Puckett's Creek Sanctuary

For Sale > Multifamily Land Puckett’s Creek Sanctuary 2630 State Road A1A, Atlantic Beach, FL 32233 24.5± AC Available

Mayport Coastal Sciences Middle School

Seaside Community Charter School Heron Pointe Promenade at Mayport Apartments

Old Mayport Rd

Property Features

>>24.5-acre multifamily development site >>Upland area totals 20± acres >>Zoned PUD Residential Medium Density (up to 20 UPA) >>Submittal of PUD application + site plan approval required >>Property located within the highly desirable Beaches submarket >>Beaches Product (1 to 5 years) ~ $1.77 Avg. p/SF Rental Rate >>Beaches Class “A” Product Overall ~ $1.28 Avg. p/SF Rental Rate Source: http://www.parkcrestlandings.com/

>>Beaches submarket currently 96% occupied Colliers International Colliers International Land Advisory Group Multifamily Advisory Group >>Beaches submarket annual rental rate growth ~ 4.8% >>Pricing Guidance ~ $14,500 per unit >>Pricing includes pre paid concurrency/mobility fees.

Bradley Coe, MBA, MRE Douglas Blair, MSW COLLIERS INTERNATIONAL 904 358 1206 | ext 1158 904 358 1206 | Ext 1101 NORTHEAST FLORIDA jacksonville, fl 32202 jacksonville, fl 32202 50 N. Laura Street, Suite 1725 [email protected] [email protected] Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Area Map 2630 State Road A1A, Atlantic Beach, FL 32233

Mayport Naval Station

St. Johns River

Hanna Park Recreation Area

Wonderwood Dr Ocean Blue Apartments Under Development

Newly Developed Anthem Lakes Assisted Living

Re-Developed Buchaneer Beach 108- Single Family Lots Re-Developed Atlantic Beach Golf & Country

Club Intracoastal Waterway Intracoastal

Atlantic Blvd

COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Wetland Map 2630 State Road A1A, Atlantic Beach, FL 32233

Subject Property

2016 True Color Orthophotos From Florida DOT

Ditch / Open Water Area Approximately 1/2 Acre Upland Area Approximately 19-1/2 Acres Wetlands Approximately 4-1/2 Acres

. Preliminary Wetland Assessm e n t 2016 True Color Orthophoto 1 inch = 200 feet State Road A1A Property Jacksonville, Duval County, Florida 0 200 400 2016-100 September 28, 2016 Feet

This exhibit is the result of preliminary wetland assessment based on aerial photography interpretation only with no ground-truthing. It is intended for informational purposes only. This exhibit should not be used for detailed site planning. Wetland boundaries can 14785 Old St. Augustine Road, Suite 4 more accurately be determined by field delineation, location by survey and review Jacksonville, Florida 32258 approval by the regulating agencies. (904) 288-8631 COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Area Map 2630 State Road A1A, Atlantic Beach, FL 32233

Demographics Snapshot 5 Mile 10 Mile 15 Mile Demographics Snapshot 5 Mile 10 Mile 15 Mile

Population 2016 Estimate 7,400 33,040 93,801 Households 2016 Estimate 2,891 12,098 35,953

Population 2021 Projection 7,394 34,011 98,401 Households 2021 Projection 2,911 12,504 37,816

Average Age 39.3 38.3 38.6 Owner Occupied 1,378 7,364 24,320

Employees 2016 Estimate. 2,907 13,696 44,939 Renter Occupied 1,513 4,735 11,633

Unemployed 2015 Estimate. 541 1,450 4,024 Estimate Average HH Income $60,747 $88,248 $86,431

Source: The Nielsen Company

COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Hanna Park 2630 State Road A1A, Atlantic Beach, FL 32233

Hanna Park’s pristine beaches have played a proud role in Florida’s rich history as an inviting destination for relaxation and recreation. The 450-acre oceanfront park provides a 1.5 mile white sandy beach, a 60-acre fresh water lake, 20 miles of scenic trails for hiking and biking, an extensive dune system and an abundance of maritime hammocks with majestic live oaks draped in spanish moss.

COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Naval Station Mayport 2630 State Road A1A, Atlantic Beach, FL 32233

Naval Station Mayport is a major United States Navy base in Jacksonville, Florida. It contains a protected harbor that can accommodate aircraft carrier-size vessels, ship's intermediate maintenance activity (SIMA) and a military airfield (Admiral David L. McDonald Field) with one asphalt paved runway (5/23) measuring 8,001 × 200 ft. (2,439 × 61 m). Since its commissioning in December 1942, NS Mayport has grown to become the third largest naval surface fleet concentration area in the United States. Mayport's operational composition is unique, with a busy harbor capable of accommodating 34 ships and an 8,001-foot (2,439 m) runway capable of handling most aircraft in the Department of Defense inventory. Naval Station Mayport is also home to the Navy's United States Fourth Fleet, reactivated in 2008 after being deactivated in 1950. The base has historically served as the homeport to various conventionally powered aircraft carriers of the Atlantic Fleet, including the Shangri-La, Franklin D. Roosevelt, Forrestal (September 1977 – January 1983), Saratoga, and, most recently, the John F. Kennedy. With the decommissioning of all conventionally powered aircraft carriers by the Navy, no carriers are presently assigned to Mayport. However, both houses of Congress have passed legislation authorizing about US $75 million for dredging and upgrades at Mayport to accommodate a nuclear-powered aircraft carrier. On January 29, 2010, the Quadrennial Defense Review Report stated that a nuclear aircraft carrier would be home ported at NAS Mayport. The action will help protect the fleet against a potential terror attack, accident or natural disaster, because all east coast aircraft carriers are currently based at Naval Station Norfolk, according to the report. West coast aircraft carriers are split between Naval Station San Diego and Naval Base Kitsap in Washington state. Robert Gates, Secretary of Defense, stated, "Having a single (nuclear carrier) homeport has not been considered acceptable on the west coast and should not be considered acceptable on the east coast." The decision was opposed by elected officials inV irginia, who would lose 3,500 sailors and their dependents, $425 million in revenue each year, and most importantly, 6,000 support jobs. The Hampton Roads Chamber of Commerce estimated the loss at 11,000 jobs and $650 million per year. Infrastructure changes and facility construction at Mayport are estimated to take five years and cost over half a billion dollars. The 2011 budget commits $590 million during the fiscal years from 2011 to 2019, so a carrier may not move to Mayport until 2019. However, an amphibious group is coming sooner. The USS New York (LPD-21) relocated to Mayport in December 2013 and two other ships are planned to move as early as 2014.

A 2013 report from the USN revealed that they are considering basing as many as 14 littoral combat ships at Mayport. (Source: Wikipedia)

Businesses “optimistic” about new ships at Mayport

JACKSONVILLE, Fla. -- The USS Iwo Jima and USS Fort McHenry are scheduled to arrive at their new home port, Naval Station Mayport, on Sunday. About 1500 sailors are also making the move from Norfolk, Virginia. "It's a great opportunity," said Deanna Bongirno, owner of Bongirno's Philly Steak Shop on Mayport Road. "More businesses will open, more people will move here, it's going to boost everything." Bongirno, and several other business owners, say the Mayport part of Jacksonville hasn't been as booming as it was in the past. "When we first opened it was kind of slow," Bongirno said. Wes McCall is the Commanding Officer of Naval Station Mayport. He says in addition to these two ships arriving Sunday, 6 littoral combat ships will move to Mayport in 2016. "It's nice to see activity back here on the base and what a great deal for us and what a great deal for the city," he said. All the action is leaving business owners like Bongirno optimistic about the business boom they've been looking for. (Source: First Coast News)

COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Comparative Multifamily Properties 2630 State Road A1A, Atlantic Beach, FL 32233

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COMPARATIVE MULTIFAMILY PROPERTIES 1 BluWater 4 Tamaya 2 Broadstone Beach House 5 Sorrel 3 Ocean Blue 6 Seagrass

Year Total Average Average Property Photo Property Built Units Unit Mix Unit SF Rent/SF

BluWater 1 711 Beach Blvd 2015 170 1’s, 2’s, 3’s 892 $1.85 Jacksonville Beach, FL 32250

Broadstone Beachouse 2 1300 Shetter Avenue 2009 228 1’s, 2’s, 3’s 1,173 $1.35 Jacksonville Beach, FL 32250

Ocean Blue 3 2701 State Road A1A UC 156 1’s, 2’s, 3’s 1,231 $1.30 Atlantic Beach, FL 32233

Tamaya 4 NWQ Kernan & Beach Blvd UC 380 1’s, 2’s, 3’s 977 $1.30 Jacksonville, FL 32224

Sorrel 5 12001 Abess Blvd 2015 290 1’s, 2’s, 3’s 1,048 $1.22 Jacksonville, FL 32225

Seagrass 6 1701 San Pablo Road S 2014 396 1’s, 2’s, 3’s 1,031 $1.20 Jacksonville, FL 32224

COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Atlantic Beach Comparable Multifamily Properties 2630 State Road A1A, Atlantic Beach, FL 32233

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COMPARATIVE MULTIFAMILY PROPERTIES 1 Ocean Blue 4 Otter Run 2 Atlantica 5 Arium Atlantic Beach 3 Promenade at Mayport 6 Mallard Cove -

Year Total Unit Average Average Property Photo Property Built Units Mix Unit SF Rent/SF Occupancy

Ocean Blue 1’s, 2’s, 1 2701 State Road A1A UC 156 1,231 $1.30 N/A Atlantic Beach, FL 32233 3’s

Atlantica 2 2760 State Road A1A 1987 100 2’s 942 $1.14 97% Atlantic Beach, FL 32233

Promenade at Mayport 3 2610 State Road A1A 1986 216 1’s, 2’s, 837 $1.13 95% Atlantic Beach, FL 32233

Otter Run 4 1025 Assisi Lane 1989 192 1’s, 2’s, 863 $1.11 99% Atlantic Beach, FL 32233

Arium Atlantic Beach 1’s, 2’s, 5 2160 Mayport Road 1986 204 843 $1.09 N/A Atlantic Beach, FL 32233 3’s

Mallard Cove 6 2900 State Road A1A 1987 160 1’s, 2’s, 867 $1.08 98% Atlantic Beach, FL 32233

COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Comparative Multifamily Land Sales 2630 State Road A1A, Atlantic Beach, FL 32233

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COMPARATIVE MULTIFAMILY PROPERTIES 1 Integra Riverside 7 Ocean Blue 2 Broadstone River House 8 Alaqua 3 Terraces at Town Center II 9 Carlton at Bartram Park 4 Portiva 10 SOLA 5 Tamaya 11 Loree Phase II 6 Palm Bay Club 12 Galleria Club

COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Comparative Multifamily Land Sales 2630 State Road A1A, Atlantic Beach, FL 32233

Sale Property Submarket Date Sale Price Units $/Unit AC

Integra Riverside 1 North Aug-16 $3,278,000 300 $10,927 18 Max Leggett Parkway

Broadstone River House 2 South July-16 $6,500,000 263 $24,715 4.5 Downtown Southbank

Terraces at Town Center II 3 Baymeadows April-16 $6,275,000 240 $26,146 12.9 Gate Parkway

Portiva 4 Baymeadows April-16 $3,500,000 260 $13,462 7.3 AC Skinner Parkway

Tamaya 5 NEQ Beach & Kernan Southeast Mar-16 $6,295,000 380 $16,566 11.0

No Palm Bay Club 6 Photo Gran Bay Parkway Baymeadows Jan-16 $7,100,000 400 $17,750 22 Available

COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Comparative Multifamily Land Sales Cont. 2630 State Road A1A, Atlantic Beach, FL 32233

Sale Property Submarket Date Sale Price Units $/Unit AC

Ocean Blue 7 Beaches Dec-15 $1,56,000 156 $10,000 15.5 State Road A1A

Alaqua 8 Baymeadows Jun-15 $2,616,000 218 $12,000 11 Gran Bay Parkway

Carlton at Bartram Park 9 Mandarin May-15 $6,300,000 395 $15,949 26 Bartram Park Blvd

SOLA 10 South April-15 $4,000,000 330 $12,121 15 Gate Parkway West

Loree Phase II 11 AC Skinner Parkway Baymeadows Jan-15 $5,400,000 300 $18,000 15

Galleria Club 12 Baymeadows Road East Baymeadows Jan-15 $6,000,000 254 $23,622 15

COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Beaches Apartment Market Summary 2630 State Road A1A, Atlantic Beach, FL 32233

Beaches Beaches Over- % of Submarket Summary all Mkt # of Units 3,056 72,813 4.2% # Vacant 131 3,297 4.0% Vacancy % 4.3% 4.5% Average SF 914 976 93.6% Average Rent $1,066 $940 113.4% Average Rent/SF $1.166 $0.96 121.1% Absorption 58 1,127 5.1% # Under-Construction 0 2,148 0.0% # Proposed 54 2,067 2.6% Starts 0 1,118 0.0% Change in Supply 0 254 0.0% Rent Change $ $37.54 $27.87 134.7% Rent Change % 3.7% 3.1% 119.5%

Beaches Submarket Trends Annualized 1-Yr 5-Yr Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Avg. Avg. One Bed % 7.2% 8.6% 4.7% 8.3% 6.4% 7.2% 8.7% 6.3% 3.5% 5.1% 3.8% 4.1% 6.3% Two Bed % 5.6% 5.4% 4.9% 5.2% 5.7% 5.1% 6.6% 7.3% 6.1% 7.6% 4.4% 6.0% 5.8% Three Bed % 5.4% 5.3% 7.4% 8.2% 4.1% 4.1% 9.4% 10.6% 3.4% 6.1% 6.1% 5.2% 6.4% Vacancy Totals 6.1% 6.4% 5.0% 6.5% 5.9% 5.8% 7.5% 7.1% 5.0% 6.6% 4.3% 5.3% 6.0% One Bed $/mo. $651 $718 $722 $743 $765 $804 $810 $799 $873 $886 $922 $894 $790 Two Bed $/mo. $814 $901 $865 $916 $957 $996 $996 $968 $1,067 $1,075 $1,122 $1,088 $971 Three Bed $/mo. $1,007 $1,098 $1,058 $1,167 $1,154 $1,193 $1,226 $1,244 $1,335 $1,385 $1,440 $1,386 $1,210 Rents Totals $771 $853 $829 $869 $901 $940 $944 $924 $1,012 $1,024 $1,066 $1,034 $921 Same-Unit Growth -1.5% 0.7% 2.5% 1.2% 1.7% 1.9% 0.5% 0.5% 5.3% 1.1% 3.7% 4.7% 3.8% Absorption 41 -17 15 -15 18 3 -52 11 228 -50 58 8 40 Change in Supply 0 0 0 0 0 0 0 0 172 0 0 0 34 Differential 41 -17 15 -15 18 3 -52 11 56 -50 58 8 5 Starts 0 0 0 0 0 0 170 0 0 0 0 0 34

Supply / Demand Supply Units U/C 0 0 0 0 0 0 170 170 0 0 0 0 31 Units Proposed 0 0 0 0 0 170 0 0 0 0 54 18 20

COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville For Sale > Multifamily Land Contact Us For More Information 2630 State Road A1A, Atlantic Beach, FL 32233

Jacksonville Market Overiew Jax Metro Apartment Jun Dec Jun Summary 2015 2015 2016 Jacksonville # of Units 72,587 71,098 72,813 Selected as a Top Contact Us US Logistic Hub # Vacant 4,166 4,101 3,297

Vacancy % 5.7% 5.8% 4.5% Bradley Coe, MBA, MRE Global Trade Magazine Average SF 975 977 976 904 358 1206 | Ext 1158 Average Rent $900 $912 $940 July 2016 jacksonville, fl 32202 Average Rent/SF $0.92 $0.93 $0.96 [email protected] Absorption 1,938 1,002 1,127 # Under-Construction 1,480 1,285 2,148 Florida #4 on the Douglas Blair, MSW # Proposed 725 1,352 2,067 Tax Foundation’s 904 358 1206 | Ext 1101 Starts 655 801 1,118 State Business jacksonville, fl 32202 Change in Supply 1,026 1,065 254 Index [email protected]

Rent Change $ $27.99 $4.12 $27.87 Tax Foundation Rent Change % 3.2% 0.5% 3.1% June 2016 5-Yr Past 1-Yr Market Indicators Ann. Avg. Year Forecast Employment Growth 2.1% 4.4% “Hot Spot Where Mortgage Rates 4.1% 3.9% Americans Are Moving” Supply Growth 1.5% 1.8% Jacksonville ranks #2 Colliers International Demand Growth 2.6% 2.9% hot spot that Americans Multifamily Advisory Group Occupancy Rate 91.9% 94.7% are moving right now Rent Growth 3.0% 3.5% Realtor.com Jax Fast Facts May 2016 Jacksonville Metro Population 1,583,267 Average Household Income $69,847 Labor Force 810,703 Jacksonville Add Unemployment Rate 4.2% the 12th Most People of Any City Colliers International Number of Public Schools 323 in American Number of Colleges & Universities 20 Land Advisory Group U.S. Census Bureau Top 10 Employers Naval Air Station Jacksonville 25,240 May 2016 Duval County Public Schools 14,480 Naval Station Mayport 9,000 “City With the Most City of Jacksonville 8,820 Vibrant Employment Baptist Health 8,270 Scene”

Florida Blue 6,500 Jacksonville has COLLIERS INTERNATIONAL | Citi 5,000 the #2 most vibrant NORTHEAST FLORIDA Mayo Clinic 4,970 employments scene 50 N. Laura Street, Suite 1725 United Parcel Services 4,100 Forbes Jacksonville, FL 32202 Clay County School Board 4,000 March 2015 www.colliers.com/jacksonville

COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street, Suite 1725 Jacksonville, FL 32202 #0#0 www.colliers.com/jacksonville