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Upstate Exchange

Spartanburg, South Carolina

For leasing information call: Terry Koza (205)972-9694 [email protected] Or Jeff Rouzie Office-205-972-6905 Cell-205-253-5339 [email protected]

Upstate Exchange,Charlotte, North Carolina Spartanburg, SC

Proposed Center Located along I85 (65,000 vpd) at HWY 9 (27,000 vpd) in Spartanburg, SC, the Upstate Exchange will be a 500,000 s.f. Power Center serving all of Spartanburg County and the entire South Carolina Upstate Region. The project's strategic central location offers not only Spartanburg County residents, but also residents from neighboring Cherokee County (population of 55,000+), and nearby Southwestern NC, a regional shopping and entertainment destination that can be conveniently accessed via I85. With a Trade Area of over 200,000 people, Upstate Exchange will provide the rapidly growing region with a "one-stop" shopping experience enhanced by restaurant and entertainment options that have long been desired. Local Economy With over 80 international firms representing 18 countries, including BMW, Milliken, Kohler, and Invista, Spartanburg County boasts the highest per capita international investment in the nation. The local economy continues to grow with recent investments by Adidas and Echostar that will bring over 3,000 new jobs to Spartanburg County. Spartanburg County is currently the 4th largest county in the state of South Carolina which is ranked among the Top 10 fastest growing states in the country. The quality of life, affordable cost of living, continuing expansion of business and the convenience to Charlotte, Atlanta, and the amenities of the North Carolina Mountains will continue to make Spartanburg County a desirable place to live and work.

Upstate Exchange Location- I85 & Hwy 9, Spartanburg, SC

Spartanburg, SC

Upstate Exchange

Spartanburg, SC

Upstate Exchange

Spartanburg, SC

Upstate Exchange

Spartanburg, SC

Spartanburg County Retail Overview

Upstate Exchange

Spartanburg, SC

Regional Trade Area Overview

Strategically located along the I85 corridor, 150 miles north of Atlanta, GA and 100 miles south of Charlotte, NC, the region boasts a population of approximately 1 Million and has led the state and nation in per capita investment and job growth. With currently only one major (non-outlet center) retail project located along I85 between Atlanta and Charlotte, the opportunity to serve a wide and rapidly growing regional trade area consisting on northern Greenville County, Spartanburg County, Cherokee County and the nearby counties of Southwest NC is tremendous.

Upstate Exchange Location

Spartanburg, SC Primary Regional Trade Area

· Highway I85 & Hwy 9, Spartanburg, SC

Upstate Exchange

Spartanburg, SC Primary Regional Trade Area Demographics

Upstate Exchange Location

Spartanburg, SC Secondary Regional Trade Area

· Highway I85 & Hwy 9, Spartanburg, SC

Upstate Exchange

Spartanburg, SC Secondary Regional Trade Area Demographics

Upstate Exchange

Spartanburg, SC

Primary Local Trade Area Statistics

Since 2000, the northern bedroom communities of Boiling Springs, Inman, and Chesnee have been the fastest growing area of Spartanburg County. This rapid growth has led to the development of over 11,000 new homes over the past seven years and an increase in the school district's student population of over 250 new students per year over the last decade. These desirable northern bedroom communities of Spartanburg County, with home values ranging from the low $200's to over $1 Million, provide a Primary Local Trade Area that consists of over 80,000 people with an average household income of over $52,000. With current drive times of approximately 15 to 30 minutes between this Primary Local Trade Area and the majority of Spartanburg County's existing retail base. "The fastest-growing areas in Spartanburg County were Boiling Springs and the western part of the county between Highway 290 and Greer, communities that also showed strong population increases between 1990 and 2000, said Joan Holliday, interim director of the county Planning and Development Department. Growth in the Boiling Springs community, she said, is stressing the current infrastructure, including roads surrounding Highway 9. `Some of them are pulling their hair out at all the crazy growth that's going on there,' she said. Sherry Dull, Spartanburg County planning and development subdivision supervisor, said the county approved seven residential projects, with a total of 338 dwelling units, in 2007 in the Boiling Springs community. But the Inman area, which has seen more residential than commercial growth, saw a whopping 93 units approved last year, she noted. The areas covered by county School District 3, including Cowpens and Pacolet, are seeing the least growth." -www.GoUpstate.com; March 20, 2008

Upstate Exchange

Spartanburg, SC

Primary Local Trade Area

Upstate Exchange Primary Local Trade Area Demographics

Spartanburg, SC

Upstate Exchange Spartanburg, SC Primary Local Trade Area Residential Overview Map

Upstate Exchange

1. Clemente Pointe 96 homes $350,000-$750,000 2. Turtle Creek Cottages 63 homes $330,000-$460,000 3. Stonehedge 53 homes $190,000-$240,000 4. Cobblestone 100 homes $220,000-$410,000 5. Woodfin Ridge 152 homes $300,000-$920,000 6. Shaftsbury 123 homes $180,000-$240,000 7. Cobbs Creek 172 homes $190,000-$270,000 8. Harvest Ridge 48 homes $185,000-$250,000 9. The Vineyards at Stonecreek Falls 250 homes $300,000-$500,000 10. Roland's Crossing 101 homes $190,000-$230,000 11. Mason's Crossing 59 homes $170,000-$220,000 12. Candlewood 303 homes $150,000-$190,000 13. Sterling Estates 165 homes $195,000-$320,000 14. Eagle Pointe 59 homes $150,000-$180,000 15. Greene Creek 137 homes $140,000-190,000 16. Wynbrook 168 homes $140,000-$170,000 17. Heritage Creek 63 homes $162,000-$260,000 18. Shoally Brook 302 homes $125,000-$150,000 19. Stonewood Crossing 45 homes $135,000-$200,000 20. Glenn Lake 442 homes $160,000-$380,000 21. Canyon Creek 83 homes $385,000-$400,000 22. Belmont 167 homes $160,000-$190,000 23. Evanwood II 93 homes $120,000-$175,000 24. Hanging Rock 297 homes $175,000-$250,000 25. Sugar Ridge Commons 112 homes $160,000-$255,000 26. Steadman Farms 19 homes $120,000-$140,000 27. Kennedy Commons 33 homes $120,000-$170,000

Spartanburg, SC

38. Creekside Meadows 38 homes $150,000-$235,000 39. Bent River 70 homes $140,000-$200,000 40. Clark Estates 120 Homes $200,000-$350,000 41.Lakewinds 300 Homes $500,000-$900,000 42. Breckenridge 145 Homes $175,000-$225,000 43. Windermere 200 Homes $200,000-$350,000 44. Summerwinds 28 Homes $250,000-$400,000 45. Fagan Creek 25 Homes $225,000-$300,000 46. Mason's Cove 12 Homes $300,000-$500,000 47. Watercrest 20 Homes $500,000-$900,000 48. Wilkins Point 43 Homes $500,000-$900,000

Corresponding Residential Subdivision Data

28. Lake Emory 32 homes $245,000-$470,000 29. Turtle Creek 47 homes $330,000-$420,000 30. The Preserve 33 homes $250,000-$370,000 31.Crooked Creek 50 homes $320,000-$470,000 32. The Cottages at Casey Creek 69 homes $250,000-$320,000 33. Conecrest 37 homes $200,000-$240,000 34. Saddlers Walk 98 homes $175,000-$220,000 35. North Harbor 28 homes $350,000-$450,000 36. Glenn Harbor 111 homes $450,000-$620,000 37. Rolling Rivers 34 homes $290,000-$340,000

About AIG Baker

Charlotte, North Carolina

AIG Baker Shopping Center Properties, LLC is a privately held entrepreneurial-driven company, headquartered in Birmingham, Alabama, that specializes in ground-up development, acquisition, leasing and management of retail centers nationwide. Backed by American International Group (AIG), one of the world's largest insurance companies, AIG Baker has developed more than 20 million square feet in 17 states since 1993. Subsidiaries of AIG Baker include AIG Baker Real Estate, L.L.C., AIG Baker Management, L.L.C., AIG Baker Development, L.L.C., and Pinnacle Communities L.L.C. Projects which are under development or currently owned by AIG Baker include the following: The Commons Settler's Market at New Town The CrossRoads Lake Valley Fallschase Sparks Crossing Central Texas Marketplace The Center at Madison The Village at Bay Park Deptford Landing The Greens at Millerville The Village at Lee Branch Patton Creek Vestavia Hills City Center The Wharf High Point Town Center Martinsburg, West Virginia Williamsburg, Virginia Richmond, Virginia Fayetteville, North Carolina Tallahassee, Florida Reno, Nevada Waco, Texas Madison, Mississippi Green Bay, Wisconsin Deptford, New Jersey Baton Rouge, Louisiana Birmingham, Alabama Birmingham, Alabama Birmingham, Alabama Orange Beach, Alabama Prattville, Alabama

To learn more about AIG Baker Shopping Centers LLC, please visit our website at www.aigbaker.com

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