Gateway Point Two-Story Single Tenant Office Building | 50,931 SF 10051 5th Street North, St. Petersburg, The Capital Markets Group of Cushman & Wakefield has been retained by the Owner as the exclusive agent for the sale of Gateway Point (the “Property”), a 50,931 rentable square foot (rsf) office building center property located in St. Petersburg, FL.The owner has not established a specific asking price but is a sophisticated, market sensitive seller with expectations of achieving the value that premium assets of this quality command.

INVESTMENT HIGHLIGHTS • CREDIT TENANCY – 100% leased to JSA Healthcare Corporation, a subsidiary of DaVita, Inc. (S&P Rated BB). • BELOW MARKET RENT - In-place rent is 4% below market, providing upside upon renewal. • PURCHASE PRICE SIGNIFICANTLY BELOW REPLACEMENT COST. • RECENT CAPITAL IMPROVEMENTS BY LANDLORD AND TENANT - Tenant has significant improvements scheduled including upgrades to restrooms, security systems, reception areas, and the first-floor lobby. • SUPERIOR LOCATION AND VISIBILITY – Ideally located in the Gateway submarket on the Southwest Corner of 4th Street North and Gandy Boulevard and in the immediate vicinity of executive and workforce housing, with over 10k multifamily units within a 3-mile radius, restaurants, and other amenities with visibility from both major roadways. • ABOVE MARKET PARKING RATIO – The Property’s 5.1 per 1,000 sf parking ratio is ideal for dense suburban office users providing a competitive advantage. • STRONG MARKET FUNDAMENTALS – The market posted over 705,000 sf of positive absorption in 2016, significantly reducing vacancy. Additionally, average asking rates in the MSA have increased 5% in the last twelve months. • EXCEPTIONAL ACCESS – The Property fronts Gandy Boulevard and provides easy access to Interstate 275, Ulmerton Road, and the . • HIGH BARRIERS TO ENTRY - Located in the most densely populated county in the state of Florida, a virtual lack of development sites coupled with rising construction costs makes new development non-competitive, which will result in continued rental growth for the existing product. • STRONG ECONOMIC DRIVERS - Tampa Bay’s economy surged over the past year, adding 28,400 jobs. The Tampa MSA unemployment rate fell by 20 basis points over the last twelve months to 4.9%. Job growth, and the attraction of new office and industrial using businesses to the region, remains one of the leading factors for Tampa Bay’s success. • ROADWAY IMPROVEMENTS - The Gandy Express Project, construction of a six-lane elevated roadway is scheduled to be completed in 2017 and will improve traffic flow on Gandy Boulevard and around 4th and 9th Streets, where about 43,000 vehicles a day converge. Offering Summary 3.25 Years LEASE TERM REMAINING

3.73± 50,931 SF ACRES TOTAL SIZE

100% $537,263 OCCUPANCY IN-PLACE NOI

9.1% $5,900,000 CAP RATE ASKING PRICE PROPERTY DESCRIPTION Centrally located in the most densely populated county in the State of Florida, Gateway Point is a two-story suburban office building. The Property is centrally located on the Southwest Corner of 4th Street North and Gandy Boulevard, with visibility from both roads. Built in 1978, the Property has steel frame construction with a brick façade and tinted glass, giving it a distinctive and classic look. The Property has an interior courtyard, providing an abundance of natural light and allowing for both exterior and interior views. The parking ratio of 5.1 spaces per 1,000 sf is above market and includes 20 covered spaces. Gateway Point has been well-maintained and has received several recent capital improvements including a roof replacement. The Property is 100% leased to JSA Medical Group, a subsidiary of DaVita, Inc.

PROPERTY POSITIONING Gateway Point is conveniently located within the “Gateway” submarket, centrally located in County and equidistant to the Tampa and St. Petersburg CBD’s. This central location just south of Carillon, Tampa Bay’s premier mixed use park, and north of the St. Petersburg CBD is proximate to both executive and workforce housing and allows tenants to draw an employment base from both sides of Tampa Bay while realizing cost savings through economical rental rates and free parking. With its convenient location, Gateway Point is strategically positioned to take advantage of the fast rising rental rates in the CBD as tenants are being priced out of downtown. The Property is near several restaurants, a grocery store, and in-line retail all of which provide a rich amenity base for tenants. The Property has superior access to the Gandy Bridge, which crosses Tampa Bay and is located near Interstate 275 and the Howard Frankland Bridge, which connects Northern St. Petersburg to Westshore and Tampa International Airport. Gateway Point provides users reasonably priced, high-quality office space in a convenient location. The lack of development sites available coupled with the high cost of new construction provides assurance of the Property’s success well into the future.

DEMOGRAPHIC OVERVIEW Located along Florida’s West Coast, Tampa Bay is one of the fastest growing areas of the United States. The four-county metropolitan statistical area (MSA) of Hillsborough, Pinellas, Pasco and Hernando counties is home to 2.9 million people, making it Florida’s largest MSA, the second-largest MSA in the Southeast and the 18th largest MSA in the United States. The Tampa MSA has experienced population growth averaging 1.5% annually over the last 10 years and ranks high in the number of households, effective buying income, and retail activity, not only in Florida and the Southeast but also among all MSA’s in the United States. Realizing a positive 3.1% increase in year-over-year job growth (from December 2015 to December 2016), the state has posted a seasonally adjusted total of 254,400 new jobs. This growth equates to the state producing 77 consecutive months of positive job growth as of December 2016. Florida’s annual job growth rate has exceeded the nation’s rate since May 2012.

PINELLAS COUNTY HIGHLIGHTS • More than 34,000 businesses make their home in Pinellas County, a 280-square-mile peninsula between the Gulf of Mexico and Tampa Bay. • Pinellas County leads Florida’s 21-county High Tech Corridor with 34% of medical-technology companies according to research by the University of South Florida. • Forbes magazine named the the top location in the state for technology related jobs. • Within the Florida High Tech Corridor, Pinellas County employs 16% of the optics and photonics employees and 29% of aviation and aerospace employees.

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R oooo For a complete Offering Memorandum, Wendy Giffin Rick Brugge sev el Director Executive Director t B please visit the website below to ou le +1 813 204 5346 +1 813 223 6300 va download the Confidentiality Agreement. rrdd [email protected] [email protected] www.bit.ly/GatewayPoint2017

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