Verizon Wireless Top Retail Node in Orlando
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verizon wireless top retail node in orlando offered as part of a portfolio: click here for portfolio package NEW TROPHY FREESTANDING CORPORATE VERIZON PAD TO SUPER TARGET ANCHORED MILLENIA PLAZA [ www.CapitalPacific.com ] 4750 Millenia Plaza Way, Orlando, FL 32839 Click for Map nt hi TROPHY NEW CONSTRUCTION FREESTANDING VERIZON WIRELESS IN me ghl st ig e h THE PREMIER RETAIL TRADE AREA OF THE ORLANDO MSA v t n s i PRICE: $4,991,000 The subject property is located in a high-growth submarket of Orlando, FL, the third largest metro area in the United States . The CAP: 5.50% property is just six miles from downtown Orlando and in close proximity to many of the area’s premier tourist destinations . RENTABLE SF ...........4,800 SF An outparcel to the Super Target anchored Millenia Plaza, this CURRENT RENT . $57 .29/SF net leased Verizon is located in the heart of a robust retail node . LOT SIZE . 0 .75 AC The center is just north of the Mall at Millenia, the #1 mall in the State of Florida and one of the strongest performing malls in YEAR BUILT . 2016 the country . In addition to the freestanding Verizon, the project includes mall at millenia: top 10 mall in us two multi-tenant retail buildings . Each lease for the center is corporately backed and all three buildings are being offered sales volume psf: $1,360 individually as well as a portfolio . Please click here for the portfolio offering memorandum. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Listing Team Contact Info chris kostanecki zeb ripple ck@capitalpacific .com | (415) 274-2701 zripple@capitalpacific .com | (415) 274-2702 CA BRE# 01002010 CA BRE# 01242540 chris peters jack navarra cpeters@capitalpacific .com | (415) 274-2703 jnavarra@capitalpacific .com | (415) 274-2705 CA BRE# 01339983 CA BRE# 01909630 Listed in conjunction with FL Licensed Broker: Capital Pacific collaborates . Andrew T . Knight | New England Commercial Brokerage Click Here to meet the rest of Andrew@NECBrokerage .com | (860) 648-1600 our San Francisco team . VERIZON WIRELESS | 2 core characteristics The subject property is a long-term, corporately backed Verizon Wireless . STRONG DEMOGRAPHICS The freestanding, single tenant building is subject to a NN lease with Millenia Plaza is well located in an affluent, densely populated suburb of minimal landlord responsibilities . This offering represents the rare Orlando . The subject property boast impressive demographics of 243,00 opportunity for an investor to acquire an asset with the combination of people in a five mile radius with average household incomes in excess of strong credit, long-term lease, and attractive rent increases . $58,000 LEASE HIGHLIGHTS EXCELLENT RETAIL MARKET • 10-year corporately backed lease The subject property is situated in the center of a booming retail trade area . • NN lease with minimal landlord responsibilities Immediately to the south of Millenia Plaza is the Mall at Millenia, the #1 • 10% increases every 5 years in primary term and options mall in the state of Florida (anchored by Neiman Marcus, Bloomingdale’s, and Macy’s) . Other high-end tenants in the mall include Chanel, Gucci, PROMINENT, HIGH VISIBILITY LOCATION Prada, Louis Vuitton, Tiffany & Co, Burberry, and Jimmy Choo . The Mall at The subject property is situated at the gateway to Millenia Plaza . The Millenia draws from a trade area that consists of 1 .5 million people with a property benefits from excellent visibility along Millenia Blvd and has potential for retail expenditures north of $5 billion . dedicated access from the signalized entrance to the larger center . The property stands to benefit from recent development in the area, which ORLANDO LOCAL ECONOMY will further enhance traffic . The trade area can be accessed by Interstate 4 Orlando is the 3rd largest metro area and one of the most popular tourist (165,000 ADT), a primary highway that also provides access to the area’s destinations in the US . The Orlando area averages more than 62 million many tourist destinations . visitors who contribute $33 billion to the local economy each year . In addition to tourism, Orlando features a booming technology sector . With an impressive 53,000 employees, Orlando’s $13 .4 billion tech industry Trophy, high identity NET lEASED PAD TO SUPER TARGET makes it one of the fastest growing job markets in the country . The Orlando economy is also expecting a big boost from the life science sector . The area’s new life science development, Medical City, will consist of 650 acres and create 30,000 jobs . The development’s impact on the local economy is estimated at $7 .6 billion over the next decade . VERIZON WIRELESS | 3 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. zoomed-out aerial MILLENIA PLAZA IS SITUAted in the epicenter of orlando’s top retAIL NODE Dr. Phillips High School 4 400 urnpike Conroy Road 482 Orlando International Premium Outlets Florida’s T International Drive Value Center 435 435 S Kirkman Road Eagle’s Nest Elementary Millenia Plaza 161,000 DAILY xpressway E Artegon Marketplace eachline 4 B 400 SHINGLE CREEK GOLF CLUB Millenia Plaza ndersen The Mall at Millenia A Eccleston Elementary Martin 528 Sand Lake Road Millenia Plaza Way oung 482 S JohnParkway Y Road Conroy Sand Lake Corners S John Y Parkwayoung urnpike Millenia Shopping Center Florida’s T 4 400 482 CITY CENTER 528 VERIZON WIRELESS | 4 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. zoomed-in aerial LOCATED JUST NORTH OF THE TOP-PERFORMING MALL IN FLORIDA 161,000 DAILY The Mall at Millenia CITY CENTER 4 Shingle Conroy Road Creek Elementary 400 Millenia Boulevard 10,000 DAILY Vineland Road Millenia Plaza Way 4 Millenia Shopping Center 400 oulevard B Conroy Road Millenia VERIZON WIRELESS | 5 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. income & expense Current Price: $4,991,000 Capitalization Rate: 5.50% Price Per Square Foot: $1,039.79 Total Leased (SF): 100% 4,800 Total Vacant (SF): 0 .00% 0 Total Rentable Area (SF): 100% 4,800 INCOME Per Square Foot Scheduled Rent* $57 .29 $275,000 EFFECTIVE GROSS INCOME $275,000 EXPENSE CapEx Reserves ($0 .10) ($480) Utility Expenses NNN Insurance NNN Property Taxes NNN TOTAL OPERATING EXPENSES ($0.10) ($480) NET OPERATING INCOME $274,520 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. VERIZON WIRELESS | 6 rent roll TENANT INFO LEASE TERMS RENT SUMMARY Monthly Annual Tenant Sq. Ft. Unit Term Rent/FT Rent Rent Verizon 4,800 Pad C 1 5 $22,917 $275,000 $57 .29 6 10 $25,208 $302,500 $63 .02 Option 1 11 15 $27,729 $332,750 $69 .32 Option 2 16 20 $30,500 $366,000 $76 .25 Occupied 4,800 100% $22,917 $275,000 $57.29 Vacant 0 0% Current Totals: 4,800 100% This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. VERIZON WIRELESS | 7 millenia plaza lots 1 & 2 offered as part of a portfolio. click here for portfolio package VERIZON WIRELESS | 8 The three outparcels of Millenia Plaza are being offered individually site plan as well as a portfolio. Please click here for portfolio package SITE PLAN KEY M I L Parcel OUTLINE: L E N LAND AREA: 0 75. AC IA P L A Z BUILDING AREA: 4,800 SF A W A INGRESS/EGRESS: Y NOT Y A PART DAIL 10,000 D R A V E L U O B A I N E L L I M This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. VERIZON WIRELESS | 9 surrounding retail MALL At Millenia – TOP 10 MALL IN THE US TRADE AREA CONSISTING OF 1.5 MILLION PEOPLE WITH POTENTIAL EXPENDITURE OF $5 BILLION VERIZON WIRELESS | 10 surrounding retail LOCATED AT EPICENTER OF Orlando’s PREMIER RETAIL TRADE AREA VERIZON WIRELESS | 11 surrounding retail MILLENIA PLAZA VERIZON WIRELESS | 12 surrounding retail MILLENIA PLAZA VERIZON WIRELESS | 13 tenants VERIZON Verizon Communications Inc, (NYSE, NASDAQ: VZ), is a global leader in delivering broadband and other wireless and wireline communication services to mass market, business, government, and wholesale customers . Verizon Wireless operates America’s most reliable wireless network, serving more than 112 .1 million customers nationwide . Globally, the company offers voice and data services in more than 200 countries . Verizon Wireless employs 177,000 people and has 1,700+ company operated retail locations in the US .