LOCATION:

Both sides of Highway 2/52 Bypass @ 13th Street : 65 acres

These regional sites are located east of the Dakota Square Mall in a market that serves as the northern gateway to Canada. Minot is a major transportation hub, with three state highways and three interstate railroads bisecting the city. Minot is located approximately 100 miles north of Bismark and approximately 200 miles northwest of Fargo.

MARKET DRIVERS:

The area is the home to the Minot AFB (10,000 personnel) that will remain open despite national base cuts. Major private employers include Trinity Healthcare (2,500 employees), ING Minot Service Center (765 employees), Choice Hotels (500 employees) and Sykes, Inc. (435 employees). The largest bio diesel plant in the nation is to be built.

MALL INFORMATION:

Built in 1980 and later renovated in 1988, Dakota Square Mall has approximately 85 stores in an estimated 660,000 sf single-level enclosed regional shopping center. The Mall has an overall occupancy rate of about 94% with average sales of plus $300 sf, an is anchored by Sears, Target, JC Penney, Herberger's, Cinema 9-Plex, and the Sleep Inn & Suites, which features convention facilities and a 20,000 sf water park.

DEVELOPMENTS:

The subject sites contain approximately 30 developable acres to the north of the Bypass and 35 developable acres to the south of the Bypass, with approximately one-half of a mile of bypass frontage at grade with access.

PROJECT TIMETABLE:

ENTITLEMENTS THROUGH

CONSTRUCTION START

TENANT DELIVERIES

PROJECT STABILIZATION

SUMMER 2007

SUMMER2007

SPRING 2008

CHRISTMAS 2008

SITE PLAN:

NORTH BYPASS PARCEL

SOUTH BYPASS PARCEL

ESTIMATED SOUTH PARCEL PLAN

ESTIMATED SOUCH PARCEL OUTLOTS

+ 30.00 acres

+ 35.00 acres

+ 220,000 square feet

+ 9.69 acres

AREA OCCUPANTS:

Applebee's, Best Buy, Carmike Cinemas, Famous Footwear, K-Mart, Menards, OfficeMax, Old Navy, Payless Shoe Source, Pier 1 Imports, Scheel's All Sports, Slumberland, Staples, and Wal-Mart Supercenter

DEMOGRAPHICS:
(2003 Estimate)

100-Mile Population: 210,000
100-Mile Household Income: $45,000

50-Mile Population: 80,000
50-Mile Household Income: $42,000