Office Park MIAMI (DORAL), FLORIDA EXECUTIVE SUMMARY Doral Costa Office Park

9850 Building

DORAL BOULEVARD/NW 41ST STREET 9800 Building

4090 Building

NW 97TH AVENUE

Office Park MIAMI (DORAL), FLORIDA EXECUTIVE SUMMARY Doral Costa Office Park

Holliday Fenoglio Fowler, L.P. (“HFF”) is pleased to exclusively offer the opportunity to acquire Doral Costa Office Park (the “Offering” or the “Property”). Completed in 2001 and 2006, the 96% leased Class A, four- story and three-story buildings total 284,798 square feet and are located in the heart of the fastest growing city in Miami Dade County – Doral. Doral Costa Office Park

9850 Building 9800 Building 4090 Building Property Total 9850 NW 41st Street, 9800 NW 41st Street, 4090 NW 97th Avenue, Building Address Doral, Florida 33178 Doral, Florida 33178 Doral, Florida 33178 Year Built 2006 2001 2001 Building Size (RSF) 132,408 133,530 18,860 284,798 Occupancy 91.2% 100% 100% 95.9% Stories 4 stories 4 stories 3 stories The Property contains a total of 1,172 surface parking spaces for a total parking ratio of 4.12 spaces per 1,000 square feet. Of the total, 509 spaces are allocated to the 9850 Building, which includes 92 covered spaces. 595 spaces are Parking allocated to the 9800 Building, which includes 115 covered spaces. The remaining 68 spaces are allocated to the 4090 Building.

Doral Costa Office Park features an impressive array of credit tenants accounting for 85% of the occupied square footage, with World Fuel Services occupying 100% of the 9800 Building. The property is well positioned for strong revenue increases with in-place rental rates that are as much as 25% below market, offering investors a unique opportunity to purchase a core asset with exceptional upside potential.

Offering Highlights Diversified, Stable Tenancy

Doral Costa Office Park is currently 96% leased to an excellent mix of local, national, and international tenants that provide secure, long term cash flow with an average weighted remaining lease term of 4.75 years. World Fuel Services, a single tenant in the 9800 Building, occupies 132,457 square feet, or 47% of the Property, through May 2021. The 9850 Building and 4090 Building are occupied by tenants spanning several industries including Medtronics USA (Healthcare), Phelps Dodge (Mining), HSBC Bank USA (Financial Services), and Samsung (Technology). Major Tenants

Tenant Credit Rating Industry Building Leased SF % of Total

World Fuel Services N/A Energy 9800 Building (NYSE: INT) 132,457 47%

Medtronic USA, Inc. Moodys: Aa3 Healthcare 9850 Building 25,833 9% (NYSE: MDT) S&P: A

Samsung Electronics Moodys: A1 Technology 9850 Building 18,452 6% Latinoamerica S&P: A+

Phelps Dodge Moodys: Mining 9850 Building 16,451 6% (NYSE:PD) Baa2

Seitlin & Company N/A Insurance 9850 Building 15,672 6%

Allstate Insurance Moodys: Aa3 Insurance 9850 Building 14,765 5% (NYSE: ALL) S&P: AA-

GSA N/A Government 9850 Building 12,069 4%

HSBC Bank USA Moodys: Aa2 Financial 4090 Building 6,078 2% (NYSE: HSBC) S&P: AA- Services

TOTAL MAJOR TENANTS 241,777 85% World Fuel Services Ranked #1 South Florida Public Company

A Fortune 100 company, World Fuel Services is a global fuel logistics company specializing in fuel DORAL PLAZA sales and distribution to marine, aviation, and land transportation companies. World Fuel Services has been ranked the largest public company in South Florida for three consecutive years, with Urgent Care Facilities $43.4 billion of revenue in 2014 and is one of the fastest growing company in the Fortune 500 over the past decade. World Fuel Services’ headquarters has been in the Doral Costa Office Park since Direct Access to 2002 and has expanded multiple times, currently occupying the entire 9800 Building with over Florida’s Turnpike 132,000 square feet.

Significant Upside Potential - NNN Lease Basis

DORAL BOULEVARD/NW 41ST STREET The Class A Miami Airport office submarket has seen occupancies rise from 81.5% in 2010 to the 9850 Building current 91.6%. The continued tightening of the market will allow a new owner to increase rents, which are currently as much as 25% below market, as available space decreases and demand for office space increases in the submarket. Additionally, the in-place leases have contractual rent increases throughout their terms, and on a triple net lease basis, providing further rental 9800 Building income growth. 4090 Building Opportunity for Additional Development Costa Del Sol Direct Access to Golf Club SH 826/Palmetto Expy The Property includes a .90 acre vacant parcel at the southeast corner of the site. The current O-3 zoning allows for a variety of land uses, including professional office, medical office or hotels. NW 97TH AVENUE Exceptional Nearby Amenity Base

The surrounding area has numerous retail, dining, hotel, and entertainment options. With over 240,000 square feet of retail located directly across the street, tenants and guest have easy access Direct Access to to an abundant amenity base that includes Publix, LA Fitness, FedEx, Bank of America, Chase Bank, SH 836/Dolphin Expy as well as over 50 dining options within a 1 mile radius. The Property is also a block away from the famed Trump Miami Doral Resort, home to the prestigious WGC-Cadillac Golf Championship. Thriving Residential Developments

Named #2 of America’s top 25 cities to live by Forbes.com, Doral is one of the premier cities in Florida DORAL PLAZA due to its strong culture, burgeoning businesses, and highly educated workforce. Construction in Doral is booming as developers strive to meet an increased demand for housing. The addition of recently completed and proposed developments, including CityPlace Doral, Isles at Grand Bay, Urgent Care Facilities Landmark South, AMLI Doral, and 5252 & 5300 Paseo , makes Doral among the most exciting, dynamic, and fastest growing live/work/play cities in Florida. Direct Access to Florida’s Turnpike Easy Accessibility to Entire South Florida Region

The Property offers quick and easy access to the Palmetto Expressway and the Florida Turnpike, the main north-south arterial highways connecting the entire South Florida region and the Dolphin Expressway, the main west-east arterial highway connecting to the Miami International Airport in 9850 Building DORAL BOULEVARD/NW 41ST STREET less than 15 minutes and the Miami CBD. This location has made Doral among the most sought after residential and commercial areas in South Florida.

9800 Building Strong Neighborhood Demographics

The Property is located in the 3rd fastest growing city in the United States, with population growth 4090 Building of 7% over the previous year and 130% over the last 10 years. Doral has experienced three times Costa Del Sol the population growth rate, has a 20% younger population, and boasts a 30% higher income Direct Access to levels than those in Miami-Dade County. Over 50% of Doral residents have a bachelor’s degree Golf Club SH 826/Palmetto Expy or higher with an average household income that exceeds $85,000, reflecting the desirability of living in Doral and its ease in attracting high income professional workers.

NW 97TH AVENUE Highly Educated Workforce

Direct Access to Over 150,000 employees work in the City of Doral, making it one of the densest employment SH 836/Dolphin Expy centers in all of South Florida. The city has established itself as a nexus for global trade, logistics, finance, television, pharmaceuticals and healthcare, among dozens of other industries. Its location allows it to draw upon a large pool of prospective employees, attracting Fortune 500 companies into submarket including World Fuel Services, Carnival Cruise Line, Univision, Pepsi Bottling Company, Perry Ellis International, and more. Royal Poinciana Blvd

NW 54th Street 944 Institutional Quality Asset 826 969 Doral Golf Resort & Spa 25 953 Doral Costa Office Park is a Class A, institutional quality asset featuring modern architecture in Doral Costa Miami Springs Golf and Curtiss Parkway Country Club

a 17-acre manicured tropical setting. Built in 2001 and 2006, the buildings were constructed to NW 41st Street NW 72nd Avenue 72nd NW Federal NW 36th Street Hurricane Category 5 Standards and provide over 200 covered parking spaces. The buildings Reserve 948 Building NW 36th Street Costa Greens 948 have received over $1.2 million in capital improvements over the past several years and Golf Club 953 U.S. Southern have been maintained to the finest standards. The Property has benefited from institutional Command ownership by TA Realty, achieving an ENERGY STAR rating for the 9850 Building. CITY OF DORAL

NW 87th Avenue 87th NW Miami

Airport Expressway Airport NW 107th Avenue 107th NW NW 25th Street International Airport Offered at a Discount to Replacement Cost NW 21st Street

Florida's Turnpike

Miami 969 A recent surge in construction costs and land values in the City of Doral has significantly driven Dolphin Mall International up the replacement cost for new office buildings, which now exceeds $400 per square foot for Mall Expressway Palmetto D y 836 olphi esswa NW 12th Street n Expr Class A office space. Doral Costa Office Park may be acquired at well below replacement cost, Dolphin Expressway

Fontainebleau making the acquisition a very compelling investment. 836 973 NW 7th Street Golf Course 985 Mall Of The Americas 968 Flagler Street

Unencumbered by Existing Debt 968

SW 49th Avenue 49th SW SW 57th Avenue 57th SW The Property is being offered on a free and clear basis, which allows an investor to take Avenue 67th SW SW 8th Street

SW 97th Avenue 97th SW 90 41 SW 107th Avenue 107th SW advantage of today’s strong lending markets to generate significant levered returns. 90 Avenue 87th SW N

FIU University Park Campus 826

For additional information, please contact any member of the HFF transaction team noted below.

INVESTMENT SALES TEAM FINANCING

hfflp.com HERMEN RODRIGUEZ IKE OJALA JORGE PORTELA TRACEY GOO CHRISTINA KONG PAUL STASAITIS Senior Managing Director Director Associate Director Senior Analyst Analyst Senior Managing Director (305) 448-5332, Ext. 136 (305) 774-6810, Ext. 133 (305) 913-5552, Ext. 165 (305) 421-6548, Ext. 148 305-448-1333, Ext. 167 305-448-1333, Ext. 103 1450 Brickell Avenue [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] Suite 2950 Miami, Florida 33131 Telephone: (305) 448-1333 Fax: (305) 448-6767

Holliday Fenoglio Fowler, L.P. (“HFF”) a Florida licensed real estate broker.

©2015 HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

HFF has been engaged by the owner of the Portfolio to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.