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EXECU~'IVE SUNIlVIARY
<br />azea is also adj scent to properties on Highway 10 that would likely be developed as retail in the
<br />future.
<br />We believe this strategy would provide the best opportunity to capture the spectrum of the
<br />mazket, from manufacturers and transport firms that have traditionally operated in Elk River to
<br />smaller distribution wholesalers and retailers who may want a more flexible space that better
<br />caters to their business.
<br />The table that follows shows our proposed development concept. The (Gateway Business Center
<br />is divided into two azeas, one with single-user, owner-occupied parcels and the other with three
<br />multi-tenant, leased industrial buildings.
<br /> RECOIVIl4IENDED DEVELOPMENT CONCEPT
<br /> GATEWAY BUSINESS CENTER
<br /> ELK RIVER
<br /> FEBRUARY 2007
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<br />Lot # 1 3.0 130,680 20,000 - 25,000 $2.50 $326,700
<br />Lot #2 3.0 130,680 20,000 - 25,000 $2.50 $326,700
<br />Lot#3 3.0 130,680 20,000 - 25,000 $2.50 $326,700
<br />Lot #4 3.0 130,680 20,000 - 25,000 $2.50 $326,700
<br />Lot #5 3.0 130,680 20,000 - 25,000 $2.50 $326,700
<br />Lot #6 3.0 130,680 20,000 - 25,000 $2.50 $326,700
<br />Lot #7 4.0 174,240 25,000 - 35,000 $2.50 $435,600
<br />Lot #8 4.0 174,240 25,000 - 35,000 $2.50 $435,600
<br />Lot #9 4.0 174,240 25,000 - 35,000 $2.50 $435,600
<br />Lot#10 5.0 217,800 35,000 - 45,000 $2.50 $544,500
<br />Lot#ll 5.0 217,800 35,000 - 45,000 $2.50 $544,500
<br />Total 40.0 265,000 - 345,000
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<br />Building #1 b.7 290,400 40,000 - 60,000 $2.50 $726,000 $10.00 $4.50
<br />Building #2 6.7 290,400 40,000 - 60,000 $2.50 $726,000 $10.00 $4.50
<br />Building #3 6.7 290,400 40,000 - 60,000 $2.50 $726,000 $10.00 $4.50
<br />Total 20.0 120,000 - 180,000
<br />Solace: Ma~ield Research Inc.
<br />MAI~FYELID RESEARCH INC. iV
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