Columbia, Missouri

Activity Report May 2005

BASS PRO SHOPS GRAND OPENING MARCH 31 ST WAS A HUGE SUCCESS. SALES AND TRAFFIC COUNTS ARE AHEAD OF BASS PROJECTIONS. SHOPPERS ARE COMING FROM A WIDE RADIUS OF 2 TO 3 HOURS AND STAYING FOR ABOUT 2 HOURS.

THE CITY OF COLUMBIA CONVENTION AND VISITORS BUREAU REPORTS THAT THE CITY HAS OVER ONE MILLION TRANSIENT DAY VISITORS WHERE THE PRIMARY VISIT PURPOSE IS SHOPPING. ADDITIONALY, PERSON VISITS IN AREA HOTELS EXCEED ONE MILLION ON A "ONE PERSON/ONE NIGHT" COUNT.

INCLUDING ALL CONVENTION DELEGATES AND MISSOURI UNIVERSITY EVENTS COLUMBIA HAS OVER 3 MILLIONS VISITORS ANNALLY FRO OUTSIDE A 60 MILE RADIUS.

CENTERSTATE SHOPS THE TWIN 22,500 SQ FT BUILDINGS ARE SANDWICHED BETWEEN BASS PRO SHOPS AND THE HILTON GARDEN INN. BOTH OF THESE BUILDINGS CONTAINING 45,000 SQ FT. HAVE BEEN COMPLETED WITH SOME TENANT IMPROVEMENT UNDERWAY AND LEASING EFFORTS UNDERWAY.

HILTON GARDEN INN   THIS 152 ROOM FOUR STAR HOTEL HAS STARTED THEIR FOURTH FLOOR AND WINDOW CONSTRUCTION WITH OPENING SCHEDULED FOR THE FALL OF 2005.

FURNITURE ROW CONSTRUCION IS ABOUT 65% COMPLETED. OPENING IS SCHEULED FOR AUGUST 2005

LONESTAR STEAKHOUS AND SALOON   CONSTRUCTION IS UNDERWAY, OPENING IS SCHEDULED FOR LATE SUMMER.

RUBY TUESDAY CONSTRUCTION HAS STARTED WITH COMPLETION IN SCHEDULED IN AUGUST. OPENING FOR RUBY TUESDAY AND LONESTAR WILL BE ABOUT ONE MONTH APART.

COMMERCE BANK CONSTRUCTION IS EXPECTED TO START IN JULY WITH A FALL OPENING OF THE BANK

PHILLIPS 66   ALL CITY APPROVALS HAVE BEEN OBTAINED, CONSTRUCTION WILL START IN EARLY JUNE WITH   AN OPENING PLANNED FOR LATE FALL

UNITED METHODIST STATE HEADQUARTERS   CONSTRUCTION IS UNDERWAY. MOVE IN DATE HAS BEEN SET FOR DECEMBER 1 ST .

SPECIALITY RETAIL CENTER THIS FIVE ACRE SITE IS BEING DEVELOPED BY KOLB PROPERTIES OF JEFFERSON CITY.