Investment Opportunity

Kimco Exchange Place is a subsidiary of Kimco Realty Corporation. For more information, contact: Robert James, Managing Director 280 Park Avenue, 11t...
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Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.

For more information, contact: Robert James, Managing Director 280 Park Avenue, 11th Floor, New York, NY 10017 [email protected] Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com

Investment Opportunity New IHOP Ground Lease Shoppes At Midway Plantation Anchored by Target, Home Depot & Ross Dress For Less, Bed Bath & Beyond, Office Max, Michaels and PetCo 1000 Shoppes at Midway Dr., Raleigh, NC 27604 Property Property Summary: Summary: This This ground ground leased leased fee fee interest interest consists consists of of 1.62 1.62 acres acres on on which which the the tenant tenant constructed constructed aa 5,101 5,101 sf sf building. building. This This property property isis aa pad pad site site to to the the newly newly developed developed Shoppes Shoppes At At Midway Midway Plantation, Plantation, aa 464,000 464,000 sf sf shopping shopping center center anchored anchored by by Home Home Depot, Depot, Target, Bed Bath & Beyond, Office Max, Michaels, PetCo and Ross Dress For Less with 2,392 parking spaces. The Target, Bed Bath & Beyond, Office Max, Michaels, PetCo and Ross Dress For Less with 2,392 parking spaces. The center center isis located located on on Knightdale Knightdale Boulevard Boulevard (traffic (traffic counts counts of of approximately approximately 56,000 56,000 vpd) vpd) near near Interstate Interstate 540. 540. Other Other tenants tenants located located in in the the center center include include Lane Lane Bryant, Bryant, Rack Rack Room Room Shoes, Shoes, Kirkland’s Kirkland’s Home, Home, Hallmark, Hallmark, GNC, GNC, Payless Payless Shoes Shoes and and Subway Subway among among others. others. A A 50,000 50,000 sf sf Lowes Lowes Food, Food, Discount Discount Tire, Tire, Zaxby’s Zaxby’s and and Bank Bank of of America America are are located located across across the the street street in in aa 140,000 140,000 sf sf center. 600 residential units are being developed in the immediate vicinity. The subject property is positioned between I-540 center. 600 residential units are being developed in the immediate vicinity. The subject property is positioned between I-540 and and aa proposed proposed Wal-Mart Wal-Mart SuperCenter SuperCenter located located immediately immediately to to the the west. west. Adjacent Adjacent to to Shoppes Shoppes of of midway midway Plantation Plantation to to the the east, east, aa new new center center containing containing Kohl’s, Kohl’s, Best Best Buy, Buy, Dick’s Dick’s Sporting Sporting Goods Goods & & TJ TJ Maxx Maxx isis being being developed. developed. Population Population has has increased increased 8.4% 8.4% annually annually between between 1990 1990 and and 2007 2007 and and isis expected expected to to grow grow 2.3% 2.3% annually annually from from 2007 2007 to to 2012 2012 within within aa 33 mile mile radius. radius. Price Price and and Cap: Cap: We offer We offer this this property property at at $1,693,548 $1,693,548 which which isis aa 6.20% 6.20% cap cap rate rate on on NOI NOI of of $105,000 $105,000 ($20.58 ($20.58 psf). psf). In In addition addition to to the the IHOP; IHOP; Chili’s, Chili’s, Lone Lone Star Star Steakhouse, Steakhouse, Chick-Fil-A, Chick-Fil-A, Wachovia Wachovia and and Arby’s Arby’s ground ground leases leases are are for for sale sale at at this this center. center. Individual Individual marketing marketing packages packages can can be be found found at at www.kimco1031.com www.kimco1031.com Tenant: Tenant: Wakefield Wakefield Knightdale Knightdale LLP; LLP; Richard Richard S. S. Smith Smith as as Guarantor Guarantor IHOP IHOP Corp. Corp. and and its its subsidiaries subsidiaries develop, develop, franchise, franchise, and and operate operate International International House House of of Pancakes Pancakes (IHOP) (IHOP) restaurants restaurants in in the the United States and Canada. Its family restaurants feature table service, and food and beverage items. As of December 31, United States and Canada. Its family restaurants feature table service, and food and beverage items. As of December 31, 2006, 2006, there there were were 1,302 1,302 IHOP IHOP restaurants restaurants located located in in 49 49 states states and and Canada, Canada, of of which which the the company company operated operated 10 10 restaurants, restaurants, franchisees franchisees operated operated 1,132 1,132 restaurants, restaurants, and and licensees licensees operated operated 160 160 restaurants. restaurants. IHOP IHOP Corp. Corp. was was founded founded in in 1976 1976 and and isis based in Glendale, California. based in Glendale, California. Lease Lease Summary: Summary: Term: Term: Rent: Rent: Escalations: Escalations: Rent Rent Commencement: Commencement: Expiration Expiration Date: Date: Options: Options:

20 20 years years and and 66 months months $105,000 ($20.58 $105,000 ($20.58 psf) psf) 10% 10% every every 55 years years 9/6/2007 9/6/2007 9/30/2027 9/30/2027 44 (5) (5) year year options options with with 10% 10% escalations escalations every every 55 years years

Lease Lease Type: Type: This This isis an an absolute absolute triple triple net net ground ground lease. lease. The The tenant tenant constructed constructed and and paid paid for for the the building. building. Upon Upon lease lease expiration, expiration, ownership ownership of of the the building building reverts reverts to to the the owner owner of of the the land. land. Landlord Landlord has has absolutely absolutely no no maintenance, maintenance, repair repair or or replacement replacement responsibility responsibility for for the the building building or or land, land, such such responsibility responsibility being being solely solely that that of of the the tenant. tenant. Tenant Tenant pays pays an an annual annual charge charge of of $2,500 directly to the owner of the shopping center for common element maintenance (roadways). Tenant also pays a $2,500 directly to the owner of the shopping center for common element maintenance (roadways). Tenant also pays a monthly monthly charge charge of of $671.67 $671.67 directly directly to to the the landlord landlord for for real real estate estate tax tax reimbursement reimbursement and and isis responsible responsible for for any any increase increase in in real real estate estate tax tax with with year year end end reconciliation. reconciliation. This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

For more information, contact: Robert James, Managing Director 280 Park Avenue, 11th Floor, New York, NY 10017 [email protected] Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com

Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.

Investment Opportunity Traffic Counts I-540

New Shopping Center Anchored By: Kohls, Best Buy, Dick’s, Sporting Goods, TJMaxx

Duke Healthcare

Rex Healthcare

Proposed Wal-Mart Supercenter New Residential

This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.

For more information, contact: Robert James, Managing Director 280 Park Avenue, 11th Floor, New York, NY 10017 [email protected] Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com

Investment Opportunity

Also for Sale Tenant DBA Name Lone Star Steakhouse & Lone Star Saloon Steakhouse Brinker International, Inc Chili's Wakefield Knightdale IHOP LLP; Richard S. Smith as Guarantor Chick-Fil-A Inc Chick-Fil-A Wachovia Corporation Wachovia Bank Triarc Companies, Inc Arby's

GLA 7,000

Term Escalations 10 Yr, 7 Mo 10% per 5 yrs

Lease Rent Rent Ann.CAM Ann.Tax Asking Options End Date per SF per Year Escrow Escrow ROFR Cap 4 - 5 Yrs 1/31/2017 $16.43 $115,000 $2,500 $7,700 Yes 6.20%

Asking Price 1,854,839

5,860 5,101

11 Yr, 3 Mo 10% per 5 yrs 20 Yr, 6 Mo 10% per 5 yrs

4 - 5 Yrs 11/30/2016 $17.06 $100,000 4 - 5 Yrs 9/30/2027 $20.58 $105,000

$2,500 $0

4,227 4,050 3,500

10 Yr, 5 Mo 10% per 5 yrs 5 - 5 Yrs 11/30/2016 $16.56 $70,000 15 Yr, 6 Mo 10% per 5 yrs 3 - 5 Yrs 10/31/2021 $25.93 $105,000 20 Yr, 1 Mo 10%, 9.09%, 4 - 5 Yrs 12/31/2026 $20.00 $70,000 8.33% per 5 yrs

$2,500 $2,500 $2,500

29,738

$565,000

$0 $8,060

No

6.00% 6.20%

1,666,667 1,693,548

$0 Yes $0 No $0 No

6.00% 5.25% 5.85%

1,166,667 2,000,000 1,196,581

$12,500 $15,760

This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

5.90% 9,578,302

Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.

For more information, contact: Robert James, Managing Director 280 Park Avenue, 11th Floor, New York, NY 10017 [email protected] Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com

Investment Opportunity New Shopping Center Anchored By: Kohls, Best Buy, Dick’s, Sporting Goods, TJMaxx

Rex Healthcare

107,000 sf Shopping Center Anchored By: Lowes Foods (50,000 sf), Dollar Tree, Blockbuster, Bank Of America, Zaxby’s

Proposed Wal-Mart Supercenter

This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.

For more information, contact: Robert James, Managing Director 280 Park Avenue, 11th Floor, New York, NY 10017 [email protected] Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com

Investment Opportunity Photos Of The Shopping Center

This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.

For more information, contact: Robert James, Managing Director 280 Park Avenue, 11th Floor, New York, NY 10017 [email protected] Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com

Investment Opportunity Photos Of The Shopping Center

This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

EXISTING

OUTPARCEL 3 APPLEBEE'S 1.48 ACRES 5,775 SF

ACC

ACC

ACC

EXISTING

ACC ACC

SHOPS K

ACC

OUTPARCEL 6 1.28 ACRES CHICK-FIL-A 4,227 SF

ACC

MOE'S SOUTHWEST GRILL 2,434sf CHIROPRACTOR 2,000sf GNC 1,400sf NICOLE'S SWIMWEAR 1,750sf ATHLETE'S FOOT 1,750sf HAIR CUTTERY 1,400sf I LOVE NY PIZZA 2,500sf

OUTPARCEL 5 1.53 ACRES IHOP 5,101 SF

LOT 10 . 10.95 AC

ACC

OUTPARCEL 4 WACHOVIA 1.49 ACRES 4,050 SF

MONUMENT SIGN #2

ACC

ACC

OUTPARCEL 2 CHILI'S 1.54 ACRES 5,860 SF

ACC

SHOPS L

ACC

LOT 9 17.57 AC.

U. S. HIGHWAY 64

ACC

ACC

MONUMENT SIGN #1

ACC

RETAIL I 15,017 SF



ACC

LONESTAR STEAKHOUSE

ACC

RETAIL H 20,005 SF

`

ACC

OUTPARCEL 1 2.04 ACRES

ACC

ACC

ACC

ACC

ACC

ACC

ACC

ACC

ACC

RETAIL G 30,144 SF ACC

ACC

ACC

RETAIL F 22,941 SF

 ACC ACC

ACC

ACC

RETAIL E 21,545 SF

U

ACC

ACC

ACC

RETAIL C

RETAIL D

RADIO SHACK 2,800sf JAPAN EXPRESS 1,400sf AVAIL. 1,400sf RITA'S WATER ICE 1,400sf ISLAND NAILS 1,400sf FIVE GUYS BURGERS 2,600sf SUBWAY 1,535sf

ACC

LOT 8 10.37 AC.

124,163 SF

R

VAN

MATTRESS WAREHOUSE 4,000sf HALLMARK 4,010 sf PAYLESS SHOES 3,000sf

LANE BRYANT 6,270sf KIRKLANDS 6,264sf RACK ROOM SHOES 6,265sf

ACC

WIDEWATER PARKWAY

24,000 SF

SF

GARDEN CENTER

108,847

%

OUTPARCEL 7A 1.09 ACRES ARBY'S 3,500 SF

MONUMENT SIGN #3

10/4/07 SP-14

NG

Developer's Parcel

OUTPARCEL 7B 1.00 ACRES IT'S A GRIND 1,750 SF AVAIL. 2,352 SF SUNCOM 2,200SF

RIVE HIGH D

RKWAY

OUTPARCEL 5 1.53 ACRES IHOP 5,101 SF

Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.

For more information, contact: Robert James, Managing Director 280 Park Avenue, 11th Floor, New York, NY 10017 [email protected] Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com

Investment Opportunity

ACC ACC

ACC

This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.

For more information, contact: Robert James, Managing Director 280 Park Avenue, 11th Floor, New York, NY 10017 [email protected] Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com

Investment Opportunity 30 Minute Drive Time

This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.

For more information, contact: Robert James, Managing Director 280 Park Avenue, 11th Floor, New York, NY 10017 [email protected] Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com

Investment Opportunity

This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.

For more information, contact: Robert James, Managing Director 280 Park Avenue, 11th Floor, New York, NY 10017 [email protected] Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com

Investment Opportunity DEM OGRAPHIC PROFILE 2000 Census, 2007 Estimates & 2012 Projections Calculated using Proportional Block Groups

Oct-07 Lat/Lon: 35.8/-78.51

POPULATION

73,019 83,315 56,971 32,669 7.3% 2.8%

153,931 172,249 124,171 88,482 4.4% 2.4%

HOUSEHOLDS

2007 Es t. Hous eholds 2012 Es t. Hous eholds 2000 Cens us Hous eholds 1990 Cens us Hous eholds His torical Annual Growth 1990 to 2007 Projected Annual Growth 2007 to 2012

8,064 8,954 6,661 3,506 7.6% 2.2%

27,067 30,736 21,432 12,839 6.5% 2.7%

57,583 64,140 47,091 34,598 3.9% 2.3%

2007 2007 2007 2007 2007 2007 2007 2007

16.8% 13.5% 5.2% 35.0% 18.7% 8.4% 2.4% 32.7

16.6% 13.3% 5.9% 35.2% 18.3% 8.2% 2.5% 32.5

15.7% 13.4% 6.7% 33.4% 18.7% 8.9% 3.1% 32.9

49.7% 50.3% 16,665 23.3% 60.0% 16.8% 43.0% 2.7

49.5% 50.5% 55,622 25.7% 55.5% 18.8% 41.4% 2.7

49.1% 50.9% 119,123 29.7% 48.8% 21.5% 38.8% 2.6

2.6% 5.3% 16.9% 20.4% 22.9% 14.1% 7.9% 5.4% 4.5% $66,309 $69,501 $24,557

1.9% 4.0% 14.6% 18.8% 24.0% 14.7% 10.3% 6.1% 5.6% $60,980 $63,861 $22,841

1.8% 3.4% 12.4% 15.8% 23.2% 15.6% 11.0% 8.2% 8.7% $56,641 $57,592 $21,613

523 4,790

2,163 25,983

6,397 81,937

21,993 64.5% 24.7% 0.2% 3.1% 7.6%

73,019 56.6% 30.5% 0.2% 4.1% 8.5%

153,931 51.5% 36.3% 0.2% 3.6% 8.4%

INCOME

& SEX

21,993 24,525 17,914 9,088 8.4% 2.3%

MARITAL STATUS

2007 Es tim ated Population 2012 Projected Population 2000 Cens us Population 1990 Cens us Population His torical Annual Growth 1990 to 2007 Projected Annual Growth 2007 to 2012

AGE

3.00 mi radius 5.00 mi radius 7.00 mi radius

Population 0 to 9 Years Population 10 to 19 Years Population 20 to 24 Years Population 25 to 44 Years Population 45 to 59 Years Population 60 to 74 Years Population 75 Years Plus Es t. Median Age

2007 Male Population 2007 Fem ale Population Married Bas e (15yrs +) Never Married Now Married Separated, Divorced or Widowed Hous eholds with Kids Average Hous ehold Size 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007

Es t. HH Incom e $200,000 or More Es t. HH Incom e $150,000 to 199,999 Es t. HH Incom e $100,000 to 149,999 Es t. HH Incom e $75,000 to 99,999 Es t. HH Incom e $50,000 to 74,999 Es t. HH Incom e $35,000 to 49,999 Es t. HH Incom e $25,000 to 34,999 Es t. HH Incom e $15,000 to 24,999 Es t. HH Incom e $0 to 14,999 Es t. Average Hous ehold Incom e Es t. Median Hous ehold Incom e Es t. Per Capita Incom e

RACE

Num ber of Bus ines s es Total Num ber of Em ployees 2007 2007 2007 2007 2007 2007

Es tim ated Population Es t. White Population Es t. Black or African Am erican Es t. Am erican Indian & Alas ka Native Es t. As ian & Pacific Is lander Es t. Two or m ore and Other Races

This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

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