Avian Pointe |Fully-Entitled, 480-Unit Multi-Housing Development

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Avian Pointe |Fully-Entitled, 480-Unit Multi-Housing Development FULLY-ENTITLED, 480-UNIT MULTI-HOUSING DEVELOPMENT AVIAN POINTE | SITE IN FAST-GROWING APOPKA (ORLANDO), FLORIDA AVIAN POINTE THE OFFERING Property Overview – Parcel B2 Address: 2995 Peterson Road, Apopka, FL 32703 Holliday Fenoglio Fowler, L.P. is pleased to exclusively offer an exceptional Municipality: Orange County investment opportunity to acquire Avian Pointe (the “Property” or “Site”), Parcel ID: 07-21-28-0000-00-002 a 30-acre development site fronting State Road 429, just south of U.S. Site Area: 30.912 Acres Highway 441 in the high-growth Orlando bedroom community of Apopka, Max Density: 480 Units Florida. Looking ahead, the Apopka region is poised to display accelerated growth upon the completion of the Wekiva Parkway Extension (scheduled Use / Zoning: Multifamily / PD R-1 for 2022) – a 27-mile expressway which will complete the Central Florida Stories / Maximum Height: Four / 50 Feet Beltway encircling the Orlando MSA, enabling Apopka residents to commute seamlessly to highly-coveted areas in Seminole County including Lake Mary, Heathrow, and Sanford, which collectively possess nearly 10 million square feet of office space (roughly the same amount as INVESTMENT HIGHLIGHTS Downtown Orlando), and are home to major high-wage employers including Deloitte, Verizon, AAA, JPMorgan Chase, BNY Mellon, and LOCATED IN THE DIRECT PATH OF GROWTH IN WEST Convergys, among others. ORLANDO The Site is fully-entitled for 480 apartment units, and represents one PRIME FRONTAGE & VISIBILITY ALONG SR 429; parcel (B2) within the larger Avian Pointe master-planned community ADVANTAGEOUSLY SITUATED IMMEDIATELY SOUTH OF THE (127-acre land assemblage), which possesses full-entitlements for 56 NEW WEKIVA PARKWAY EXTENSION single family homes, 222 townhomes, in addition to another +/- 20 acres of recreational and mixed-use space which allow for a school, boutique hotel, professional office, senior living facility, as well as centralized FULL ENTITLEMENTS IN-PLACE FOR 480 UNITS community amenities such as a resort-style pool, playground, dog park, and a variety of sports fields. Investors may view parcel B2 as two 240- unit development sites, rather than a single 480-unit project. A development agreement requires that a new access road be developed in HIGH-GROWTH LOCALE WITH PRIME RENTER phases to provide connectivity to and from West Orange Avenue, and also DEMOGRAPHICS allows for directional signage at both Orange Avenue to the north and Lust Road to the south. ROBUST APARTMENT FUNDAMENTALS BUOYED BY ORLANDO’S NATION-LEADING MACROECONOMY Executive Summary | 2 AVIAN POINTE Lake Apopka AVIAN POINTE $1.6B, 27-mile expressway representing the final link in the Central Florida Beltway Lake Mary / Sanford N encircling Metro Orlando Office Parks Slated for completion in 2022 9.2M SF Office Space Within 15-20 min. drive time of Apopka upon completion of Wekiva Parkway extension Wekiva Springs Mid Florida Logistics Park State Park Under Construction Class A Industrial Business Park 2.4M SF 330K SF Goya Foods Distribution Center Slated to open 2020 The Coca-Cola Company 16-acre production facility Maitland Center 20K SF R&D Facility Expansion by 2020 Office Market AVIAN POINTE 7.5M SF Office Space Downtown Orlando +/- 50,000 Jobs 10.5M SF Office Space AdventHealth Apopka 15 min. drive time +/- 78,000 Jobs 120-bed hospital campus | 700+ Jobs 25 min. drive time 80 add’l beds anticipated by 2019 Lake Apopka Executive Summary | 4 AVIAN POINTE PLENTIFUL EMPLOYMENT IN THE IMMEDIATE AREA AdventHealth Apopka AdventHealth Apopka Located 2.5 miles SE of Avian Pointe, the newly-constructed $200 million AdventHealth Apopka medical campus features 120 private patient rooms (with 80 additional beds expected by year end 2019), advanced surgical suites, a diagnostic heart-catheterization lab, and expanded women’s services. The campus provides high-wage jobs to roughly 700 employees. Coca-Cola Company Coca-Cola (NYSE: KO) is expanding its research and development facilities by +/- 20,000 square feet at their existing 16-acre Apopka facility, which is located less than 0.5 miles N of Avian Pointe along W. Orange Avenue. This expansion is expected to open in early 2020. Coca-Cola is also reportedly exploring additional space in the neighboring Mid-Florida Logistics Park, which could result in an additional facility for them. Coca- Mid-Florida Logistics Park Cola currently employs more than 1,700 workers in the area. Goya Foods New Jersey-based Goya Foods Inc., the largest Hispanic-owned food company in the US, has confirmed they are acquiring 40 acres in the Mid- Florida Logistics Park, located less than 0.5 miles NW of Avian Pointe where they will build a $42 million, 330,000 square-foot distribution center, which is expected to be completed in mid-2020. The current Central Florida Goya plant employs 105 people and is maxed out in its 135,000 square-foot facility. This could have a major economic impact on Apopka, as Goya has reported double-digit sales growth over the past decade while nearly doubling its product portfolio. Executive Summary | 5 AVIAN POINTE APOPKA – EXPERIENCING UNPRECEDENTED GROWTH Apopka, Florida, is a fast-growing bedroom community of Orlando, situated just 10 miles northwest of downtown, and is the second largest city by land A number of current and recently completed area (encompassing nearly 25 square miles) in Orange County behind the developments / infrastructure investments are re- City of Orlando. Apopka is a short drive from a number of the MSA’s major shaping Apopka, squarely aligning Avian Pointe within employment centers, destination retail enclaves and attraction areas, the direct path of growth in western Orlando. Recent affording residents convenient connectivity to the Greater Orlando region noteworthy projects taking place in Apopka include: with the presence of the new Western Beltway (SR 429), in addition to major travel arteries including Interstate 4, Semoran Boulevard (SR 436), and • $1.6 billion Wekiva Parkway Expansion Orange Blossom Trail (US 441). (slated for completion in 2022) Apopka is widely known as one of Central Florida’s top destinations for outdoor recreation, offering a beautiful landscape of lakes, springs and • $203 million, 120-bed AdventHealth Apopka natural land areas. Notable natural attractions include Lake Apopka (the medical center (opened 2017) fourth largest lake in Florida), a major ecotourism destination whose wildlife area hosts a record-breaking 365 species, in addition to the popular 7,000- • $100+ million, 35-acre Apopka City Center acre Wekiwa Springs State Park, featuring over 13 miles of trails for hiking, mixed-use development (broke ground in bicycling, and horseback riding, as well as canoeing and kayaking along with 2018) Wekiwa River and Rock Springs Run. • City of Apopka is pumping more than $2 SKYROCKETING POPULATION FIGURES million into revitalizing the downtown district, Given Apopka’s high quality of life, easy commute to major Orlando resurfacing parking lots and store facades employment and lifestyle drivers, beautiful scenery, and affordable nature, the locale has continued to experience unprecedented levels of population • City of Apopka is investing $60 million into growth in recent years. In fact, the Property’s 5-mile population count has improving capacity for it’s wastewater skyrocketed by 22.6% since 2010 to it’s current level of over 79,300 treatment facility residents – nearly 3.5 times the average U.S. growth rate over the same timespan. The 5-mile area surrounding the Property is projected to grow by • Two new fire stations (No. 5 and No. 6) were an astonishing 9.2% by 2024, according to Environics Analytics, continuing to built in 2018 to reduce response times far outpace MSA, state and national growth rates. Executive Summary | 6 AVIAN POINTE Apopka City Center Renderings Executive Summary | 7 AVIAN POINTE $1.6B, 27-mile expressway ROBUST SINGLE-FAMILY representing the final link in HOME DEVELOPMENT the Central Florida Beltway IN THE IMMEDIATE encircling Metro Orlando VICINITY Slated for completion in 2022 1 Bridal Path (Planned) 1 150 Single-Family Homes BurnBrae Companies Pricing: TBD 2 Carriage Hill New Construction | Single-Family Homes KB Home 2 Pricing: $280,000+ 3 Lakeside (Under Construction) 301 Single-Family Homes AV Homes 4 AVIAN POINTE 5 Pricing: TBD Vistas at Waters Edge New Construction 147 Single-Family Homes M/I Homes Crossing at Emerson Park 5 Pricing: $310,000+ 4 New Construction | Townhomes 3 Centex Pricing: $215,000+ Executive Summary | 8 AVIAN POINTE An extension of State Road 429, the Wekiva Parkway is a 27-mile Thirteen miles of the expressway were opened to traffic in Orange and expressway that represents the final link in the Central Florida Beltway Lake counties in spring of 2018, and the remainder is scheduled to encircling Metro Orlando. It is scheduled for completion in 2022. open to traffic in 2022. Authorized in 2004 by the Wekiva Parkway and Protection Act, the This expressway expansion is significant in that it will allow for Apopka expressway is a joint project between CFX and the Florida Department residents to seamlessly commute to areas in Seminole County of Transportation. It was designed as a scenic passageway through including Lake Mary, Heathrow and Sanford, which collectively possess rolling countryside and the environmentally sensitive Wekiva River nearly 10 million square feet of office space (roughly the same amount Basin area. The expressway includes elevated sections and habitat as Downtown Orlando), and are home to major high-wage employers corridors that separate wildlife from vehicle traffic and features an including Deloitte, Verizon, AAA, JPMorgan Chase, BNY Mellon, and expansive crossing over the picturesque Wekiva River en route to Convergys, among others. Many of these employers will be within a 15 linking up with SR 417 (Central Florida Greenway) and Interstate 4 in to 20 minute drive time upon completion of the Wekiva Parkway. northwest Seminole County.
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