FOR SALE BY COURT-APPOINTED RECEIVER City Center • Port St. Lucie Confidential Offering Memorandum Partnership. Performance. Content EXECUTIVE SUMMARY 4 PROPERTY OVERVIEW 8 MARKET OVERVIEW 16 AREA OVERVIEW 20 CONTACT: Michael T. Fay, Principal Managing Director, Miami 305.4 47.7842 [email protected] Jay Ziv, CCIM Senior Vice President 305.4 47.7849 [email protected] Keith O’Donnell Principal, Capital Markets 561.893.7011 [email protected] Avison Young 2020 Ponce de Leon Blvd, Suite 1200 Coral Gables, FL 33134 avisonyoung.com DISCLOSURE This confidential Offering Memorandum was prepared by Avison Young - Florida, LLC and has been reviewed by Owner. It contains selected information pertaining to the Property and does not purport to be all-inclusive, nor to contain all the information that a prospective investor may desire. This presentation is not an offer to sell or a solicitation to buy any securities, and is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement, or advice as to the actual return of this investment. Except for any historical information, such matters discussed herein are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, and could result in the loss of principal. Each prospective investor is to rely upon its own investigation, evaluation and judgment as to the advisability of the investment described herein. Sources of information contained within this Investment Memorandum include, but are not limited to: CoStar, Integrated Realty Resources, Google, MLS, and the US Census Bureau. Avison Young - Florida, LLC expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions with any party at any time with or without notice. Avison Young - Florida, LLC shall have no legal commitment or obligation to any investor reviewing this Offering Memorandum or making an offer to invest in the Property unless a written agreement has been fully executed, delivered, and approved by the Owner and any conditions to Owner’s obligations thereunder have been satisfied or waived. This Offering Memorandum is the property of the Avison Young - Florida, LLC and may only be used by parties approved by Avison Young - Florida, LLC. The Property is being privately offered and by accepting this Offering Memorandum, the party in possession hereof agrees that its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Avison Young - Florida, LLC and Owner. The terms and conditions set forth apply to this Offering Memorandum in its entirety. OFFER SOLICITATION PROCESS Offers should be presented in the form of a non-binding Letter of Intent delineating the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1. Purchase price 2. Due diligence and closing time frame 3. Earnest money deposit 4. Qualifications to close EXECUTIVE SUMMARY CITY CENTER | PORT ST. LUCIE CITY CENTER | PORT ST. 1 EXECUTIVE SUMMARY CITY CENTER PORT ST. LUCIE, FL 34952 EXECUTIVE SUMMARY Avison Young has been retained as the exclusive marketing agent for City Center located in Port St. Lucie. The entire property is comprised of 37 parcels comprising approximately 46 acres within St. Lucie County. This represents a fantastic investment opportunity to acquire a well-positioned property with almost unlimited development potential. This offering is for 22 parcels consisting of 21 acres of unique-use land that is fully developed with infrastructure including roads, water and sewer. City Center is well positioned and in one of South Florida’s best developed centers just minutes from US-1 as well as a multitude of educational institutions and entertainment options. The receiver has agreed to work with the city in order to maximize and coordinate a plan for development. Because of the complicated relationship between the original developer and the city, the receiver is seeking to connect with and establish a relationship with a master developer... a firm that would be able to add credibility to the project, attract qualified companies with developers for each, creating a balanced residential, retail and hospitality project. 2 CITY CENTER | PORT ST. LUCIE PORT ST. LUCIE... Conveniently located along Florida’s southeast coast between Central and South Florida markets – including Orlando, Miami, Fort Lauderdale and the Palm Beaches with easy access to Florida’s Turnpike and Interstate 95. Occupying 120 square miles and almost 200,000 residents, Port St. Lucie is the eighth largest city by population in Florida and the third largest in the South Florida region. For the past five years, Port St. Lucie has had the lowest crime rate among Florida’s large cities. Forbes.com named Port St. Lucie as one of the 10 best cities in the U.S. for job growth. EXECUTIVE SUMMARY Bloomberg Business says Port St. Lucie was be one of the leading cities in the nation to see economic growth in 2016. The City was ranked top in the nation for Millennials buying their first home, according to SmartAsset. Tradition, Port St. Lucie 4 PROPERTY OVERVIEW CITY CENTER | PORT ST. LUCIE CITY CENTER | PORT ST. 5 PHYSICAL DESCRIPTION • A 46-acre, shovel ready, well-designed, • Future Land Use: Commercial General, • St. Lucie West and the Town of Tradition market-driven opportunity for mixed High-Density Residential, and Institu- master-planned communities and the PROPERTY OVERVIEW used development; centrally located tional. world famous N.Y. Mets’ spring training along a major traffic corridor. facility – all within 10 miles. • Zoning: Planned Unit Development. • Anchored by the 100,000 SF city-owned • Less than an hour drive to Palm Beach, Civic Center, attracting a wide range of • Impact fee credits available. Martin and Indian River counties. regional visitors. • Urban street grid with on-street parking, • Nestled between surrounding counties • 20,000 square feet of meeting space, lighting, landscaping and irrigation. and communities with an average state-of-the-art fitness center and gym- household income of more than nasium, art gallery, outdoor stage, inter- • St. Lucie Medical Center, a 229-bed $70,000. active fountain, 800-space parking acute care facility, less than a mile away. garage, and a waterfront trail with paved • Surrounded by several pristine natural bicycle and pedestrian paths. • Treasure Coast Square Mall, a major attractions including the St. Lucie River regional shopping complex, within five and the Savannas Preserve State Park • 30 +/- acres of developable pads. miles. • Fully entitled for a variety of uses. • Half a mile south of the proposed Cross- town Parkway Bridge, soon to provide • Connected to a shared stormwater direct access to Interstate 95 from U.S. system, with wastewater and utility lines Highway 1. in place. 6 Port St. Lucie Civic Center CITY CENTER | PORT ST. LUCIE CITY CENTER | PORT ST. 7 AERIAL VIEW The City Center property as viewed SE VILLAGE GREEN DRIVE from above. 37 parcels across 46 WALTON ROAD acres. Shovel ready for development into an amazing mixed-use project. PROPERTY OVERVIEW US-1 N 8 WALTON ROAD SE VILLAGE GREEN DR. CITY CENTER | PORT ST. LUCIE CITY CENTER | PORT ST. US-1 9 N CURRENT PROPERTY OWNERSHIP US1 Real Estate Developments LLC | 22 Properties | FOR SALE BY COURT ORDER B. Davis Ventures, LLC | 1 Property | MAY BE AVAILABLE FOR FUTURE SALE OB Florida CRE Holdings LLC | 2 Properties | MAY BE AVAILABLE FOR FUTURE SALE City of Port St. Lucie | 12 Properties | MAY BE AVAILABLE FOR FUTURE SALE PROPERTY OVERVIEW CITY CENTER Port St. Lucie aerial showing subject property. 10 WALTON ROAD 2 3 4 SE VILLAGE GREEN DR. 1 8 5 29 9 6 30 7 10 14 31 11 13 37 12 15 32 18 17 28 16 23 33 19 22 CITY CENTER | PORT ST. LUCIE CITY CENTER | PORT ST. 35 20 US-1 34 27 21 26 36 24 25 11 N CURRENT PROPERTY PARCEL LISTING US1 Real Estate Developments LLC | 22 Properties | FOR SALE BY COURT ORDER B. Davis Ventures, LLC | 1 Property | MAY BE AVAILABLE FOR FUTURE SALE OB Florida CRE Holdings LLC | 2 Properties | MAY BE AVAILABLE FOR FUTURE SALE City of Port St. Lucie | 12 Properties | MAY BE AVAILABLE FOR FUTURE SALE PROPERTY OVERVIEW PARCEL ID NUMBERS AND ACREAGE 1 PRIVATE OWNED .94 20 3435-803-0027-000/5 0.74 2 3435-803-0009-000/3 1.31 21 3435-803-0028-000/2 1.64 3 3435-803-0010-000/3 1.41 22 3435-803-0029-000/9 0.63 4 3435-803-0011-000/0 1.43 23 3435-803-0030-000/9 0.71 5 3435-803-0012-000/7 0.19 24 3435-803-0031-000/6 0.66 6 3435-803-0013-000/4 0.14 25 3435-803-0032-000/3 2.53 7 3435-803-0014-000/1 1.32 26 PRIVATE OWNED 0.81 8 3435-803-0015-000/8 0.12 27 PRIVATE OWNED 1.53 9 3435-803-0016-000/5 0.12 28 3435-803-0035-000/4 1.84 10 3435-803-0017-000/2 0.04 29 3435-803-0036-000/1 0.68 11 3435-803-0018-000/9 0.18 30 3435-803-0037-000/8 0.78 12 3435-803-0019-000/6 0.22 31 3435-803-0038-000/5 1.34 13 3435-803-0020-000/6 0.41 32 3435-803-0039-000/2 2.31 14 3435-803-0021-000/3 0.24 33 3435-803-0040-000/2 0.91 15 3435-803-0022-000/0 1.28 34 3435-803-0041-000/9 1.43 16 3435-803-0023-000/7 0.26 35 3435-803-0042-000/6 0.04 17 3435-803-0024-000/4 0.47 36 3435-803-0043-000/3 2.55 18 3435-803-0025-000/1 0.26 37 3435-803-0044-000/0 5.62 19 3435-803-0026-000/8 1.35 12 CITY CENTER - PROJECT BACKGROUND The City Center Project was planned as a multi-year redevelopment Pursuant to the Redevelopment Agreement, the City and the Agency project that would transform a suburban shopping center at the southeast funded and constructed the 100,000 S.F.