FTL DDA: STATE OF THE MARKET 2019 DD Report2

D O W N T O W N W E S T PA L M B E A C H 4.8 million SF total inventory 0 SF under construction (103,850) SF net absorption 11.7% vacancy rate (increased 110 bps YOY) $30.00 PSF full service rents 52% 5-year growth DOWNTOWN FORT LAUDERDALE 6.8 million SF total inventory 475,000 SF under construction (146,000) SF WPB net absorption FTL (increased 170 bps YOY) $34.00 PSF full service rents 70% 5-year growth DOWNTOWN MIAMI 22 million SF MIAMI total inventory 0 SF under construction 183,500 SF net absorption HOW LONG HAVE OUR DOWNTOWNERS BEEN WORKING HERE? 12.2% vacancy rate 14.1% vacancy rate (increased 30 bps YOY) $40.00 PSF full service rents 17% 5-year growth 23% 31% 27% 19% Less than 3 years 3-10 years 10-20 years More than 20 years 19.

FTL DDA: STATE OF THE MARKET 2019 DD Report2 | Page 19