City Center II — MTB Partners/Visser Brothers Development

7/29/2019 City Center II MTB Partners/Visser Brothers Development

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Response to:

Request for Qualifications & ProposalsPark Planning DistrictEast Lansing, Michigan

PROPOSEDPARK VILLAGE

Development

Presented by:

Michael T. BaileyMTB Partners, LLC

255 E. Brown Street, Suite 105

Birmingham, Michigan 48009

and

Bill MastVisser Brothers Development

1946 Turner Ave., NWGrand Rapids, Michigan 49504


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East Lansing, Michigan

MTB

TABLE OF CONTENTS

Tab 1 Cover Letter

Tab 2 Development Entity/Project Team

Tab 3 Project History

Tab 4 Financial Capacity

Tab 5 Proposed Development

Tab 6 Vision Statement

Tab 7 Budget Estimates

Tab 8 Parking Structure / Demand

Tab 9 MTB Partners Company Brochure

Tab 10 Visser Brothers Company Brochure


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February 6, 2013

Lori Mullins, LLA, CTA

Community and Economic DevelopmentCity of East Lansing410 Abbot RoadEast Lansing, Michigan 48823

Re: RFQ- Park Planning

Dear Ms. Mullins,

Enclosed herein is our partnerships qualifications and schematic proposals to redevelopthe Park District of the City of East Lansing.

With the understanding that the site has certain constraints relative to its size andconfiguration, we believe that we have assembled a tremendous development team withcomplimentary skill sets and a fantastic development plan to anchor the western edge ofthe CBD of the City of East Lansing. The plan is consistent with the ComprehensivePlan of the City of East Lansing and includes the desires of the community as evidencedby summary information provided in Appendix B of the RFQ (Notes from CommunityConversations).

We are proposing an exciting mixed-use development that will compliment the existinguses in the CBD and also bring new patrons to the downtown. The goal is to create newdemand and increase the trade area of the downtown area.

Our partnership includes principals of my organization, MTB Partners, which as youknow was a 50% partner/owner of the original City Center developments surrounding theMAC and Albert Avenue corner, as well as the principals of Visser Brothers, Inc. whichis a 50 year old real estate development company in Grand Rapids. Visser Brothers hasdeveloped, owns and operates a wide variety of real estate including hotels, office,enclosed malls, strip retail, industrial, residential and mixed-use properties. A companybrochure for both MTB Partners and Visser Brothers is contained herein.

The City Center development includes a mixed-use 4-story building with first floor retailspace (CVS, Cosi, etc.) and 3 stories of residential condominiums. The development wasexpanded to include our acquisition of the Former Jacobsens building and thedevelopment of the attached 700+ car parking structure. As a result of this diversifiedurban development, we are acutely aware of the opportunities and challenges that goalong with these types of projects. We are excited, prepared and qualified to complete asuccessful mixed-use project that accomplishes the goals of the City of East Lansing.


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The proposed development in the Park District includes the following:

1) 100 room limited service hotel.2) 15,000 square foot retail space targeting an urban grocery user.3) 360 space, publicly owned and operated, parking deck to support the new

development as well as the existing park district area.4) 80-100 units of mixed-market rental housing to be situated above the parkingstructure.

5) 60-80 units of senior rental housing (predicated on demand).6) Approximately acre of open green space nearest the existing park for public

gatherings (i.e. farmers market, concert in the park grandstand, etc.)7) A Wharton Center affiliated theater component if viable.8) Pedestrian friendly elements will be incorporated into the site plan to promote

walking traffic to and from the park district area.9) A discussion is required relative to the extension and realignment of the section of

Albert Avenue, west of Abbot Road. The proposed development offers an

alternative to extending and expanding Albert Avenue in favor of possiblyrelocating the main entrance to the park district area to the public parking lot,adjacent and north of the AT&T building.

An important aspect of our proposal is to understand that we are flexible in our thoughtsand want to develop a project that meets the needs of the community. We will work withthe City Planning Department and Administration Officials to ensure the project is for thebetterment of the City of East Lansing, while achieving economic feasibility.

The contents of this Response to the RFQ is intended to be very conceptual since thescope of the project is unknown. As with the City Center I Project (CVS, condos, Barnes& Noble), it was difficult to ascertain the actual scope and density of the project prior tocompleting an in-depth due diligence of the property. We would hope that the proposedPark Village project may be expanded by incorporating adjacent properties if it wasdeemed appropriate for the betterment of the area. However, procuring adjacentproperty(s) may not be possible, and therefore, the proposal included should stand on itsown merits and should not be considered contingent upon obtaining any additionalproperty.

I thank you for your consideration and look forward to your response to our proposal.Please feel free to call me with any questions you may have regarding the enclosedresponse to the RFQ/P. I can be reached at anytime at 248.770.9106.

Sincerely,MTB Partnerson behalf of a partnership to be formed,

Michael T. Bailey


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Development Entity/Project Team

The proposed development team will consist of a partnership primarily involving theprincipals of two very experienced development companys; MTB Partners and VisserBrothers Development/Construction Company.

The depth of experience and complementary skills sets of these two organizations make ituniquely qualified for the proposed mixed-use project in East Lansing. MTB Partnershas been in existence since 2001 and has been involved with a wide range of commercialdevelopment types. The company has focused on income producing properties and isinvolved in the entire development spectrum, including retail, office, industrial and mixeduse projects. MTB Partners is/was a 50% ownership partner in the initial City Centermixed-use buildings at MAC and Albert Street, and has been a principal owner/developer

in $100 million worth of commercial projects over the past 12 years.

Visser Brothers is one of the most highly respected commercial real estate anddevelopment companies in Grand Rapids and has historically been one of the largestproperty owners in west Michigan. The company was formed in 1960 by three brothersand has evolved over the years into a full service construction and development company.Visser has an impressive diversified real estate portfolio with over 4 million square feetof commercial properties (retail, industrial, office and residential) as well as ownership of4 hotel properties in western Michigan. The company is currently constructing a fifthhotel in Grand Rapids.

The construction of the project will be handled by Visser Brothers construction divisionwhich constructs projects throughout the state of Michigan for a variety of owners andretailers, including, but not limited to; Menards, Dicks Sporting Goods, ALDI, TJ Maxx,Best Buy and several national restaurant and hotel chains. For a more comprehensivelist, please visit their website atwww.visserbrothers.com.

The combination of these two companies will create a high level of synergy in that thetwo firms complement each other in many aspects. The principals from both firms willbe directly involved with this proposed project from start to finish, providing hands-onexpertise through every phase of the development process. This is vitally important foran urban mixed-use development which involves both the public and private sector.

An additional partner in the development for the hotel portion of the project will includeHospitality Specialists. Hospitality Specialists is located in Jacksonville, IL. and is ahighly respected hospitality/hotel management firm. Hospitality Specialists wasfounded by The Mann family and owns, operates and/or manages 22 hotels in 5 states.The company specializes in limited service hotels and operates a variety of hotel flagsincluding, Marriott Courtyard, Fairfield Inn, Baymont, Hampton Inn, Spring Hill Suitesand Homewood Suites. Hospitality Specialists has a long standing partnership with
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Visser Brothers as they jointly developed/own 4 limited service hotels together in westMichigan, with a fifth property currently under construction.

As a result of the combined experience of the joint development team, the City of EastLansing can be confident that this team will see this project through to a successful

completion.

A brief resume of each of the partners is found below, followed by a detailed companybrochure for each partner in sections 9 and 10 of this proposal.


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MTB Partners, LLCBirmingham, Michigan

MTB Partners is a multi-faceted real estate operation whose experienceencompasses the entire development spectrum: from site identification, to building,financing, managing and leasing properties. From start to finish, MTB Partners projectsare marked by exceptional expertise, high standards and attention to detail. Founded in2001, MTB Partners was created as a boutique real estate firm focusing on income-producing properties, particularly retail, office, industrial and mixed-use developments.Over the past several years, MTB Partners has focused its efforts as a preferred

development company for a select group of national retailers. Specifically, MTBPartners has been filling this role in Michigan for clients such as Walgreen Co., RubyTuesday restaurants and Buffalo Wild Wings Grill & Bar. These services have been allinclusive from start to finish throughout the development process beginning with landacquisition. MTB Partners performs build-to-suit, as well as, fee development projects.

The members of MTB Partners also have a unique insight from a businessowner/retailers perspective based on the fact that the principals of MTB are alsofranchisees for Buffalo Wild Wings Grill & Bar. With their Operating Partner, JK&TWings, Inc, the principals of MTB currently own and operate eleven (11) locations withUS$40,000,000 in sales and 700 employees making our franchise group one of the largest

in the country. The current restaurants are located in Michigan, Illinois, andMassachusetts.

The principals have a wide variety of real estate development, finance, leasing,investment sales, brokerage and management experience and have been working togetherfor nearly 20 years. A brief resume of each is found below. Further information isavailable upon request.

Michael T. Bailey

Michael T. Bailey founded MTB Partners in 2001 after co-founding another

development company, Bailey, Schmidt & Associates in 1993. Mr. Bailey has engagedin the development of various real estate projects throughout the state of Michigan,Illinois and Maryland, and Massachusetts. Projects involve land and buildingdevelopment of all product types, including office, industrial, hotel, apartments,restaurants and retail. Prior to 1993, Mr. Bailey was the Director of Finance for aMichigan based real estate development company and was a commercial real estateappraiser (fee appraiser) for 2 years.


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Mr. Bailey has a great deal of experience with national retail organizations. MTBPartners has been a Preferred Developer for Walgreen Co. for 10 years. (Walgreen Co.is the nations largest pharmacy with over 7,000 stores and over $60 billion in annualsales). Mike was appointed in 2004 as the real estate representative for the franchisees ofBuffalo Wild Wings Grill & Bar restaurant chain, which is a 650-unit fast casual sports

themed restaurant. He sat on the Architectural Standards Committee of Buffalo WildWings and now is a member of the Buffalo Wild Wings Advertising Committee. Heholds an undergraduate of degree from Michigan State University (1985) and attendedMichigan State Universitys MBA program in 1988/89.

Harry G. KokkinakisDirector of Development

Harry G. Kokkinakis has been in the commercial development business for over20 years. He served as Vice President of Talon Development Group until 1999, where hewas responsible for all aspects of project development including site acquisition,

feasibility studies, governmental approvals, architectural design and construction. Mr.Kokkinakis has developed buildings for many national retailers including Kmart, HomeDepot, Circuit City, Office Depot, etc. In addition, he has vast experience in thedevelopment of restaurants, shopping centers, multi-family residential and land.

Harry received a Bachelor of Architecture degree from the University ofCincinnati in 1981. Following graduation he worked for 3 years as an Architect in theDesign Department of Skidmore, Owings & Merrill New York. He then attended theUniversity of Michigan where he received a Master of Business Administration degree in1986. Harry is a Registered Architect in Michigan and Ohio. He also holds a State ofMichigan Real Estate Broker License.

Patrick T. LennoxDirector of Property Management

Mr. Lennox is the Director of Property Management for MTB Partners and isresponsible for the day-to-day management functions for both company ownedproperties, as well as properties under management for third-party owners. He has anundergraduate degree from Michigan State University (Finance 1987). He served as afinancial analyst for a commercial development firm before joining Cushman &Wakefield in the Financial Services Group in 1988. Mr. Lennox then became a staffappraiser for Cushman & Wakefield before joining Mike Bailey in 1994.

In addition to his property management responsibilities, Pat has engaged in thedevelopment of various commercial projects throughout the states of Michigan, Illinoisand Maryland over the past 16 years. Projects involved land and building developmentof all product types, including restaurants, office, industrial, hotel, apartments and retail.


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Project PortfolioMTB Partners

Retail Projects Size (SF) Location Development Cost

CVS/City Center Retail/Condos 39,000 E. Lansing, Michigan $11,000,000

Barnes & Noble/CCII 100,000 E. Lansing, Michigan $8,000,000

City Center Parking Structure 700 cars E. Lansing, Michigan $14,000,000

Silver Pointe S/C 90,000 Fenton, Michigan $9,000,000

Taylor Retail Center 250,000 Taylor, Michigan $21,000,000

Walgreens Pharmacy 14,820 Traverse City, Michigan $4,100,000

Walgreens Pharmacy 14,820 Walker, Michigan $5,100,000

Walgreens Pharmacy 15,120 Eastpointe, Michigan $4,000,000

Walgreens Pharmacy 15,120 Taylor, Michigan $4,400,000

Walgreens Pharmacy 15,120 Clinton Twp., Michigan $4,600,000

Walgreens Pharmacy 14,490 Adrian, Michigan $3,600,000

Walgreens Pharmacy 15,120 Battle Creek, Michigan $4,200,000

Walgreens Pharmacy 14,490 Kalamazoo, Mich. $3,700,000Walgreens Pharmacy 14,490 Rochester Hills, Mich. $5,300,000

Walgreens Pharmacy 14,820 Jackson, Michigan $4,365,000

Walgreens Pharmacy 14,820 Wyandotte, Michigan $4,500,000

Walgreens Pharmacy 14,820 Kentwood, Michigan $2,200,000

Walgreens/Starbucks/Retail 27,620 Lincoln Park, Michigan $11,000,000

Kmart 94,000 Forest Park, Ohio $10,000,000

Kmart 94,000 Batavia, New York $10,000,000

Gander Mountain 60,000 Taylor, Michigan $4,500,000

Ruby Tuesday Restaurant 5,600 Westland, Michigan $3,000,000

Ruby Tuesday Restaurant 5,800 Allen Park, Michigan $1,500,000

Ruby Tuesday Restaurant 5,600 Saline, Michigan $2,100,000

Ruby Tuesday Restaurant 6,125 Plymouth, Michigan $1,650,000

Buffalo Wild Wings Restaurant 7,000 Danvers, Massachusetts $2,000,000

Buffalo Wild Wings Restaurant 6,595 Saugus, Massachusetts $1,800,000

Buffalo Wild Wings Restaurant 6,800 Leominster, Mass. $1,700,000

Buffalo Wild Wings Restaurant 7,150 East Lansing, Michigan $700,000

Buffalo Wild Wings Restaurant 6,400 Warrenville, Illinois $3,200,000

Buffalo Wild Wings Restaurant 6,400 Woodridge, Illinois $3,250,000

Buffalo Wild Wings Restaurant 6,400 Hagerstown, Maryland $1,800,000

Buffalo Wild Wings Restaurant 6,400 Westminster, Maryland $1,600,000

Buffalo Wild Wings Restaurant 5,900 Midland, Michigan $1,600,000Buffalo Wild Wings Restaurant 6,400 Monroe, Michigan $2,500,000

Buffalo Wild Wings Restaurant 6,400 Bay City, Michigan $1,000,000

Buffalo Wild Wings Restaurant 6,400 Naperville, Illinois $1,100,000

National City Bank-Ground Lease 1.10 acres Allen Park, Michigan $750,000

7ElevenGround Lease 1.20 acres Macomb, Michigan $550,000


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Project PhotosMTB Partners

CVS/Mixed UseEast Lansing, Michigan Cold Stone CreameryEast Lansing, Michigan

Douglas J Day Spa and SalonEast Lansing, Michigan City Center Parking Structure/RetailEast Lansing,Michigan

Ruby TuesdayAllen Park, Michigan WalgreensRochester Hills, Michigan


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Media PlayTaylor, Michigan Buffalo Wild WingsWarrenville, Illinois

Rio BravoTaylor, Michigan Ruby TuesdayPlymouth, Michigan

Burger KingClinton Township, Michigan WalgreensLincoln Park, Michigan


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Visser Brothers Development/ConstructionGrand Rapids, Michigan

Visser Brothers Development Company, and its affiliate Visser BrothersConstruction, were founded in 1960 in Grand Rapids, Michigan by three brothers, BruceVisser, Dale Visser and Jack Visser. Born out of education, experience and interest inconstruction and engineering, the three brothers began with their first project out of asmall office and have built a highly respected development and construction firm.

The company is still managed and operated by these three brothers as it has beenfor the past 50 + years. In addition, Visser has been able to keep many of its key

employees for a long period of time such that the average length of service isapproximately 17 years. This level of stability has led the company to experience a highlevel of respect within the State of Michigan and the Midwest. Visser continues to offerits expertise through fair and consistent business dealings that so many clients highlyvalue. It is very common for new business relationships to develop based upon word ofmouth recommendations from past clients.

For a more complete description of Visser Brothers, please see the CompanyOverview/Brochure contained later in this proposal (section 10) or visit them on theirwebsite at www.visserbrothers.com.

Vissers projects have spanned a wide array of product type and location.Projects include hotels, retail, industrial, office and medical. Below are the resumes ofthe principals that will be involved in the proposed PARK VILLAGE development,followed by an overview of some of the recent projects completed by Visser.


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Bruce VisserCEO / Project Manager

Bruce started with Visser Brothers in 1960, and in 1978 assumed the duties of Presidentand Corporate Officer of Visser Brothers, Inc. He is responsible for coordinating and

completing approximately $20 million of commercial construction annually.Responsibilities range from Quantity Take-Off and Bid Analyzing to Value Engineeringand Project Negotiation. Bruce also performs daily on-site inspections of the buildingprocess to insure proper communication between office and field operations. Using hisfield experience in construction, Bruce has the ability to anticipate and solve manypotential problems before they arise.

Professional Profile: Over 50 years in the construction industry emphasizing commercial, institutional, and

industrial construction and development.

Oversaw all projects on the following pages. Corporate Officer / Owner / Partner in the following companies:Visser Brothers, Inc.

Visser Development IIAtrium AssociatesSaddleback AssociatesDBV, Inc.E & B PartnershipWalker Village DevelopmentB & B DevelopmentWest Shore PinesTwentyFive South Division

Educational Background: Bachelors Degree in Civil Engineering from the University of Michigan.


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Bill MastPresident / Project Manager

Bill joined Visser Brothers, Inc. in 1995 as a project engineer, responsible forquantity take-off, assembling bids, value engineering, and project negotiation. In 1996,

he was promoted to Vice President, and in 1999 to President, where he maintains hisprimary responsibilities as a project manager, from negotiating contracts to conductingdaily on-site inspections to evaluate progress and ensure that all trades coordinate theirefforts and resources for timely and efficient completion. Bill has also assumedresponsibilities for human resource management, marketing, computer systems, andfinancial planning.

Professional Profile:Recent Projects Include: The B.O.B, 20 Monroe Warehouse Renovation, including addition US Xchange Office Renovations / Buildout 44 Grandville / Market Square Restoration Project Manager for the new David D. Hunting Downtown YMCA Riverfront Plaza Building Addition & Crowe Chizek Offices Complete Reconstruction and Renovation of Centerpointe (formerly Eastbrook) Mall. Betten Imports Auto Dealership West Michigan Regional Cancer and Blood Center DeWinter & Craig Office Renovations / Buildout 770 Kenmoor Professional Building 655 Kenmoor Professional Building 630 Kenmoor Professional Building 625 Kenmoor Professional Building Amoco/BP Gas Station Convenience Store and Car Wash (4 locations) Heritage United Methodist Church Directed In-House Computer System Overhaul/UpgradeEducational Background:

Master of Business Administration from Duke University, May of 1995, with anemphasis on Operations and Finance Management.

Bachelor of Science in Mechanical Engineering from The University of Texas,December of 1991.

Bachelor of Arts in the Plan II Honors Program from The University of Texas, May of1992.

Professional Associations

Board of DirectorsAssociated Builders & Contractors City of Grand RapidsConstruction Code Board of Appeals Certified MDEQ Storm Water Operator


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Recent Major Project Portfolio-Visser

Projects Size (SF) Location Development Cost

Newaygo Business Center 26,000 Newaygo, MI $2,200,000

Jared Jewelry 6,300 Kentwood, MI $1,000,000Calvin School 12,300 Grandville, MI $1,100,000

Menards Distribution Center 1,170,000 Holiday City, OH $20,000,000

Cornerstone Seminary 6,500 Grand Rapids, MI $1,200,000

Country Inn & Suites 150 rooms Grand Rapids, MI $10,100,000

Mercantile Bank HQ 50,000 Grand Rapids, MI $8,000,000

Riverfront Plaza Building & Parking Structure 45,000 Grand Rapids, MI $15,000,000

625 Kenmoor Office Bldg. & Parking Structure 148,000 Grand Rapids, MI $20,000,000

David Hunting YMCA 163,000 Grand Rapids, MI $22,000,000

Rockford Christian School 72,000 Rockford, MI $7,400,000

Centerpointe Mall (addition in 2012) 750,000 Grand Rapids, MI $13,000,000

Breton Village Mall Grand Rapids, MI

Menards 200,000 Mt. Pleasant, MI $5,000,000

Dicks Sporting Goods 75,000 Grand Rapids, MI

Menards 200,000 South Huron, MI $5,000,000

Menards 200,000 Holland $5,000,000

Menards 200,000 Ionia $5,000,000

Menards 200,000 Warsaw, IN $5,000,000

Menards 200,000 Quincy, IL $5,000,000

SpringHill Suites 100 rooms Cascade, MI $8,000,000

Hampton Inn 100 rooms Cascade, MI $7,000,000

Marriott Residence Inn 100 rooms Holland, MI $7,500,000Holiday Inn Express Grandville, MI $6,000,000

Residence Inn 100 rooms Grand Rapids, MI $8,500,000


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Project Photos-Visser

Huntington YMCAGrand Rapids, Michigan Fifth Third BankWestern Michigan

Mercantile BankGrand Rapids, Michigan Kenmoor Office BuildingGrand Rapids, Michigan

Riverfront PlazaGrand Rapids, Michigan MenardsWestern Michigan


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Breton Village MallGrand Rapis, Michigan Hampton InnCascade, Michigan

Country InnGrand Rapids, Michigan Red Ball Cafe


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Hospitality ServicesJacksonville, Illinois

Hospitality Specialists, Inc.s corporate management team has a combined 150years of experience in the hospitality industry. We believe that gives our company aleading edge in providing key leadership responsibilities to ensure success. HospitalitySpecialists, Inc. offers a variety of services to support the hotels, including accounting,payroll, capital improvements, renovations and operations.

Hospitality Specialists, Inc. provides centralized accounting services using M3accounting software for all hotels it manages, resulting in lower administrative payroll

cost to the hotel and more accurate, informative and timely financial information. Thecentral accounting office closely monitors daily accounting reports, supervises payrollprocessing, prepares monthly Profit & Loss statements, prepares monthly bankreconciliations, files sales and use tax returns, pays all invoices and manages hotel cash.

The development department handles new construction projects as well as allcapital improvements and renovations. The team has extensive experience in thecoordination of large and small projects and well as working with various brandrequirements and local ordinances.

Hospitality Specialists, Inc. has vast experience in the operations department with

budget creation, implementation and carefully setting and monitoring meaningful costcontrols. The reporting and review structure incorporate budget information andforecasting to provide a proactive approach. All line items on the budget are monitoredfrom payroll to sales to maintenance to administration. Sales & Marketing are key areasof support to create the blueprints for revenue generation. Rate maximization viaRevenue Management/Yield Management is an integral part of our operations strategy.The company is well-versed in all areas of personnel regulations dealing with issues, suchas Cobra, FMLA, ADA, OSHA, and Labor Law. Hospitality Specialists, Inc. provides,and encourages, on-going training opportunities.

Hospitality Specialists, Inc. is recognized as a highly qualified and experienced

hotel operator by the Hilton Hotel Corporation; Marriott International, Inc.; Inter-Continental Hotels; Wyndham; Starwood Hotels & Resorts Worldwide; the CendantCorporation; and the Hyatt Corporation.


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Specific limited Service Hotels under management include;

Hampton Inn Spring Hill SuitesDouble Tree Country InnResidence Inn CourtyardFairfield Baymont Inn and Suites

Hilton Garden Inn Homewood Suites

The principals of the organization are as follows:

John A. MannJohn A. Mann serves as President and Chief Executive Officer for the company.

He received a B.S. degree from the University of Illinois at Champaign-Urbana and aJ.D. degree from the University of Illinois, College of Law. He had extensive civillitigation and labor law experience, prior to entering the hospitality business with hisbrother.

James L. MannJames L. Mann serves as Vice President and Chief Financial Officer for thecompany. He is the brother of John A. Mann and is a graduate of the University ofIllinois and the University of Illinois, College of Law. In addition, James L. Mannbecame a CPA in 1972. He has extensive tax and business planning experience.

Angela MannAngela Mann serves as Vice President of Operations. Ms. Mann oversees the

Michigan field office, supervises the operation department and has company-wideresponsibility for sales & marketing, human resources, revenue management, companyprograms, training, and pre-opening responsibilities for new hotels, specifically sales and

marketing and operations. She previously held other company positions including,General Manager, Director of Operations/Training, Regional Director of Operations andSr. Director of Operations. Ms. Mann graduated from the University of Illinois with adegree in English and Rhetoric and a minor in Spanish.

Rae RichardsonRae Richardson serves as Vice President of Construction and Renovation. Mrs.

Richardson has extensive experience in hotel construction and new hotel openings. She isone of the companys consultants to owners, architects, engineers, contractors, andvendors for new development projects; and she serves as liaison between projectassociates and franchisor representatives during the development and construction

process. She is responsible for all aspects of hotel construction for Hospitality Specialists,Inc., including site planning, procurement and installation of furniture, fixtures, andequipment, and the selection and implementation of operating systems. In addition, Mrs.Richardson is responsible for all renovations and FF&E replacements that are completedat Hospitality Specialists, Inc. hotels.


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PROJECT HISTORY

The partnership development team is comprised of several very experienced commercialreal estate developers that have relevant experience with the type of urban mixed-usedevelopment that is being contemplated in the City of East Lansing.

The development team is a partnership between two developers, that individually couldstand on their own in terms of ability to get this type of development completed, but itwas felt that the combination of these two groups would make it an even stronger teamand bring about synergy that will make this an even more successful development.

With regard to experience with this type of project, MTB Partners has direct experiencewith a development very similar to the proposed project by virtue of the companysinvolvement in the original City Center project in East Lansing. MTB Partners is/was a50/50 joint venture partner/owner of the City Center I development. This projectinvolved a mixed-use development that included retail, residential, office and parking.

The total investment in this project was approximately $25,000,000.

Additionally, MTB Partners is involved with the City Center II project. This is anadaptive re-use of the formerJacobsons Department store into a mixed-use building with2 floors of retail space and 2 floors of office use. This project had an investment ofapproximately $11,000,000.

A pictorial of each of these projects is found below.


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CITY CENTER IEast Lansing, Michigan

Mixed Use Urban Development/Re-development - $25,000,000

700 Car Parking Structure 39 Residential Condominiums 35,000 SF Retail

$1.4 Million Tax Credits (1stBrownfield Tax Credits in State of Michigan) Tenants: Buffalo Wild Wings, Cosi, CVS, Cold Stone Creamery


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CITY CENTER IIEast Lansing, Michigan

Urban Development/Adaptive Re-use - $11,000,000

Former Jacobsons Department Store 50,000 SF 1stFloor and lower level Retail (formerly Barnes & Noble) 44,000 SF of 2ndand 3rdFloor Office Space $800,000 in Tax Credits

Although the above examples have been highlighted as successful urban mixed-use

developments, MTB Partners have been involved in many other developments that lendexperience to the proposed development. Many of them can be found in our companybrochure found at the end of this proposal, but in general, MTB Partners has been aprincipal and developing over $100 million worth projects over the past 12 years

Visser Brothers is also imminently qualified to complete a development such as this.They have worked on several projects over the last few years that have required aninvestment well over $20,000,000. Visser Brothers currently owns properties in excessof 4 million square feet. The company owns several mixed-use projects including theCenterpointe Mall in Grand Rapids, Michigan, a portion of which has retail and officecomponents in a 2-story building. In addition, the company owns several urban

buildings, including the Riverfront office building with underground parking. TheRiverfront Building is a 45,000 square foot office building along the Grand River inDowntown Grand Rapids. The project includes parking underneath in a multi-storyparking structure. Visser successfully navigated the challenges of developing awaterfront, mixed-use facility in an urban environment.


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FINANCIAL CAPACITY

The partnership is very well capitalized and very capable of meeting the financialneeds of the project. In order to satisfy the City that the partners have the financial

wherewithal to complete the project, the partners are happy to provide confidentialdetailed financial information to select City officials. We respectfully request that thisconfidential information not be shared with any other parties and it is our assumption thatno hard copies of any information will be given out. The partners will make theinformation available to the City Attorney, City Financial Manager and/or City Managerto review at the offices of our accountants, with the understanding that no informationcan be taken from the accountants office by the City officials.

In addition to the personal information that the partners are willing to share withselect City officials, the partners welcome you to contact the following lendingrelationships/references:

MTB PARTNERS References:

Fifth Third BankDave GirodatPresident (SE Michigan)Michael Erfourth-Vice President1000 Town Center DriveSuite 1400Southfield, Michigan 48075

Phone: 248.603.0628

Talmer Bank & TrustMichael Bontumasi2301 W. Big Beaver roadSuite 525Troy, Michigan 48084Phone: 248.644.2170

American National Insurance CompanyDenny Fisher/Bob Kirchner

2525 South Shore Blvd.Suite 207League City, Texas 77573Phone: 281.538.4807


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VISSER References:

Fifth Third Bank

Ron Foor111 Lyon NEGrand Rapids, Michigan 49503Phone: 616.653.5662

Mercantile BankMark Augustyn310 Leonard NWGrand Rapids, Michigan 49503Phone: 616.242.7794


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PROPOSED DEVELOPMENT

Please refer to the CONCEPTUAL SITE PLAN found on the next page as a reference to the following

discussion of the proposed development.

The proposed PARK VILLAGE development is intended to be a very high qualitymixed-use project that will meet the needs of the City of East Lansing and its residents,while simultaneously meeting the market demands of the area. In addition, the proposeddevelopment should create as much synergy as possible with Michigan State Universityand further the symbiotic relationship between the City and MSU. The greater theconnection between the City and MSU, the stronger these entities will be in the short andlong term. With the input of the community and with the guidance of the City of EastLansing Planning Department and Administrators, the goal is develop a meaningful,landmark project that will set the standard for future developments in the City.

The project will be constructed of very high quality materials. Careful attention to detailis paramount and the buildings will be architecturally designed to be both highlyfunctional and aesthetically pleasing. The architecture should reflect the values of thecommunity and should be designed in a timeless manner. The design will be mindful ofthe communitys desire for a low-impact project, and innovative measures will beconsidered in designing the infrastructure improvements to improve the current water andsewer system in the area. Decorative Streetscapes and pedestrian friendly amenitieswill be incorporated into the overall design.

With the above goals in mind, the proposed development will consist of the following:

HOTEL-100 room limited service flag/chain hotel along Abbot Road.PARKING DECK-360 car parking structure.

RESIDENTIAL- 80 residential rental units.RETAIL-15,000 square feet of retail space (primary goal is to attract an urban grocer).FUTURE DEVELOPMENT PARCEL- (i.e. senior housing, community theater).GREEN SPACE/CULTURAL SPACE(i.e. farmers market, outdoor gathering, concertstaging area, art displays).OTHER USES(office, restaurant).ALBERT STREET EXTENSIONNEW PARK ENTRANCEcreate a new entrance north of, and adjacent to the AT&Tbuilding.


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HotelThe proposed hotel is to be a 5 story, 100-room nationally flagged limited service hotelthat will be owned and operated by the development partnership. As discussed in the

resume portion of the proposal, the ownership group has a great deal of experience inconstructing, owning and managing hotel properties throughout central and westernMichigan, and would like to add a new hotel to the CBD of East Lansing. The hotelwould be connected to the proposed parking deck via a skywalk on the second floor ofthe hotel. An agreement between the City and the hotel operators for spaces within thedeck will be discussed during the pre-development phase.

Parking DeckThe proposed development will need to have adequate parking. It is anticipated that thedeveloper will construct a parking deck along Evergreen Avenue that will be 3 stories in

height and contain approximately 360 parking spaces. The parking deck will be built intothe slope of the existing hill abutting the public alley and when viewing it from AbbotRoad, the deck will visually appear to be much smaller (in height) than it actually will be.This design will allow the developer to place residential housing upon the deck structure.It is assumed that the developer will construct the public parking structure on behalf ofthe City of East Lansing and the City will ultimately own and operate the parkingstructure. The details of this arrangement will presumably be discussed in the pre-development process. Consideration may be given to first floor retail/restaurant spacewithin the deck. Additionally, the developer will work closely with the City in designingthe ultimate size of the deck. The size may increase based on the Citys anticipation offuture demand based on the possible development of other parcels in the area.

Residential RentalThe residential portion of the project will be constructed on top of the parking deck andwill be for rent to a mixed-market and/or student oriented housing. Market demand willdictate the ultimate tenancy. Obviously, there appears to be high demand for high qualitystudent housing units. Should student housing become a component of the proposeddevelopment, the developer will work with the City to determine the highest and best usein terms of design. The developers believe that the design of the building and layout ofthe units may be most conducive to graduate students and/or international students. Thismay be accomplished through providing certain services and amenities that may appeal tocertain groups more than others.

RetailThe proposal contemplates 15,000 square feet of first floor retail space, which will belocated along Abbot Road. Based on the site constraints, it appears that the retail will benested under a portion of the hotel which will span over the retail building. Our target isto attract an urban grocer. A mid-western grocery chain (that has targeted college towns)


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has recently expressed interest in locating in downtown East Lansing. This grocer madeinquiries to locate in the Barnes & Noble Building along Grand River, but due to thebuilding constraints (and the economic realities) of that competitive building, the usercould not be accommodated. The developer will work with the City to attempt to attracta grocery user. In the absence of a grocery store, the developer has been in contact with 2

national retailers totaling approximately 14,000 square who have expressed an interest inthe CBD. Restaurant uses will certainly be considered. Several smaller users will beconsidered as well such as coffee shops and local retail establishments.

Future Development Parcel/Green SpaceThe term Future may be an inappropriate term, since the intent is to not necessarilywait to develop this portion of the site, but rather to ascertain demand thru the duediligence process to assess the best use of this parcel. For example, it may be for seniorhousing that takes advantage of the park views. Additionally, the developer should vetout the possibility of the Wharton Theater still having an interest. Consideration shouldalso be given to the public desires for an outdoor concert area, local artist displays or

other cultural activities/opportunities.

The area identified as Green Space should also be reviewed to assess communitydesires. The public roundtable discussion as outlined on Exhibit B of the RFQ clearlydemonstrates the diverse and often conflicting desires of the citizens. As such, propertime should be allowed to consider all the possible uses proposed in the meetings,provided they are appropriate and complementary to the Park Village development.

Albert Ave./Albert StreetThe proposed development contemplates that Albert Street, west of Abbot, would remainin its As-Is condition. Previous development discussions involved an expansion andrealignment of the road, but given the finite amount of frontage along Abbot Road, thereis not enough room to expand the road and have any meaningful frontage to develop. Analternative main entrance point is discussed below. The hotel and retail components needto be developed along the frontage. The existing drive would still allow vehicular traffic,and will also serve as a dropoff area for the proposed hotel. The second floor of thehotel is proposed to span the driveway.

Other UsesSeveral other user groups, such as office, will be considered as part of the development.Based on the developers experience in the marketplace, by virtue of its ownership interestin other buildings in the CBD, it appears that demand for office space has increased overthe past 12 months. Office users are particularly attractive due to the job creation and thepresence of office workers, which increase the daytime population in the area. Theseworkers will presumably patronize the local retailers and restaurants.


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New Park EntranceGiven the desire of the City to have a better connection point into the existing park, weare proposing that consideration be given to the possibility of creating a connection roadthrough the existing municipal parking area located north and adjacent to the AT&Tbuilding. The parking lot would be re-built into a pedestrian walkway and 2-lane

vehicular road. This appears to be a natural connection to the main body of the park. Theroad could be complemented with wide sidewalks and landscaped to promote apedestrian friendly corridor.


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VISION STATEMENT

The developers will collaborate with the City of East Lansing representatives on a planpreliminarily referred to as Park Village which is intended to be a class A mixed-useurban development intended to meet the needs of the people of the City of East Lansing

as well as the surrounding areas. Particular attention will be paid to the needs of theresidents of the community and further solidify a symbiotic relationship with MichiganState University. From a design standpoint, the developer will attempt to minimize theenvironmental impact of the project while keeping green practices in mind.

The project will anchor the west end of the downtown and broaden the appeal of theCBD. Unfortunately, the finite parcel of land that is contemplated in this RFQ limits thescope and size of this development, however, the hopeful intended consequence is thatPark Village will be a catalyst for other developments in the downtown and inspireother property owners to help create a more synergistic CBD with diverse, yetcomplimentary users.


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BUDGET ESTIMATES:

With the understanding that the conceptual plan is VERY conceptual, and that the finaldevelopment may vary from what is initially proposed, the following budget and Sourcesand Uses of funds presented below is predicated on the fact that the developers have

performed little due diligence on the property.

Additionally, the budget does not reflect a land price. The land is currently owned andcontrolled by the City of East Lansing. The developer understands that the City of EastLansing would like to recoup as much of its investment of $5.6 million, however, untilthere is a mutual understanding of the size, scope and density, it is difficult to estimatethe value of the land, and therefore, placing a budgeted cost for the land into the proposedbudget would be highly speculative at this juncture.

As such, the following budget is based on hard costs and soft costs only, and do notconsider the cost of land. These estimates are based on the developers experience with

recently completed projects that have similar uses. The developers will be happy toprovide detailed line item cost breakdowns of each component of the development, butfor purposes of this proposal, we have provided a broad brush approach. Obviously,the actual costs may vary and will be based on final plans and will be highly dependenton the design (particularly the parking) and materials used in the project.

Component Units/Size Estimated CostsLand 2.88 Acres UnknownInfrastructure 2.88 Acres $1,500,000Sitework 2.88 Acres $1,200,000Hotel Building 100 Units $8,000,000

Residential -Rental 80 units $9,000,000Retail 15,000 SF $3,000,000Parking 360 spaces $7,200,000Senior Housing 80 Units $9,000,000Green/Public Space $1,000,000Total $39,900,000Less Cost of Parking Structure ($7,200,000)Net Project Cost to Developer $32,700,000 (excluding land)

Sources of FundsCash / Equity $8,175,000

Loans $24,525,000Total Sources $32,700,000

Uses of FundsNet Project Costs $32,700,000


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PARKING STRUCTURE / DEMAND:

The development team has analyzed the overall general parking requirements for theproposed development. This analysis looked at the demand requirements for eachspecific use within the proposed development in that each use has different parking

specifications.

A summary of the finding of this analysis are as follows:

Preliminary Parking Analysis

Use Parking Ratio Units/Size Spaces RequiredHotel 1.05 spaces/room 100 rooms 105

Residential 1.5 spaces/unit 80 units 120

Retail 4 spaces/1,000 SF 15,000 SF 60

Other estimate depending on use type 75Total Spaces Required 360

This analysis utilized Carl Walkers estimates for parking usage for each type of space based on the analysis the Walker firm did for the now-defunct City Center project. TheWalker information was supplied on the City of East Lansing website.

This analysis only examines the specific uses of the proposed development and does notforecast future demand of the immediate area. It is the hopeful intent that the proposedPark Village development will spur on additional activity in the area and result inadditional parking requirements. Neighboring properties may be developed and/or

redeveloped in the future and put additional requirements on the area parking. As such, itis recommended that the size of parking structure component be evaluated thoroughlythrough the pre-development phase as to be prepared for possible additional parkingspace requirements.


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VISSER BROTHERS COMPANY BROCHURE:

Visser Brothers Company brochure was sent to Lori Mullins under separate cover viaovernight mail on 2-7-2013.


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100 Room

5-StoryHotel

15,000 sq.

ft. Retail

Elevated Parking

Stucture Connection

3-Story Parking

Structure

(approx. 360

spaces) 80

Units of

Residential

Above

Proposed Public Areas and

Green Landscape Area

(i.e. Farmers Market)

Future

Development

Parcel

(i.e. Senior Housing,

Performing Arts

Center, Community

Center)

Proposed new road and pedestrian

walkway to park area

Existingroad to

remain

as is

PARK VILLAGE

CONCEPTUAL PLAN


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BUILDINGO

NO

UR

REPUTATION.

255 E. Brown Street, Suite 105Birmingham, Michigan 48009(248) 594-8500 phone(248) 594-8536 facsimileReal Estate Developers, Investors &Property Management


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MTB

LEADERSHIPGROWTHDIVERSITY.

Mission.Blending an entrepreneurial spirit with professional management, MTB Partners vigorously pursues

all areas of real estate development and acquisition opportunities with the goals of creating and enhancing

market value, diversifying its portfolio of properties, and building on its reputation for integrity and excellence

within the industry. Of particular interest is a desire to capitalize on the current market conditions and

purchase underperforming assets and thru a mixture of re-tenanting, re-positioning and/or change in use,

maximize value and create solid returns.


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BUILDINGO

NO

UR

REPUTATIO

N.

Profile.MTB Partners is a multi-faceted real estate operation whose experience encompasses the entire

development spectrum: from site identification, to building, financing, managing and leasing properties. From start tofinish, MTB Partners projects are marked by exceptional expertise, high standards and attention to detail.

Founded in 2001, MTB Partners was created as a multi-faceted real estate firm focusing on income-producing

properties, particularly retail, office, industrial and mixed use developments. Over the past several years, MTB

Partners has focused its efforts as a preferred development company for a select group of national retailers.

Specifically, MTB Partners has been filling this role in Michigan for clients such as Walgreen Co., Ruby Tuesday

restaurants and Buffalo Wild Wings Grill & Bar. These services have been all inclusive from start to finish throughout

the development process. MTB Partners performs build-to-suit as well as fee development projects.

The members of MTB Partners have a unique insite from a business owner/retailers perspective based on the

fact that the principals of MTB are also franchisees for Buffalo Wild Wings Grill & Bar. With their Operating Partner,JK&T Wings, Inc, the principals of MTB currently own and operate thirty (30) locations with US$85,000,000 in sales

and 2,100 employees making our franchise group the largest in the country. The current restaurants are located in

Michigan, Lousiana and Illinois. In addition, we recently signed an Area development Agreement with Buffalo Wild

Wings International to own and operate up to 10 new locations in the greater Boston area over the next 3 years.


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Owning and operating our own restaurants provides the principals of MTB Partners a unique perspective in

understanding what is important to restaurant operators/owners in terms of site selection and how meaningful it is for

those representing the owners to do so in a professional and diligent manner. As a result of this, we are acutely

aware of the importance of site selection and treat each transaction as if it were our own.


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MTB

OURMARKETFOCUS.

.Focus.MTB Partners specializes in build-to-suit transactions with national retailers and also in the

acquisition, development and ownership of institutional, investment-grade, income-producing properties.

Careful research and identification of opportunities to create value for sale on the open market have resulted

in a development portfolio that has included all types of properties including retail, restaurants, office, mixed-

use urban development and apartments. Whether small or large, local or national, MTB Partners manages

each project with its unique needs in mind. MTB Partners standards for project selection and close attention

to detail are the performance hallmarks of the company.


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MTB

A

FULL

RANGE

OF

SERVICES

AN

D

RESOURCES.

Versatility.MTB Partners has the resources and experience to offer all of the following services:

ACQUISITION. MTB Partners uses its expertise and experience to successfully identify, research,

negotiate and acquire well-positioned properties for development and redevelopment by anticipating market

trends.

DEVELOPMENT. From business developments to restaurants, MTB Partners has an excellent record of

transforming real estate into quality, value-added offerings. From obtaining all municipal entitlements to

finalizing a build-to-suit, MTB Partners handles all projects with the utmost diligence.

BROKERAGE. Whether networking with the national brokerage community or working directly with and

acquiring property for individual clients, our staff is experienced at assembling thriving developments and

leasing, marketing and brokering completed projects.


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MTB

A

FULL

RANGE

OF

SERVICES

AND

RESOURCES.

PROPERTY MANAGEMENT. MTB Partners employs a proactive approach to increase asset values and

maximizes returns in managing the overall operations and financial assets of properties and investments.

Utilizing in-house accounting expertise with state-of-the-art accounting and management software, MTB

currently performs third party management for several organizations including banks and fortune 100

companies. MTB Partners treats all assets as if they are their own.

MARKET STUDIES/SITE SELECTION. MTB Partners is very experienced in performing market analyses

and site selection for retailers and restaurateurs. Utilizing demographic software, traffic patterns, identifying

physical and psychological boundaries, MTB analyzes markets and trade areas to identify the proper sites

based on a particular owner/tenants requirements.


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MTB

SINGLESOURCE.TEAME

XPER

TISE.

Balance.From start to finish, MTB Partners provides single-source expertise via its team of experienced

professionals. Our guiding philosophy of entrepreneurism is balanced with the professional management

resources and support services of an established organization.

MTB Partners has achieved growth and stability throughout changing market conditions, and earned

respect within the real estate community. The professionals of MTB Partners have acquired, developed,

constructed and managed commercial properties worth more than $200 million over the past 18 years. With

a commitment to quality and integrity, MTB Partners is poised to continue building on its reputation for

growth and success.


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MTB

DEVELOPMENTPORTFOLIO.

Project Portfolio.Retail Projects Size (SF) Location Development Cost

CVS/City Center Retail/Condos 39,000 E. Lansing, Michigan $11,000,000

Barnes & Noble/CCII 100,000 E. Lansing, Michigan $8,000,000

City Center Parking Structure 700 cars E. Lansing, Michigan $14,000,000

Silver Pointe S/C 90,000 Fenton, Michigan $9,000,000

Taylor Retail Center 250,000 Taylor, Michigan $21,000,000

Walgreens Pharmacy 14,820 Traverse City, Michigan $4,100,000

Walgreens Pharmacy 14,820 Walker, Michigan $5,100,000

Walgreens Pharmacy 15,120 Eastpointe, Michigan $4,000,000

Walgreens Pharmacy 15,120 Taylor, Michigan $4,400,000

Walgreens Pharmacy 15,120 Clinton Twp., Michigan $4,600,000

Walgreens Pharmacy 14,490 Adrian, Michigan $3,600,000

Walgreens Pharmacy 15,120 Battle Creek, Michigan $4,200,000

Walgreens Pharmacy 14,490 Kalamazoo, Mich. $3,700,000

Walgreens Pharmacy 14,490 Rochester Hills, Mich. $5,300,000

Walgreens Pharmacy 14,820 Jackson, Michigan $4,365,000Walgreens Pharmacy 14,820 Wyandotte, Michigan $4,500,000

Walgreens Pharmacy 14,820 Kentwood, Michigan $2,200,000

Walgreens/Starbucks/Retail 27,620 Lincoln Park, Michigan $11,000,000

Kmart 94,000 Forest Park, Ohio $10,000,000

Kmart 94,000 Batavia, New York $10,000,000

Gander Mountain 60,000 Taylor, Michigan $4,500,000


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DEVELOPMENTPORTFOLIO.

Project Portfolio.Restaurant/Other Developments Size (SF) Location Development Cost

Ruby Tuesday Restaurant 5,600 Westland, Michigan $3,000,000

Ruby Tuesday Restaurant 5,800 Allen Park, Michigan $1,500,000

Ruby Tuesday Restaurant 5,600 Saline, Michigan $2,100,000

Ruby Tuesday Restaurant 6,125 Plymouth, Michigan $1,650,000

Ruby Tuesday Restaurant 5,850 Novi, Michigan $1,700,000

Ruby Tuesday Restaurant 5,600 Canton, Michigan $1,400,000

Burger King Restaurant 3,200 Clinton Twp., Michigan $1,200,000

Buffalo Wild Wings Restaurant 7,000 Danvers, Massachusetts $2,000,000

Buffalo Wild Wings Restaurant 6,595 Saugus, Massachusetts $1,800,000

Buffalo Wild Wings Restaurant 6,800 Leominster, Massachusetts $1,700,000

Buffalo Wild Wings Restaurant 7,150 East Lansing, Michigan $700,000

Buffalo Wild Wings Restaurant 6,400 Warrenville, Illinois $3,200,000

Buffalo Wild Wings Restaurant 6,400 Woodridge, Illinois $3,250,000

Buffalo Wild Wings Restaurant 6,400 Hagerstown, Maryland $1,800,000Buffalo Wild Wings Restaurant 6,400 Westminster, Maryland $1,600,000

Buffalo Wild Wings Restaurant 5,900 Midland, Michigan $1,600,000

Buffalo Wild Wings Restaurant 6,400 Monroe, Michigan $2,500,000

Buffalo Wild Wings Restaurant 6,400 Bay City, Michigan $1,000,000

Buffalo Wild Wings Restaurant 6,400 Naperville, Illinois $1,100,000

National City Bank-Ground Lease 1.10 acres Allen Park, Michigan $750,000

7 Eleven Ground Lease 1.20 acres Macomb, Michigan $550,000

Ruby Tuesday Ground Lease 1.25 acres Allen Park, Michigan $800,000


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NATIONAL

EXPOSURELOCAL

EXPERIENCE.

Retail Transactions.Media Play

Circuit City

Dicks Sporting Goods

Art Van

PetSmart

McDonalds

Kmart

Home Depot

Ruby Tuesday

Burger King

Hollywood Video

Little Professor Book Store

Coffee Beanery

Nationwide Insurance

H & R Block

Caribou Coffee

Sears Hardware

Office Depot

Barnes & Noble

CVS Pharmacy

Cosi

Subway

Payless Shoes

Sports Authority

Star Theatre

Kohls

F & M Drugstore

Advance America

Starbucks Coffee

Blockbuster Video

Buschs Value Land

LaSalle Bank

National City Bank

Walgreens

Buffalo Wild Wings

Gordon Food Service

Farmer Jack

7-Eleven

Pep Boys

Parti Giant

Factory Card Outlet

BoRics

Gander Mountain

JoAnn Fabrics

Rio Bravo

Cold Stone Creamery

Aveda/Douglas J. Salon-Spa


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HIGHS

TANDARDS

AND

ATTENT

IONT

OD

ETAIL.

Project Photos.

CVS/Mixed Use East Lansing, Michigan Cold Stone Creamery East Lansing, Michigan

Douglas J Day Spa and Salon East Lansing, Michigan City Center Parking Structure/Retail East Lansing, Michigan


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MTBHIGHS

TANDARDS

AND

ATTENTIONT

OD

ETAIL.

Project Photos.

Ruby Tuesday Allen Park, Michigan Walgreens Rochester Hills, Michigan

Media Play Taylor, Michigan Buffalo Wild Wings Warrenville, Illinois


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HIGHS

TANDARDS

AND

ATTENT

IONT

OD

ETAIL.

Project Photos.

Rio Bravo Taylor, Michigan Ruby Tuesday Plymouth, Michigan

Burger King Clinton Township, Michigan Walgreens Lincoln Park, Michigan


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Retailers.


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CITY CENTER IEast Lansing, Michigan

Mixed Use Urban Development/Re-development - $25,000,000

700 Car Parking Structure 39 Residential Condominiums 35,000 SF Retail $1.4 Million Tax Credits (1stBrownfield Tax Credits in State of Michigan) Tenants: Buffalo Wild Wings, Cosi, CVS, Cold Stone Creamery


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CITY CENTER IIEast Lansing, Michigan

Urban Development/Adaptive Re-use - $11,000,000

Former Jacobsons Department Store 50,000 SF Retail (Barnes & Noble) 44,000 SF Office $800,000 in Tax Credits


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GANDER MOUNTAIN (Former Phar-mor Drugs)Taylor, Michigan

Big Box Re-development of Vacant Building- $5,000,000

2 unit Retail Building 60,000 SF Retail Gander Mountain and JoAnne Fabrics


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WALGREENS PHARMACYLincoln Park, Michigan

3 Building Retail Development - $12,000,000

Freestanding Walgreens Freestanding Starbucks 12,800 SF Strip Retail Center $900,000 in Tax Credits


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MAPLELAWN TECH CENTERTroy, Michigan

Two-Building Tech Park Investment - $10,000,000

1031 Acquisition 90,000 SF of High-Tech/Industrial Space Sold to Car Dealership (Hummer)


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GRATIOT PARTNERSMacomb, Michigan

Re-development of a Drive-in Movie Theater - $7,000,000

Re-development of 23 Acre Drive-in Theater Sold 14 acres to Ford Dealership 7-Eleven Gas Station/C-Store Retail Outlot Parcel Manufactured Home Sales Outlot


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WALGREENSRochester Hills, Michigan

Freestanding Walgreens - $6,000,000

Unique 14,820 SF Prototype Part of Larger Mixed Use Condominium Development


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OUREXPERIENCEDPROFESSIONALTEAM.

Experience.The principals have a wide variety of real estate development, finance, leasing, investment sales, brokerage and

management experience and have been working together for nearly 20 years. A brief resume of each is found below. Further

information is available upon request.

Michael T. Bailey

Michael T. Bailey founded MTB Partners in 2001 after co-founding another development company in 1993. Mr. Baileyhas engaged in the development of various real estate projects throughout the state of Michigan, Illinois and Maryland. Projectsinvolve land and building development of all product types, including office, industrial, hotel, apartments, restaurants and retail.Prior to 1993, Mr. Bailey was the Director of Finance for a Michigan based real estate development company and was acommercial real estate appraiser (fee appraiser) for 2 years.

Mr. Bailey has a great deal of experience with national retail organizations. MTB Partners has been a PreferredDeveloper for Walgreen Co. for the past 8years. (Walgreen Co. is the nations largest pharmacy with over7,000 stores and over$60 billion in annual sales). Mike was appointed in 2004 as the real estate representative for the franchisees of Buffalo Wild WingsGrill & Bar restaurant chain, which is a 650-unit fast casual sports themed restaurant. He now sits on the Architectural StandardsCommittee of Buffalo Wild Wings. He holds an undergraduate of degree from Michigan State University (1985) and attendedMichigan State Universitys MBA program in 1988/89.

Harry G. Kokkinakis

Director of Development

Harry G. Kokkinakis has been in the commercial development business for over 20 years. He served as Vice President ofTalon Development Group until 1999, where he was responsible for all aspects of project development including site acquisition,feasibility studies, governmental approvals, architectural design and construction. Mr. Kokkinakis has developed buildings formany national retailers including Kmart, Home Depot, Circuit City, Office Depot, etc. In addition, he has vast experience in thedevelopment of restaurants, shopping centers, multi-family residential and land.

Harry received a Bachelor of Architecture degree from the University of Cincinnati in 1981. Following graduation heworked for 3 years as an Architect in the Design Department of Skidmore, Owings & Merrill New York. He then attended theUniversity of Michigan where he received a Master of Business Administration degree in 1986. Harry is a Registered Architect inMichigan and Ohio. He also holds a State of Michigan Real Estate Broker License.


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OUREXPERIENCEDPROFESSIONALTEAM.

Experience.Patrick T. Lennox Director of Property Management

Mr. Lennox is the Director of Property Management for MTB Partners and is responsible for the day-to-day managementfunctions for both company owned properties, as well as properties under management for third-party owners. He has anundergraduate degree from Michigan State University (Finance 1987). He served as a financial analyst for a commercialdevelopment firm before joining Cushman & Wakefield in the Financial Services Group in 1988. Mr. Lennox then became a staffappraiser for Cushman & Wakefield before joining Mike Bailey in 1994.

In addition to his property management responsibilities, Pat has engaged in the development of various commercialprojects throughout the states of Michigan, Illinois and Maryland over the past 16 years. Projects involved land and buildingdevelopment of all product types, including restaurants, office, industrial, hotel, apartments and retail. In addition, Mr. Lennox hasa great deal of experience with national retail organizations and has been the point person in the development of several RubyTuesday restaurants in Metro-Detroit.

Denise M. Julius Assistant Property Manager

Ms. Julius has been in the commercial real estate development business for more than 25 years. Her experience

encompasses all facets of office management, network administration, executive administrative assistance, property managementand accounting. She currently functions as the Assistant Property Manager, supporting Mr. Lennox in all areas of propertymanagement including tenant relations, lease administration, financial reporting and site maintenance.


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Michael T. Bailey(248) [email protected]

Harry G. Kokkinakis(248) [email protected]

Patrick T. Lennox(248) [email protected]

Denise M. Julius(248) [email protected]

255 E. Brown Street, Suite 105Birmingham, Michigan 48009(248) 594-8500 phone(248) 594-8536 facsimile


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City Center II — MTB Partners/Visser Brothers Development

Documents

Transcript of City Center II — MTB Partners/Visser Brothers Development