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 Source: ©2016 Kalibrate Technologies March 07, 2017 ©2016 Esri Page 1 of 1 | 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.