DOCSLIB.ORG

Offering Memorandum 11803 E. Colonial Drive

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Offering Memorandum 11803 E. Colonial Drive Actual Photo OFFERING MEMORANDUM CBRE, Inc. | Licensed Real Estate Broker 11803 E. COLONIAL DRIVE , ORLANDO, FL 32826 Capital Markets | Net Lease Properties AMSCOT | PRIME ORLANDO RETAIL LOCATION | 100K CARS | 11 YEARS | FIXED RENTAL INCREASES N ALAFAYA TRAIL | 58,218 CARS DAILY TRAIL | 58,218 CARS DAILY N ALAFAYA CENTRAL FLORIDA RESEARCH PARK (CFRP) • LARGEST RESEARCH PARK IN FLORIDA; 4TH LARGEST IN U.S. (BY NO. OF COMPANIES) • 10,000 EMPLOYEES • $1.5 BILLION PAYROLL Alafaya Commons E COLONIAL DRIVE | 53,233 CARS DAILY E COLONIAL DRIVE | 45,485 CARS DAILY N ALAFAYA TRAIL | 53,219 CARS DAILY EXCLUSIVELY MARKETED BY: MARK DRAZEK RAY ROMANO Senior Vice President First Vice President Capital Markets | Net Lease Properties Capital Markets | Net Lease Properties +1 407 496 1334 +1 407 404 5022 [email protected] [email protected] CBRE, Inc. | Licensed Real Estate Broker | © 2018 CBRE, Inc. All Rights Reserved IImage Landsatt // Coperrniicus Image Landsat / Copernicus THE UNIVERSITY OF CENTRAL FLORIDA (UCF) • 2ND LARGEST UNIVERSITY IN THE UNITED STATES • MAIN CAMPUS IS 1,415± ACRES • TOTAL ENROLLMENT 69,525 STUDENTS CENTRAL FLORIDA RESEARCH PARK (CFRP) • LARGEST RESEARCH PARK IN FLORIDA; 4TH LARGEST IN U.S. (BY NO. OF COMPANIES) • 10,000 EMPLOYEES • $1.5 BILLION PAYROLL TRAIL | 58,218 CARS DAILY N ALAFAYA E COLONIAL DRIVE | 53,233 CARS DAILY E COLONIAL DRIVE | 45,485 CARS DAILY N ALAFAYA TRAIL | 53,219 CARS DAILY WATERFORD LAKES TOWN CENTER IS AN OUTDOOR MALL LOCATED A FEW MILES SOUTH OF THE UNIVERSITY OF CENTRAL FLORIDA ON NORTH ALAFAYA TRAIL, JUST OFF FLORIDA STATE ROAD 408 AND IS ANCHORED BY: • SUPER TARGET • BED BATH & BEYOND • ROSS • REGAL CINEMAS • BEST BUY • ASHLEY FURNITURE • PETSMART • LA FITNESS 4 5 9 12 14 INVESTMENT AERIALS AREA OVERVIEW DEMOGRAPHICS TENANT SUMMARY & MAPS OVERVIEW Investment Summary 4 CBRE is pleased to present this long-term single tenant Amscot Property located in Orlando Florida. Amscot, who has been in business for over 30 years and has over 240 locations, has been at this location for 14 years. The lease is absolute NNN with no landlord management obligations and fixed rental increases of 10% every 5 years. Due to their success here, they’ve recently exercised their first 10-year option. This is a prominent intersection in Orlando with the University of Central Florida Research Park just to the north and Waterford Lakes Town Center to the south. The property is situated directly on the hard corner with a combined traffic count of over 100,000 cars daily. It’s irreplaceable real estate which will draw tremendous demand if ever redeveloped. Investment Highlights CLICK FRAME TO SEE PROPERTY VIDEO • SECURE INVESTMENT: Long term lease with Amscot Corporation who has been in business for over 30 years and has over 240 locations. • EXCELLENT LOCATION: Irreplaceable retail real estate. Prominent high traffic hard corner signalized intersection with over 100,000 cars daily. and excellent access and exposure. The Investment Summary property additionally benefits from close proximity to major employers and the University PRICE: $3,569,000 of Central Florida. The university, situated approximately 2 miles from the site, enrolls nearly 70,000 students and is among the Orlando MSA’s largest employers, with a staff of nearly ANNUAL RENT: $214,145* 13,500. Central Florida Research Park, a 1027 acre business park, lies between the university CAP RATE: 6.00% and the site and houses a dense concentration of science, technology, research, defense, and engineering firms, drawn in part by the University’s $183+ million research budget TENANT: Amscot Corporation and employing more than 10,000. Major companies located in the business park include RENTAL INCREASES: 10% every 5 years including options Cisco, Siemens, Raytheon, Northrop Grumman, Mass Virtual, Inc., Fidelity Technologies, REMAINING LEASE TERM: 11 Years (Recently exercised their first 10-year option) Laser Institute of America, Collins Aerospace, Redcon Solutions Group, Earthrise Space Foundation, US Geological Survey, Astronics Test Systems, Turbine Technology Services OPTIONS: (2) 10-year options Corp, Saab Defense and Security USA, Alight Solutions, Carley Corporation, Quadrant RENT COMMENCEMENT: 2/1/2006 Simulation System, Aptima, Inc., IDE, Cubic Defense Systems, the Naval Support Activity Center, the Institute for Simulation and Training, the National Center for Simulation, the LEASE EXPIRATION: 1/31/2031 National Center for Forensic Science, and more. LANDLORD OBLIGATIONS: None - Absolute NNN • NO MANAGEMENT: Absolute NNN lease - No landlord management obligations. EXISTING FINANCING: No debt to assume • HEDGE AGAINST INFLATION: Fixed rental increases throughout entire lease term. • PROVEN LOCATION: Amscot has been at this location for 14 years and has recently BUILDING SIZE: 3,200 +/- SF exercised their first 10 year option - A testament to their success at this location. LAND SIZE: 0.60 +/- acres • HIGH DEMAND MARKET: Florida is a preferred state for NNN investors due to strong PARKING SPACES: 26 spaces (8.1 spaces per 1,000 SF) growth and the fact there is not state income tax. YEAR BUILT: 2006 Amscot | Orlando, FL *Rent as of 2/1/2021, rent credit to be provided at closing. Aerial Looking North 5 Alafaya Commons N ALAFAYA TRAIL | 58,218 CARS DAILY E COLONIAL DRIVE | 45,485 CARS DAILY Amscot | Orlando, FL Aerial Looking South 6 N ALAFAYA TRAIL | 53,219 CARS DAILY E COLONIAL DRIVE | 45,485 CARS DAILY Amscot | Orlando, FL Aerial Looking East 7 E COLONIAL DRIVE | 45,485 CARS DAILY Alafaya Commons Amscot | Orlando, FL Aerial Looking West 8 E COLONIAL DRIVE | 53,233 CARS DAILY N ALAFAYA TRAIL | 58,218 CARS DAILY Amscot | Orlando, FL Area Overview 9 Orlando, Florida Orlando is the most populous inland city in Florida with a population of over 277,000 residents. The City is located in Central Florida; it is the county seat of Orange County and the center of the Orlando MSA. The Orlando MSA has a population of over 2.8 million residents, making it the 24th largest metropolitan area in the United States. In the past three years, job growth in the metro has been among the best in the nation and more than double the U.S. average. The Orlando MSA stretches across four counties and encompasses over 4,000 sq. miles of total area. The principal cities are Orlando, Kissimmee, and Sanford. Tourism is clearly the chief economic driver. Orlando is the #1 destination in the U.S., setting overall visitor records each of the last five years, including a record 72 million in 2017. Many infrastructure Retail Current Conditions Record-breaking tourism, best in state population gains and tremendous improvements are underway. The Orlando International Airport recently began a $4.27 billion employment growth have all helped strengthen an already robust Orlando capital improvement project. The airport is the 13th busiest in the United States with over 45 retail market. Vacancy has hovered near pre-recession lows for the last sev- million passengers in 2017. eral years even as new product is delivered. This fervent demand has pushed average asking rates increasingly higher as retailers clamor to find their spot in the Orlando market. Orlando supports a wealth of industry sectors with tourism at the top, followed by agriculture, international trade, and aerospace and aviation. Leisure and hospitality tend to lead the way in Orlando and have had strong growth in the past three years, adding about 22,000 jobs. This Construction Activity Similar to other Florida markets, deliveries have slowed in recent years but sector is the largest in the metro, accounting for 250,000 jobs. Entertainment industry leaders activity has remained consistent nonetheless. From 2007 to present the mar- like EA- Tiburon, Walt Disney Company, and NBC Universal all have a strong corporate ket has averaged over 2.2 million sq. ft. of deliveries. Current construction presence. As a hub for aerospace and defense technology development, Florida harbors major activity it is also at its highest level since 2008. operations by industry leaders Northrop Grumman and Lockheed Martin. Investment Activity In 2014 over $750 million in capital flowed into the Orlando retail market. 56.5 Since that time the market’s fundamentals have improved significantly and 113 Daytona Gainesville Beach investors are doing their best to find investment opportunities in the market. miles 141 distance miles 84 Jacksonville to Tampa miles 56 236 miles Lakeland Miami miles miles Amscot | Orlando, FL Area Overview 10 University of DIVERSE STUDENT POPULATION UNEMPLOYMENT Central Florida 0.1% 1% 3.7% 0.1% 2.5% Orlando MSA November UCF has more than 220 degree programs in 4.4% 2019 unemployment rate 13 colleges 6.4% Orlando also has plentiful 10.7 16,500+ degrees conferred each year talent well into the future with 46.8% more than 500,000 students within a 347,710 degrees conferred as of August 100-mile radius 2019 26.7% Named the 8th best large city UCF ranks among the nation’s 10 most inno- in the U.S. for infrastructure vative universities. American Indian/Alaska Native Multiracial Asian Native Hawaiian/other/ Pacic Islander Black/African American Not Specied 2nd Largest university in the U.S. with 69,525 Hispanic/Latinx White enrollment International The Rosen College of Hospitality Manage- 69,525 ment is ranked the No. 4 hospitality school in 69,000 the world by 68,558 68,000 CEO WORLD Magazine UNIVERSITY 67,000 66,180 66,000 $192.1 million Funded Research HEADCOUNT Fiscal Year 2019 Numbers of Students 65,000 FALL 2019 - 64,000 64,335 13,500+ Faculty and Staff 69,525 63,000 63,016 Fall 2015 Fall 2016 Fall 2017 Fall 2018 Fall 2019 Amscot | Orlando, FL Area Overview 11 CENTRAL FLORIDA RESEARCH PARK - ORLANDO’S TECH HUB ▶ Founded in 1988 by the Orange County Research & Development Authority, a non-profit, tax exempt entity 1ST LARGEST research ▶ U.S.
Load more

Recommended publications
  • Fy 2019/20 - 2023/24
    Draft FY 2019/20 - 2023/24 Orlando Urban Area Transportation Improvement Program (This page intentionally left blank) FY 2019/20 - 2023/24 Orlando Urban Area Transportation Improvement Program Prepared By MetroPlan Orlando To be presented to the MetroPlan Orlando Board for approval on July 10, 2019 This report was prepared under the FY 2018/19 Orlando Urban Area Unified Planning Work Program Element 300. It was financed by a grant through the U.S. Department of Transportation in conjunction with the Florida Department of Transportation and local governments of the Orlando Urban Area. This data was developed for use by MetroPlan Orlando for planning purposes. MetroPlan Orlando is not liable for any direct, indirect, special, incidental or consequential damages (such as, but not limited to damages for loss of profits, business, savings or data) related to the use of this product or data, or its interpretation. This information is publicly available, and is provided with no warranty or promises of any kind whatsoever, expressed or implied, including warranties for merchantability or fitness for a particular purpose. While every effort is made to confirm the accuracy of the data and any analytical methods used to develop the data, no assurance of accuracy can be or is given. By using this data in any way, the User is acknowledging this limitation, and is agreeing to use the data at his or her own risk. (This page intentionally left blank) Table of Contents Section Number Page Number I Executive Summary I-1 II Regionally Significant Highway
    [Show full text]
  • Forcebuilding Roadways and Jobs
    DRIVING BUILDING ROADWAYS FORCE AND JOBS Orlando-Orange County Expressway Authority 2011 COMPREHENSIVE ANNUAL FINANCIAL REPORT An Independent Special District of the State of Florida Fiscal Year Ended June 30, 2011 DRIVING BUILDING ROADWAYS AND JOBS FORCE Prepared by the Orlando-Orange County Orlando-Orange County Expressway Authority Expressway Authority Financial Office 2011 COMPREHENSIVE ANNUAL FINANCIAL REPORT An Independent Special District of the State of Florida Fiscal Year Ended June 30, 2011 TABLE OF CONTENTS Introductory Section (A) A-2 Letter of Transmittal A-4 Highlights of Fiscal Year 2011 Activities and Accomplishments A-11 Certificate of Achievement for Excellence in Financial Reporting A-12 Expressway System Map A-13 Organizational Chart Financial Section (B) B-1 Independent Auditors’ Report B-2 Management’s Discussion and Analysis Basic Financial Statements B-8 Balance Sheets B-10 Statements of Revenues, Expenses and Changes in Net Assets B-11 Statements of Cash Flow B-13 Notes to Financial Statements B-37 Required Supplementary Information B-38 Calculation of the Composite Debt Service Ratio, as Defined by the Bond Resolutions and Related Documents Statistical Section (C) C-1 Revenues, Expenses and Changes in Net Assets C-2 Net Assets by Component C-3 Toll Revenue by Roadway C-4 Toll Transactions by Roadway C-5 Breakdown of Toll Revenue C-6 Breakdown of Toll Transactions C-7 Schedule of Toll Rates - July 1, 2001 through April 4, 2009 C-8 Schedule of Toll Rates - April 5, 2009 through June 30, 2011 C-9 Average Toll Rate
    [Show full text]
  • Public Meeting Summary Report Interstate 4 (I-4
    PUBLIC MEETING SUMMARY REPORT INTERSTATE 4 (I-4) INTERCHANGE IMPROVEMENTS AT DARYL CARTER PARKWAY AND SAND LAKE ROAD Orange County, Florida — June 2019 Financial Project IDs: 441113-1 and 444315-1 Report Compiled by Global-5 Communications 2180 West State Road 434 Suite 1150 Longwood, FL 32779 407-571-6789 Public Information Consultant for FDOT District 5 I-4 Beyond the Ultimate 4001-20190828 CONTENTTABLE OF CONTENTS Public Meeting Summary Report .......................................... Tab 1 Elected and Appointed Officials Letters and Database.......... Appendix A Meeting Announcements ..................................................... Appendix B News Release ..................................................................... Appendix C FAR Ad ............................................................................... Appendix D Media Kit ............................................................................ Appendix E Video Transcript ................................................................. Appendix F Handout ............................................................................. Appendix G Display Boards ................................................................... Appendix H Media Coverage ................................................................. Appendix I Meeting Photos ................................................................... Appendix J Public Communication Survey .............................................. Appendix K Table of Contents 2 Informational Open House for Interstate
    [Show full text]
  • Florida Department of Transportation Keeps Florida Moving in 2020
    Florida Department of Transportation RON DESANTIS 605 Suwannee Street KEVIN J. THIBAULT, P.E. GOVERNOR Tallahassee, FL 32399-0450 SECRETARY For Immediate Release Contact: Beth Frady December 23, 2020 [email protected] Florida Department of Transportation Keeps Florida Moving in 2020 TALLAHASSEE, Fla. – Today, the Florida Department of Transportation (FDOT) announced its transportation accomplishments in 2020 under the leadership of Governor Ron DeSantis. “This year, the department continued to achieve many milestones that will undoubtedly shape Florida’s transportation system for generations to come,” said Florida Department of Transportation Secretary Kevin J. Thibault, P.E. “Through the leadership of Governor DeSantis and support of our partners, the department has kept Florida moving while accelerating vital transportation projects throughout the state.” FDOT’s accomplishments during 2020 include: ACCELERATION OF KEY CONSTRUCUTION PROJECTS • In 2020, Governor DeSantis directed the Florida Department of Transportation (FDOT) to accelerate key construction projects as traffic slowed due to COVID-19, providing gainful employment to Floridians and saving the state more than 650 calendar days of construction. These projects included: o The Howard Frankland Bridge project in the Tampa Bay area. o The widening of Southern Boulevard (S.R. 80) in western Palm Beach County. o In Miami-Dade, the I-395/S.R. 836/I-95 Design Build Project in coordination with the local expressway authority. o The project at Sand Lake Road (S.R. 482) near the heavy tourist area of International Drive and Universal Boulevard in Orlando. o Phase one of construction on the US-1 Cow Key Bridge in Monroe County.
    [Show full text]
  • Toll Facilities Reference Manual
    Toll Facilities Reference Manual UPDATE MARCH 2016 TABLE OF CONTENTS Page(s) Overview………. ................................................................................................... 1 Key Addresses and Telephone Numbers ............................................................. 1 E-PASS Service Centers ...................................................................................... 1 Mainline Toll Plaza Information .......................................................................... 2-4 Toll Plaza Location Map ....................................................................................... 5 Toll Rate Summary ............................................................................................... 6 SR 408 - Mainline Toll Plazas and Associated Tolled Ramps ......................... 7-25 SR 414 - Mainline Toll Plazas and Associated Tolled Ramps ....................... 26-29 SR 417 - Mainline Toll Plazas and Associated Tolled Ramps ....................... 30-46 SR 429 - Mainline Toll Plazas and Associated Tolled Ramps ....................... 47-55 SR 528 - Mainline Toll Plazas and Associated Tolled Ramps ....................... 56-62 Goldenrod Mainline Toll Plaza ....................................................................... 63-64 March 2016 CFX Toll Facilities Reference Manual Central Florida Expressway Authority Toll Facilities Reference Manual Overview This Toll Facilities Reference Manual provides pertinent information in a condensed format relevant to the toll plazas on the Central Florida
    [Show full text]
  • Offering Summary
    Orlando, Florida ONE AND THREE Building One TWO BUILDING OFFICE PORTFOLIO - RARE INVESTMENT OPPORTUNITY IN ORLANDO, FLORIDA OFFERING SUMMARY Building Three EXECUTIVE SUMMARY PROPERTY OVERVIEW TENANCY OVERVIEW FINANCIAL ANALYSIS MARKET OVERVIEW AREA OVERVIEW AREA OVERVIEW MARKET OVERVIEW FINANCIAL ANALYSIS TENANCY OVERVIEW PROPERTY OVERVIEW EXECUTIVE SUMMARY Holliday Fenoglio Fowler, L.P. (“HFF”) is pleased to exclusively offer the opportunity to acquire the Resource Square Office Portfolio, two Class A office buildings in Orlando’s Central Florida Research Park adjacent to the University of Central Florida (collectively the “Portfolio”). Resource Square One is a 3-story office building that is currently 75.2% leased and Resource Square Three is a 5-story office building that is 90.7% leased. The Portfolio’s quality tenancy, major roadway access, and proximate hotel and dining amenities make the Resource Square Office Portfolio a rare investment opportunity in the nation’s fastest growing job market. ONE THREE PROPERTY OVERVIEW PROPERTY OVERVIEW Building Address 13501 Ingenuity Drive, Orlando, FL Building Address 12001 Research Parkway, Orlando, FL Year Built 1999 Year Built 2003 Rentable Building Area 91,667 SF Rentable Building Area 152,882 SF Number of Stories 3 Number of Stories 5 Occupancy 75.2% Occupancy 90.7%1 Parking Ratio 5.3/1,000 SF Parking Ratio 4.4/1,000 SF 1 Occupancy excludes known vacate StoneRiver, Inc. (10,531 SF). PORTFOLIO Total Net Rentable Area 244,549 SF Average Occupancy 84.9%1 1 Occupancy excludes known vacate
    [Show full text]
  • Multi-Level Safety Performance Functions for High Speed Facilities
    University of Central Florida STARS Electronic Theses and Dissertations, 2004-2019 2012 Multi-level Safety Performance Functions For High Speed Facilities Mohamed Ahmed University of Central Florida Part of the Civil Engineering Commons Find similar works at: https://stars.library.ucf.edu/etd University of Central Florida Libraries http://library.ucf.edu This Doctoral Dissertation (Open Access) is brought to you for free and open access by STARS. It has been accepted for inclusion in Electronic Theses and Dissertations, 2004-2019 by an authorized administrator of STARS. For more information, please contact [email protected]. STARS Citation Ahmed, Mohamed, "Multi-level Safety Performance Functions For High Speed Facilities" (2012). Electronic Theses and Dissertations, 2004-2019. 2488. https://stars.library.ucf.edu/etd/2488 MULTI-LEVEL SAFETY PERFORMANCE FUNCTIONS FOR HIGH SPEED FACILITIES by MOHAMED MOSTAFA ABDUL-RAHMAN AHMED B.Sc. Al-Azhar University, Cairo, Egypt, 2001 M.Sc. University of Central Florida, USA, 2009 A dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Department of Civil, Environmental and Construction Engineering in the College of Engineering and Computer Science at the University of Central Florida Orlando, Florida Spring Term 2012 Major Professor: Mohamed A. Abdel-Aty © 2012 Mohamed M. Ahmed i ABSTRACT High speed facilities are considered the backbone of any successful transportation system; Interstates, freeways, and expressways carry the majority of daily trips on the transportation network. Although these types of roads are relatively considered the safest among other types of roads, they still experience many crashes, many of which are severe, which not only affect human lives but also can have tremendous economical and social impacts.
    [Show full text]
  • Market Overview
    MARKET OVERVIEW Market Overview MARKET OVERVIEW MARKET OVERVIEW Metropolitan ORLANDO #3 in Nation ORLANDO #1 in Nation Economics Projected Five Year Population Growth Projected Five Year Employment Growth Percentage Population Percentage Employment The Orlando-Kissimmee Metropolitan Rank Metropolitan Area Growth Growth Rank Metropolitan Area Growth Growth Statistical Area (“MSA” or “metro”), 1) Phoenix-Mesa-Scottsdale 12.7% 606,250 1) Orlando-Kissimmee-Sanford 11.9% 147,246 Florida’s third most-populated MSA 2) Las Vegas-Henderson-Paradise 12.5% 275,634 2) Austin-Round Rock 10.0% 100,635 3) Orlando-Kissimmee-Sanford 10.4% 257,463 3) Las Vegas-Henderson-Paradise 9.4% 90,569 and the 24th-largest in the nation, is 4) Tampa-St. Petersburg-Clearwater 10.4% 320,703 4) West Palm Beach-Boca Raton-Delray Beach 8.7% 53,385 home to 2.47 million people. Florida is 5) Jacksonville 10.4% 156,238 5) Dallas-Plano-Irving 8.6% 219,791 forecasted to be the fastest growing state 6) West Palm Beach-Boca Raton-Delray Beach 10.4% 153,314 6) Phoenix-Mesa-Scottsdale 8.6% 172,243 7) Fort Lauderdale-Pompano Beach-Deerfield Beach 10.4% 204,289 7) Fort Worth-Arlington 8.2% 84,776 in terms of population between 2017 8) Miami-Miami Beach-Kendall 10.4% 289,952 8) Jacksonville 7.5% 51,612 and 2027 adding 4.61 million people, 9) Austin-Round Rock 7.6% 157,030 9) Portland-Vancouver-Hillsboro 7.1% 82,627 and boasts Moody’s Aa2 credit rating. 10) Houston-The Woodlands-Sugar Land 7.6% 522,101 10) San Antonio-New Braunfels 6.8% 68,878 As an economic powerhouse, the MSA Source: Moody's Source: Moody's has a dynamic business climate that continues to diversify far beyond its CENTRAL FLORIDA AWARDS tourism roots; the area now benefits from AND RECOGNITION a highly-skilled workforce and a broad 160,000 Florida Metro Employment Trends Comparison industry base with nationally recognized Total Non-Farm Employment Projection 147,246 “#3 Travelers’ clusters of innovation in technology “Top Five 140,000 Choice Top 25 U.S.
    [Show full text]