OFFERING MEMORANDUM 19,536 SF Deerfield Beach Owner/User Opportunity 3401 Deer Creek Country Club Blvd. | Deerfield Beach, FL 33442

ACTUAL PROPERTY PHOTO 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 Tiktin Real Estate Investment Services ("TREIS") and should not be made available to any other person or entity without the written consent of TREIS. This Pricing Analysis has been prepared to provide summary, unverified information to the current ownership, 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. TREIS 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 Pricing Analysis has been obtained from sources we believe to be reliable; however, TREIS has not verified, and will not verify, any of the information contained herein, nor has TREIS 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. NON-ENDORSEMENT NOTICE: Tiktin Real Estate Investment Services, Inc. (“TREIS”) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this Pricing Analysis. 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 TREIS, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of TREIS, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

2 TABLE OF CONTENTS 19,536 SF Deerfield Beach Owner/User | Deerfield Beach, FL

FINANCIAL ANALYSIS Pricing Analysis ...... 5 EXECUTIVE SUMMARY Investment Overview 7 PROPERTY DESCRIPTION Property Details 8 Property Photos 9 Aerial Photo ...... 10 Property Survey With Easements ...... 11 Local Retailer Map ...... 12 Local Map ...... 13 Regional Map ...... 14 MARKET OVERVIEW Market Overview ...... 16 - 19 COMPETITIVE PROPERTY SET Rent Comparables Map 22 Rent Comparables 23 - 25 Sale Comparables Map 27 Sale Comparables ...... 28 - 30 DEMOGRAPHIC Demographic Summary ...... 32 - 33

3 FINANCIAL ANALYSIS PRICING ANALYSIS 19,536 SF Deerfield Beach Owner/User | Deerfield Beach, FL

Offering Summary Purchase Price: $4,500,000 Down Payment: 100%/$4,500,000 Gross Leaseable Area (GLA): 19,536 SF Price/Rentable SF: $230.34 Lot Size (SF): 167,603 SF Price/SF Land: $26.84 Lot Size (Acres): 3.85 Acres Price/Acre: $1,169,549 Type of Ownership: Fee Simple

Site Description 3401 Deer Creek Country Club Blvd., Deerfield Beach, FL 33442 Assessor's Parcel Number: 48-42-03-07-0010 Zoning: B-1

5 EXECUTIVE SUMMARY HIGHLIGHTS 19,536 SF Deerfield Beach Owner/User | Deerfield Beach, FL

WHY BUY THE 19,536 SF DEERFIELD BEACH OWNER/USER OPPORTUNITY: Tiktin Real Estate Investment Services is pleased to present the • Shadow Anchored By Super Target, Petco, and a Hobby Lobby 19,536 SF Deerfield Beach Owner/User opportunity located in • Zoned B-1 - Business, Community Deerfield Beach, . The property consists of 3.85 acres of land • Allowable Uses Include a Variety of Retail, Office, Medical, Health & with a 19,536 square foot building, which was built in 1987. The Fitness, Pharmacy, School/Tutoring, Child & Adult Day-Care, Res- property is an outparcel to a Super Target anchored center along taurant/Bar/Nightclub, Among Others Hillsboro Boulevard. Currently, the property is vacant. • Neighboring Outparcels Include a PDQ, TD Bank, Starbucks, and Bank of America The subject property is zoned B-1 (business, community), which • Exposure to Over 43,000 Vehicles Per Day allows for a variety of uses including retail, office, medical, health • Average Household Income Is In Excess of $85,000 Within A 5-Mile & fitness, pharmacy, school/tutoring, child & adult day-care, Radius restaurant/bar/nightclub, among others. • Over 330,000 Residents Within A 5-Mile Radius Deerfield Beach is located just south of the Palm Beach County • Additional Nearby National Tenants Include Ross Dress For Less, First line and has seen a major economic expansion in the past few Watch, Chick-fil-A, Five Below, Panera Bread, and T.J. Maxx, Amongst Others. years, capitalizing on the economic prosperity and ever-increasing migration of individuals to the South Florida region. The once quiet beachfront city has seen a rapid expansion with over 11,000 building permits that total nearly a billion dollars in new construction, new residential developments under construction from top developers, and ongoing construction of a new 12,000 square-foot community center to revitalize the old Tigner Community Center. The area surrounding the subject property has strong demographics. There are over 330,000 people living within a 5-mile radius from the property with an average household income exceeding $85,000 per year. Neighboring tenants in this center and the surrounding centers include Hobby Lobby, Petco, TD Bank, Bank of America, PDQ, Starbucks, Publix, Ross Dress For Less, Marshalls, Walgreens, CVS, Wells Fargo, and Aldi, amongst others.

7 PROPERTY DETAILS 19,536 SF Deerfield Beach Owner/User | Deerfield Beach, FL

GROSS BUILDING AREA 19,536 SF LOT SIZE 167,603 SF (3.85 ACRES) OWNERSHIP FEE SIMPLE YEAR BUILT 1987 NUMBER OF STORIES 1 Story PARKING 102 Spaces PARKING RATIO 5.22/1,000 SF FOLIO 48-42-03-07-0010 FOUNDATION Concrete FRAMING Concrete EXTERIOR Concrete PARKING SURFACE Asphalt ROOF Flat HVAC Central Air FIRE PROTECTION Fully Sprinkled & Monitored ZONING B-1 ACCESS POINTS Deercreek Country Club Blvd.,

Hillsboro Blvd. and Powerline Rd. 8 PROPERTY PHOTOS PROPERTY PHOTOS OF ADJACENT POWER CENTER

9 PROPERTY DESCRIPTION

AERIAL PHOTO

Note: The Single-Tenant Medical Building (With no rights to parking on Subject Property) Highlighted inside in yellow is not included in the opportunity. 10 PROPERTY DESCRIPTION

PROPERTY SURVEY WITH EASEMENTS

11 PROPERTY DESCRIPTION

LOCAL RETAILER MAP

12 PROPERTY DESCRIPTION

LOCAL MAP

SUBJECT PROPERTY

13 PROPERTY DESCRIPTION

REGIONAL MAP

SUBJECT PROPERTY

14 MARKET OVERVIEW MARKET OVERVIEW Deerfield Beach | Overview

Deerfield Beach is a city in Broward County, Florida that is just south of the Palm Beach County line. The city has a population of 81,915 people making it the 32nd largest city in Florida. The city spans over an area of 16.3 square miles, of which 15.1 square miles is land and 1.2 square miles is water. Deerfield Beach was originally settled in 1890, when a small settlement named Hillsborough was developed along the Hillsboro River. As the population grew to about 20 by 1898, the settlement and town was named Deerfield for the deer that grazed along the river. By the early 20th century, the town's population continued to grow and the Florida East Coast Railroad constructed tracks en route to Miami bisecting Deerfield. The city remained a largely agricultural community, but in 1939 the town's name changed to Deerfield Beach as tourists began to swarm the beach. By 1952, the original Deerfield Beach pier was constructed from wood, which was reconstructed in 1963 to the 976-foot pier that remains to this day. Deerfield Beach is know for its exceptional water quality with their award winning "Blue Wave" beach earned from the Clean Beach Council, which is based on Deerfield Beach's excellent water quality, beach conditions, safety services, public information and habitat conservation policies. The city is also home to attractive shopping and dining opportunities, the Quiet Waters Park, which features campgrounds, fishing, a skate park, wakeboarding, surfing, water skiing, and the longest "cable sky" courses in the nation. There are five public schools administered by Broward County Public Schools as well as numerous private institutions within the city of Deerfield Beach. Surrounding schools within Coconut Creek and Pompano Beach service residents within Deerfield Beach as per certain zoning districts. Additionally, there are two library locations of the Broward County Library system. Transportation includes the Deerfield Beach station served by the and Tri-Rail as part of the authority. The economy within Deerfield Beach has seen major growth within the last two years, capitalizing on the economic prosperity and ever-increasing migration of individuals to the South Florida region. There have been over 11,000 building permits that total nearly a billion dollars in new construction, new residential developments under construction from top developers, and ongoing construction of a new 12,000 square-foot community center to revitalize the old Tigner Community Center. The city of Deerfield Beach continues to advance programs and infrastructure to continue the focus on sustaining the economic growth for companies and a strong workforce in the foreseeable future. 16 MARKET OVERVIEW Broward County | Overview

MARKET HIGHLIGHTS Strong Population Growth z Broward County’s population continues to grow, with in- migration accounting for a large share of new residents. Excellent Corporate location z Access to Latin American markets Housing z Home prices are more affordable in Broward County than in other coastal counties Tourism z Destination for both national and international tourists, with annual vistors increasing per year

GEOGRAPHY

Broward County has little room for expansion. The metro is bordered to the north and south by the Palm Beach and a Miami-Dade counties, respectively, and the Atlantic Ocean to the east. The Everglades to the west are protected and un- available for development. The 23 miles of shoreline and 300 miles of inland waterways in the county provide the means for recreation and transport.

17 MARKET OVERVIEW Broward County | Overview

LABOR Broward County employment growth will out-pace the national average over the next five years as the local economy gains traction. Almost all employment sectors will expand during this time, with the most significant growth anticipated in education and health services. Currently, trade, transportation and utilities are the largest employment sectors in Broward County, followed by the professional and business services segments. The growing number of corporations placing headquarters in the metro area has generated an influx of higher paying business services employment. Though such jobs tend to be mobile in the Internet age, Broward County is positioned for expansion in this sector, with plenty of Class A office space available to meet tenants’ requirements. Additionally, the area’s above - average pay for corporate workers and the county’s current housing prices well below their pre-recession peak are factors likely to attract more corporate relocations.

After slowing during the recession, leisure and hospitality activity has begun to pick up. This sector will add employees at an annual rate of 3.0 percent over the next five years, aided by an increase in cruise ships using Port Everglades and rising hotel occupancy. The education and health services sector also expanded in recent years. As the population in the metro areas continue to grow, residents will drive the need for more workers in healthcare. At the same time, educators will likely be needed to a greater degree due to continuing migration to the county. DEMOGRAPHICS The county had tremendous population growth since 1990, increasing more than 45 percent to over 1.8 million residents. With little land left for development and aging citizenry, annual population growth will taper off to 0.8 percent over the next five years. Broward County will continue to become wealthier, as the median household income, currently around $52,000 annually, will rise by about 19 percent over the next five years. Part of this up-tick is due to an expansion in higher paying professional jobs that will exceed the addition of lower-paying service jobs catering to the tourism industry. An increase in education attainment has helped boost income levels. In Broward County, nearly 30 percent of residents age 25 and older have a bachelor’s degree, slightly above the U.S. level of 28 percent. This is partially attributable to the high percentage of educated residents from outside of the United States who are attracted to job opportunities in the region.

18 MARKET OVERVIEW Broward County | Overview

Broward County contains 31 municipalities and spans 1,197 square miles, with two - thirds of the area covered by the Everglades. Fort Lauderdale is the largest city in the county with 175,800 residents followed by Pembroke Pines. Limited land is available for development, pushing any significant growth upward rather than outward. Infrastructure Broward County is accessible to motorists, with major north-south thoroughfares including Interstate 75 and Florida’s Turnpike. Interstate 595 and the Sawgrass Expressway serve as the primary east-west corridors. Fort Lauderdale/Hollywood International Airport provides nonstop services to cities in the United States, Canada and the Caribbean. The airport is located less than 4 miles from Port Everglades, one of the busiest cruise ports in the world. In addition, the port is an active cargo and container facility. Economy Broward County has a diverse economy not dominated by a single industry. Key drivers of the local economy include tourism, healthcare, biotechnology and international Largest Cities in Metro By Population commerce. Tourism is a major component of the Broward County economy, and both air traffic and hotel occupancy have rebounded from the recession. As major Fort Lauderdale 1 8 2 ,5 9 5 point of access to both international commerce and cruise tourism, Port Everglades Pembroke Pines 1 7 2 ,3 7 4 generates roughly $26 billion of economic activity per year. More than 3.6 million cruise passengers use the port each year, and currently, some of the largest cruise- H o lly w o o d 1 5 4 ,8 2 3 liners in the world dock at Port Everglades. Healthcare is another major part of the M ira m a r 1 4 0 ,8 2 3 county’s economy. The metro has a significant population of elderly residents and will likely be disproportionately affected by the aging baby boomer generation. Coral Springs 1 3 3 ,5 0 7 Biotechnology research has emerged as a growth industry in the area, and efforts are underway to attract these companies to the county. Numerous corporations have Pompano Beach 1 1 1 ,9 5 4 made Broward County their headquarters or regional operations center. The mild Sources: US Census Bureau climate, reasonable cost of living, and proximity to Miami and Latin America attract diverse companies, including Citrix Systems, AutoNation and Heico.

19 COMPETITIVE PROPERTY SET RENT COMPARABLES COMPETITIVE PROPERTY SET RENT COMPARABLES MAP

SUBJECT PROPERTY

1

2

Rent Comparables

Subject Property 3 1 West Marine

2 Salons By JC 4 3 Pet Supermarket

4 Boca Recovery Center

22 COMPETITIVE PROPERTY SET RENT COMPARABLES AVERAGES

Occupancy

100.00% Average 100%

90.00%

80.00%

70.00%

60.00%

50.00%

40.00%

30.00%

20.00%

10.00%

0.00% West Marine Salons By JC Pet Supermarket Boca Recovery Center

Rent/SF

$30.00

$25.00 Average $23.25

$20.00

$15.00

$10.00

$5.00

$- West Marine Salons By JC Pet Supermarket Boca Recovery Center 23 COMPETITIVE PROPERTY SET RENT COMPARABLES

Subject Property 3401 Deer Creek Country Club Boulevard, Deerfield Beach, FL 33442 Date Surveyed: 6/9/2020 Occupancy: 0% Rent/SF: N/A Gross Leasable Area (GLA): 19,536 SF Year Built: 1987 Lease Type: N/A

COMMENTS: The subject property currently consists of a 19,536 SF one-story building.

1 West Marine 100 - 154 N Federal Highway, Deerfield Beach, FL 33441

Date Surveyed: 6/9/2020 Occupancy: 100% Rent/SF: $18.00 Gross Leasable Area (GLA): 29,880 SF Year Built: 1989 Lease Type: NNN

COMMENTS: West Marine recently signed a lease renewal for 10,212 SF at a rate of $18.00/SF NNN in this multi-tenant center.

2 Salons By JC 4746 - 4752 N Federal Highway, Lighthouse Point, FL 33064

Date Surveyed: 6/9/2020 Occupancy: 100% Rent/SF: $26.00 Gross Leasable Area (GLA): 19,616 SF Year Built: 1998 Lease Type: NNN COMMENTS: Salons By JC recently leased a 8,089 SF space in this multi-tenant center at a rate of $26.00/SF NNN.

24 COMPETITIVE PROPERTY SET RENT COMPARABLES

3 Pet Supermarket 401 N Federal Highway, Pompano Beach, FL 33062

Date Surveyed: 6/9/2020 Occupancy: 100% Rent/SF: $20.00 Gross Leasable Area (GLA): 32,062 SF Year Built: 1970 Lease Type: NNN COMMENTS: Pet Supermarket recently leased a 10,000 SF space in this multi-tenant center at a rate of $20.00/SF NNN.

4 Boca Recovery Center 971 S Dixie Highway, Pompano Beach, FL 33060

Date Surveyed: 6/9/2020 Occupancy: 100% Rent/SF: $29.00 Gross Leasable Area (GLA): 14,417 SF Year Built: 1976 Lease Type: NNN

COMMENTS: This medical tenant, Boca Recovery Center, leased this entire 14,417 SF retail building at a rate of $29.00/SF NNN.

25 SALES COMPARABLES COMPETITIVE PROPERTY SET SALES COMPARABLES MAP

3

4

SUBJECT PROPERTY

1 Recent Sales

Subject Property

1 Wells Fargo Building 2 2 GFS Building

3 KIA Dealership

4 Office Depot

27 COMPETITIVE PROPERTY SET SALES COMPARABLES AVERAGES

Price/SF Building

$350.00

$300.00

$250.00 Average $245.65

$200.00

$150.00

$100.00

$50.00

$- Subject Property Wells Fargo Building GFS Building KIA Dealership Office Depot

Price/SF Land

$60.00

$50.00 Average $44.20 $40.00

$30.00

$20.00

$10.00

$- Subject Property Wells Fargo Building GFS Building KIA Dealership Office Depot

28 COMPETITIVE PROPERTY SET SALES COMPARABLES

Subject Property 3401 Deer Creek Country Club Boulevard, Deerfield Beach, FL 33442 Sales Price: $4,500,000 Price/SF: $230.34 Gross Leasable Area (GLA): 19,536 SF Lot Size: 167,603 SF (3.85 Acres) Price/SF Land: $26.84 Year Built: 1987

COMMENTS: The subject property currently consists of a 19,536 SF one-story vacant building situated on a 167,603 SF (3.85 Acres) lot.

1 Wells Fargo Building 1950 W Hillsboro Boulevard, Deerfield Beach, FL 33442

Close of Escrow: 9/19/2019 Sales Price: $4,145,000 Gross Leaseable Area (GLA): 22,000 SF Price/SF Building: $188.41 Lot Size: 91,040 SF (2.09 Acres) Price/SF Land: $45.52 Year Built: 1979 COMMENTS: This property was a former Wells Fargo Bank building that was purchased by a buyer as an owner/user opportunity. The buyer plans to redevelop the building and operate the property as an Xpress Urgent Care center.

2 GFS Building 3260 N Federal Highway, Lighthouse Point, FL 33064

Close of Escrow: 6/25/2018 Sales Price: $4,300,000 Gross Leaseable Area (GLA): 15,856 SF Price/SF Building: $271.19 Lot Size: 108,181 SF (2.48 Acres) Price/SF Land: $39.75 Year Built: 2012 COMMENTS: This property was a former 15,856 SF Gordan Food Service Store that the buyer purchased as a vacant owner/user opportunity. 29 COMPETITIVE PROPERTY SET SALES COMPARABLES

3 KIA Dealership 2225-2255 S Federal Highway, Delray Beach, FL 33483

Close of Escrow: 7/25/2019 Sales Price: $7,500,000 Gross Leaseable Area (GLA): 23,914 SF Price/SF Building: $313.62 Lot Size: 134,182 SF (3.08 Acres) Price/SF Land: $55.89 Year Built: 1988 COMMENTS: This was an owner/user sale of a 23,914 SF auto dealership situated on a 134,182 SF (3.08 Acres) lot.

4 Office Depot 4901 N Federal Highway, Boca Raton, FL 33431

Close of Escrow: 12/31/2018 Sales Price: $6,650,000 Gross Leaseable Area (GLA): 29,595 SF Price/SF Building: $224.70 Lot Size: 125,453 SF (2.88 Acres) Price/SF Land: $53.01 Year Built: 1997 COMMENTS: This former 29,595 SF Office Depot location was vacant at the time of sale. The buyer, who owns a wholesale grocery company, purchased this property in an owner/user sale.

30 DEMOGRAPHICS DEMOGRAPHICS 19,536 SF Deerfield Beach Owner/User | Deerfield Beach, FL

POPULATION 1-MILE 3-MILES 5-MILES 2025 Population 17,811 133,230 345,665 2020 Population 16,853 127,918 330,266 2010 Population 14,198 120,464 301,300

HOUSEHOLDS 1-MILE 3-MILES 5-MILES 2025 Households 9,327 57,432 143,317 2020 Households 8,854 55,383 137,533 2010 Households 7,560 53,064 127,999 Growth 2020 - 2025 5.34% 3.70% 4.21% Growth 2010 - 2020 17.12% 4.37% 7.45% Owner Occupied Housing Units 6,725 37,087 94,299 Renter Occupied Housing Units 2,130 18,296 43,234 2020 Avg Household Income $65,161 $73,871 $87,065 2020 Med Household Income $48,644 $53,785 $59,838 SUBJECT PROPERTY INCOME 1-MILE 3-MILES 5-MILES <$25,000 2,387 11,911 25,893 $25,000 - $50,000 2,147 13,874 31,786 $50,000 - $75,000 1,546 10,699 24,335 $75,000 - $100,000 1,217 6,331 16,162 $100,000 - $125,000 640 4,426 11,616 $125,000 - $150,000 296 2,526 6,667 $150,000 - $200,000 318 2,842 9,239 $200,000+ 304 2,776 11,833 Source: CoStar

32 DEMOGRAPHICS 19,536 SF Deerfield Beach Owner/User | Deerfield Beach, FL

HOUSING PRICES 1-MILE 3-MILES 5-MILES DAYTIME EMPLOYEES 1-MILE 3-MILES 5-MILES Median Home Value $212,363 $252,797 $288,307 Retail & Wholesale 2,517 17,753 73,149 Median Year Built 1978 1983 1982 Financial / Insurance / Real Estate 232 8,226 16,698 Average Household Size 1.80 2.20 2.30 Services 2,650 19,710 72,025 <$100,000 2,829 7,872 13,911 Information 111 5,985 8,298 $100,000 - $200,000 375 6,406 16,509 Health Care & Social Assistance 1,605 7,674 29,659 $200,000 - $300,000 1,278 8,079 18,945 Manufacturing 162 3,258 7,557 $300,000 - $400,000 999 7,374 17,806 Construction 191 4,930 13,131 $400,000 - $500,000 397 3,153 10,115 Utilities & Waste Management 148 2,307 7,576 $500,000 - $1,000,000 846 3,812 13,543 Public Administration & Sales 0 514 4,504 $1,000,000+ 0 391 3,471 Agriculture, Mining & Fishing 3 38 158 2020 POPULATION BY RACE 1-MILE 3-MILES 5-MILES CONSUMER SPENDING TOTALS 1-MILE 3-MILES 5-MILES White 14,804 95,764 251,045 Apparel $9,823,257 $73,347,812 $197,698,132 Black 1,321 24,718 59,318 Entertainment & Hobbies $15,628,444 $100,795,765 $267,708,022 American Indian & Alaskan 23 311 955 Food & Alcohol $51,108,622 $347,666,662 $924,177,717 Asian 397 4,144 11,380 Hawaiian & Pacific Island 3 96 295 Household Items & Expenses $29,801,336 $189,028,891 $524,659,302 Other 305 2,884 7,272 Transportation & Maintenance $36,932,296 $278,894,012 $772,992,769 Health Care $13,880,649 $78,158,050 $204,137,880 BUSINESSES BY INDUSTRY 1-MILE 3-MILES 5-MILES Education & Day Care $10,827,757 $77,760,850 $228,531,874 Retail & Wholesale 204 1,395 5,214 Source: CoStar Financial / Insurance / Real Estate 56 435 1,765 Services 312 2,507 9,350 Information 17 149 421 Health Care & Social Assistance 149 968 3,946 Manufacturing 11 205 615 Construction 59 619 1,822 Utilities & Waste Management 36 336 1,075 Public Administration & Sales 0 28 152 33 Agriculture, Mining & Fishing 1 14 51 EXCLUSIVELY LISTED BY: TIKTIN REAL ESTATE INVESTMENT SERVICES TEL: (305) 363-4750 TEL: (844) 4-TIKTIN FAX: (305) 675-0774 WWW.TIKTINREALESTATE.COM