Restaurant Or Retail Space for Sale Or Lease

Home , Aria on the Bay, Bayside Marketplace, Brickell Heights, Brickell House, Met 1, Opera Tower

OFFERING MEMORANDUM

1770 N BAYSHORE DR, MIAMI, FLORIDA RESTAURANT OR RETAIL SPACE FOR SALE OR LEASE

SEE LEGAL DISCLAIMERS ON BACK COVER ARTIST’S RENDERING. FINISHED PRODUCT MAY VARY. CONFIDENTIALITY & DISCLAIMER STATEMENT

THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your own limited use to determine whether you wish to express any further interest in the Property. This confidential memorandum contains brief, selected information pertaining to the business and affairs of the Property and has been prepared by Colliers International South Florida, LLC, primarily from information supplied by the Owner. Although this confidential memorandum has been reviewed by representatives of the Owner, it does not propose to be all-inclusive, nor does it contain all the information which a prospective purchaser may require or desire. Neither the Owner, nor any of its officers, directors, employees or agents, nor Colliers International South Florida, LLC, makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents, and no legal liability is assumed or is to be implied by any of the aforementioned with respect thereto. Prospective offers are advised to verify the information independently. The Owner reserves the right to change the price or any information in this Memorandum, or to withdraw the Property from the market at any time, without notice. This confidential memorandum shall not be deemed an indication of the state of affairs of the Property or the Owner, nor shall it constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this memorandum. By your receipt of this confidential memorandum, you agree that the information contained herein is of a confidential nature and you will not disclose this memorandum or any part of the contents to any other person, firm or entity without prior authorization from Colliers International South Florida, LLC.

OFFERING PROCEDURE Offers should be submitted in the form of a non-binding Letter of Intent and must specify the following: • Price • Length of Inspection Period • Length of Closing Period • Amount of earnest money deposit at execution of a Purchase and Sale Contract, and • Amount of additional deposit upon expiration of Inspection Period

CONTACT DETAILS

GERARD YETMING MICHAEL LEWIN MIKA MATTINGLY MARCOS PUENTE Executive Vice President Commercial Associate Executive Vice President Vice President MOB +1 305 342 5059 MOB +1 561 236 5391 MOB +1 786 486 4391 MOB +1 305 851 1947 [email protected] [email protected] [email protected] [email protected]

JESSE OTTLEY LUIS GARINO NICOLAS BARBARA President of Development Division Sales Director Sales Director MOB +1 305 502 6651 MOB +1 305 606 9019 MOB +1 646 460 5718 [email protected] [email protected] [email protected]

Colliers International South Florida, LLC Cervera Real Estate, Inc. 801 Brickell Avenue, Suite 850 1492 S Miami Ave Miami, FL 33131 Miami, FL 33130 +1 305 359 3690 +1 305 374 3434 www.colliers.com www.cervera.com | PAGE 2 EXECUTIVE SUMMARY

Colliers International Urban Core Division is pleased to present the exclusive opportunity to purchase the retail condo component of Aria on the Bay, one of Miami’s hottest development projects. Aria on the Bay sits along Biscayne Bay in the Edgewater neighborhood. Its central proximity to the Miami Beaches, Brickell, Wynwood and the Miami Design District, explains Edgewater’s explosive growth of population and rental rates over the past 5 years. This 9,572 square foot restaurant and retail space will be in the entrance of the elegant, two-floor lobby making it visible and accessible by the public as well as the residents. 06 12 13 15 17 EXECUTIVE SUMMARY MIAMI CONDO MARKET COMPARABLES DEMOGRAPHICS SITE OVERVIEW

| PAGE 4

EXECUTIVE SUMMARY

THE OFFERING Colliers International is pleased to present the opportunity to acquire or lease brand new restaurant and retail space located directly inside Aria on the Bay, a 53-story, 648 unit luxurious condominium that overlooks Margaret Pace Park. This restaurant and retail space is located on the lobby level with direct connectivity to the street, making it easily accessible and visible to the public. The unit is made up of 9,572 square feet with an outdoor terrace area. New retail stores are opening every month in this exciting neighborhood where you can find strong demographics supported by the nearby residents of upscale condominiums and luxury apartment communities. The area also serves international business travelers and high-class tourists, who can choose to stay at nearby premium hotels. This property is at the heart of it all.

INVESTMENT SUMMARY

Address 1770 N Bayshore Dr, Miami, FL 33137

Property Type Restaurant / Retail

Folio # 01-3231-076-0001

Zoning Transect T6-36B-L

Total Square Footage 9,572

| PAGE 6 EXECUTIVE SUMMARY

INVESTMENT HIGHLIGHTS

SUBMARKET EMERGING AS A VIBRANT CULTURAL HUB MULTIFAMILY MARKET DYNAMICS

Demographic growth has been the main driver for the retail demand in Edgewater. Since The retail market in Edgewater has experienced and astonishing evolution over the last 5 2010, Wynwood, Edgewater, and Midtown have experienced a 30% growth in population, years delivering NNN per square foot rent growth of over 150% since 2012 while vacancy most of which have been young, college-educated professionals. Now Edgewater is home to has held steady under 10%. high-rise luxury condominiums, national retailers, and trendy art galleries. Edgewater is a true live-work-play destination.

| PAGE 7 RESTAURANT AND RETAIL MARKET POTENTIAL

Downtown Miami is anticipating 3000+ residential units to be delivered in 2017 and 2018. Development of a corresponding infrastructure of restaurants and retail is lagging behind. Over $734 Million was spent in Downtown Miami on restaurants and catering in 2014 per the most recent data available, and Edgewater has been slow in capturing a fair share of that market. As for retail, according to a report from Integra Realty Resources, Downtown Miami is now producing average retail revenues of over $500 per square foot. With Edgewater’s central location, Aria on the Bay’s luxurious appeal, and the existing demand in Downtown Miami; we see an incredible opportunity for a restaurant or retailer in this space.

| PAGE 8 SITE OVERVIEW

PROPERTY OVERVIEW

> PROPERTY ADDRESS: 1770 North Bay Shore Drive Miami, FL 33137

> TOTAL SQUARE FOOTAGE 9,572

> COMPLETION DATE Third Quarter of 2017

> MAINTENENCE FEE

$35 Per square foot $3,350 per month

> CONDOMINIUM UNITS 648 Units

| PAGE 9 Restaurant Space Size: 9,572 sf Total Price: $11,486,900 Price psf: $1,200

FLOOR PLANS

| PAGE 10

# Name of Condominium # of Units

1 22 Skyview 280 2 Biscayne 21 250 3 Paramount Bay 346 4 Cite on the Bay 100 5 Quantum on the bay 660 6 1800 Biscayne Plaza 502 7 Bay Parc Plaza 468 8 Opera Tower 635 Aria on the Bay 9 Canvas Miami 513 10 Square Station 710 11 Melody Tower 497 12 Aria on the Bay 647

5,000 NEW CONDOMIUNIUM UNITS COMING TO EDGEWATER | PAGE 12 RETAIL-SALE COMPARABLES

# Property Address Property Name Sale Date Space SF Year Built Sale Price Price PSF Current Use 1 1331 Brickell Bay Dr Jade 7/31/14 3,105 2004 $2,350,000 $756 Pane E Vino Restaurant 2 300 S Biscayne Blvd Met 1 11/21/2014 10,252 2008 $6,284,950 $613 NoviKov Bar & Grill 3 850 S Miami Ave Brickell Heights Q4 2014 21,484 2016 $17,500,000 $814 Soul Cycle * 4 850 S Miami Ave Brickell Heights Q4 2014 8,015 2016 $5,400,000 $673 Vacant- Pre-Construction * 5 1100 S Miami Ave Millecento 4/9/15 17,500 2015 $10,500,000 $600 Mixed Uses * 6 465 Brickell Ave Icon 4/20/15 11,071 2008 $7,600,000 $686 Restaurant 7 888 Biscayne Blvd Marina Blue 8/3/16 11,090 2008 $14,900,000 $1,343 CVS/ Restaurant 8 1001 S Miami Ave Flatiron - 24,800 2017 $22,500,000 $907 - *Sold Vacant

| PAGE 13 RETAIL-LEASE COMPARABLES

Unit # Property Adress Property Name Tenant Name Lease Date Lease SF $\SQ FT Use 1 1331 Brickell Bay Dr Jade Pane E Vino Resturant 11/2014 3,105 $45 Restaurant 2 1331 Brickell Bay Dr Jade Unknown 03/2016 1,190 $100 Retail 3 1100 S Miami Ave Millecento Prime Cigar 08/2015 4,708 $90 Retail 4 300 S Biscayne Blvd Met 1 Novikov Restaurant 01/2016 8,500 $56 Restaurant 5 1300 Brickell Bay Dr Brickell House Le Petite Maison 02/2016 5,187 $54 Restaurant 6 1111 SW 1 Ave Axis Brickell Coyo Taco 05/2016 5,100 $65 Restaurant 7 1040 Biscayne Blvd Ten Museum Park Office 08/2016 3,400 $40 Office 8 151 SE 1 St Centro Restaurant 10/2016 1,100 $75 Restaurant

| PAGE 14 DEMOGRAPHICS

Traffic Count Map

250 NE 25th St, Miami, Florida, 33137 Prepared by Colliers International Rings: 1, 2, 3 mile radii Latitude: 25.80089 Longitude: -80.19004

2016 Summary 1 Mile 3 Mile 5 Mile

Population 27,072 236,837 489,568 Households 13,274 104,042 204,045 Families 5,048 49,269 105,975 Average Household Size 1.93 2.21 2.36 Owner Occupied Housing Units 2,522 22,683 58,018 Renter Occupied Housing Units 10,752 81,360 146,027 Median Age 34.4 37.1 38.5 Median Household Income $41,791 $35,053 $34,529 Average Household Income $65,787 $60,944 $59,433

March 07, 2017

| PAGE 15 | PAGE 16 SITE OVERVIEW SITE OVERVIEW

RENAISSANCE CBD

Miami's Neighborhoods urban market is set for expansion DESIGN DISTRICT MIDTOWN WYNWOOD DOWNTOWN PERFORMING MIAMI ARTS DISTRICT The embodiment of urban Previously home to bottling Downtown Miami is the heart Home to the largest arts revitalization, the Design plants and garment factories, of Miami and is undergoing center in Florida, the District District is Miami’s equivalent Wynwood has undergone a one of the most far-reaching was the first of a long line of of New York’s Soho. It is transformation into Miami’s de revitalizations in local history. world-class amenities that has home to the trendsetting and facto art district. Home to Projects like Skyrise Miami, brought Miami to the world upscale, and it’s story isn’t over 70 art galleries, this Miami World Center, Brightline stage. The Arsht Center for complete. Developers eclectic neighborhood has Miami and the PAMM / Frost the Performing Arts, Ziff including The Related Group, rapidly reinvented itself as the Science Museum are all Ballet Opera House, and the Magellan Development Group home to Miami’s burgeoning changing the way the Knight Concert Hall anchor (JP Morgan) and AMLI are all technology and fashion community perceives and the district which hosts over leaving their mark in Midtown, industries. Wynwood is now interacts within the submarket 400 world renown events directly south of the Design home to a who’s who of in a way never before each year. District, each delivering their brands and visionaries conceived. version of contemporary banking on this neighborhood urban living. becoming the new epicenter of cache in South Florida. INTERIOR PHOTOS

| PAGE 18 MIAMI CENTRAL STATION UNDER CONSTRUCTION Currently under construction, the Miami Central Station (MCS) is the Southern Terminal of the All Aboard Florida express rail line connecting Downtown Miami to Fort Lauderdale, West Palm Beach and Central Florida. Not only will the mixed-use development be a defining landmark in Miami’s skyline, but it will transport visitors from the rest of the State to Downtown Miami with service beginning in 2017. All Aboard Florida’s Miami station will serve as its primary, multimodal hub and a true “live-work-play-commute” urban environment. In addition to the train station, Miami Central will also offer a mix of shopping, dining and entertainment options, more than 180,000 square feet of retail space, 280,000 square feet of office space and 800 residential units.

BRICKELL CITY CENTRE UNDER CONSTRUCTION At the heart of Miami is the Brickell City Centre, a $1.05 billion mixed- use development, strategically located in the center of the Brickell financial district. This is the largest project in Downtown Miami and includes 500,000 square feet of retail, 260,000 square feet of office, 780 condos, 352 hotel rooms, in addition to a two-level underground parking garage with 2,600 parking spaces that span seven acres below the property. A second phase is also planned. It incorporates key transportation centers with the Miami Metromover while offering easy access to Interstate 95 and features an environmentally progressive CLIMATE RIBBON™ architectural feature that provides innovative climate control.

MIAMI WORLD CENTER UNDER CONSTRUCTION At nearly 30 acres, Miami Worldcenter achieves the heights of a world-class destination through exceptional retail, hospitality, and residential offerings. Upon completion in late 2018, the first phase of Miami World Center will offer 512 condos and 400,000 square feet of open-air “high street” retail. The second phase of the development consists of 429 apartments, a tower with 897 apartments, 344 hotel rooms, 38,850 square feet of office space, 21,200 square feet of retail and restaurants and 1,100 parking spaces. Miami World Center is within walking distance of over $3 billion in new public and private projects in mass transit, cultural institutions, recreational parks, and entertainment venues. BAYFRONT PARK FEATURING SKYRISE MIAMI Bayfront Park is a 32-acre public park in Downtown Miami on Biscayne Bay, located seven blocks south of Museum Park. The urban park is bordered on the north by Bayside Marketplace and the American Airlines Arena, on the south by Chopin Plaza, on the west by Biscayne Boulevard and on the east by Biscayne Bay. Bayfront Park is host to many large events and venues such as the New Year’s ball drop, Christmas celebrations, concerts, the Bayfront Park Amphitheater, the Tina Hills Pavilion, as well as boat tours around Biscayne Bay. On the north end of Bayfront Park, Developer Jeff Berkowitz is planning SkyRise Miami, an iconic 1,000 foot, hairpin-shaped observation tower that will be located on the water’s edge of Bayside Marketplace. Berkowitz Development Group and Arquitectonica hope for SkyRise Miami to be South Florida’s version of the Eiffel Tower. In addition to having a landmark observation deck, the tower will be home to upscale restaurants and shopping, a pair of adrenaline pumping attractions and an outdoor amphitheater. SkyRise Miami will be within walking distance of American Airlines Arena, Museum Park, Miami Science Museum, Perez Art Museum Miami – in addition to being across the water from PortMiami.

ADRIENNE ARSHT CENTER The Adrienne Arsht Center for the Performing Arts, the second largest performing arts center in the United States, is being joined by two museums. These cultural offerings complement the existing American Airlines Arena to offer residents a wide variety of entertainment options in the center of the city’s Luxury retail, of which the city has been in dire need. An ever increasing list of fine dining venues featuring celebrity chefs and internationally renowned restaurants are putting Miami on the culinary map.

MUSEUM PARK Bicentennial Park is located in Downtown Miami just south of the I-395 expressway and east of Biscayne Boulevard. The park consists of approximately 30+ acres of city-owned space. It includes approximately 2,600 feet of Biscayne Bay frontage with views of Downtown Miami, the Port of Miami, and Watson Island.

The new Museum Park design was presented to the Miami City Commission on March 13, 2008 and was unanimously approved. Construction of the new Perez Art Museum Miami and the Miami Science Museum facilities commenced in December 2010. The new Art Museum was completed in late 2013 and the Science Museum will be complete in May 2017. Museum Park is central to efforts to strengthen Greater Miami’s momentum as an emerging global capital. SITE OVERVIEW

PORT OF MIAMI

Recognized as the “Global Gateway,” PortMiami has leveraged its prime geographical location to become one of the world’s prominent hubs for global commerce and tourism. With favorable access points to Caribbean and Latin American markets, as well as Asia and Europe by way of the Panama Canal, the Port has also established streamlined access for shippers to reach both Florida’s thriving local consumer base as well as the entire U.S. market.

The Port has recently rolled out over one-billion dollars of infrastructure improvements, including the Fast Access Tunnel, which will directly benefit the Downtown market by: • Providing a direct connection from the PortMiami to highways via Watson Island to I-395 • Reducing congestion on downtown streets, increasing safety and access for other users. • Mutually benefitting the Port to remain competitive by reducing cycle times and costs and allowing the downtown business district to benefit from removing truck congestion and therefore allowing additional visitors access to the Downtown Business District.

| PAGE 21 SITE OVERVIEW

| PAGE 22 CONTACT DETAILS

GERARD YETMING JESSE OTTLEY Executive Vice President President of Development Division +1 305 342 5059 MOB +1 305 502 6651 Accelerating success. [email protected] [email protected] Colliers International South Florida, MIKA MATTINGLY LUIS GARINO LLC Executive Vice President Sales Director 801 Brickell Avenue, Suite 850 +1 786 486 4391 MOB +1 305 606 9019 Miami, FL 33131 [email protected] [email protected] +1 305 359 3690

MARCOS PUENTE NICOLAS BARBARA Commercial Real Estate Services Vice President Sales Director MOB +1 646 460 5718 +305 851 1947 www.colliers.com [email protected] [email protected]

MICHAEL LEWIN Cervera Real Estate, Inc. Commercial Associate 1492 S Miami Ave +1 561 236 5391 Miami, FL 33130 [email protected] +1 305 374 3434

www.cervera.com

UBAN C DSN