FOR SALE

130,000 SF Office Campus Lakeland, Florida

BARON REALTY, INC.

CORY T. PETCOFF LICENSED REAL ESTATE BROKER

1661 Williamsburg Square P.O. Box 2007 Lakeland, Florida 33803 Lakeland, Florida 33806

Phone: 863-607-4100 Fax: 863-607-4111

Email: Cory@baronrealty.com

Available Space:

This 123,699 SF office campus, net leased to Summit Consulting, Inc. (a wholly owned sub-sidiary of Liberty Mutual Insurance Company), sits underneath a canopy of oak trees and offers more than six parking spaces per 1000 square feet. Summit has operated out of this location since 1981 and has recently exercised a five year renewal that commences on October 1, 2010. This campus offers opportunities for expansion on existing land and in two buildings that were constructed in a manor that allows additional floors to be added without interrupting the ten-ant.

Location: This property is located less than 1 mile from the Polk County Parkway (SR 570) and offers conven-ient access to both Tampa and Orlando. This site has served as an ideal location for the current tenant's headquarters for nearly 30 years. For more information, please contact Cory Petcoff at 863-607-4100 or cory@baronrealty.com.

Pricing & Financial Analysis

Financial Overview

LOCATION ANNUALIZED OPERATING DATA2320 Commerce Point Drive Base Rent 1,460,586$ Lakeland, Florida 33801 Landlord Expense Responsibility 52,926$

Net Operating Income 1,407,660$ Price 17,000,000$ Debt Service 1,009,281$ Down Payment 30% Debt Coverage Ratio 1.50 Rentable Square Feet 123,669 Net Cash Flow After Debt Service 8.32% 424,460$ Price/SF 133.91$ Principal Reduction 177,343$ CAP Rate 8.28% Total Return 11.80% 601,803$ Year Built 1981-2003Lot Size 10.55 MOL AcresType of Ownership Fee Simple

TENANT SUMMARYTenant Trade Name Summit, Inc.

Ownership

Wholly Owned Subsidiary of Liberty

Mutual

Tenant Corporate StoreLease Guarantor Corporate GuaranteeLease Type Triple NetRoof and Structure Landlord ResponsibleLease Term 5 YearsLease Expiration Date 9/30/2015Term Remaining on Lease 5 YearsIncreases N/A

FINANCINGPROPOSED FINANCINGLoan Amount $11,900,000.00Loan Type Proposed NewInterest Rate 7.00%Amortization 25 YearsLoan to Value 70%

Every effort has been made to provide accurate information, however no liability for errors or ommisions is assumed.

Pictured Above: Hollis Gardens located in beautiful Downtown Lakeland

Picture, if you will, the perfect combination of small-town community spirit and hospitality coupled with big-city excitement and amenities. Got it? Now, position your thoughts in the perfect geographic location for ideal year-round climate, world-class attractions and well-balanced economic growth. Combine these thoughts and mix them with a community population base of about 220,000 diverse and amazingly friendly people and you have the essence of Lakeland, Florida. Lakeland is perfectly located in the heart of Central Florida, midway between Tampa and Orlando, the two most progressive big cities in the state. Lakeland represents the heart of this central Florida super region that will soon be connected by high speed rail. More than 8.5 million people live within a 100 mile radius of Lakeland. No other city in the Southeast can say that; not Miami, Charlotte, Atlanta, or even Dallas! The business world looks at Lakeland as a perfect hub for reaching the world’s economic centers because of its location and proximity to two international airports, a deep water port, two interstate highways and passenger and freight rail. The access to a skilled employment base and exceptional quality of life have contributed to making Lakeland the corporate headquarters or regional office site for major corporations like Publix Supermar-kets, GEICO, FedEx, Marriott Vacation Club, Lockheed Martin, WellDyneRx, and Summit Consulting. Lakeland’s employment opportunities are enhanced by nearby world class educational facilities including Florida Southern College, USF and USF Polytech, Polk State College, UCF, Southeastern College, Webber College, Travis Vocational/Technical School and many more. Lakeland also represents outstanding values in commercial and residential real estate. Combine this with rea-sonable tax rates, moderate utility costs, and a broad employment base and you will find an enhanced the pro-business environment championed by local leadership groups like The Lakeland Downtown Development Au-thority, Lakeland Economic Development Council, and the Polk County Economic Development Council.

Whether living here or visiting, people from all over the country agree-Lakeland is a delightful combination of lifestyle, amenities and eco-nomic stability for healthy long-term growth and prosperity.

PROPERTY PHOTOS

PROPERTY PHOTOS

Summit Campus Lakeland, FL Area Maps (1 of 4)

Summit Campus Lakeland, FL Area Maps (2 of 4)

Summit Campus Lakeland, FL Area Maps (3 of 4)

Summit Campus

Lakeland, FL Area Maps (4 of 4)

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Population 1-mi. 3-mi. 5-mi.2009 Male Population 4,896 25,136 58,7152009 Female Population 5,189 27,222 63,694% 2009 Male Population 48.55% 48.01% 47.97%% 2009 Female Population 51.45% 51.99% 52.03%2009 Total Adult Population 7,482 40,451 91,5322009 Total Daytime Population 13,400 55,194 127,6712009 Total Daytime Work Population 7,286 29,366 67,2642009 Median Age Total Population 31 34 342009 Median Age Adult Population 40 42 432009 Age 0-5 936 4,157 10,5142009 Age 6-13 1,159 5,123 13,7282009 Age 14-17 509 2,626 6,6352009 Age 18-20 511 2,852 5,6642009 Age 21-24 848 4,023 7,4552009 Age 25-29 836 3,949 8,4562009 Age 30-34 758 3,560 8,0022009 Age 35-39 702 3,579 8,4512009 Age 40-44 710 3,638 8,7232009 Age 45-49 632 3,396 8,1302009 Age 50-54 527 3,030 7,2312009 Age 55-59 433 2,550 5,8282009 Age 60-64 350 2,030 4,9172009 Age 65-69 309 1,850 4,3412009 Age 70-74 303 1,856 4,3402009 Age 75-79 264 1,728 4,1052009 Age 80-84 166 1,291 3,1142009 Age 85+ 132 1,118 2,776% 2009 Age 0-5 9.28% 7.94% 8.59%% 2009 Age 6-13 11.49% 9.78% 11.21%% 2009 Age 14-17 5.05% 5.02% 5.42%% 2009 Age 18-20 5.07% 5.45% 4.63%% 2009 Age 21-24 8.41% 7.68% 6.09%% 2009 Age 25-29 8.29% 7.54% 6.91%% 2009 Age 30-34 7.52% 6.80% 6.54%% 2009 Age 35-39 6.96% 6.84% 6.90%% 2009 Age 40-44 7.04% 6.95% 7.13%% 2009 Age 45-49 6.27% 6.49% 6.64%% 2009 Age 50-54 5.23% 5.79% 5.91%% 2009 Age 55-59 4.29% 4.87% 4.76%% 2009 Age 60-64 3.47% 3.88% 4.02%% 2009 Age 65-69 3.06% 3.53% 3.55%% 2009 Age 70-74 3.00% 3.54% 3.55%% 2009 Age 75-79 2.62% 3.30% 3.35%% 2009 Age 80-84 1.65% 2.47% 2.54%% 2009 Age 85+ 1.31% 2.14% 2.27%2009 White Population 7,612 43,606 92,4872009 Black Population 1,300 4,066 18,7162009 Asian/Hawaiian/Pacific Islander 375 1,501 3,3672009 American Indian/Alaska Native 54 264 5182009 Other Population (Incl 2+ Races) 744 2,920 7,3212009 Hispanic Population 1,297 5,738 13,6822009 Non-Hispanic Population 8,789 46,620 108,727% 2009 White Population 75.48% 83.29% 75.56%% 2009 Black Population 12.89% 7.77% 15.29%% 2009 Asian/Hawaiian/Pacific Islander 3.72% 2.87% 2.75%% 2009 American Indian/Alaska Native 0.54% 0.50% 0.42%% 2009 Other Population (Incl 2+ Races) 7.38% 5.58% 5.98%% 2009 Hispanic Population 12.86% 10.96% 11.18%% 2009 Non-Hispanic Population 87.14% 89.04% 88.82%2000 Non-Hispanic White 7,339 39,421 81,1542000 Non-Hispanic Black 858 2,791 15,0232000 Non-Hispanic Amer Indian/Alaska Native 128 501 660

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Demographics for 2310 Commerce Point Drive, Lakeland, FL 33801 http://www.loopnet.com/xNet/MainSite/Listing/Profile/ListingDemograph...

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Population 1-mi. 3-mi. 5-mi.2000 Non-Hispanic Asian 272 1,164 2,1252000 Non-Hispanic Hawaiian/Pacific Islander 3 20 202000 Non-Hispanic Some Other Race 7 23 482000 Non-Hispanic Two or More Races 210 692 1,361% 2000 Non-Hispanic White 83.24% 88.36% 80.84%% 2000 Non-Hispanic Black 9.73% 6.26% 14.96%% 2000 Non-Hispanic Amer Indian/Alaska Native 1.45% 1.12% 0.66%% 2000 Non-Hispanic Asian 3.08% 2.61% 2.12%% 2000 Non-Hispanic Hawaiian/Pacific Islander 0.03% 0.04% 0.02%% 2000 Non-Hispanic Some Other Race 0.08% 0.05% 0.05%% 2000 Non-Hispanic Two or More Races 2.38% 1.55% 1.36%

Population Change 1-mi. 3-mi. 5-mi.Total Employees n/a n/a n/aTotal Establishments n/a n/a n/a2009 Total Population 10,085 52,358 122,4092009 Total Households 4,023 22,003 50,177Population Change 1990-2009 1,384 6,698 21,038Household Change 1990-2009 621 3,034 9,235% Population Change 1990-2009 15.91% 14.67% 20.75%% Household Change 1990-2009 18.25% 15.99% 22.56%Population Change 2000-2009 475 4,401 14,366Household Change 2000-2009 282 2,249 6,716% Population Change 2000-2009 4.94% 9.18% 13.30%% Households Change 2000-2009 7.54% 11.39% 15.45%

Housing 1-mi. 3-mi. 5-mi.2000 Total Housing Units 4,159 22,330 50,0652000 Occupied Housing Units 3,808 20,011 43,7412000 Owner Occupied Housing Units 2,187 12,716 28,7452000 Renter Occupied Housing Units 1,621 7,295 14,9962000 Vacant Housing Units 351 2,319 6,324% 2000 Occupied Housing Units 91.56% 89.61% 87.37%% 2000 Owner Occupied Housing Units 52.58% 56.95% 57.42%% 2000 Renter Occupied Housing Units 38.98% 32.67% 29.95%% 2000 Vacant Housing Units 8.44% 10.39% 12.63%

Income 1-mi. 3-mi. 5-mi.2009 Median Household Income $38,728 $41,925 $41,1332009 Per Capita Income $22,418 $26,202 $25,4662009 Average Household Income $56,199 $62,351 $62,1252009 Household Income < $10,000 224 1,388 3,5852009 Household Income $10,000-$14,999 212 1,315 3,3232009 Household Income $15,000-$19,999 306 1,417 3,5012009 Household Income $20,000-$24,999 300 1,593 3,6882009 Household Income $25,000-$29,999 346 1,440 3,4432009 Household Income $30,000-$34,999 361 1,639 3,5622009 Household Income $35,000-$39,999 352 1,560 3,2302009 Household Income $40,000-$44,999 352 1,686 3,3412009 Household Income $45,000-$49,999 344 1,485 3,1312009 Household Income $50,000-$59,999 417 2,419 4,9232009 Household Income $60,000-$74,999 338 2,707 5,6232009 Household Income $75,000-$99,999 328 1,991 5,4782009 Household Income $100,000-$124,999 50 562 1,3622009 Household Income $125,000-$149,999 44 381 8672009 Household Income $150,000-$199,999 26 241 6162009 Household Income $200,000-$249,999 4 50 1432009 Household Income $250,000-$499,999 18 127 3572009 Household Income $500,000+ 1 2 62009 Household Income $200,000+ 23 179 506% 2009 Household Income < $10,000 5.57% 6.31% 7.14%% 2009 Household Income $10,000-$14,999 5.27% 5.98% 6.62%% 2009 Household Income $15,000-$19,999 7.61% 6.44% 6.98%% 2009 Household Income $20,000-$24,999 7.46% 7.24% 7.35%% 2009 Household Income $25,000-$29,999 8.60% 6.54% 6.86%% 2009 Household Income $30,000-$34,999 8.97% 7.45% 7.10%% 2009 Household Income $35,000-$39,999 8.75% 7.09% 6.44%% 2009 Household Income $40,000-$44,999 8.75% 7.66% 6.66%% 2009 Household Income $45,000-$49,999 8.55% 6.75% 6.24%% 2009 Household Income $50,000-$59,999 10.37% 10.99% 9.81%% 2009 Household Income $60,000-$74,999 8.40% 12.30% 11.21%% 2009 Household Income $75,000-$99,999 8.15% 9.05% 10.92%% 2009 Household Income $100,000-$124,999 1.24% 2.55% 2.71%

Demographics for 2310 Commerce Point Drive, Lakeland, FL 33801 http://www.loopnet.com/xNet/MainSite/Listing/Profile/ListingDemograph...

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Income 1-mi. 3-mi. 5-mi.% 2009 Household Income $125,000-$149,999 1.09% 1.73% 1.73%% 2009 Household Income $150,000-$199,999 0.65% 1.10% 1.23%% 2009 Household Income $200,000-$249,999 0.10% 0.23% 0.28%% 2009 Household Income $250,000-$499,999 0.45% 0.58% 0.71%% 2009 Household Income $500,000+ 0.02% 0.01% 0.01%% 2009 Household Income $200,000+ 0.57% 0.81% 1.01%

Retail Sales Volume 1-mi. 3-mi. 5-mi.2009 Children/Infants Clothing Stores $1,339,767 $7,952,437 $18,391,1032009 Jewelry Stores $1,001,905 $5,927,584 $13,672,6612009 Mens Clothing Stores $2,108,735 $12,142,736 $28,369,0502009 Shoe Stores $1,947,591 $11,327,176 $26,319,4282009 Womens Clothing Stores $3,959,950 $22,378,824 $52,187,8532009 Automobile Dealers $25,919,579 $155,391,927 $346,813,7612009 Automotive Parts/Acc/Repair Stores $3,145,970 $18,492,055 $42,294,0152009 Other Motor Vehicle Dealers $948,220 $5,519,568 $12,836,0012009 Tire Dealers $832,176 $4,915,516 $11,204,9162009 Hardware Stores $345,211 $2,369,168 $5,569,6452009 Home Centers $2,853,666 $16,833,314 $38,068,4292009 Nursery/Garden Centers $854,781 $5,123,284 $11,605,6832009 Outdoor Power Equipment Stores $339,875 $2,108,973 $4,459,9832009 Paint/Wallpaper Stores $111,992 $660,326 $1,467,0992009 Appliance/TV/Other Electronics Stores $2,361,611 $13,684,638 $31,915,2942009 Camera/Photographic Supplies Stores $402,851 $2,364,407 $5,424,3462009 Computer/Software Stores $1,278,964 $7,403,096 $16,911,2582009 Beer/Wine/Liquor Stores $1,463,791 $8,645,604 $20,063,5012009 Convenience/Specialty Food Stores $2,710,182 $18,704,936 $42,514,9972009 Restaurant Expenditures $12,651,944 $87,677,948 $201,125,9922009 Supermarkets/Other Grocery excl Conv $17,670,464 $103,709,436 $237,316,5252009 Furniture Stores $2,492,826 $14,614,966 $33,481,3232009 Home Furnishings Stores $1,505,666 $8,815,936 $20,737,5092009 Gen Merch/Appliance/Furniture Stores $22,247,811 $129,592,981 $298,826,1292009 Gasoline Stations w/ Convenience Stores $14,096,023 $82,886,298 $194,966,7352009 Other Gasoline Stations $11,385,841 $64,181,364 $152,451,7392009 Department Stores excl Leased Depts $24,609,421 $143,277,617 $330,741,4232009 General Merchandise Stores $19,754,985 $114,978,015 $265,344,8082009 Other Health/Personal Care Stores $1,688,190 $10,021,968 $22,536,4122009 Pharmacies/Drug Stores $8,548,104 $50,105,506 $114,546,5512009 Pet/Pet Supplies Stores $1,274,121 $7,362,916 $16,893,9542009 Book/Periodical/Music Stores $514,634 $2,457,973 $6,350,3122009 Hobby/Toy/Game Stores $638,642 $3,905,385 $8,022,1572009 Musical Instrument/Supplies Stores $227,638 $1,349,343 $3,053,5362009 Sewing/Needlework/Piece Goods Stores $85,451 $453,681 $1,113,8872009 Sporting Goods Stores $1,031,894 $5,980,740 $15,387,6762009 Video Tape Stores - Retail $199,841 $1,171,277 $2,689,740

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Demographics for 2310 Commerce Point Drive, Lakeland, FL 33801 http://www.loopnet.com/xNet/MainSite/Listing/Profile/ListingDemograph...

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