LEASING STATISTICS

Data in this report based on retail buildings meeting these minimum requirements: Excludes all owner occupied and government assets. Sales statistics include all properties regardless of size. Marco Island Not Included.

MARKET COVERAGE

Year: 2014 2015 2016 2017 2018Median Price PSF $111 $133 $132 $137 $171

# of Sales 155 162 130 159 193

Year: 2014 2015 2016 2017 2018Median Price PSF $73 $73 $109 $174 $124

# of Sales 10 13 13 12 7

AVG. ASKING BASE RENTNET ABSORPTIONVACANCY

BUILDING SALES

CONDO SALES

SWFL ECONOMIC OVERVIEW

Unemployment in the tri-county region, roseslightly at year end from 3.1% in Novemberof 2018 to 3.5% in December. Lee Countyrose 0.3 percentage points (pp) to 3.3%,Collier County rose 0.4 pp to 3.4%, andCharlotte County rose 0.4 pp to 4.0% overthe same time period.

Taxable sales fell slightly across the region—down 1 percent in December to end at$2.328 billion.

Year-End passenger traffic data fromSouthwest Florida International (RSW)Airport showed a year-over year 10.0%increase in December 2018. SarasotaBradenton Airport also posted a 39%increase during the same period, andCharlotte County’s Punta Gorda Airport sawa 2% increase year-over year.

368,102SF Delivered YTD

125,120SF Under Construction

NEW & UNDER CONSTRUCTION

Year-End 2018

Market Statistics

FORT MYERS OFFICE12140 Carissa Commerce Ct, Suite 102Fort Myers, FL 33966239.481.3800 Tel239.481.9950 Fax

NAPLES OFFICE1100 5th Avenue S, Suite 100Naples, FL 34102239.659.1447 Tel239.659.4028 Fax

STUART OFFICE368 NW Alice AveStuart, FL 34994772.403.5204 Tel239.481.9950 Fax

© 2018, CRE Consultants. Information herein has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm itsaccuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the market. This information is designed exclusively for use by CRE Consultants clients, and cannot bereproducedwithout prior written permission of CRE Consultants.

C R E c o n s u l t a n t s . c o m

Submarket # Bldgs Tracked Building SF Vacant SF Vacancy RateAverage Asking Base Rent PSF

Bonita Springs/Estero 375 6,849,768 503,666 7.4% $16.08

Cape Coral 708 8,035,110 438,648 5.5% $14.52

City of Fort Myers 719 7,123,169 350,501 4.9% $11.58

Lehigh Acres 132 1,535,112 31,086 2.0% $13.87

North Fort Myers 157 1,830,962 124,623 6.8% $11.39

South Fort Myers 901 14,351,183 606,614 4.2% $16.06

The Islands 149 1,035,010 8,005 0.8% n/a

Total 3,141 40,760,314 2,063,143 5.1% $14.76

Description Address City RSF Built Date Price Price PSF

Investment Sale Service Station

9372 Ben C Pratt/Six Mile Cypress Pky

Fort Myers 123,206 2006 04/25/18 $26,274,881 $213.26

Investment Sale Grocery

2420-2426 Santa Barbara Blvd & 2522 Santa Barbara

BlvdCape Coral 75,386 2002 06/15/18 $16,500,000 $218.87

Investment Sale Grocery

13101-13121 Paul J Doherty Pky

Fort Myers 65,698 2017 07/27/18 $16,500,000 $251.15

Investment Sale Retail Neighborhood Center

10580 Colonial Blvd Fort Myers 69,475 2007 $12,200,000 $175.60

Investment Sale Retail Neighborhood Center

4901 Palm Beach BlvdNorth Fort

Myers176,255 1982 12/21/18 $11,300,000 $64.11

Property Address City SF Built Date Tenant

Retail Power Center9355-9359 Six Mile Cypress

PkwyFort Myers 42,250 2010 7/3/18 Ollie's Bargain Outlet

Retail Lifestyle Center

13499 S Cleveland Ave Fort Myers 39,971 1996 1/15/18 Dave & Busters

Retail Freestanding 6111 S Pointe Blvd Fort Myers 31,000 1983 4/25/18 Word of Life Ministries

Retail Neighborhood

Center

6800-6830 Shoppes at Plantation Dr

Fort Myers 28,953 2004 11/8/18SWFL Workforce

Development Board

Retail Restaurant 13851 S Tamiami Trl Fort Myers 12,698 2003 10/3/18 Leopardi's Italian Restaurant

Notable Retail Sales Transactions (Past 365 Days)

Notable Retail Lease Transactions (Past 365 Days) (Renewals not included)