Florida Healthcare Advisory Practice

FLORIDA HEALTHCARE ADVISORY PRACTICE

PUTTING CLIENTS AT THE HEART OF OUR BUSINESS

FLORIDA HEALTHCARE ADVISORY PRACTICE

SCOPE OF SERVICES

Central Florida

• Site selection and lease negotiations • Lease renewals & re-negotiations • Relocations and expansions • Site purchase acquisitions • Sale leasebacks • Tenant representation • Ambulatory surgery center & outpatient services strategies • Third party joint venture lease valuation • MOB leasing and sales

West Florida

South Florida

RELATIONSHIP DRIVEN EXPERIENCED RESULTS

As specialists in this unique property type, Cushman & Wakefield’s Florida Healthcare Advisory Practice provides service, solutions, and savings to healthcare providers so you can focus on what’s most important: your patients.

OVER $477M IN TOTAL TRANSACTIONS

A COMBINED 55+ YEARS EXPERIENCE

MEET THE BROKERS

ANNE SPENCER, MCR | CENTRAL FLORIDA Specializing in the representation of healthcare Owners, Tenants, and Investors, Anne Spencer assists her clients with strategic portfolio planning and maximizing the value of their real estate assets. Having a particular focus on healthcare real estate, Anne is the publisher of the comprehensive Central Florida Medical Office Report and owner of the website FloridaMedicalOffice.com. Known by her clients and colleagues as a proven negotiator, she has an extensive knowledge of Central Florida commercial real estate market along with specific knowledge of the healthcare real estate landscape. Anne honed her sales and negotiating skills at G&K Services where she was recognized as a Top Producer in the Southeast Region. She received her Bachelor of Arts from the University of Central Florida, achieving acclaim from several national associations, including the Associated Press and the Association for Women in Communications. She is a proud supporter of the UCF Golden Knights, and retains strong ties to her alma mater.

BRIAN BREEDING, CCIM | WEST FLORIDA Brian Breeding is a healthcare brokerage specialist and a member of Cushman &

Wakefield’s Healthcare Advisory Practice, a national team of real estate professionals that represent healthcare systems, physician groups, and investors of medical office buildings. Offering comprehensive market intelligence focused on strategic solutions for healthcare systems and providers, Mr. Breeding has been in the Tampa market for fifteen years. He leverages his hands-on experience, and business acumen to provide his clients with real estate expertise that supports and enhances their bottom line. He is actively engaged in providing site selection, lease negotiation, and additional value-add real estate services to healthcare providers. Brian's background includes the representation of both tenants and landlords. Prior to joining Cushman & Wakefield, Mr. Breeding was a leasing professional with RJ King and Associates Healthcare Real Estate where he was responsible for the leasing and marketing of a medical office building portfolio exceeding 650,000 sf. MICHAEL FELDMAN, CCIM | SOUTH FLORIDA Michael Feldman has more than 25 years of commercial real estate experience and currently serves as Senior Director of the Florida Healthcare Advisory Practice. Michael specializes in representing healthcare providers and medical office building owners throughout South Florida. Areas of expertise include portfolio management, agency leasing, tenant representation, site selection services, asset acquisitions and dispositions including sale/leasebacks transactions. Prior to his current role, he served as the Director of Leasing for AW Property Co. where he managed six regional leasing teams representing 2.5 million SF of medical office buildings and professional office properties. Michael is a Certified Commercial Investment Member and a licensed Florida real estate broker.

Michael’s interests include coaching his son’s baseball team, competitive cycling, surfing, and Miami Hurricanes football.

MEET THE TEAM

ANGELA FLINT | TRANSACTION SPECIALIST Angela Flint is a licensed real estate sales associate in the State of Florida. Angela specializes in C-Level administrative management with over 30 years of sales, marketing, and operations experience. Angela developed her real estate experience as a Licensed Sales Associate selling custom estate homesites for a 3,800-acre Master Planned Community in Draper, Utah. After moving to Las Vegas, Angela worked for Prudential CRES | IPG Commercial Real Estate as the Director of Operations, overseeing many aspects of the business including sales and marketing support, transaction management and administration. Using the pandemic as a catalyst to re-engage in the real estate profession, Angela went to work for Cushman and Wakefield, as a Transaction Specialist. Angela’s role is to oversee the transaction management of the Florida Healthcare Advisory Practice’s large multi-market accounts. STEFANIE SAGER | SENIOR ADMINISTRATOR The newest member of the Florida Healthcare Advisory Practice, Stefanie Sager brings with her a wealth of knowledge from assisting C-Level executives in the fields of criminal law, finance, and event management. Prior to this she worked in the fashion industry for nearly two decades with a Directorship Position at Brown Management Group in Chicago, Illinois, managing the Print and Fashion Divisions, including the placement of models in overseas markets including Paris, Berlin, Tokyo, Milan, and Hong Kong. While traveling extensively, Stefanie toured the Midwest and Southeast in charge of scouting talent for the Print and Acting Divisions for the agency nationwide. Stefanie recently moved back to her home state of Florida and is excited to join such a talented and vibrant team while honing her graphic design & marketing skills, and administrative credentials. Stefanie also manages the daily operations of the Cushman and Wakefield Orlando office, working side by side with their Operations Manager.

TESTIMONIALS After a year of non-action from my first realtor, leaving me completely frustrated, I was referred to Anne. What a difference! Anne was all action from the first meeting through the closing! And at a record-breaking price point too!! Hugh McDonnell SELLER “ “ Angela was a pleasure to work with, she accommodated all my special hour requests to tour locations and was always punctual. She was positive and always worked in our favor! Katie S. PRACTICE ADMINISTRATOR “ “

THE CUSHMAN & WAKEFIELD EDGE

ABOUT CUSHMAN & WAKEFIELD What began as a small family business in New York more than 100 years ago, is now a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Our iconic brand and approximately 53,000 people operate across approximately 400 offices in 60 countries. And from Silver Court in Shanghai to the Sears Tower in Chicago to all that comes next, our clients are at the center of all we do.

UNPARALLELED EXPERTISE

EXTENSIVE HEALTHCARE KNOWLEDGE

GLOBAL & LOCAL SUPPORT

EXPANSIVE RESEARCH CAPABILITY

NATIONAL HEALTHCARE ADVISORY BOARD Beyond Florida: Cushman and Wakefield’s Healthcare Advisory Practice consists of a national team with over 300 experts who specialize in medical real estate and portfolio optimization. Our sole focus is to better support our client’s healthcare missions and business objectives locally, regionally and nationally.

PROVEN RESULTS

Side Represented Property

City

Sq Ft 73,836

Seller

7450 Sand Lake Commons Boulevard Orlando

Tenant

5332 Avion Park Drive

Tampa

70,760

Seller

21110 Biscayne Boulevard

Aventura

53,480

Seller

6177 Lake Ellenor Drive

Orlando

38,356

Seller

601 University Boulevard

Jupiter

28,000

Tenant

4030 Boy Scout Boulevard

Tampa

27,303

Seller

125 W. Indiantown Road

Jupiter

23,932

Tenant

9332 State Route 54

Trinity

17,657

Tenant

1615 SW 107th Avenue

Miami

17,532

Tenant

1301 2nd Avenue Southwest

Largo

16,347

Tenant

3109 W. Dr. M.L. King Jr. Boulevard

Tampa

10,965

Tenant

1680 Central Boulevard

Jupiter

9,875

Tenant

Red Bug Lake Road and Goldeneye Point Oviedo

9,821

Seller

9582 W. Colonial Drive

Ocoee

9,700

Tenant

26133 US Highway 19 North

Clearwater

9,476

Tenant

4511 N Himes Avenue

Tampa

9,463

Landlord

13515 Sheldon Road

Tampa

9,250

Tenant

4738-4740 Exploration Avenue

Lakeland

9,114

Tenant

17075 Porter Road

Winter Garden

9,080

Tenant

3109 W. Dr. M.L. King Jr. Boulevard

Tampa

9,054

OUR CLIENTS

TENANT REPRESENTATION

BROKERAGE SERVICES C&W is a transaction leader in major markets worldwide. Brokerage Services encompass Tenant Representation for office, industrial, and retail properties. C&W’s brokerage teams are provided unparalleled support by a vast array of multi-disciplinary in-house professionals who have expertise in analytics, financing techniques, and market research. Our brokers’ experience, market knowledge, and business acumen results in significant benefits for clients, including:

• M aximum value • B est price • U ncovering of hidden opportunities • A lignment of real estate with business objectives

SAVE TIME Review requirements and compare potential locations in order to screen and eliminate options that don’t fit or are unwanted solicitations.

CREATE COMPETITION Shows every property available that meets requirements and notifies the landlord of those opportunities.

IMPARTIAL THIRD PARTY Keeps the emotions out of the discussions and represents tenant interests.

KNOW POSSIBLE ISSUES Navigates the pitfalls from issues that arise in lease negotiations, and protects tenant.

TAKE THE LEAD Gives tenant more time to focus on core business because real estate transactions are time consuming and require constant attention.

EXAMINE PRELIMINARY PRICING Ensures the tenant build-out of improvements is maximized in an allowance from the landlord.

HEALTHCARE EXPERTS

We understand what works for first class healthcare locations

Does the property offer the right patient experience? Is there a convenient drop off area, ample parking? Does the entry have good lighting, clear directional signage ?

Does the valet offer assistance such as wheel chairs or valet?

If we need after hour access – confirm how will that work in a secure manner – from parking to entry and back

Does the property feature high speed internet capabilities , etc.

Is there visible security services ?

On/Off Campus Issues

Understand the Issues

We’ve dealt with issues including ground lease restrictions, ROFRs, competing/ exclusive uses, parking issues, access issues, signage rights, exterior maintenance, security, etc.

We help protect the tenant by navigating leasing pitfalls and documentation issues that inevitably arise. We’ve done this before.

Tenant Improvement Allowed

We can help ensure the tenant build-out allowances are maximized and are negotiated fully. We know what build outs and retro-fits cost and we ensure tenants are getting a true, market deal.

Referral Mix / Competing Uses

Review existing tenant mix to screen location for the optimal opportunity for future referrals and understand existing competition. Get the right space for the right use. Where is the nearest urgent care/primary care, surgery center, competing hospitals, assisted living facilities, etc.?

Experience

We focus solely on negotiation the best deal possible for the targeted objectives. We have represented landlords and tenant and been on both sides of the table. We know what levers to pull and push to get the best deal for our clients. We know the speed bumps and how to navigate them – from negotiating Letter of Intent through complicated lease language issues and unforeseen build out issues – our experience can save you time to occupancy and add real value to the bottom line.

Representation Creates Competition

Review and screen available locations to confirm sites that meet the requirements and send a clear message to landlords

and property owners that you are working with professionals who understand the market.

AGENCY LEASING

COMPLETED ASSIGNMENTS

Our experts analyze each asset’s investment goals, tenant mix, financing structure, building strengths, market conditions, and competition, then develop creative messaging and a marketing strategy. Whether representing a single property or an entire portfolio, we manage the marketing process to strategically position assets as the superior choice in that market. Teams use a mix of technology, digital promotion, and proven property marketing approaches to attract and retain the right tenants and meet ownership’s investment objectives. The firm also acts as a valuable resource for owners seeking to reposition an asset for sale or to assist with due diligence for a new acquisition. The FLORIDA HEALTHCARE ADVISORY PRACTICE represents over 2.5M SF of Medical Office Space in the state of Florida including hospital campuses, medical office buildings, surgery centers, healthcare developers & physician groups.

CASE STUDY TOP MED REALTY LANDLORD REP | 33,151 SF ASSIGNMENT

Michael Feldman was hired on behalf of Top Med Realty to lease the Woolbright Medical Plaza which had suffered from lagging vacancy and poor market placement.

During his oversight we:

• Repositioned the property in the market with broad reaching advertising and promotion. • In 24 months, we successfully converted and re-branded the office complex to a medical office plaza and increased the occupancy from 63% to 93%. • Increased new tenant rental rates by 10% • Created meaningful value with strong equity returns ahead of projections. CHALLENGES The project suffered from a lack of leasing focus and targeted marketing. The tenant mix was not ideal. Ownership needed guidance on positioning and advice on the importance of developing a better referral mix to ensure project success. OUTCOME Completely remodeled the marketing approach to attract tenants from competing buildings nearby and promoted the asset regionally and nationally. With a heavy promotion focused on the referral tenant mix, ample parking and proximity to I-95, we employed a wide approach to reach out to area providers to highlight the location’s centralized positioning with close proximity to three hospital campuses. We secured four new tenants (two of which are NYSE listed). All new leases were 5-10 years at lease rates 8-10% above prior asking levels. Ownership recently sold the property for $334/SF with an initial acquisition price of $166/SF.

Florida Healthcare ADVISORY PRACTICE

BRIAN BREEDING, CCIM WEST FLORIDA +1 813 204 5369 brian.breeding@cushwake.com

ANNE SPENCER, MCR CENTRAL & NORTH FLORIDA +1 407 541 4434 anne.spencer@cushwake.com MICHAEL FELDMAN, CCIM SOUTH FLORIDA +1 561 227 2063 michael.feldman@cushwake.com STEFANIE SAGER SENIOR ADMINISTRATOR +1 407 949 0884 stefanie.sager@cushwake.com

ANGELA FLINT STATEWIDE TRANSACTION SPECIALIST +1 407 541 4418 angela.flint@cushwake.com

https://www.cushmanwakefield.com/en/united-states/offices/orlando/florida-healthcare-advisory-group Visit Us at:

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©2023 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This in formation has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCER TAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE