Regionally Dominant Community Shopping Center Opportunity in One of Miami’s Highest Barrier and Demand Markets DORAL (MIAMI), FL DOLPHIN MALL | 1.4M SF KEY TENANTS: FLORIDA BASS PRO SHOPS COBB CINEBISTRO INTERNATIONAL BLOOMINGDALE’S OUTLET DAVE & BUSTER’S UNIVERSITY MARSHALL’S ROSS DRESS FOR LESS NEIMAN MARCUS LAST CALL HOMEGOODS SAKS OFF FIFTH BURLINGTON (114,980 VPD) TOP GOLF IKEA (COMING SOON) 836 DOLPHIN EXPRESSWAY (121,611 VPD) NW 107TH AVENUE (48,500 VPD) MACY’S H & M KOHL’S FOREVER 21 JCPENNEY COACH SEARS SEPHORA GAP OLD NAVY MIAMI INTERNATIONAL MALL | 1.0M SF Recreated PMS OPPORTUNITY OVERVIEW Holliday Fenoglio Fowler, L.P. (“HFF”), a Florida licensed real estate broker, is pleased to exclusively offer for sale the fee simple interest in Bed Bath & Beyond Plaza in Doral, Miami-Dade County, FL. The offering presents a rare opportunity for an investor to acquire a dominant community shopping center with a nationally prominent and successful tenant roster in a dense Miami location driven by robust daytime, local and tourist traffic. Bed Bath & Beyond Plaza also offers substantial mark-to-market opportunities within the existing tenancy and select space repositioning to greatly improve income and value over time. PROPERTY SUMMARY Address 10640 NW 19th St., Miami, FL 33172 Year Built/Renovated 2004 Site Size (Acres) ±9.9 acres GLA (SF) 97,456 Occupancy 100% Anchor Tenants Tenant GLA (SF) % of GLA Bed Bath and Beyond 28,053 29% Office Depot 16,175 17% Petco 11,033 11% Party City 10,930 11% Pier 1 Imports 10,582 11% Total 76,773 79% Traffic Counts NW 107th Avenue 48,500 vpd INVESTMENT HIGHLIGHTS BULLET PROOF REAL ESTATE LOCATION IN HIGHEST BARRIER & DEMAND MIAMI SUBMARKET EAST PARK AVENUE NATIONALLY SIGNIFICANT TENANT ROSTER 1 2 3 4 5 6 7 ACCOUNTS FOR 96% AND 94% OF THE GLA AND REVENUE, RESPECTIVELY 8 Fully integrated, e-commerce resistant tenant with above High volume restaurants (±$670/SF) average sales DENSE AND HIGH TRAFFIC DORAL LOCATION WITH 9 REGIONAL HIGHWAY ACCESS AND STRADDLED BY TWO MAJOR MALLS TOTALING 2.4M SF Sales 33% above chain average (5.2% OCC) with HUGE upside in base rent (40%) 10 NW 107TH AVE (48,500 AADT) SEASONED TENANT ROSTER WITH 100% OCCUPANCY NW 107TH AVE (48,500 AADT) OVER THE LAST SIX YEARS 11 SUITE TENANT SF SIGNIFICANTLY BELOW-MARKET NATIONAL BOX Potential for 58% growth in rents 1 Starbucks 1,402 by converting to small shops 2 Fuddruckers 6,000 3 Jimmy John’s 1,360 RETAILERS AND OPPORTUNITY TO REPOSITION 4 Young Eye Associates 1,299 60’ BAY DEPTH 5 Icon Nail Spa 1,301 SPACES GENERATES STRONG UPSIDE IN INCOME 13 6 Sally Beauty Supply 1,592 16 7 Sprint PCS 3,622 12 AND VALUE OVER TIME 8 Moe’s Southwest Grill 2,400 9 Party City 10,930 10 Bed Bath & Beyond 28,053 11 Oce Depot1 6,175 12 Doral Dental Partners 1,707 SEVERELY UNDERSERVED MARKET WITH LIMITED 65’ BAY DEPTH 13 Petco 11,033 NW 17TH ST 16 Pier 1 Imports 10,582 RETAIL AVAILABILITY PROVIDES LANDLORDS ULTIMATE LEVERAGE ON RENTS HIGH VOLUME RETAIL AND RESTAURANTS IN PLACE WITH SALES ABOVE CHAIN AVERAGES AND RESTAURANTS REPORTING ±$670 PSF FUNCTIONAL AND FLEXIBLE FORMAT WITH EXCELLENT VISIBILITY AND ACCESS ALONG HIGH TRAFFIC CORRIDOR OFFERED FREE AND CLEAR OF ANY EXISTING FINANCING EXCEPTIONAL DEMOGRAPHICS WITH ±715,000 RESIDENTS AND AVERAGE HOUSEHOLD INCOMES OF ±$70,000 WITHIN 15 MINUTES Infill Miami Destination with Major Highway Access Serving a Growing and Underserved Local Trade Area that Benefits from Adjacency to Two Regional Malls and Robust Daytime Population DEMOG RAPHI CS WI THIN A 3-MI LE RADIUS: 150,681+ $68,235+ $202,680 5 YEAR 2.9 AVG NW 25th Street AVERAGE HOUSEHOLD MEDIAN HOME POPULATION GROWTH HOUSEHOLD SIZE BED BATH & BEYOND PLAZA POPULATION INCOME $ VALUE 7.4% CITY OF DORAL 66M SF OF OFFICE & INDUSTRIAL INVENTORY NW 107th Avenue MIAMI INTERNATIONAL MALL NW 97th Avenue DOLPHIN MALL (114,980 VPD) SHOPS AT BEACON LAKES (48,500 VPD) NW 112th Avenue NW 12th Street Dolphin Expressway (121,611 VPD) 836 4 5 NW 58th Street R oya SE 8th Ave 8th SE lP Ave 4th SE oincia DEMOGRAPHICS n NW 54th Street aB 944 oul ev Trump 826 969 ard Description 3-mile Radius 5-mile Radius 15 Minutes Doral Golf 25 Resort & Spa 953 Miami SpringsCurtiss Parkway Golf and Population Country Club NW 41st Street NW 72nd Avenue 72nd NW 2022 Projection 161,776 357,169 755,968 Federal NW 36th Street Reserve 948 Building NW 36th Street Costa Greens 948 2017 Population 150,681 336,300 713,150 Golf Club 953 U.S. Southern Growth 2016-2021 7.4% 6.2% 6.0% Command NW 107th Avenue 107th NW Household CITY OF DORAL Avenue 87th NW Airport Expressway Airport 2022 Projection 53,971 113,517 255,381 NW 25th Street 2017 Estimate 50,338 106,854 240,628 Growth 2017-2022 7.2% 6.2% 6.1% Dolphin Mall Miami 969 Income International Mall Expressway Palmetto D y 836 olphi esswa NW 12th Street nExpr 2017 Est. Avg HH Income $68,235 $68,375 $69,936 Dolphin Expressway % of HH Incomes > $100,000 19.5% 20.2% 20.8% Fontainebleau 836 973 NW 7th Street Golf Course Values 985 Mall of 2017 Median Housing Value $202,680 $243,272 $248,432 the Americas Flagler Street 968 % of Homes >$300,000 28.6% 34.0% 36.7% Flagler Street 968 Education and Travel Time SW 42nd Avenue 42nd SW SW 49th Avenue 49th SW SW 57th Avenue 57th SW SW 67th Avenue 67th SW SW 8th Street SW 87th Avenue 87th SW 90 41 % of Population with at least a Bachelor’s Degree 31.1% 27.7% 27.5% Avenue 107th SW 90 e 2017 Average Travel Time to Work in Minutes 32.0 32.0 33.0 FIU Main Campus 826 Source: Claritas Avenu 97th SW Investment Sales Capital Markets Miami Office: Danny Finkle Luis Castillo 1450 Brickell Avenue Nat Scarmazzi Senior Managing Director Managing Director Suite 2950 Director Tel 305.421-6544 Tel 305.448.5498 Miami, FL 33131 Tel 305.421.6545 [email protected] [email protected] T 305.448.1333 [email protected] F 305.448.6767 Eric Williams Megan Fitzpatrick Director Analyst Tel 305.448.1333 Tel 305.421-6555 [email protected] [email protected] HFF has been engaged by the owner of the property to market it for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial 6 real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF..