BELMONT LAKE PRESERVEROCKY MOUNT, NC

±1,129-ACRE DEVELOPMENT & INVESTMENT OPPORTUNITY

CONTENTS

EXECUTIVE SUMMARY01

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PROPERT Y INFO

LOCATION OVERVIEW

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01 EXECUTIVE SUMMARY

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On behalf of Foundry Commercial, we are pleased to present a unique offering for sale featuring 1,129 gross acres of land located within the Belmont Lake Preserve master-planned development and golf course community in Rocky Mount, North Carolina.

The offering consists of roughly 1,129 acres of the 1,400-acre Belmont Lake Preserve master-planned development and golf course community. A breakdown of the offering is as follows:

• Residential & Commercial Land: ±357.71 acres• Residential & Multifamily Land: ±426.23 acres• Common Area (Lake & Pond): ±78.99 acres• Golf Course: ±205.63 acres• Wetlands / BMPs: ±60.61 acres• Vacant Developed Lots: ±103 lots, 58 of which are under contract to DR Horton

at $42,500 per lot• Belmont Lake Preserve HOA Declarant Rights

Belmont Lake Preserve features new homes starting in the $190,000’s and up to the $400,000’s with lot prices starting at $40,000 for non-golf course lots and $75,000 for on-course lots. ±250 homes have already been completed, in addition to an amenity center, pool, 18-hole golf course, pro shop, restaurant, and maintenance facility.

The Belmont Lake Preserve Conditional-Use Development Plan features a favorable zoning with entitlements that allow for a residential density not to exceed six units per acre. Thus, this offering is a generational investment opportunity which provides a developer the flexibility and opportunity to build over 8,000 residential units, as well as a broad range of commercial uses within a proven master-planned golf course community and a growing market.

For more information on the Belmont Lake Preserve Golf Club and Community please visit the below website http://www.belmontlakegolfclub.com/ and https://belmontlakepreserve.com/

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THOMAS A BETTS PARKWAY

THOMAS A BETTS PARKWAY

EXECUTIVE SUMMARYBELMONT L AKE PRESERVE | INTRODUCTION

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02 PROPERT Y INFORMATION

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ADDRESS 201 Belmont Club WayRocky Mount, North Carolina 27804

OWNER ENTITY Rocky Mount WEH LP & Rocky Mount Golf Club WEH LP

PARCEL ID #S 043417, 043401, 033601, 033600, 033599, 017205, 046559, 046480, 017540, 018294, 104436, 104174, 041936, 041182, 043787, 043541, 043538, 043533, 043529, 043385, 043359, 043347, 043346, 049133, 049062, 044050, 044048, 043999, 043950, 043945, 043956, 048003, 047571, 048934, 049580, 049496, 042966, 016760, 047569, 037944, 037945, 037946, 037915, 037916, 049375, 044326, 044516, 044558, 044836, 048412, 048931, 102707, 044054, 044319, 004101, 041713, 042120, 042170, 042744, 043017, 043020, 043577, 043799, 043811, 043819, 104458, 104200, 104455, 008450, 008529, 037936, 040719, 040720, 040756, 040867, 040882, 040891, 040897, 040900, 040906, 040909, 040919, 040924, 040985, 040986, 040987, 040990, 040991, 040999, 041183, 041219, 041627, 041663, 042644, 042925, 042948, 042960, 043033, 043045, 043152, 043203, 043213, 043283, 043345, 043358, 043398, 043400, 043438, 043514, 043608, 043612, 043633, 043634, 043663, 043820, 043827, 043837, 043838, 043897, 043907, 043939, 043941, 044028, 044031, 044042, 044306, 044389, 044548, 044565, 044889, 044959, 045048, 045061, 047568, 047583, 047658, 047778, 048044, 048118, 048145, 048190, 048425, 048478, 048639, 049137, 104247, 105300, 315281, 320917, 320967, 321223, 326446, 305400

COUNTY Nash County

JURISDICTION City of Rocky Mount

ZONING Planned Density Residential Conditional Use

UTILITIES Municipal water & sewer

ACREAGE (GROSS) ±1,129.16 acres

PRICING GUIDANCE Call for details

LOCATION OVERVIEWBELMONT L AKE PRESERVE | SUMMARY

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PROPERT Y INFORMATIONBELMONT L AKE PRESERVE | PROPERT Y PHOTOS

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PROPERT Y INFORMATION

GOLF COURSE

GOLF CLUBHOUSE

Belmont Lake Golf Club is an18-hole, 7,085 yard award-winning championship golf course designed by David Johnson.

Belmont Lake Golf Club Golf Clubhouse features meeting, gathering and activity rooms, a billiards room, and an indoor swimming pool, as well as full catering and dining facilities.

BELMONT L AKE PRESERVE | GOLF CLUB

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PROPERT Y INFORMATIONBELMONT L AKE PRESERVE | GOLF CLUB

GOLF CLUBHOUSE

New state-of-the-art golf clubhouse• Grille room restaurant “The Main Course”• Indoor and outdoor dining areas• Full pro golf shop• Book golf instruction• PGA professional Tim Wilke on staff

GOLF COURSE An18-hole, David Johnson designed, award-winning championship golf course. The golf course has five sets of tees on each hole, playing 7,085 yards from the back tees and 4,900 yards from the front tees. There is a balance of dogleg lefts, dogleg rights, straight holes, large greens, small greens, and a wonderful variety of hole lengths. The 18th fairway runs along our beautiful 80-acre Lake, and two man-made ponds heighten the challenge.

THE GOLF COURSE BY THE NUMBERS:

• 18-HOLE, 205.63-ACRE GOLF COURSE

• 21,916 ROUNDS PLAYED PER YEAR ON 3 YEAR AVERAGE

• 22,405 ROUNDS PLAYED IN 2021

• NEGATIVE NOI OF $157,126 PER YEAR ON 3 YEAR AVERAGE

• NEGATIVE NOI OF $92,730 IN 2021

• GROSS INCOME OF $847,977 PER YEAR ON 3 YEAR AVERAGE

• GROSS INCOME OF $964,673 IN 2021

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PROPERT Y INFORMATION

F ITNESS CENTER

INDOOR | OUTDOOR POOLS

The HOA Clubhouse has both an indoor and an outdoor swimming pool for members’ use.

The ±$2 million HOA Clubhouse also houses the state-of-the-art fitness center.

BELMONT L AKE PRESERVE | COMMUNIT Y AMENIT IES

HOA CLUBHOUSE New Community Clubhouse

• Meeting, gathering and activity rooms

• Indoor and outdoor swimming pools

• A state-of-the-art fitness facility

• Full catering and dining facilities

• A billiards room

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PROPERT Y INFORMATIONBELMONT L AKE PRESERVE | S ITE PL AN

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The Belmont Lake Preserve Conditional-Use Development Plan which was approved in July 2018 features a favorable and flexible zoning and development plan. Entitlements allow for residential density not to exceed six units per acre or 8,000 units, as well as a broad range of commercial development.

PROPERT Y INFORMATIONBELMONT L AKE PRESERVE | ZONING PL AN

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BELMONT L AKE PRESERVE | COMMERCIAL AREA AERIAL

LOCATION OVERVIEW

COMMERCIAL DEVELOPMENT OPPORTUNITIES RANGING FROM ±28 TO ±215 ACRES.

CUMMINGS ROAD

CUMMINGS ROAD

THOMAS A BETTS PARKWAY

THOMAS A BETTS PARKWAY

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Printed FebrSee Below f

ConnectGIS has been prepared for the inventory of real property found within this jurisdiction, and is compiled from recorded deeds, plats, and other public records and data. Users of this system are hereby notified that the aforementioned public primary information sources should be consulted for verification of the information contained in this County, Withers & Ravenel, ConnectGIS and other mapping companies assume no legal responsibility for the information contained in this system. Grid data is based on the North Carolina state plane coordinate system, 1983 North American Datum (NC NAD83).

LEGEND

A-1 Agriculture

PDRCU Planned Density Residential Conditional Use

O-I Office & Institutional

R-6 MFA Multifamily

R-10 Residential Low-Density

B-5 Commercial Services

I-2CU Heavy Industrial

MHP Mobile Home Park

PROPERT Y INFORMATIONBELMONT L AKE PRESERVE | TOPOGRAPHY & ZONING MAPS

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PROPERT Y INFORMATIONBELMONT L AKE PRESERVE | FUTURE PHASES

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03 LOCATION OVERVIEW

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GOLDEN EAST CROSSING

ROCKY ROCKY MOUNT MOUNT SPORTS SPORTS

COMPLEXCOMPLEX

NORTHGREENNORTHGREENBENVENUE BENVENUE COUNTRY COUNTRY

CLUBCLUB

DISTANCE TO

I-95 5 miles

Wilson 35 miles

Greenville 48 miles

Raleigh 63 miles

RDU International Airport 78 miles

Fayetteville 101 miles

Jacksonville 107 miles

Wilmington 156 miles

CSX CAROLINA CSX CAROLINA CONNECTORCONNECTOR

NC DMV NC DMV HQHQ

LOCATION OVERVIEWBELMONT L AKE PRESERVE | AMENIT Y AERIAL

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Rocky Mount, NC is home to many large employers with more on the way, due to an active Economic Development initiative set forth by both Edgecombe and Nash counties. The City is historically known for its strong rail transportation, textiles, and agriculture industries, but the economy of Rocky Mount has since diversified into biomedical, pharmaceuticals, manufacturing, and logistics. Rocky Mount has the unique combination of innovation and hometown charm that makes it a great place to raise a family or start a business. In fact, in 2018, Forbes ranked the City of Rocky Mount as No. 6 for cost of doing business on its list of “Best Small Places for Business and Careers.” Rocky Mount is located approximately 60 miles northeast of Raleigh and North Carolina’s famed technology “Triangle,” making it ideal for commuting.

2021-22 new home sales in Rocky Mount exceeded that of 2019, despite the economic fallout of the pandemic. Year-to-date in 2021, closed sales in the Rocky Mount area are up 3.2 percent. A combination of inbound population, increased inventory, low mortgage rates, and affordability have helped produce positive metrics for the market and property transactions which are outpacing that of 2019. Additionally, the median home sale price for new construction single family homes in Rocky Mount is up 44.5 percent with a median year to date sales price of $209,530 compared to the 2019 median of $144,990. Drilling down on Belmont Lake Preserve, per Triangle MLS there were 14 new home sales in 2019 with a median sale price of $198,995 and an average sale price of $209,316, compared to 2020 which saw 38 new home sales with a median of $212,100 and an average of $216,674.

InMyArea.com ranked Rocky Mount as the best city in North Carolina to work from home. Nationally, it ranked number 7 in the medium sized cities category for working remotely.

ALL EYES ON ROCKY MOUNT

Photos: Carl Lewis

LOCATION OVERVIEWBELMONT L AKE PRESERVE | ROCK MOUNT

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Thirty years ago, tobacco, furniture and textiles were the three major drivers of the local Rocky Mount economy. Though these sectors are still major players in the economy, the global economy is becoming more diversified, opening the door for more advanced and sophisticated manufacturing, software and information technology companies.

NORTH CAROLINA DEPARTMENT OF MOTOR VEHICLE MOVES HEADQUARTERS TO ROCKY MOUNTIn March 2019, after the State of North Carolina discovered problems with asbestos and fire safety in their two Raleigh headquarter buildings, they approved moving the Department of Motor Vehicle’s headquarters to Rocky Mount. This move has created over 140 vacancies out of the 495 headquarter jobs. By Christmas 2020 the NCDMV was partially operating in a five-building, 208,000 SF office park that was originally the home of the Hardee’s hamburger restaurant chain and later headquarters of Centura Bank. They plan to complete the move by spring 2021. In February 2021 they were advertising 85 open positions. The new headquarters is located 10 minutes south of the Belmont Lake Preserve community.

TRIANGLE T IRETriangle Tire is in the process of building a new plant in Edgecombe County which is expected to be in production in 2020. The development will be conducted in two phases. The first phase will feature an investment of $580 Million and will be located at the Kingsboro megasite, a 1,449 acre site that was designed to entice manufacturers and new employers to come to the Rocky Mount region. The project will be conducted in two phases. The first phase will represent an investment of $580 million. It will be located at the Kingsboro megasite, a roughly 1,449-acre area that was designed to entice manufacturers to come to the region, according to the News and Observer. Triangle Tire is located 20 minutes southeast of the Belmont Lake Preserve community.

LOCATION OVERVIEWBELMONT L AKE PRESERVE |ECONOMIC GROWTH

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In 2019, CSX and the North Carolina Department of Transportation broke ground on a $160 million dollar project known as the “Carolina Connector.” The intermodal center, slated for completion in early 2021, will have three wide-span, zero-emission electric cranes with an annual lift capacity of 110,000 containers, according to CSX. Distributing and manufacturing typically follow the CSX facilities such as this which will be interesting to follow over the coming years. Please note that this proposed development is located a mile south of the Belmont Lake Preserve community.

Rocky Mount stands to benefit greatly from the project which will indirectly create upwards of 1,300 jobs. This project on 330 acres of land should help Rocky Mount’s economic development greatly. Strategically chosen for its proximity to CSX’s high-speed, high-capacity I-95 corridor, as well as their east-west national gateway route, the Carolina Connector will use technology to revolutionize the railroad industry, providing connectivity for both domestic production and consumer markets and the global logistics chain, according to freightwaves.com.

CSX CAROLINA CONNECTOR

Photo: rtands.com

LOCATION OVERVIEWBELMONT L AKE PRESERVE | ECONOMIC GROWTH

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DEMOGRAPHICS

1 MILE 3 MILE 5 MILE

2020 ESTIMATED POPULATION 615 6,914 16,665

2025 PROJECTED POPULATION 618 6,812 16,419

2020 ESTIMATED HOUSEHOLDS 214 2,620 6,926

2025 PROJECTED HOUSEHOLDS 215 2,596 6,869

AVERAGE HH INCOME $92,068 $79,733 $73,075

MEDIAN HH INCOME $58,781 $56,353 $55,407

2020 TOTAL BUSINESSES 63 209 756

2020 TOTAL EMPLOYEES 1,194 4,081 11,702

1 MILE 3 MILE 5 MILE

LOCATION OVERVIEWBELMONT L AKE PRESERVE | DEMOGRAPHICS

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Highly regarded for offering a remarkable quality of life to its residents, the Triangle features many cultural and recreational amenities and is also home to world-class medical centers, such as UNC Hospitals and Duke University Medical Center. As a result, the region continuously attracts a steady stream of new highly-educated residents from all over the world, driving economic and population growth that will continue to rank among the highest of all U.S. cities.

The Raleigh-Durham market is a stable place to do business, with low costs, a low-tax structure, and pro-business regulatory environment. Construction costs, electric rates, overall taxes, and our cost of living are all below the national average. The state of North Carolina, along with Wake County and the City of Raleigh, have each secured a AAA bond rating for the last 50 years, making North Carolina one of only ten states to earn this rating. Raleigh-Durham's competitive business climate has helped attract employers looking to relocate their operations away from rising rent in other major metros and has helped existing companies grow and thrive. While rents are ever-rising in tech hotspots like Silicon Valley, talent continues to move to new growth markets like the Raleigh metro, which can support lifestyles equally as well for a lower cost.

ECONOMY ANCHORED BY STABILITY

Raleigh-Durham is insulated from severe economic downturns due to a high percentage of employment in the public sector - including federal, state and local governments, plus local public universities and hospital-related employers. Among the two 52 employers with employment above 1,000, the public sector represents 25 organizations that employ over 150,000 people. These public employers are either growing or maintaining a stable workforce.

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THE RESEARCH TRIANGLE

TOP 100 BEST PLACE TO LIVE2019 LIVABILITY

#2#2

#2

#4

#3

#1

#2

BEST PLACE FOR BUSINESS & CAREERS

FORBES 2018

#2

MOST EDUCATED CITIES IN THE U.S.

FORBES 2018

#4

OVERALL REAL ESTATE MARKETS TO WATCH IN THE U.S.

FWC (2020)

#2

CITY FOR BEST QUALITY OF LIFE IN THE WORLD

NUMBEO 2019

#3

BEST CITY TO DRIVE IN THE U.S. TFLCAR.COM 2019

#1

#4 #1BEST SMALL CITIES IN AMERICA

APEX & HOLLY SPRINGS WALLETHUB, 2019

2%BEST CITY FOR

STEM JOBS RCLC, 2019

#5TOP

LOCATION OVERVIEWBELMONT L AKE PRESERVE | RDU

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The Raleigh Durham region is seen as one of the most desirable areas in the country for corporations to expand and relocate to. This was demonstrated when the region was short-listed by both Amazon and Apple in 2018 during their search for east coast campus sites. Expansions and relocations over the past year have included Advance Auto relocating their headquarters to Raleigh, Eli Lilly announcing their 450,000 square foot expansion in RTP , Broadband announcement of a new 500,000 square foot headquarters in Raleigh and Seqirus $140 million expansion in Holly Springs. Numerous other expansions occurred throughout the region in 2019.

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S Q U A R E F E E T A D D E D

1.2MSource: Wake County Economic Development

W A K E C O U N T Y 2 0 1 9 E C O N O M I C D E V E L O P M E N T A C T I V I T YRALEIGH-DURHAM-CHAPEL HILL

CORPORATE EXPANSION ACTIVIT Y

LOCATION OVERVIEWBELMONT L AKE PRESERVE | RDU

BUSINESS FACILITIES, 2019

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CNBC, 2019

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NORTH CAROLINA ACCOLADES

KARL HUDSON IV, CCIMPartner, Land ServicesFoundry Commercial2301 Sugar Bush Road | Suite 220Raleigh, North Carolina 27612(919) 987 1012karl.hudson@foundrycommercial.com

Although the information contained herein was provided by sources believed to be reliable, Foundry Commercial makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.