Creating a shopping lifestyle. It s what we know.

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1 W H I T E H A L L S TAT I O N L I B E R T Y, M I S S O U R I Creating a shopping lifestyle. It s what we know. A joint venture of CBL & Associates Properties, Inc. and Ferguson Properties, Inc.

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3 Whitehall Station will be the premier shopping destination for northeast Kansas City, Missouri opening Spring This open-air lifestyle shopping center, located in Liberty, will offer dramatic streetscape architecture, lush landscaping and pedestrian walk ways to align with the main street feel of the city.

4 Strategically Located S T R AT E G I C A L LY L O C AT E D Q U I C K FA C T S Liberty is the county seat of Clay County, MO. Shoal Creek Valley is one of the region s fastest growing residential areas. Map not to scale W H I T E H A L L S TAT I O N I S... At the intersection of I-35, Highway 69 and the new South Liberty Parkway. Less than 5 minutes from I-435, the interstate that encircles the Kansas City Metro area. About 20 minutes from Kansas City International Airport. Location is everything and Whitehall Station has the market cornered. Located in Liberty, Missouri (15 miles northeast of downtown Kansas City), the lifestyle center will be intersected by I-35, Highway 69 and the new South Liberty Parkway. Whitehall Station will also be located near the newly constructed Flintlock Fly-over, a connector over I-35 which is projected to be traveled by more than 27,000 cars per day. The Flintlock Fly-over will provide quick access to Shoal Creek Valley, one of the region s fastest growing areas. According to a recent traffic study, Whitehall Station will enjoy more than 135,000 cars per day trafficking around the center. In addition to great location, visibility and high traffic counts, Whitehall Station will also offer premium access with five entrances into the shopping center, one of which will be a direct exit off I-35 that will intersect with the main entrance into the center.

5 The Center Liberty has over 1 million square feet of retail space, less than 1% is vacant. P R O J E C T S I Z E 700,000 +/- sq. ft. O P E N I N G Spring 2010 Whitehall Station will offer a department store, specialty lifestyle retailers, restaurants and a state-of-the-art, stadium seating multi-screen theater complex and a hotel. R E TA I L E R S Department Store Bookstore Sporting Goods Store Hotel and Theater Peripheral Property Available T H E P O W E R C E N T E R

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7 WHITEHALL STATION

8 Trade Area Liberty is one of the fastest growing areas in Kansas City with more than 93,517 people within a five-mile radius. Average household income is $65,044. Strong growth is projected to continue. By 2011, population within a three-mile ring is 2006 Demographics Population Average HH Income Total over $50,000/year 3 MILE 31,707 $67, % 5 MILE 93,517 $65, % 10 MILE 329,143 $56, % T R A D E A R E A estimated to increase 10.93% and household income is projected to increase 10.22% to $74, Demographics (projected ) 3 MILE Population 35,174 Average HH Income $74,745 5 MILE 100,111 $71, MILE 344,234 $62,436

9 Employment MAJOR EMPLOYERS Major employers that headquarter within the trade area include: AMC Entertainment Hallmark Cards H&R Block Sprint Nextel Corporation Capital Federal Financial JE Dunn Westar Energy Garmin Ford Motor Company A suburb of Kansas City, Liberty s largest employers include Hallmark and is home to the operations headquarters for Ferrellgas, the largest retail provider of propane in the USA. There are a number of companiesthat are growing their business in the community through expansion or new operations in this area. These include Bayer Corporation, Citi Cards, Farmers Insurance, Federal Express, John Deere, International Speedway Corporation, Liberty Mutual, Lowe s, MasterCard, Pacific Sunwear, Procter & Gamble, T-Mobile USA, Target, and Wal-Mart. MARKET FACTS 58% of employees within a ten-mile radius of Whitehall Station are whitecollar employees. Whitehall Station s daytime population within a 5-mile radius is 41,204. Clay County ranked 2nd in retail sales per household in 2004 and projects it will be #1 by Source: Sales & Marketing Management magazine E M P L O Y M E N T

10 Living in Liberty New housing developments surround Whitehall Station s site with new subdivisions, apartments, condominiums and planned communities ranging in prices from $300,000 up to $700,000. Shoal Creek Valley in Kansas City is a 1,700-acre development. It is a mix of residential and retail plus a 200-acre golf course. The area is almost entirely inside the Liberty School District and is more in the culture and influence of Liberty than of Kansas City. New Town, a mixedhousing development with 10,000+ homes, is set to begin construction in Liberty in L I V I N G I N L I B E R T Y This 928-acre development is planned to be an allencompassing traditional neighborhood, just north of the city. It will offer more than 10,000 homes including cottage homes, stately row houses, lofts, detached villas, and single-family houses. Homes start in the range of $150,000 up to $700,000.

11 Education There are more than 12 colleges and universities located within the Liberty trade area. The University of Kansas at Kansas City and Rockhurst University total over 17,000 students and are located less than 15 miles from Whitehall Station. In addition, Liberty offers its own post-secondary student base, William Jewell College. One of the nation s top liberal arts colleges, William Jewell has a current enrollment of more than 1,300 students. The annual tuition per student exceeds $20,000. Liberty public schools are known across the state for excellence having received the coveted Distinction in Performance award every year since the award s inception six years ago. Increased growth and migration to the northern areas of Kansas City has this school system s enrollment exceeding more than 10,000 students. E D U C AT I O N

12 W H I T E H A L L S TAT I O N For Leasing information: Justice Wade Senior Director - Development Leasing CBL & Associates Properties, Inc Justice_Wade@cblproperties.com Larry Turk Director - Development Leasing CBL & Associates Properties, Inc Larry_Turk@cblproperties.com Jay Ferguson Executive Vice-President Ferguson Properties, Inc jayferguson@fergprop.com Jeff Sharp Associate Ferguson Properties, Inc jsharp@fergprop.com For Development information: Ron Fullam Senior Vice-President - Development CBL & Associates Properties, Inc Ron_Fullam@cblproperties.com Cardon Smith Development Manager CBL & Associates Properties, Inc Cardon_Smith@cblproperties.com For restaurant information: Bryant Siragusa National Director of Mall Restaurants and Entertainment CBL & Associates Properties, Inc Bryant_Siragusa@cblproperties.com For Peripheral Property Information: Phil McNeely Director - Peripheral Properties CBL & Associates Properties, Inc Phil_McNeely@cblproperties.com T O P E M P L O Y E R S 10

13 W H I T E H A L L S TAT I O N L I B E R T Y, M I S S O U R I

14 CBL & Associates Properties, Inc. cblproperties.com Corporate Office CBL Center, Suite Hamilton Place Boulevard Chattanooga, TN Boston Regional Office Watermill Center, Suite South Street Waltham, MA Dallas Regional Office Atrium at Office Center, Suite Greenway Drive Irving, TX NYSE: CBL Ferguson Properties, Inc. fergprop.com #1 Victory Drive, Suite 200 Liberty, MO market dominant. shopper savvy.

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