Final circus newsletter by The Mall at University Town Center

WELCOME TO 2016 As we embark on a new year at The Mall at UTC, I’d like to congratulate you and your sales associates on a very successful 2015. We had an amazing first year and learned many lessons along the way. Due to unusual weather conditions, December sales were slightly down from last year. Warmer weather conditions hindered retail sales in most regions of the country. This also delayed tourists and snowbirds from visiting or relocating to the Sarasota/Bradenton area. Moving into 2016, I’m excited we will all have comparable sales figures and for some, traffic counts. This data will truly assist us with analyzing sales trends and the ability to plan accordingly. Many managers have contacted me over the closing of several stores. Since opening, UTC had seven store closures. However, keep in mind, three of the stores closed nationally; we opened 19 stores in 2015 and 24 since the grand opening. UTC’s occupancy is better than anticipated and we are thrilled to announce four new tenants - Tricho Salon, Refinery, Capital Teas and Hugo Boss. Tricho Salon and Refinery are under construction and we are anticipating that the remaining two tenants will follow suit soon. Our leasing department is constantly working on acquiring additional tenants and improving the tenant mix at The Mall at UTC. We’ve recently finalized our 2016 advertising plan and continue to develop new initiatives that will ultimately drive traffic and increase sales at the center. We appreciate your partnership and the tremendous role each of you have in making The Mall at UTC the premier shopping destination. Lastly, with the tremendous growth in the area, new UTC tenants, and Benderson Development additions (peripheral properties), we’re looking forward to a very successful 2016. Sincerely, B E T H E C E N T E R O F AT T E N T I O N

Octavio “Tav” Ortiz General Manager

MARKET OUTLOOK

Sarasota-Bradenton economy continues to exhibit strong growth. Consumer spending, housing and demographics are growing at 4.5 percent per year in Sarasota, while Manatee is experiencing a similar trend, up 4.4 percent. Unemployment rates for the region dropped to 5.0% vs. 5.8% in 2014, which appears to be aligned with Florida state trends. The market is in the midst of another building boom, however, low unemployment rates, low pay and the lack of Millennials in the market are causing an ever growing strain on local employers.

TOURISM Sarasota County welcomed more than 1 million visitors in paid lodging to the area in 2015. Hotel occupancy rates hit a record 72% last year while average daily room rates increased by 6% to $159.61. Overall, tourism in Sarasota County brings about 4.5 million visitors per year with an economic impact of nearly $2 billion. In Sarasota County, the local sports commission in fiscal year 2015 sponsored 112 events, generating more than $144 million in economic impact and 101,310 room nights, all double-digit increases from the previous year.

LUXURY SHOPPER The luxury home market is soaring and it surrounds the Mall at University Town Center. Luxury home pockets are being sought after in Lakewood Ranch, Longboat Key, downtown Sarasota, West Bradenton, and South Sarasota. Downtown Sarasota is booming with luxury condo projects underway with starting sale prices in the multi-millions. Although these luxury shoppers desire perfection, they continue to desire personal anonymity and maintain their understated lifestyle.

MARKETING CAMPAIGN The Mall at UTC’s 2016 advertising campaign goal is to penetrate key consumer segments utilizing traditional and digital media, as well as, several grass root programs. UTC’s creative campaign will be an extension of the Phase 11 creative program launched in the latter part of 2015, with the focus of the shopper being at “The Center of Attention.” Marketing emphasis in 2016, will look to take a deeper dive into the tourism market by broadening our partnerships with event planners, tour operators, SRQ, sports facilities, and vacation rentals. We will look to launch several new programs that target specific areas of tourism. For example: Collegiate Passport Program, rental car and Uber initiatives, a rain check program with area hotels, partner appreciation events, and much more. The marketing department is committed to continuous collaboration with our UTC tenants. It is always the team’s objective to seek out opportunities that offer additional brand exposure for UTC tenants within the community.

MARKETING PARTNERSHIPS Sarasota Circus ABC7 Trip Giveaway Heart Health Month - LWR Medical

MEDIA PLAN

Sarasota Film Festival iConcept - Arts Center Sarasota Nathan Benderson Park - Collegiate Program Ringling Bridge Run

The campaign utilizes multiple media channels including: print, digital, radio, social, and outdoor.

Kipsu uses real-time digital communication channels, such as SMS, internet chat and social messaging, to help The Mall at UTC connect more deeply with our shoppers. As an industry leader, they have recognized that consumers are becoming increasingly conditioned to going online to tell the world about their experiences, whether good or bad. Kipsu provides a familiar and frictionless medium, a private social network if you will, to engage customers in the moment. In turn, they make it easier than ever to initiate requests and overcome frustrations, all while preserving the authentic human connection at the heart of exceptional service. Kipsu has significantly improved social reviews and survey scores. For questions or comments, please contact Kristina Sparacino at Ksparacino@taubman.com or 941-552-7010.

Sales and Promotions ‘In the Palm of your Hand’ - StepsAway is a cutting-edge platform that enables mall-based retailers to create and dynamically deliver hyper-local, time-sensitive offers and promotions to smartphones over a mall’s free Wi-Fi network - StepsAway from their favorite store. Using the patent pending cloud-based software, retailers can now ‘push’ offers to specific malls and consumers can ‘pull’ customized offers at the touch of a screen. They provide a solution to increase sales productivity and a retailer’s answer to drive transactions at the closest point of purchase: StepsAway from your leaseline. For questions or comments, please contact Kristina Sparacino at Ksparacino@taubman.com or 941-552-7010.

MARKETING OPPORTUNITIES: NON-PAID/PAID NON-PAID

PAID

Website Marketing: MallatUTC.com provides a plethora of information at our customer’s fingertips. A page on the website is dedicated to your store. This is why it is very important to return the Store Information Sheet (Exhibit M=A from your Merchant Manual) to the Management Office.

TMMI: Taubman Mall Media Impact A wide variety of high impact in-mall advertising formats are available including ceiling banners, door clings, elevator wraps, standees, etc. For more information and to receive a detailed media guide with pricing, contact Kim Dominguez at 941-552-7031 or kdominguez@taubman.com.

Complete the Store Update form (Exhibit M-C from your Merchant Manual) or find a copy located in the Management Office. For questions or concerns, please contact Pam Flotron at 941-552-7011. Facebook: The shopping center maintains a Facebook profile on a daily basis. Topics range from fashion tips and events to store sales. You can find our page at Facebook.com/MallatUTC. Facebook content is gathered from our website, so be sure to participate with the above for consideration in our Facebook schedule. Passport to Shopping Tourism Program: Targets domestic and international tourist shoppers. Tourists are qualified as shoppers who live 50 miles away or more from UTC. Area hotels, country clubs, property management companies, and colleges refer their guests to our Customer Service Desk to receive these special savings.

Passport to Shopping: Paid advertising opportunities are available in the Passport program. Please contact Kim Dominguez at 941-552-7031 or kdominguez@taubman.com. Email Program: The Mall at UTC eblasts are deployed to over 75,000 subscribers regularly throughout the year. The email program provides an opportunity to share information with customers, drive traffic to the center, and to your store. Please contact Kim Dominguez at 941-552-7031 or kdominguez@taubman.com. Facebook Promoted Posts: We will offer promoted posts to our tenants in 2016 - Stay tuned for details! Center Takeovers: Take over Center Court for a day for $1,000 to $3,000! Please contact Kim Dominguez at 941-552-7031 or kdominguez@taubman.com.

LEASING Need some additional space? Looking to highlight a new product? Showcase a new line? • Think outside of your store. • We provide the cart, you provide the art. • Short term or long term, we offer flexible lease terms to fit your marketing needs. • Our team can tailor a plan to increase sales and drive traffic to your store. Contact Julia DeCastro at 941-552-7008

2016 BENDERSON EVENTS February 2.4 - 2.9 | US Rowing Referee College II 2.20 | Color Vibe 5k Run 2.12 - 2.28 | Circus Sarasota Winter Show 2.27 - 2.28 | Sarasota Invitational Regatta

SECURITY “See Something, Say Something Campaign” Suspicious activity is any observed behavior that could indicate criminal action. • Unusual items or situations: A vehicle is parked in an odd location, a package/luggage is unattended, a window/door is open that is usually closed, or other out-of-the-ordinary situations occur. • Eliciting information: A person questions individuals at a level beyond curiosity about a building’s purpose, operations, security procedures and/or personnel, shift changes, etc. • Observation/surveillance: Someone pays unusual attention to facilities or buildings beyond a casual or professional interest. This includes extended loitering without explanation (particularly in concealed locations); unusual, repeated, and/or prolonged observation of a building (e.g., with binoculars or video camera); taking notes or measurements; counting paces; sketching floor plans, etc. (www.dhs.gov) The purpose of the “See Something, Say Something” campaign is to identify those behaviors that could lead to a crime being committed. Immediate notification could help apprehend a criminal. Notify Security for any suspicious activity at 941-552-7001 or Dial 9-1-1 for emergency situations. If you have further questions or concerns, please contact: John Bartosiewicz, Security Director at 941-552-7018 or utc.mall@universalpro.com.

FACILITIES & STORAGE January was national Radon awareness month. Radon is a naturally occurring, odorless, tasteless, colorless gas that is generated when radium decays with in most soils. Radon is the second leading cause of lung cancer in the U.S. Approximately 22,000 people will develop lung cancer annually due to over exposure to this gas. There is however a simple way to ensure your home is not hiding this potential deadly gas. Purchase and use a test kit. These kits are as little as $10 each that includes lab analysis of your sample taken from your home. You can also purchase a monitor, similar to a smoke detector, that will alert you if a high level is detected. Most mitigation is easily performed if high levels are found. The FL department of Health estimates that 1 in 5 Florida homes have elevated levels of radon gas. For more information visit: http://www.floridahealth.gov/environmental-health/radon/

2016 UTC EVENTS & PROMOTIONS JANUARY APRIL SEPTEMBER 1.4 - 1.31 | Circus Sarasota GWP 4.9 - 4.17 Tour of Homes 1.16 | Ringling Bridge Run Sarasota Tennis Open 1.23 | Walk & Talk 4.1 - 4.10 | Sarasota Film Festival OCTOBER 4.20 - 5.31 | ABC7 Sweeps Breast Cancer Awareness FEBRUARY 4.19 | UTC hosts the Hotel 10.8 - 10.9 | World Super Cross 2.1 - 2.28 | Circus Sarasota GWP Committee Meeting BMX Event 2.1 - 2.29 | Heart Health Month 10.20 | Gettel Event 2.6 | Love the way you look MAY 2.11 - 2.17 | Gettel Showcase Mother’s Day Promotion NOVEMBER 2.20 | Walk & Talk Graduation Promotion Ice Palace & Holiday Experience 2.21 | iConcept Fashion Show in National Tourism Week Magical Weekend Saks Court of Shopping 2.23 | Tenant Meeting at Circus JUNE Holiday Gift with Purchase Sarasota Father’s Day Promotion Holiday Tenant Meeting MARCH 3.10 | Gettel Event 3.19 | Walk & Talk 3.13 | Partner Appreciation Event

JULY Tenant Meeting AUGUST Back-to-School Promotion 8.4 | Gettel Event

DECEMBER Ice Palace & Holiday Experience Magical Month of Shopping Holiday Gift with Purchase Santa Paws

REMINDERS

1. USPS Reminder: Please make sure you pick up your mail from your mailbox. 2. Temporary storage units available for rent. Contact Pam Flotron at 941-552-7011 for any questions. 3. If you have a new manager/assistant manager, please come in to the MMO or Security to complete the Emergency/Code Red form and confirm manager listing on mallatutc.com

MANAGEMENT TEAM OCTAVIO ORTIZ KIMBERLY DOMINGUEZ GREGG SMITH JULIA DECASTRO MAUREEN MARHOLD KRISTINA SPARACINO PAM FLOTRON SUSAN ROGERS NORMAN MILLER CARI HODGE ROBERT HANCHEY JOHN BARTOSIEWICZ STEVE DEAN

GENERAL MANAGER MARKETING & SPONSORSHIP DIRECTOR FACILITIES DIRECTOR SPECIALTY LEASING AGENT FACILITIES SUPERINTENDENT MARKETING & SPONSORSHIP SPECIALIST MANAGEMENT ASSISTANT FINANCIAL ASSISTANT HOUSEKEEPING MANAGER CUSTOMER SERVICE MANAGER VALET MANAGER SECURITY DIRECTOR ASSISTANT SECURITY DIRECTOR

140 UNIVERSITY TOWN CENTER DRIVE | SARASOTA, FLORIDA 34243 EMERGENCY SECURITY | 941.552.7001