MARKET EVALUATION GREAT FALLS, MONTANA. Director of Real Estate Sportsman s Warehouse. direct

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1 Prepared for: Prepared by: Morgan Randis Director of Real Estate Sportsman s Warehouse Chad Moore direct cmoore@mtnwest.com East 400 South, Suite 120 l Salt Lake City, UT Office l Fax

2 TABLE OF CONTENTS EXECUTIVE SUMMARY Hunting & Fishing License Information Major Employers Demographic Data Drive Time Map MAPS Regional Trade Area Map Major Retailers Aerial Map POTENTIAL SITES A. Westwood Plaza

3 1 EXECUTIVE SUMMARY Hunting & Fishing License Information Major Employers Demographic Data Drive Time Map

4 EXECUTIVE SUMMARY Trade Area Summary: Great Falls is the second largest city in the state of Montana. The city is divided by the Missouri River which along with the nearby Rocky Mountain Range provides abundant opportunity for outdoor enthusiasts. The economy in Great Falls is diverse. Malmstrom Airforce Base is located in the trade area and employs almost 5,000 people. In addition healthcare, agriculture, education and retail are major employers Minute Population /Average HH Income: 66,170 / $52, Minute Population /Average HH Income: 78,168 / $53, Mile Population /Average HH Income: 93,080 / $53,211 Total Hunting Licenses: 51,008 (Toole, Liberty, Hill, Pondera, Teton, Chouteau and Cascade Counties) Total Fishing Licenses: 24,718 (Toole, Liberty, Hill, Pondera, Teton, Chouteau and Cascade Counties) Largest Employer: Benefis Health System (2,400 Employees), Malmstrom Air Force Base (5,000 Employees) Major Competitors: Scheels - 50,000 SF Located in Holiday Village Mall. Opened in ,737 Fishing Licenses Sold - 11,667 Hunting Licenses Sold Big Bear Sports - 50,000 SF Located Adjacent to Kmart on Northwest Bypass and 3rd Street. - 3,710 Fishing Licenses Sold - 8,942 Hunting Licenses Sold Walmart - 200,000 SF - 5,586 Fishing Licenses Sold - 7,001 Hunting Licenses Sold

5 ESTIMATED HUNTING & FISHING LICENSE DATA Market / City State 15 Min DT Pop 15 Min Median HH Income 15 Min Average HH Income 15 Min. est. Fishing Licenses 15 Min. est. Hunting Licenses 15 Min. est. Total Licenses Total Licenses in Zip codes Licenses as a % of Pop Nearest Cabela's Nearest Bass Pro Total SA's in Market Total Dick's in Market Great Falls MT 66,976 $40,725 $52,120 24,718 51,008 75,726 75, % > 100 Miles > 100 Miles 0 0

6 MAJOR EMPLOYERS PRIVATE SECTOR Employer Address Business Type Employees Benefis Health System th St. S. Health care services 2,400 Great Falls Clinic th St. S. Health care services 780 N.E.W. Customer Services Cos. 321 Central Ave. Service plan service center 687 Wal-Mart 702 Smelter Ave. N.E. Retailer 501 United Materials th Ave. N Construction 305 Albertson s th Ave. S./1414 3rd St. N.W. Grocery store 261 Easter Seals Goodwill 4400 Central Ave. Services for people with disabilities 249 Macaroni Grill/Chili s 1420 Marketplace Drive Restaurants 247 D A Davidson & Co. 8 3rd St. N. Financial services, travel 246 Missouri River Manor th Ave. S. Nursing and rehabilitation 246 McDonald s th Ave. S./ th St. S.W./1710 3rd St. N.W. Restaurant 241 Town Pump Various locations Convenience stores, hotels, casinos 210 Quality Life Concepts 215 Smelter Ave. N.E. Services for people with disabilities 205 Center for Mental Health 513 1st Ave. S. Mental health services 198 Heritage Inn 1700 Fox Farm Road Hotel 187 Sam s Club 401 Northwest Bypass Retailer 163 Sletten Construction Street N. Construction 161 Great Falls Tribune/Rivers Edge Printing 205 River Drive S. Newspaper and printing 159 Park Place Health Care Center nd St. S. Nursing and rehabilitation services 150 BNSF Railway 121 4th St. N. Railroad 150 University of Great Falls th St. S. University 145 Centene Corp th St. S. Insurance services 145 P SECTOR Employer Address Business Type Employees Malmstrom Air Force Base 21 77th St. N. Military *4,004 Montana Air National Guard 2800 Airport Ave. B. Military **1,033 Great Falls Public Schools th St. S. Public School System 1,613 City of Great Falls 2 Park Drive S. City government 528 Cascade County 415 2nd Ave. N. County government 500 MSU Great Falls Ave. S. University 172 U.S. Postal Service 215 1st Ave. N. Postal Service 168 *3,300 military **340 military

7 DEMOGRAPHIC DATA

8 RETAIL MARKETPLACE PROFILE

9 RETAIL MARKETPLACE PROFILE Leakage/Surplus Factor by Industry Subsector Motor Vehicle & Parts Dealers Furniture & Home Furnishings Stores Electronics & Appliance Stores Bldg Materials, Garden Equip. & Supply Stores Food & Beverage Stores Health & Personal Care Stores Gasoline Stations Clothing and Clothing Accessories Stores Sporting Goods, Hobby, Book, and Music Stores General Merchandise Stores Miscellaneous Store Retailers Nonstore Retailers Food Services & Drinking Places Leakage/Surplus Factor Leakage/Surplus Factor by Industry Group Automobile Dealers Other Motor Vehicle Dealers Auto Parts, Accessories, and Tire Stores Furniture Stores Home Furnishings Stores Electronics & Appliance Stores Building Material and Supplies Dealers Lawn and Garden Equipment and Supplies Stores Grocery Stores Specialty Food Stores Beer, Wine, and Liquor Stores Health & Personal Care Stores Gasoline Stations Clothing Stores Shoe Stores Jewelry, Luggage, and Leather Goods Stores Book, Periodical, and Music Stores Department Stores (Excluding Leased Depts.) Other General Merchandise Stores Florists Office Supplies, Stationery, and Gift Stores Used Merchandise Stores Other Miscellaneous Store Retailers Electronic Shopping and Mail-Order Houses Vending Machine Operators Direct Selling Establishments Full-Service Restaurants Limited-Service Eating Places Special Food Services Drinking Places (Alcoholic Beverages) Leakage/Surplus Factor

10 DRIVE TIME MAP 15 Minutes 30 Minutes

11 2 MAPS Regional Trade Area Map Major Retailers Aerial Map

12 REGIONAL TRADE AREA MAP Babb Saint Mary Sweetgrass Sunburst Whitlash Simpson 50 Miles Kiowa Blackfoot Browning East Glacier Park Santa Rita CUT BANK Ethridge Kevin Oilmont TOOLE SHELBY Dunkirk Devon Galata Lothair LIBERTY CHESTER HILL Rudyard Fresno HinghamKremlin HAVRE PONDERA Dupuyer Valier Pendroy Bynum Agawam Ledger CONRAD Brady GREAT FALLS 50 MILES Laredo Box Elder Big Sandy Rocky Boy Ovando Helmville TETON Lincoln Augusta Gilman CHOTEAU Canyon Creek Farmington Power 15 CASCADE CHOUTEAU Carter Belt Floweree Vaughn Shonkin Sun River Simms Waltham Black Eagle Highwood Fort Shaw GREAT FALLS Ulm Fife Sand CouleeTracy Stockett Armington Craig Wolf Creek Fairfield Hardy Nelson Collins Dutton Adel PROPOSED Portage Loma FORT BENTON Raynesford Geyser Monarch Hughesville Neihart Montague Virgelle Geraldine Square Butte Arrow Creek Coffee Creek Denton STANFORD Kolin Hanover Windham Moccasin LEWISTOWN Hobson Utica Moore Iliad Eagleton Danvers Winifred Suffolk Christina Hilger Goldcreek Warm Springs ANACONDA Opportunity Crackerville Ramsay BUTTE Dewey Divide Garrison Avon DEER LODGE Janney Elliston Austin HELENA Unionville Basin BOULDER Corbin Jefferson City Clancy Winston HELENA TOWNSEND Ringling Radersburg Toston Sixteen Francis Maudlow Eustis Trident Whitehall Cardwell Logan Three Forks Manhattan 50 MILES WHITE SULPHUR SPRINGS Wilsall Lennep Clyde Park Buffalo Martinsdale Twodot HARLOWTON Hedgesville Garneill Judith Gap Shawmut Barber $40,400 RYEGATE DEMOGRAPHIC Melville INFORMATION TOTAL POPULATION: 124,628 TOTAL HOUSEHOLDS: 50,309 AVERAGE HH INCOME: $52,549 Rapelje MEDIAN HH INCOME:

13 MARKET EVALUATION 2N D S T US 89 K D UR HA D R Holiday Village Mall 15 2N D A V E 1S T A V E 5T H A V E 3R D A V E 4T H S T US Great Falls Marketplace 13 T H ST 32 N D A VE 26 T H S T 2N D S T 87 UP P ER RI V ER R D Great Falls International Airport 2A S T US 89 8T H A V E 44 T H S T R 10 T H A VE R RD 38 T H S T D PA CE N TR A L A VE IV E 25 T H S T R R 15 T H S T HN 14 T H S T NO R TH W ES T B Y P UG 5T H S T VA 3R D N R D ST GH ST SM E LT E R A VE VA U US T H S T O L RD D GE 3R TA 6T H S T ON 8T H S T SK Y LI N E D R FR FO X FA RM RD TH EH WY MAJOR RETAILERS AERIAL MAP 40 T H A VE Office l Fax

14 3 POTENTIAL SITES A. Westwood Plaza

15 WESTWOOD PLAZA 207 NORTHWEST BYPASS GREAT FALLS MONTANA SITE 1 Available Size: Up to 30,000 SF Lease Price: $9.00 $12.00 PSF NNN Availability: Immediate Traffic Counts: Northwest Bypass: 12,640 AADT (2011) 3rd Street: 19,050 AADT (2011) Co-Tenancy: Sam s Club, Kmart, Shopko, Staples, Dollar Tree and Petco Comments: Site is located between major anchors K-Mart, Sam s Club and Shopko. Building is existing with Dollar Tree and Staples. Landlord is retro-fitting to accommodate Petco, Remodel Staples and Dollar Tree. DEMOGRAPHICS 1 MILE 3 MILES 5 MILES POPULATION 2012 ESTIMATED POPULATION 8,392 45,373 64, PROJECTED POPULATION 8,606 46,361 65,890 HOUSEHOLDS 2012 ESTIMATED HOUSEHOLDS 3,753 19,735 27, PROJECTED HOUSEHOLDS 3,888 20,366 28, EST. AVERAGE HH INCOME $45,595 $51,341 $52, EST. MEDIAN HH INCOME $35,506 $39,043 $40, EST. PER CAPITA INCOME $20,055 $22,774 $23,016

16 1st Street Street 2nd Street 5,110 cars/day cars/day MARKET EVALUATION INTERSECTION MAP 16th Avenue 3rd Street Street 6th Avenue Avenue 14th Avenue cars/day Northwest Bypass 12,640 cars/day 14,060 cars/day cars/day 19,050 cars/day

17 26TH ST MARKET EVALUATION MAJOR RETAILERS AERIAL MAP TH F R ON TAGE RD 6TH ST SKYLINE DR SMELTER AVE 8TH ST OLD HAURE HWY US 87 VAUGHN RD V A U GHN R D US NORTHWEST BYP CENTRA L AVE US 89 3RD ST 3R D S T R 2ND ST 2A ST IV E R PARK DR 4TH ST 5TH ST DR 10TH ST 14TH ST 15TH ST 2ND AVE 8TH AVE Holiday Village Mall 25TH ST 5TH AVE 1ST AVE US 87 38TH ST 44TH ST 3RD AVE 10TH AVE Great Falls International Airport FOX FARM RD Great Falls Marketplace 2ND ST UPPER RIVER RD 13TH ST 32ND AVE 40TH AVE

18 SITE PLAN