MORGANTON PARK SOUTH Southern Pines, North Carolina

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1 MORGANTON PARK SOUTH RETAIL SPACE & OUTPARCELS AVAILABLE AVAILABLE OUTPARCELS OUTPARCEL acres LEE NAILS & SPA OLD MORGANTON ROAD PATRIOT BLVD SHOPS III SHOPS II FUEL OUTPARCEL acres OUTPARCEL acres pure barre SHOPS IV OUTPARCEL acres MORGANTON ROAD 16,000 VPD Retail Space & Outparcel Opportunities LOCATION: 2482 Morganton Road Southern Pines, NC HIGHLIGHTS: Retail Critical Mass: Shadow anchored by Kohl s, Hobby Lobby, Ulta Beauty and Frank Theatres; 300,000 SF of Retail Part of larger 188 acre Morganton Park master development Convenient to downtown Pinehurst, downtown Southern Pines, Aberdeen and the area s world- renowned golf courses Adjacent to Morganton Road Sports Complex with ± 1,000 people visiting the complex daily Located across from a future 800-student elementary school opening Fall of 2019 DEMOGRAPHICS::: 3mi 5mi 7mi 10 mi 2017 Est. Pop: 21,993 42,896 55,600 66, Avg. HHI: $81,549 $83,017 $83,138 $80,055 TRAFFIC COUNTS: 16,000 VPD on W Morganton Road

2 MORGANTON PARK SOUTH Future Elementary School (Opening Fall of 2019) THE PAVILION - OFFICES &CHAR BAR & TOAST CAFE pure barre FUEL SHOP I LEE NAILS & SPA

3 MORGANTON PARK SOUTH SHOPS IV pure barre OUTPARCEL I 1.13 ACRES ACRES FUEL SHOPS II SHOP I 1700 SHOPS III LEE NAILS & SPA FUTURE COMMERCIAL DEVELOPMENT SPACE STATUS OUTPARCELS AVAILABLE RETAIL SPACE AVAILABLE LEASED SPACE PROPOSALS OUT PENDING LEASE OUTPARCEL 1 OUTPARCEL 2 OUTPARCEL 3 OUTPARCEL ACRES 0.97 ACRES 1.15 ACRES 0.48 ACRES

4 MORGANTON PARK SOUTH Future Elementary School (Opening Fall of 2019) Pinecrest Plaza Morganton Park North Morganton Park South Mo rga nto nr d SHOP I Southern Pines Village 16,00 PD 19, / Morganton Road Sports Complex (± 1,000 People Daily) PD 00 V US Watson Lake 0V PD 00 V 17,0

5 SHOP I MORGANTON PARK SOUTH CENTRAL LOCATION / PLANNED SCHOOL: Morganton Park South is part of a larger 180 acre Morganton Park master planned community that will eventually include 600 apartment units, 300,000 square feet of office, a joint Pinehurst/Southern Pines elementary school and additional retail. The sites central location with proximity to both Pinehurst and Southern Pines creates a unique opportunity to serve the two largest communities in the Sandhills with convenience. As a testament to the central location, Moore County Schools has recently purchased a site directly across the street in Morganton Park North to consolidate three elementary schools (Pinehurst, Southern Pines and Aberdeen) into one new school. Planning and design is underway, and construction is slated to begin in September, School officials have stated that completion is projected for early 2019, with an opening of Fall Pinecrest Plaza Morganton Park North Future Elementary School (Opening Fall of 2019) Morganton Rd Morganton Park South Southern Pines Village Watson Lake US 15/501 Morganton Road Sports Complex (± 1,000 People Daily)

6 MORGANTON PARK SOUTH NCDOT ROAD CHANGES The corridor from Morganton Road to US 1 via 15/501 clearly represents the critical mass of national and regional retailers in Moore County. NCDOT has adopted the attached plan to construct an interchange at the intersection of 15/501 and US 1 with the potential to significantly impact traffic patterns and ingress/egress for retailers at that end of the corridor. In addition, DOT intends to make 15/501 a superstreet, heavily reliant on U turns which are not convenient for the retail customer. This will further impairing access, connectivity and co-tenancy at that end of the corridor. The town of Southern Pines has already begun giving feedback to developers of property on 15/501 that they would not allow new traffic lights/intersections due to these road improvements. Having just completed a DOT approved traffic study for Morganton Park, we are confident the Morganton Road end of the corridor will remain stable and predictable as our recent road improvements create the capacity to add additional traffic without warranting additional road improvements

7 MORGANTON PARK SOUTH Future Elementary School (Opening Fall of 2019) Pinecrest Plaza Morganton Park North Morganton Park South Mo rga nto nr d SHOP I Southern Pines Village US / Watson Lake Morganton Road Sports Complex (± 1,000 People Daily) The map illustrates the estimated areas that will be affected by the NCDOT road changes. These areas are outlined in Red.

8 MORGANTON PARK SOUTH PROJECT HIGHLIGHTS: Strong Anchor New Class A retail small shops and outparcels delivered in conjunction with a Flagship Lowes Foods. The 50,000 sf grocer is bringing a fully rebranded store complete with Chicken Kitchen, Sausage Works, Pick & Prep, The Beer Den and the Community Table. Store finishes include stainless steel, custom LED lighting and internally illuminated coolers and freezers for a look that matches or exceeds Publix and Harris Teeter. Lowes Gas Lowes is also constructing a gas station with the intention of using highly competitive gas prices to lure shoppers to the center and drive traffic, a benefit that carries over to the co-tenants in the center. Movie Theater Co-tenancy In addition, the center is co-anchored by Frank Theatres, the only modern cinema in a 20 mile radius. With an estimated more than 100,000 visits a year the theatre pulls from a much wider trade area than the grocer and attracts guests and potential small shop patrons on a counter cyclical basis to the grocer maintaining a steady demand for small shop retailers and restaurants. Stable Road Network Approved DOT plans to limit access on US 1 with a super street design at the intersection of 15/501 and US 1 will have a meaningful future impact on much of the retail adjacent to Morganton Park. Additional DOT plans call for 15/501 to a super street with limited access from US 1 to Brucewood further impacting connectivity and ingress/egress at this end of the retail corridor. With the super street concept ending at Brucewood, Morganton Park and the immediately adjacent retail stand to benefit from a conventional road network that remains consistent with charm and pace of Pinehurst and Southern Pines. Retail Critical Mass In addition to Lowes Foods and the Sandhills Theatre, additional retail within a half mile of the center include Kohl s, ULTA, Hobby Lobby, Brixx Pizza, Char Bar, Toast Coffee House, and Full Moon Oyster Bar. Tourism Moore County ranks 10th out of 100 North Carolina counties in tourism spending with more than $440 million spent annually as a direct result of tourism. With 44 active golf courses, including world renowned Pinehurst Number 2, golf is a major driver for the tourism industry. Note that behind golf, the most common activities to engage in while traveling to Moore County are dining (87%) and shopping (68%). Second Homes A significant portion of the housing stock serves as second homes and is not fully reflected in demographics. More than 50% of the homes in prominent local communities like County Club of North Carolina serve as second homes. Morganton Road Sports Complex Located ¼ miles East on Morganton Road, the Town of Southern Pines operates this baseball, football, and soccer sports complex that attracts as many as 1,000 people a day to the area, and is operational 7 days a week. Morganton Park South is the most proximate retail to this complex and in many ways the sports complex will serve as an additional traffic driver to the Property. Outdoor Areas The shopping center is designed with wide sidewalks, extensive landscaping and up to five locations for outdoor dining. Outdoor dining creates a unique opportunity to differentiate your restaurant against its peer group while also adding revenue generating tables without the overhead of rented space.