San Diego s Untapped Retail and Dining Market on the I-15 Corridor.

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2 San Diego s Untapped Retail and Dining Market on the I-15 Corridor. Executed lease Over 900,000 SF Proposed Retail, Office and Hotel Dining & Shopping Above the heavily-traveled, affluent and richly populated I-15 Corridor, The Watermark features the perfect fusion of retail and socialization from the statement shops and inspiring architecture to a picturesque central park and meandering streetscape. 1

3 San Diego s Premier Retail Marketplace. F E G A Proposed 375,000 SF (+ 575,000 SF of Office and Hotel) D A B Fashion Valley 1,730,552 SF E The Forum at Carlsbad 265,000 SF C C Westfield UTC 1,080,000 SF F Carlsbad Premium Outlets 287,936 SF D Del Mar Highlands 273,300 SF G Westfield North County 1,259,463 SF B 2

4 Ranks #1 in Average Daily Traffic. Scripps Poway Parkway 34,925 ADT I ,298 ADT The I-15 connects the affluent communities of Poway, Rancho Bernardo, Scripps Ranch, Sabre Springs, 4S Ranch and Del Sur to points north and south in San Diego. The Watermark will service this growing and underserved population. 3

5 The Only Whole Foods on the I-15 Corridor. (Opening late 2016) Population 635,586 (10 miles) 52% College Educated (10 miles) The Watermark will satisfy the unmet needs of an affluent and growing population by offering an exceptional merchandise mix including the only Whole Foods along the I-15 corridor. 4

6 A Unique Gathering Place for an Underserved Clientele. Lush landscaping and artistic waterscape elements create a welcoming outdoor environment, providing local residents with an enticing place to meet with friends over coffee or relax around the fountain. 5

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9 Events Designed to Engage the Community. Outdoor Concerts Holiday Festivities Seasonal Fashion Previews Showcase Local Talent Oktoberfest Outdoor Yoga The Watermark will support popular brands by activating the outdoor venues with community events designed to attract like-minded customers. San Diego s temperate weather provides year-round marketing opportunities to implement a full array of outdoor experiences integrating food, fashion, sports and 7 7aentertainment. Charitable Events Creative Classes Creative Classes Kid s Corner Kids Corner 8

10 Ranks Top 3 in all Critical Measures. F E G Ranking The Watermark to Peers (10 miles) A Fashion Valley B Westfield UTC C Del Mar Highlands D The Forum at Carlsbad E Carlsbad Premium Outlets F Westfield North County G Estimated Total Retail Area (Square Feet) 325,000 1,730,552 1,080, , , ,936 1,259,463 D Population (2016 Projected) #3 653,586 1,285, , , , , ,752 A Households (2016 Projected) #3 235, , , , , , ,091 Income (2016 Est.) Average HH Income #2 $136,967 $ 91,442 $119,986 $151,107 $135,174 $112,626 $128,354 Median HH Income #2 $105,716 $ 68,650 $ 89,822 $114,075 $102,115 $ 87,306 $ 99,470 C 4+ Years College # % 37.50% % % 43.50% % % Daytime Employment #3 370, , , , , , ,742 Average Daily Traffic #1 260, ,173 73,432 50,770 71, , ,412 B 9

11 Disposable Income/ High Density Population = Watermark Shoppers. # 2 in Household Income HOUSEHOLD INCOME (10 miles) $151,107 $136,967 $135,174 $128, ESTIMATED AVERAGE 2016 ESTIMATED MEDIAN $114,075 $105,716 $102,115 $99,470 $119,986 $112,626 $89,822 $87,306 $91,442 $68,650 Del Mar Highlands The Watermark The Forum at Carlsbad Westfield North County Westfield UTC Carlsbad Premium Outlets Fashion Valley # 3 in Population 1,285,344 POPULATION (10 miles) 2016 PROJECTED 778, , , , , , Average Household Income within 10-Mile Ring > $100,000 Miramar Air Station Fashion Valley Westfield UTC The Watermark Del Mar Carlsbad The Forum Westfield Highlands Premium Outlets at Carlsbad North County 10

12 Highly Educated Daytime Population. # 3 in Education 57.60% 52.70% 52.00% College Degree / 4+ Years (10 miles) 43.50% 41.10% 36.50% 36.00% MedImpact Corporate Headquarters at The Watermark (completed 2010) Del Mar Highlands Westfield UTC The Watermark The Forum at Carlsbad Westfield North County Fashion Valley Carlsbad Premium Outlets # 3 in Daytime Population 659,428 Daytime POPULAtION (10 miles) 487, ,189* 301, , , ,742 Fashion Valley Westfield UTC The Watermark Del Mar The Forum Carlsbad Westfield Highlands at Carlsbad Premium Outlets North County * Upon completion, there will be an additional estimated 1,700 on-site employees at The Watermark. 11

13 Class A Office Space 445,000 SF 12

14 Boutique Hotel 125 Rooms 13

15 Highly-visible Freeway Location. 14

16 Contacts. Steve McClurkin EB Development 5465 Morehouse Drive #260 San Diego CA (o) (m) CA License # Don Moser Retail Insite El Camino Real #202 San Diego CA (o) (m) CA License # Ron Pepper Retail Insite El Camino Real #202 San Diego CA (o) (m) CA License # This information is compiled from data believed to be correct but Sudberry Properties makes no representation or warranty as to the accuracy or completeness of such data. 15