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are spent oa miscellanoouc. retail purchases. This would amount to ?35, 000, 000 (25?d of $140, 000, 000 approximately). Since the subject property is the largest shopping center in the state of Mississippi and the only enclosed mall center in the entire Southeast section cf the United States, it is something of a tourist attraction in itself over and above its convenience and completeness as a shopping facility. Thus it v.-ould seem reasonable to assume that at least 20% of this £35, 000, 000 or £7, 000, 000. 00 would be additional income to the center from the tourist traffic.
We conclude that stabilized minimum rents are quite reasonable and conservative and that sales volume should be great enough to exceed that which we liave estimated.
Following, we have computed a chart on the five county area showing expenditures in various categories that should effect the center. It may be seen that the area is growing in both population and wealth and should continue to show great advances at an ever increasing rate in the future.
To date, many of these new dollars have gone out rather than stay in the market area. This has been due to the obvious lack of a good shopping facility within the area. This will change v.-ith the Edgewater Plaza.
Actually, the Edgewater Plaza Shopping Center couldn't be in a better location than where it is. Situated as it is on U.S. 90, "The Ola Spanish Trail", with Pass Christian Road running directly to its rear, it is in a prime location for traffic flow. At present, between the two reads, 50, 000 cars pass the property daily. In addition, with the beautiful ar.d progressive Edgewater Gulf Hotel next door, it has an entry to a captured tourist and convention market.
The Edgewater Gulf Hotel is already pl-.anning week-end chopping and vacation