Old Cutler Towne. Center. Offering Summary RARE BEST IN CLASS MIAMI-DADE RETAIL OFFERING CAPTIVE CUSTOMER BASE TOP PERFORMING PUBLIX

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1 Offering Summary Cutler Bay, Miami-Dade, Florida RARE BEST IN CLASS MIAMI-DADE RETAIL OFFERING CAPTIVE CUSTOMER BASE TOP PERFORMING PUBLIX EXTRAORDINARY VALUE ENHANCEMENT OPPORTUNITY

2 OFFERING HIGHLIGHTS Cushman & Wakefield s Retail Investment Advisors is pleased to offer for sale, a 106,427 sf grocery-anchored neighborhood shopping center with a prime location along Old Cutler Road in southern Miami-Dade County. Originally developed in 1987 and rebuilt in 1993, the Property is 87% leased and anchored by a top performing Publix. This offering represents the rare opportunity to acquire a premier groceryanchored center that offers exceptional upside through either a recasting of the anchor lease or re-tenanting of the anchor premises based on Publix limited lease term and significantly below market rent. Offering Highlights Best in Class Miami-Dade Retail Offering Exceptional Grocery Location Publix sales at this store rank among the highest in the chain Publix sales are up 16.3% over the past 5 years Unique Location The center enjoys the unique market niche of being the only anchored retail center along Old Cutler Road, providing it with a captive, affluent customer base residing between US Highway 1 and Biscayne Bay Expansive Primary Trade Area (2-mile radius) 54,094 residents 73,050 Avg. HH Income 9.4% Pop. Growth by 2021 Ideal Tenant-Mix High volume grocer generates significant customer traffic, 7 days a week, morning through evening Sizeable medical (7 tenants; 17% of GLA) and food (8 tenants; 10% of GLA) components PROPERTY SUMMARY Address Old Cutler Road, Cutler Bay, FL Site Area ±9.42 acres Year Built 1987 / Rebuilt 1993 GLA 106,427 Exceptional Value Enhancement Opportunity 13% of the GLA is available for lease Publix lease is significantly below market and expires in 2022 with just one 5-year option remaining, creating the opportunity to substantially increase revenue through either a recasting of this lease or re-tenanting of this premises at current market rents Projected CAGR of 7.2% over a 10-year hold Occupancy 87% Anchors CUSHMAN & WAKEFIELD 2

3 NEIGHBORHOOD DEMOGRAPHICS 1-MILE 2-MILE 3-MILE 2016 Pop. 18,959 54,094 97,949 Pop. Growth % 9.4% 8.2% 2016 households 6,184 18,064 31, Avg. HH Income $78,107 $73,050 $67, % Owner Occupied 75.7% 65.3% 58.84% Median Age Daytime Employment 3,014 13,584 27,241 % Hispanic 56.4% 57.1% 52.6% LOCATION HIGHLIGHTS PRIME LOCATION Along Old Cutler Road In Cutler Bay, an affluent suburb in southern Miami-Dade located between Biscayne Bay and South Dixie Highway UNIQUE MARKET NICHE As the only anchored center located on Old Cutler Road, the center is ideally positioned to serve the captive customer base residing between South Dixie Highway and Biscayne Bay EXCEPTIONAL DEMOGRAPHICS (2-MILE RADIUS) 54,094 residents 73,050 Avg. HH Income 9.4% Pop. Growth by 2021 CUSHMAN & WAKEFIELD

4 TENANCY & FINANCIAL HIGHLIGHTS TENANCY MAJOR TENANTS SF % OF GLA TENANCY HIGHLIGHTS 42, % Total Major Tenants 42, % SHOP TENANTS National (8)* 16, % Local (20) 34, % Pubilx sales rank among the top for the chain, a testament to the quality of the center s location Significant medical component (7 tenants; 18,201 sf; 17% of GLA) provides long term stability to shop tenant roster Shop tenancy tailored to serve surrounding neighborhoods with numerous service uses (6 tenants; 7,775 sf; 7.3% of GLA) and restaurant/food uses (8 tenants; 10,813 sf; 10% of GLA) Vacant (8) 13, % Total Shop Tenants 64, % Total Owned GLA 106, % *National tenants include Ace Hardware, AT&T, Cold Stone, Little Caesar, T-Mobile, Wing Stop, GNC, and Subway. NATIONAL VS. LOCAL TENANCY BASED ON GLA NATIONAL 54.7% LOCAL 32.2% FINANCIAL HIGHLIGHTS 13% of GLA (8 units; 13,955 SF) is available for lease Publix lease has limited term remaining (expires without options in 2027) and substantially below market rent, creating the opportunity to significantly increase cash flow through either a recasting of Publix lease or re-tenanting the anchor premises at market rent Projected 10-year CAGR of 7.2% NO ROFO or ROFR in Publix Lease Antenna leases account for 8.7% of revenue, enhancing the credit profile of the cash flow AVAILABLE 13.1% CUSHMAN & WAKEFIELD 4

5 For more information, please contact: MARK GILBERT Executive Vice President (305) ADAM FEINSTEIN Executive Director (305) MITCHELL HALPERN Director (305) SPENCER KINSELLA Financial Analyst (305) CUSHMAN & WAKEFIELD OF FLORIDA, INC. 333 SE 2nd Avenue, Suite 3900 Miami, FL The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.) cwretailinvestmentadvisors.com