Map Sumter PPR undamentals Overview Lake Hernando ORLAN 75 Pasco 4 275 Pinellas 4 Hillsborough Polk ST. PETERSBURG 175 275 75 Map Layers County PPR Markets U.S. Cities State Capital Major Cities Secondary Cities 7 14 21 Miles 21 Property & Portfolio Research Summary of Last Twelve Months vs. Historical Minimum, Maximum, and Average Apartment Office Retail Warehouse Hotel Current Vacancy* Net New Supply (S)** (S)** 6.6% 5,24 3,89 3.9% 14.4% 99 9,398 674 6,516 96:4 86:4 93:2 85:2 91:3 85:1 15.9% 2,84-51 9.5% 26.5% 248 4,889-51 6,21 97:4 86:1 95:2 86:2 1:3 87:2 12.% 2,932 785 1.4% 22.% 1,217 3,99-337 6,464 :3 92:1 93:4 86:1 82:1 :1 6.9% 814 237 1.% 6.9% 543 3,83-111 3,838 84:2 1:3 94:4 86:1 92:4 82:1 64.1% 1,2 655 65.8% 58.7% -55 3,694-1,37 1,66 97:4 88:1 93:4 86:3 91:2 89:1 *Occupancy for Hotels **Apartment and Hotel data are in units. 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved.
PPR undamentals Analysis/Economy Notable Economic and Real Estate Market Events ECON Employment growth in remained above 4% as of August as the business services subsector continues to generate substantial job gains. However, the unemployment rate is above 3% this year for the first time since 1997, raising doubts about the metro s true health. As in all lorida metros, s tourism industry is bearing the brunt of the economic fallout from the September 11 th terrorist attacks, and one local source reported that more than half of -area hotels are in technical default on their loans (meaning they are failing to meet one or more stipulations agreed upon in their loan contracts). Despite 2,6 call center job losses earlier this year, Home Depot, Merck-Medco, and Skyes Enterprises have all recently announced plans to add a total of more than 2,2 new call center jobs over the next 18 months. APT Vacancy rates will surpass 7% by early next year as construction remains heady even as household formation begins to slow. The suburban submarkets in Northeast and Northwest Hillsborough County remain the loosest in the metro, with tighter conditions abounding in Pinellas County due to tougher development conditions. With the bulk of recent development consisting of high-end luxury units in a metro with belowaverage incomes, Carolinas Real Data reported at mid-year that vacancy rates in complexes built over the past five years were more than 12%. Effective rents are easing as managers offer steep concessions in order to gain (and retain) tenants in an increasingly competitive environment. One project in Palms is offering two months of free rent on one-bedroom units that rent for $795 per month. At mid-year, more then 7, units remained under construction, with 1,7 units underway in Southeast Hillsborough. Vacancy rates are likely to exceed 8% by the end of next year. O Including approximately one million S of available sublease space, office vacancies are heading towards 16%. s tony Westshore submarket remains the metro s tightest with vacancy rates still under 9% in the third quarter according to CB. Crescent s 285, S Corporate Center Two at International Plaza was certified for occupancy this fall in the Westshore submarket and with T. Rowe Price Services recently signing for just over 6, S, the project opened with just under 5% of the space leased. However, when T. Rowe Price s lease expires next August at the 42 W. Cypress Street building, it will vacate 67, S. Corporate Center Three is slated for 3, S, but groundbreaking will likely be delayed until the economy begins to regain positive momentum. Kforce moved into its new 138,6 S headquarters in September in Ybor City, vacating its space at the Park Tower. Merck-Medco plans to ink a lease for the 125, S 88 Hidden River Parkway building in Northeast, where it plans to bring 1, jobs over the next two years. The building had previously housed a call center for SBC Communications. RET Taubman opened the 1.2 million S International Plaza in October, with 7% of the space leased. However, in light of the September 11 th attacks, the grand opening was somewhat less than celebratory as -area retailers contend with a lackluster tourism industry. Three-fourths of the metro s visitors arrive by air and with flight schedules cut and air travel off significantly, retail spending has been down substantially since September 11 th. Despite the slowdown, Pinnacle Group Holdings has revitalized plans for a 25, S entertainment and retail center on a 12-acre site bordered by Channelside Drive, South Nebraska Avenue, inley Street, and the CSX railroad tracks in central, recently requesting that the land be rezoned and publicly affirming that financing is in place. Big-box contruction remains active in the suburbs, led by Wal-Mart and Home Depot. WHS The construction of warehouse and distribution space in is limited, but vacancy rates continue to tick up due to weak net absorption. With tenants maintaining a wait-and-see attitude with regard to expanding or upgrading their space needs, little activity has taken place in the leasing market as of late. Trammell Crow is moving forward with its plans for a 6, S redevelopment of the former Port Authority headquarters, including 3, S of bulk warehouse space, 2, S of distribution space, and 1, S of office across Ybor Channel from the Marriott Waterside hotel. Graybar Electric added a 28, S project at the Parkway Center at Oak Creek business park on the Eastside. HOT With hotels struggling prior to September 11 th, conditions have gotten even uglier over the past couple of months. inancing new projects will be exceedingly difficult, but the Seminole Tribe did finally approve plans to build a new Hard Rock Hotel & Casino northeast of the city. Demographic Trends Annual Growth Rates 21* 1981-199 1991-2 21-26 Category Market U.S. Market U.S. Market U.S. Market U.S. Population 2,441 285,253 2.4% 1.% 1.4% 1.2% 1.%.9% Households 1,29 17,134 2.6% 1.3% 1.5% 1.4% 1.1% 1.% Median Household Income $44,9 $45,84 6.1% 5.1% 4.8% 3.9% 3.6% 3.5% Apartment-Renting Households 31 34,848 3.5% 1.7%.6%.4% 1.5%.9% Real Retail Sales Per Capita $7,37 $5,967 1.4%.8% 1.8% 1.9%.8%.7% Employment Trends 21* Annual Growth Rates Location 1981-199 1991-2 21-26 SIC Category Employment Quotient Market U.S. Market U.S. Market U.S. Total Services 529 1.4 7.6% 4.4% 6.1% 3.8% 2.9% 2.2% Business Services 249 2.8 11.3% 7.% 12.5% 6.9% 3.8% 1.9% Other Services 28.9 6.5% 4.% 2.8% 3.% 2.1% 2.3% Retail Trade 29.9 4.3% 2.7% 1.3% 1.8%.8% 1.4% Government 149.8 3.5% 1.3% 2.1% 1.2% 1.%.9% Manufacturing 91.5 1.1% -.7%.4% -.2% -.1% -.7%.I.R.E. 88 1.2 4.9% 2.5% 2.9% 1.2% 1.4%.8% Wholesale Trade 67 1. 3.5% 1.4% 2.3% 1.4% 1.1%.9% Trans., Comm., Util. 55.8 2.4% 1.2% 3.% 2.1%.9%.9% Construction 59.9.9% 1.5% 2.2% 3.2% 1.%.8% Mining 1.1-2.2% -4.5% -.7% -2.5% -.8% -.1% Total Employment 1,247 1. 4.4% 1.9% 3.4% 1.9% 1.7% 1.2% Office-Using Employment 424 1.5 6.6% 3.1% 6.5% 2.9% 2.9% 1.5% Trucking/Warehouse Employment 76.9 3.5% 1.6% 2.2% 1.7%.8%.4% *All units (except for dollar denominated figures) in thousands. Current Economic Indicators Employment Labor orce Unemployment Employment Net Migration () Cost Indices (U.S. = 1) Growth 8/1 Growth 8/1 Rate 8/1 Volatility Ratio 2 Business Living 4.4% 5.2% 3.3% 1.1 34.7 99 1 Sources: PPR; Economy.com 3Q21 PPR undamentals 21 by P R O P E R T Y & P O R T O L I O R E S E A R C H, I N C. All Rights Reserved. www.ppr-research.com
Supply, Demand, and Vacancy PPR undamentals Apartment Demand & Supply (Units) 1, 9, 8, 7, 6, 5, 4, 3, 2, 1, Vacancy Rate 1984 1985 1986 1987 1988 1989 199 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 24 Percentage Vacant 25 26 16 14 12 1 8 6 4 2 Apartment Market Statistics (Units) 1996 1997 1998 1999 2 21 22 23 24 25 26 Apt. Vacancy 3.9% 4.3% 4.6% 5.5% 5.8% 7.% 8.7% 8.1% 7.% 6.% 5.5% Apt. 4,651 3,947 4,345 4,283 5,837 2,344 1,251 3,97 2,212 3,18 3,596 3.4% 2.8% 3.% 2.9% 3.8% 1.5%.8% 1.9% 1.3% 1.8% 2.1% Multifamily 2,677 6,157 4,795 9,922 9,457 7,577 6,54 1,855 1,38 3,767 6,549-23.9% 13.% -22.1% 16.9% -4.7% -19.9% -14.2% -71.5% -29.5% 188.1% 73.9% Net Apt. Completions 3,198 4,738 5,3 6,21 6,714 4,661 4,742 2,27 418 1,225 2,82 Apt. Inventory 146,6 151,337 156,367 162,388 169,12 173,763 178,54 18,532 18,949 182,174 184,995 2.2% 3.2% 3.3% 3.9% 4.1% 2.8% 2.7% 1.1%.2%.7% 1.5% Apt. Rent Index 1 13 11 113 114 114 112 19 18 19 112 1.9% 3.% 6.4% 3.6%.7% -.2% -2.2% -2.7% -.8% 1.2% 3.% PPR/Dodge Pipeline Summary Bidding inal Deferred Abandoned Current Activity (Units) 2, 4, 6, 8, 1, 12, 14, 16, 18, Apartments Townhouse/Condo Low Income Unclassified Multifamily by Subclass (Units) % 11,692 73% 3,877 24% - % 448 3% Change in Rent vs. Change in Rent 12, 7% 6% 1, 5% 4% 8, 3% 2% 6, 1% % 4, -1% 2, -2% -3% -4% 1996 1998 2 22 24 26 Sources: PPR;.W. Dodge McGraw-Hill Construction Information Group A Division of The McGraw-Hill Companies ; National Real Estate Index 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved.
PPR undamentals Office Supply, Demand, and Vacancy Demand & Supply (S) 6, Vacancy Rate Percentage Vacant 3 5, 4, 3, 25 2 2, 15 1, -1, 1 5-2, 1984 1985 1986 1987 1988 1989 199 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 24 25 26 Office Market Statistics (S) Vacancy Inventory Rent Index 1996 1997 1998 1999 2 21 22 23 24 25 26 11.7% 9.5% 1.4% 11.6% 13.3% 16.6% 17.4% 16.1% 14.5% 13.5% 12.8% 1,91 2,342 1,49 1,447 1,24-85 225 1,622 1,494 812 716 3.4% 4.1% 1.7% 2.4% 1.6% -1.3%.4% 2.6% 2.3% 1.2% 1.1% 1,233 2,776 3,529 4,14 3,252 1,68 677 266 132 173 22 14.5% 33 125.1% 978 27.1% 1,851 13.7% 2,562-19.% 2,525-5.6% 1,961-57.9% 963-6.7% 789-5.5% 237 31.3% 114 26.9% 126 65,331 66,39 68,161 7,723 73,248 75,29 76,172 76,961 77,198 77,312 77,438.5% 1.5% 2.8% 3.8% 3.6% 2.7% 1.3% 1.%.3%.1%.2% 1 7.1% 113 12.6% 119 5.5% 121 1.7% 125 3.1% 126 1.2% 117-7.1% 114-2.5% 115 1.1% 116.7% 117 1.% PPR/Dodge Pipeline Summary Bidding inal Deferred Abandoned Current Activity (S) 5 1, 1,5 2, 2,5 3, 3,5 4, Low Rise Mid Rise High Rise Office R&D Unclassified Office by Subclass (S) % 2,858 8% 712 2% - % - % - % Change in Rent vs. Change in Rent 4,5 15% 4, 3,5 1% 3, 5% 2,5 2, % 1,5 1, -5% 5-1% 1996 1998 2 22 24 26 Sources: PPR;.W. Dodge McGraw-Hill Construction Information Group A Division of The McGraw-Hill Companies ; National Real Estate Index 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved.
Supply, Demand, and Vacancy PPR undamentals Retail Demand & Supply (S) 7, Vacancy Rate Percentage Vacant 25 6, 5, 2 4, 3, 2, 15 1 1, 5-1, 1984 1985 1986 1987 1988 1989 199 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 24 25 26 Retail Market Statistics (S) Vacancy 1996 1997 1998 1999 2 21 22 23 24 25 26 17.4% 16.6% 15.3% 11.9% 1.5% 12.7% 13.8% 12.1% 11.8% 12.3% 12.7% 2,411 2,315 3,29 6,3 3,718 12 11 3,48 2,71 1,68 1,713 2.8% 2.7% 3.6% 6.8% 3.8%.%.1% 3.3% 2.% 1.6% 1.6% 1,893 2,282 3,623 5,688 3,778 2,237 2,36 2,466 2,76 2,868 2,712-9.7% 2.6% 58.7% 57.% -33.6% -4.8% -9.% 21.1% 11.9% 3.9% -5.4% 1,713 1,834 2,12 2,911 2,367 2,925 1,593 1,63 1,993 2,517 2,571 Inventory 15,461 17,295 19,415 112,326 114,693 117,618 119,211 12,814 122,87 125,323 127,894 1.7% 1.7% 2.% 2.7% 2.1% 2.6% 1.4% 1.3% 1.6% 2.% 2.1% Rent Index 1 14 19 112 11 11 16 16 19 111 112 9.5% 4.5% 4.4% 2.6% -1.4% -.6% -3.1% -.4% 3.3% 1.6%.8% PPR/Dodge Pipeline Summary Bidding inal Deferred Abandoned Current Activity (S) 1, 2, 3, 4, 5, 6, 7, 8, reestanding Stores Neighborhood Center Community Center Regional Super Regional Outlet Unclassified Retail by Subclass Sources: PPR;.W. Dodge McGraw-Hill Construction Information Group A Division of The McGraw-Hill Companies (S) 667 1% 554 8% 415 6% 964 14% 1,683 25% - % 2,536 37% 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved. 6, 5, 4, 3, 2, 1, ; National Real Estate Index Change in Rent vs. 1996 1998 2 22 Change in Rent 12% 1% 8% 6% 4% 2% % -2% -4% 24 26
Supply, Demand, and Vacancy PPR undamentals Warehouse Demand & Supply (S) 4, 3,5 3, 2,5 2, 1,5 1, 5-5 Vacancy Rate 1984 1985 1986 1987 1988 1989 199 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 24 Percentage Vacant 25 26 9 8 7 6 5 4 3 2 1 Warehouse Market Statistics (S) 1996 1997 1998 1999 2 21 22 23 24 25 26 Vacancy 6.% 5.5% 5.7% 6.% 6.3% 7.2% 7.7% 6.7% 5.9% 5.9% 6.2% Inventory Rent Index 1,222 1.7% 955 39.3% 961 76,838 1.3% 1,196 1.7% 1,542 61.4% 89 77,728 1.2% 1,625 2.2% 1,522-1.3% 1,866 79,593 2.4% 86 1.1% 1,886 23.9% 1,16 8,754 1.5% 952 1.3% 2,742 45.4% 1,275 82,29 1.6% -66 -.1% 1,743-36.5% 729 82,758.9% 57.1% 459-73.7% 486 83,244.6% 1,99 1.4% 293-36.2% 35 83,549.4% 1,75 1.4% 62 15.6% 451 84,1.5% 819 1.% 1,33 71.5% 866 84,867 1.% 764 1.% 1,111 7.6% 1,26 85,893 1.2% 1 16 111 122 125 131 127 125 126 128 129.7% 6.3% 4.6% 9.6% 2.9% 4.3% -2.5% -2.% 1.% 1.4%.9% PPR/Dodge Pipeline Summary Warehouse Current Activity by Subclass Change in Rent vs. (S) Change in Rent 3, 12% Bidding 2,5 1% inal 8% 2, 6% 1,5 4% (S) % 2% 1, Distribution 78 49% Deferred % Warehouse/lex 194 12% 5 Light Industrial Abandoned 181 11% -2% Unclassified 426 27% -4% 5 1, 1,5 2, 2,5 3, 3,5 4, 4,5 1996 1998 2 22 24 26 Sources: PPR;.W. Dodge McGraw-Hill Construction Information Group A Division of The McGraw-Hill Companies ; National Real Estate Index 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved.
PPR undamentals Hotel Supply, Demand, and Occupancy Demand & Supply (Rooms) 2,5 2, 1,5 1, 5-5 -1, Occupancy Rate 199 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 24 Percentage Occupied 25 26 1 9 8 7 6 5 Hotel Market Statistics (Rooms) 1996 1997 1998 1999 2 21 22 23 24 25 26 Occupancy 63.4% 65.8% 64.% 64.3% 64.6% 62.6% 61.1% 62.3% 63.8% 64.7% 65.2% 971 1,185 68 1,321 521-231 -319 595 686 549 536 4.6% 5.4% 2.9% 5.6% 2.1% -.9% -1.3% 2.4% 2.7% 2.1% 2.% 1,39 1,783 2,125 838 1,611 68 153 187 431 684 84 NA 36.2% 19.2% -6.6% 92.1% -62.2% -74.8% 22.4% 129.9% 58.8% 22.8% -5 536 2,5 1,96 567 91 59 167 12 25 526 Inventory 34,533 35,69 37,119 39,25 39,592 4,52 41,11 41,178 41,28 41,53 42,55 -.% 1.6% 5.8% 5.1% 1.5% 2.3% 1.3%.4%.2%.6% 1.3% Room Rate Index 1 16 112 116 119 117 112 11 19 19 11 5.8% 6.5% 5.4% 3.3% 2.6% -2.% -3.8% -2.3% -.7%.3%.8% RevPar Index 1 113 115 115 123 19 15 16 18 11 112 12.4% 13.% 1.4%.8% 6.9% -11.8% -3.4% 1.% 1.7% 1.8% 1.6% PPR/Dodge Pipeline Summary Current Activity Change in Room Rate vs. (Rooms) Change in Room Rate 2,5 8% Bidding inal 2, 6% 4% 1,5 2% 1, % Deferred Abandoned 5-2% -4% -6% 5 1, 1,5 2, 2,5 1996 1997 1998 1999 2 21 22 23 24 25 26 Sources: PPR;.W. Dodge McGraw-Hill Construction Information Group A Division of The McGraw-Hill Companies ; National Real Estate Index 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved.
PPR undamentals Single amily Housing Single amily Multifamily 4, 35, 3, 25, 2, 15, 1, 5, 1984 1985 1986 1987 1988 1989 199 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 24 25 26 Single amily Market Single amily 18, 16, 14, 12, 1, 8, 6, 4, 2, Change in Home Price 14% 12% 1% 8% 6% 4% 2% % -2% 1984 1985 1986 1987 1988 1989 199 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 24 25 26-4% Sources: PPR; Economy.com Single amily Market Statistics 1996 1997 1998 1999 2 21 22 23 24 25 26 9,486 1,2 11,67 12,482 12,183 13,538 1,454 11,196 11,258 11,66 11,64 9.1% 5.4% 1.6% 12.8% -2.4% 11.1% -22.8% 7.1%.6% -1.7% -.% Completions 9,179 9,548 1,757 12,152 12,391 13,656 1,948 1,821 11,379 11,83 11,77 Apartment Market Statistics Multifamily 2,677 6,157 4,795 9,922 9,457 7,577 6,54 1,855 1,38 3,767 6,549-23.9% 13.% -22.1% 16.9% -4.7% -19.9% -14.2% -71.5% -29.5% 188.1% 73.9% Apartment Completions 3,198 4,738 5,3 6,21 6,714 4,661 4,742 2,27 418 1,225 2,82 Sources: P P R;.W. Dodge McGraw-Hill Construction Information Group A Division of TheMcGraw-Hill Companies 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved.
PPR UNDAMENTALS Projects PPR undamentals Apartment Projects Title Address Value ($mil) Units Stage Start Completion One Bayshore High Rise Apartments Bayshore Blvd & Platt St 5. 482 inal 9/1 1/3 Clearwater Bay Marina Redevelopment 9 N Osceola Ave 5. Clearwater Catalina Beach Resort Residences East Shore Dr & Mandalay Ave 5. Clearwater The Verandahs - Apartments 1589 Gandy Blvd N 37.5 768 Saint Petersburg The Park at Ybor City ive block site between 18th & 21st Streets 33. 454 Start 8/99 12/ Caliente Resorts U S 41 33. 351 Start 6/1 12/1 Land O' Lakes MacAlpine Place Apartments 152 MacAlpine Way 28. 478 Start 1/ 5/1 Dunedin Lake Chase Apartment Complex 152 Windsor Lake Ct 25. 433 Start 7/99 9/ Campus Lodge of Apartment Complex 15115 Buckhorn Ct 25. 312 Start 6/ 9/1 Balaye Apartment Complex 9916 Balaye Run Dr 24.5 324 Start 12/ 2/2 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved.
PPR UNDAMENTALS Projects PPR undamentals Office Projects Title Address Value ($mil) S () Stage Start Completion Sabal Park Office Complex Sabal Park 5. 1, Abandoned Hillsborough River Office Tower-2 Parking Garages & Shops Parker St & Kennedy Blvd W Bank of Hillsborough River 5. 978 Deferred Heritage Office Tower lorida Ave & Whiting St 5. 5 Heritage Park Office Complex lorida Ave between Whiting & Brorein Sts 5. 5 Raymond James Office Tower & Parking Garage Carillon Pkwy 41. 544 Saint Petersburg Corporate Centers our & ive Office Buildings Westshore Blvd & Boy Scout Rd 37.5 497 IMR Global Center Cleveland St & Missouri Ave 37.5 18 Deferred Clearwater Highland Oaks Office Building Sabal Park Corporate Center 3. 45 Start 3/ 4/1 Corporate Center Two at International Plaza 4211 W Boy Scout Blvd 2. 3 Start 8/ 8/1 Corporate Center Three at International Plaza Westshore Blvd & Boy Scout 2. 3 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved.
PPR UNDAMENTALS Projects PPR undamentals Retail Projects Title Address Value ($mil) S () Stage Start Completion International Plaza 2223 N West Shore Blvd 13. 1,552 Start 1/ 1/1 Cypress Creek Towne Centre SR 56 & I 75 5. 1,5 Cypress Creek Heritage Tower Space Needle Restaurant-Shops-Parking Decks Channel District Area Vic Channelside Drive 4. 831 Deferred Mitchell Ranch Station Retail Center SR 54 & Little Road 37.5 365 New Port Richey The Plaza at Citrus Park Town Center 821 Citrus Park Town Mall 37.5 45 Start 12/98 9/99 Mixed Use Development 15 N Dale Mabry Hwy 37.5 485 Retail Center US 19 & W Venable St 2. 2 Crystal Beach High Tech Entertainment Complex 1431 E 7th Ave 2. 17 Bay Walk 11 2nd Ave. N. Baywalk 2. 175 Start 2/ 9/ St. Petersburg Treasure Pointe Ice Palace Dr - Adj to The Ice Palace 2. 2 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved.
PPR UNDAMENTALS Projects PPR undamentals Warehouse Projects Title Port Ybor Industrial Park Value ($mil) S () Stage Address Along Ybor Channel - E of the Aquarium - Old Port HQ site 75. 63 Start Completion Interchange Center lex acility W side of US 31 - S of alkenburg Rd 6. 85 Palms Commercial Subdivision Commerce Park Blvd 5. 1,5 Interchange Center Light Industrial Office & lex Space W side of US 31 - S of alkenburg Rd 42.5 526 Abandoned Warehouse & Manufacturing acility I 275 & Gandy Blvd 37.5 6 St Petersburg Oak Street Warehouse/Manufacturing acility 198 Oak St NE 12.5 2 Abandoned St Petersburg Connerton Industrial Development bordered by SR 52-US 41- SR 583 (north of Land O' Lakes) 12.5 335 Abandoned Pasco County Interchange Center - Phase I - Spec lex Building 4211 US HWY 31 7.5 131 Start 5/1 1/1 Office/Warehouse 852 Eagle Palm Dr 7.3 25 Start 5/1 11/1 Riverview Zephyrhills Bottled Water Warehouse 433 2th St 7.1 151 Start 8/ 1/1 Zephyrhills 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved.
PPR UNDAMENTALS Projects PPR undamentals Hotel Projects Title Address Value ($mil) Rooms Stage Start Completion International High-Tech Conference Hotel/Center Port of - Channelside Dr & Kennedy Blvd 4. 55 Busch Gardens Intercontinental Hotel Busch Gardens Theme Park - Busch Blvd 128. 8 Deferred Marriott Convention Center Hotel & Pool 7 N lorida Ave 62.5 681 Start 3/98 3/ Seminole Tribe Hard Rock Hotel/Casino & Cafe 741 E Hillsborough Ave 5. 25 inal 12/1 2/3 Charlie Daniels Western World Theme Park & Resort Hwy 54 & I-75 37.5 675 Abandoned Pasco County Area Carillon Town Center Hilton Hotel 95 Carillon Pkwy 37.5 3 Abandoned Saint Petersburg Marriott Hotel and Parking Garage 3rd Street 37.5 25 Clearwater Beach loridan Hotel North lorida Avenue Marion/Tyler/ & Cass Streets 27. 225 Abandoned International Plaza Luxury Hotel West Shore Blvd & Boy Scout Rd 2. 312 Marriott Convention Center Hotel ranklin & Ice Palace Drive SE Corner 2. 2 Abandoned 3Q21 PPR undamentals 21 by P R O P E R T Y P O R T O L I O R E S E A R C H, I N C. All Rights Reserved.