Engage in Tampa Bay_Q2-2020

TAMPA'S CBD HAS MORE CONSTRUCTION ACTIVITY THAN SEEN IN THE PREVIOUS 20 YEARS

CURRENT SITUATION

OFFICE MARKET BREAKDOWN

Major Leases Quarter Leased Building Name

Class A, 3,903,388

Leased SF

Deal Type

Tenant Name

Heights Union - West Building

3Q2018

AxoGen

75,000 New

Class C, 501,866

1Q2018

Tampa City Center

Morgan & Morgan

60,052 Renewal

Class B, 1,653,810

Heights Union - East Building

4Q2018

WeWork

51,270 New

1Q2020 Sparkman Wharf

Industrious

44,000 New

1Q2019

100 North Tampa

Holland & Knight

41,427 Renewal

Overall Direct Vacancy and Rental Rates

$10.00 $15.00 $20.00 $25.00 $30.00 $35.00

10.0% 12.0% 14.0% 16.0% 18.0% 20.0%

2Q2020 Heights Union - West Building

White & Case

39,458 New

SunTrust Financial Centre

4Q2018

Baker McKenzie

35,139 New

0.0% 2.0% 4.0% 6.0% 8.0%

4Q2018

Sparkman Wharf

SPP

31,826 New

$0.00 $5.00

1Q2018

Rivergate Tower

Quest Workspaces

26,505 New

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q20

1Q2019

100 North Tampa

Holland & Knight - Expansion 22,087 New

Direct Gross Asking Rental Rate

Direct Vacancy Rate

1Q2020 Tampa City Center

Mad Mobile

21,006 New

Overall Leasing Activity and Absorption

1Q2019

1001 Water Street

RSM Accounting

21,000 New

(200,000) (100,000) 0 100,000 200,000 300,000 400,000 500,000 600,000

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2Q20

Leasing Activity

Direct Net Absorption

16 Cushman & Wakefield