Citibankrepresentative Photo

MIAMI, FLORIDA CitibankRepresentative Photo

Asking Price: $7,989,474 Michael Zimmerman 919.391.9901 Cap Rate: 4.75% [email protected]

ATTRACTIVE INVESTMENT OPPORTUNITY This corporate-guaranteed lease features no landlord responsibilities and multiple options to renew with structured 10 percent rental increases every five years within the base term and each of the four (4) five-year options to extend. This particular Citibank branch has $43 million in deposits. The Property regularly sees traffic counts of 74,500 along Southwest 40th Street/Bird Road alone on a daily basis, and has multiple points of ingress/egress at a prominent signalized intersection within a growing retail corridor.

PROMINENT RETAIL LOCATION The Property sits at the corner of Southwest 40th Street/Bird Road and Southwest 87th Avenue (103,500 ADT combined) across the street from a shopping center that includes tenants such as Sedano’s Supermarket, Office Depot and Smoothie King. The site’s close proximity to the Palmetto Expressway (211,000 ADT) gives visitors and residents easy access to the major shopping centers in the Greater Miami Area like Mall of the Americas and Dolphin Mall.

DENSELY POPULATED MARKET AREA Nearly 465,000 people live within a five- mile radius of the site, making this an ideal Property for future investment. The Miami metropolitan area as a whole has a population of around 5.5 million residents, making it the fourth largest urban area in the country. Economic drivers to the area include the University of Miami, Florida International 464,693 $7.27 B University and the Miami International EST POPULATION AVG HH SPENDING Airport, along with the many notable tourist IN 5-MILE RADIUS IN 5-MILE RADIUS attractions found in Downtown Miami.

$80,214 74,500 AVG HH INCOME ADT ALONG BIRD ROAD/ IN 5-MILE RADIUS SW 40TH STREET

CITIBANK | INVESTMENT HIGHLIGHTS ATLANTICRETAIL.COM | 1 Citibank

Citibank is a subsidiary and the consumer division of the financial services multinational Citigroup, which trades on the New York Stock exchange under the ticker symbol “C.” Citibank provides a multitude of services along with credit cards, personal and commercial loans, mortgages and lines of credit. Citibank’s private-label credit card division—Citi Retail Services—issues store credit cards for companies including Costco, ExxonMobil, The Home Depot and Shell Oil. The Company has approximately 2,649 branches in 19 countries, including 723 branch locations in the United States. Most of the U.S. branches are concentrated in six metropolitan areas, including New York City, Chicago, Los Angeles and Miami.

Citigroup reported revenues of $17.3 billion during the fourth quarter of the 2017 fiscal year and, on an operating basis, reached $15.8 billion in net income, an increase of nearly $1 billion over the year previous. Citigroup has made solid progress towards revenue growth and expanse management, having grown loans across both its Consumer and Institutional franchises.

As of January 2018, Citigroup has officially retained its position as No. 1 in Global Fixed Income Market Share for the third consecutive year, according to Greenwich Associates’ annual benchmark study. Citigroup also ranked No. 1 in Sales Quality, Trading Quality and e-Trading. With a fixed-income market share topping 10 percent, Citigroup has grown its share more than any other sell-side firm over the last decade. The Company’s leading market position is driven by its strength in both Credit and Rates products.

CITIBANK | TENANT PROFILE ATLANTICRETAIL.COM | 2 Lease Summary

ADDRESS 8701 Bird Road Miami, FL 33165

ASKING PRICE $7,989,474 CAP RATE 4.75% TENANT Citibank GUARANTOR Corporate BUILDING ± 3,803 SF LAND SIZE ± 0.98 acres YEAR BUILT 1981/Renovated 2011 COMMENCEMENT June 1, 2011 EXPIRATION May 31, 2026 LEASE TERM 15 Years ANNUAL RENT $379,500 ($99.79/SF) RENT INCREASES 10% Every 5 Years OPTIONS 4 x 5-Year Options With 10% Increases

LEASE TYPE NNN Rent Schedule LANDLORD No Responsibilities

RIGHT OF FIRST REFUSAL YEARS ANNUAL RENT INCREASE In the even that the lessor has received a third party Base Term $379,500 ($99.78/SF) 10% offer to purchase the premises, which offer the lessor wants to accept, then the lessor shall first offer to Base Term $417,450 ($109.77/SF) 10% sell the premises to the lessee on the same terms as set forth in such offer. The lessee shall, following Option 1 $467,544 ($122.94/SF) 10% the receipt of the offer, have the right within 15 days Option 2 $523,649 ($137.69/SF) 10% thereafter to elect to purchase the premises on the terms set forth in the offer. Option 3 $586,487 ($154.22/SF) 10% Option 4 $656,865 ($172.72/SF) 10%

CITIBANK | LEASE SUMMARY ATLANTICRETAIL.COM | 3 BIRD ROAD/SW 40TH STREET: 74,500 ADT

SW 87TH AVENUE: 29,000 ADT

CITIBANK | PROPERTY AERIAL ATLANTICRETAIL.COM | 4 PALMETTO

TROPICAIRE SHOPPING CENTER

EXPRESSWAY: 211,000 ADT

SW 87TH AVENUE: 29,000 ADT

BIRD ROAD/SW 40TH STREET: 74,500 ADT

TROPICAL PARK

CITIBANK | MARKET AERIAL ATLANTICRETAIL.COM | 5 54,000 ADT DOLPHIN MALL 153,000 ADT 153,000 74,500 ADT

KENDALL REGIONAL MEDICAL CENTER 211,000 ADT 211,000 12,600 ADT 28,500 ADT

84,000 ADT

CITIBANK | MARKET AERIAL ATLANTICRETAIL.COM | 6 AREA ATTRACTIONS

1. Florida International University • 3.8 mi. 2. Mall of the Americas • 3.9 mi. 3. Dadeland Mall • 4.4 mi. 4. University of Miami • 4.7 mi. 5. Shops at Merrick Park • 4.8 mi. 6. The Falls Shopping Center • 6.5 mi. 7. Dolphin Mall • 6.6 mi. Located in South Florida, Miami 8. Miami International Airport • 10.0 mi. International Airport (MIA) is the 9. Westland Mall • 10.7 mi. 14 largest gateway between the U.S. 10. Miami Executive Airport • 11.1 mi. and Latin America, and it is one of 11. Marlins Park • 11.1 mi. the largest airline hubs in the 9 12. Downtown Miami, FL • 13.6 mi. country. In 2011, MIA ranked first 13. Port of Miami • 15.6 mi. in the U.S. by percentage of 4. Miami Opa-Locka Executive international flights and second by Airport • 16.5 mi. volume of international passengers. In 2016 alone, nearly 45 million passengers traveled through the airport, making MIA the 23rd busiest 8 airport in the world. 7 2 13 11 5 12 1 4

6 10

CITIBANK | MARKET AERIAL ATLANTICRETAIL.COM | 7

WITHIN MIAMI METROPOLITAN AREA The Miami metropolitan area is the 67th largest metropolitan area in the entire world, and is the eighth largest metropolitan area in the United States. This 6,137 square mile portion of South Florida is home to more than six million residents, and has seen a population growth of more than seven percent since 2010. The city of Miami itself has a population of more than 430,000, making it the second most populous metropolis in the southeastern U.S.

CITIBANK | MARKET OVERVIEW ATLANTICRETAIL.COM | 8

CRUISE CAPITAL OF THE WORLD Downtown Miami houses the largest concentration of international banks in the U.S., as well as many national and international companies. The Civic Center is a major center for hospitals, research institutes, medical centers and biotechnology industries. For more than two decades, the Port of Miami—known as the “Cruise Capital of the World”—has been the No. 1 cruise passenger port in the world. Metropolitan Miami is the premier tourism hub in the American South thanks to the popular tourist destination of Miami Beach.

CITIBANK | MARKET OVERVIEW ATLANTICRETAIL.COM | 9

AFFLUENT METROPOLITAN MARKET Miami is a major leader in finance, commerce, culture, media, entertainment, the arts and international trade. Miami has been classified as an Alpha-World City since 2012 and, according to a 2009 UBS study of 73 major world cities, Miami is ranked as the richest city in the U.S., and is the world’s fifth richest city in terms of purchasing power.

CITIBANK | MARKET OVERVIEW ATLANTICRETAIL.COM | 10 Demographics

DEMOGRAPHICS 1 MILE 3 MILES 5 MILES

Estimated Population 7,266 74,814 152,626 2022 Projected Population 7,578 78,267 163,346 2010 Census Population 6,925 70,952 144,024 2000 Census Population 6,140 60,358 118,329 Projected Annual Growth (2017–2022) 0.8% 0.9% 1.4% Estimated Households 2,609 24,453 49,345

POPULATION 2022 Projected Households 2,709 25,460 52,369 2010 Census Households 2,509 23,399 46,870 2000 Census Households 2,207 20,089 39,460 Projected Annual Growth (2017–2022) 0.8% 0.8% 1.2% Est. HH Income $200,000+ 4.6% 4.9% 6.7% Est. HH Income $150,000-$199,999 4.7% 4.6% 4.8% Est. HH Income $100,000–$149,999 12.1% 12.2% 12.0% Est. HH Income $75,000-$99,999 12.1% 11.3% 10.8% Est. HH Income $50,000–$74,999 15.9% 18.1% 17.4% Est. HH Income $35,000–$49,999 14.1% 13.8% 14.0%

INCOME Est. HH Income $25,000–$34,999 10.9% 10.8% 10.4% Est. HH Income $15,000–$24,999 13.3% 11.9% 11.4% Est. HH Income Under $15,000 12.3% 12.4% 12.6% Est. Average Household Income $70,785 $73,482 $80,214 Est. Median Household Income $49,213 $51,095 $51,614 Est. White 95.2% 93.3% 91.6% Est. Black 1.3% 2.0% 2.8% Est. Asian or Pacific Islander 0.6% 1.2% 1.7%

RACE Est. American Indian 0.2% 0.1% 0.1%

Est. Hispanic 91.2% 87.5% 83.1% Est. Other/Multiple Races 2.7% 3.4% 3.8%

CITIBANK | DEMOGRAPHICS ATLANTICRETAIL.COM | 11 Confidentiality & 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 Atlantic Retail Investment Services and should not be made available to any other person or entity without the written consent of Atlantic Retail Investment Services. 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. Atlantic Retail Investment Services 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, PCBs 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, Atlantic Retail Investment Services has not verified, and will not verify, any of the information contained herein, nor has Atlantic Retail Investment Services 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.

CITIBANK | CONFIDENTIALITY ATLANTICRETAIL.COM | 12 MIAMI, FLORIDA CitibankRepresentative Photo

Asking Price: $7,989,474 Michael Zimmerman 919.391.9901 Cap Rate: 4.75% [email protected]