retail site analysis - loopnet

Retail Site Analysis

Highlands Gateway Land Trust

Highlands Gateway 2741 U.S. Highway 27 South

Lake Placid, Florida

April 5, 2014

PPrroojjeecctt SSuummmmaarryy Highlands Gateway Land Trust currently owns a previously undeveloped multiple‐acre land parcel located at the intersection of U.S. Highway 27 and Florida Highway 70. The company has proposed to create a new generation travel center that would offer a branded fuel forecourt, unbranded designated truck fueling lanes, convenience store including proprietary foodservice, and a free‐standing Tier II branded foodservice (QSR) operation. The focus of this Retail Sales Analysis (RSA) is to forecast average monthly gasoline, diesel, convenience store, and Tier II foodservice sales volumes during the first three years of planned operation. A detailed development strategy has been created and analyzed for the purpose of establishing sales volume performance objectives.

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Management Summary 3

Site Photos and Plans 8

Traffic Summary 11

Facility Development Strategies 12

Projections: Metrics and Range 14

Pro Forma Income Statements 15

Competition Summary and Map 18

Trade Area Map and Demographics 29

IMST Traffic Counts Based on 24‐Hour Count (2014)

U.S. Highway 27

15,383

Florida Highway 70

9,685

Total

25,068

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The studied site is located within the northeast quadrant of the intersection of U.S. Highway 27 and Florida Highway 70 in the city limits of Lake Placid, county of Highlands, Florida.

Designated address is 2741 US Highway 27 South, Lake Placid, FL 33852

Existing topographical conditions within the vicinity of the site and studied intersection creates good overall visibility characteristics. Desired visibility/reaction ratios can be achieved. A properly conceived site plan and correct facility placement can enhance customer awareness and exposure factors.

US Highway 27 is a four‐lane, north/south, secondary artery that serves as a commercial corridor extending through central Florida serving interior sections of the state and acting as a primary arterial link. A full median does exist at the intersection and within proximity of the site. The intersection has been expanded to include designated directional turn lanes. Posted speed‐ 55 MPH.

Florida Highway 70 is a two‐lane, east/west, secondary artery that extends between the east and west coasts of Florida serving the communities and agricultural areas of south Florida. It has been expanded to include turn lanes at the intersection. No barrier or obstacle restricts overall directional movement. Posted speed‐ 45 MPH.

The site will have direct access to either artery to be served. The site will not have direct access to southbound movement of US Highway 27. It will have full‐directional access to all movement on FL Highway 70.

Full electronic vehicular regulation (including designated turn sequencing) is in place at the intersection. This is a positive factor relative to overall vehicular flow through the intersection.

The exact size of the designated portion of land that will compose the site has not yet been determined by the owners/developers. However, it is known that adequate land area will be made available to accomplish all stated development objectives. Good on‐site movement characteristics exist. Proper site planning and facility placement will ensure that integrated functionality of each distinct profit center will be achieved.3

Relative to the primary arteries to be served, no planned or proposed expansions or improvements have been identified. Therefore, the creation of a viable site plan for the proposed facility will be relevant in the long‐term to serve the existing arterial configuration.

Management Summary


Competitive Summary: Gasoline/Diesel/Convenience Store

Fuel Brands/Chains Shell, Gate, Marathon, Chevron, RaceWay

# of Competitors 5

Gasoline/Diesel Positions 30/40

Convenience Store SF 10,500 SF

Average Distance from Site 3.7‐Miles

Competitive Summary: QSR

Brands/Chains KFC, McDonald’s, Wendy’s

# of Competitors 3

Total Interior Seats 212

Total QSR SF 8,100 SF

Average Distance from Site 6.2‐Miles

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TTrraaddee AArreeaa The primary trade area of the proposed facility is the daily vehicular movement through the studied intersection. A limited residential population exists within the very‐expanded market. Minimum commercial and retail activity generators are located within the immediate vicinity of the site which explains the lower daytime population level (in relationship to the overall market) and the reduced level of consistent daytime activity. Existing arterial configuration is not conducive to full‐directional support (as it relates to US Highway 27) of the proposed facility by exposed vehicle movement patterns. The existence of the scattered employment destination points located within all directions of the site does have a positive impact on the proposed development plan. Though rather minor in terms of overall size, a commercial, manufacturing, and industrial base does exist within the trade area. The strength in terms of daytime populations and employment within the trade area is generated almost exclusively from agricultural activities; the region is a major citrus crop producer. However, the negative implication of this fact is the strong seasonality of the associated activity within the commercial segment.

Trade Area 2013 Population 3‐Mile 3,221

2013 Households 3‐Mile 1,104

% Household Change 2013‐2018 3‐Mile 1%

2013 Average HH Income 3‐Mile $45,450

2013 Median HH Income 3‐Mile $30,685

Total Household Vehicles 3‐Mile 2,256

Total Employees 3‐Mile 593

Total Daytime Population 3‐Mile 2,658

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New generation travel center offering automotive forecourt, designated/segregated truck fueling, convenience store, and free‐standing branded foodservice.

Eight (8) MPD’s with sixteen (16) fueling positions in a "stacked dive‐in" fueling configuration.

Eight (8) diesel (non‐truck) fueling positions integrated into forecourt design.

Six (6) segregated truck fueling lanes with Master/Slave hi‐volume fuel dispensers. Designated lanes will feature DEF, off‐road diesel, and biodiesel.

Forty‐eight (48) on‐site designated truck parking spaces.

Full customer amenities at fueling positions and truck lanes.

Competitive pricing position will be established and maintained.

An approximate 5,000 square foot building for the travel center/convenience store with limited trucker merchandise categories, amenities, and services. .

Fifteen (15) up‐front store parking spaces. Additional remote site parking.

Expanded convenience merchandise categories will be created relative to all "consumable" product categories as well as specific traditional categories and selections.

Hot, cold, and frozen expanded beverage counter with multiple choices allowing individual customer "taste satisfaction" and "appropriate size selection" based on individual wants.

Eighteen (18) door walk‐in display cooler in combination with a five (5) door walk‐in display freezer, of which, two (2) freezer doors will be used for bagged ice merchandising.

A beer cave merchandising/product placement format will be implemented.

Expanded interior restrooms offering the latest in customer amenities, enhanced lighting, and elevated cleanliness standards. Separate and distinct from trucker restroom and shower area.

A total of five (5) customer service‐transaction areas will be incorporated into the design; two (2) will be dedicated to "trucker only" and three (3) will be for all other transactions.

Specialty customer services such as lottery, ATM, money orders, etc. will be offered.

Highway billboard transitional program will be placed on US Highway 27 multiple miles north and south, and on FL Highway 70 multiple miles east and west of the intersection.

Operational 24 hours per day, seven (7) days per week.

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Approximate 3,100 square foot Tier II foodservice concept.

Open drive‐thru.

Pre‐order menu position at drive‐thru.

38 parking spaces.

12 exterior seats in landscaped patio area.

Interior seating capacity of 58.

Three (3) order positions at customer service counter.

Expanded restrooms.

Partial day‐part menu.

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* NOTE: Forecasted convenience store sales do not include truck merchandiser, trucker amenities, and services, i.e., showers, laundry, etc.

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Five (5) existing convenience store/fuel competitors within more than a seven mile radius have been identified and analyzed as having an impact on the site. The two units that do exist at the same location are poorly conceived, outdated, and poorly operated facilities that exhibit numerous deficiencies, and are categorized as significantly below average by current industry standards. The existing units have benefited from the lack of strong competitive development and market entry. The RaceWay (#5) is a newer generation facility that has good appearance factors in place; however, the impact of the attractiveness of the facility is negatively impacted by the lower‐than‐acceptable operational standards in place. A positive competitive environment does exist in terms of establishing the level of potential customer support that might exist for the proposed facility. Primary operational emphasis of the new facility will be the daily vehicle movement through the studied intersection. The impacted arteries are corridors within a large geographic area that comprises central‐south Florida. Both corridors to be served have a strong activity influence on the trade area. The full‐time resident area population is overwhelmingly white which establishes the fact the product/service mix to be offered by the proposed facility does not need to be ethnically focused in total. However, the influx of migrant workers at select periods each year require the facility to have a defined seasonal flexibility in its merchandising creativity. Approximately 25,000 vehicles pass through the studied intersection and are exposed to the site on a daily basis. This relatively strong amount of daily movement underscores the importance of the arteries within the area. Full‐directional combined arterial directional movement is the most significant to the studied site. The level of vehicular movement is a relatively strong baseline number for providing an above average level of potential customer support. No extended short‐term significant economic activity that would positively impact the targeted trade area has been identified. Accelerated growth will not take place in the short‐term; the trade area will not significantly change or grow. Much has been written and speculated as to the nature of the level of positive impact the widening of the Panama Canal will have on the major ports along the east coast of Florida. Hence, the potentiality of substantial increase in truck volume activity along the highways of south‐central Florida. Such increased activity would directly impact the arteries to be served by the proposed facility. The widening of the canal is scheduled to be completed in 2014; the anticipated level of accelerate activity will slowly and

Average Monthly Volume Projections

Year 1 Year 2 Year 3

Gasoline Volume (Gallons) 153,074 156,901 160,431

Diesel Volume (Gallons) 374,828 382,325 389,971

Convenience Sales (Dollars)* $131,328 $134,611 $137,640

Tier II Foodservice Sales (Dollars) $78,050 $80,001 $81,801

SSuummmmaarryy ((ccoonnttiinnuueedd)) systemically rise from the time of expansion completion. As witnessed by the creation of the NAFTA Treaty nearly two decades ago, the level of increased activity within the western Gulf Coast areas and along the mid‐continent arterial system has been gradually increased resulting in an overall positive impact on related business entities. As that has been, this will be. A gradual, steady increase overall transit activity resulting in long‐haul capacity and/or intermodal development. Exempting the statements being made regarding the activity associated with the Panama Canal, the trade area as it appears today will be what the trade area will primarily appear to be tomorrow. The management of Highlands Gateway Land Trust must determine if an adequate return on investment can be realized when forecasted sales volumes contained within this document are compared to estimated development costs of the project combined with daily operational costs to be incurred.

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Intersection viewed from the north on US Highway 27 Intersection viewed from the south on US Highway 27

Intersection viewed from the east on FL Highway 70 Intersection viewed from the west on FL Highway 70

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Site viewed from the northwest across US Highway 27 Site viewed from the southeast across FL Highway 70

Site viewed from the southwest across the studied intersection

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Conceptual Plan A

Conceptual Plan B

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Traffic Summary

Average Daily Traffic Counts Florida DOT (2013)

Primary Artery: U.S. Highway 27

Combined movement north of the site 8,100

Combined movement south of the site 6,838

Secondary Artery: Florida Highway 70

Combined movement east of the site 4,300

Combined movement west of the site 3,700

Average Daily Traffic Counts Determined by IMST (2014)

Primary Artery: U.S. Highway 27

Northbound movement (non‐truck/truck) 5,065/2,345

Southbound movement (non‐truck/truck) 5,833/2,140

Total U.S. Highway 27 movement 15,383

Secondary Artery: Florida Highway 70

Eastbound movement (non‐truck/truck) 3,212/917

Westbound movement (non‐truck/truck) 4,788/768

Total Florida Highway 70 movement 9,685

Total Intersection (non‐truck/truck) 18,898/6,170

Total Intersection Traffic 25,068

U.S. Highway 27 and Florida Highway 70

Name: Brand: Case # 0Location: Intersection: NortheastType: Impact: 252.1

8 MPD's Updated Canopy Unleaded $3.59 9

Electronic Free Air/Water Midgrade

16 # of Gas Hoses Yes CRIND's Premium

3 # of Gas Grades 7 Brand Sign Facings Diesel $4.09 9

16 # of Fueling Positions 2 Price Sign Facings Card Discount

8 # of Diesel Hoses Yes Pre Pay Fuel

6 # of Truck Lanes 4 # of Access Points Strategy 0.00

# of Kerosene Hoses Restricted Visibility 0.00

# of E‐85 Hoses Electronic Traffic Regulation

# of EV Stations Crossover Road Configuration 100.524 # of Self Service Hoses Average On Site Movement 26.5

# of Full Service Hoses 55 Posted Speed 125.1Stacked Fuel Configuration 5,000 Size of Store 44.0

Car Wash 15 Up Front Parking 1.00

18 Walk In Cooler Doors Average Maintenance Expanded RestroomsReach In Cooler Doors Average Interior Lighting Average Snack Merchandising

Yes LED Cooler Lighting Average Interior Signage Average Tobacco Merchandising

3 Walk In Freezer Doors Average Fountain Beverage Full Credit/Debit Card

Reach In Freezer Doors Average Frozen/Specialty 24 Hours of Operation

Competitive Impact

Gasoline ScoreDiesel ScoreConvenience Store ScoreFast Food Score

Convenience Store

Distance Score

Travel Center

Forecourt & Exterior

Facility Development Strategy

Branded

Posted Prices

Highlands Gateway2741 US Highway 27 South

Reach In Freezer Doors Average Frozen/Specialty 24 Hours of Operation2 Open Coolers Average Coffee Bar 5 Cashier Stations2 Interior Ice Doors 3 Beer/Wine Doors Yes Lottery4 Exterior Ice Doors Yes Beer Cave Yes ATM

Novelty Freezers Tier II Fast Food Brand Yes Uniforms

Average Interior Visibility Made2Order Fast Food Average Customer Service/Experience

Brand: Operation: Case # 1Location:Type: Intersection: Northeast

94.63100 Building Size 4 # of Access Points 165 # of Brand Sign Facings Average Visibility 1.00

38 # of Parking Spaces Electronic Traffic Regulation58 # of Interior Seats Crossover Road Configuration

National Brand Recognition Average On Site MovementUpdated Brand Image Compliance 55 Posted SpeedOpen Drive Thru Service

Average Drive Thru StackingYes Pre‐Order Menu Board12 # of Exterior Seats

Average Exterior MaintenanceAverage Exterior Lighting

Average Interior Visibility Yes Employee UniformsAverage Interior Maintenance Yes ATMExcellent Interior Lighting Yes Credit Card/Debit

Excellent Interior Signage 24 HoursSelf Serve Fountain Beverage Bar Interior Play Area

QSR Exterior

Fast Food ScoreBrand ScoreDistance Score

QSR Interior

Competitive Impact ‐ QSR

Facility Development Strategy: Fast Food

FranchiseBranded Tier II QSR2741 US Highway 27 SouthQSR ‐ Tier II

Self Serve Fountain Beverage Bar Interior Play AreaCoffee Bar Partial Menu Day Parts

Expanded Restrooms


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Projections, Analytical Range, & Metrics

TTrraaddee AArreeaa MMeettrriiccss Primary Area of Influence – 3 Mile Radius

Total Intersection Traffic – 25,068 VPD

Explained Intersection Traffic – 20.4%

Passing Intersection Traffic – 79.6%

Trade Area in Square Miles – 28.27 SQ/MI

Trade Area Population Density – 33

PPrroojjeeccttiioonn MMeettrriiccss Annual Gasoline Volume Year 1 – 1,836,888 gallons

Gasoline Gallons per Dispenser – 19,134 gallons

Annual Diesel Volume Year 1 – 4,497,936 gallons

Annual Convenience Sales Year 1 – $1,575,936

Convenience Store Sales per Square Foot ‐ $26.27

Annual Tier II Foodservice Sales Year 1 ‐ $936,600

Year 1 Year 2 Year 3



Convenience Sales (Dollars)* $131,328 $134,611 $137,640


* NOTE: Forecasted convenience store sales do not include truck merchandiser, trucker amenities, and services, i.e., showers, laundry, etc.

LOW Year 1 Year 2 Year 3



Convenience Sales (Dollars) $120,822 $123,238 $125,703


HIGH Year 1 Year 2 Year 3



Convenience Sales (Dollars) $141,834 $145,380 $148,651


Pro Forma Income StatementPrepared by IMST Corp.


2741 U.S. Highway 27 South, Lake Placid, Florida 33852

SALES PER MONTH (Monthly Average) YEAR 1 YEAR 2 YEAR 3



Convenience Sales $131,328 $134,611 $137,640

Foodservice Sales $78,050 $80,001 $81,801

MARGIN PER MONTH

Gasoline (CPG) $0.14 $21,430 $21,966 $22,460

Diesel (CPG) $0.20 $74,966 $76,465 $77,994

Convenience Sales 34.0% $44,652 $45,768 $46,798

Foodservice Sales 65.0% $50,733 $52,001 $53,171

Total Gross Margin $191,780 $196,200 $200,423

OPERATING EXPENSES PER MONTH

% of Total Gross Margin $

Wages 24.5% $46,986 $48,069 $49,104

Payroll Taxes 2.4% $4,603 $4,709 $4,810

Workers Compensation 0.8% $1,534 $1,570 $1,603

Health Insurance 3.6% $6,904 $7,063 $7,215

Utilities 4.2% $8,055 $8,240 $8,418

Property Taxes, Licenses 2.5% $4,794 $4,905 $5,011

Business Insurance 1.0% $1,918 $1,962 $2,004

Equipment Rent 1.0% $1,918 $1,962 $2,004

Communications 1.0% $1,918 $1,962 $2,004

Credit Card Fees 10.5% $20,137 $20,601 $21,044

Repairs & Maintenance 3.0% $5,753 $5,886 $6,013

Supplies 1.7% $3,260 $3,335 $3,407

Advertising & Promotion 1.2% $2,301 $2,354 $2,405

Cash Short and Over 0.3% $575 $589 $601

Other Not Listed 2.3% $4,411 $4,513 $4,610

Total Operating Expenses 60.0% $115,068 $117,720 $120,254

NET PROFIT

Monthly Net Profit Before Tax & Other Expenses $76,712 $78,480 $80,169

Annual Net Profit Before Tax & Other Expenses $920,544 $941,758 $962,029

General Assumptions:Store is developed in accordance with facility development strategy developed by IMST Corp.Store is operated meeting NACS industry standards.

Store meets volumes and sales indicated by IMST Corp. projections.

Specifc Assumptions:Based on 2012 NACS State of the Industry Report powered by CSXOperating expenses do not include debt service, depreciation & amortization, personal taxes, adminstrative allocation, or franchise fees.



2741 U.S. Highway 27 South, Lake Placid, Florida 33852 LOW






MARGIN PER MONTH

Gasoline (CPG) $0.14 $19,287 $19,673 $20,067

Diesel (CPG) $0.20 $67,469 $68,818 $70,195






Wages 24.5% $42,755 $43,610 $44,482

Payroll Taxes 2.4% $4,188 $4,272 $4,357



Utilities 4.2% $7,329 $7,476 $7,626



Equipment Rent 1.0% $1,745 $1,780 $1,816

Communications 1.0% $1,745 $1,780 $1,816

Credit Card Fees 10.5% $18,324 $18,690 $19,064


Supplies 1.7% $2,967 $3,026 $3,087



Other Not Listed 2.3% $4,014 $4,094 $4,176


NET PROFIT


Annual Net Profit Before Tax & Other Expenses $837,647 $854,399 $871,488






2741 U.S. Highway 27 South, Lake Placid, Florida 33852 HIGH






MARGIN PER MONTH

Gasoline (CPG) $0.14 $23,573 $24,163 $24,706

Diesel (CPG) $0.20 $83,295 $84,961 $86,660






Wages 24.5% $51,421 $52,605 $53,736

Payroll Taxes 2.4% $5,037 $5,153 $5,264



Utilities 4.2% $8,815 $9,018 $9,212



Equipment Rent 1.0% $2,099 $2,147 $2,193

Communications 1.0% $2,099 $2,147 $2,193

Credit Card Fees 10.5% $22,038 $22,545 $23,030


Supplies 1.7% $3,568 $3,650 $3,729



Other Not Listed 2.3% $4,827 $4,938 $5,045


NET PROFIT


Annual Net Profit Before Tax & Other Expenses $1,007,438 $1,030,625 $1,052,794




53.73040 Total Auto Diesel Fueling Positions

10,5002,100

42.7 Average Gasoline Impact Score Market Price Gasoline $3.63 9

8.1 Average Diesel Impact Score45.8 Lead Price Gasoline $3.59 9

0.8 Average Fast Food Impact Score0.0 Average Distance Impact Score Market Price Diesel $4.09 9

130.3 Lead Price Diesel $4.09 9

46.1Date: 3/25/2014

Maximum Competitor Impact ScoreMinimum Competitor Impact Score

Posted Prices

Average Convenience Store Square Footage

Average Convenience Impact Score

Brands and Convenience Chains

Competitive Impact Scores

Competitive Analysis Summary

Trade Area Summary

Total Competitive UnitsAverage Distance in MilesTotal Gasoline Fueling Positions

Total Convenience Store Square Footage

0

20

40

60

80

100

120

140

Chevron

Shell

Marathon

Gate

RaceW

ay

130.34

100.90

46.11

94.89

110.71

Impact Scores

Name: Brand: Map #: 1Location: Intersection: SouthwestType: Distance: 0

4 MPD's Standard Canopy Unleaded $3.59 9

Electronic Pay Air/Water Midgrade





3 # of Truck Lanes 2 # of Access Points Strategy ‐0.04

# of Kerosene Hoses Average Visibility 0.00


# of EV Stations Crossover Road Configuration 55.510 # of Self Service Hoses Poor On Site Movement 11.5

# of Full Service Hoses 55 Posted Speed 41.1Parallel Fuel Configuration 2,600 Size of Store 4.0

Car Wash Up Front Parking

14 Walk In Cooler Doors Poor Maintenance Interior RestroomsReach In Cooler Doors Poor Interior Lighting Poor Snack MerchandisingLED Cooler Lighting Poor Interior Signage Limited Tobacco Merchandising

Walk In Freezer Doors Limited Fountain Beverage Full Credit/Debit CardReach In Freezer Doors Frozen/Specialty Hours of OperationOpen Coolers Limited Coffee Bar 2 Cashier StationsInterior Ice Doors 5 Beer/Wine Doors Yes Lottery

1 Exterior Ice Doors Beer Cave Yes ATM1 Novelty Freezers Fast Food Brand Yes Uniforms

Poor Interior Visibility Made2Ord Fast Food Below Avg Customer Service/Experience

Date: 3/25/2014

Forecourt & Exterior

Competition Analysis: Convenience Store and Fuel

Chevron

Posted Prices

Food MartU.S. Highway 27 and FL Highway 70Island Marketer

Convenience Store

Distance Score

Competitive Impact

Gasoline ScoreDiesel ScoreConvenience Store ScoreFast Food Score

Name: Brand: Map #: 2Location: Intersection: NorthwestType: Distance: 0




3 # of Gas Grades 4 Brand Sign Facings Diesel



2 # of Truck Lanes 2 # of Access Points Strategy ‐0.04

# of Kerosene Hoses Average Visibility


# of EV Stations Crossover Road Configuration 53.510 # of Self Service Hoses Poor On Site Movement 9.5

# of Full Service Hoses 55 Posted Speed 26.0Parallel Fuel Configuration 2,400 Size of Store 0.0

Car Wash 6 Up Front Parking

12 Walk In Cooler Doors Below Avg Maintenance Interior RestroomsReach In Cooler Doors Below Avg Interior Lighting Limited Snack Merchandising

Yes LED Cooler Lighting Below Avg Interior Signage Average Tobacco Merchandising

Walk In Freezer Doors Average Fountain Beverage Full Credit/Debit Card2 Reach In Freezer Doors Limited Frozen/Specialty Hours of Operation2 Open Coolers Limited Coffee Bar 2 Cashier Stations1 Interior Ice Doors 4 Beer/Wine Doors Yes Lottery4 Exterior Ice Doors Yes Beer Cave Yes ATM

Novelty Freezers Fast Food Brand Yes Uniforms

Poor Interior Visibility Fast Food Poor Customer Service/Experience

Date: 3/25/2014


Circle K ShellU.S. Highway 27 and FL Highway 70Convenience Store

Forecourt & Exterior Posted Prices

Competitive Impact

Gasoline ScoreDiesel ScoreConvenience Store ScoreFast Food ScoreDistance Score

Convenience Store

Name: Brand: Map #: 3Location: Intersection: EastsideType: Distance: 4.4


2 Electronic Free Air/Water Midgrade





# of Truck Lanes 2 # of Access Points Strategy ‐0.04

# of Kerosene Hoses BelowAvg Visibility 0.00

# of E‐85 Hoses None Traffic Regulation

# of EV Stations Ltd Access Road Configuration 26.026 # of Self Service Hoses BelowAvg On Site Movement 4.0

# of Full Service Hoses 60 Posted Speed 5.7Parallel Fuel Configuration 300 Size of Store 0.0

Car Wash Up Front Parking 0.06

Walk In Cooler Doors Poor Maintenance Exterior RestroomsReach In Cooler Doors Poor Interior Lighting Poor Snack MerchandisingLED Cooler Lighting Poor Interior Signage Poor Tobacco Merchandising

Walk In Freezer Doors Fountain Beverage Full Credit/Debit Card5 Reach In Freezer Doors Frozen/Specialty Hours of Operation

Open Coolers Coffee Bar 1 Cashier StationsInterior Ice Doors Beer/Wine Doors Lottery

1 Exterior Ice Doors Beer Cave ATMNovelty Freezers Fast Food Brand Uniforms

Poor Interior Visibility Fast Food Poor Customer Service/Experience

Date: 3/24/2014


Food Center MarathonU.S. Highway 27 (north)Service Station/Snacks


Competitive Impact


Convenience Store

Name: Brand: Map #: 4Location: Intersection: SouthwestType: Distance: 6.5


Electronic Free Air/Water Midgrade $3.87 9

8 # of Gas Hoses Yes CRIND's Premium $4.00 9

3 # of Gas Grades 4 Brand Sign Facings Diesel



# of Truck Lanes 5 # of Access Points Strategy 0.06

# of Kerosene Hoses BelowAvg Visibility


# of EV Stations Crossover Road Configuration 61.512 # of Self Service Hoses BelowAvg On Site Movement 7.5

# of Full Service Hoses 45 Posted Speed 70.3Dive In Fuel Configuration 2,400 Size of Store 0.0


11 Walk In Cooler Doors Average Maintenance Interior RestroomsReach In Cooler Doors Below Avg Interior Lighting Limited Snack MerchandisingLED Cooler Lighting Below Avg Interior Signage Average Tobacco Merchandising

Walk In Freezer Doors Limited Fountain Beverage Full Credit/Debit Card1 Reach In Freezer Doors Frozen/Specialty Hours of Operation1 Open Coolers Limited Coffee Bar 2 Cashier Stations

Interior Ice Doors 5 Beer/Wine Doors Yes Lottery2 Exterior Ice Doors Beer Cave Yes ATM

Novelty Freezers Fast Food Brand Yes Uniforms

Average Interior Visibility Fast Food Average Customer Service/Experience

Date: 3/25/2014


Gate ProprietaryU.S. Highway 27 and Tower StreetConvenience Store


Competitive Impact


Convenience Store

Name: Brand: Map #: 5Location: Intersection: SoutheastType: Distance: 7.4





# of Fueling Positions 2 Price Sign Facings Card Discount


# of Truck Lanes 3 # of Access Points Strategy 0.06

# of Kerosene Hoses BelowAvg Visibility 0.00

# of E‐85 Hoses None Traffic Regulation

# of EV Stations Crossover Road Configuration 0.048 # of Self Service Hoses Average On Site Movement 25.0

# of Full Service Hoses 50 Posted Speed 85.7Stacked Fuel Configuration 2,800 Size of Store 0.0


14 Walk In Cooler Doors Average Maintenance Interior Restrooms3 Reach In Cooler Doors Below Avg Interior Lighting Limited Snack Merchandising

LED Cooler Lighting Below Avg Interior Signage Average Tobacco Merchandising

Walk In Freezer Doors Average Fountain Beverage Full Credit/Debit CardReach In Freezer Doors Limited Frozen/Specialty Hours of Operation

1 Open Coolers Average Coffee Bar 2 Cashier StationsInterior Ice Doors 5 Beer/Wine Doors Yes Lottery

4 Exterior Ice Doors Yes Beer Cave Yes ATM1 Novelty Freezers Fast Food Brand Yes Uniforms

Average Interior Visibility Fast Food Average Customer Service/Experience

Date: 3/25/2014


RaceWay ProprietaryU.S. Highway 27 and Lakeview Road, Lake PlacidConvenience Store


Competitive Impact


Convenience Store

36.2

8,1002,700 Average Fast Food Square Footage140212

7

76.4 Average Fast Food Impact Score12.0 Average Brand Impact Score0.0

83.471.5

Date: 3/24/2014

Competitive Analysis Summary: Fast Food

Trade Area QSR Summary

Total Competitive QSR UnitsAverage Distance in MilesTotal Fast Food Square Footage

Total Parking Spaces

Maximum Fast Food Impact ScoreMinimum Fast Food Impact Score

Total Interior Seats

Average Distance Impact Score

QSR Brands and Chains

Competitive Impact Scores: QSR

Total Order Positions

Impact Scores: Fast Food

64

66

68

70

72

74

76

78

80

82

84

Wendy's McDonald's KFC

Brand: Operation: Map #: 1Location: Intersection: SouthwestType: Distance: 6.1

74.32,100 Building Size 2 # of Access Points 123 # of Brand Sign Facings BelowAvg Visibility 0.0555 # of Parking Spaces None Traffic Regulation88 # of Interior Seats Crossover Road Configuration

National Brand Recognition Average On Site MovementFull Brand Image Compliance 45 Posted SpeedOpen Drive Thru Service

Average Drive Thru StackingYes Pre‐Order Menu Board

Exterior Play AreaAverage Exterior MaintenanceBelowAvg Exterior Lighting

Average Interior Visibility Yes Employee UniformsAverage Interior Maintenance ATMAverage Interior Lighting Yes Credit Card/Debit

Average Interior Signage 24 HoursFountain Beverage Bar Interior Play Area

QSR Exterior

Competition Analysis: Fast Food

FranchiseWendy'sU.S. Highway 27 and Plumosa StreetQSR ‐ Burger

Distance Score

QSR Interior


Fast Food ScoreBrand Score

g yCoffee Bar Partial Menu Day Parts

Interior Restrooms

Date: 3/24/2014

Brand: Operation: Map #: 2Location: Intersection: NortheastType: Distance: 6.2

83.43,200 Building Size 2 # of Access Points 123 # of Brand Sign Facings BelowAvg Visibility 0.0542 # of Parking Spaces None Traffic Regulation72 # of Interior Seats Crossover Road Configuration

National Brand Recognition BelowAvg On Site MovementFull Brand Image Compliance 45 Posted SpeedOpen Drive Thru Service

BelowAvg Drive Thru StackingPre‐Order Menu BoardExterior Play Area

BelowAvg Exterior MaintenanceBelowAvg Exterior Lighting

Restricted Interior Visibility Yes Employee UniformsBelowAvg Interior Maintenance ATMBelowAvg Interior Lighting Yes Credit Card/Debit

Average Interior Signage 24 HoursSelf Serve Fountain Beverage Bar Interior Play Area

Distance Score


McDonald's FranchiseU.S. Highway 27 and Phoenix Street, Lake Placid

QSR Exterior

QSR Interior

QSR ‐ Burger



g yCoffee Bar Full Menu Day Parts

Interior Restrooms

Date: 3/24/2014

Brand: Operation: Map #: 3Location: Intersection: WestsideType: Distance: 6.3

71.52,800 Building Size 2 # of Access Points 123 # of Brand Sign Facings BelowAvg Visibility 0.0543 # of Parking Spaces None Traffic Regulation52 # of Interior Seats Divided Road Configuration

National Brand Recognition BelowAvg On Site MovementFull Brand Image Compliance 45 Posted SpeedYes Drive Thru Service

BelowAvg Drive Thru StackingPre‐Order Menu BoardExterior Play Area

BelowAvg Exterior MaintenanceBelowAvg Exterior Lighting

Average Interior Visibility Yes Employee UniformsBelowAvg Interior Maintenance ATMBelowAvg Interior Lighting Yes Credit Card/Debit

BelowAvg Interior Signage 24 HoursFountain Beverage Bar Interior Play Area

Distance Score


KFC FranchiseU.S. Highway 27 (north), Lake Placid

QSR Exterior

QSR Interior

QSR ‐ Chicken



g yCoffee Bar Partial Menu Day Parts

Interior Restrooms

Date: 3/24/2014

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Competition Map

2741 U.S. Highway нт SouthLake Placid, Florida 33852

= Gasoline/Diesel/Convenience Store = Foodservice

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Trade Area Map2‐, 3‐, and 5‐Mile Radii

2741 U.S. Highway 27 SouthLake Placid, Florida 33852

= Site= 3‐Minute Drive Time= 4‐Minute Drive Time= 5‐Minute Drive Time

Demand Report

Location:

2741 U.S. Highway 27 South

Lake Placid, Florida 33852

2 MILE

RING

12.56 SQ/MI

3 MILE

RING

28.27 SQ/MI

5 MILE

RING

78.53 SQ/MI

POPULATION TREND2010 Total Population 1,963 3,227 6,443

2013 Total Population 1,960 3,221 6,404


Population Change 2000 to 2010 3.4% 5.9% 8.7%


Population Change 2010 to 2018 ‐.4% ‐.1% ‐.7%

Population Change 2013 to 2018 ‐.2% .1% ‐.1%

2013 Total Daytime Population 1,661 2,658 5,404

2013 Total Employees 426 593 1,177

2013 Total Daytime at Home Population 1,236 2,065 4,226

2013 Total Employees (% of Daytime Pop) 25.6% 22.3% 21.8%

2013 Total Daytime at Home Population (% of Daytime Pop) 74.4% 77.7% 78.2%

DENSITY2013 Population Density 26 33 43

2013 Employee Density 6 6 8

HOUSEHOLDS TREND2010 Households 629 1,117 2,471

2013 Households 623 1,104 2,427

2018 Households 627 1,115 2,447

Household Change 2000 to 2010 4.3% 6.1% 9.6%


Household Change 2010 to 2018 ‐.3% ‐.2% ‐1.0%

Household Change 2013 to 2018 .6% 1.0% .8%

2013 Average Household Size 2.7 2.6 2.5

INCOME2010 Household income: Median $26,227 $29,922 $32,972

2010 Household income: Average $38,716 $45,018 $47,257

2013 Household income: Median $26,517 $30,685 $33,644




HOUSEHOLD VEHICLES2013 Households: Number of vehicles ‐ Aggregate 1,271 2,256 4,849

2013 Owner occupied: Number of vehicles ‐ Aggregate 998 1,812 3,917

2013 Renter occupied: Number of vehicles ‐ Aggregate 268 454 956

Demand Report

Location:



2 MILE

RING

12.56 SQ/MI

3 MILE

RING

28.27 SQ/MI

5 MILE

RING

78.53 SQ/MI

RACE & ETHNICITY% 2013 White alone 65.5% 68.1% 71.8%

% 2013 American Indian and Alaska Native alone .7% .6% .5%

% 2013 Asian alone .3% .3% .5%

% 2013 Native Hawaiian and OPI alone .0% .0% .0%

% 2013 Some Other Race alone 24.8% 21.5% 14.2%

% 2013 Two or More Races alone 3.2% 3.4% 2.9%

% 2013 Black or African American alone 5.6% 6.0% 10.1%

% 2013 Hispanic 45.5% 42.1% 30.9%

% 2013 Not Hispanic 54.6% 57.9% 69.1%

EDUCATION & OCCUPATION

Education% 2013 No High School Diploma 42.3% 38.5% 29.9%

% 2013 High school graduate, GED, or alternative 27.4% 27.6% 28.6%

% 2013 College No Degree 15.0% 17.5% 20.7%

% 2013 College Degree 11.6% 10.0% 13.6%

% 2013 Advanced Degree 3.6% 6.3% 7.2%

% 2013 College or Advanced Degree 15.2% 16.4% 20.8%

Occupation% 2010 Occupation: White collar 25.8% 31.4% 40.8%

% 2010 Occupation: Blue collar 74.2% 68.6% 59.2%

% 2013 Occupation: White collar 25.8% 31.3% 40.7%


AGE & OCCUPANCY

Age2013 Total population: Median age 40 42 47

2013 Male population: Median age 36 38 43

2013 Female population: Median age 47 49 52

Occupancy2013 Households 623 1,104 2,427

% 2013 Owner occupied housing units 75.1% 76.9% 77.2%

% 2013 Renter occupied housing units 24.9% 23.1% 22.8%

Demand Report

Location:



2 MILE

RING

12.56 SQ/MI

3 MILE

RING

28.27 SQ/MI

5 MILE

RING

78.53 SQ/MI

RETAIL SALES POTENTIAL2013 Convenience stores $580,089 $1,042,084 $2,324,637

2013 Gasoline stations with convenience stores $1,895,291 $3,444,181 $7,471,012

2013 Beer, wine, & liquor stores $142,730 $255,768 $544,334

2013 Supermarkets & other grocery (except convenience) sto $2,318,386 $4,196,872 $8,912,138

2013 Restaurant Expenditures $695,894 $1,278,161 $2,639,620

HOUSEHOLD EXPENDITURES

Automotive2013 Gasoline (Household Average) $2,084 $2,140 $2,079

2013 Diesel fuel (Household Average) $27 $27 $31

2013 Gasoline on out‐of‐town trips (Household Average) $92 $99 $104

2013 Motor oil (Household Average) $12 $12 $11

2013 Lube, oil change, and oil filters (Household Average) $75 $78 $77

2013 Maintenance and repairs (Household Average) $733 $751 $743

Food/Alcohol/Tobacco2013 Food at home $2,125,887 $3,869,697 $8,251,371

2013 Food at home (Household Average) $3,412 $3,505 $3,400

2013 Food away from home (Household Average) $2,613 $2,691 $2,610

2013 Meals at restaurants carry outs (Household Average) $2,060 $2,113 $2,058

2013 Alcoholic beverages $253,749 $463,601 $1,004,576

2013 Alcoholic beverages (Household Average) $407 $420 $414

2013 At home (Household Average) $229 $232 $224

2013 Away from home (Household Average) $178 $188 $190

2013 Beer and ale (at home) $50,560 $87,473 $202,389

2013 Beer and ale (Household Average) $81 $79 $83

2013 Wine (at home) $21,444 $35,012 $81,767

2013 Wine (Household Average) $86 $92 $89

2013 Other alcoholic beverages $17,516 $26,188 $51,616

2013 Other alcoholic beverages (Household Average) $28 $24 $21

2013 Tobacco products and smoking supplies $197,173 $361,044 $776,220

2013 Tobacco products and smoking supplies (Household Ave $316 $327 $320

2013 Cigarettes $180,011 $330,821 $715,119

2013 Cigarettes (Household Average) $289 $300 $295

2013 Other tobacco products $16,436 $28,626 $57,722

2013 Other tobacco products (Household Average) $26 $26 $24

2013 Smoking accessories $725 $1,598 $3,379

2013 Smoking accessories (Household Average) $1 $1 $1

Demand Report

Location:



3 MINUTE

DRIVE TIME

5.63 SQ/MI

4 MINUTE

DRIVE TIME

9.05 SQ/MI

5 MINUTE

DRIVE TIME

13.66 SQ/MI

POPULATION TREND2010 Total Population 1,210 1,487 2,104



Population Change 2000 to 2010 .2% 1.1% 4.3%

Population Change 2000 to 2013 .1% .9% 4.2%



2013 Total Daytime Population 1,061 1,297 1,759

2013 Total Employees 310 368 433

2013 Total Daytime at Home Population 752 929 1,327

2013 Total Employees (% of Daytime Pop) 29.2% 28.4% 24.6%

2013 Total Daytime at Home Population (% of Daytime Pop) 70.9% 71.6% 75.4%

DENSITY2013 Population Density 20 22 27

2013 Employee Density 5 5 6

HOUSEHOLDS TREND2010 Households 387 467 690

2013 Households 384 463 684

2018 Households 385 464 689



Household Change 2010 to 2018 ‐.5% ‐.6% ‐.1%

Household Change 2013 to 2018 .3% .2% .7%

2013 Average Household Size 2.7 2.7 2.7

INCOME2010 Household income: Median $22,897 $23,883 $27,538






HOUSEHOLD VEHICLES2013 Households: Number of vehicles ‐ Aggregate 785 950 1,395

2013 Owner occupied: Number of vehicles ‐ Aggregate 600 729 1,106

2013 Renter occupied: Number of vehicles ‐ Aggregate 174 212 288

Demand Report

Location:



3 MINUTE

DRIVE TIME

5.63 SQ/MI

4 MINUTE

DRIVE TIME

9.05 SQ/MI

5 MINUTE

DRIVE TIME

13.66 SQ/MI

RACE & ETHNICITY% 2013 White alone 63.4% 64.1% 65.8%

% 2013 American Indian and Alaska Native alone .7% .7% .6%

% 2013 Asian alone .2% .2% .2%

% 2013 Native Hawaiian and OPI alone .0% .0% .0%

% 2013 Some Other Race alone 27.5% 27.4% 23.9%

% 2013 Two or More Races alone 3.0% 2.8% 3.4%

% 2013 Black or African American alone 5.2% 4.8% 5.9%

% 2013 Hispanic 47.6% 47.5% 44.9%

% 2013 Not Hispanic 52.4% 52.5% 55.1%

EDUCATION & OCCUPATION

Education% 2013 No High School Diploma 45.2% 46.5% 40.8%

% 2013 High school graduate, GED, or alternative 26.9% 26.8% 27.6%

% 2013 College No Degree 12.9% 12.7% 15.8%

% 2013 College Degree 14.3% 12.7% 11.3%

% 2013 Advanced Degree .7% 1.5% 4.4%

% 2013 College or Advanced Degree 15.0% 14.2% 15.7%

Occupation% 2010 Occupation: White collar 20.0% 20.8% 27.7%


% 2013 Occupation: White collar 19.8% 20.6% 27.6%


AGE & OCCUPANCY

Age2013 Total population: Median age 38 39 40



Occupancy2013 Households 384 463 684

% 2013 Owner occupied housing units 73.6% 74.7% 75.5%

% 2013 Renter occupied housing units 26.4% 25.3% 24.5%

Demand Report

Location:



3 MINUTE

DRIVE TIME

5.63 SQ/MI

4 MINUTE

DRIVE TIME

9.05 SQ/MI

5 MINUTE

DRIVE TIME

13.66 SQ/MI

RETAIL SALES POTENTIAL2013 Convenience stores $352,917 $423,597 $642,336

2013 Gasoline stations with convenience stores $1,139,929 $1,368,437 $2,112,785

2013 Beer, wine, & liquor stores $86,326 $105,727 $156,104

2013 Supermarkets & other grocery (except convenience) sto $1,399,316 $1,683,016 $2,577,390

2013 Restaurant Expenditures $411,346 $501,337 $774,601

HOUSEHOLD EXPENDITURES

Automotive2013 Gasoline (Household Average) $2,031 $2,021 $2,119

2013 Diesel fuel (Household Average) $27 $27 $27

2013 Gasoline on out‐of‐town trips (Household Average) $85 $86 $96

2013 Motor oil (Household Average) $13 $12 $12

2013 Lube, oil change, and oil filters (Household Average) $72 $72 $77

2013 Maintenance and repairs (Household Average) $714 $714 $742

Food/Alcohol/Tobacco2013 Food at home $1,275,059 $1,537,597 $2,368,162

2013 Food at home (Household Average) $3,320 $3,321 $3,462

2013 Food away from home (Household Average) $2,528 $2,547 $2,645

2013 Meals at restaurants carry outs (Household Average) $2,003 $2,010 $2,084

2013 Alcoholic beverages $149,997 $185,110 $279,553

2013 Alcoholic beverages (Household Average) $391 $400 $409

2013 At home (Household Average) $225 $228 $228

2013 Away from home (Household Average) $166 $171 $180

2013 Beer and ale (at home) $31,974 $38,277 $54,918

2013 Beer and ale (Household Average) $83 $83 $80

2013 Wine (at home) $14,276 $16,698 $22,714

2013 Wine (Household Average) $79 $82 $88

2013 Other alcoholic beverages $12,625 $14,330 $18,111

2013 Other alcoholic beverages (Household Average) $33 $31 $26

2013 Tobacco products and smoking supplies $117,120 $142,604 $219,302

2013 Tobacco products and smoking supplies (Household Ave $305 $308 $321

2013 Cigarettes $106,384 $130,104 $200,244

2013 Cigarettes (Household Average) $277 $281 $293

2013 Other tobacco products $10,402 $12,075 $18,170

2013 Other tobacco products (Household Average) $27 $26 $27

2013 Smoking accessories $333 $425 $888

2013 Smoking accessories (Household Average) $1 $1 $1

Full Demographic Report

Location:



2 MILE

RING

12.56 SQ/MI

3 MILE

RING

28.27 SQ/MI

5 MILE

RING

78.53 SQ/MI

POPULATION OVERVIEW

Population Trend2000 Total Population 1,899 3,046 5,930







Population Change 2013 to 2018 ‐.2% .1% ‐.1%

2013 Race and EthnicityWhite alone 65.5% 68.1% 71.8%

Black or African American alone 5.6% 6.0% 10.1%

Asian alone .3% .3% .5%

Other Race 28.7% 25.6% 17.6%

Hispanic or LatinoHispanic 45.5% 42.1% 30.9%

Not Hispanic 54.6% 57.9% 69.1%

Age Trend2013 Median Age 40.1 42.3 47.3



2013 Total population: Median age 41 44 49

19 and Under 23.6% 23.0% 21.9%

20 to 29 14.8% 13.5% 11.0%

30 to 39 11.4% 10.7% 9.4%

40 to 49 11.6% 11.4% 10.6%

50 to 64 15.6% 16.6% 18.5%

65 and Over 23.0% 24.8% 28.6%

Male Population% 2013 Male population: Under 5 years 3.4% 3.2% 3.0%

% 2013 Male population: 5 to 9 years 2.6% 2.6% 2.6%











Location:



2 MILE

RING

12.56 SQ/MI

3 MILE

RING

28.27 SQ/MI

5 MILE

RING

78.53 SQ/MI% 2013 Male population: 55 to 59 years 2.9% 2.8% 2.9%






% 2013 Male population: 85 years and over 1.0% 1.0% 1.2%

Female Population% 2013 Female population: Under 5 years 2.5% 2.4% 2.6%

% 2013 Female population: 5 to 9 years 1.9% 2.0% 2.1%
















% 2013 Female population: 85 years and over 1.8% 2.1% 2.5%

HOUSEHOLD OVERVIEW

Household Trend2000 Households 603 1,053 2,255

2010 Households 629 1,117 2,471

2013 Households 623 1,104 2,427

2018 Households 627 1,115 2,447



Household Change 2010 to 2018 ‐.3% ‐.2% ‐1.0%

Household Change 2013 to 2018 .6% 1.0% .8%

2013 Household SizeAverage Household Size 2.7 2.6 2.5

% Family Households 63.9% 65.2% 65.3%

% Nonfamily households 36.1% 34.8% 34.7%


Location:



2 MILE

RING

12.56 SQ/MI

3 MILE

RING

28.27 SQ/MI

5 MILE

RING

78.53 SQ/MI

Household Income Trend2000 Median Income $28,544 $28,459 $29,178

2010 Median Income $26,227 $29,922 $32,972

2013 Median Income $26,517 $30,685 $33,644

2018 Median Income $30,689 $41,581 $43,749

Median Income Change 2000 to 2010 ‐8.1% 5.1% 13.0%

Median Income Change 2000 to 2013 ‐7.1% 7.8% 15.3%

Median Income Change 2010 to 2018 17.0% 39.0% 32.7%

Median Income Change 2013 to 2018 15.7% 35.5% 30.0%





2013 Household Incomeup to $24,999 47.4% 40.9% 37.1%

$25,000 to $49,999 30.8% 31.3% 29.7%

$50,000 to $74,999 12.2% 14.4% 18.2%

$75,000 to $124,999 6.4% 8.3% 8.8%

$125,000 to $199,999 2.2% 2.8% 3.7%

$200,000 or more 1.1% 2.4% 2.6%

HOUSING UNITS OVERVIEW

2013 Home ValueMedian Home Value $89,576 $119,565 $128,226

Average Home Value $143,123 $155,842 $176,793

2013 OccupancyHouseholds 623 1,104 2,427

Owner Occupied 75.1% 76.9% 77.2%

Renter Occupied 24.9% 23.1% 22.8%

Occupancy by Number of Units1 Unit, Detached 50.4% 60.0% 65.3%

1 Unit, Attached 4.8% 3.8% 4.1%

2 to 9 4.3% 3.1% 7.2%

10 to 49 .0% .0% .2%

50 or more Units .0% .0% .0%

Mobile Home 38.0% 30.9% 21.6%

Boat, RV, Van, etc. 2.5% 2.2% 1.6%


Location:



2 MILE

RING

12.56 SQ/MI

3 MILE

RING

28.27 SQ/MI

5 MILE

RING

78.53 SQ/MI

2013 OccupationCivilian employed population 16 years and over 788 1,275 2,374

White collar 25.8% 31.3% 40.7%

Blue collar 74.4% 68.6% 59.2%

2013 Educational AttainmentPopulation 25 years and over 1,327 2,232 4,619

No High School Diploma 42.3% 38.5% 29.9%

High school graduate, GED, or alternative 27.4% 27.6% 28.6%

College No Degree 15.0% 17.5% 20.7%

College or Advanced Degree 15.2% 16.4% 20.8%

2013 Marital StatusPopulation 15 years and over 1,641 2,711 5,401

Married 51.1% 53.3% 55.2%

Not Married 48.9% 46.7% 44.8%

Average Travel Time to Work Trend2000 Travel time: Average (in minutes) 32 31 29

2010 Travel time: Average (in minutes) 46 39 33

2013 Travel time: Average (in minutes) 46 39 33

Work at Home Trend% 2000 Workers 16+ years who work at home 3.9% 3.8% 3.0%

% 2010 Workers 16+ years who work at home

% 2013 Workers 16+ years who work at home 7.4% 8.5% 7.2%

Did Not Work at Home Trend% 2000 Workers 16+ years who did not work at h 96.4% 96.4% 97.1%

% 2010 Workers 16+ years who did not work at h 92.6% 91.4% 92.7%

% 2013 Workers 16+ years who did not work at h 92.6% 91.5% 92.8%

Mode of Transportation to WorkCar, truck, or van ‐ Drove alone 37.9% 47.2% 58.6%

The contents of this study, including all projections, are based on information furnished by the client, customer and data collected by IMST in the field, and from other sources. IMST does not warrant that there have been no material changes in the data since generation, including merchantability and fitness for a particular purpose with regard to the study and all underlying data and analysis. IMST makes reasonable efforts to obtain all data for the study; however, market conditions are subject to change and these changes may significantly alter actual sales. The completed study is not intended to provide a guarantee of actual business performance. It is our understanding that the studied site has been thoroughly tested regarding potential contamination and no problems now exist that create negative environmental conditions. If you should have any questions regarding this information, please call us at 281.398.0321.

Presented by:

IMST Corp. 16360 Park Ten Place Drive, Suite 102 Houston, TX 77084 Phone: 281.398.0321 FAX: 281.825.4179 Email: [email protected] Website: www.imstcorp.com

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