the shops at boardman park Owned & Managed by Handel Investments LLC 721 Boardman Poland Road, Suite 101, Boardman, Ohio

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1 Owned & Managed by Handel Investments LLC 721 Boardman Poland Road, Suite 101, Boardman, Ohio

2 general market overview is in Boardman Township, just south of the city of Youngstown. Boardman, one of Ohio s largest townships has experienced strong growth over the last 10 years and is regarded as one of the most desirable residential and commercial locations in the region. The majority of commercial growth in Boardman has occurred along the US 224 corridor between I-680 and SR 7, Mahoning County s largest retail corridor. is the hub to this area. Since retail expanded into Boardman in the 50 s, Route 224 has become a focal point. About 10,000 businesses call Boardman Township home, drawing more than 100,000 people to township limits during the day to eat, shop, work and play. the shops at boardman park has been at the forefront of this development with a 97% occupancy rate achieved in 2011 with the addition of six retail shops. There has been a dramatic amount of growth. But the biggest and most noticeable change is that the center of Boardman used to be the mall, and now it s the Shops at Boardman Park. James Grantz, broker associate, Edward J Lewis Inc.

3 project description Situated on a 60-acre site with over one-quarter mile frontage on US Route 224 in Boardman Township, has become the dominant retail force in the region. This project commands a strong market position, located one mile east of the Southern Park Mall. It is further strengthened by national tenants that absolutely dominate their respective market segments. The anchor line-up for the Shops 500,000 plus square foot center include Target (125,000 sq.ft.), Kohl s Department Store (88,560 sq.ft.), T J Maxx/ Home Goods (53,000 sq. ft.), Value City Furniture (50,000 sq.ft.), Best Buy (45,000 sq.ft.), Office Max (29,930 sq.ft.), Barnes & Noble (25,000 sq.ft.), Boardman Movies 8 (27,000 sq.ft.), and Old Navy (15,000 sq.ft.). Complementing this line-up of national tenants is an impressive list of small shops. Totaling almost 75,000 square feet, these tenants include Chuck-e-Cheese, Ulta Beauty, Dollar Tree, Hallmark Showcase, five below, Quaker Steak & Lube, Vitamin Shoppe, Justice, America s Best, Panera Bread, Lane Bryant, H & R Block, carters babies and kids, Bath & Body Works, Ideal Image, T Mobile, Sally Beauty, Torrid, Rise Pies, Casual Pint, DiBella s Subs, Famous Hair, Chipotle Mexican Grille, and Wendy s. The combination of the project s unequaled tenant strength and its dominating location insures the continued success of The Shops at Boardman Park. No other project in the Youngstown region offers a more conducive environment for retail success.

4 trade area/accessibility s primary trade area extends north to the Youngstown central business district, east to the city of New Castle, Pennsylvania, south to the village of New Waterford and west to SR 534. The area contains 145,210 people. Meanwhile, the median household income is $51,878.(see Market Profile). Extensive marketing research has shown that shops primary trade area is a seven mile radius including Boardman (44512), Poland (44514), Canfield (44406) Youngstown South (44511), North Lima ( ), Austintown (44515) and Struthers (44471). Our secondary yet significant trade area extends to a mile radius to Youngstown North ( ), Lowellville( 44436) and Columbiana (44408). Data based research has also shown draws significant number of shoppers from across the PA line in the New Castle area. shops is well positioned to fully take advantage of these high discretionary income areas in Youngstown s southern suburbs. is easily accessible to the entire Mahoning County, Trumbull County, as well as the northern part of Columbiana County, and Western Pennsylvania. Located on US 224, to major four-lane east-west arterial in the Mahoning Valley, it is also benefits from its close proximity to I-680, SR 7 and SR 11. All three of these routes are well traveled and provide easy access to the Shops. Recent traffic counts conducted revealed average traffic counts of approximately 50,000 cars along the US 224 corridor between South Avenue and Southern Boulevard during an average 24 hour period.

5 competition US 224 in Boardman, along which the shops at boardman park is situated, is a regional retail destination. With fifteen competing and complementary retail facilities in the immediate vicinity, a significant regional retail market is attracted. With close access and proximity to I-680 and SR 11, coupled with our unique tenant mix, shops has proven to be one of the area s primary retail shopping destinations. S Center Name/ Location Distance Opened Anchors GLA (000) Southern Park Mall Less than 1MW JCPenney s 262 Macy s 187 Sears 178 Dillards 134 Boardman Plaza 2MW Burlington Michael s Crafts Save-a-Lot 58 USPS Ollie s Southland Crossing 1M/E Bed Bath & Beyond Plaza Walmart 126 Lowes 130 Giant Eagle 77 DSW Shoes 50 Across from SABP Bed Bath & Beyond Pier One Shoe Carnival Verizon Presidential Plaza 1/2 ME Talbots TRADE AREA FREESTANDING RETAIL STORES Home Depot Southern Blvd Less than 1M/E Gabriel Brothers Less than 1 M /E US RT 224 Walgreens SWQ US RT M/W Ham n/ More Chicos Suzanne s Tiffany Plaza 1M/E 1989 Marc s Catullo s Meats Classic Bakery Tiffany Square 1M/E 175 Hobby Lobby Sam s Club South Avenue 1ME Ashley Furniture Fin, Fur and Feather Tuesday Morning

6 primary trade area map Boardman Poland Austintown Canfield Youngstown South North Lima Struthers Columbiana Salem New Springfield 44443

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