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Data in this report based on office buildings meeting these minimum requirements: Excludes all owner occupied and government assets. Sales statistics include all properties regardless of size.

MARKET COVERAGE

LEASING STATISTICS

Year: 2014 2015 2016 2017 2018Median Price PSF $57 $66 $77 $94 $113

# of Sales 31 31 37 34 13

Year: 2014 2015 2016 2017 2018Median Price PSF $47 $50 $62 $65 $82

# of Sales 110 117 97 90 125

SWFL ECONOMIC OVERVIEW

Unemployment in the tri-county region, roseslightly at year end from 3.1% in November of2018 to 3.5% in December. Lee County rose 0.3percentage points (pp) to 3.3%, Collier Countyrose 0.4 pp to 3.4%, and Charlotte County rose0.4 pp to 4.0% over the same time period.

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

Year-End passenger traffic data from SouthwestFlorida International (RSW) Airport showed ayear-over year 10.0% increase in December2018. Sarasota Bradenton Airport also posted a39% increase during the same period, andCharlotte County’s Punta Gorda Airport saw a2% increase year-over year.

Year-End 2018

364,426SF Delivered YTD

280,571SF Under Construction

NEW & UNDER CONSTRUCTION

BUILDING SALES

CONDO SALES

AVG. ASKING BASE RENTNET ABSORPTIONVACANCY

INDUSTRIALMarket 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 108 1,143,691 19,767 1.7% $12.00

Cape Coral 346 3,330,255 121,122 3.6% $7.94

City of Fort Myers 604 8,546,476 175,077 2.0% $7.44

Lehigh Acres 81 1,163,450 13,080 1.1% $9.13

North Fort Myers 73 1,243,064 26,462 2.1% $7.28

South Fort Myers 743 11,905,548 379,075 3.2% $7.73

The Islands 80,166 0 0.0% n/a

Total 1,955 27,412,650 734,583 2.7% $7.73

Description Address City RSF Built Date Price Price PSF

Self-Storage 11301 Bonita Beach RdBonita Springs

87,287 2008 01/10/18 $17,350,000 $198.77

Self-Storage 8900-8901 Commons

BlvdEstero 93,649 2001 01/02/18 $12,262,875 $130.95

Industrial Distribution 2670 Colonial Blvd Fort Myers 92,164 1974 06/05/18 $6,400,000 $69.44

Industrial Service 16701 Old US 41 Fort Myers 16,450 2016 06/19/18 $5,637,973 $342.73

Industrial Manufacturing 4245 Evans Ave Fort Myers 113,715 1989 12/11/18 $4,355,000 $38.30

PROPERTY ADDRESS CITY SF BUILT DATE TENANT

Class B Industrial Distribution

10016-10030 Bavaria Rd Fort Myers 60,000 1989 9/7/18 Amazon.com

Class B Industrial Warehouse

16381 Domestic Ave Fort Myers 40,000 2019 11/5/18 EMS European Metric Steel Corp.

Class C Industrial Warehouse

3020-3048 Old Metro Pkwy Fort Myers 39,900 1965 1/15/18 Suncoast Roofers Supply

Class A Distribution 9359 Laredo Ave Fort Myers 38,497 2017 5/3/18 Lansing Building Products

Class A Flex/Light Distribution

901 E Industrial Cir Cape Coral 36,561 2008 11/15/18 Modtech Inc.

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

Notable Industrial Sales Transactions (Past 365 Days)