+/- 38.9 Acres of Industrial Land in the heart of Miami’s rapidly emerging commerce hub

H O M E S T E A D , F L O R I D A

OFFERING MEMORANDUMLand Opportunity in Homestead, Florida

H O M E S T E A D , F L L a n d O p p o r t u n i t y

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Disclaimer: The information and summary of calculations in this report is for our client only, and is based on current information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on assuch. This analysis does not constitute a recommendation to make a specific business decision, to lease a specific space, or agree to specific business terms, nor take into account every particular objective, financial situation, or need ofindividual clients. Clients should consider whether any advice or recommendation in this summary report is suitable for their particular circumstances and, if appropriate, seek additional professional advice, including tax, accounting, andlegal advice. Blanca Commercial Real Estate is not providing and does not provide tax, accounting, or legal advice. The price and value of office space for lease and availability of office space referred to in this analysis fluctuates. Pastrental and vacancy rates is not a guide to future rental and vacancy rates, and the rental rates, terms and conditions assumed in this analysis and report are not guaranteed.

OFFERING OVERVIEW 3

PROPERTY OVERVIEW 4

LOCATION & VISIBILITY 5

MARKET RESEARCH 6

APPENDIX / ZONING USES 8

DISCLOSURE 9

FROM NORTH : FL Turnpike Exit 9 A, then head south on SW 107th Avenue until you

reach 280th Street / Waldin Drive. Turn left at 280th Street / Waldin Drive and proceed for

¼ mile (if you reach SW 112th Avenue you’ve gone too far).

T A B L E O F C O N T E N T S

US1

SW 1

12 A

VEN

UE

SW 280 STREET

SITE

SW 1

07 A

VEN

UESW 288 STREET

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Disclaimer: The information and summary of calculations in this report is for our client only, and is based on current information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on assuch. This analysis does not constitute a recommendation to make a specific business decision, to lease a specific space, or agree to specific business terms, nor take into account every particular objective, financial situation, or need ofindividual clients. Clients should consider whether any advice or recommendation in this summary report is suitable for their particular circumstances and, if appropriate, seek additional professional advice, including tax, accounting, andlegal advice. Blanca Commercial Real Estate is not providing and does not provide tax, accounting, or legal advice. The price and value of office space for lease and availability of office space referred to in this analysis fluctuates. Pastrental and vacancy rates is not a guide to future rental and vacancy rates, and the rental rates, terms and conditions assumed in this analysis and report are not guaranteed.

Blanca Commercial Real Estate, Inc. has been appointed as theexclusive agent for the marketing and sale of +/- 38.9 acres ofindustrial zoned Land located at SW 280th Street & SW 107th Avenue,in Homestead, Miami-Dade County, Florida, 33032 (“Property”).

LOCATION & ZONING +/- 38.9 acres of Industrial Land located at the NE boundary of

Homestead Air Reserve Base, less than 2 miles from FL Turnpike and less than 5 miles from South Dixie Highway.

Situated approximately 25 miles south of Miami International Airport & The Port of Miami, two of the busiest industrial logistics transport facilities in the world.

Great development opportunity with I U- C zoning designation: Broad spectrum of permitted uses includes not only traditional industrial business types such as distribution, warehouse, storage, light manufacturing but also other commercial uses such as office, hotel/ motel, commuter college.

Limited amount of Industrial zoned land acreage in Homestead. The vast majority of land is zoned as Agricultural, followed by Residential or Community Urban Center.

OTHER BENEFITS More than 10 airports/ heliports, 40 retail centers, and 8 hospitals

are located within 15 mile radius.

Driving route north to downtown Miami and airport/ port vicinity is noted for easy access with less traffic congestion than the I-95 corridor or the Doral based Palmetto & Dolphin Expressways.

Recent announcements by major industrial tenants committed to Homestead leases will draw attention to the sub-market as a desirable destination: FedEx, Frito Lay, PepsiCo.

INDUSTRIAL SUBMARKET Q 1- 2016 (SOUTH DADE)

Tremendous Growth Over 1 Year Period 3.4 % sub-market vacancy rate reflects favorably vs. the vacancy

rate for all of Miami Dade County.

The $ 9.60 PSF average gross asking rents reflect as an increase in the rate recorded one year ago in Q 2 – 2015. But this is still a substantial savings vs. asking rents in Doral & Kendall.

The Homestead industrial sector remains ready to absorb new supply.

O F F E R I N G O V E R V I E W

Cary Cohen, Executive Vice President305.377.6590 | Cary.Cohen@blancacre.com

property inquiries and tours Inquiries and tour request should be directed to the following:

E X E C U T I V E S U M M A R Y

H O M E S T E A D , F L L a n d O p p o r t u n i t y

www.blancacre.com

Privileged and ConfidentialPage 4

Disclaimer: The information and summary of calculations in this report is for our client only, and is based on current information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on assuch. This analysis does not constitute a recommendation to make a specific business decision, to lease a specific space, or agree to specific business terms, nor take into account every particular objective, financial situation, or need ofindividual clients. Clients should consider whether any advice or recommendation in this summary report is suitable for their particular circumstances and, if appropriate, seek additional professional advice, including tax, accounting, andlegal advice. Blanca Commercial Real Estate is not providing and does not provide tax, accounting, or legal advice. The price and value of office space for lease and availability of office space referred to in this analysis fluctuates. Pastrental and vacancy rates is not a guide to future rental and vacancy rates, and the rental rates, terms and conditions assumed in this analysis and report are not guaranteed.

P R O P E R T Y O V E R V I E W

P R O P E R T Y D E T A I L S

SALE PRICE: $ 4,000,000 ( $ 2.36 per Land SF )

PROPERTY TYPE: Vacant Land

PARCEL ID: 30-7006-000-0010 & 30-7006-000-0011

LOCATION: SW 107th Avenue & SW 280th Street Homestead, FL 33032

LAND AREA: ± 38.9 acres ( ± 1,696,226 SF )

2015 TAXES: $ 6,398

INDUSTRIAL SUB-MARKET: South Dade

ZONING TYPE: I U – C

PERMITTED USES: Warehouse, Storage, Distribution, Light Manufacturing, Hotel/ Motel, Office, Commuter College.

SITE

H O M E S T E A D , F L L a n d O p p o r t u n i t y

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Disclaimer: The information and summary of calculations in this report is for our client only, and is based on current information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on assuch. This analysis does not constitute a recommendation to make a specific business decision, to lease a specific space, or agree to specific business terms, nor take into account every particular objective, financial situation, or need ofindividual clients. Clients should consider whether any advice or recommendation in this summary report is suitable for their particular circumstances and, if appropriate, seek additional professional advice, including tax, accounting, andlegal advice. Blanca Commercial Real Estate is not providing and does not provide tax, accounting, or legal advice. The price and value of office space for lease and availability of office space referred to in this analysis fluctuates. Pastrental and vacancy rates is not a guide to future rental and vacancy rates, and the rental rates, terms and conditions assumed in this analysis and report are not guaranteed.

SITE

L O C A T I O N A N D V I S I B I L I T Y

US1

SW 1

07 A

VEN

UE

SW 1

12 A

VEN

UE

SW 288 STREET

SW 268 STREET

11 MINUTES

4 MINUTES

SW 1

37 A

VEN

UE

HOMESTEAD AIRFORCE BASE

H O M E S T E A D , F L L a n d O p p o r t u n i t y

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Privileged and ConfidentialPage 6

Disclaimer: The information and summary of calculations in this report is for our client only, and is based on current information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on assuch. This analysis does not constitute a recommendation to make a specific business decision, to lease a specific space, or agree to specific business terms, nor take into account every particular objective, financial situation, or need ofindividual clients. Clients should consider whether any advice or recommendation in this summary report is suitable for their particular circumstances and, if appropriate, seek additional professional advice, including tax, accounting, andlegal advice. Blanca Commercial Real Estate is not providing and does not provide tax, accounting, or legal advice. The price and value of office space for lease and availability of office space referred to in this analysis fluctuates. Pastrental and vacancy rates is not a guide to future rental and vacancy rates, and the rental rates, terms and conditions assumed in this analysis and report are not guaranteed.

POINT OF INTEREST MILES DRIVE TIME

Florida Turnpike 2.1 Miles 4 Minutes

US1 5.9 Miles 11 Minutes

Miami International Airport(Via Florida Turnpike) 27.3 Miles 25 Minutes

Port of Miami 33 Miles 33 Minutes

Brickell Financial District (Via Florida Turnpike) 32.2 Miles 35 Minutes

Ft. Lauderdale/HollywoodInternational Airport (Via I-95) 55.9 Miles 49 Minutes

Port Everglades(Via I-95) 54.7 Miles 50 Minutes

SITE

L O C A T I O N A N D V I S I B I L I T Y

12

3

5

1

2

3

4

5

6

74

67

H O M E S T E A D , F L L a n d O p p o r t u n i t y

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Privileged and ConfidentialPage 7

Disclaimer: The information and summary of calculations in this report is for our client only, and is based on current information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on assuch. This analysis does not constitute a recommendation to make a specific business decision, to lease a specific space, or agree to specific business terms, nor take into account every particular objective, financial situation, or need ofindividual clients. Clients should consider whether any advice or recommendation in this summary report is suitable for their particular circumstances and, if appropriate, seek additional professional advice, including tax, accounting, andlegal advice. Blanca Commercial Real Estate is not providing and does not provide tax, accounting, or legal advice. The price and value of office space for lease and availability of office space referred to in this analysis fluctuates. Pastrental and vacancy rates is not a guide to future rental and vacancy rates, and the rental rates, terms and conditions assumed in this analysis and report are not guaranteed.

APPENDIX : ZONING USES

H O M E S T E A D , F L L a n d O p p o r t u n i t y

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Privileged and ConfidentialPage 8

Disclaimer: The information and summary of calculations in this report is for our client only, and is based on current information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on assuch. This analysis does not constitute a recommendation to make a specific business decision, to lease a specific space, or agree to specific business terms, nor take into account every particular objective, financial situation, or need ofindividual clients. Clients should consider whether any advice or recommendation in this summary report is suitable for their particular circumstances and, if appropriate, seek additional professional advice, including tax, accounting, andlegal advice. Blanca Commercial Real Estate is not providing and does not provide tax, accounting, or legal advice. The price and value of office space for lease and availability of office space referred to in this analysis fluctuates. Pastrental and vacancy rates is not a guide to future rental and vacancy rates, and the rental rates, terms and conditions assumed in this analysis and report are not guaranteed.

LIST OF PERMITTED USES: Aircraft hangars and repair shops, aircraft assembling and manufacturing

Armories, arsenals

Auditoriums

Auto painting, top and body work

Boat or yacht repairing or overhauling, or boat building

Cold storage warehouses and precooling plants

Commuter colleges/universities

Distribution facility (wholesale)

Fruit packing and fruit preserving

Hotel and motel

Laboratories, material testing

Movie and television studios with indoor sound stages/studios

Office buildings

Residential uses as on premises watchman's or caretaker's quarters

Storage

Telecommunications hubs

Utility work centers—power and telephone, etc.

Warehouse

A P P E N D I X | Z O N I N G U S E S

H O M E S T E A D , F L L a n d O p p o r t u n i t y

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Privileged and ConfidentialPage 9

Disclaimer: The information and summary of calculations in this report is for our client only, and is based on current information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on assuch. This analysis does not constitute a recommendation to make a specific business decision, to lease a specific space, or agree to specific business terms, nor take into account every particular objective, financial situation, or need ofindividual clients. Clients should consider whether any advice or recommendation in this summary report is suitable for their particular circumstances and, if appropriate, seek additional professional advice, including tax, accounting, andlegal advice. Blanca Commercial Real Estate is not providing and does not provide tax, accounting, or legal advice. The price and value of office space for lease and availability of office space referred to in this analysis fluctuates. Pastrental and vacancy rates is not a guide to future rental and vacancy rates, and the rental rates, terms and conditions assumed in this analysis and report are not guaranteed.

THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your own limited

use in considering whether to pursue negotiations to acquire the Industrial

Land at SW 107th Avenue & SW 280th Street (the “property "or building”)

located in Homestead, FL. This confidential memorandum, which contains

brief, selected information pertaining to the business and affairs of the

Property, has been prepared by Blanca Commercial Real Estate (“BCRE”).

This confidential memorandum does not purport to be all-inclusive or to

contain all the information which a prospective purchaser may desire.

Neither Seller nor Blanca Commercial Real Estate nor any of their officers,

employees or agents make any representation or warranty, expressed or

implied, as to the accuracy or completeness of this confidential

memorandum or any of its contents and no legal liability is assumed or shall

be implied with respect thereto.

By receipt of this confidential memorandum, you agree that the

memorandum and its contents are confidential, that you will hold and treat

it in the strictest of confidence, that you will not, directly or indirectly,

disclose or permit anyone else to disclose this memorandum or its contents

to any other person, firm or entity without prior written authorization of

Seller, and that you will not use or permit to be used this memorandum or its

contents in any fashion or manner detrimental to the interest of the Seller.

Photocopying or other duplication is strictly prohibited.

THE SELLER EXPRESSLY RESERVES THE RIGHT AT ITS SOLE DISCRETION TO

REJECT ANY OR ALL PROPOSALS OR EXPRESSIONS OF INTEREST IN THE

PROPERTY AND TO TERMINATE DISCUSSIONS WITH ANY PARTY AT ANY TIME

WITH OR WITHOUT NOTICE.

If you do not wish to pursue negotiations leading to this acquisition, or if in

the future you discontinue such negotiations, you agree to return this

confidential memorandum to BCRE.

THIS CONFIDENTIAL MEMORANDUM SHALL NOT BE DEEMED A

REPRESENTATION OF THE STATE OF AFFAIRS OF THE PROPERTY OR

CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE

BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OF PREPARATION

OF THIS MEMORANDUM. Blanca Commercial Real Estate (“BROKER”)

MAKES THE DISCLOSURE THAT ITS ROLE IS EXCLUSIVELY REPRESENTING THE

SELLER, NOT THE BUYER. THIS PROPERTY IS BEING SOLD AS AN “AS IS, WHERE

IS” SALE.

D I S C L O S U R E

investment contact:

CARY COHEN1450 BRICKELL AVENUE, Suite 2060MIAMI, FL 33131 | 305.377.6590Cary.Cohen@blancacre.com

BLANCA COMMERCIAL REAL ESTATE1450 BRICKELL AVENUE, Suite 2060MIAMI, FL 33131 | 305.577.8850www.blancacre.comLICENSED REAL ESTATE BROKER

BLANCA COMMERCIAL REAL ESTATEBLANCA COMMERCIAL REAL ESTATE

investment contact: