offering memorandum capital markets | net lease …...plaza (138,400 aadt) s. sr 7/u.s.-441 s....

6350 STIRLING ROAD, DAVIE, FLORIDA

OFFERING MEMORANDUM Capital Markets | Net Lease Properties

REPRESENTATIVE PHOTO

MARK DRAZEKSenior Vice President Capital Markets | Net Lease Properties

CBRE, Inc. Licensed Real Estate Broker

RAY ROMANOFirst Vice President Capital Markets | Net Lease Properties

+1 407 404 [email protected]

EXCLUSIVELY MARKETED BY:

© 2017 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.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.

Stirling Rd (42,000 AADT)

N

1INVESTMENT SUMMARY

Investment HighlightsProperty Description

2PROPERTY DESCRIPTION

Property PhotosAerial Photos

Site Plan

8AREA OVERVIEW

Market OverviewLocal & Regional Maps

Drive=Time Map

Tenant Description

14TENANT SUMMARY N

Future 6,500 SF Retail/Restaurant


(21,4

00 A

ADT

)

Davie Rd Extension (

20,4

00 A

ADT

)

Carrriage Hills Plaza

(138

,400

AA

DT)

S. S

R 7

/U.S

.-44

1 S.

Manheim Auto Auction

Summit-Questa Montessori School

(Pre-K - 8th)

St. Bernadette Catholic School

(K - 8th)

Stirling Village92-unit multi-famil

1

WAWA | DAVIE

investment highlights• One of the first Wawa locations to open in Broward County

• Brand new 20 year ground lease

• Investment grade credit – Shadow rating: BBB

• Fixed rental increases throughout entire lease starting at year 11

• No landlord management obligations

• Hard corner signalized intersection, combined average daily traffic of 62,400 vehicles

• Densely populated area of South Florida, over 132,000 people within 3-miles and over 375,000 within 5 miles

• Upper income area with average household incomes of over $71,000 within 3 miles and $74,000 within 5 miles

• Within one mile of the Seminole Hard Rock Hotel & Casino

• Large efficient parcel

• No debt to assume – Able to pay all cash

• Florida has no state income tax

INVESTMENT SUMMARY

investment summaryPRICE: $6,744,186

ANNUAL RENT: $290,000

CAP RATE: 4.3%

TENANT: Wawa Florida, LLC

GUARANTOR: Wawa, Inc.

RENTAL INCREASES: 8% every 5 years starting at year 11 including options

INITIAL LEASE TERM: 20 years

OPTIONS: (6) 5-year options

RENT COMMENCEMENT: July 27, 2017

LANDLORD OBLIGATIONS: None – Absolute NNN ground lease

EXISTING FINANCING: No debt to assume

BUILDING SIZE: 8,000± SF

LAND SIZE: 2.42± acres

PARKING SPACES: 57 spaces (7.1/1,000 SF)

YEAR BUILT: 2017

CBRE is pleased to present this brand new 20-year absolute NNN Wawa ground lease located in Davie, Florida. The brand new store consists of an

8,000+ SF building on 2.42 acres in a densely populated area of South Florida. The lease is absolute NNN with no landlord management obligations and offers fixed rental increases throughout the initial term and renewal options.

The store’s grand opening, which was held on July 27th, was attended by hundreds of local residents who lined up down the block starting at 5:30am according to the South Florida Business Journal.

Wawa is a highly sought after investment grade tenant ranked #40 in Forbes top private companies with $9B in revenue.


2PROPERTY DESCRIPTION

property descriptionLOCATION

6350 Stirling Road Davie (Broward County), FL 33024

BUILDING AREA

The subject consists of one (1) retail building totaling approximately 8,000 SF of net rentable area.

TRAFFIC COUNTS

Stirling Road 42,000 AADT

Davie Road Extension 20,400 AADT

Davie Road Extension (N of Property) 21,400 AADT

Florida Turnpike 138,400 AADT

SITE

The subject is located at the signalized intersection of Stirling Road & Davie Road Extension in Davie, Florida, 8 miles West of Downtown Ft. Lauderdale, 5 miles West of I-95, and 8 miles East of I-75.

LAND AREA

The Property consists of one (1) parcel totaling approximately 2.417 acres or 105,415 SF of land area.

PARKING

The Property provides 57 parking stalls which equates to 7.125:1,000 SF parking ratio.


3

WAWA | DAVIE

N



Stir

ling

Rd (

42,0

00 A

ADT

)

(21,400 AADT)

Davie Rd Extension (20,400 AADT)

(138,400 AADT)

Manheim Auto Auction

FT. LAUDERDALE-HOLLYWOOD INTERNATIONAL AIRPORT

HOLLYWOOD

DOWNTOWNFORT LAUDERDALE

95

Stirling Village92-unit multi-family

built 2016

4

WAWA | DAVIE




(21,4

00 A

ADT

)

Davie Rd Extensio

n (20,4

00 AADT)

(138,400 AADT)Griffin Rd

N

Florida Power & Light Service Center


built 2016

Nova School Complex(Private K-12

& Public K-12)

5

WAWA | DAVIE

N


SOLANO AT MONTERRA

Stirling Rd (42,000 AA

DT)

(21,400 AADT)

Davie Rd Extension (20,400 AADT)

N. University Dr (46,000 AADT)

David Posnack Jewish Day School

Lakeside Town Shops

Florida Power & Light Service

Center

St. Bernadette Catholic School

(K - 8th)


built 2016


Palm Ranch 224 unit luxury

apartments

COOPER CITY

PEMBROKE PINES

6

WAWA | DAVIEN


(21,400 AA

DT)


Florida Power & Light Service

Center

Driftwood Elementary, Middle & Junior High

School


NORTH PERRY AIRPORT

Dav

ie R

d Ex

tens

ion

(20

,400 A

ADT)

(138,400 AADT)


built 2016

Hard Rock Stadium

7

WAWA | DAVIE

SITE PLAN

DRYRETENTION

AREA.

LAN

DSC

APE

LANDSCAPE

X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

PARCEL AREA BREAKDOWN

8

WAWA | DAVIE

AREA OVERVIEW

Broward County 2017 OutlookThe Broward County retail market is one of three parts of the larger Miami metro retail market. The other two markets being Palm Beach County and Miami. Broward contains about one-third of the retail product in the market. Like much of Florida, the retail market is largely driven by the tourism industry. However, strong residential growth is having a positive effect on the retail market as well.

The economy in Broward County is making steady progress. The market has an unemployment rate that is among the lowest in the state, however this growth is largely concentrated in low-wage industries like administration and leisure/hospitality, which have accounted for more than half of the employment growth in the last 12 months. Despite this, wages are growing in the face of a dwindling supply of labor. Low-cost, no-frills airlines have grown in Broward County. This is good news for Broward County because lower fares attract more vacationers and conventioneers in support of the area’s pivotal leisure and hospitality industry.

Continued positive job growth, and declining unemployment are helping to fuel Broward County’s retail sector. About one million sq. ft. of space was constructed during 2016. An additional 1.3 million is expected to be delivered in 2017. A national trend that is evident in Broward is the preference towards mixed use development. A notable example is Pembroke Pines City Center, which will include 200,000 sq. ft. of retail space in Phase I anchored by a Publix supermarket. The total project sits on a 17-acre site and will be constructed in two phases. Phase II will include another 100,000 sq. ft. of retail occupied by theater and restaurant tenants in addition to 385 apartments.

Strong long-term demographic trends bode well for the Broward Count retail market. Much like the rest of the country, the most attractive investment sites are well-positioned grocery anchored centers. Broward County cap rates have steadily declined as sites have become scarcer as investors are competing to acquire quality assets in prime locations. As growth continues in the market, and tourism sustains its rapid growth, expect the Broward County retail market to outperform.

© 2017 CBRE, Inc. | Disclaimer: Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to confirm independently its accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE.

To learn more about CBRE

Research, or to access additional

research reports, please visit the

Global Research Gateway at

www.cbre.com/research.

Abu Mansoor

Senior Research Analyst

+1 561 393 1607

[email protected]

Figure 1: Total Market Absorption and Deliveries

2017 SOUTHEAST U.S. REAL ESTATE MARKET OUTLOOK

BROWARD COUNTY

Source: CBRE Research, Q4 2016; CBRE Econometric Advisors (EA), Q4 2016.

Figure 2: Asking Rates and Total Market Availability


The Broward County retail market is one of three parts of the

larger Miami metro retail market. The other two markets being

Palm Beach County and Miami. Broward contains about one-

third of the retail product in the market. Like much of Florida,

the retail market is largely driven by the tourism industry.

However, strong residential growth is having a positive effect on

the retail market as well.

The economy in Broward County is making steady progress. The

market has an unemployment rate that is among the lowest in the

state, however this growth is largely concentrated in low-wage

industries like administration and leisure/hospitality, which have

accounted for more than half of the employment growth in the

last 12 months. Despite this, wages are growing in the face of a

dwindling supply of labor. Low-cost, no-frills airlines have grown

in Broward County. This is good news for Broward County

because lower fares attract more vacationers and conventioneers

in support of the area’s pivotal leisure and hospitality industry.

Continued positive job growth, and declining unemployment are

helping to fuel Broward County’s retail sector. About one million

sq. ft. of space was constructed during 2016. An additional 1.3

million is expected to be delivered in 2017. A national trend that

is evident in Broward is the preference towards mixed use

development. A notable example is Pembroke Pines City Center,

which will include 200,000 sq. ft. of retail space in Phase I

anchored by a Publix supermarket. The total project sits on a

17-acre site and will be constructed in two phases. Phase II will

include another 100,000 sq. ft. of retail occupied by theater and

restaurant tenants in addition to 385 apartments.

Strong long-term demographic trends bode well for the Broward

Count retail market. Much like the rest of the country, the most

attractive investment sites are well-positioned grocery anchored

centers. Broward County cap rates have steadily declined as sites

have become scarcer as investors are competing to acquire quality

assets in prime locations. As growth continues in the market, and

tourism sustains its rapid growth, expect the Broward County

retail market to outperform.

Long-term growth to keep retail vibrant in Broward, development activity to accelerate

RETAIL

Net AbsorptionDeliveries EA Forecast

Local Market Forecast

Net Absorption (MSF)

0.0

0.5

1.0

1.5

2.0

2013 2014 2015 2016 2017 2018

Asking Rate (L)Availability (R) EA Forecast

Local Market Forecast

Asking Rate ($ PSF NNN) Availability Rate (%)

6

7

8

9

10

18

19

20

21

22

2013 2014 2015 2016 2017 2018

Total Market Absorption and Deliveries


9

WAWA | DAVIE

DavieThe Town of Davie’s diversified economic base combined with a low rate of taxation work to create a healthy local economy. The Town of Davie is a warm, close-knit community with a rich heritage and many connections to the past. The Town is fortunate to draw from its pioneer families the history of the area and the stories of those who first helped to develop the Town. Over a century ago, Davie was known as Zona, and was a vast agricultural land that struggled to support its community. Today, the Town of Davie is a dynamic and unique community located in the heart of one of the state’s highest growth areas.

Source: Town of Davie

Huge crowd greets Wawa for Broward openingHundreds of people turned out for the first Wawa store openings in Broward County on Thursday.

People lined up down the block as early as 5:30 a.m. for the store at 6350 Stirling Road in Davie in advance of the opening at 8 a.m. and the 10 a.m. celebration. Many in the crowd came with Wawa shirts, hats and buttons, even though the Pennsylvania-based gas and food store chain has only been in Florida for five years and has never been this far south.

The below-market gas prices at Wawa and its selection of fresh food, such as hoagies, pastries, sandwiches and chilled beverages, are a proven draw for customers. Rarely does a convenience store opening drawn such an enthusiastic crowd, with people parking a block away and walking, even rolling baby strollers to the new store.

“I am thrilled by the reception,” Wawa Executive VP and COO Cathy Polus said. “It is a bit overwhelming, but that is the norm for us at these openings…There is tremendous love and loyalty for the brand.”

Wawa now has 130 Florida stores, Polus said. Three more stores will open in Broward by the end of 2017. The company has 27 sites under contract in South Florida, including 17 in Broward and four in Palm Beach, she said.

Polus said Broward and Palm Beach counties will eventually have at least 50 Wawa stores. She’s also working hard to find locations in Miami-Dade County, although that has been more challenging. The Business Journal has identified four Miami-Dade Wawa locations in the approvals process.

Ron Brill, a member of Wawa’s real estate development team, said one difficulty in Miami-Dade has been finding large enough sites to handle frequent customer traffic. The typical store needs 1.5 to 2 acres and land values in Miami-Dade, especially in urban areas, are expensive. Going through the approvals process in Miami-Dade has also proven tougher, Brill said.

Source: Brian Bandell, Senior Reporter, South Florida Business Journal, Jul 27, 2017

AREA OVERVIEW

distance to

6Hollywood

miles8Fort

Lauderdale

miles 18Miami

miles

50West Palm

Beach

miles

192Orlando

miles

193Tampa

miles

10

WAWA | DAVIE

AREA OVERVIEW

Hard Rock Hotel & Casino100-acre, AAA Four-Diamond rated Seminole Hard Rock Hotel & Casino in Hollywood offers 469 rock star suites, signature and award-winning restaurants, a 5,500-seat Hard Rock Live arena featuring performances from today’s most popular musicians and comedy acts, a 4.5 acre tropical pool oasis & Beach Club, a full-service Rock Spa, fitness center, high-energy nightlife, and convention space.

Construction of an iconic hotel tower and resort, with expansion planned through 2019, is underway. The complex is 1.5 miles east of Wawa. The tower will include: Modern Luxury Suites & Private Villas, Premium Gaming, Award Winning Dining, Elevated Daylife & Nightlife, World Class Entertainment, and Outdoor Oasis & Lagoons.

Nova Southeastern UniversityNova Southeastern University’s main campus in Davie, FL is situated on 300 acres and has over 24,000 enrolled students. NSU is a private, selective, research university and the largest private, not-for-profit institution of higher education in Florida. The university offers innovative education programs for students in preschool through grade 12, local seniors, and individuals with Autism. NSU’s 314-acre Fort Lauderdale/Davie Campus provides a complete university experience including undergraduate academic opportunities like a health care clinical shadowing program, travel study, and internships, as well as on-campus housing, NCAA Division II athletics, fraternities and sororities, and more. NSU has 83 programs that are certified by the Southern Regional Education Board for distance learning.

NSU research is supported by 93 external agencies, including the U.S. Department of Health and Human Services, National Institutes of Health, U.S. Department of Education, National Oceanic and Atmospheric Association, and U.S. Centers for Disease Control and Prevention. External research funding increased 125 percent over the past decade, from $34.1 million in FY 2005 to $82 million in FY 2015. NSU is one of 50 universities in the nation with both the Carnegie Foundation classification of High Research Activity and Community Engagement. There are 200 research projects currently under way. They address such critical areas as anti-cancer therapies; cardiovascular disease; chronic fatigue syndrome; autism; coral reef restoration; stem cells; and wildlife DNA forensics. This complex is 3 miles north of Wawa, with student housing spread throughout Davie.

Headliner Expansion Coming 2019

Seminole Hard Rock Hotel & Casino

NSU Main Campus, Davie

11

WAWA | DAVIE

DEMOGRAPHIC BRIEF

NEW MARKER

1 MILE 3 MILES 5 MILES

2017 Population - Current Year Estimate 15,938 132,731 375,295

2022 Population - Five Year Projection 17,327 141,142 395,299

2010 Population - Census 14,374 119,975 348,626

2000 Population - Census 13,766 113,069 330,542

2010-2017 Annual Population Growth Rate 1.43% 1.40% 1.02%

2017-2022 Annual Population Growth Rate 1.69% 1.24% 1.04%

2017 Households - Current Year Estimate 5,801 47,699 136,883

2022 Households - Five Year Projection 6,268 50,514 143,473

2010 Households - Census 5,294 43,549 128,580

2000 Households - Census 5,214 42,363 124,831

2010-2017 Annual Household Growth Rate 1.27% 1.26% 0.87%

2017-2022 Annual Household Growth Rate 1.56% 1.15% 0.94%

2017 Average Household Size 2.74 2.76 2.72

2017 Average Household Income $55,266 $71,313 $74,088

2022 Average Household Income $63,158 $80,794 $83,418

2017 Median Household Income $41,906 $53,021 $53,838

2022 Median Household Income $46,655 $58,342 $59,326

2017 Per Capita Income $20,461 $25,955 $27,237

2022 Per Capita Income $23,223 $29,242 $30,472

2017 Housing Units 6 ,299 51 ,644 150 ,106

2017 Vacant Housing Units 498 7.9% 3,945 7.6% 13,223 8.8%

2017 Occupied Housing Units 5,801 92.1% 47,699 92.4% 136,883 91.2%

2017 Owner Occupied Housing Units 3,342 53.1% 29,944 58.0% 88,456 58.9%

2017 Renter Occupied Housing Units 2,459 39.0% 17,755 34.4% 48,427 32.3%

2017 Population 25 and Over 10 ,766 91 ,249 261 ,686

HS and Associates Degrees 7,166 66.6% 56,291 61.7% 156,216 59.7%

Bachelor's Degree or Higher 2,094 19.5% 23,695 26.0% 75,466 28.8%

2017 Businesses 557 5,955 16,145

2017 Employees 3,804 53,478 158,899

©2017 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are forexample only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the propertyfor your needs. Source: Esri Page 1 ProjectID:221556

POPULAT ION

HOUSEHOLDS

HOUSEHOLD INCOME

HOUS ING UN ITS

EDUCAT ION

PLACE OF WORK

DEMOGRAPHIC BRIEF

NEW MARKER

NAME LATITUDE LONGITUDE

NEW MARKER 26.0455151151764 -80.2307027578354

©2017 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are forexample only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the propertyfor your needs. Source: Esri ProjectID:221556

AREA OVERVIEW

12

WAWA | DAVIE

AREA OVERVIEW

13

WAWA | DAVIE

AREA OVERVIEW

14

WAWA | DAVIE

Founded in 1803 by the Wood family and incorporated in 1865, Wawa, Inc. (the “Company” or “Wawa”) has roots in the manufacturing and textile businesses. The first Wawa Food Market opened on April 16, 1964. Today, the Company operates approximately 570 convenience stores, approximately 270 of which include a fuel offering, in Pennsylvania, New Jersey, Delaware, Maryland and Virginia. Wawa is a privately held company, with a majority of the Company stock still owned by the Wood family. Company associates who participate in the Employee Stock Ownership Plan have a nearly 30% ownership stake.

Wawa offers a large fresh foodservice selection, including freshly brewed coffee, a wide selection of delicatessen and dairy products, fresh produce, hot foods, built-to-order sandwiches and Wawa brands such as juices, teas, water and bakery products. The Company’s revenue principally consists of fuel and merchandise sales. The Company operates a dairy manufacturing facility, producing Wawa branded beverages and dairy products for distribution to, and sale in, its stores and to wholesale customers. The Company has a committed fuel storage terminal for the purpose of both storing fuel for distribution to, and sale in, its stores and for holding and selling fuel in wholesale markets.

Wawa has differentiated itself from its competitors by focusing on several key strategic areas:• Delivering fast and friendly customer service in a safe and clean shopping

environment;• Promoting and developing Wawa-branded food, beverage and fresh food items;• Maintaining world-class facilities by systematically opening new stores, closing

marginal stores and remodeling older stores; and• Maximizing operating efficiency by making significant investments in operations

programs and technology.

Wawa exceeds industry norms in virtually every measurable category (Source: NACS State of the Industry Report of 2009 Data – most recent industry data available)• Wawa merchandise sales per store averaged $4.9 million for the year ended 2009

versus an industry average of $1.5 million for 2009• Gasoline sales totaled 1.4 billion gallons for the year 2009, an average of 101,000

gallons per fuel store week or just under four times the industry average of approximately 28,000 gallons per fuel store week in 2009

• Incorporated in 1865• #40 in Forbes Ranking of America’s Largest Private

Companies• Shadow Rated: BBB• 570 locations in the United States – All Company Owned

and Operated• Exceeds industry norms in virtually every measurable

category


WAWA, INC.www.wawa.com

TENANT DESCRIPTION

http://www.wawa.com

15

WAWA | DAVIE

AFFILIATED BUSINESS DISCLOSURE

CBRE operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

CONFIDENTIALITY AGREEMENT

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the property or the owner of all Property (the”Owner”), to be all-inclusive or to contain all or part of the information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors being the control of the Owner and CBRE,Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or CBRE, Inc., nor any of their respectful directors, officers, Affiliates or representatives make an representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

DISCLAIMER

2017 CBRE, Inc. The information containing in this document has been obtained for sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property, The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

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.

CONFIDENTIAL MEMORANDUM & DISCLAIMER

MARK DRAZEKSenior Vice President Capital Markets | Net Lease Properties

+1 407 404 [email protected]

CBRE, Inc. | Licensed Real Estate Broker

RAY ROMANOFirst Vice President Capital Markets | Net Lease Properties

© 2017 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.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.

EXCLUSIVELY MARKETED BY


offering memorandum capital markets | net lease …...plaza (138,400 aadt) s. sr 7/u.s.-441 s....

Documents