“BRISTOW COMMONS” MARKET RESEARCH

TOTAL ADDRESSABLE MARKET: Unaddressed demand or retail leakage within 3 mile trade area (confirmed by Claritas & ESRI) is $150MM annually
• This translates to over 700,000 sf of required retail space

GROWTH: High growth area with 4% population growth and 5% income growth
• Comparable same store sales growth = 10-12% annually

INCOME: High median annual household income = $106,000
• 25% of households have annual income greater than $150k – in general, top 20% of US population (household income in excess of $85k per year) drive over 50% total US retail sales
• Prince William County has the 7th highest median household income in US

DEMOGRAPHICS: Young demographic with median age of 33 years, dual income and 55% with kids
• Growth and sustainability of revenues due to long runway for income growth
• 93% owner occupied housing with white collar employment & college education
• Peak earnings over the next 10-15 years fuel additional needs and consumption
• Dual income families with kids under 6 years old (20% households) have higher consumption, are pressed for time and local retail convenience

RESIDENTIAL PIPELINE: Over 9,500 homes in 3 mile trade area around Bristow Commons
• Additional 2500 homes are under construction or in the planning pipeline over the next two years in the Linton Hall corridor

EMPLOYMENT: Business growth is expected to continue in PWC and surrounding areas due to federal spending, skilled labor force and low cost of capital
• PWC is a business friendly jurisdiction and Virginia is ranked # 1 in the nation
• As prices normalize, office space is continuing to be absorbed as business formation/relocation continues

CONVENIENCE: Residents around PWC avoid traversing congested roadways to regional retail centers and need complimentary retail convenience
• Convenience is essential in PWC since it has emerged as primarily a bedroom community with two thirds of residents working outside the County
• With an average work commute of 40 minutes each way, convenience is essential to maintaining the quality of life and sustainable communities

LOCATION: Superior visibility and unique location of Bristow Commons in the center of residential expanse coupled with recent improvement of roadways
• Realignment and expansion of Linton Hall Road favors Bristow Commons
• Topography of site offers superior visibility on Linton Hall Road & Devlin Road
• Sudley Manor Drive extension to the south of Bristow Commons creates better access to the trade area