SINGLE TENANT NET LEASED INVESTMENT OFFERING VERIZON WIRELESS PRIME RETAIL LOCATION OCALA, FLORIDA SINGLE TENANT INVESTMENT OPPORTUNITY Representative Photo FOR MORE INFORMATION CONTACT: Ray Romano First Vice President Net Lease Properties +1 407 404 5022 ray.romano@cbre.com Mark Drazek Senior Vice President Net Lease Properties mark.drazek@cbre.com CBRE, Inc. Licensed Real Estate Broker
CONFIDENTIAL MEMORANDUM & DISCLAIMER This Offering Memorandum was prepared by CBRE, Inc. ( Broker ) solely for the use of prospective purchasers of Verizon Wireless 3451 SW College Road, Ocala, Florida 34474 (the Property ). Neither the Broker nor the owner of the Property ( Owner ) makes any representation or warranty, expressed or implied, as to the completeness or accuracy of the material contained in the Offering Memorandum. Prospective purchasers of the Property are advised that changes may have occurred in the physical or financial condition of the Property since the time this Offering Memorandum or the financial statements therein were made by Broker and not by Owner and are based upon assumptions or events beyond the control of Broker and Owner, and therefore may be subject to variation. Other than historical revenue and operating expense figures for the Property, Owner has not, and will not, provide Broker or any prospective purchaser with any income or expense figures, budgets, or projections regarding the Property. Prospective purchasers of the Property are advised and encouraged to conduct their own comprehensive review and analysis of the Property. The Offering Memorandum is a solicitation of interest only and is not an offer to sell the Property. The Owner and Broker expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and expressly reserve the right at their sole discretion, to terminate discussions with any entity at any time with or without notice. The owner shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless and until such offer for the Property is approved by owner pursuant to its Finance Committee authorities and the signature of the Vice President or Owner is affixed to a Real Estate Purchase Agreement prepared by Owner. This Offering Memorandum is confidential. By accepting the Offering Memorandum, you agree (i) that you will hold and treat the Offering Memorandum and its contents in the strictest of confidence, (ii) that you will not photocopy or duplicate any part of the Offering Memorandum, (iii) that you will not disclose the Offering Memorandum or any of its contents to any other entity without the prior written authorization of the Owner, and (iv) that you will not use the Offering Memorandum in any fashion or manner detrimental to the Owner or Broker. 2016 CBRE, Inc. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. Licensed Real Estate Broker. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Disclaimer
EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS: Free-standing Verizon Wireless store constructed in 2014 Investment grade tenant subsidiary of Verizon Communications, the nation s largest wireless carrier boasting an S&P rating of BBB+ Prime Central Florida retail/interstate location Outparcel to Home Depot, in a strong retail corridor home to a variety of national retailers Lowe s, Petsmart, Sam s Club, Dick s Sporting Goods, Sports Authority, Kohl s, Dillard s, Macy s, Chick-fil-a, Chili s, Outback Steakhouse and more Excellent low rate debt to assume Limited Landlord Obligations Fixed rental rate increases Florida has NO STATE INCOME TAX Price: $3,412,500 Annual Rent: Years 1-5 $204,750 Years 6-10 $225,225 Cash Flow: $54,709 through 10/2019 $75,184 through 10/2024 Required Equity: $1,090,000 Cap Rate: 6.0% Tenant: Verizon Wireless Personal Communications LP Rental Increases: 10% every 5 years including options Initial Lease Term: 8.6 years remaining on 10 year term * Options: Two 5-year renewal options Rent Commencement: October 5, 2014 Landlord Obligations: Roof, structure, foundation and parking area Existing Financing: $2,320,000 at 3.82%, 25 year amortization, matures Sept. 29, 2019, Monthly P&I $12,503.44 (must be assumed) Building Size: 4,500 SF Land Size: 1.25 Acres Parking Spaces: 75 Year Built: 2014 Executive Summary Representative Photo 1 * Tenant must pay a fee equal to 2 years rent plus taxes and insurance if they exercise a termination right after 5 years.
SW le ge Co l Rd 0 50 4, (4 DT ) AA (60,500 AADT) N Aerial Photographs AERIAL PHOTOGRAPHS 75 2
SW Co lle ge Rd 0 50 4, (4 ) DT AA (60,500 AADT) N Aerial Photographs AERIAL PHOTOGRAPHS 75 SAM S CLUB 3 WALMART SUPERCENTER
SITE PLAN Site Plan 4
PROPERTY LOCATOR MAPS Property Locator Maps 5
PROPERTY LOCATOR MAPS Property Locator Maps 6
PROPERTY LOCATOR MAPS Property Locator Maps 7
DEMOGRAPHICS 3 Miles 5 Miles 10 Miles Demographics 2015 Population 26,639 62,470 191,183 2020 Population 28,192 65,081 199,501 2010 Population 25,246 60,529 184,969 2000 Population 18,100 47,653 139,486 Percent Pop Change: 2010 to 2015 5.52% 3.21% 3.36% Percent Pop Change: 2015 to 2020 5.83% 4.18% 4.35% Race and Ethnicity - White 17,178 44,134 145,077 - African American 5,901 12,226 29,631 - Asian 1,243 1,993 4,099 - Native Hawaiian/Pacific Islander 12 40 132 - American Indian/Alaska Native 106 279 820 - Some Other Race 1,277 2,098 6,545-2 or More Races 922 1,700 4,879 - Hispanic 5,262 8,815 25,453 - Not Hispanic/Latino, White 13,779 38,354 128,660 2015 Median Age 36.07 42.52 46.00 2015 Average Age 38.87 42.73 44.53 2015 Households 10,358 25,963 79,443 2020 Households 10,910 27,076 82,908 2010 Households 9,953 25,161 76,920 2000 Households 6,994 19,167 57,822 Percent HH Change: 2010 to 2015 4.07% 3.19% 3.28% Percent HH Change: 2015 to 2020 5.33% 4.29% 4.36% Average Household Size 2.32 2.28 2.34 2000 Average Household Income $44,388 $45,839 $43,684 2015 Average Household Income $53,687 $55,547 $52,297 2020 Average Household Income $55,018 $56,953 $53,675 2000 Median Household Income $27,772 $30,978 $32,882 2015 Median Household Income $34,424 $36,589 $37,957 2020 Median Household Income $35,608 $37,932 $38,901 2015 Per Capita Income $20,876 $23,086 $21,731 2015 Median Home Value $118,441 $129,327 $116,099 2015 Average Home Value $180,761 $187,999 $167,520 Total Businesses 3,103 6,561 11,324 Daytime Employment (Total Employees) 40,606 71,814 107,361 8
TENANT DESCRIPTION Verizon Wireless www.verizon.com NYSE: VZ Verizon Communications Inc., through its subsidiaries, provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company s Wireless segment offers wireless voice and data services; messaging services; service that enables its customers to access the Internet on smartphones, basic phones, notebook computers, and tablets; customers and business-focused multimedia offerings; location-based services; global data services; LTE Internet, a high-speed Internet service; and network access and value added services to support telemetry-type applications. It also offers machine-to-machine services that support devices used in health monitoring, education, manufacturing, utilities, distribution, and consumer products markets, as well as offers smartphones and basic phones, tablets, and other Internet access devices. As of October 12, 2015, it had 109.5 million retail connections. Its Wireline segment provides high-speed Internet, FiOS Internet, and FiOS Video services; voice services, such as local exchange, regional and long distance calling, and voice messaging services, as well as VOIP services; private Internet protocol and Ethernet access and optical services; and Internet protocol, infrastructure and cloud services, machine-to-machine services, security, and other communications services. It also offers voice and data services, such as conferencing and contact center solutions, and private line and data access networks, as well as customer premise equipment, installation, maintenance, and site services; and data, voice, local dial tone, and broadband services primarily to local, long distance, and other carriers. The company has a strategic partnership with AdMobilize. The company was formerly known as Bell Atlantic Corporation and changed its name to Verizon Communications Inc. in June 2000. Verizon Communications Inc. was founded in 1983 and is based in New York, New York. Tenant Description 9
SINGLE TENANT NET LEASED INVESTMENT OFFERING VERIZON WIRELESS PRIME RETAIL LOCATION OCALA, FLORIDA SINGLE TENANT INVESTMENT OPPORTUNITY Representative Photo FOR MORE INFORMATION CONTACT: Ray Romano First Vice President Net Lease Properties +1 407 404 5022 ray.romano@cbre.com Mark Drazek Senior Vice President Net Lease Properties mark.drazek@cbre.com CBRE, Inc. Licensed Real Estate Broker