RETAIL MARKET REVIEW 15.00% 13.11% 12.83% 13.00% 11.64% 11.19% - - PDF document

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RETAIL MARKET REVIEW

Presented by: Chris Rouzie Thalhimer Retail Brokerage Group

February 28, 2007 13.11% 12.83% 11.64% 11.19% 9.41% 7.55% 6.81%

5.00% 7.00% 9.00% 11.00% 13.00% 15.00% 2001 2002 2003 2004 2005 2006 2007 Hampton Roads – Retail Vacancy

1,130,3291,031,550 1,250,400 749,458 456,610 1,211,699 2,594,843

500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 2001 2002 2003 2004 2005 2006 2007 Hampton Roads – New Construction Square Feet

New Projects

Williamsburg - 2005 Williamsburg Marketcenter

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Williamsburg Marketcenter

New Town New Town & Settler’s Market

New Town & Settler’s Market

Settler’s Market New Town Marquis Development

Marquis

City Center

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City Center

Mercury Plaza Peninsula Town Center NetCenter

Mercury Plaza Peninsula Town Center

Edinburgh

Edinburgh

Proposed

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Landstown Commons

Landstown Commons

Harbour View East

Harbour View East

Grocery Sector

Hampton Roads – Number of Stores in Region

89 40 28 13 9 8 6 6 4 2

20 40 60 80 100

Food Lion Farm Fresh Supermarket Independent Wal Mart Supercenter Kroger Harris Teeter Fresh Pride DECA Commissary Super Kmart Ukrops

Source: Trade Dimensions 2006 CBSA

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28% 25% 22% 4% 1% 5% 4% 8% 2% 1% Wal Mart Food Lion Farm Fresh Supermarket Independent Fresh Pride Market Harris Teeter Kroger DECA Commissary Super Kmart Ukrops

Hampton Roads – Grocery Group Market Share

Source: Trade Dimensions 2006 CBSA

Food Lion – Bloom Store Food Lion – Bottom Dollar Store Farm Fresh

Haygood Shopping Center

• Mt. Pleasant Marketplace

Bennett’s Creek The Market @ Harbor Heights Orchard Square

Harris Teeter

Ferrell Parkway Hanbury Village

Expanding Footprint

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RETAIL MARKET REVIEW

Presented by: Chris Rouzie Thalhimer Retail Brokerage Group

February 28, 2007