OFFERING MEMORANDUM

SOUTH TAMPA MULTIFAMILY SITE TAMPA, FL 33616

RYAN SAMPSON, CCIM, ALC JACK KOEHLER, CCIM Principal Broker Associate D. 813.287.8787 x4 D. 813.287.8787 x9 M. 813.417.5928 M. 813.541.4156 [email protected] [email protected] Executive Summary

PROPERTY DESCRIPTION Waterside Preserve is one of, if not the largest remaining 'A+" sites in South Tampa, fully entitled for up to 624 multifamily units. This pristine 26-acre site offers developers the unique opportunity to incorporate natural, picturesque features, such as the property's three lakes, into an infill development. Lakes of this size, especially for infill apartment sites, are virtually unheard of in the Tampa Bay market. Centrally located in South Tampa, there are significant barriers to entry for future competing developments.

The site could be phased or developed as one larger project. The wetlands have been delineated through the Southwest Florida Water Management District, which is in the process of being extended for five more years. Additional documentation available upon request including traffic survey, tree survey, topographic survey, and boundary survey.

PRIME LOCATION Located at 7210 Interbay Boulevard in exclusive South Tampa, this site offers excellent access to major employment centers such as MacDill Air Force Base, Westshore Business District, and Downtown Tampa. Future residents will also be 25-minutes or less from amenities, entertainment and shopping districts such as Downtown St. Petersburg, Tampa International Airport, Westshore Plaza, International Plaza, Raymond James Stadium (Home of the Buccaneers), Amalie Arena (Home of the Lightning), Picnic Island Park, Hyde Park, Seminole Heights, Ybor City, Florida State Fair Grounds, Hard Rock Hotel & Casino, and countless other destinations.

ZONING RM-24, Entitlements in place for up to 624 Multifamily Units.

TAMPA MARKET INFORMATION Since the market crash of 2008, Tampa Bay has rebounded tremendously to become the third largest MSA in the Southeast with an estimated population of over three million. That population is expected to reach 3.3 million within the next five years. Over the last twelve months alone, the Tampa Bay region has added approximately 30,400 jobs. Major employers in the area include Tampa International Airport and Port Tampa Bay (both within 20-minutes of this site) which combined, contribute $22.5 billion annually to the local economy and support 160,000 jobs. Other major employers in the area include Publix Super Markets (37,250), BayCare Health System (26,900), MacDill Ar Force Base (18,000), Tampa General Hospital (6,769), Citigroup (5,600), and Raymond James Financial (4,437). With an employment growth rate far outpacing the national average and future growth predictions expected to remain strong, the increasing demand for multifamily is continue for the foreseeable future. Annual effective rent growth as of June 2018 was 4.5% with a forecasted occupancy rate of 95.5% through 2020.

SOUTH TAMPA Located at the nexus of Downtown Tampa and Westshore, South Tampa is uniquely positioned to offer prospective tenants an urban lifestyle with quick access to the metro's prime employment and entertainment nodes. South Tampa has seen increased multifamily development with over 1,200 units delivered since 2014. As gentrification rapidly progresses throughout South Tampa, developers are targeting an array of renter types such as Millennials, "empty nesters", suburbanites, and seniors looking to downsize and move closer to the urban core. With increasing rental demand and diminishing land availability on the South Tampa peninsula, 'A+' sites such as this are few and far between.

CALL FOR OFFERS Offers due to Broker by 5 PM on April 4th, 2019. Offers to be submitted through Seller's form contract.

7210 INTERBAY BLVD // TAMPA, FL 33616 2

ESHENBAUGH LAND COMPANY // 304 S. WILLOW AVENUE, TAMPA, FL 33606 // THEDIRTDOG.COM Proximity to Employment Centers and Shopping

7210 INTERBAY BLVD // TAMPA, FL 33616 3

ESHENBAUGH LAND COMPANY // 304 S. WILLOW AVENUE, TAMPA, FL 33606 // THEDIRTDOG.COM Proximity to Existing Multifamily

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ESHENBAUGH LAND COMPANY // 304 S. WILLOW AVENUE, TAMPA, FL 33606 // THEDIRTDOG.COM

Renderings of Proposed Apartments

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ESHENBAUGH LAND COMPANY // 304 S. WILLOW AVENUE, TAMPA, FL 33606 // THEDIRTDOG.COM Proposed Site Plan

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ESHENBAUGH LAND COMPANY // 304 S. WILLOW AVENUE, TAMPA, FL 33606 // THEDIRTDOG.COM Property Survey

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ESHENBAUGH LAND COMPANY // 304 S. WILLOW AVENUE, TAMPA, FL 33606 // THEDIRTDOG.COM INCOME

$63,312 $46,592 $64,865 Median Household Per Capita Income Median Net Worth Income

KEY FACTS

200000+

125,124 37.9 150000-199999 Population

Median Age 100000-149999

75000-99999 57,059 $53,461 Median Disposable Income Households 50000-74999

EDUCATION 35000-49999 EMPLOYMENT

25000-34999 77% 7% White Collar 15000-24999 10% 3.1% No High 23% School 0-14999 Blue Collar Some College Diploma 19% 50% Unemployment Rate High School Bachelor's/Grad/Prof 0 4,000 8,000 14% Degree Graduate HOUSEHOLD INCOME Services Selmon Expressway Extension

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ESHENBAUGH LAND COMPANY // 304 S. WILLOW AVENUE, TAMPA, FL 33606 // THEDIRTDOG.COM Confidentiality & Disclaimer

All materials and information received or derived from Eshenbaugh Land regarding the veracity, completeness, or relevance of any financial data or Company, LLC its directors, officers, agents, advisors, affiliates and/or any third assumptions. Eshenbaugh Land Company, LLC does not serve as a financial party sources are provided without representation or warranty as to completeness advisor to any party regarding any proposed transaction. All data and , veracity, or accuracy, condition of the property, compliance or lack of assumptions regarding financial performance, including that used for financial compliance with applicable governmental requirements, developability or modeling purposes, may differ from actual data or performance. Any estimates of suitability, financial performance of the property, projected financial performance market rents and/or projected rents that may be provided to a party do not of the property for any party’s intended use or any and all other matters. necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as Neither Eshenbaugh Land Company, LLC its directors, officers, agents, advisors, well as market conditions,vacancy factors and other issues in order to determine or affiliates makes any representation or warranty, express or implied, asto rents from or for the property. accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, Legal questions should be discussed by the party with an attorney. Tax questions that may be furnished for review are not a substitute for a party’s active conduct of should be discussed by the party with a certified public accountant or tax its own due diligence to determine these and other matters of significance to such attorney. Title questions should be discussed by the party with a title officer or party. Eshenbaugh Land Company, LLC will not investigate or verify any such attorney. Questions regarding the condition of the property and whether the matters or conduct due diligence for a party unless otherwise agreed in writing. property complies with applicable governmental requirements should be EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND discussed by the party with appropriate engineers, architects, contractors, other DUE DILIGENCE. consultants and governmental agencies. All properties and services are marketed by Eshenbaugh Land Company, LLC in compliance with all applicable fair housing Any party contemplating or under contract or in escrow for a transaction is urged and equal opportunity laws. to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by Eshenbaugh Land Company is a licensed real estate brokerage firm in Florida and such party. All financial data should be verified by the party including by obtaining William A. Eshenbaugh is the broker of record. and reading applicable documents and reports and consulting appropriate independent professionals. Eshenbaugh Land Company, LLC makes no warranties and/or representations

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ESHENBAUGH LAND COMPANY // 304 S. WILLOW AVENUE, TAMPA, FL 33606 // THEDIRTDOG.COM