizona. The subject area, referred to in this report as the Trade Area, is a 7 mile radius from the center of the subject, located on the SE corner of Empire Boulevard and Hunt Highway. Additional data is supplied for 1-, 3- and 5-mile radii from the center as well (see map below and in Exhibits 2 and 3). The subject site comprises of 30 net acres on two parcels and will have an Anchor (sq. ft. to be determined), plus Pads and Shops totaling 128,816 sq. ft., and 1,148 parking spaces. Figure 1: Empire Fiesta Locator Map and 1-, 3-, 5- & 7-mile Radius Circle Trade Areas Source: Google Earth, Metrostudy (SEE REVERSE SIDE FOR MORE INFO) 5

6 Empire Fiesta Trade Area Analysis, Queen Creek, AZ Prepared for De Rito Partners, Inc. II. Trade Area Summary and Analysis This is a high-growth area with over 163,000 residents that are generally characterized as home-owning young families. As Metro Phoenix grows, this area is along one of the main paths of growth to the southeast. The average household income is 7 percent higher than that of Metro Phoenix, and the median household income is 21 percent higher. The Trade Area experienced very rapid growth from , averaging 4,055 new households per year. From , growth has slowed, but is still a healthy 1,011 new households per year, which is expected to continue at a slightly elevated rate of 1,186 per year from The Trade Area s new home activity has declined in the past year as the 2,215 newhome starts over the past year represent a decrease of 3% from the previous year of total of 2,277 starts. The Trade Area still accounts for 19 percent of all Metro Phoenix Area homebuilding. There are 6,204 vacant developed lots that are ready for new home construction in the trade area, and Metrostudy is tracking another 23,059 future lots, so there is significant capacity for growth in the Trade Area. While the subject site is located in the City of Queen Creek, other cities that make up the Trade Area include parts of San Tan Valley and Gilbert. The Trade Area is characterized by higher than average incomes, young families, and homeowners (see below and Exhibits 7 and 8). The average household income is 7 percent higher than that of Metro Phoenix, and the median household income is 21 percent higher. The median age is lower but the typical household, comprised of 3.4 persons, is 23 percent larger than Metro Phoenix. This is partially due to the predominance of owner-occupied housing in the area, which tends toward larger households and a slightly more affordable price point for young families than Gilbert, which is located closer in. As one gets closer to the subject property, the average and median household incomes rise a little higher and the average household size increases slightly, indicating that this area is very attractive to young families. Table 1: 2014 Demographic Summary Comparison between Phoenix Metro and Trade Area The Trade Area is experiencing a large amount of growth. According to Nielsen Claritas, there are an estimated 163,484 people living in 48,516 households as of 2014 (see below and Exhibit 7). There were only 3,920 households in the Trade Area in 2000, so the number of households increased more than 12 times. Since the 2010 Census, growth has slowed somewhat, but it is still outpacing the Phoenix Metro area and is forecast to continue doing so through

7 Household Demographics For more information, please contact Doreen Cott, Economic Development Director at (480) or at Top Psychographic Segments (by % Households) 4.7% 7.1% 3.3% 1.9% Up and Coming Families- Uppermid, younger with kids (83.0%) 83.0% Sophisticated Squires- Wealthy, middle age with kids (7.1%) Green Acres- Upper-mid, middle age with kids (4.7%) Boomburbs- Wealthy, younger with kids (3.3%) Midland Crowd- Middle, middle age with kids (1.9%) Population Growth 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000-2,667 4,316 11,360 16,414 26,361 31,187 36,900 Proj Household Income Average household income $93,814 Median household income $80,932 Per capita income $30,597 Median disposable income $62,767 Total disposable income $618 million Average household size 3.42 Educational Attainment (population 25 years and over) High school graduate (or GED) 21.1% Some college, no degree 31.4% Associate degree 9.6% Bachelor s degree 23.4% Graduate/Professional degree 8.4% High school graduate or higher 93.9% Bachelor s degree or higher 31.8% Age Distribution Under 15 years old 32.6% Under 25 years old 44.2% Under 35 years old 59.2% 11.1% 17.2% 12.7% 15.0% 32.6% 11.6% Under 15 (32.6%) (11.6%) (15.0%) (17.2%) (11.1%) 55 and up (12.7%) Data on this page sourced by: U.S. Census Bureau, American Community Survey, Arizona Department of Administration s Office of Employment and Population Statistics, ESRI Business Analyst Online.