OFFERING SUMMARY

VILLAGE PLAZADiverse Anchor Line-up

89% of GLA occupied by national/regional tenants

Prime location within Lakeland’s dominant retail node

Secure income stream based on below market anchor rents and lease terms

Outparcels included

LAKELAND, FL

Offering Highlights

High Quality Multi-Anchor Retail Center Top tier community shopping center for Lakeland based on anchor line-up and location

Dynamic Lakeland MSAAttractive market for long term ownership of high quality retail

Projections for strong economic and population growth

Strong Tenant Roster with Seasoning

� National/regional tenants account for 89% of GLA

� Diverse anchor line-up drives customer traffic

� Chipotle and Heartland Dental occupy high visibility retail

building at hard corner

Attractive Income Stream

� Credit tenants account for 57% of revenue

� The average base rent for Hobby Lobby and Big Lots is just ±$7.00 psf

� Hobby Lobby lease expires in 2030

� Offering includes outparcel ground leased to high-volume Outback Steakhouse

� Opportunity to spin-off prime outparcel leased to Chipotle/

Heartland Dental

Prime Location

� 55,000 VPD at intersection

� Situated within Lakeland’s dominant retail node centered along US Highway 98

� Less than 1-mile north of the I-4 interchange at US Highway 98 and immediately proximate to Lakeland Square regional mall

� Strong nearby retail co-tenancy includes, to name a few, Ashley Furniture, Bealls, Best Buy, Burlington, Cinemark Theaters, Dick’s, Dillard’s, JC Penney, LA Fitness, Lowe’s, Macy’s, Publix, Old Navy, Rooms to Go, Ross, Staples, Target, TJ Maxx, Sam’s Club, Ulta, and Walmart Supercenter.

Attractive Demographics (3-mile radius)

Cushman & Wakefield’s Retail Investment Advisors is pleased to offer for sale Village Plaza, a multi-anchor community shopping center located in Lakeland, Florida. Originally completed in 1989, the center totals 158,956 sf and is currently leased to a high-quality line-up with national/regional tenants representing 89% of the GLA. Anchor tenants account for 63% of the GLA and include Hobby Lobby, Big Lots, and Party City. The offering includes a prime, two-tenant retail building (Chipotle Mexican Grill & Heartland Dental) located at the hard corner of the site and an outparcel ground leased to Outback Steakhouse. The center is situated less than one mile north of the I-4 interchange at US Highway 98 and in immediate proximity to the Lakeland Square enclosed regional mall. This offering represents the unique opportunity to acquire a high-quality community shopping center that enjoys a prime location within Lakeland’s dominant retail node and offers a highly secure income stream based on long term anchor leases at significantly below market rents.

51,006 8.5%

PROPERTY SUMMARY

Location4212 US Highway 98 North, Lakeland, Florida, 33809

Year Built 1989

GLA 158,956

Occupancy 97%

Anchors

Outparcel Tenants

$52,399Residents Proj. Population

Growth (2016-21Avg. Household

Income

Village PlazaLakeland, Florida

Location Highlights

Dynamic Lakeland MSA

� Attractive market for long term ownership of high-quality retail

� Diverse and healthy economy with a fast expanding transport/logistics industry (Amazon, FedEx and Walmart operate fulfillment centers in the area) and as the home to Publix’ headquarters (one of the 10 largest-volume supermarket chains in the US with +$34B in sales)

� Projections for strong economic and population growth -- the Lakeland MSA ranked #1 out of 25 MSA’s in FL for Y-O-Y job growth in 2016

Village Plaza

Strong Demos3-MILE RADIUS

� 51,006 residents

� 8.5% population growth by 2021

� $52,399 avg. HH income

Infill Location

� Major intersection – 55,000 VPD

� Situated within Lakeland’s dominant retail node centered along US Highway 98

� Less than 1-mile north of the I-4 interchange at US Highway 98 and immediately proximate to Lakeland Square regional mall

� Strong nearby retail co-tenancy

� Diverse anchor lineup led by Hobby Lobby, Big Lots and Party City

� 89% of the GLA occupied by national/regional tenants

� Offering includes valuable ground leased Outback Steakhouse and Chipotle / Heartland Dental retail building at hard corner

� At $7.12 psf, the average base rental rate for Hobby Lobby and Big Lots is very low

Tenancy Highlights

NATIONAL VS.LOCAL TENANCYBASED ON GLA

NATIONAL

88.7%

LOCAL

8.5%AVAILABLE

2.8%

TENANCY

MAJOR TENANTS SF % OF GLA

55,000 34.6%

32,383 20.4%

12,000 7.5%

Total Major Tenants 99,383 62.5%

SHOP TENANTS

National (10)* 29,134 18.3%

Local (6) 13,590 8.5%

Vacant (1) 4,440 2.8%

Total Shop Tenants 47,164 29.7%

OUTPARCELS

Wells Fargo 6,163 3.9%

4,107 2.6%

2,139 1.3%

Total Outparcels 12,409 7.8%

Total GLA 158,956 100.0%

*National tenants include Amscot, Armed Forces Recruiting, AT&T, Chipotle, CiCi’s Pizza, CosmoProf, Miracle Ear, Once Upon a Child, Subway, and Tropical Smoothie.

**Part of Multi-Tenant Outparcel D

Tenancy Highlights Village Plaza

**

**

ADAM FEINSTEINExecutive Director(305) 533 2863adam.feinstein@cushwake.com

MITCHELL HALPERNDirector(305) 533 2855mitchell.halpern@cushwake.com

SPENCER KINSELLAFinancial Analyst(305) 351 2464spencer.kinsella@cushwake.com

MARK GILBERTExecutive Managing Director(305) 533 2866mark.gilbert@cushwake.com

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