Norwegian Cruise Line_OM_C&W Miami FINAL RSF

NCLH HEADQUARTERS Existing Site Plan

PROJECT OVERVIEW

The Properties are situated in the western portion of The Landing at MIA office park and consist of three office buildings includ ing 7600, 7650 and 7665 Corporate Center Drive, Miami, Florida, which currently contain 403,809 rentable square feet, along with 3 parking structures containing 1,712 spaces and a 425 space surface lot. NCLH currently occupies two of the buildings, 7650 and 7665 Corporate Center Drive, and upon completion of the build-out of interiors and other work in 7600 Corporate Center Drive, will be relocating employees from other space it occupies at The Landing. Other key elements of the planned improvements are a 25,000 sf ground level expansion connecting the three office building, an arrival area with new landscape and hardscape improvement, an amenities center providing shared conferencing, cafeteria and employee services, along with base building upgrades to the elevators and restrooms. The Company has selected Bermello Ajamil & Partners as its Architect to assist it with the design, pricing and construction of selected renovations and improvements to the existing Properties. NCLH has entered into a Memorandum of Understanding with the owner of The Landing, W-Crocker LAM Office Owner VII, L.L.C., providing for the sale of three office buildings and three parking structures located on two tax parcels including 11.48 acres on the western portion of The Landing for a price of $100 million, and has decided on modifications and upgrades to the Property budgeted at $80 million, resulting in a total project cost that will be funded by its selected third-party investor of $180 million ($423/SF), including transaction costs.

Property & Site Overview

Site Located in Western Portion of The Landing at MIA office park, including 3 office buildings, along with 3 parking structures, on two tax parcels containing 11.48 acres of land, as well as a separate 5.45 acre surface lot which will be ground leased.

Location

Site Size

11.48 Acres

7600 Bldg 7650 Bldg 7665 Bldg Total

144,792 sf 127,917 sf 131,100 sf 403,809 sf + 25,000 sf Amenities & Connector Building

Building Square Footage

In addition to funding the acquisition of the three office buildings and three parking structures located on two tax parcels including 11.48 acres on the western portion of The Landing, investor will provide capital for planned refurbishment and base-building enhancements, including build-out of interiors and other work in 7600 Corporate Center Drive, refresh of interiors and refinish restrooms in 7650 & 7665 Corporate Center Drive, construction of a 25,000 sf connector building, connecting the three office buildings while providing an arrival area with new landscape and hardscape improvement, an amenities center anticipated to include shared conferencing, cafeteria and employee services, and canopies over the spaces on the surface parking lot, as well as transaction costs. REDEVELOPMENT SUMMARY

Site Acquisition Upgrades/Modifications Total

$100 million $80 million $180 million

Project Costs

Parking Garage Office Building

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