SHOPPES of HILLSBORO 2201-2265 West Hillsboro Boulevard • Deerfield Beach, Florida 33442 NON - ENDORSEMENT and DISCLAIMER NOTICE

Offering Memorandum

SHOPPES OF HILLSBORO 2201-2265 West Hillsboro Boulevard • Deerfield Beach, Florida 33442 NON - ENDORSEMENT AND DISCLAIMER NOTICE

Confidentiality and Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap Real Estate Investment Services of Florida, Inc. ("Marcus & Millichap") and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement Notice Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

SHOPPES OF HILLSBORO Deerfield Beach, FL ACT ID ZAA0390656

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TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01 Offering Summary Location Overview Tenant Profile Regional Map Local Map Aerial Photo

FINANCIAL ANALYSIS 02 Assumptions Tenant Summary Lease Expiration Summary Property Summary Cash Flow Valuation & Return Summary

MARKET COMPARABLES 03 Sales Comparables Lease Comparables

MARKET OVERVIEW 04 Market Analysis Demographic Analysis

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INVESTMENT OVERVIEW

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OFFERING SUMMARY EXECUTIVE SUMMARY

VITAL DATA CURRENT PRO FORMA Price $14,500,000 CAP Rate 7.03% 9.24% MAJOR EMPLOYERS Down Payment 35% / $5,075,000 Net Operating Income $1,019,619 $1,339,392 Net Cash Flow After Debt Loan Amount $9,425,000 10.50% / $532,853 18.07% / $917,242 Service EMPLOYER # OF EMPLOYEES Loan Type 10-YR I/O Total Return 10.50% / $532,853 18.07% / $917,242 Sunbeam 5,690 Interest Rate 4% / Interest Only American Traveler Staff Prof L 3,103 Gross Leasable Area (GLA) 61,456 SF Boca Raton Resort and 1,800 Price/SF $235.94 Lynn Rgnal Cncer Ctr Boca Rton 1,800 Current Occupancy 95.77% Valdor Apparel 1,800 Year Built / Renovated 1992 / 2016 Lot Size 7.33 acre(s) CB&i LLC 1,548 Sun Mackie LLC 1,437 JM & A Group 1,357 MAJOR TENANTS Fau 1,349 TENANT GLA LEASE EXPIRATION LEASE TYPE Boca Raton Community Hospital 1,332 Bank United 4,000 01/31/2020 NNN North Broward HSP Aux Gift Shop 1,200 Comunidade Evangelica International 16,000 11/30/2021 NNN Annie L Weaver Health Center 1,027

Optimum Bank 2,500 10/31/2022 NNN

Jbyrd’s Muddy Waters Restaurant & Raw Bar 5,200 02/28/2020 NNN DEMOGRAPHICS Sage Dental of Deerfield Beach 3,600 09/30/2027 NNN

1-Miles 3-Miles 5-Miles EXPENSES 2018 Estimate Pop 12,450 136,445 305,195 CURRENT $/SF 2010 Census Pop 11,627 126,439 281,314

Utilities $76,820 $1.25 2018 Estimate HH 7,401 60,662 129,049 2010 Census HH 6,861 56,168 118,562 Contract Services $92,184 $1.50 Median HH Income $35,914 $53,458 $57,150 Repairs & Maintenance $30,728 $0.50 Per Capita Income $35,228 $34,739 $37,749 Insurance $43,019 $0.70 Average HH Income $59,004 $77,832 $88,316 Real Estate Taxes $232,830 $3.79

Management Fee $46,243 $0.75

TOTAL $521,824 $8.49

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OFFERING SUMMARY INVESTMENT OVERVIEW

Marcus & Millichap is proud to present Shoppes of Hillsboro, a 61,456 square foot retail center located in Deerfield Beach, Florida. This neighborhood retail plaza is situated on two contiguous parcels totaling 7.33 acres (319,407 square feet) with an inline strip plus three, single-tenant pads. Shoppes of Hillsboro is 96 percent occupied by a diverse tenant base on both short-term and long-term leases at market level rents with 3 percent annual increases and renewal options. The property’s diverse tenant mix includes medical, financial, clerical, food service, and sundry retail and service businesses. This stabilized retail property provides excellent cash-flows during the holding period yielding a levered internal rate of return of 15.24 percent and a solid cash-on-cash return of 10.50 percent.

Shoppes of Hillsboro has 1,000 feet of direct frontage on West Hillsboro Boulevard, a busy east-west thoroughfare with high traffic counts of over 44,500 Vehicles Per Day (VPD). This property is just off the busy North Miami Trail and West Hillsboro intersection and less than one mile west of Interstate-95. With the AMTRAK Deerfield Beach station less than one mile to the east, and proximity to the Sawgrass Expressway, Florida Turnpike, and US-441, this property provides easy access to Boca Raton, Fort Lauderdale, Pompano Beach, and Hollywood.

This neighborhood retail plaza has robust demographics and strong retail and residential presence in the surrounding area. With a population of 136,445 and an average household income of $77,832 within a three-mile radius, this property sustains the increasing purchasing power of consumers to meet demand. Directly to the South of the subject property is Century Village, a large gated retirement community containing over 6,000 condominiums and over 100,000 square feet of entertainment, education, and recreational space across Hillsboro Boulevard. These residents utilize the community’s private daily transportation service to access local shopping, dining, and medical services. To the North of the subject property is Deer Creek Golf & Country Club, a public access golf and banquet facility in a 600-acre residential community. Shoppes of Hillsboro receives high foot traffic from the immediate surrounding national tenants including Super Target, Publix, Marshalls, Sports Authority, Panera Bread Supercuts, and Walgreens. This investment is an exclusive opportunity to enter this limited submarket and compete due to the shrinking supply of developable land.

INVESTMENT HIGHLIGHTS

▪ Secure, Stable NOI Growth with Many of the Leases Including 3% Annual Rent Increases ▪ Year-1 Net Operating Income: $1,000,000 ▪ Diverse and Stable Tenant Base Includes Medical, Financial, Clerical, Food Service, and Sundry Retail and Service Business ▪ Inline Strip Plus Three Single Tenant Pads

▪ Historically High Occupancy in a High Barrier to Entry Submarket ▪ Premier Frontage of Busy West Hillsboro Blvd, Which Has High Traffic Counts of Over 44,500 VPD

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OFFERING SUMMARY INVESTMENT OVERVIEW

Shoppes of Hillsboro has been exceptionally maintained and provides professional curb appeal, high visibility signage opportunities, and ample parking. This property offers building signage opportunities for tenants. There are approximately 400 surface parking spaces, providing for a healthy parking ratio of 6.5 spaces per 1,000 square feet of rentable space. This property was built in 1982 and has been fully renovated in 2016 including common area upgrades, parking lot resurfaced with asphalt, and fresh exterior paint jobs. The diverse tenancy mix includes a Bank United, Optimum Bank, and Comunidad Evangelical Church as the outparcels and Sage Dental and Muddy Waters Restaurant & Bar as some of the inline tenants. Bank United has a three-lane drive through and holds over $99 million in deposits, 7.5% of total bank deposits in Deerfield Beach. This asset is strongly sought after by both investors and owner-users alike. Investors continue to flood into this high-growth submarket as rents continue to increase. This asset is extremely easy to manage and typically has a long list of tenants looking to occupy the property given the location, convenience, and overall condition of the property.

INVESTMENT HIGHLIGHTS

▪ Great Exposure With Excellent Visibility ▪ Robust Demographics and Growing Submarket With a Population of 136,445 and Average Household Income of $77,832 Within a Three-Mile Radius

▪ Limited Entry Opportunities for Competitors in the Immediate Area Due to Shrinking Supply of Developable Land

▪ Healthy Parking Ratio of 6.5 : 1,000 SF ▪ 61,456 Square Foot Retail Shopping Center ▪ Proximity to I-95, Sawgrass Expressway, US-1, Florida's Turnpike, and US-441

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OFFERING SUMMARY

PROPERTY SUMMARY DEMOGRAPHICS

THE OFFERING POPULATION 1 Miles 3 Miles 5 Miles ▪ 2023 Projection Property Shoppes of Hillsboro Total Population 12,239 138,897 312,582 Price $14,500,000 ▪ 2018 Estimate Property Address 2201-2265 West Hillsboro Boulevard, Deerfield Beach, FL Total Population 12,450 136,445 305,195 Assessors Parcel Number 4842-02-03-0010,0020 ▪ 2010 Census Zoning B-1, Deerfield Beach Total Population 11,627 126,439 281,314 ▪ 2000 Census SITE DESCRIPTION Total Population 13,697 122,923 265,642 Number of Stories 1 ▪ Current Daytime Population Year Built/Renovated 1982/2016 2018 Estimate 13,880 138,448 353,483 Gross Leasable Area 61,465 SF HOUSEHOLDS 1 Miles 3 Miles 5 Miles Ownership Fee Simple ▪ 2023 Projection Lot Size 7.33 Total Households 7,338 62,390 133,616 Parking 400 Surface Parking Spaces ▪ 2018 Estimate Parking Ratio 6.5 : 1,000 SF Total Households 7,401 60,662 129,049 Topography Level Average (Mean) Household Size 1.73 2.21 2.29 Access Points W Hillsboro Blvd ▪ 2010 Census UTILITIES Total Households 6,861 56,168 118,562 ▪ 2000 Census Roof Type Flat / Bar Joist Concrete Total Households 8,249 55,833 115,553 Electric Yes, City y of Deerfield Beach ▪ Occupied Units Water Yes, City of Deerfield Beach 2023 Projection 7,338 62,390 133,616 Sewer Yes, City of Deerfield Beach 2018 Estimate 10,539 68,663 146,396 Trash Yes, City of Deerfield Beach HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles CONSTRUCTION ▪ 2018 Estimate Foundation Stem Wall $150,000 or More 5.98% 9.82% 12.43% Interior Drywall/Plaster $100,000 - $149,000 7.93% 11.98% 12.65% Exterior C.B Stucco $75,000 - $99,999 8.02% 11.43% 11.91% $50,000 - $74,999 16.43% 19.79% 18.89% Parking Surface Asphalt $35,000 - $49,999 12.58% 13.97% 13.66% Roof Tar & Gravel Under $35,000 49.06% 33.01% 30.47% MECHANICAL Average Household Income $59,004 $77,832 $88,316 HVAC Yes Median Household Income $35,914 $53,458 $57,150 Fire Sprinklers Yes Per Capita Income $35,228 $34,739 $37,749

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TENANT PROFILE

Bank United Optimum Bank

General Information General Information

Tenant Name Bank United Tenant Name Optimum Bank

Website https://www.bankunited.com/ Website http://www.optimumbank.com/

Parent Company Bank United Ink Parent Company OptimumBank Holdings, Inc

Headquartered Miami Lakes, Florida Headquartered Fort Lauderdale, Florida

Rentable Square Feet 4,000 SF Rentable Square Feet 2,500 SF

Suite 2201 Suite 2215

Percentage of RBA 6.50% Percentage of RBA 4.07%

Lease Commencement 8/12/1993 Lease Commencement 6/20/2003

Lease Expiration 1/31/2020 Lease Expiration 10/31/2022

Renewal Options 3 5-Year Options Renewal Options -

Annual Increases 3% Increases -

No. of Locations 102 No. of Locations 3

NOTES NOTES Bank United is a national bank and wholly-owned subsidiary of BankUnited, Inc Optimum Bank was founded in November 2000 by a group of local Broward County (NYSE: BKU) and is headquarter in Maim Lakes, Florida. As of June 2019, businessmen. They decided to reverse the rend of out of state mega-banks and give BankUnited N.A has $33.1 billion in total assets. One of the largest independent the area a true community bank. In spirit of a “true” community bank, the directors depository institutions headquartered in Florida by assets, Bank United provides a provided local investors, both big and small, a chance to own a piece of the new wide range of commercial and consumer banking services. bank. The bank focuses on traditional in-person banking with business and consumers residing in South Florida. Our customers found a bank that isn’t charging the exorbitant feed they were experiencing at the larger institutions, a bank having unmatched expertise in real estate and commercial lending. Local banks are becoming rarer in South Florida. It’s the belief of the investors, directors and employees that a combination of internet and traditional community bank is the “optimum” way to bank.

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TENANT PROFILE

Muddy Waters Investors, Inc Sage Dental

General Information General Information

Tenant Name Muddy Waters Investors, Inc Tenant Name Sage Dental

Website https://muddywatersrestaurant.com/ Website Mysagedental.com

Parent Company Muddy Waters Restaurant Parent Company Sage Dental

Headquartered Deerfield Beach Headquartered Boca Raton, Florida

Rentable Square Feet 5,200 SF Rentable Square Feet 3,600

Suite 2237 Suite 2265

Percentage of RBA 8.46% Percentage of RBA 5.86%

Lease Commencement 11/29/2003 Lease Commencement 05/01/2005

Lease Expiration 2/28/2020 Lease Expiration 09/30/2027

Renewal Options 2 5-Year Options Renewal Options -

Annual Increases 3% Annual Increases -

No. of Locations 1 No. of Locations 60+

NOTES NOTES Muddy Waters is the place to go in Deerfield Beach for the best lobster, fresh At Sage Dental our team of general dentists, specialists and dental hygienists seafood and the island vibe. We have two separate dining areas, two unique bars, provide comprehensive general and specialty care together in each of our 60+ privacy or social interaction and Muddy’s outside covered patio seating. locations. This seamless delivery of care is more convenient for our patients as it eliminates outside referrals and reduces visits. Our doctors work together to assure a complete solution to any dental need.

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SITE PLAN

*This Site Plan is not up-to-date. Tenant mix varies

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PRICINGPRICING ANDANDLOCATIONLOCATION VALUATIONVALUATIONTENANT OVERVIEW OVERVIEWSUMMARY MATRIXMATRIX

2201-2265 West Hillsboro Boulevard, Deerfield Beach, FL 33442

CLOSE PROXIMITY TO:

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REGIONAL MAP

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LOCAL MAP

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Deer Creek Golf Club AERIAL PHOTO

W Hillsboro Blvd – Over 44,500 VPD

Century Village Century Village

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AERIAL PHOTO

Deer Creek Golf Club

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AERIAL PHOTO Century Village

W Hillsboro Blvd – Over 44,500 VPD

Deer Creek Golf Club

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AERIAL PHOTO Deer Creek Golf Club

W Hillsboro Blvd – Over 44,500 VPD

Century Village

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AERIAL PHOTO

Century Village W Hillsboro W Hillsboro Blvd

Deer Creek Golf Club

– Over 44,500VPD

Century Village

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AERIAL PHOTO

Century Village

Deer Creek Golf Club

Century Village

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AERIAL PHOTO

N Military N Trail

– Over 27,000 VPDOver 27,000 SUBJECT PROPERTY

W Hillsboro Blvd – Over 44,500 VPD

Walgreens

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PROPERTY PHOTO

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PROPERTY PHOTO

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PROPERTY PHOTO

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PROPERTY PHOTO

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PROPERTY PHOTO

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FINANCIAL ANALYSIS

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FINANCIAL ANALYSIS ASSUMPTIONS

Year 1 Year 2 Bank Outparcel Large Outparcel Inline For the Years Ending Dec-2020 Dec-2021 Term Length (Years/Months) 10/0 5/0 5/0 Property Market Assumptions Renewal Probability 75.00% 75.00% 75.00% General Inflation 0.00% 3.00% Market Inflation 0.00% 3.00% Months Vacant 10 6 6 Expense Inflation 0.00% 3.00% Months Vacant (Blended) 2.5 1.5 1.5 CPI Inflation 0.00% 0.00% Capital Expenditures ($/SF) 0.20 0.21 Market Base Rent (UOM) $ / SF / Year $ / SF / Year $ / SF / Year General Vacancy (%) 4.00% 4.00% Market Base Rent (New) 28 15 20 Market Base Rent (Renewal) 28 15 20 Market Base Rent (Blended) 28 15 20

Market Rental Value (UOM) Continue Prior Continue Prior Continue Prior Market Rental Value Continue Prior Continue Prior Continue Prior

New Free Rent (Months) 3 3 3 NOTES Renewal Free Rent (Months) 1 1 1 - Underwriting analysis starts January 1, 2020 Blended Free Rent (Months) 1.5 1.5 1.5

- Bank Outparcel assumption applies to Bank United & Optimum Bank Recovery Type Net + 5% Admin Net + 5% Admin Net + 10% Admin Fee - Large Outparcel assumptions applies to Comunidad Evegelica Tenant Improvements (UOM) $ / Area $ / Area $ / Area - Inline assumptions apply to every other tenant (Including Vacant) Tenant Improvements (New) 15 15 15 - Underwriting analysis assumes tenants will exercise their renewal options at their Tenant Improvements (Renew) 5 5 5 scheduled increases Tenant Improvements (Blended) 7.5 7.5 7.5 - For those tenant with no scheduled increases or renewal options, upon expiration refer to Market Leasing Assumptions Leasing Commissions (New UOM) Fixed % Fixed % Fixed % - Vacant space absorption is assumed to occur at analysis start date Leasing Commissions (New) 6.00% 6.00% 6.00% Leasing Commissions (Renew UOM) Fixed % Fixed % Fixed % - Utilities expenses include electricity, water, and sewer Leasing Commissions (Renew) 3.00% 3.00% 3.00% - Contract Services expense includes janitorial, landscaping, and waste Leasing Commissions (Blended) 3.75% 3.75% 3.75%

- Property taxes are based on the list price (Note property taxes are calculated using Ad-Valorem taxes only) Upon Expiration Bank Outparcel Large Outparcel Inline

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FINANCIAL ANALYSIS TENANT SUMMARY

% Annual Renewal Options Square Bldg Lease Dates Rent per Total Rent Total Rent Lease and Option Year Tenant Name Suite Feet Share Comm. Exp. Sq. Ft. Per Month Per Year Type Rental Information 3 5-Yr Renewal Options with 3% Annual Bank United 2201 4,000 6.5% 1/16/10 1/31/20 $26.44 $8,813 $105,754 NNN Increases Comunidade Evengelica 2205 16,000 26.0% 4/1/11 11/30/21 $12.50 $16,667 $200,000 NNN 1 10-Yr Renewal Option at Market Rent Internacional Optimum Bank 2215 2,500 4.1% 12/1/17 10/31/22 $26.79 $5,581 $66,976 NNN No Options. Cakes D' Sabores 2217 1,300 2.1% 8/10/15 9/30/22 $14.37 $1,557 $18,686 NNN 1 3-Yr Renewal Option at Market Rent Mr. Mail Ect. Corp 2219 1,300 2.1% 4/1/19 3/31/22 $17.22 $1,866 $22,386 NNN 3% Annual Increases Vacant 2221 1,300 2.1% $0.00 $0 $0 New Art Gallery 2223 1,300 2.1% 11/1/16 10/31/21 $12.55 $1,360 $16,315 NNN 2 3-Yr Renewal Options at Market Rent 2 5-Yr Renewal Options with 3% Annual I Do Nail Salons LLC 2227 1,300 2.1% 4/22/13 7/1/23 $18.25 $1,977 $23,723 NNN Increases Denys Volkov LLC 2227-A 1,300 2.1% 6/1/18 5/31/23 $14.17 $1,535 $18,421 NNN No Options. PowerNap Sleep Centers 2229 1,300 2.1% 12/1/06 2/28/20 $21.83 $2,365 $28,379 NNN No Options. 4 3-yr Renewal Options with 3% Annual Annie's Unisex Salon 2233 1,520 2.5% 11/1/16 10/31/19 $14.22 $1,801 $21,618 NNN Increases Sterling Bay Int. Realty 2235 1,000 1.6% 6/1/18 5/31/23 $14.20 $1,183 $14,197 NNN No Options. 2 5-Yr Renewal Options with 3% Annual Muddy Water Solutions 2237-43 5,200 8.5% 11/29/03 2/28/20 $22.28 $9,657 $115,881 NNN Increase My Vapor Hut 2245 1,300 2.1% 4/4/14 4/30/20 $17.21 $1,865 $22,378 NNN No Options. Vacant 2247 1,300 2.1% $0.00 $0 $0 NNN VD Investments Groups (Gusticos) 2249 1,300 2.1% 2/1/19 1/31/22 $18.23 $1,975 $23,699 NNN No Options.

Milano Doors Showroom 2255 3,691 6.0% 6/1/18 6/30/23 $13.91 $4,278 $51,334 NNN No Options. Iglesia Pentecostal Unida Latinoame 2257 2,932 4.8% 2/5/12 1/31/22 $14.75 $3,605 $43,260 NNN No Options. Cora Health Services 2259-A 3,100 5.0% 10/31/02 4/30/27 $18.30 $4,727 $56,730 NNN No Options. E-Fit 2263 1,313 2.1% 7/1/18 6/30/20 $14.19 $1,553 $18,631 NNN No Options. 1 2-Yr Renewal Option with 2% Annual Deerfield Auto Tag 2265-A 2,000 3.3% 7/22/13 4/30/22 $30.38 $5,063 $60,758 NNN Increases Sage Dental Management LLC 2265-2A 3,600 5.9% 5/1/05 9/30/27 $18.25 $5,476 $65,708 NNN No Options 1 6-Yr Renewal Option With 3% Annual DTRT Insurance Group 2265-B 1,600 2.6% 2/4/08 2/28/20 $28.76 $3,835 $46,024 NNN Increases Total 61,456 $16.94 $86,738 $1,040,856

Occupied Tenants: 21 Unoccupied Tenants: 2 Occupied GLA: 95.77% Unoccupied GLA: 4.23%

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FINANCIAL ANALYSIS LEASE EXPIRATION SUMMARY

Lease Expiration Summary

100% 20 Number of Number Tenants

80% 15

60%

40% Percentage of Square Footage Expiring Footage Square of Percentage

5 20%

0% 0 Jul-2019 Jul-2020 Jul-2021 Jul-2022 Jul-2023 Jul-2024 Jul-2025 Jul-2026 Jul-2027 Jul-2028 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10

% of SQFT Expiring Cumulative % of SQFT Expiring Number of Commercial Leases/Tenants Expiring

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FINANCIAL ANALYSIS PROPERTY SUMMARY

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FINANCIAL ANALYSIS CASH FLOW

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FINANCIAL ANALYSIS CASH FLOW

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FINANCIAL ANALYSIS VALUATION & RETURN SUMMARY

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FINANCIAL ANALYSIS VALUATION & RETURN SUMMARY

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ACQUISITION FINANCING

MARCUS & MILLICHAP CAPITAL CORPORATION WHY MMCC?

CAPABILITIES Optimum financing solutions to enhance value MMCC—our fully integrated, dedicated financing arm—is committed to providing superior capital market expertise, precisely managed execution, and unparalleled access to capital sources providing the most competitive rates and Our ability to enhance buyer terms. pool by expanding finance options We leverage our prominent capital market relationships with commercial banks, life insurance companies, CMBS, private and public debt/equity funds, Fannie Mae, Freddie Mac and HUD to provide our clients with the greatest range of Our ability to enhance financing options. seller control • Through buyer Our dedicated, knowledgeable experts understand the challenges of financing qualification support and work tirelessly to resolve all potential issues to the benefit of our clients. • Our ability to manage buyers finance expectations • Ability to monitor and manage buyer/lender progress, insuring timely, predictable closings • By relying on a world class Closed 1,678 National platform 6.24 billion Access to more set of debt/equity sources debt and equity operating billion total capital sources financings within the firm’s national than any other and presenting a tightly in 2018 brokerage offices volume in 2018 firm in the underwritten credit file industry

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MARKET COMPARABLES

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SALES COMPARABLES MAP

SHOPPES OF HILLSBORO (SUBJECT)

1 Gateway Center

2 The Crossroad Retail Park

3 Winston Park Shoppes II

SALES COMPARABLES

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SALES COMPARABLES SALES COMPARABLES SALES COMPS AVG

Average Price Per Square Foot

$400.00

$360.00

$320.00

$280.00 Avg. $268.14

$240.00

$200.00

$160.00

$120.00

$80.00

$40.00

$0.00 Shoppes of Gateway The Winston Hillsboro Center Crossroad Park Retail Park Shoppes II

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SALES COMPARABLES SALES COMPARABLES SALES COMPS AVG

Average Cap Rate

8.0

7.2

6.4

Avg. 5.62% 5.6

4.8

4.0

3.2

2.4

1.6

0.8

0.0 Shoppes of Gateway The Winston Hillsboro Center Crossroad Park Retail Park Shoppes II

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SALESMARKETING COMPARABLES TEAM

SALES COMPARABLES

GATEWAY CENTER THE CROSSROAD RETAIL PARK SHOPPES OF HILLSBORO 2000 E Sample Road, Lighthouse Point, FL, 33064 2201 W Sample Rd, Pompano Beach, FL, 33073 2201-2265 West Hillsboro Boulevard, Deerfield Beach, FL, 33442 1 2

rentpropertyname1 rentpropertyname1 rentpropertyname1

(Some) Tenants Lease Type Tenants Lease Type Tenants Lease Type Close Of Close Of Asking Price: $14,500,000 Bank United NNN 10/23/2018 Bonefish Mac's Sport NNN 8/29/2018 Pawn Shops NNN Escrow: Escrow: Price/SF: $235.94 Optimum Bank NNN Sales Price: $11,850,000 Body & Soul Retreat NNN Sales Price: $6,100,000 Metro PCS NNN CAP Rate: 7.03% Muddy Waters NNN Price/SF: $318.08 Woof Gang Bakery NNN Price/SF: $244.00 Work Boots NNN Year Built: 1992/2016 Sage Dental NNN CAP Rate: 6.64% CAP Rate: 4.6% Massage Parlor NNN Year Built: 2003 Year Built: 1986

rentpropertyaddress1Annual Per SF rentpropertyaddress1Annual Per SF rentpropertyaddress1Annual Per SF Income $1,541,443 $25.08 Expenses $340,000 $9.13 NOI $280,600 $11.22 Expenses $521,824 $8.49 NOI $786,840 $21.12 Expenses - - NOI $1,019,619 $16.59 Income - - Income - - Occupancy 95.77% - Occupancy 95% Occupancy 95% -

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SALESMARKETING COMPARABLES TEAM

SALES COMPARABLES

WINSTON PARK SHOPPES II 5463 Lyons Road, Coconut Creek, FL, 33073

rentpropertyname1 rentpropertyname1 rentpropertyname1

Tenants Lease Type Close Of 5/3/2018 Schwartz Deli & Gril NNN Escrow: Sales Price: $4,016,250 The Vitamin Shoppe NNN Price/SF: $242.35 Lemon Tree Cafe NNN Year Built: 2006 NNN

NOTES rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1 Cap rate was not reported.

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COMPARABLE8 SHOPPING CENTERS

SHOPPES OF HILLSBORO (SUBJECT)

1 Trail Plaza Shopping Center

The Shoppes at Village 2 Pointe

3 Deer Run Retail Plaza

4 Trail Plaza Shopping Center

5 Deerfield Mall

6 Deer Creek Plaza

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COMPARABLE SHOPPING CENTERS AVERAGE OCCUPANCY

100 Avg. 94.12%

0 Shoppes of Trail Plaza The Shoppes Deer Run Trail Plaza Deerfield Deer Creek Hillsboro Shopping at Village Retail Shopping Mall Plaza Center Pointe Plaza Center-2

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COMPARABLE SHOPPING CENTERS AVERAGE RENT PER SQUARE FOOT

$21

$19 Avg. $18

$17

$15

$13

$11

$0 Shoppes of Trail Plaza The Shoppes Deer Run Trail Plaza Deerfield Deer Creek Hillsboro Shopping at Village Retail Shopping Mall Plaza Center Pointe Plaza Center-2

45 PROPERTYSHOPPES OFNAME HILLSBORO

COMPARABLE SHOPPINGMARKETING CENTERS TEAM

TRAIL PLAZA SHOPPING CENTER THE SHOPPES AT VILLAGE POINTE SHOPPES OF HILLSBORO 1799-1827 W Hillsboro Blvd, Deerfield Beach , FL, 33442 6006 SW 18th St, Boca Raton, FL, 33433 2201-2265 West Hillsboro Boulevard, Deerfield Beach, FL, 33442 1 2

rentpropertyname1 rentpropertyname1 rentpropertyname1

Total GLA Available SF Asking Rent/SF Total GLA Available SF Effective Rent/SF Total GLA Available SF Effective Rent/SF 61,456 SF 2,600 SF $17.35 81,848 SF 10,800 SF $18.00 9,009 SF 0 SF $20.00

YEAR BUILT: 1992/2016 OCCUPANCY: 87% | YEAR BUILT: 1979 OCCUPANCY: 100% | YEAR BUILT: 1986

rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1

NOTES NOTES This comparable represents 1,900 square feet to a retail tenant in February This lease represents 1,400 square feet leased to the Olive Pit in January 2019 for 5 years. 2018 for 5 years.

46 PROPERTYSHOPPES OFNAME HILLSBORO

COMPARABLE SHOPPINGMARKETING CENTERS TEAM

DEER RUN RETAIL PLAZA TRAIL PLAZA SHOPPING CENTER DEERFIELD MALL 3256-3264 W Hillsboro Blvd, Deerfield Beach , FL, 33442 1799-1827 W Hillsboro Blvd, Deerfield Beach , FL, 33442 3660-4060 W Hillsboro Blvd, Deerfield Beach , FL, 33442

3 4 5

rentpropertyname1 rentpropertyname1 rentpropertyname1

Total GLA Available SF Effective Rent/SF Total GLA Available SF Effective Rent/SF Total GLA Available SF Effective Rent/SF 6,000 SF 0 SF $15.00 81,848 SF 10,800 SF $18.00 398,963 SF 6,782 SF $15.00

OCCUPANCY: 100% | YEAR BUILT: 1988 OCCUPANCY: 87% | YEAR BUILT: 1975 OCCUPANCY: 98% | YEAR BUILT: 1988

rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1

NOTES NOTES NOTES This lease represents 1,250 sf leased to a retail tenant in November 2017 This lease represents 1,350 square feet leased to Klinik Body and Skin This lease represents 5,000 square feet leased to US Tops January 2017 for 5 years Care in March 2018 for a two-year lease for five years

47 PROPERTYSHOPPES OFNAME HILLSBORO

COMPARABLE SHOPPINGMARKETING CENTERS TEAM

DEER CREEK PLAZA 101-163 N Powerline Rd, Deerfield Beach, FL, 33442

rentpropertyname1 rentpropertyname1 rentpropertyname1

Total GLA Available SF Effective Rent/SF 21,837 SF 1,600 SF $20.00

OCCUPANCY: 93% | YEAR BUILT: 1986

rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1

NOTES This lease represents 1,600 square feet leased to a retail tenant in October 2017 for 3 years

48 SHOPPES OF HILLSBORO

MARKET OVERVIEW

49 SHOPPES OF HILLSBORO

MARKET OVERVIEW BROWARD COUNTY OVERVIEW

Broward County is located in South Florida and contains a population of 1.9 million people. The county is bordered to the north and south by Palm Beach and Miami-Dade counties, respectively. On the east is the Atlantic Ocean and Big Cypress National Reserve is to the west. The Everglades cover the western portion of the county, restricting development. As limited land is available for construction, any significant growth is upward rather than outward. Roughly 23 miles of shoreline and 300 miles of inland waterways provide a wide range of recreation and transport uses. Fort Lauderdale is the largest city in the county with 180,700 residents followed by Pembroke Pines with 167,000 people.

METRO HIGHLIGHTS

STRONG POPULATION GROWTH Broward County’s population continues to grow at a pace well above the U.S. rate. In-migration accounts for a large share of new residents.

DESIRABLE CORPORATE LOCATION Companies are attracted to the metro for its proximity to Latin American markets, large educated workforce and desirable climate.

HOUSING AFFORDABILITY Home prices are more affordable in Broward County than in many other coastal counties.

50 SHOPPES OF HILLSBORO

MARKET OVERVIEW

ECONOMY ▪ Key economic drivers include tourism, healthcare, biotechnology and commerce. ▪ As a major point of access to both international trade and cruise tourism, Port Everglades generates roughly $30 billion of economic activity per year. ▪ The significant population of elderly residents results in healthcare playing a major role in the county’s economy. ▪ A diverse array of companies are headquartered in the area, including Citrix Systems, AutoNation and Heico.

MAJOR AREA EMPLOYERS

Ultimate Software Nova Southeastern University American Express Spirit Airlines Kaplan Higher Education Citrix Systems DHL Express JM Family Enterprises AutoNation Trividia Health * Forecast

SHARE OF 2018 TOTAL EMPLOYMENT

3% 18% 12% 11 % 7% MANUFACTURING PROFESSIONAL AND GOVERNMENT LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES BUSINESS SERVICES

22% 6% + 13% 2% 5% TRADE, TRANSPORTATION CONSTRUCTION EDUCATION AND INFORMATION OTHER SERVICES AND UTILITIES HEALTH SERVICES

51 SHOPPES OF HILLSBORO

MARKET OVERVIEW

DEMOGRAPHICS

▪ Since 2000, the county’s population has increased by roughly 278,000 residents. During the next five years, the county will add approximately 72,000 residents. ▪ In the same time period, the number of households will rise by 35,000. ▪ An increase in education attainment provides a skilled labor pool and has helped boost income levels. Almost 31 percent of residents age 25 and older have at least a bachelor’s degree.

2018 Population by Age

6% 18% 6% 27% 28% 16% 0-4 YEARS 5-19 YEARS 20-24 YEARS 25-44 YEARS 45-64 YEARS 65+ YEARS

2018 2018 2018 2018 MEDIAN POPULATION: HOUSEHOLDS: MEDIAN AGE: HOUSEHOLD INCOME: 1.9M 748K 40.3 $56,200 Growth Growth U.S. Median: U.S. Median: 2018-2023*: 2018-2023*: 3.8% 4.7% 38.0 $58,800

QUALITY OF LIFE Broward County has one of the most desirable climates in the United States and has a wide variety of recreational opportunities and cultural amenities. The metro boasts 300 days of ARTS & ENTERTAINMENT sunshine annually, and the average winter temperature is 78 degrees. Fort Lauderdale is known as the “Venice of America” for its inland canals. In addition, more than 145 marinas along Fort Lauderdale’s inland waterways cater to boating and fishing needs. Various professional sports are nearby in Miami. There are also more than 40 golf courses in the county. Other attractions include the NSU Art Museum Fort Lauderdale, the Broward Center for the Performing Arts, Flamingo Gardens, Museum of Discovery and Science, Symphony of the Americas and the International Swimming Hall of Fame.

*Forecast Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau

52 SHOPPES OF HILLSBORO

MARKET OVERVIEW SOUTH FLORIDA

Highly Competitive Market Still Contains Opportunistic Finds Across the Region Retail 2018 Outlook

Destination shopping remains solid driver. The world-class shopping reputation Y-O-Y Asking Y-O-Y that South Florida has worked to build continues to draw visitors and locals to area Metro Vacancy BasisPoint Rent Change retail, strengthening the market through vigorous demand. Robust retail spending Change among travelers and residents has spurred globally recognized brands to seek space across the region’s numerous luxury shopping corridors, with minimal concern over rising e-commerce popularity as South Florida offers shoppers a unique experience. Miami 4.0% 20 $36.50 2.6% Grocery stores, necessity-based retailers and gyms remain in expansion mode as well Fort Lauderdale 3.9% 20 $22.84 3.1% to meet the needs of a region that has roughly 275 people moving to the area every day. West Palm Beach 4.5% 20 $24.15 5.6%

Construction picks back up in 2018. Across South Florida, more than 2.6 million square feet are forecast to be delivered this year, nearing the cycle high set in 2014. Investment Trends The majority of new space has been rising in Miami-Dade County, where approximately 1.7 million square feet will open by year’s end, headlined by several Miami shopping centers with more than 100,000 square feet. Supply growth in Broward • A shortage of listings is straining activity, while cap rates remain in the mid-5 County hits a new high-water mark for the current cycle, with 750,000 square feet percent range countywide. Higher yields are available in Broward and Palm forecast to finish in 2018, including a new Lowe’s, a new Publix and multiple CVS Beach counties. pharmacies, as household growth remains strong. Palm Beach County experiences • Several years of robust asset appreciation, along with rising financing costs, minimal deliveries this year, contributing to some of the strongest rent growth in the could bring more properties to market as owners seek new assets in which to region. invest.

Fort Lauderdale • With an average cap rate in the low-6 percent territory, single-tenant yields here are the highest in the region, while national credit tenants can bring yields down to the mid-4 percent band. • Discounted pricing in Plantation, Pompano Beach and the southwest Broward area will keep investors active in the search of remaining upside.

West Palm Beach • Minimal construction and the fastest-growing population in South Florida will keep investors and retailers active in the search for prime locations across the county. * Cap rates trailing 12 months through 2Q18; 10-Year Treasury up to June 28. • Proximity to the new Brightline train station will be in high demand among Cap rate is average for Miami, Fort Lauderdale and West Palm Beach. Sources: CoStar Group, Inc.; Real Capital Analytics tenants and investors.

53 SHOPPES OF HILLSBORO

MARKET OVERVIEW SOUTH FLORIDA: FORT LAUDERDALE

2Q18 - 12-MONTH TREND

EMPLOYMENT CONSTRUCTION VACANCY RENTS

increase in total 585,000 square feet basis point decrease increase in the 1.3% employment Y-O-Y completed 20 in vacancy Y-O-Y 4.7% average asking rent Y-O-Y Y-O-Y • The construction sector led job • Just over 307,000 square feet • Net absorption of 384,000 • A still-tight vacancy rate growth over the past year, adding was completed in the first half of square feet during the past 12 supported a stronger lift to the 5,300 workers, though overall job 2018, bringing the 12-month total months trailed deliveries to lift average asking rent than the 2 gains were cut in half due to the above the 484,000 square feet the vacancy rate to 4.1 percent. percent rise posted last year, hurricane to total 10,800. At the added during the past year. A year ago the rate declined 160 climbing to $22.66 per square same time last year, employment • Dania Pointe remains the largest basis points. foot in June. grew 2.7 percent. project underway in Broward • The Southwest Broward • The multi-tenant segment led • Down 40 basis points from a year County, with a retail component submarket led tenant demand by rent growth with a 5.6 percent earlier to 3.5 percent in June, the of 500,000 square feet, trailed by a wide margin with net increase in June from a year ago unemployment rate hit its lowest the 300,000-square-foot City absorption of 235,000 square to $20.90 per square foot. level since the middle of 2007. Center Pembroke Pines. feet, followed by Hollywood, Single-tenant rent gains were where net absorption totaled close behind, up 4.4 percent to 71,000 square feet. $23.43 per square foot.

* Forecast

54 SHOPPES OF HILLSBORO

MARKET OVERVIEW SOUTH FLORIDA: FORT LAUDERDALE

Submarket Trends

Lowest Vacancy Rates 2Q18

Y-O-Y Asking Y-O-Y% Submarket Vacancy BasisPoint Rate Rent Change Change

Sawgrass Park 0.6% 20 $21.70 -15.6%

Southwest Broward 2.2% -80 $25.18 1.2%

* Forecast **2017-2022 Hallandale 2.8% 30 $22.98 7.7% Sales Trends Downtown Fort 3.9% 30 $38.77 29.1% Robust Cash Flows, Buyer/Seller Gap Limiting Listings Lauderdale • Multi-Tenant: Transaction volume during the trailing 12-month period ended in June Plantation 3.9% -30 $21.70 5.1% was down 24 percent from the prior period, while pricing lifted 3 percent to average $237 per square foot. • Single-Tenant: A 7 percent increase to the average price was recorded, rising to $427 Commercial Blvd. 4.3% 30 $15.49 -6.7% per square foot as suitable listings were limited, contributing to the 46 percent drop in deal flow over the past year. Hollywood 4.4% -40 $22.17 5.0%

Outlook: Investors will find it challenging Fort Lauderdale (City) 4.7% 50 $22.82 7.4% to locate properties that match acquisition criteria with more owners choosing to Cypress Creek 4.9% -70 $17.71 -7.5% hold and a wider buyer/seller gap. NW Broward/Coral 5.2% 70 $19.61 6.5% Springs

Pompano Beach 5.7% 140 $20.27 4.3%

Overall Metro 4.1% 20 $22.66 4.7%

Sources: CoStar Group, Inc.; Real Capital Analytics

55 SHOPPES OF HILLSBORO

MARKET OVERVIEW SOUTH FLORIDA

Capital Markets

• Fed raises benchmark rate, plans for additional increases. The Federal Reserve recently increased the federal funds rate by 25 basis points, lifting the overnight lending rate to 2 percent at the conclusion of its September meeting. The Fed noted inflation has broadly reached its target, while household spending and corporate investment remain robust. The Fed indicated an additional rate hike this year and projects as many as three increases in 2019.

• Lending costs rise alongside Fed rate increase. As the Fed lifts rates, lenders have been tightening margins to compete for loans. Despite these efforts, borrowing costs remain on an upward trajectory, which is tightening returns and pushing some investors to seek greater yields in secondary markets. However, though buyers may try to push back on pricing due to increased loan costs, some sellers remain convinced that the strong economy and sturdy NOI performance substantiate aggressive pricing and a widening expectation gap is the result. If interest rates rapidly surge upward, this gap could quickly widen, slowing transaction activity.

• The capital markets environment remains competitive. As the Fed tightens policy, global investors have been acquiring Treasurys in order to capture a considerable yield premium, keeping the 10-year Treasury near 3 percent. Portfolio lenders are providing debt for retail assets, with leverage typically capped at 60 to 65 percent. The sector has become increasingly nuanced, with deals more scrutinized due to e-commerce competition. Ten-year loan structures will range between 4.95 and 5.25 percent, depending on tenancy, location and sponsorship. Continued consumer spending underpins U.S. growth, supporting retail demand and driving a 10-basis-point decline in vacancy to 4.9 percent this year.

Through Sept. 26 Sources: CoStar Group, Inc.; Real Capital Analytics

56 PROPERTYSHOPPES OFNAME HILLSBORO

MARKETINGDEMOGRAPHICS TEAM Created on August 2019

POPULATION 1 Miles 3 Miles 5 Miles HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 Miles Total Average Household Retail ▪ 2023 Projection $49,224 $62,086 $65,084 Expenditure Total Population 12,239 138,897 312,582 ▪ Consumer Expenditure Top 10 ▪ 2018 Estimate Categories Total Population 12,450 136,445 305,195 Housing $14,561 $17,717 $18,530 ▪ 2010 Census Shelter $8,243 $10,315 $10,795 Total Population 11,627 126,439 281,314 Transportation $7,931 $11,435 $11,985 ▪ 2000 Census Food $5,235 $6,600 $6,932 Total Population 13,697 122,923 265,642 Health Care $4,192 $4,301 $4,448 ▪ Current Daytime Population Personal Insurance and Pensions $3,327 $5,280 $5,729 2018 Estimate 13,880 138,448 353,483 Utilities $3,025 $3,693 $3,833 HOUSEHOLDS 1 Miles 3 Miles 5 Miles Entertainment $1,997 $2,469 $2,623 ▪ 2023 Projection Apparel $1,426 $2,008 $2,124 Total Households 7,338 62,390 133,616 Household Furnishings and $1,370 $1,604 $1,698 ▪ 2018 Estimate Equipment Total Households 7,401 60,662 129,049 POPULATION PROFILE 1 Miles 3 Miles 5 Miles Average (Mean) Household Size 1.73 2.21 2.29 ▪ Population By Age ▪ 2010 Census 2018 Estimate Total Population 12,450 136,445 305,195 Total Households 6,861 56,168 118,562 Under 20 10.36% 19.86% 20.68% ▪ 2000 Census 20 to 34 Years 11.70% 18.70% 18.90% Total Households 8,249 55,833 115,553 35 to 39 Years 3.72% 6.17% 6.05% ▪ Occupied Units 40 to 49 Years 7.50% 12.47% 12.74% 2023 Projection 7,338 62,390 133,616 50 to 64 Years 17.42% 19.79% 20.12% 2018 Estimate 10,539 68,663 146,396 Age 65+ 49.31% 23.00% 21.52% HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles Median Age 64.59 44.43 43.65 ▪ 2018 Estimate ▪ Population 25+ by Education Level $150,000 or More 5.98% 9.82% 12.43% 2018 Estimate Population Age 25+ 10,785 102,223 224,181 $100,000 - $149,000 7.93% 11.98% 12.65% Elementary (0-8) 2.44% 3.19% 3.12% $75,000 - $99,999 8.02% 11.43% 11.91% $50,000 - $74,999 16.43% 19.79% 18.89% Some High School (9-11) 6.36% 5.74% 5.68% $35,000 - $49,999 12.58% 13.97% 13.66% High School Graduate (12) 34.58% 29.81% 28.01% Under $35,000 49.06% 33.01% 30.47% Some College (13-15) 18.42% 18.98% 19.20% Average Household Income $59,004 $77,832 $88,316 Associate Degree Only 7.59% 8.19% 8.38% Median Household Income $35,914 $53,458 $57,150 Bachelors Degree Only 17.12% 21.55% 22.30% Per Capita Income $35,228 $34,739 $37,749 Graduate Degree 12.00% 11.33% 12.02%

57 PROPERTYSHOPPES OF NAME HILLSBORO

MARKETINGDEMOGRAPHICS TEAM

Population Race and Ethnicity In 2018, the population in your selected geography is 12,450. The The current year racial makeup of your selected area is as follows: population has changed by -9.10% since 2000. It is estimated that the 83.30% White, 9.88% Black, 0.01% Native American and 1.33% population in your area will be 12,239.00 five years from now, which Asian/Pacific Islander. Compare these to US averages which are: represents a change of -1.69% from the current year. The current 70.20% White, 12.89% Black, 0.19% Native American and 5.59% population is 44.23% male and 55.77% female. The median age of the Asian/Pacific Islander. People of Hispanic origin are counted population in your area is 64.59, compare this to the US average independently of race. which is 37.95. The population density in your area is 3,968.51 people per square mile. People of Hispanic origin make up 13.63% of the current year population in your selected area. Compare this to the US average of 18.01%.

Households Housing There are currently 7,401 households in your selected geography. The The median housing value in your area was $69,602 in 2018, compare number of households has changed by -10.28% since 2000. It is this to the US average of $201,842. In 2000, there were 6,380 owner estimated that the number of households in your area will be 7,338 occupied housing units in your area and there were 1,869 renter five years from now, which represents a change of -0.85% from the occupied housing units in your area. The median rent at the time was current year. The average household size in your area is 1.73 $846. persons.

Income Employment In 2018, the median household income for your selected geography is In 2018, there are 7,698 employees in your selected area, this is also $35,914, compare this to the US average which is currently $58,754. known as the daytime population. The 2000 Census revealed that The median household income for your area has changed by 23.36% 73.41% of employees are employed in white-collar occupations in this since 2000. It is estimated that the median household income in your geography, and 27.86% are employed in blue-collar occupations. In area will be $41,541 five years from now, which represents a change 2018, unemployment in this area is 4.25%. In 2000, the average time of 15.67% from the current year. traveled to work was 25.00 minutes.

The current year per capita income in your area is $35,228, compare this to the US average, which is $32,356. The current year average household income in your area is $59,004, compare this to the US average which is $84,609.

58 SHOPPES OF HILLSBORO

8 DEMOGRAPHICS