INVESTMENT SUMMARY. Jason Donald. Patrick Berman. Todd Tolbert. Cushman & Wakefield of Florida, LLC. Irreplaceable waterfront location.

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1 INVESTMENT SUMMARY

2 INVESTMENT SUMMARY Irreplaceable waterfront location. Unique mixed-use property: retail, restaurants and office space with a 325-space parking structure. Stable income stream, strong operating history. Densely populated, high-traffic, infill trade area. Top (#1) tourist destination in Pinellas County. Bubba Gump Shrimp Co. has outstanding sales. Recent lease extension. Redevelopment opportunity above parking deck (requires zoning change). Jason Donald Managing Director jason.donald@cushwake.com Patrick Berman Managing Director patrick.berman@cushwake.com Todd Tolbert Associate todd.tolbert@cushwake.com Cushman & Wakefield of Florida, LLC. One Tampa City Center, Suite 3300 Tampa, FL Cushman & Wakefield Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. 2 INVESTMENT SUMMARY

3 THE MARINA AT JOHN S PASS 3

4 Offering Highlights Cushman & Wakefield Retail Investment Advisors are pleased to offer for sale The Marina at John s Pass, a mixed-use property located in Madeira Beach, Pinellas County (Tampa Bay), Florida. Built in phases between 1978 and 2007, the property contains 138,715 SF (including parking structure) and is 81% leased to internet resistant, tourism-related businesses. This offering represents the unique opportunity to acquire a distinct asset with stable cash flow and tremendous upside potential in a built-out trade area. Property Summary ADDRESS 179 Boardwalk Place West, Madeira Beach, FL SITE AREA PARKING 2.43 Acres (includes 24,829 SF: submerged) 351 spaces (8.61/1,000 SF) YEAR BUILT GLA 40,771 SF (Parking Structure: 97,944 SF) MAJOR TENANTS Bubba Gump Shrimp Co., Hooters, Friendly Fisherman OCCUPANCY 81% Investment Highlights Number #1 tourist destination in Pinellas County Upside potential: add residential or hospitality units above parking deck (requires zoning change) Irreplaceable waterfront location Institutionally owned and operated Recent capital improvements include upgrades to the parking garage and replacement of facade, doors and windows. Slip dredging anticipated to be completed in April. Furthermore, entire John s Pass is scheduled to be dredged by Army Corps of Engineers in Q218. Favorable rollover schedule - no leases expire until 2020 Diverse revenue sources: parking garage, boat slips, restaurant, office and retail space Strong restaurant sales generated by Bubba Gump Shrimp Co. and Hooters Parking revenues are approaching $1 million per annum Densely populated, affluent trade area: 36,251 residents, 19,904 employees and average household income of $78,827 within a 3-mile radius 4 INVESTMENT SUMMARY

5 Demographics Springs East Lak Ehrlich Rd Bearss Ave POPULATION 5,397 36, , Park Blvd Gulf Blvd Gulf To Bay Blvd Bay Drive Honeymoon DAYTIME EMPLOYMENT Island Palm 2,131 19,904 52,848 AVERAGE HH INCOME Harbor $90,909 $78,827 $69,344 Curlew Creek Rd TOLL MEDIAN HH INCOME $52,894 $49, Linebaugh Ave $46,351 Belleair Beach Indian Rocks Beach Indian Shores Clearwater Beach Island Edgewater Dr Seminole Blvd Clearwater Treasure 1 MILE Island Belcher Rd 66th St N McMullen Booth Rd Bayside Bridge Ulmerton Rd Gandy Blvd Pinellas Park 49th St N 1st Ave N Courtney Campbell Causeway 19 Roosevelt Blvd 5th Ave N 9th St Tampa Rd 4th St Gunn H wy Sheldon Rd Howard Frankland Bridge Gandy Bridge St. Petersburg Gunn Hwy Veterans Expwy Carrollwood RETAIL SALES $131M $760M $2.7B Waters Ave Caladesi Island Redington Shores 36 min. Madeira Beach Largo Seminole 3 MILES Clearwater Exec. Airport 25 min. Gulfport 1 Mile 3 Miles 5 Miles St. Petersburg International Airport 48 min. 275 Old Tampa Bay I-375 I-175 Race Track R d Tampa Bay West Shore Blvd Dale Mabry Hwy Tampa International Airport 275 Florida Ave Columbus Dr Tampa Kennedy Blvd South Tampa MacDill AFB Selmon Expwy B Hillsbo Dr Martin Luther Davis Islands 5 MILES St. Petersburg Beach Pinellas Bayway THE MARINA AT JOHN S PASS 5 Ruskin

6 Aerial View 6 INVESTMENT SUMMARY

7 Lease Plan SF 162 2,137 SF 2nd Floor AVAILABLE SUITES 129th Avenue W. 158 Beef Jerky Outlet 1,269 SF SF 152 Addicted to the Bean 1,013 SF 2nd Floor NOT INCLUDED Gulf Boulevard Parking Garage Waves Apparel 2,092 SF SF 864 1,448 SF John s Way 185 Bubba Gump Shrimp Co. 9,600 SF 850 Future Filthy Rich 643 SF 860 1,107 SF Surface Parking NOT INCLUDED Boardwalk Place (128th Avenue) 184 Best 186 Gift 996 SF Idea Ever 966 SF Caribongo Gray 884 SF Jewelers 1,186 SF Florida Paw Fisherman Paws 1,611 SF 539 SF 160 Kilwins 2,042 SF 150 Friendly Fisherman 5,000 SF 2nd Floor 192 Hooters 6,000 SF THE MARINA AT JOHN S PASS 7

8 Tenancy Highlights Major Tenants SF % of GLA Lease Exp. Bubba Gump Shrimp Co. 9, % Hooter s 6, % Friendly Fishmerman 5, % Waves Apparel 2, % Kilwins Chocolates 2, % Local Tenants (9) 8, % Available (7) 7, % Total GLA 40, % Parking Structure: 325 spaces - 97,944 SF Highlights Internet insulated tenant mix, focused on restaurants, entertainment and tourism Historically stable revenue, increasing cash flow Upside potential achieved through lease up and by adding residential / hospitality units above the parking structure (requires rezoning) Bubba Gump Shrimp Co. recently renewed their lease through July 2023 and are paying percentage rent Favorable rollover schedule with no lease expirations until 2020 Diverse revenue sources: parking garage, boat slips, restaurant, office and retail space Revenue from the recently upgraded parking structure is approaching $1 million per annum 8 INVESTMENT SUMMARY

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11 THE MARINA AT JOHN S PASS 11

12 Jason Donald Managing Director Patrick Berman Managing Director Todd Tolbert Associate Cushman & Wakefield of Florida, LLC. One Tampa City Center, Suite 3300 Tampa, FL Cushman & Wakefield Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.