SoMi Industrial Portfolio OM

SOUTH MIAMI INDUSTRIAL PORTFOLIO | INVESTMENT HIGHLIGHTS

The Offering Cushman & Wakefield has been retained as the exclusive advisor for the sale of the South Miami Industrial Portfolio (“Portfolio” or “Properties” or “SoMi Industrial Portfolio”), an 11 building, 366,415 SF portfolio of functional, primarily small-bay warehouse product. Clustered around a strategic industrial node serving Southern Miami-Dade County near the crossroads of Florida’s Turnpike and South Dixie Highway (US 1), the Portfolio is well positioned to serve the needs of the densely populated trade area and surrounding expanding residential communities. The small bay product format caters to the smaller entrepreneurial businesses that dominate the South Florida economy, where nearly one out of every 10 adults owns a business and small businesses are estimated to comprise roughly 90% of the economy. The Portfolio enjoys superior access to Florida’s Turnpike, with 10 of the 11 buildings within one mile of Quail Roost Drive. Additionally, several buildings benefit from frontage and visibility along major roads, including Quail Roost Drive, SW 106th Avenue (the main road leading to The Home Depot) and the Turnpike, which is strategic from an advertising standpoint. Sign calls from these high-traffic locations are a huge leasing driver for the Portfolio and has kept occupancy at an elevated level. With more than 200 tenants, the Portfolio’s critical mass of product offers true economies of scale and the flexibility to accommodate a wide variety of tenant sizes, industries

and needs ranging from “quasi-retail” and services to light manufacturing and self-storage. The proximity of the assets to one another allows for key personnel and leasing staff to be more optimally utilized across the Portfolio, which in turn helps to reduce operating expenses. The leases have been strategically structured with short terms to allow for rental rate increases in an improving market. The favorable leasing dynamics in the industrial micro- market (comprising a triangle bound by Eureka Drive, Florida’s Turnpike and South Dixie Highway), which boasts a vacancy rate of only 1.6% (as of mid- November, 2016), positions the Portfolio for further rental rate increases in the near term. The Portfolio’s tenants enjoy the wealth of amenities and drivers in the immediate vicinity including the 983,846 SF Southland (regional) Mall, The Home Depot, numerous commercial business located along the thriving South Dixie Highway commercial corridor, and a myriad housing options. Waves of attractively priced single- and multi-family developments (see Market Overview section) spreading southward have contributed to robust population growth in the area, which is projected to grow by nearly 10% between 2015-2020. Additionally, there is a proposed plan to extend the MetroRail south from Kendall (SW 88th Street) to the Homestead area via the existing South Dade Busway, which would dramatically improve the transportation infrastructure surrounding the Portfolio and enhance overall connectivity to the rest of Miami Dade County.

31KSF Development Potential

97.1% Leased

$2.6M In-PlaceNOI

366K Square Feet

11 Buildings

$

South Dade Industrial Center

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