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 2.8 million SF total inventory 34,000 SF under construction 8,300 SF net absorption 1.1% vacancy rate (decreased 30 bps YOY) $35.85 PSF triple net rent 72% 5-year growth DOWNTOWN FORT LAUDERDALE 1 million SF total inventory 66,500 SF under construction 35,000 SF net absorption WPB FTL 4.8 million SF total inventory 500,000 SF under construction (143,000) SF net absorption RETAIL MARKET. Median Disposable Income 24. (decreased 350 bps YOY) $36.00 PSF triple net rent 170% 5-year growth DOWNTOWN MIAMI MIAMI $53,334 4.6% vacancy rate $468 Million Retail Trade $83 Million Restaurants & Bars Trade 16.9% vacancy rate (increased 910 bps YOY) $60.00 PSF triple net rent 118% 5-year growth

FTL DDA: STATE OF THE MARKET 2019 DD Report2 | Page 24