SUPERMARKET FEASIBILITY STUDY AT MILL RUN IN HILLIARD, OHIO

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1 SUPERMARKET FEASIBILITY STUDY AT MILL RUN IN HILLIARD, OHIO Prepared for: March Orchard Lake Road, Suite 105 Sylvan Lake, MI ph: fax:

2 Definition of Terms Leakage. The difference between the total expenditure potential and the actual identified sales from the sector or trade area. This unidentified sales potential is due to the presence of convenience stores, warehouse club stores, discount department stores perishable (meat and/or produce) stores or stores too small to be included in the gravity model. Additional leakage may also be attributable to expenditure potential spent outside of the defined trade area. Market Share. The percentage of the store s sales that comes from the identified sector or trade area. PCE. Per capita expenditure potential. This the average amount spent for the purchase of supermarket-compatible items. Included in the PCE is the amount spent for meat, produce, dairy, frozen food and grocery (food and non-food) items in a typical supermarket. While a percentage of general merchandise and health and beauty aid items are included in the PCE, items such as pharmaceuticals and gasoline are not included in the PCE. The potential also reflects and beer, wine and liquor sales that are permitted at supermarkets in the area. Power. Power is the relative acceptance of the store s concept in the marketplace. Generally, the power is related to the store s performance (sales per square foot) and the ability of the store to capture sales over distance. The higher the power the better the acceptance of the store s operation in the marketplace, or the store s ability to capture stronger market shares in the marketplace. The lower the power, the less apt the store is to capture strong market shares in the market. The average of all the stores power in any given marketplace is 100. PWTA. (Percent of sales within the trade area.) This refers to the percentage of the sales that are captured from the population base within the defined trade area. Stores in the center of the trade area will typically have a higher PWTA than those on the periphery of the trade area, unless there is unusually higher sales to a daytime population base, or to a tourist base that is not included in the model s population base. Page 1 Jeff Hershey Consulting, LLC

3 INTRODUCTION Background. The Mill Run Owner s Association (MROA) has asked The Strategic Edge to conduct a supermarket feasibility analysis for a proposed Specialty Food Market site in Hilliard, Ohio. The site is located in the Mill Run, a 350-acre mixed-use development. The Mill Run is one of Ohio s largest mixed-use developments including: Over 600,000 square feet of office space (75% leased). Strong adjacent retail support including Garden Ridge, Lowe s Home Improvement Center and Floor n Decor. The Movie Tavern with a monthly attendance of over 28,000 people. Located conveniently near Interstate 270 and between the communities of Hilliard, Dublin and Upper Arlington. The site in question is 3700 Fishinger Boulevard, a 100,000 square foot anchor of the Market at Mill Run, previously operated as Big Bear Supermarket. The following map details the exact location of the site: Page 2 Jeff Hershey Consulting, LLC

4 Methodology. The following methodology was employed to forecast sales for the proposed site: A detailed field evaluation of the identified market was conducted the week of March 12, As part of this evaluation, all existing and proposed supermarkets and specialty food stores were identified and evaluated. We also identified all major nutritional stores in and near the defined study area. In identifying and evaluating supermarkets, we centered our efforts on stores of over 5,000 square feet (sales area). Population, demographic and other relevant data estimates were obtained from a variety of local and national sources. The population data was updated to reflect the most current United States Census figures. It is our opinion that these data provide sufficiently reliable estimates from which to accurately forecast sales. The SitePlus sales forecasting program was used to develop a realistic model of the study area and to forecast sales for a proposed supermarket at the defined location. Finally, the necessary tables, maps and other exhibits were incorporated into this text. Assumptions. Any market study such as this utilizes not only empirical data, but also field observations and qualitative judgments. It is important to recognize that certain of these study inputs need qualification. Therefore, as part of this analysis, the following assumptions were made: All population, demographic and lifestyle data is assumed to be correct and accurately portrays the defined study area and specialty market customer base. The economic conditions will remain stable and household growth will continue as projected. The Specialty Market consumer lifestyle, as determined, accurately reflects the typical customer that will shop a specialty market unit at the identified location. This lifestyle has been developed based on actual customer spottings of consumers shopping Sprouts Farmers Markets, Henry s Marketplace units and Sunflower Markets. The site will be developed as proposed in the Site and Market Characteristics section of this report. In particular, the site will have 35,000 gross square feet, of which approximately 26,250 square feet will be sales area. The proposed Specialty Market will offer a strong variety of produce, bulk foods, nutritional supplements and natural and specialty foods. The unit will also offer Page 3 Jeff Hershey Consulting, LLC

5 service deli and meats, as well as self-serve cheese, meat, dairy, and bakery. Specialty beer and an expanded variety of wine will also be available. The new Specialty Market will be well advertised throughout the defined trade area noting the variety and pricing of items available at the units. Further, it will continue to be well advertised with aggressive pricing until well established in the market. The proposed Specialty Market unit will obtain and maintain strong produce prices and quality images, as well as strong prices and variety images for nutritional supplements. Maturity of the proposed unit is assumed to be as follows: Year 1 85% of mature-year sales. Year 2 93% of mature-year sales. Year 3 mature-year sales. Following are the new competitive changes assumed in our forecasts: The Whole Foods (Map Key 50) located at 1649 Lane in Upper Arlington will be relocated to the Lane Center to a new 45,000 gross square foot facility with strong perishables, service meat and seafood, expanded wine and beer selection and expanded deli and foods-to-go found in their latest prototype. The Kroger at 1955 Henderson (Map Key 23) will finish the remodel currently under way. The unit is updating with a new décor package and new cases, however, no new departments will be added. Giant Eagle will open a new unit at Cemetery and Britton Road. The unit is currently awaiting final approval for development, but according to local officials, it will be approved and could begin construction as early as this summer. Any changes not noted may impact the forecasted sales and the performance of the proposed units. Page 4 Jeff Hershey Consulting, LLC

6 EXECUTIVE SUMMARY Conclusions 1. The following table details the forecasted weekly sales for the identified Specialty Market site in Hilliard, Ohio: Scenario 3700 Fishinger Blvd Hilliard, Ohio (35,000 gsf/26,250 ssf) 1st Year Avg. Sales * 2nd Year Avg. Sales * Mature-Year Sales * $242,999 $265,870 $285,882 * Sales stated in constant (current) dollars. No adjustment has been made for potential inflation. First- and second- year sales represent 85% and 93% of mature-year sales. Assumes a January 2013 opening date. Rationale. The following is the rationale for the sales forecast: The site is well positioned to serve a good and growing trade area base of over 151,600 persons. Persons per household are much lower than average at 2.32, and home ownership is reported as 62%. Population density near the site (one-mile radius), however, is low, with less than 6,000 persons. Trade area household incomes and per capita incomes in the market are very good, with a median household income of $71,734 and per capita incomes of $35,586, both slightly higher than optimal for the format. A reported 66% of the household base report incomes of $75,000 or higher. The trade area is primarily white (84%), with no other sizeable racial base noted. The median age is reported as 34.9 years, which is near the national average, however, the median age to the east in Upper Arlington is much older (45.9 years). Also, the trade area has above average education levels with 57% of those age 25 years and older having a college degree and 79% employed in white-collar occupations, both important for the format. The Specialty Market lifestyles found favorable for Specialty Market location are slightly above average (percentage-wise) with 11% of the household base. The number of households identified with the Specialty Market lifestyle, however, is also slightly higher than average at 7,722. The site has good overall characteristics, with the location having good regional access provided by Interstate 270 and easy local access provided by Fishinger. Other site characteristics such as local visibility, parking and ingress/egress are 1 The conclusions expressed in this report are based upon analysis of the present facts and circumstances. To the extent that the data or circumstances change or new assumptions are warranted, then a reevaluation should be undertaken. The likelihood of change occurring increases with time. Page 5 Jeff Hershey Consulting, LLC

7 also good, although the site does not have visibility from the interstate. Traffic counts in the area are good for the format (nearly 19,000 cars/day at the site and over 105,000/day in Interstate 270). The natural boundaries in the area (Interstate 270 and Scioto River) will limit the projected stores potential to attract sales from either west of the interstate or east of the river, however, the barriers will also keep the population density in between the two barriers from crossing over to shop at competitors and enabling the unit to attract larger than normal market shares from this area. Specialty food store competition to the site is strong to the east with a Fresh Market, Whole Foods and Giant Eagle Market District all serving the Upper Arlington population base. Additionally, Trader Joe s and Whole Foods operate units northeast of the site at Saw Mill Road and Route 161. This competitive environment will increase with the on-site relocation/expansion of the Whole Foods unit. Additionally, the competitive nature of the market west of the interstate is also increasing with a new Giant Eagle to be located one mile west of the site at Cemetery and Britton Roads. Finally, the site is well positioned to serve a strong close-in daytime employment base. There are a reported 12,574 employees found within a five-minute drive of the site, growing to 36,191 within a seven-minute drive and 115,314 within a tenminute drive. As such, the proposed unit should offer an expanded variety of foods-to-go and a soup/salad bar to help attract this customer base. Page 6 Jeff Hershey Consulting, LLC

8 SITE AND MARKET CHARACTERISTICS Background. The Mill Run Owner s Association (MROA) has asked The Strategic Edge to conduct a supermarket feasibility analysis for a proposed Specialty Market site in Hilliard, Ohio. The site is located in the Mill Run, a 350-acre mixed-use development. The Mill Run is one of Ohio s largest mixed-use developments including: Over 600,000 square feet of office space (75% leased). Strong adjacent retail support including Garden Ridge, Lowe s Home Improvement Center and Floor n Decor. The Movie Tavern with a monthly attendance of over 28,000 people. Located conveniently near Interstate 270 and between the communities of Hilliard, Dublin and Upper Arlington. The site in question is 3700 Fishinger Boulevard, a 100,000 square foot anchor of the Market at Mill Run, previously operated as Big Bear Supermarket. The following map details the exact location of the site: Page 7 Jeff Hershey Consulting, LLC

9 Access: The site has good local access (east and west) as provided by Fishinger Boulevard, a primary connector route from Hilliard and Upper Arlington. North/south access at the site is provided by Interstate 270 (regional) and indirectly via Dublin Road to the east and Britton Road to the west. Traffic counts in the area are good, with a reported 18,697 cars/day at the site growing to 23,412 cars/day just west of the interstate. Traffic volumes are reported as 105,060 cars/day on Interstate 270 at Fishinger Boulevard/Cemetery Road. The following map shows the area traffic counts as reported by the Ohio Department of Transportation and the year of the counts: Visibility: The site has very good visibility from Fishinger Boulevard, however, limited visibility from the north/south route of traffic including Interstate 270. Ingress/Egress and Parking: Ingress/egress to the site is provided primarily from Fishinger Boulevard with an unsignaled point of ingress/egress in front of the site as well as from a signaled point of ingress/egress from Mill Run Drive. Parking is more than adequate for the use. Adjacent Retail Support: The site s location in the Market at Mill Run has adjacent retail support from several gyms, including Aussie Fitness, and Movie Tavern. Additionally, Garden Ridge, Lowe s and Floor n Décor is located across the street from the site strengthening the retail hub. Page 8 Jeff Hershey Consulting, LLC

10 Trade Area. The defined trade area for the Hilliard site extends north to US Highway 33 (west of the Scioto River) and Henderson Road (east of the Scioto River), east to State Highway 315, south to Interstate 70 and west to Alton and Darby Creek Road and the Franklin County boundaries. It is defined by block group boundaries, supermarket competition and retail gravitation in the area. Please refer to the following map for the location of the study area boundaries, as well as the competitive map found in the appendix: The estimated current population (less group quarters) of the study area is 151,641 persons. Local and national estimates indicate a stable population base with an annual increase of 1% in the population by 2017 to 158,762 persons. Growth in the Cities of Hilliard and Dublin is stronger than the total trade area, with an annual projected growth of 1.3% annually through By radius, there are 5,938 persons within one mile, growing to 26,619 within two miles and 77,619 within three miles. This base is projected to be stable (less than 1% annual growth) through 2017 at one- and two-mile radii and increase 0.6% annually three miles from the site. Page 9 Jeff Hershey Consulting, LLC

11 Average persons per household in the trade area is reported as 2.32 persons, dropping slightly to 2.26 at one mile, then increasing to 2.44 at two and three miles from the site. The City of Hilliard has a reported household size of 2.77 and Dublin is reported as Most (55%) of the household base is owner-occupied in the trade area and the median age of the trade area is reported as 34.9 years. The trade area is primarily white (84%), 3% African American and 9% Asian. Hispanic ethnicity is reported as 5%. The trade area has strong education levels with 57% of those age 25 years and older holding a college degree. Additionally, 79% of those employed are in white-collar occupations, which is above average. Most (20%) are employed in managerial and professional positions. The trade area reports good income levels, with a median household income of $71,734. The strongest incomes are found in Upper Arlington; however, the median household income reported for the City of Dublin ($106,868) is stronger than reported for the City of Upper Arlington ($78,701). Per capita incomes for the study area are also strong, reported as $35,586. Of the total household base, 45% (24,528) report incomes of $75,000 or higher. Close-in to the site (one-mile radius) median household and per capita incomes are reported as $ and $38,719, similar to that of the trade area. Incomes are consistent throughout the three-mile radius. The average per capita weekly food store expenditure for the study area is $49.30, resulting in a total study area weekly food potential of $7,475,234. Of this potential, $1,035,234 or 13.9% is leakage to mom and pop convenience stores, warehouse club stores, small perishable and ethnic stores, or other food stores not included in the model. The following table details the trade area s population and demographics as well as those of the City of Hilliard, Dublin and Upper Arlington: Demographic Characteristic Defined Trade Area City of Hilliard Dublin Upper Arlington Current Population 151,641 29,061 30,822 33, Population 158,762 31,008 32,879 33,541 % Annual Population Growth 0.9% 1.3% 1.3% 0.2% Household Size Median Household Income $71,734 $81,543 $106,868 $78,701 Per Capita Income $35,586 $33,669 $46,521 $43,472 % White 84% 88% 82% 91% Page 10 Jeff Hershey Consulting, LLC

12 Demographic Characteristic Defined Trade Area City of Hilliard Dublin Upper Arlington % African American 3% 2% 3% 1% % Asian 9% 6% 13% 6% % Hispanic 5% 5% 3% 3% % College Educated 57% 48% 66% 72% % Owner-Occupied Housing 55% 68% 62% 72% % White-Collar Employed 79% 75% 85% 89% Please refer to Appendix 1 for detailed population and demographic profiles for the defined study area. Specialty Market Lifestyles. Using our in-house database, a specialty-food lifestyle has been determined that represents consumers who would likely shop a Specialty Market in the defined greater Hilliard study area. The entire trade area offers 7,722 households with the identified lifestyle, or 11% of the total 72,018 households available. The percentage of specialty market households is just above average for a Specialty Market. Please refer to the competitive map in Appendix 2 for a visual depiction of the presence of the specialty-food lifestyle. Daytime Employment Base. In addition to the area s population base, the site is well positioned to capture sales from the close-in employment base. There are a reported 12,574 employees found within a five-minute drive of the site, growing to 36,191 within a seven-minute drive and 115,314 within a ten-minute drive. Close-in (five-minute drive time) 32% of the base are employed in retail positions followed closely by those employed in service positions. At ten-minutes from the site, the base is similar (31% retail and 33% service employees) due to the strong retail employment base at the Tuttle Crossing Mall just north of the site. Competition. All major supermarkets and specialty food stores of over 5,000 square feet (sales area) in and adjacent to, the study area were evaluated. For a detailed list of the competition and departments offered, please refer to the Competition Details section of the Appendices. A map of competitors and their locations is also located in Appendix 2. The following table represents the major food store chains in the defined Hilliard study area: Page 11 Jeff Hershey Consulting, LLC

13 Ave Number Total Total Ave. Ave. Sales Average Market Chain Name Stores Sales S Area Sales S Area /Sq.Ft. Power % Giant Eagle 5 3,555, , ,000 56, Kroger 7 3,855, , ,714 55, Hoffman's Mkt 1 80,000 6,900 80,000 6, Fresh Market 1 125,000 14, ,000 14, Whole Foods 1 245,000 9, ,000 9, Wal Mart 3 1,375, , ,333 46, Meijer 1 675,000 41, ,000 41, Totals 19 9,910, , Averages 521,579 46, Specialty market competition to the proposed Specialty Market is primarily located east of the site in Upper Arlington. Upper Arlington offers a small Whole Foods, a Fresh Market and a Giant Eagle Market District with expanded perishables and service departments. The Whole Foods currently has a replacement unit under construction in the same center as the existing unit which will upgrade the facilities from a small facility to a prototype facility that will enable the chain to offer a better and expanded variety of products and service department to better compete with the Giant Eagle Market District. Conventional supermarkets in the area are primarily Kroger units and Giant Eagle units, both of which offer large facilities (average sales area of 55,158 to 56,350 square feet) and typically have service meats and seafood, salad bars, soup, sushi, cafes/seating areas, pharmacies and floral departments. Some of the units also offer gas and state liquor departments, however, these sales (as well as pharmacy sales) have been excluded from our reported sales. Overall, Kroger has a 32% market share and Giant Eagle captures 33% of the market. Giant Eagle also has a new unit proposed to be built at the intersection of Cemetery Road and Britton Road just one mile west of the site that will hinder the site s potential to attract sales from west of the Interstate. Supercenter competition to the site is offered from three Wal-Marts and a Meijer. The Wal-Mart units offer bakeries and deli departments, but no service meats or seafood. Their performance is less than average for the chain, with average food-compatible sales of $458,333. The Meijer unit has service meats and seafood, albeit a small department. Alone, it captures a 5% share of the defined trade area. Page 12 Jeff Hershey Consulting, LLC

14 APPENDIX 1 Population and Demographic Reports

15 POPULATION, HOUSEHOLDS AND INCOME TABLE - Hilliard, Ohio Est 2012 Proj 2017 % Annual Est 2012 Spec Mkt % Spec Mkt % Owner Persons Avg Hhold Med Hhold Per-Capita % Hholds Sector Population Population Growth Hholds Hholds Mkt Hholds Occupied Per Hhold Income Income Income $75, ,178 1, % % 26% 2.17 $44,299 $28,478 $20,457 17% ,288 1, % % 13% 1.47 $41,327 $32,404 $28,204 9% % % 31% 1.54 $72,603 $55,401 $47,241 39% % % 14% 1.49 $57,425 $44,396 $38,042 22% % % 7% 1.44 $56,825 $40,213 $39,370 10% % % 5% 1.40 $53,802 $43,657 $38,380 28% % % 2% 1.33 $39,508 $34,050 $29,779 10% % % 28% 1.51 $60,923 $53,944 $40,290 24% ,051 2, % 1, % 18% 1.49 $65,899 $54,870 $44,147 28% % % 9% 2.28 $46,155 $33,680 $20,286 19% ,759 1, % % 60% 2.29 $88,147 $73,865 $38,436 49% % % 91% 3.42 $155,071 $136,168 $45,387 85% ,745 2, % 1, % 31% 1.97 $77,139 $66,596 $39,117 40% ,287 1, % % 85% 2.23 $97,723 $77,571 $43,812 52% % % 79% 2.37 $76,416 $56,086 $32,183 32% ,962 7, % 3, % 41% 2.23 $78,329 $64,533 $35,052 42% ,638 2, % 1, % 32% 2.15 $91,101 $77,583 $42,408 53% ,320 1, % % 90% 2.92 $131,739 $129,035 $45,111 73% % % 89% 2.32 $79,873 $71,191 $34,422 46% % % 82% 2.20 $92,886 $70,906 $42,212 47% ,052 1, % % 80% 2.35 $125,548 $98,444 $53,465 63% % % 75% 1.87 $87,945 $73,135 $43,337 49% ,324 1, % % 85% 2.60 $141,010 $128,963 $54,317 69% ,016 1, % % 83% 2.31 $99,386 $72,641 $42,944 48% ,089 1, % % 89% 2.72 $126,819 $97,297 $46,698 59% ,205 1, % % 65% 1.94 $97,832 $73,032 $50,337 48% ,071 1, % % 81% 2.19 $75,405 $66,670 $34,358 40% % % 73% 2.35 $78,313 $61,987 $33,360 40% % % 79% 2.25 $78,430 $73,791 $34,831 49% % % 77% 2.24 $67,201 $60,897 $30,011 36% % % 80% 2.32 $74,512 $74,751 $32,174 50% % % 80% 2.12 $75,596 $62,775 $35,698 36% % % 78% 2.35 $87,924 $82,603 $37,365 62% ,088 1, % % 77% 2.34 $77,574 $69,139 $32,140 44% ,859 1, % % 83% 2.55 $163,181 $119,983 $64,078 68% ,236 1, % % 51% 2.33 $77,864 $63,598 $33,388 42% % % 88% 2.72 $169,081 $116,902 $62,193 67% ,024 1, % % 40% 2.05 $99,391 $65,550 $48,433 44% % % 81% 1.95 $82,328 $65,070 $42,237 42% % % 76% 2.29 $68,105 $65,516 $29,695 40% ,018 1, % % 88% 2.63 $95,181 $100,243 $36,184 60%

16 POPULATION, HOUSEHOLDS AND INCOME TABLE - Hilliard, Ohio Est 2012 Proj 2017 % Annual Est 2012 Spec Mkt % Spec Mkt % Owner Persons Avg Hhold Med Hhold Per-Capita % Hholds Sector Population Population Growth Hholds Hholds Mkt Hholds Occupied Per Hhold Income Income Income $75, ,045 1, % % 91% 2.93 $137,447 $110,707 $46,956 72% % % 17% 2.05 $71,218 $65,058 $34,723 41% % % 32% 2.22 $60,965 $53,321 $27,503 26% % % 81% 2.80 $108,151 $86,288 $38,634 57% % % 65% 2.46 $96,923 $72,235 $39,430 48% % % 88% 2.72 $141,671 $115,891 $52,126 68% % % 75% 2.59 $198,670 $125,729 $76,739 75% ,361 1, % % 60% 2.33 $108,172 $105,487 $46,416 71% ,394 1, % % 68% 2.41 $105,122 $87,801 $43,663 58% % % 44% 1.99 $96,812 $75,000 $42,890 50% % % 86% 2.09 $83,033 $72,427 $39,640 47% % % 90% 2.16 $85,708 $78,858 $39,596 58% % % 84% 2.11 $68,602 $63,116 $32,537 41% % % 20% 1.58 $62,178 $49,200 $39,437 27% % % 60% 1.71 $59,890 $47,491 $35,058 26% % % 85% 2.20 $80,047 $76,970 $36,364 55% % % 73% 1.97 $73,251 $60,918 $31,751 34% % % 88% 2.18 $99,762 $89,226 $45,840 62% ,252 1, % % 1% 2.29 $36,508 $30,369 $15,950 5% % % 3% 1.78 $30,282 $18,331 $17,040 7% ,060 1, % % 4% 2.00 $25,815 $14,528 $12,932 7% % % 7% 1.99 $30,546 $20,735 $15,332 3% % % 0% 2.91 $48,306 $42,658 $16,605 22% % % 73% 2.09 $76,053 $51,346 $36,190 24% ,050 2, % 1, % 8% 1.40 $34,639 $33,238 $24,805 4% ,468 1, % % 63% 2.63 $61,691 $53,387 $23,491 28% ,658 6, % 1, % 70% 3.03 $87,584 $80,023 $28,903 57% ,949 2, % % 91% 3.99 $153,829 $140,423 $38,517 94% ,838 2, % 1, % 45% 2.64 $76,107 $66,327 $28,882 41% ,200 2, % % 83% 2.77 $92,881 $84,225 $33,522 67% ,397 1, % % 58% 2.54 $65,968 $54,645 $26,019 31% % % 76% 2.52 $80,714 $84,444 $32,057 80% % % 77% 2.49 $59,143 $51,195 $23,747 25% ,004 6, % 2, % 50% 2.34 $80,930 $73,297 $34,189 49% ,211 4, % 1, % 85% 3.41 $117,794 $119,216 $34,574 78% ,066 1, % % 83% 2.55 $73,439 $67,680 $28,797 40% ,606 2, % % 83% 2.77 $84,439 $79,434 $30,458 60% ,273 4, % 1, % 83% 2.85 $80,686 $79,653 $28,286 63% ,900 3, % 1, % 53% 2.36 $78,846 $76,740 $33,414 53% ,159 8, % 3, % 58% 2.42 $76,876 $70,641 $31,734 46% ,226 4, % 2, % 28% 2.17 $60,515 $57,013 $27,923 27%

17 POPULATION, HOUSEHOLDS AND INCOME TABLE - Hilliard, Ohio Est 2012 Proj 2017 % Annual Est 2012 Spec Mkt % Spec Mkt % Owner Persons Avg Hhold Med Hhold Per-Capita % Hholds Sector Population Population Growth Hholds Hholds Mkt Hholds Occupied Per Hhold Income Income Income $75, % % 92% 2.55 $86,717 $73,279 $34,068 50% % % 100% 2.25 $106,250 $108,333 $47, % ,064 4, % 1, % 50% 2.90 $101,133 $88,454 $34,864 71% ,580 2, % % 89% 2.97 $119,556 $114,262 $40,223 85% ,043 2, % % 91% 3.26 $159,232 $157,108 $48,869 83% % % 84% 2.47 $156,540 $135,758 $63,258 84% ,078 1, % % 89% 2.55 $95,931 $80,773 $37,554 59% ,098 1, % % 90% 2.85 $147,093 $132,715 $51,576 77% ,245 2, % 1, % 43% 2.04 $66,684 $55,875 $31,610 36% ,121 3, % 1, % 80% 2.47 $101,920 $83,164 $41,278 59% ,572 1, % % 27% 2.07 $41,570 $29,874 $20,045 14% ,512 1, % % 58% 2.63 $81,751 $76,689 $31,035 54% ,034 2, % % 89% 2.53 $80,908 $79,193 $31,981 55% ,451 1, % % 29% 2.10 $60,135 $49,223 $28,679 22% ,165 1, % % 66% 1.98 $71,787 $57,924 $36,294 41% ,173 1, % % 81% 2.56 $94,886 $86,927 $37,129 59% % % 41% 1.83 $69,417 $47,084 $35,698 32% % % 28% 1.87 $67,580 $62,595 $36,050 37% ,048 1, % % 29% 2.13 $57,469 $46,437 $26,980 23% % % 55% 2.23 $69,203 $50,978 $31,101 27% % % 63% 2.18 $78,911 $73,127 $35,565 48% ,115 1, % % 43% 2.29 $68,369 $58,106 $29,800 36% Trade Area 151, , % 72,018 7, % 55% 2.32 $82,938 $71,734 $35,586 45% Cities: Dublin 30,822 32, % 12,624 2, % 62% 2.77 $127,321 $106,868 $46,521 66% Hilliard 29,061 31, % 11,131 1, % 68% 2.84 $94,860 $81,543 $33,669 57% Upper Arlington 33,277 33, % 15,046 2, % 72% 2.36 $103,127 $78,701 $43,472 53% Franklin County 1,125,956 1,167, % 538,052 28, % 49% 2.37 $68,385 $55,046 $28,542 33%

18 SELECT DEMOGRAPHIC TABLE - Hilliard, Ohio Median % African % Hispanic % College % White Employment By Occupation Sector Age % White American % Asian Ethnicity Educated Collar % Mgt & Bus % Edu. % Hthcare % Sales % Adm Support % 5% 54% 6% 83% 89% 8% 31% 12% 6% 6% % 8% 4% 8% 57% 67% 11% 10% 2% 13% 15% % 4% 2% 3% 57% 88% 19% 19% 8% 12% 9% % 1% 2% 3% 54% 60% 5% 4% 11% 12% 13% % 6% 3% 6% 60% 91% 24% 14% 7% 15% 11% % 4% 4% 8% 66% 81% 13% 7% 12% 15% 7% % 9% 7% 14% 56% 73% 12% 10% 5% 10% 16% % 2% 2% 2% 60% 77% 19% 17% 5% 12% 13% % 4% 10% 5% 73% 85% 19% 14% 11% 10% 13% % 8% 5% 6% 40% 62% 16% 4% 5% 7% 7% % 3% 7% 4% 62% 86% 23% 9% 7% 16% 16% % 2% 10% 2% 91% 95% 30% 13% 9% 18% 5% % 2% 20% 7% 66% 82% 23% 9% 11% 11% 7% % 1% 5% 2% 69% 81% 28% 2% 5% 20% 13% % 0% 2% 1% 16% 47% 4% 7% 2% 12% 18% % 5% 24% 7% 48% 74% 21% 7% 7% 11% 13% % 3% 25% 4% 63% 86% 29% 7% 5% 16% 8% % 0% 7% 2% 78% 93% 19% 15% 14% 13% 6% % 1% 2% 2% 61% 86% 21% 20% 7% 11% 8% % 1% 5% 0% 70% 88% 17% 16% 2% 13% 13% % 0% 3% 4% 81% 91% 27% 7% 15% 13% 4% % 2% 9% 3% 52% 81% 19% 18% 6% 9% 21% % 1% 5% 2% 75% 90% 23% 8% 11% 12% 11% % 1% 10% 0% 73% 95% 17% 14% 10% 11% 11% % 0% 8% 3% 77% 94% 22% 10% 21% 5% 4% % 1% 7% 1% 63% 87% 18% 16% 15% 14% 10% % 1% 7% 3% 57% 85% 26% 9% 7% 17% 8% % 1% 8% 6% 68% 92% 25% 11% 9% 14% 17% % 1% 2% 2% 54% 85% 19% 11% 18% 7% 10% % 1% 3% 5% 60% 86% 21% 4% 9% 16% 17% % 2% 4% 1% 54% 85% 29% 8% 6% 11% 15% % 0% 3% 1% 71% 90% 22% 14% 6% 15% 14% % 1% 4% 4% 54% 84% 16% 13% 9% 22% 9% % 0% 3% 2% 63% 85% 24% 17% 5% 15% 3% % 0% 12% 3% 76% 91% 29% 15% 14% 16% 5% % 2% 17% 5% 66% 84% 18% 14% 9% 15% 5% % 0% 1% 2% 83% 92% 27% 10% 18% 20% 11% % 3% 6% 4% 72% 79% 23% 9% 13% 13% 7% % 1% 3% 5% 69% 93% 25% 8% 3% 21% 15% % 0% 8% 3% 73% 84% 12% 14% 7% 16% 10% % 0% 3% 2% 76% 89% 24% 9% 7% 12% 5%

19 SELECT DEMOGRAPHIC TABLE - Hilliard, Ohio Median % African % Hispanic % College % White Employment By Occupation Sector Age % White American % Asian Ethnicity Educated Collar % Mgt & Bus % Edu. % Hthcare % Sales % Adm Support % 0% 1% 4% 88% 96% 27% 13% 5% 8% 10% % 4% 20% 6% 68% 86% 21% 28% 2% 5% 13% % 4% 20% 6% 62% 79% 15% 9% 5% 9% 13% % 0% 2% 3% 82% 95% 34% 14% 13% 7% 6% % 0% 2% 4% 89% 93% 30% 11% 11% 12% 8% % 0% 1% 2% 83% 92% 38% 6% 10% 13% 6% % 1% 4% 2% 90% 96% 33% 8% 15% 9% 8% % 1% 2% 1% 83% 93% 23% 16% 13% 6% 5% % 1% 1% 2% 79% 88% 26% 12% 8% 15% 9% % 1% 3% 2% 68% 95% 29% 19% 11% 17% 8% % 3% 2% 2% 55% 89% 17% 10% 5% 22% 13% % 0% 2% 4% 63% 88% 21% 15% 6% 12% 11% % 3% 5% 3% 62% 84% 15% 14% 9% 12% 10% % 8% 17% 4% 58% 81% 22% 6% 9% 9% 12% % 4% 6% 7% 55% 79% 10% 5% 8% 20% 16% % 3% 8% 0% 45% 90% 22% 7% 7% 20% 16% % 5% 5% 1% 57% 88% 14% 21% 11% 3% 20% % 2% 1% 2% 64% 87% 17% 22% 6% 12% 7% % 15% 39% 10% 57% 65% 4% 22% 7% 8% 11% % 11% 47% 7% 69% 73% 9% 12% 13% 3% 6% % 7% 52% 7% 63% 63% 4% 21% 4% 5% 13% % 8% 45% 6% 61% 88% 7% 38% 4% 9% 18% % 5% 70% 11% 96% 91% 5% 57% 0% 8% 4% % 5% 1% 0% 41% 71% 24% 7% 12% 6% 10% % 4% 18% 8% 72% 80% 11% 14% 9% 10% 12% % 1% 1% 3% 13% 50% 8% 8% 0% 9% 20% % 4% 4% 7% 37% 69% 12% 7% 8% 12% 16% % 1% 6% 3% 76% 83% 34% 10% 8% 8% 4% % 2% 6% 9% 54% 81% 21% 10% 9% 10% 14% % 2% 4% 5% 45% 74% 17% 8% 3% 15% 12% % 2% 4% 7% 22% 64% 11% 8% 8% 12% 14% % 4% 6% 0% 20% 57% 0% 27% 0% 0% 21% % 2% 1% 11% 25% 46% 9% 3% 0% 7% 12% % 2% 8% 6% 49% 78% 26% 7% 10% 8% 13% % 3% 8% 5% 60% 85% 22% 4% 11% 13% 12% % 1% 1% 4% 34% 69% 6% 16% 2% 19% 17% % 2% 6% 5% 48% 72% 17% 5% 6% 11% 15% % 4% 6% 4% 48% 81% 26% 8% 9% 12% 13% % 4% 6% 6% 53% 75% 20% 8% 8% 6% 16% % 7% 5% 5% 43% 75% 19% 9% 8% 10% 15% % 10% 8% 13% 48% 67% 13% 7% 5% 10% 13%

20 SELECT DEMOGRAPHIC TABLE - Hilliard, Ohio Median % African % Hispanic % College % White Employment By Occupation Sector Age % White American % Asian Ethnicity Educated Collar % Mgt & Bus % Edu. % Hthcare % Sales % Adm Support % 0% 1% 7% 26% 65% 11% 8% 0% 6% 23% % 0% 0% 0% 100% 0% 0% 0% 0% 0% 0% % 5% 5% 4% 53% 73% 22% 8% 8% 11% 12% % 2% 7% 3% 64% 82% 32% 5% 6% 12% 9% % 1% 7% 1% 72% 91% 28% 12% 12% 17% 10% % 3% 2% 1% 70% 90% 31% 12% 10% 11% 3% % 0% 1% 2% 56% 88% 24% 13% 11% 11% 13% % 1% 12% 3% 75% 93% 30% 5% 11% 17% 11% % 2% 8% 6% 51% 80% 26% 7% 6% 16% 6% % 1% 9% 2% 54% 82% 23% 8% 7% 11% 12% % 15% 3% 7% 27% 76% 11% 7% 7% 19% 18% % 12% 14% 17% 34% 74% 16% 6% 15% 15% 14% % 4% 11% 4% 44% 76% 18% 7% 11% 11% 14% % 8% 16% 18% 41% 62% 19% 0% 0% 7% 20% % 1% 1% 3% 70% 87% 18% 16% 7% 17% 12% % 0% 2% 3% 67% 91% 26% 19% 8% 11% 9% % 1% 3% 1% 63% 89% 24% 12% 7% 13% 13% % 3% 2% 3% 51% 79% 18% 10% 4% 11% 12% % 2% 2% 4% 32% 73% 12% 11% 4% 17% 14% % 2% 2% 7% 59% 85% 15% 8% 2% 18% 18% % 4% 2% 6% 55% 83% 31% 4% 3% 5% 11% % 3% 2% 6% 38% 75% 14% 8% 5% 10% 17% Trade Area % 3% 9% 5% 57% 79% 20% 10% 8% 12% 12% Cities: Dublin % 3% 13% 3% 66% 85% 28% 8% 8% 16% 9% Hilliard % 2% 6% 5% 48% 75% 19% 8% 7% 12% 13% Upper Arlington % 1% 6% 3% 72% 89% 23% 13% 10% 13% 9% Franklin County % 19% 5% 5% 36% 69% 16% 7% 6% 11% 16%

21 Pop-Facts: Demographic Snapshot 2012 Report 3700 FISHINGER BLVD, HILLIARD, OH miles miles miles 5 Minute(s) 7 Minute(s) 10 Minute(s) Description Radius 1 % Radius 2 % Radius 3 % DrvTim 1 % DrvTim 2 % DrvTim 3 % Population 2017 Projection 6,056 27,046 79,796 10,027 35, , Estimate 5,938 26,619 77,619 9,832 34, , Census 6,040 26,161 71,556 9,810 33, , Census 4,355 17,936 47,890 7,346 25,064 86,106 Growth % 1.60% 2.80% 1.98% 2.59% 3.61% Growth % 1.75% 8.47% 0.22% 5.36% 11.76% Growth % 45.86% 49.42% 33.54% 31.82% 42.48% 2012 Est. Pop by Single Race Class 5,938 26,619 77,619 9,832 34, ,113 White Alone 5, , , , , , Black or African American Alone , , Amer. Indian and Alaska Native Alone Asian Alone , , , , Native Hawaiian and Other Pac. Isl. Alone Some Other Race Alone , , Two or More Races , , Est. Pop Hisp or Latino by Origin 5,938 26,619 77,619 9,832 34, ,113 Not Hispanic or Latino 5, , , , , , Hispanic or Latino: , , Mexican , , Puerto Rican Cuban All Other Hispanic or Latino , Est. Hisp or Latino by Single Race Class , ,862 White Alone , , Black or African American Alone American Indian and Alaska Native Alone Asian Alone Native Hawaiian and Other Pacific Islander Alon Some Other Race Alone , , Two or More Races The Nielsen Company. All rights reserved. Mon Mar 12, 2012 Page 1

22 Pop-Facts: Demographic Snapshot 2012 Report 3700 FISHINGER BLVD, HILLIARD, OH miles miles miles 5 Minute(s) 7 Minute(s) 10 Minute(s) Description Radius 1 % Radius 2 % Radius 3 % DrvTim 1 % DrvTim 2 % DrvTim 3 % 2012 Est. Pop. Asian Alone Race by Cat 203 1,079 4, ,299 11,205 Chinese, except Taiwanese , Filipino Japanese , Asian Indian , , Korean Vietnamese Cambodian Hmong Laotian Thai All Other Asian Races Including 2+ Category Est. Population by Ancestry 5,938 26,619 77,619 9,832 34, ,113 Pop, Arab , Pop, Czech Pop, Danish Pop, Dutch , Pop, English , , , , Pop, French (except Basque) , , Pop, French Canadian Pop, German 1, , , , , , Pop, Greek , Pop, Hungarian , Pop, Irish , , , , , Pop, Italian , , , , Pop, Lithuanian Pop, United States or American , , , , Pop, Norwegian Pop, Polish , , Pop, Portuguese Pop, Russian Pop, Scottish , , Pop, Scotch-Irish , , Pop, Slovak Pop, Subsaharan African Pop, Swedish Pop, Swiss Pop, Ukrainian Pop, Welsh , Pop, West Indian (exc Hisp groups) Pop, Other ancestries 1, , , , , , The Nielsen Company. All rights reserved. Mon Mar 12, 2012 Page 2

23 Pop-Facts: Demographic Snapshot 2012 Report 3700 FISHINGER BLVD, HILLIARD, OH miles miles miles 5 Minute(s) 7 Minute(s) 10 Minute(s) Description Radius 1 % Radius 2 % Radius 3 % DrvTim 1 % DrvTim 2 % DrvTim 3 % 2012 Est. Population by Ancestry Pop, Ancestry Unclassified , , , , Est. Pop Age 5+ by Language Spoken At Home 5,536 24,511 71,440 9,147 32, ,222 Speak Only English at Home 5, , , , , , Speak Asian/Pac. Isl. Lang. at Home , , , Speak IndoEuropean Language at Home , , , Speak Spanish at Home , , Speak Other Language at Home , Est. Population by Sex 5,938 26,619 77,619 9,832 34, ,113 Male 2, , , , , , Female 3, , , , , , Est. Population by Age 5,938 26,619 77,619 9,832 34, ,113 Age , , , , Age , , , , Age , , , , Age , , , , Age , , , Age , , , , Age , , , , , Age , , , , , Age , , , , , , Age , , , , , Age , , , , Age , , , Age 85 and over , Age 16 and over 4, , , , , , Age 18 and over 4, , , , , , Age 21 and over 4, , , , , , Age 65 and over , , , , , Est. Median Age Est. Average Age The Nielsen Company. All rights reserved. Mon Mar 12, 2012 Page 3

24 Pop-Facts: Demographic Snapshot 2012 Report 3700 FISHINGER BLVD, HILLIARD, OH miles miles miles 5 Minute(s) 7 Minute(s) 10 Minute(s) Description Radius 1 % Radius 2 % Radius 3 % DrvTim 1 % DrvTim 2 % DrvTim 3 % 2012 Est. Male Population by Age 2,864 13,034 38,120 4,778 17,136 67,551 Age , , , , Age , , , Age , , , Age , , Age , , Age , , Age , , , , Age , , , , Age , , , , Age , , , , Age , , Age , , Age 85 and over Est. Median Age, Male Est. Average Age, Male Est. Female Population by Age 3,074 13,585 39,500 5,054 17,674 69,562 Age , , , , Age , , , Age , , , Age , , Age , , Age , , Age , , , , Age , , , , Age , , , , Age , , , , Age , , , Age , , Age 85 and over , Est. Median Age, Female Est. Average Age, Female The Nielsen Company. All rights reserved. Mon Mar 12, 2012 Page 4

25 Pop-Facts: Demographic Snapshot 2012 Report 3700 FISHINGER BLVD, HILLIARD, OH miles miles miles 5 Minute(s) 7 Minute(s) 10 Minute(s) Description Radius 1 % Radius 2 % Radius 3 % DrvTim 1 % DrvTim 2 % DrvTim 3 % 2012 Est. Pop Age 15+ by Marital Status 4,819 20,878 61,007 7,920 27, ,668 Total, Never Married 1, , , , , , Males, Never Married , , , , Females, Never Married , , , , , Married, Spouse present 2, , , , , , Married, Spouse absent , , Widowed , , , Males Widowed Females Widowed , , Divorced , , , , Males Divorced , , , Females Divorced , , , , Est. Pop. Age 25+ by Edu. Attainment 4,094 17,447 51,402 6,691 23,480 91,209 Less than 9th grade , Some High School, no diploma , , High School Graduate (or GED) , , , , , Some College, no degree , , , , , Associate Degree , , , , Bachelor's Degree 1, , , , , , Master's Degree , , , , Professional School Degree , , , Doctorate Degree , , Est Pop Age 25+ by Edu. Attain, Hisp. or Lat , ,811 Less than 9th grade Some High School, no diploma High School Graduate (or GED) , Some College, no degree Associate Degree Bachelor's Degree Graduate or Professional Degree The Nielsen Company. All rights reserved. Mon Mar 12, 2012 Page 5