I-540 & TRIANGLE TOWN BOULEVARD

1 540 TRIANGLE TOWN BOULEVARD I-540 & TRIANGLE TOWN BOULEVARD RALEIGH, NORTH CAROLINA LAND FOR SALE 23.97 ACRES 60.52 ACRES

CONTENTS 02 EXECUTIVE SUMMARY 03 PROPERTY INFORMATION 11 LOCATION OVERVIEW 15 RETAIL & MULTIFAMILY MARKET SNAPSHOT 18 RALEIGH AREA HIGHLIGHTS

EXECUTIVE SUMMARY I-540 AND TRIANGLE TOWN BOULEVARD Foundry Commercial is pleased to offer two highly desirable development tracts for sale located along I-540 in North Raleigh. These parcels, which include a 23.97 acre parcel and a 60.52 acre parcel, represent two of the largest tracts of undeveloped land along I-540 in one of the most dynamic retail areas in the Triangle. Unbeatable local and regional transportation connectivity Located in one of the fastest growing submarkets in the Triangle which allows a developer to take advantage of increased infrastructure, population growth and rising incomes SITE The highly recognizable Capital Boulevard/Triangle Town Boulevard location has convenient access to US 1 Highway/Capital Boulevard, Interstate 540, US 401 Highway Flexible zoning allows retail, multifamily, office and mixeduse development FOUNDRY COMMERCIAL 2

PROPERTY INFORMATION

PROPERTY INFORMATION 6350 TRIANGLE TOWN BOULEVARD ADDRESS WAKE COUNTY PIN 1727825409 6350 Triangle Town Boulevard, Raleigh, NC 61,000 VPD MUNICIPALITY City of Raleigh TOTAL ACREAGE CURRENT ZONING CURRENT USAGE 23.97 acres (per GIS) CX-5-PK-CU Raw Land 6350 TRIANGLE TOWN BLVD 540 SEWER & UTILITIES Municipal water and sewer LIST PRICE $8,400,000 UNDER CONTRACT FOUNDRY COMMERCIAL 4

PROPERTY INFORMATION UNDER CONTRACT 6350 TRIANGLE TOWN BOULEVARD TOPOGRAPHY The site sits above I-540 and Triangle Town Boulevard providing excellent visibility. Topography is considered similar to other area sites. EASEMENTS 6350 Triangle Town Boulevard is not impacted by any significant easements. WATER AND SEWER Water and sewer infrastructure are in place and are provided by the City of Raleigh. There are multiple existing 16 water mains on Triangle Town Boulevard, Old Wake Forest Road, Town Center Drive, and Town Drive. An existing 14 sewer line runs along Town Drive along the southeastern portion of the site. 6350 TOPO & SEWER ROAD INFRASTRUCTURE The parcel is bordered on the north by I-540 and on the west by Triangle Town Blvd. Town Drive borders the site to the south and an existing traffic signal is installed at Town Drive and Triangle Town Boulevard providing excellent access to the site. It is anticipated that few offsite road improvements will be required. FOUNDRY COMMERCIAL 5

PROPERTY INFORMATION 6700 CAPITAL BOULEVARD ADDRESS 6700 Capital Boulevard, Raleigh, NC 540 WAKE COUNTY PIN 1727638689 MUNICIPALITY TOTAL ACREAGE CURRENT ZONING CURRENT USAGE UTILITIES City of Raleigh 60.52 estimated acres CX-5-PK-CU Raw Land Municipal water and sewer 6700 CAPITAL BLVD LIST PRICE $11,500,000 TRIANGLE TOWN BLVD FOUNDRY COMMERCIAL 6

PROPERTY INFORMATION 6700 CAPITAL BOULEVARD EASEMENTS 6700 Capital Boulevard is encumbered by a power line easement which runs through the eastern portion of the property. We have assumed that a developer may be able to utilize land in the easement for parking. WATER AND SEWER Water and sewer infrastructure is provided by the City of Raleigh and the site is served by both. Stream buffers and wetland areas were delineated in 2008 and findings are shown on the attached sketch plan. ROAD INFRASTRUCTURE It is anticipated that the City of Raleigh will require a roadway through the site connecting Town Center Drive along the western edge of the property with Town Drive to the east. An existing traffic signal exists at Triangle Town Boulevard and Town Drive. TOWN BLVD WEST PARCEL FOUNDRY COMMERCIAL 7

PROPERTY INFORMATION S&EC BUFFER SKETCH 6350 TRIANGLE TOWN BLVD 6700 TRIANGLE TOWN BLVD UNDER CONTRACT NEUSE RIVER BUFFERS & WETLANDS 6350 Triangle Town Boulevard is not impacted by Neuse River buffers or wetlands. 6700 Capital Boulevard has a creek buffer along the eastern side of the property and a smaller buffer along the western side of the site. Two small wetlands are shown on the eastern most creek buffer area. Soil & Environmental Consultants completed a wetlands/ creek buffer delineation in 2008 and 2009 and received USACE Jurisdiction Determination (JD) which has now expired. A DWQ stream buffer determination report was also issued and should remain valid until December 2017. FOUNDRY COMMERCIAL 8

PROPERTY INFORMATION 6350 TRIANGLE TOWN BLVD 6700 CAPITAL BLVD 23.97 acres 60.52 acres UNDER CONTRACT FOUNDRY COMMERCIAL 9

PROPERTY INFORMATION ZONING The subject property is located within the City of Raleigh s Commercial Mixed-Use, CX-5-PK-CU zoning district which allows for a variety of residential, retail, service and commercial uses which promotes a live-work environment. UNDER CONTRACT Buildings may not exceed 5 stories in height and will be governed by certain Parkway Frontage (PK), Special Highway Overlay (SHOD-2) and Conditional Use (CU) requirements (available upon request) associated with the surrounding area. For more information on the existing zoning designation please go to: www.raleighnc.gov/content/extra/books/plandev/ UnifiedDevelopmentOrdinance/#129 ZONING CX-PK-CU FOUNDRY COMMERCIAL 10

LOCATION OVERVIEW

LOCATION OVERVIEW 1 540 PLANTATION POINT SHOPPING CENTER 50,000 VPD 61,000 VPD FUTURE MULTI-FAMILY DEVELOPMENT UNDER CONTRACT OLD WAKE FOREST RD 1 TRIANGLE TOWN BLVD FUTURE MULTI-FAMILY DEVELOPMENT 11,000 VPD OLD WAKE FOREST RD WAKE TECHNICAL COMMUNITY COLLEGE OAK FOREST DR 50,000 VPD TRIANGLE TOWN CENTER POYNER PLACE 540 SPRING FOREST RD CAPITAL BLVD 41,000 VPD 401 SPRING FOREST RD 20,000 VPD LOUISBURG RD FOUNDRY COMMERCIAL 12

LOCATION OVERVIEW 540 PLANTATION POINT SHOPPING CENTER 61,000 VPD 8,740 VPD FUTURE MULTI-FAMILY DEVELOPMENT UNDER CONTRACT 1 TRIANGLE TOWN BLVD FUTURE MULTI-FAMILY DEVELOPMENT 11,000 VPD OLD WAKE FOREST RD 540 50,000 VPD TRIANGLE TOWN CENTER POYNER PLACE FOUNDRY COMMERCIAL 13

LOCATION OVERVIEW DEMOGRAPHICS 3 MILES 5 MILES 7 MILES 10 MILES 2016 ESTIMATED POPULATION 78,561 179,043 300,752 525,258 2021 PROJECTED POPULATION 86,853 198,186 333,591 582,238 2016 ESTIMATED HOUSEHOLD INCOME $72,539 $80,236 $90,495 $87,201 2016 ESTIMATED HOUSEHOLDS 30,627 72,032 121,956 209,189 2021 PROJECTED HOUSEHOLDS 34,268 80,652 136,880 235,231 DEMOGRAPHICS 3 MINUTES 5 MINUTES 7 MINUTES 2016 ESTIMATED POPULATION 21,667 61,904 108,767 2021 PROJECTED POPULATION 23,967 68,437 120,332 2016 ESTIMATED HOUSEHOLD INCOME $62,311 $72,216 $78,763 2016 ESTIMATED HOUSEHOLDS 8,696 24,191 42,325 2021 PROJECTED HOUSEHOLDS 9,736 27,068 47,381 TRAFFIC COUNTS TRIANGLE TOWN BOULEVARD OLD WAKE FOREST ROAD HWY 401 CAPITAL BOULEVARD 8,740 VPD 11,000 VPD 41,000 VPD 50,000 VPD I-540 61,000 VPD FOUNDRY COMMERCIAL 14

RETAIL & MULTIFAMILY MARKET SNAPSHOT

MARKET SNAPSHOT RETAIL The area surrounding Triangle Town Center mall has experienced a tremendous uptick in retail interest and demand from retailers and developers as the market has stabilized and matured over the past few years. The existing retailers in the trade area have benefited from an increase in sales as traffic to the area has boomed and the economy has recovered significantly. The two tracts offer a tremendous opportunity for numerous retailers, restaurants, entertainment, hospitality, lodging and other users to capitalize on the surge of demand in the second largest retail trade area in the region. With the road infrastructure of I-540 and US 1, strong retail demand, and continuing residential growth in North and Northeast Raleigh, the sub-market is ripe for the next wave of demand that has become apparent in the marketplace. With over 6 million SF of retail space in the US 1/Capital Blvd. submarket, this one mile area has one of the highest concentrations of shopping center space in all of Raleigh/Durham. Just a few years ago, the submarket had a vacancy rate of nearly 15% but is now down to a healthy 8.15% according to Triangle Business Journal's Space Magazine. With numerous anchor and junior anchor retailers seeking locations in close proximity to Triangle Town Center, they just can't find the space or location that meets their requirements. With a large cluster of these retailers seeking opportunities, there is meaningful demand and a real need for land. The 23.97 and 60.50 tracts are well positioned to accommodate this demand. 8,000,000 RALEIGH-DURHAM RETAIL LEASABLE SQUARE FOOTAGE 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 (SF) 0 West Raleigh US 70/Glenwood Six Forks Falls of Neuse US 1/Capital Boulevard Downtown Raleigh Cameron Village Eastern Wake County Submarkets Southern Wake County Cary RTP/I-40 Corridor Central Durham North Durham South Durham Orange County/Chapel Hill FOUNDRY COMMERCIAL 16

MARKET SNAPSHOT MULTIFAMILY NO. 2 FASTEST GROWING LARGE US CITY FROM 2016-2030 United Nations Population Division The Raleigh-Durham metro area continues to be one of the hottest multifamily development markets in the country due to a red-hot economic recovery with nearly 50,000 jobs created in the past two years and the #1 Fastest Growing Metro from 2000-2013 according to CityLab (April 2015). Accordingly, construction starts have exploded over the last two years and there are now 8,835 units under construction throughout the Triangle, with an additional 4,919 units proposed to be built. Drilling down to the Northeast Raleigh submarket where the subject property is located, there are 7,237 total units which constitute approximately 5.3% of the total Triangle market. Located in a substantial path of growth due to fast-growing suburb of Wake Forest, the submarket vacancy is a healthy 5.7%. The average square footage in this submarket is 985 square feet and units average monthly rents of $975 ($1.01 per square foot). There are currently 483 units under construction and 392 units proposed, though the local pace of growth indicates that the area can support additional apartment development. FOUNDRY COMMERCIAL 17

RALEIGH AREA HIGHLIGHTS

RALEIGH AREA HIGHLIGHTS STELLAR NATION-LEADING POPULATION GROWTH Home to more than 2.0 million residents, the Raleigh-Durham CMSA is continually ranked as one of the fastest growing metros in the U.S., welcoming more than 720,000 newcomers between 2000 and 2014 for a 55% cumulative uptick in population. RALEIGH-DURHAM HAS HISTORICALLY POSTED STRONG JOB GROWTH with a healthy current unemployment rate of 4.4%. The region has added nearly 30,000 net new jobs in the past twelve months. HIGHLY-RANKED JOB CREATION, QUALITY OF LIFE Due to its robust economy, inviting business climate, highly-educated workforce, established infrastructure, and outstanding quality of life, the Triangle consistently garners accolades touting its appeal to businesses and residents alike. EXCEPTIONAL EDUCATIONAL CACHET The Triangle moniker references the geographic location of the area s three most esteemed educational, medical, and research universities: Duke University in Durham, North Carolina State University in Raleigh, and the University of North Carolina in Chapel Hill. DIVERSIFIED, INNOVATION- BASED ECONOMY The Triangle is anchored by world-class universities, well-managed state and local governments, and operations of many of the nation s leading technology, biotechnology, pharmaceutical, and health care firms. OUTSTANDING LONG-TERM PROSPECTS With the right pieces in place for a thriving economy and a rising quality of life, population and economic growth are fully expected to continue to rank highly amongst other U.S. cities for the long-term. FOUNDRY COMMERCIAL 19

RALEIGH AREA HIGHLIGHTS TRIANGLE REGION HISTORICAL POPULATION TRENDS YEAR UNITED STATES % NORTH CAROLINA RALEIGH-DURHAM ANNUAL JOB GROWTH % RALEIGH- D U R H A M - CARY CSA 1 2015 Estimate 318,857,100 3% 9,993,105 5% 2,036,374 9% 2010 Census 308,745,538 10% 9,535,483 18% 1,867,307 34% 2000 Census 281,421,906 13% 8,049,313 21% 1,412,128 14% 1990 Census 248,709,873 10% 6,628,637 13% 1,072,158 24% 1980 Census 226,545,805 11% 5,874,000 16% 861,479 22% 1970 Census 203,392,031 5,082,059 708,453 Growth 1970-2015 57% 97% 187% CAGR 1970-2015 1.0% 1.5% 2.4% CAGR 2000-2015 0.8% 1.5% 2.5% Source: Census.gov, American FactFinder 1- CSA includes 11 counties Harnett, Chatham, Durham, Orange, Person, Vance, Granville, Wake, Johnston, Franklin, and Lee % ECONOMIC VIBRANCY N o. 1 BEST CITY FOR JOBS GLASSDOOR, MAY 2015 N o. 1 METRO FOR LIFE SCIENCE CLUSTERS BUSINESS FACILITIES, AUGUST 2015 N o. 2 METRO AS A TECH JOB LEADER BUSINESS FACILITIES, AUGUST 2015 N o. 2 CITY FOR BUSINESS AND CAREERS FORBES, JULY 2015 N o. 3 METRO FOR ECONOMIC GROWTH BUSINESS FACILITIES, AUGUST 2015 N o. 3 CITY WHERE WHITE-COLLAR EMPLOYMENT IS BOOMING FORBES, JULY 2015 N o. 3 TOP LABOR MARKET CAREERBUILDER, JULY 2015 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 PROJECTED N o. 4 CITY WITH THE HIGHEST CONCENTRATION OF TECH JOBS IN THE U.S SIMPLY HIRED, JULY 2015 ANNUAL JOB GROWTH HFF PROJECTION N o. 6 TOP NEW HUB FOR ECONOMIC GROWTH BLOOMBERG, JUNE 2015 FOUNDRY COMMERCIAL 20

RALEIGH AREA HIGHLIGHTS AN ENVIABLE QUALITY OF LIFE Established, high-amenity crossroads located at the center of one of the nation s most high-growth metros with an enviable quality of life. The Triangle region has added an average of 125 new residents per day between 2010 and 2014. The region continues to attract a steady stream of new residents from all over the world. With the right pieces in place for a thriving economy and a rising quality of life, population and economic growth are fully expected to continue to rank highly amongst other U.S. cities for the long-term. ONE OF THE COOLEST TOWNS GQ AMONG TOP 10 TASTIEST TOWNS IN THE SOUTH SOUTHERN LIVING #3 BEST CITY FOR HEALTH AND HAPPINESS ECOSALON N o. 1 MID-SIZED AMERICAN CITY OF THE FUTURE FINANCIAL TIMES, APRIL 2015 N o. 2 BEST LARGE CITY TO LIVE IN WALLETHUB, AUGUST 2015 N o. 2 MOST AFFORDABLE MARKET WITH GOOD SCHOOLS REALTYTRAC, NOVEMBER 2014 N o. 3 COMMUNITY IN THE U.S. FOR OVERALL WELL-BEING GALLUP-HEALTHWAYS WELL-BEING INDEX, APRIL 2015 N o. 3 LABOR MARKET IN THE U.S. CAREERBUILDER & EMSI, FEBRUARY 2015 N o. 4 FASTEST-GROWING CITY FORBES, JANUARY 2015 N o. 7 REAL ESTATE MARKET TO WATCH IN 2015 TRULIA, DECEMBER 2014 N o. 10 TOP CITY FOR EMPLOYEE SATISFACTION FORBES, JUNE 2015 FOUNDRY COMMERCIAL 21

foundrycommercial.com JIM ALLAIRE, SIOR Managing Director (919) 576 2691 jim.allaire@foundrycommercial.com JAMES MATTOX Managing Director (919) 576 2696 james.mattox@foundrycommercial.com KARL HUDSON IV, CCIM Vice President (919) 987 1012 karl.hudson@foundrycommercial.com