Tulare, CA the heart of the Greater Fresno/Bakersfield marketplace

Tulare, CA the heart of the Greater Fresno/Bakersfield marketplace

Facts & Fundamentals The more than 226,000 square foot project is ideally located off Highway and Prosperity Avenue, a well-traveled route in the Central Valley of California between the Fresno and Bakersfield regions.

Featuring a robust collection of more than 0 leading designer and favorite brand names, including Banana Republic Factory Store, Coach Outlet, Gap Outlet, Forever 21, LOFT Outlet, Levi s Outlet Store, Tommy Hilfiger and Nike Factory Store, Tulare Outlets has proudly served the Fresno/Bakersfield region since its grand opening 1 along with its subsequent 2003 and 200 expansions. The more than 226,000 square foot project is ideally located off Highway and Prosperity Avenue, a welltraveled route in the Central Valley of California between the Fresno and Bakersfield regions. Ownership: Garrison Investment Group management: The Woodmont Company Leasing: FFO Real Estate Advisors Marketing: Strategy+Style Marketing Group TULARE OUTLETS TULARE, CA 2

Opportunity Overview Strategically located in the heart of the Greater Fresno/ Bakersfield marketplace, Tulare Outlets is a 226,413 square foot outlet shopping center. Following the grand opening of Phase one in 1, a second phase was completed in 2003, followed by a third expansion in 200. Currently home to more than 0 leading brand names such as Coach Outlet, Forever 21, Levi s Outlet Store and Nike Factory Store, among many more, Tulare Outlets also features popular Galaxy Theatre which draws substantial entertainment traffic into the center on an annual basis. What s more, the City of Tulare serves as a main route to popular tourist sites, Sequoia National Forest and Yosemite National Park. 3 TULARE OUTLETS TULARE, CA

MODESTO YOSEMITE NATIONAL PARK SAN JOSE 101 SIERRA NATIONAL FOREST 39 39 MONTEREY FRESNO 10 MILES 101 30 MILES SEQUOIA NATIONAL FOREST 60 MILES 39 90 MILES BAKERSFIELD 101 39 SANTA BARBARA LOS ANGELES TULARE OUTLETS TULARE, CA 4

38' 91'-3" Tenant Community E00 AEROPOSTALE 4000 D010 TILLY'S 7468 E010 TOMMY HILFIGER 4920 44' 71'-3" 6'-9" 46'-9" 72'-3" 47'-1" 32' 6'-1" 26'-2" 89'-9" 31'-7" 63'-11" 32'-7" 24'-9" 7' 90' E120 M-FASIS 4200 E110 EDDIE BAUER 600 E090 PETSENSE 4307 E080 AVAILABLE 1890 E070 VOLCOM OUTLET 242 E060 BANANA REPUBLIC 784 E00 TOYS R US 2880 E040 LANE BRYANT 760 E02 AVAILABLE 2272 E030 ZUMIEZ 2880 E020 CALVIN KLEIN 6367 91'-10" TURF 1'-" 34'-7" 24'-9" 69'-4" A010 FOREVER21 7343 TURF 7'-8" 82' 32'-1" A01 BRAVOFARMSREST. 3073 79'-11" 103' 48'-3" A020 WILSONSLEATHER 3160 82' 23'-10" A040 SUBWAY 1242 24'-3" A00 VITAMINWORLD 1200 46'-1" 92' 92' 72' 72' Aéropostale Auntie Anne s Hand-Rolled Soft Pretzels More than 0 outlet stores and entertainment destinations thrive at Tulare Outlets including: Banana Republic Factory Store Baskin Robbins Bath & Body Works Bravo Farms Restaurant & Cheese Shoppe Calvin Klein Carter s Claire s Coach Outlet Daniel s Jewelers TULARE OUTLETS TULARE, CA

D04 JUSTICE 3207 D00 LOFTOUTLET 10168 28'-" 14'-" D040 (PROPOSED) CONVERSE 3121 D030 AVAILABLE 203 D02 ONEILL 300 D020 GYMBOREE 2400 D01 JOURNEYS 24 28'-4" 30'-4" 27' 6'-10" 31'-9" 38'-4" 10" 60'-4" 1'-1" 4'-3" 74'-9" 37' 36'-9" 18'-11" 29'-4" 3'-1" D060 COACH 227 D070 DRESS BARN 7968 D080 BATH & BODY 282 D090 KITCHEN COLLECTION 300 D09 THE PERFUME SHOP 1367 D100 CARTER'S 4133 17'-9" D110 VAN HEUSEN 4000 3'-1" 22'-4" D11 LIDS 1000 20' 1,364 s.f. 22'-6" 27'-2" 4' D120 EXPRESS 7000 60' D12 STYLES 4 LESS 2462 D130 RUE 21 400 16'-7" 1'-6" D140 FAMOUS FOOTWEAR 6000 D-16 D14 LEVIS 4097 8'-9" 49'-6" 23'-7" 2'-1" 23'-10" 30' D1 MUGS & BEANS 1896 D160 ZALES 212 D16 D170 SUNGLASS HUT 1224 ROCKY MTN. CHOCOLATE 1200 TURF 4' D17A CLAIRE'S 1200 17'-" 17'-" 6'-3" D17B AUNTIE ANNE'S 810 D180 RACKROOMSHOES 7222 100' 240'-9" 98' 128'-7" 3'-4" 31'-10" 31'-10" 47'-9" 29'-9" 47'-6" 48' 34'-6" 96' GALAXY THEATER 40000 C080 NIKE 13000 C07 SKECHERS 3000 C070 BASKIN ROBBINS 2100 C060 ECKO 3000 C00 VANS 300 C04 DANIELS JEWELRY 2300 C040 400 C030 OSHKOSH B'GOSH 382 C020 PACIFIC SUNWEAR 4229 C010 GAPOUTLET 10000 329'-10" dressbarn Lane Bryant Outlet Petsense Outlet Toy-R-Us Express Eddie Bauer Outlet Levi s Outlet Store Rack Room Shoes Van Heusen Express Lids Rocky Mountain Chocolate Factory Vans Outlet Famous Footwear Outlet LOFT Outlet rue21 Vitamin World Forever 21 maurices Skechers Volcom Outlet Galaxy Theatre M-Fasis Outlet Styles for Less Wilsons Leather Gap Outlet Nike Factory Store Subway Zales Outlet The Diamond Store Gymboree Outlet O Neill Sunglass Hut Outlet Zumiez Journeys OshKosh B gosh Tilly s And more... Justice PacSun Togo s Kitchen Collection The Perfume Shop Tommy Hilfiger TULARE OUTLETS TULARE, CA 6

Location & Demographics MADERA 39 KINGS CANYON NATIONAL PARK FRESNO 198 198 SEQUOIA NATIONAL PARK 198 39 198 10 MILES 6 30 MILES 6 SEQUOIA NATIONAL FOREST 4 MILES 60 MILES 6 BAKERSFIELD 10 Mile 30 Mile 60 Mile Demographics Population 298,84 730,111 2,988,987 Average HH Income $62,671 $9,892 $62,0 7 TULARE OUTLETS TULARE, CA

ffresno BAKERSFIELDg Tulare Outlets boasts a central and convenient location set directly off of Highway at Prosperity Avenue with highly visible monument signage effectively attracting the nearly three million people residing within 60 miles of the project. The city of Tulare is approximately 4 minutes south of Fresno and 60 miles north of Bakersfield. Average Daily Traffic: Highway : 69,890 vehicles per day Prosperity Avenue: 34,00 vehicles per day TULARE OUTLETS TULARE, CA 8

Tourism Considered the U.S. gateway to both the Sequoia National Forest and Yosemite National Park, Tulare enjoys significant group and independent tour traffic which greatly contributes to Tulare Outlet s long-standing growth and success. 9 TULARE OUTLETS TULARE, CA

Also known regionally as a leading agriculture cradle and home to the annual World Ag Expo, the city of Tulare enjoys significant tourism influx serving as a main artery between the cities of Fresno and Bakersfield. TULARE OUTLETS TULARE, CA 10

Competition CENTER DISTANCE SF # OF STORES OWNED/MANAGED KEY TENANTS OUTLET Outlets at Tejon 100 Miles 320,000 70 The Rockefeller Group Gilroy Premium Outlets 16 Miles 78,000 14 Simon Property Group Polo Ralph Lauren Factory Store, Coach Outlet, Michael Kors, H&M, Nike Factory Store Saks Fifth Avenue OFF TH, Polo Ralph Lauren Factory Store, Michael Kors, Nike Factory Store, Under Armour Visalia Mall 7 Miles 220,000 7 GGP Macy s, JCPenney, Old Navy, Forever 21, Victoria s Secret Fashion Fair Mall 47 Miles 96,000 140 Macerich Macy s, JCPenney, Forever 21, Gap, Victoria s Secret FULL-PRICE The Mall at Sierra Vista Fig Garden Village Shopping Center 47 Miles 400,000 0 Rouse Properties 0 Miles 300,000 60 Donahue Schriber Dillard s, Sears, Best Buy, Famous Footwear, Victoria s Secret Banana Republic, Coach, Chico s, J.Crew, Williams-Sonoma The Shops at River Park 2 Miles 40,000 80 Lance-Kashian & Company Target, Kohl s, Best Buy, buybuy Baby, Ashely Furniture Valley Plaza Mall 67 Miles 1,100,000 140 GGP Macy s, JCPenney, Sears, Target, Forever 21 11 TULARE OUTLETS TULARE, CA

GILROY PREMIUM OUTLETS THE SHOPS AT RIVERPARK FIG GARDEN VILLAGE SHOPPING CENTER 101 FASHION FAIR MALL THE MALL AT SIERRA VISTA VISALIA MALL 101 101 VALLEY PLAZA MALL 101 OUTLETS AT TEJON TULARE OUTLETS TULARE, CA 12

Tulare Outlets Team Garrison Investment Group is an asset based investor with more than 60 years of experience in shopping center acquisitions, development, leasing and asset management. Headquartered in New York City, Garrison owns a total of 40 shopping centers comprising 8.7 million square feet of leasable space in regional malls, lifestyle centers and neighborhood community shopping centers across 1 states. For more information, please visit www.garrisonretail.com. Established in 1980, The Woodmont Company is a full-service commercial real estate company based in Fort Worth, Texas, providing asset management, property management, property marketing, construction management, landlord representation, retailer representation, investment sales and receivership services. The company currently operates a nationwide retail portfolio exceeding 16 million square feet consisting of enclosed regional malls, outlet centers and open-air shopping centers located in 16 states. For more information, please visit the company s website at www.woodmont.com. FFO Real Estate Advisors is a full-service real estate leasing and development advisory firm based in Baltimore, Maryland. The company partners with developers and owners to provide project-based support in all facets of the development process, from site selection and leasing through to project completion and asset management. With more than 6 years of experience among the company s principals, FFO Real Estate Advisors bring together the talents and versatile experience of four former Prime Retail leasing executives with a proven track record of leasing production and project development success. For more information, visit www.fforealty.com. Strategy +Style Marketing Group is a full service marketing and advertising group bringing more than 2 years of domestic and international experience to traditional retailers, fashion houses, outlet centers and shopping center developers. The firm specializes in strategy, advertising, public relations, interactive media and tourism marketing, working with clients to set and achieve business milestones, always focusing on increasing market share in a creative, innovative way. For more information please visit www.strategyplusstyle.com. 13 TULARE OUTLETS TULARE, CA

LEASING INFORMATION PHONE: 410.779.128 LAURENCE OSTER FFO Real Estate Advisors email: loster@fforealty.com JOHN VITULLO FFO Real Estate Advisors email: jvitullo@fforealty.com Tulare Outlets 1407 Retherford Street, Tulare, CA 93274 TulareOutletCenter.com 9-684-9091