2017 Year-End Market Summary

According  to  Real  Capital  Analytics,  Jacksonville-area  investment  sales  (over  $5 million) 
for the year 2017 totaled about $2.57 billion, up about 29% from 2016 and just off the peak of 
2014’s total of $2.9 billion.

> As in recent year’s past, local sales were led by multifamily (apartment) sales at $1.56 billion, 
   about 61% of the total
> Warehouse sales came in second place in 2017 totaling a staggering $315 million (12% of the 
   total), or $49/SF; approximately 85% of this total was from five portfolio sales to purchasers 
   including Blackstone ($76 million), Ivanhoe Cambridge ($73 million), DRA Advisors ($48 million), 
   MDH Partners ($38 million) and Stag ($31 million)
> Shopping  center/retail  sales  (including  single-tenant  retail/commercial  assets) totaled 
   $239 million (9% of the total volume) involving approximately 22 local assets

•     $17.5 million of this figure accounted for three single-tenant Walgreens
•     Five sales included Regency’s purchase of Equity One REIT that aggregated to about $95 
      million locally
•     The remaining 14 sales totaled about $139 million for about 1.1 million SF and an
      average price of $132/SF