SoMi Industrial Portfolio OM

SOUTH MIAMI INDUSTRIAL PORTFOLIO | MARKET OVERVIEW

The Miami Customs District posted $36.4 billion in exports and imports in the first four months of 2015 due to the county’s excellent transportation and logistics infrastructure. Miami International Airport (MIA) is located approximately 6-miles west of Miami’s central business district. With over 80 airlines, MIA services approximately 150 destinations over the world. MIA is one of the nation’s busiest airports; responsible for 40.9 million passengers in 2014. In 2013, MIA ranked first in the nation for international freight and second by volume of international passengers. MIA also ranks third in the nation in terms of cargo traffic, responsible for 1.9 million tons of cargo in 2014. It handles 83% of all air imports between the US and Latin American and the Caribbean. Furthermore, the FAA forecasts 4.2% average annual growth in air cargo for MIA through 2025. MIA and the General Aviation Airports’ annual economic impact is $33.7 billion, with related aviation industries contributing 282,724 jobs directly and indirectly to the local economy. The Miami-Dade Aviation Department recently completed one of the nation’s largest construction programs, a $6.2 billion capital improvements program, to meet the passenger and cargo traffic growth. This program encompassed all aspects of airport operations, from the Terminal and roadways to the cargo facilities and the airfield. Miami is also developing itself into a leader in sea-faring cargo. The Port of Miami is recognized as the “Cruise Capital of the World” and the “Cargo Gateway of the Americas.” More than a dozen of the world’s top shipping lines call on Port of Miami. Nearly 4.8 million cruise passengers and eight million tons of cargo pass through the port annually. The Port contributes over $18 billion annually to the South Florida economy and helps provide employment for over 176,000 jobs. The Deep Dredge Project, a massive initiative to deepen the channel to minus 50’ at a cost of $77 million, is expected to be completed July 2015. The Port’s new depth will enable it to be the first port of call along the United States’ eastern seaboard for fully-laden ships coming from the newly expanded Panama Canal that will be able to handle 13,000 ETU vessels, a 160% increase over the current capacity of 5,000 TEUs. More than $1 billion in overall capital improvements are transforming Port of Miami to enable the port to double its cargo throughput before the end of the decade.

TOP CORPORATE EMPLOYERS

Company Name

Employees

University of Miami

12,818 11,353 11,031 3,500 3,500 3,321 3,011 2,989

Baptist Health South Florida

American Airlines

Carnival Cruise Lines

Miami Childrens Hospital

Mount Sinai Medical Center

Florida Power & Light Company Royal Caribbean International/ Celebrity Cruises

Wells Fargo

2,050 2,000

Bank of America Merrill Lynch

TOP PUBLIC SECTOR EMPLOYERS Company Name Employees Miami-Dade County Public Schools 33,477 Miami-Dade County 25,502 Federal Government 19,200 Florida State Government 17,100 Jackson Health System 9,797

MARKET OVERVIEW

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