Survey of Expanded Alternatives

Survey of Expanded Alternatives
Survey of Expanded Alternatives June 14, 2016 Presented on November 4, 2009 1

Table of Contents Map of Office Submarkets and Options
Survey of Available Properties Employee resident concentration by Zip Code Directors by Zip Code with Building Options Sunrise/Sawgrass Park Market Overview Directors by Zip Code with 5 & 10 mile radius Sunset Plaza Sawgrass Court Sawgrass Lake Center Sawgrass Point Plantation Market Overview Cornerstone 3 American Express Miramar Market Overview Pembroke Pointe Monarch Lakes Hollywood Market Overview DCOTA Cypress Creek Market Overview Spectrum Office Bldg./Citrix Coral Springs/Tamarac Market Overview State Farm Boca Raton Market Overview Applied Card Systems Bldg Boca Innovation Campus – two buildings

Major Office Centers Boca Raton Coral Springs/Tamarac Cypress Creek
12 Coral Springs/Tamarac 13 14 11 Cypress Creek Sunrise/Sawgrass 10 2 3 1 6 4 Plantation 5 Miramar Hollywood 9 7 8

Associate Zip Code Map All Employees Directors and Above

Directors By Zip Code with Building Options
12 13 14 11 10 2 3 1 6 4 5 9 7 8

Available Properties 1 Sunset Plaza 13621 NW 12th St
Property No. Building Name Building Address Submarket Rentable Building Area (SF) Total Available Space (SF) Max Building Contiguous Space (SF) Asking Rent (NNN) Building Operating Expenses Parking Ratio (per 1,000 SF) 1 Sunset Plaza 13621 NW 12th St Sunrise/Sawgrass Park 109,268 57,870 $16.00 $10.78 5 2 Sawgrass Court 1401 NW 136th Ave 105,487 73,748 $16.50 $10.00 3 Sawgrass Lake Center 13450 W Sunrise Blvd 239,373 112,973 107,064 $21.84 $11.52 4.7 4 Sawgrass Pointe III 13670 NW 12th St 87,414 $22.00 $11.00 4.1 Cornerstone Three 1220 S Pine Island Rd Plantation 110,000 $23.00 $12.00 4.5 6 American Express 777 American Express Way 388,431 $19.00 7 Pembroke Pointe 880 880 SW 145th Ave Miramar 143,535 126,205 $23.50 8 Monarch Lakes 3110 SW 145th Ave $22.50 9 DCOTA-Design Center of The Americas 1855 Griffin Rd Hollywood 734,225 135,708 56,813 $30.50 $12.50 10 Spectrum Office Bldg / Citrix 1801 W Spectrum Blvd Cypress Creek 75,000 $18.00 5.2 11 State Farm Bldg 5601 Hiatus Rd Coral Springs 100,000 $17.00 9.68 12 Applied Card Systems 5401 Broken Sound Blvd NW Boca Raton 66,905 4.67 13 Boca Innovation Campus 4530 Conference Way S 143,133 80,000 $13.50 $9.90 14 4700 Exchange Ct 301,221 132,000

Sunrise/Sawgrass Park
Office Market Datay Demographics Total Office (SF) 3,833,816 Household Median Income $49,242 Office Vacancy 14.9% Median SFH Value $238,600 Average Rent (PSF) $28.06 % Working Population 40% Available (>50k SF) 3 Permitting - New 18 months 3 2 1 4 Geographic location Commute Public Trans. “LWP” Major Employers Company Sector Mednax Healthcare American Express Financial Services Ultimate Software Technology GSA – EPA Government Cleveland Clinic Housing Cost Growth Proximity Municipality Permitting New Permitting Existing Incentives Perception Challenging Acceptable Ideal

AMEX Relocation A total of 400,000 SF of office space Planned to house 3,000 employees being relocated from Plantation, Miramar and Weston Employee functions include IT, customer service, administrative and management Soft opening scheduled for November/December 2016

Sawgrass Zip Code Map 37 Employees Directors and Above 88 Employees

Sunset Plaza 13621 NW 12th St Sunrise, FL
Availability Existing RSF (avail) 109,268 RSF (in bldg.) Floors (avail) 1.5 Floorplate(s) 33,000 Base Rent (Opex) $16.00 ($10.78) Parking 5/1,000 Good Option - Building currently has 50,000 SF on the market for sublease (additional space available) with only two years remaining. Building is also on the market for sale as part of owner Liberty Property Trust’s disposition of all office assets. Sale expected to close in late June 2016. Commentary Located in Sawgrass Park near current HQ Access to major highways is good providing for easy commute form north, south and east Very Good residential options within 10 mile radius Great amenities within 1 mile (Sawgrass Mills Mall) Geographic location Commute Transit Food Services Excellent window line and efficient floorplate Signage rights offered Entire building available Ability to brand the building and premises Facility Floorplate Expansion Flexibility Public space "Feel" Parking Problem Acceptable Ideal

Sawgrass Court 1401 NW 136th Ave Sunrise, FL
2 Sawgrass Court 1401 NW 136th Ave Sunrise, FL Availability Existing RSF (avail) 73.748 RSF (in bldg.) 105,487 Floors (avail) 2 Floorplate(s) 26,000 Base Rent (Opex) $16.50 ($10.00) Parking 5/1,000 Building previously considered. Challenging floorplates with poor connectivity between each side. Ownership is European based group that has been slow to make investments in the property over the prior 8 years. Commentary Geographic location Commute Transit Food Services Located in Sawgrass Park near current HQ Access to major highways is good providing for easy commute form north, south and east Very Good residential options within 10 mile radius Great amenities within 1 mile (Sawgrass Mills Mall) Poor floor plates for full floor tenant Ownership has been slow to make adequate investments in the property. Good window lines, natural light due to depth of the floor plate Building has tired feel and reputation Facility Floorplate Expansion Flexibility Public space "Feel" Parking Problem Acceptable Ideal

Sawgrass Lake Center 13450 W Sunrise Blvd Sunrise, FL
Availability Existing RSF (avail) 112,973 RSF (in bldg.) 239,373 Floors (avail) 5 Floorplate(s) 40,753 Base Rent (Opex) $21.84 ($11.52) Parking 4.7/1,000 Good Option – After AT&T vacates ,building will have +/- 65,000 SF of contiguous space on top two floors (40,000 & 25,000 SF). Parking ratio is insufficient but ownership indicates that they can provide up to 6/1,000 SF. Commentary Located near current HQ Access to major highways is good providing for easy commute form north, south and east Very Good residential options within 10 mile radius Great amenities cross the street at Sawgrass Mills Mall Geographic location Commute Transit Food Services Large efficient floorplates with good window line Signage rights offered Structured parking garage Facility Floorplate Expansion Flexibility Public space “Feel” Parking Problem Acceptable Ideal

Sawgrass Pointe III 13670 NW 12th St Sunrise, FL
4 Sawgrass Pointe III NW 12th St Sunrise, FL Availability Proposed RSF (avail) 87,414 RSF (in bldg.) Floors (avail) 3 Floorplate(s) 29,138 Base Rent (Opex) $22.00 ($11.00) Parking 4.1/1,000 Build –to–suit option near current location. Ability to modify design to best suit operational needs. Purchase option may be possible. Property was part of Duke divestiture in 2014 of office properties and is now owned by JV that includes Starwood REIT. Commentary Geographic location Commute Transit Food Services Located in Sawgrass Park near current HQ Access to major highways is good providing for easy commute form north, south and east Very Good residential options within 10 mile radius Great amenities within 1 mile (Sawgrass Mills Mall) Build-to-Suit option +/-29,000 SF floorplates but ability to modify to best suit needs Parking for full buildout is 4/1,000 SF, possible to increase with lower RSF or structured parking Ability to control users and other factors that impact the feel of the space Facility Floorplate Expansion Flexibility Public space “Feel” Parking Problem Acceptable Ideal

Plantation Major Employers 6 5 Geographic location Commute
Office Market Datay Demographics Total Office (SF) 6,063,813 Household Median Income $66,579 Office Vacancy 17.6% Median SFH Value $346,800 Average Rent (PSF) $26.25 % Working Population 40% Available (>50k SF) 3 Permitting - New 20 6 5 Geographic location Commute Public Trans. “LWP” Major Employers Company Sector DHL Transportation Sheridan Healthcare National Beverage Food & Beverage Tradestation Financial Services U-Health Housing Cost Growth Proximity Municipality Permitting New Permitting Existing Incentives Perception Challenging Acceptable Ideal

Plantation Zip Code Map
Directors and Above 41 Employees 89 Employees

Cornerstone Three 1220 S Pine Island Rd Plantation, FL
5 Cornerstone Three 1220 S Pine Island Rd Plantation, FL Availability Proposed RSF (avail) 110,000 RSF (in bldg.) Floors (avail) 5 Floorplate(s) 22,000 Base Rent (Opex) $22.00 ($12.00) Parking 4.5/1,000 Second Build-to-suit option as lease of turn key sale. Good location next to DHL North American HQ at intersection of I-595 and Pine Island Road. Plantation approval process is slower than other municipalities but timing is still achievable. Need to reduce building size by 25,000 SF to achieve parking ratio. Commentary Geographic Location Commute Transit Food Services Good access to highways and commute patterns Very good and diverse residential options within 15 mile radius Variety of food and service offerings within ½ mile of property Good office area with numerous large users Excellent window line and efficient but smaller floorplate Park has good corporate feel and is well maintained Ability to modify specific building features to best suit needs Parking if full building constructed is tight unless structure is added Facility Floorplate Expansion Flexibility Public space “Feel” Parking Problem Acceptable Ideal

American Express 777 American Express Way Plantation, FL
6 American Express 777 American Express Way Plantation, FL Availability 1/2017 RSF (avail) 388,431 RSF (in bldg.) Floors (avail) 6 Floorplate(s) 60,000 Base Rent (Opex) $19.00 ($11.00) Parking 6/1,000 Large floorplates that can provide for good efficiency but large building which leads to less control over other tenants, competition for employees and general feel of the space. Amex will move out in late 2016 and the building will undergo major renovation to convert to multi-tenancy. Commentary Geographic location Commute Transit Food Services Good access to current employee base Access to major highways is fair Nearby retail offers good food and service options but will be better with redevelopment of nearby fashion mall. Fair window line because large floorplates limit outside windows but option to utilize interior atrium to improve window “feel” Owner will be adding multi-family project on east side of property which may add traffic and impact eastern view corridor Public or common space is expected to be renovated and offer a more substantial presence than other options Facility Floorplate Expansion Flexibility Public space “Feel” Parking Problem Acceptable Ideal

Miramar Major Employers Office Market Datay Demographics 7 8
Total Office (SF) 3,204,559 Household Median Income $63,299 Office Vacancy 9.9% Median SFH Value $184,900 Average Rent (PSF) $28.83 % Working Population 45% Available (>50k SF) 7 Permitting - New 18 months 7 8 Geographic location Commute Public Trans. “LWP” Major Employers Company Sector Memorial Healthcare Healthcare Spirit Airlines Aviation Humana Insurance Quest Diagnostics SpaceCoast Credit Financial Housing Cost Growth Proximity Municipality Permitting New Permitting Existing Incentives Perception Challenging Acceptable Ideal

Miramar Zip Code Map Directors and Above 28 Employees 53 Employees

Pembroke Pointe 880 880 SW 145th Ave Miramar, FL
7 Pembroke Pointe SW 145th Ave Miramar, FL Availability Immediate RSF (avail) 126,205 RSF (in bldg.) 143,535 Floors (avail) 4 Floorplate(s) 36,000 Base Rent (Opex) $23.50 ($11.00) Parking 5/1,000 First building was completed in Q1 of Three additional buildings planned but Duke Property has made decision to sell first building when stabilized and vacant land to other developer. May be good option to have Duke construct building for a BTS sale since developer are hesitant to take on challenge/carry of 3 building project. Commentary Geographic location Commute Transit Food Services Located about 12 miles south of current HQ and toward the south end of the employee population Good amenities in the adjoin Pembroke Commons Good access to roads and I-75 Fronts I-75 Ability to make design modifications prior to construction to suit needs Large efficient floorplates with great window line Parking can be modified up to 6/1,000 to suit needs Built to modern windstorm code Facility Floorplate Expansion Flexibility Public space “Feel” Parking Problem Acceptable Ideal

Monarch Lakes 3110 SW 145th Ave Miramar, FL
8 Monarch Lakes 3110 SW 145th Ave Miramar, FL Availability Proposed RSF (avail) 110,000 RSF (in bldg.) Floors (avail) 4 Floorplate(s) 27,500 Base Rent (Opex) $22.50 ($11.00) Parking 5/1,000 Another good Build-to-suit option but included in same Liberty Property trust sale portfolio as Sunset Plaza. Liberty has indicated possible option of pulling site for BTS sale. Primary access is Miramar Blvd but also accessible off of Pines like Pembroke Pointe. Commentary Geographic location Commute Transit Food Services Located about 12 miles south of current HQ and toward the south end of the employee population Good amenities in the adjoin Pembroke Commons Good access to roads and I-75 Excellent window line and efficient floorplate Signage rights offered Entire building available Ability to brand the building and premises Need to reduce building size by 20,000 SF to achieve /1,000 parking Facility Floorplate Expansion Flexibility Public space “Feel” Parking Problem Acceptable Ideal

Hollywood Major Employers Office Market Datay Demographics
Total Office (SF) 5,512,288 Household Median Income $63,299 Office Vacancy 10% Median SFH Value $184,900 Average Rent (PSF) $28.65 % Working Population 45% Available (>50k SF) 4 Permitting - New 9 Geographic location Commute Public Trans. “LWP” Major Employers Company Sector Memorial Healthcare Healthcare Heico Aviation Diplomat Resort Hospitality Hospital Physician Elizabeth Arden Retail Housing Cost Growth Proximity Municipality Permitting New Permitting Existing Incentives Perception Challenging Acceptable Ideal

DCOTA 1855 Griffin Rd Hollywood, FL
9 DCOTA 1855 Griffin Rd Hollywood, FL Availability Immediate RSF (avail) 135,708 RSF (in bldg.) 734,225 Floors (avail) 3 Floorplate(s) 35-56,000 Base Rent (Opex) $30.50 ($12.50) Parking 5/1,000 Interesting option – currently Design Center of The Americas but ownership is pairing back the design showrooms and converting large sections of the property to Office. Located on east side of I-95 with Tri-rail option on the west side of I-95. Good highway access but commute on I-95 is challenging for current employee population. Commentary Geographic location Commute Transit Food Services Located on east side of Broward County just south of FLL and along I-95 Good access to employees living in urban core of downtown, Miami and Broward beach areas Food options in immediate area are average, other services good Facility Floorplate Expansion Flexibility Due to nature of building, window lines are average but higher ceiling and open areas abundant The overall “feel” is heavily dictated by design of tenant space with increased flexibility due to prior use Parking can accommodate 6/1,000 Public space “Feel” Parking Problem Acceptable Ideal

Cypress Creek Major Employers Geographic location Commute
Office Market Datay Demographics Total Office (SF) 8,153,570 Household Median Income $63,299 Office Vacancy 15.1% Median SFH Value $184,900 Average Rent (PSF) $23.27 % Working Population 45% Available (>50k SF) 3 Permitting - New N/A 10 Geographic location Commute Public Trans. “LWP” Major Employers Company Sector Citrix Technology Kaplan Education Zimmerman Advertising AMR Healthcare Vitas Housing Cost Growth Proximity Municipality Permitting Existing Incentives Perception Challenging Acceptable Ideal

Spectrum Office Bldg/Citrix 1801 W Spectrum Blvd Cypress Creek, FL
10 Spectrum Office Bldg/Citrix 1801 W Spectrum Blvd Cypress Creek, FL Availability Immediate RSF (avail) 75,000 RSF (in bldg.) Floors (avail) 3 Floorplate(s) 25,000 Base Rent (Opex) $18.00 ($11.00) Parking 5.2/1,000 Physical building is very good option as building was previously occupied by Citrix. High impact windows and wiring for power redundancy. Parking is limited to less than 5/1.000 SF and area is heavily built-out so parking adjacent is limited. Access to major roads is good but residential options push out a little further than other options. Commentary Geographic location Commute Transit Food Services Located approximately 10 miles east of current HQ Commute for existing employee population will be longer Average access to food and other services Business Park is combination of office and some higher finish warehouse space. Existing building is well configured for office operation with call center component Parking is a challenge for anything over 5/1,000 SF but not impossible Facility Floorplate Expansion Flexibility Public space “Feel” Parking Problem Acceptable Ideal

Coral Springs Major Employers Geographic location Commute
Office Market Datay Demographics Total Office (SF) 5,124,278 Household Median Income $63,299 Office Vacancy 12.5% Median SFH Value $184,900 Average Rent (PSF) $22.67 % Working Population 45% Available (>50k SF) 1 Permitting - New N/A Geographic location 11 Commute Public Trans. “LWP” Major Employers Company Sector First Data Financial Services Broward Health Healthcare ABB Industrial State Farm Insurance Convergys Telecommunications Housing Cost Growth Proximity Permitting Existing Municipality Incentives Perception Challenging Acceptable Ideal

State Farm Bldg 5601 Hiatus Rd Coral Springs, FL
11 State Farm Bldg 5601 Hiatus Rd Coral Springs, FL Availability Immediate RSF (avail) 100,000 RSF (in bldg.) Floors (avail) 2 Floorplate(s) 50,000 Base Rent (Opex) $17.00 ($10.00) Parking 9.68/1,000 Location and park setting are average but building was constructed with redundancy and to withstand major storm. Large floorplates of 50,000 SF on raised floor with plenum. State Farm lease for 50,000 SF runs through early 2017 and other tenant through 2018 with option to extend. Commentary Geographic location Commute Transit Food Services Great access to current employee population Access to Sawgrass Expressway is very good Food and service options in immediate area are limited Residential options in area are good but not good LWP option Excellent window line and efficient floorplate Signage rights offered Entire building may be available Ability to brand the building and premises Good major storm redundancy Parking of over 9.68/1,000 Purchase is possible Facility Floorplate Expansion Flexibility Public space “Feel” Parking Problem Acceptable Ideal

Boca Raton Major Employers Geographic location Commute Public Trans.
Office Market Datay Demographics Total Office (SF) 11,345,988 Household Median Income $68,738 Office Vacancy 17.6% Median SFH Value $205,000 Average Rent (PSF) $28.73 % Working Population 35% Available (>50k SF) 5 Permitting - New N/A 12 13 14 Geographic location Commute Public Trans. “LWP” Major Employers Company Sector Tyco Technology Office Depot Retail Jarden Consumer Goods ADT Security GEO Group Criminal Justice Housing Cost Growth Proximity Municipality Permitting Existing Flexibility Incentives Perception Challenging Acceptable Ideal

Boca Raton Zip Code Map Directors and Above 7 Employees 25 Employees

Applied Card Systems 5401 Broken Sound Blvd NW Boca Raton, FL
12 Applied Card Systems 5401 Broken Sound Blvd NW Boca Raton, FL Availability Immediate RSF (avail) 66,905 RSF (in bldg.) Floors (avail) 3 Floorplate(s) 23,000 Base Rent (Opex) $16.50 ($10.00) Parking 4.67/1,000 Building just purchased by private investment group with goal to reposition and lease but may consider sale. Boca offers good LWP options and residential options to the north and west offer affordable homes. Good LWP option. Commentary Geographic location Commute Transit Food Services Good access to major roads and I-95 Food and services options abundant within 2 miles Good window line and efficient but smaller floorplate Signage rights offered Entire building available Ability to brand the building and premises Possible purchase option Facility Floorplate Expansion Flexibility Public space “Feel” Parking Problem Acceptable Ideal

Boca Innovation Campus 4530 Conference Way S Boca Raton, FL
13 Boca Innovation Campus Conference Way S Boca Raton, FL Availability Immediate RSF (avail) 143,133 RSF (in bldg.) 80,000 Floors (avail) 1 Floorplate(s) Base Rent (Opex) $13.50 ($9.90) Parking 5/1,000 Original manufacturing home of the IBM PC. Diverse options from space in the multi-story office component to the single story sections. Project has been owned by Blackstone for over 10 years. Home to a number of large regional companies. Commentary Geographic location Commute Transit Food Services Great access to I-95 and major east-west roads in Boca Raton Located on the far north end of the current employee population Very good food and retail within 1-2 mile radius Over 1.5 million SF complex Average window line but efficient floorplate Signage rights offered Entire building available Ability to brand the building and premises Aggressive cost option Facility Floorplate Expansion Flexibility Public space “Feel” Reputation Problem Acceptable Ideal

Boca Innovation Campus 4700 Exchange Ct Boca Raton, FL
14 Boca Innovation Campus Exchange Ct Boca Raton, FL Availability Immediate RSF (avail) 132,000 RSF (in bldg.) 301,221 Floors (avail) 1 Floorplate(s) 84,000 Base Rent (Opex) $16.50 ($9.90) Parking 5/1,000 Original manufacturing home of the IBM PC. Diverse options from space in the multi-story office component to the single story sections. Project has been owned by Blackstone for over 10 years. Home to a number of large regional companies. Commentary Geographic location Commute Transit Food Services Great access to I-95 and major east-west roads in Boca Raton Located on the far north end of the current employee population Very good food and retail within 1-2 mile radius Over 1.5 million SF complex Good window line and efficient floorplate Signage rights offered Aggressive cost option Good flexibility for growth/expansion Facility Floorplate Expansion Flexibility Public space “Feel” Reputation Problem Acceptable Ideal

Facility Talent Impact Map

Rating of Alternatives
Decision Matrix Weighting Sunset Plaza Sawgrass Court (Saw Ban Bldg) Sawgrass Lake Center Sawgrass Pointe Cornerstone 3 American Express Pembroke Pointe Monarch Lakes DCOTA Citrix Building (Cypress Creek) State Farm Bldg Applied Card Systems Boca Innovation Campus Floor Plate 20% N/A 1 4 5 3 2 Location Quality 15% Parking Cost Feel 10% Total Weighted Score (out of 5) 2.60 3.05 3.55 3.80 3.00 3.85 1.85 3.35 3.70 3.25 3.45 Comment Rejected - Recent lease - only has 42,000 available Rejected - floorplate configuration Rejected - Proximity to AMEX negatively impacts location Rejected -Proximity and parking are of concern New BTS development. Location is good - RFP sent Rejected - Senior management did not like feel or floor plates. New BTS development. Location is average- RFP sent Rejected - Site and portfolio are selling - timing uncertain Rejected - floor plates and general mixed use nature of property Location is OK, facility needs major work but good floor paltes - RFP sent Location is good and parking is great. Feel is question but good option - RFP sent Location is question but park setting is good, floorplate & configuration is good- RFP sent Location is question, space within large park with good feel and good floorplates - RFP sent Scale - 1 to 5 with 5 being the best

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