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Mirasol

Southport—Saint James

Hwy 211 / Southport Supply Road

Mulitfamily Development Site

Nicholas Silivanch

Eastern Carolina Commercial Real Estate

432 Landmark Drive, Unit 4

Wilmington NC 28412

(910) 399 4602— O

(910) 515 7969—M

[email protected]

PREPARED BY:

Comprehensive Property Information Package

For Purchasers and Tenants

Containing

Demographics, Retail Trade Area Maps, Local Maps,

Drive Time analysis, Site Layouts and Pricing

CBCWorldwide.com

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Property Information Package

Eastern Carolinas Commercial Real Estate - www.eccrenc.com

432 Landmark Drive, Unit 4 Wilmington, NC, 28412

Nicholas Silivanch, Partner and EVP

(910) 399 4602 Office —(910) 515 7969 Cell—[email protected]

THE PROPERTY

MIRASOL APARTMENT’S :

MULTIFAMILY TRACT IS PART OF LARGER MIXED USE / PD

DEVELOPMENT SITE.

WILL BE THE FIRST COMMERCIAL CENTER LOCATION BETWEEN THE

TWO MAIN ENTRACES FROM THE ST. JAME PLANTATION

Site is denoted by the Star.

USE: Multifamily 13.8 Acres Est. 250 units

BREIF MARKET INFORMATION

The Southport / Oak Island and Saint James area of Brunswick County has been one of the most steadily

developing areas over the last several years including the recent recessionary period. The area has recently

seen some major development announcements outside of Mirasol with the Charles a senior community just

up the road, a new shopping center anchored by Lowes Food under development at the corner of 211 and

Midway, Apple Inc.’s new conservation area which is over 1600 acres and is located just east of Bolivia The

current retail hub is at the corner of highways 211 and 133, however that area is mostly built out making

new development in the area a tougher option, and not the preferred location for St. James Plantation.

Mirasol is one of the first lifestyle centers planned for Brunswick County and the only center of its kind in the

Southport—Oak Island—St. James area. The property is over 130 acres of an approved PD mixed use. With a

Commercial Hub featuring the key components of Live—Work—Play and with inclusive community feature’s

planned such as a music venue, two grasses courtyards with kiosks and fountains, and some open space

making it a draw for the area. Pricing varies per property. Property/sites will be delivered ready for

construction with grading complete and utilities at the property line. Engineering is complete.

Executive Summary on Mirasol

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Subject Property Is outlined in Blue

Mirasol is located adjacent to the 1,300 acre The Charles Senior Living Complex, and is located 1.8 Miles from the intersection

of 211 and Midway Road (heading South) heading North it is located 3 miles from the intersection of 211 and 133. Just minutes

outside of downtown Southport and across from St. James Plantation a 6,000 acre development, Mirasol will incorporate

Live—Work—Play unlike any lifestyle center currently in the Southeastern Brunswick County Region.

The area has won various awards on lifestyle, Community growth, and master planned community awards.

The are a is underserved for retailers, please see the Retail Trade Gap chart for specific areas.

Please see the demographics for the population and income levels

Subject Property

Property Aerial Location Map

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Multifamily Locations In Brunswick County

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As you can see the most heavily built markets are in Leland (suburb of Wilmington) and Shallotte NC. Southport is ready for

more Multifamily as the apartments there are currently at 100% occupancy per research conducted 6/15/15. There is currently

no availability for workers near Southport leaving a transient workforce from Wilmington/Leland or from Shallotte to work at

the employment centers in the area.

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Mirasol Planned Development Incorporates

The Master Site Plan Calls for the following items as part of its conceptual site plan

250,000 +/- sf of Tenant Retail with a Grocery and Large / Junior Box anchors.

The Outparcels range in size from the smallest of 1.3 acres to the largest of 2 acres.

The Multifamily component features 13.8 gross buildable acres approved for of 240

units spread over 9 buildings.

133 Residential Home Lots in Phase 1 of three phases of residential build out.

Sitting across from Saint James, Mirasol is located in a strategic location for tourists and

locals to live, shop, work and dine within minutes of their home in South Eastern New Han-

over County.

Conceptual Site Plan

Multi family

Mirasol west

Outparcels Outparcels

Mirasol East

133 Phase I Residential Lots

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Multifamily Village At Mirasol

Multifamily at Mirasol

The Multifamily Component at Mirasol is conceptually shown above has 250 units over

9 buildings. The Developer, Malcolm Jones, plans to deliver the site with utilities

stubbed to accommodate the developments final unit count, side graded for a full build

out of density. Storm water will be handled in off site master ponds for the entire devel-

opment, and used as a buffer between the residential/multifamily and the retail com-

ponents of the property.

Acreage: 13.8 +/- Buildable

Pricing: $2,250,000.00

Per Door Price of: $9,000.00 per door for a estimated 250 +/- Units.

Acreage Price of: $163,043.47 per acre

250 +/- Units within 9 buildings - Conceptual Site Plan

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Market Information

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EGRET CROSSING APARTMENTS—Are the only local competition in Southport

Competition Map - SITE IN BLUE STAR—COMPETITION IN RED

Unit Type Units SF Total SF Monthly

Rental

Per SF

1/BR—1/ BA 12 450 5,400 $ 530 $1.18

1/BR—1BA 16 500 8,000 $ 615 $1.23

1/BR –1/BA 56 660 36,960 $ 690 $1.03

2/BR –2/BA 24 900 21,600 $ 760 $0.84

TOTAL/

AVERAGE

108 666 71,960 $ 670 $1.01

LOCATED AT 4850 TOBAGO DRIVE, SE, SOUTHPORT NC 28461—ONLY DIRECT COMPETI-

TION IN THE MARKETPALCE CURRENTLY.

4.04 MILES AWAY

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Market Information—Southport

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Apartment Market Place Around

Mirasol—Southport—Saint James and Oak Island

Points of Interest—Southport

Southport's stable and growing economy is filled

with an array of boutiques, cafes, antique shops, art galleries, parks, restaurants, professional offices, varied service provid-

ers, physician offices, motels, bed and breakfast inns, churches, art galleries, museums, meeting facilities, and Dosher

Memorial l Hospital. Tourism and retirement communities are the main driver’s of the economy at this time.

SITE

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Market Information—Bald Head Island

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Small Town

Its part of the attraction.

backdrop for quite a

number of movies over the years, including I Know What You Did Last Summer, Crimes of the Heart, Summer Catch, Domestic Disturbance,

Mary and Martha, Nights in Rodanthe, A Walk to Remember and Safe Haven. is also the setting of several acclaimed novels, including "Safe

Haven" by Nicholas Sparks, and the filming locale for the television series Revenge and Under the Dome.

Points of Interest—Bald Head Island

Bald Head Island

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Market Information—Oak Island

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Points of Interest—Oak Island

Oak Island

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Market Information—Saint James

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Points of Interest— Saint James

St James is a new town, incorporated in 1999, along the southeast coast of North Carolina – just a few miles from the old fishing village of Southport, NC and about 30 miles south of Wilmington, NC. St James is in Brunswick County, NC, which is characterized by growing communities nestled in some of the most unique wetlands areas of the United States. St James is a residential town, with a large population of vibrantly active retirees who enjoy our four and a half golf courses, many tennis courts, swimming pools, full service marina and beach club along the Oak Island sea shore. However, we are also home to many young families and enjoy the sight of yellow school buses throughout the community. Residents – currently about 3,600 from all over the United States - are talented and active volunteers – from our all volunteer Fire and EMS Department, to our award winning Service Club, and to all manner of community service opportunities throughout the Brunswick County area. Mirasol is located in and around all of these wonderful communities with easy access to the recreation, the shopping, the development and the entertainment available. Making the limited competition and market de-sirability for retirees the perfect combination for the development of Mirasols Apartment Community.

Saint James is Outlined

(Across from Subject Property )

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Market Information - Brunswick County

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Where is Brunswick County and where is the growth and development—

Brunswick County is bounded to the north by the Cape Fear River, to the east by New Hanover County, to the south by the Atlantic Ocean, and shares

its western boundary with N o r t h M y r t l e B e a c h , South Carolina. Long Beach/Oak Island is the largest city in Brunswick County and Bolivia is the

county seat. Wilmington is located in New Hanover County to the east and is a major shopping and tourism center for the area. Raleigh, the state

capital, is located approximately 150 miles to the northwest and Charlotte is 200 miles to the northwest.

Carolina:

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Market Information

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The area's main economic base is in retail trade and services. Approximately 27% of the labor force is employed in ser-

vices, 17% in retail trade and 26% in trade, transportation and utilities. This is due to the location of the county on the At-

lantic Ocean with tourism being a large driver of the local economies. Brunswick County's top employers as of June 2015

according to Brunswick County Development are as follows:

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Projected

Total Population 2018 2013 2010

Within 1-3 Miles 8,740 7,951 7,422

Within 2-5 Miles 16,200 14,808 13,982

Within 3-10 Miles 34,441 31,836 30,394

Population Over 50 2018 2013 2010

Within 1-3 Miles 4,879 4,267 3,893

Within 2-5 Miles 10,460 9,261 8,513

Within 3-10 Miles 19,463 17,371 16,010

Average Household Income 2018 2013__

Within 1-3 Miles $67,734 $59,246

Within 2-5 Miles $76,886 $67,609

Within 3-10 Miles $74,014 $65,253

Average Household Income Over 50 2018 2013___

Within 1-3 Miles $65,205 $57,748

Within 2-5 Miles $77,508 $68,594

Within 3-10 Miles $73,142 $65,146

Population Households Median Household Income Owner Occupied Housing Units

2013-2018 Annual Growth Rate

1.68 1.86

3.97

2.06

Demographics Radius 3—5—10

With the current lack of multifamily apart-

ments for retirees to relocate to while they

wait for their home to be built, the South-

port MF marketplace is missing out on po-

tential tenants who are locating in Wilming-

ton. Additionally the overall lack of multi-

family is a barrier to entry for employers

looking to grow as their employees have to

live in Wilmington and commute.

Demographic growth is strong and growing

over the next 3 year period.

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Demographics Radius Map 3—5—10

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2013 Population by Age 3 Mile Radius



9.9%

12.6%

20.2%

9.3% 3.5%

13.5%

4.2%

26.9%

11.4% 8.3% 7.2%

3.0%

10.7%

3.2%

32.0%

24.2%

10.1%

13.1%

21.3% 26.1%

4.0%

12.8% 3.8%

8.8%

Demographics Radius 3—5—10

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Demographics Drive Time Map 5 –15—30

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Projected

Total Population 2018 2013 2010

Within 5 Minute Drive Time 4,330 3,950 3,719



Population Over 50 2018 2013 2010




Average Household Income 2018 2013__

Within 5 Minute Drive Time $50,049 $41,482



Average Household Income Over 50 2018 2013___




2013-2018 Annual Growth Rate

1.85 2.05

3.83

2.27

Population Households Median Household Income Owner Occupied Housing Units

Demographics Drive Time 5 –15—30

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2013 Population by Age 5 Minute Drive Time



10.1%

12.6%

19.4%

9.6% 3.5%

13.6%

4.1%

27.1%

12.4%

9.7% 8.2%

3.5%

12.4%

3.8%

27.8% 22.1%

10.7%

11.5%

13.0%

21.9%

5.3%

14.8% 4.4%

18.5%

Demographics Drive Time Map 5 –15—30

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Mirasol Fact Sheet

MIRASOL FACT SHEET

Owner – Jones Holdings NC, LLC Malcolm Jones 561/248-3505

[email protected]

Jurisdiction – Brunswick County, North Carolina

Address of Property – 3950 Southport Supply Road, Southport, NC 28461

NOT accurate with most GPS or Nav maps

Location - Just west of Southport, NC on State Road 211 (being four laned in 2017)

Directly across SR211 from St. James Plantation - 5500 acre mixed use PUD

Rare opportunity on 211 corridor without limitations of wetlands (0%)

Zoning – PD (Planned Development) all unit counts and square footage approved

Enterprize Zone – Tier III www.thrivenc.com

Water – Brunswick County William Pinnix, PE 910/253-2408

Sewer - Brunswick County William Pinnix, PE 910/253-2408

Capacity Enhancement Agreement – July 2015

May require small Capital Deposit for future pump station at Midway Road

On site pump station designed for full buildout (all future parcels)

Stormwater – master stormwater management plan conveyed to all shown retention, permitted for impervious area of

entire parcel

Fiber – ATMC 910/454-8312

Power- BEMC 910/457-9808 Tim Tippett

Natural Gas – not available as of now on SR211 ( may be installed upon 4 lane construct) Piedmont Natural Gas

Post Office – address of Post Office : 206 East Nash St., Southport, NC 28461

Building Code RESIDENTIAL COMMERCIAL

Setbacks Front Yard 20’ Front Yard 25’

Side Yard 5’ Side Yard 11’

Rear Yard 15’ Rear yard 6’

Concurrency Requirements - None

Number of parking spaces required by code for commercial –

Distance to nearest school? 10 To Day Care? .5 To nearest church? .5

Main Entrance Signage – 50’ x 50’ building with roof at entrance to have tenant signage facing each way on SR211,

South facing to hold development signage “Mirasol”, “The Shops”, etc. (Walled building will house sewage pump

station, has open roof in center)

Economic Development – Jim Bradshaw 910/253-4429 Incentives available

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Mirasol Fact Sheet Cont.

MIRASOL FACT SHEET

Engineer of Record – Paramount Engineering 910-791-6707 Tim Clinksdale

Traffic Signal – will become a requirement in some future date at main entrance

211 Construction of 4 Lane Widening Dot Project No R-5021

Funded – Final Board Approval June 2015 Construction Drawings in progress

Emminent Domain – Sept 2015

Construction – 2017 thru 2019

Contact (District 3 Engineer – Anthony Law 910/251-2655)

Soil – Commercial sites may have fill installed by developer at proposed engineered site elevations,

topsoil for final grading also available onsite

Available upon request – Sign Ordinance Phase 1 Environmental

Aerial Soil Borings

TIA Report Title Work

Army Corp Determination of No Wetlands

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Team Contacts

Nicholas Silivanch

Partner/Broker

o: 910.399.4602

c: 910.515.7969

[email protected]

Garry Silivanch

Partner/Broker

o: 910.399.4602

c: 910.617.2163

[email protected]

Bernadette Silivanch

Vice President/Broker

o: 910.399.4602

c: 910.617.2198

[email protected]

Kelly Silivanch and Julie Stephenson

Broker Assistant / Office Manager

o: 910.399.4602

f: 910.399.4675

[email protected] and [email protected]

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