KENDALL CORNERS Miami, Florida Holliday Fenoglio Fowler, L.P. (“HFF”), as exclusive broker, is pleased to offer the exceptional opportunity to acquire Kendall Corners, a 97,189 square foot dominant retail center located in the densely- populated Kendall market of Miami, Florida. SW 40TH STREET MIAMI “Kendall is Miami-Dade’s largest and most dynamic retail submarket INTERNATIONAL AIRPORT with over 19 million square feet and an impressive 97.6% occupancy” 9.5 Miles 56TH STREET KENDALL VILLAGE CENTER KENDALL CORNERS THE PALMS AT TOWN & COUNTRY KENDALL VILLAGE SUNSET DRIVE WEST KENDALE LAKES PLAZA F U R N I T U R E KENDALL MARKET PLACE DON SHULA EXPRESSWAY N KENDALL DRIVE FLANIGANS KENDALL MALL CALUSA CENTER KENDALLGATE SHOPPING CENTER HIGHGATE SQUARE KENDALL 147 PLAZA THE SHOPS OF KENDALL 87TH AVENUE 3.3 Miles 3.7 Miles 104TH STREET KILLIAN DRIVE SW 137TH AVENUE MIAMI DADE COLLEGE - KENDALL SW 157TH AVENUE SW 147TH AVENUE SW 127TH AVENUE 117TH AVENUE Baptist Hospital is currently undergoing a $400 million, 395,000 square foot expansion. 7 LONDON SQUARE 107TH AVENUE 3 MILE RADIUS MIAMI EXECUTIVE AIRPORT Key Current Tenant Vacant Expires in 2017 or 2018, no options Owned Property Boundary MEB Dental Vesuvia Pizza S 2,000 SF S W Lice Troopers Puerto Dollar Plus Madero Grande W Neighbors Insurance El Rancho 1,380 SF 1,630 SF Pepe Le Pooche 1 El Tambo Grill American Nails & Spa Play Area 1 Shoe Repair 2 3 Dance 7 Marlin’s Bakery of Kendall Storage 2 T N H D Daycare A Dance Pools Unlimited A Leslie’s V Victoria’s Playhouse 2,000 SF V Hair Trendz E Fine Line Barber Shop Oroven Jewelry ALX Couture E My Happy Feet ( 1 ( 8 8 , , 4 6 0 0 0 0 V V P P D D ) ) Donald’s Mc N Kendall Drive (71,500 VPD) Tenant Suite SF Tenant Suite SF Tenant Suite SF Tenant Suite SF IHOP 12755 4,362 Victoria's Playhouse DayCare 12781 4,544 Puerto Madero 12879 2,364 Pepe Le Pooche 13041 2,000 Fine Line Barber Shop 12759 1,600 T-Mobile 12801 1,994 El Rancho Grande 12881 1,783 Dollar Plus 13045 2,000 ALX Couture 12765 1,625 My Happy Feet 12821 1,709 BankUnited 12905 2,750 American Nails & Spa 13051 2,000 Vacant 12767 12767 2,000 Mattress Firm 12833 3,625 Ashley Furniture 12955 21,850 Johnny's Shoe Repair 13061 600 Oroven Jeweler 12769 1,060 Phenix Salon 12851-53 5,270 Baptist Health 13001 10,607 Carvel 13071 931 Hair Trendz 12771 1,260 Vacant 12855 12855 1,630 Vacant 13011 13011 2,000 Vesuvio Pizza & Panini 13081 630 Dance Unlimited 12775 4,802 Marlin's Bakery 12857 1,380 Scottrade 13021 1,650 MEB Dental 13091 992 Dance Unlimited Storage 12777 717 Vacant 12859 12859 1,380 Head Lice Troopers 13027 1,000 Leslie's Swimming Pool 12779 2,670 El Tambo Grill 12861 1,404 Neighbors Insurance Agency 13031 1,000 INVESTMENT HIGHLIGHTS KENDALL CORNERS EXCEPTIONAL MIAMI LOCATION – KENDALL SUBMARKET Miami is a world-renowned global destination and the primary institutional gateway market in the southeastern U.S. Miami is also the largest MSA in Florida with over 6.0 million residents which has increased by nearly 20% since 2000. UNPARALLELED INFILL DEMOGRAPHICS There is extraordinary five-mile population density of over 463,500 residents / 148,500 households with average household income levels of nearly $77,000. The population density is a staggering five times greater than the Miami-Dade County average and is expected to grow by nearly 6% over the next 5 years. MAJOR AREA DEMAND DRIVERS Major area demand drivers include the Kendall Campus of Miami-Dade College (66,500 students), Baptist Hospital (728 beds; 100,000 patients annually), and West Kendall Baptist PROPERTY OVERVIEW Hospital (133 beds, 40,000 patient capacity). Further, Baptist Hospital is currently undergoing a $400 million, 395,000 square foot expansion. Address: 12755 N Kendall Drive, Miami, Florida 33183 Size: 97,189 SF on 8.3 Acres KEY INTERSECTION / HIGH BARRIER TO ENTRY AREA Year Built: 1974 / 2001 Located less than 1 mile from the Florida Turnpike on the going-home side of Kendall Drive, there are combined surrounding traffic counts of 98,500 cars per day at two 17-lane and 12- Occupancy: 92.8% lane signalized intersections that border the Property. Additionally this is an ultimate high barrier Parking: 377 spaces (3.9 spaces per 1,000 SF) to entry market due to existing density and the adjacent undevelopable publicly-owned land. N Kendall Drive = 71,500 CPD STRONG, STABLE, AND SEASONED TENANT BASE Traffic Counts: SW 127th Avenue = 18,400 CPD Ashley Furniture and Baptist Health have operated at the center since 2002 and both tenants SW 132nd Avenue = 8,600 CPD recently renewed. An impressive 19 of 29 tenants have renewed at least once and the average tenant duration is 10.5 years. Year 1 NOI: $2,649,000 Offering Price: Unpriced SIGNIFICANT UPSIDE OPPORTUNITIES Ashley Furniture (21,850 SF) is below market and expires in January 2022 with no remaining Debt: Offered Free & Clear renewal options, creating a unique opportunity to re-tenant the anchor with a boutique grocer DEMOGRAPHICS OVERVIEW or other premier national tenant. Further, 14 tenants representing almost 50% of the GLA including the BankUnited outparcel have no remaining renewal options and in many cases are Population 1-Mile 3-Mile 5-Mile 15-Min Drive MSA below market, presenting extraordinary upside potential. 2021 Projection 20,438 219,923 491,122 1,278,456 6,411,265 2016 Estimate 19,288 209,548 463,669 1,201,717 6,032,325 Growth 2016-2021 6.0% 5.0% 5.9% 6.4% 6.3% INVESTMENT ADVISORS Household Income 1-Mile 3-Mile 5-Mile 15-Min Drive MSA BRAD PETERSON WHITAKER LEONHARDT ERIC WILLIAMS MICHAEL BREWSTER TYLER SWIDLER Average $79,047 $70,466 $76,768 $76,067 $72,350 Senior Managing Director Associate Director Associate Director Analyst Analyst [email protected] [email protected] [email protected] [email protected] [email protected] Holliday Fenoglio Fowler, L.P. (“HFF”) a Florida licensed real estate broker. t: 407.745.3916 t: 305.448.1333 t: 407.745.3910 t: 407.745.3911 t: 407.745.3919 ©2016 HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital DEBT PLACEMENT markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information ORLANDO please visit hfflp.com or follow HFF on Twitter @HFF. SCOTT WADLER 300 S Orange Ave Suite 1250 HFF has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources Associate Director other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references hfflp.com Orlando, FL 32801 [email protected] to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are T 407.745.3900 projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct t: 305.421.6542 their own independent investigation and rely on those results. The information contained herein is subject to change..