Q4 2020 Erhardt Land Report

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

CURRENT SITUATION

Office Market Breakdown

Major Leases Quarter Leased Building Name

Leased SF 105,684

Tenant Name

Deal Type

Class A, 4,387,855

1Q2021

2002 N Tampa Street

Pfizer

Direct Direct

2Q2020 2004 N Tampa Street

White & Case

39,458 19,878 16,560 16,331 16,218

2Q2020 501 E Kennedy Boulevard Attorney General

Renewal Renewal

3Q2020 201 N Franklin Street 2Q2020 100 S Ashley Drive 2Q2020 401 E Jackson Street 4Q2020 100 N Tampa Street

The University Club Wicker Smith O'Hara

Direct

JLL

Sublease Renewal Renewal

Class C, 501,866

Shook Hardy & Bacon LLP 14,079

3Q2020 101 E Kennedy Boulevard Quarles & Brady

13,843 12,856

Class B, 1,653,810

2Q2020 101 E Kennedy Boulevard UBS

Direct

1Q2021

100 N Tampa Street

JPMorgan Chase Bank

11,196

Renewal

Overall Leasing Activity and Absorption

600,000

Overall Leasing Activity and Absorption Overall Leasing Activity and Absorption

Overall Direct Vacancy and Rental Rates Overall Direct Vacancy and Rental Rates

(200,000) (200,000) (100,000) (100,000) (200,000) 100,000 (100,000) 200,000 100,000 200,00 3 300,000 200,000 4 400,000 300,000 500,000 500,000 400,000 6 600,000 500,000 0 0

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

0.0% 2.0% 4.0% 6.0% 8.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 10.0% 12.0% 14.0% 16.0% 18.0%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 YTD

$0.00 $5.00 $0.00 $5.00

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 YTD 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 YTD

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q21 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q21

Direct Gross Asking Rental Rate Direct Gross Asking Rental Rate

Direct Vacancy Rate Direct Vacancy Rate

Leasing Activity

Direct Net Absorption

16 Cushman & Wakefield

Leasing Activity Leasing Activity

Direct Net Absorption Direct Net Absorption