Engage in Tampa Bay_Q419

TAMPA'S CBD HAS NO EXISTING LARGE BLOCKS OF SPACE

CURRENT SITUATION

Major Leases Building

Tenant

SF

Deal Type

100 North Tampa

Holland & Knight

63,514 Renewal

MAJOR CURRENT AVAILABILITIES 30,000+ SF Spaces Class A • Wells Fargo Center 39,046 15th & 16th Floor

501 East Kennedy

WeWork

61,805 New

Tampa City Center

Morgan & Morgan

60,052 Renewal

SunTrust Financial Centre

Industrious

20,026 Expansion

Association to Advance Collegiate Schools of Business

One Harbour Place

22,883 Renewal

Major Sales Quarter Sold Building

Buyer

Seller

Price

Price PSF

4Q19

WeWork Place

Parkway

Angelo, Gordon & Co.

$67,400,000

$227.00

4Q18

Tampa City Center

The Shidler Group

Banyan Street Capital

$110,000,000

$145.23

3Q17

Fifth Third Center

Farley White Interests Bridge Investments

$52,500,000

$187.00

4Q16

Park Tower

Feldman Equities

Sterling Equities

$79,750,000

$168.75

Class A Leasing Activity and Absorption

Class A Direct Vacancy and Rental Rates

-200,000 -100,000 0 100,000 200,000 300,000 400,000 500,000

$10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00

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

0.0% 2.0% 4.0% 6.0% 8.0%

$0.00 $5.00

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Class A Direct Gross Asking Rental Rate

Class A Direct Vacancy Rate

Leasing Activity

Direct Net Absorption

18 Cushman & Wakefield