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2950 Lexington Ave - Parking Management Plan Eagan Sports ComplexCOMMERCIAL REAL ESTATE SERVICES August 3, 2010 Mr. Erik Slettedahl Community Development /GIS Specialist CITY OF EAGAN 3830 Pilot Knob Road Eagan, MN 55122 Dear Mr. Slettedahl, AUG TD)ECE \V7R y 2010 Via Email/U.S. Mail CBRE CB RICHARD ELLIS Re: Parking Management Plan/ Eagan Sports Complex aka MN Select / Lexington Business Center / 2950 Lexington Avenue, Eagan, MN 55121 As a follow -up to our conversation on July 30, 2010, I would like to present the following parking management plan and an explanation as to why the Landlord believes that the existing parking is adequate for the above tenant's use at the Lexington Business Center at 2950 Lexington Avenue. For reference purposes, I have attached a building site plan and tenant's permit plan. I would like to comment on the tenant's permit plan. The permit plan has represented that there are 355 total stalls that are available for parking. Of these 355 stalls, 125 are being designated to other existing tenants, which is leaving 230 stalls available. The plan goes on to explain that of the remaining 230 stalls, 194 will be needed, which will leave 36 as overflow. It is in the Landlords opinion, that the stated parking stalls available for the Tenant's use is greater than what is being represented in the permit plan. The enclosed building site plan represents that there are 345 stalls available. The 10 stall difference in the Landlord and Tenant's plans are primarily due to different architects and the measurements being used on their CAD drawings. For argument purposes, we will be conservative and use the Landlord's plan representing 345 stalls. Of these stalls, the following are encumbered by tenant's rights: Minneapolis Select Reserved Right - 52 Parking Stalls Florstar Sales Reserved Right - 46 Parking and Trailer Stalls 8000 W. 78t Street, Suite 190 Edina, MN 55439 952.835.1800 Tel 952.835.1888 Fax www.cbre.com Mr. Erik Slettedahl August 3, 2010 Page 2 Hitchcock Industries Reserved Right - 0 Parking and 0 Trailer Stalls Packnet Reserved Right - 0 Parking and 0 Trailer Stalls Spotlight Dance Studio Reserved Right - 0 Parking and 0 Trailer Stalls Other than the 98 stalls presently reserved for exclusive use, the remaining 247 stalls are available to all tenants on an unreserved, first -come, first serve basis. Minneapolis Select has the right to park in a total of 299 (52 reserved plus 247 unreserved) stalls, which is 105 parking stalls greater than their required parking as stated on the permit plan. As a matter of due diligence, the Landlord has also contacted all of the existing tenants concerning Minneapolis Selects use and hours of operation. As stated to the City of Eagan, Minneapolis Selects hours of operations are primarily in the evenings and on the weekends. Florstar Sales, Hitchcock Industries and Packnet's business hours are from 7:00 a.m. through 5:00 p.m. Monday — Friday. On a sporadic basis, Packnet and Hitchcock Industries stated that a trailer or two may need to be taken out or moved in on a given weekend, but that this was not the normal course of business. From the Landlord's initial conversations with Florstar Sales, we have found that Florstar is shutting down their operations at the Lexington facility and pulling out of the market due to a downturn in sales. This will increase the number of unreserved spaces to 293. The only tenant utilizing parking over the evening and weekends is Spotlight Dance Studio. They have stated that on a routine basis, they typically utilize approx. 20 parking stalls along the West side of the building. Taking into consideration that Minneapolis Selects business hours are in the evenings and on the weekends, that Hitchcock Industries and Packnet's business hours are M — F from 7:00 a.m. to 5:00 p.m., that Florstar Sales is vacating the building, that there will be 293 unreserved parking stalls, that Minneapolis Select has rights to an additional 52 parking stalls, and that Minneapolis Select is requiring a total of 194 parking stalls, it is the Landlord's opinion that there is sufficient on -site parking to accommodate Minneapolis Select's use, and to satisfy the parking needs of all the tenants of 2950 Lexington. If you have any questions, please contact me at 952.835.1800. Sincerely, John Boich Senior Real Estate Manager C: aaDataI DBAUS12950LexingtonlLeasingMinneapol is Sel ectlCorrespondence10001CityofEagan2950Lex .doc CB RICHARD ELLIS, INC CBRE CB RICHARD ELLIS The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections. opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. 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