potentially eligible for bonus or accelerated depreciation ...€¦ · location.7-eleven is...

EXCLUSIVE OFFERING | $6,936,000

7-Eleven, INC. – Corporate ABSOLUTE NNN

Celebration Blvd & World dr, celebration, fl (Orlando)

214.915.8890

RUSSELL SMITH

[email protected]

BOB MOORHEAD

[email protected]

Property. New Construction. Approximately 3,114+ SF building on 1.44+ acre site.

Tenant. Lessee: 7-Eleven, Inc. Operates in 18 countries and employs over 45,000 people. Founded in 1927 and headquartered in Dallas, Texas.

S&P Rated AA-. Largest chain store operator worldwide with some 60,000 stores, 10,700+ are in North America.

Lease structure. New, 15-year, corporate absolute NNN with 10% rent increases every 5-years beginning after year 10.

Location. 7-Eleven is strategically located at the northwest quadrant of World Dr. (32,000 VPD) and Celebration Blvd. (9,000 VPD) in Celebration, FL. The

subject property will benefit as it is in close proximity to world class tourist destinations such as Disney World, Universal Studios, and SeaWorld, which experienced

68 million visitors in 2016. Traffic volumes, growth, and accessibility of the immediate trade area have attracted numerous nationally known retail brands to the

trade area. The subject property is surrounded by notable national credit tenants such as Publix, CVS, Walgreens, Pep Boys, Applebee’s, Red Lobster, Panera,

Checkers, Sizzler, Perkins, Five Guys, Denny’s, IHOP, Chipotle, Starbucks, Chick-fil-A, Dunkin Donuts, Wendy’s, McDonald’s, KFC, Burger King, Pizza Hut,

Jimmy John’s, and many more. 7-Eleven is approximately 9-miles from Disney World, 11-miles from SeaWorld, 14-miles from Universal Studios, and 22-miles

from downtown Orlando, FL.

68 Million AnnualVisitors

$50 billion Econ Impact

Close Proximity to Disney World

SITE RENDERING

Potentially Eligible For Bonus or accelerated depreciation

Table of contents | Disclaimer 7-Eleven, INC.


Trivanta (“Agent”) has been engaged as an agent for the sale of the property located at

Celebration Blvd. & World Dr., Celebration, FL the owner of the Property (“Seller”). The

Property is being offered for sale in an “as-is, where-is” condition and Seller and Agent

make no representations or warranties as to the accuracy of the information contained in

this Offering Memorandum. The enclosed materials include highly confidential information

and are being furnished solely for the purpose of review by prospective purchasers of the

interest described herein. The enclosed materials are being provided solely to facilitate the

prospective investor’s own due diligence for which it shall be fully and solely responsible.

The material contained herein is based on information and sources deemed to be reliable,

but no representation or warranty, express or implied, is being made by Agent or Seller or

any of their respective representatives, affiliates, officers, employees, shareholders,

partners and directors, as to the accuracy or completeness of the information contained

herein. Summaries contained herein of any legal or other documents are not intended to be

comprehensive statements of the terms of such documents, but rather only outlines of

some of the principal provisions contained therein. Neither the Agent nor the Seller shall

have any liability whatsoever for the accuracy or completeness of the information contained

herein or any other written or oral communication or information transmitted or made

available or any action taken or decision made by the recipient with respect to the Property.

Interested parties are to make their own investigations, projections and conclusions without

reliance upon the material contained herein. Seller reserves the right, at its sole and

absolute discretion, to withdraw the Property from being marketed for sale at any time and

for any reason. Seller and Agent each expressly reserves the right, at their sole and

absolute discretion, to reject any and all expressions of interest or offers regarding the

Property and/or to terminate discussions with any entity at any time, with or without notice.

This offering is made subject to omissions, correction of errors, change of price or other

terms, prior sale or withdrawal from the market without notice. Agent is not authorized to

make any representations or agreements on behalf of Seller. Seller shall have no legal

commitment or obligation to any interested party reviewing the enclosed materials,

performing additional investigation and/or making an offer to purchase the Property unless

and until a binding written agreement for the purchase of the Property has been fully

executed, delivered, and approved by Seller and any conditions to Seller’s obligations

hereunder have been satisfied or waived. By taking possession of and reviewing the

information contained herein, the recipient agrees that (a) the enclosed materials and their

contents are of a highly confidential nature and will be held and treated in the strictest

confidence and shall be returned to Agent or Seller promptly upon request; and (b) the

recipient shall not contact employees or tenants of the Property directly or indirectly

regarding any aspect of the enclosed materials or the Property without the prior written

approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied

or otherwise reproduced without the prior written authorization of Seller and Agent.

PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW

PAGE 1: COVER

PAGE 2: TABLE OF CONTENTS | DISCLAIMER

PAGE 12-13: LOCATION MAPS

PAGE 7: SITE PLAN

PAGE 9-11: LOCATION OVERVIEW

Disclaimer

PAGE 14: DEMOGRAPHICS

PAGE 4-5: AERIAL PHOTOS

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PAGE 8: SITE RENDERINGS

PAGE 6: MASTER SITE PLAN

Florida Broker of Record:

Stephen J. Noyola Commercial Property Ventures, Inc. | License # BK3051175

Investment overview7-Eleven, INC.


Tenant overview7-Eleven, Inc., a Texas corporation

Lease overview

PRICE: $6,936,000

NET OPERATING INCOME: $329,436

BUILDING AREA (APPROX.): 3,114+ Square Feet

LAND AREA: 1.44+ Acres

YEAR BUILT: 2018

LANDLORD RESPONSIBILITY: None

OWNERSHIP: Fee Simple Interest

OCCUPANCY: 100%

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7-ELEVEN | www.7-eleven.com | S&P Rating: AA-

The brand name 7-Eleven is now part of an international chain of convenience stores, operating under Seven-Eleven Japan Co., Ltd., primarily operating

as a franchise. It is the largest chain store operator with approximately 60,000+ locations operating around the world, surpassing the previous record-holder

McDonald’s Corporation in 2007. Its stores are located in sixteen countries, with its largest markets being Japan, the United States, Canada, the Philippines,

Hong Kong, Taiwan, Malaysia and Thailand. 7-Eleven, Inc. as a former U.S.-originating company, is a subsidiary of Seven-Eleven Japan Co., Ltd, which

in turn is owned by Seven & I Holdings Co. of Japan. The US chain has its headquarters in downtown Dallas, Texas.

The company operates, franchises and licenses more than 10,700+ stores in the U.S. and Canada. Of the more than 10,700 stores the company operates and

franchises in the United States, approximately 8,000 are franchised. Outside of the U.S. and Canada, there are more than 44,700 7-Eleven and other convenience

stores in Japan, Taiwan, Thailand, South Korea, China, Malaysia, Mexico, Singapore, Australia, Philippines, Indonesia, Norway, Sweden and Denmark.

7-Eleven also is one of the nation’s largest independent gasoline retailers. Its company’s name was changed from The Southland Corporation to 7-Eleven, Inc.

after approval by shareholders on April 28, 1999.

7-Eleven focuses on meeting the needs of convenience-oriented customers by providing a broad selection of fresh, high-quality products and services at everyday

fair prices, speedy transactions and a clean and friendly shopping environment. Each store’s selection of about 2,500 different products and services is

tailored to meet the needs and preferences of local customers. Stores typically vary in size from 2,400 to 3,000 square feet and are most often located on corners

for great visibility and easy access. 7-Eleven Accolades include: Ranked #1 on Entrepreneur magazine’s 2017 Top Global Franchises List; Ranked #1 spot on

Entrepreneur magazine’s Franchise 500’s Top 10 Most Popular Retail Companies for 2016, and No.3 in Forbes magazine’s Top 20 Franchises to Start. 7-Eleven

is No. 5 on FranchiseRanking.com for Best Convenience Store Franchise Company USA, and among GI jobs magazine’s Top 100 Military Friendly Employers.

Projected Lease Expiration: August 2033

Projected Rent Commencement: August 2018

Lease Term: 15-Years, Plus (4), 5-Year Options to Extend

Rent Increases: 10% Every 5 Years beginning after Year 10

Lease Type: Corporate Absolute NNN

Annual Rent Yrs 1-10: $329,436

Annual Rent Yrs 11-15: $362,381

Option 1 | Yrs 16-20: $398,619

Option 2 | Yrs 21-25: $438,480

Option 3 | Yrs 26-30: $482,328

ROFO to Purchase: Yes

Option 4 | Yrs 31-35: $530,562

Aerial photo7-Eleven, INC.


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(Approx. 11-miles)

(Approx. 13-miles)

(Approx. 14-miles)

US 192 (76,000 VPD)

Disney’s Animal

Kingdom Park

Disney’s

Hollywood Studio

Disney’s Magic

Kingdom Park

Osceola Pkwy.(26,000 VPD)

Aerial photo7-Eleven, INC.


Celebration High

School

(2,242 students)

Florida Hospital

Celebration Hotel

(227 beds)

Artisan Park

Condominiums

Aviva at

Celebration

(306 units)

Mickey Mouse

Power Pole

Utility Company

5

Master SITE PLAN7-Eleven, INC.


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SITE PLAN7-Eleven, INC.


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SITE Renderings7-Eleven, INC.


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Location overview7-Eleven, INC.


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"7-Eleven® Tops Entrepreneur's 2017 Franchise 500 - Tuesday, January 10, 2017."Home -7-Eleven Corporate. N.Web. 05 July 2017.

Carston, Robert- The Park and Facilities Catalog (July 10, 2015) –When people gather in line for the newest monster roller coaster or flock to an amusement park named after the

latest superhero, few realize the enormous economic contribution theme parks make to the American economy. It’s encouraging. In this global battle for jobs, theme parks are one of

this country’s hot growth sectors. And attendance is growing. In 2015, there were an estimated 300 million visitors to America’s theme parks. That’s a 4% increase over the prior year

This fervor for theme parks is creating a ton of economic activity. In fact, there are 17, count them, 17 new roller coasters alone that opened in the US this year. According to the

International Association of Amusement Parks and Attractions, there are about 400 amusement parks and attractions in the US. The industry employs about 600,000 people year-

round. What’s really great is that considering America’s huge trade deficit with foreign countries where we spend more with them than they spend with us, theme parks are actually

bringing foreign dollars back to US soil. Just look at the economic impact in one state. Take Florida, which is certainly THE worldwide leader when it comes to theme parks. And theme

parks are a major reason why people come here.

The economic impact of theme parks in just one state

In case you lived in a cave this past century, Florida is theme park heaven. Here are the top theme parks in the Sunshine State and the number of annual visitors they

attract:

– Magic Kingdom – 19.3 million

– Epcot -11.5 million

– Disney’s Animal Kingdom – 10.4 million

– Disney Hollywood Studios – 10.3 million

– Universal Studios – 8.2 million

– Islands of Adventure at Universal Studios – 8.1 million

– SeaWorld – 4.7 million

– Busch Gardens Tamp Bay – 4.1 million

Now, think of the economic impact this has on the state and the country. In 2015, according to VisitFlorida.com (one of the state’s tourism websites), there were 97.3 million visitors to

the state. Of those, it is estimated that 11.5 million were from overseas, dropping their dollars into our pockets, thank you very much. From Canada there were about 4.2 million

visitors. Brazil follows with 1.7 million, then United Kingdom with 1.6 million. Nearly a million visitors also come from both Venezuela and Argentina each.

The state estimates tourism brings in a whopping $82 billion in spending. That translates to $4.9 billion in tax revenue, money that otherwise Floridians would have to dish out of their

own pockets for expenditures like roads, schools, police, etc. (That’s one reason why Florida is one of the few states without a state income tax). It’s difficult to determine the number

of foreign tourists who actually visit Florida theme parks. But if you’ve been to a Disney property or Universal Studios lately, you know they are there. You can see the foreign groups

with their brightly colored shirts and tour guides. You can hear them at the outlet malls filling up suitcases with merchandise.

This influx of foreign money into the economy is certainly welcome. The state Department of Economic Opportunity says that of the 9.1 million workers in Florida, 1.1 million of them

hold jobs directly attributed to tourism. That’s better than 1 in 10. Again, we would like to thank our friends from overseas. That’s certainly a job-creation engine if there ever was one.

Now, some might argue that a tourist-related job is not as lucrative as a job in manufacturing. But in these difficult times, a job is a job. (By the way, the IAAA found in a recent survey

that 28% of Americans said they would be interested in working for a theme park or an amusement company). This economic activity does not just involve people taking tickets at the

turnstiles either. Think of all the construction jobs created building all those new roller coasters and improvements at theme parks. Plus all the hotels and restaurants built to

accommodate those visitors.

What about all the construction materials that need to be manufactured? Then think of all the truck drivers and train engineers employed to deliver those goods. There are other

offshoots – commercial site amenities. When you build or expand a theme park, you need benches, trash receptacles, picnic tables, bollards, restroom equipment and supplies, etc.,

etc. How about food and beverages? Think of the enormous amount of food that is required every day to feed all those millions of people. That’s a lot of hamburgers, french fries,

Cokes and ice cream cones. Behind all this is an economic hot spot that is a supernova of growth for the American economy. Sure, some of these theme parks seem overcrowded.

But for all the people they employ, the taxes they generate and the money they draw to this country, we should be grateful, even if we have to stand in line for a few minutes.

How Economic Impact of Theme Parks Create Revenue Generating Thrill

Ride For US Click Here FOR ARTICLE

https://www.theparkcatalog.com/blog/theme-parks-economic-impact-growth/



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IMMEDIATE TRADE AREA

7-Eleven is strategically located at the northwest quadrant of World Dr. (32,000 VPD) and Celebration Blvd. (9,000 VPD) in Celebration, FL. World Dr. and Celebration

Blvd. are the two primary thoroughfares that serve the planned-community, while I-4 (114,000) is directly adjacent to their intersection. The subject property will benefit as

it is in close proximity to world class tourist destinations such as Disney World, Universal Studios, and SeaWorld, which experienced 68 million visitors in 2016.

Additionally, the immediate trade area features Celebration High School (2,242 students) and high average household incomes of $97,377 within a 1-mile radius. 7-

Eleven is approximately 9-miles from Disney World, 11-miles from SeaWorld, 14-miles from Universal Studios, and 22-miles from downtown Orlando, FL.

Traffic volumes, growth, and accessibility of the immediate trade area have attracted numerous nationally known retail brands to the trade area. The subject property is

surrounded by notable national credit tenants such as Publix, CVS, Walgreens, Pep Boys, Applebee’s, Red Lobster, Panera, Checkers, Sizzler, Perkins, Five Guys,

Denny’s, IHOP, Chipotle, Starbucks, Chick-fil-A, Dunkin Donuts, Wendy’s, McDonald’s, KFC, Burger King, Pizza Hut, Jimmy John’s, and many more.

CELEBRATION, FL

Celebration is town and master-planned community originally developed by the Walt Disney Company located Osceola County, FL. Celebration’s current population is

7,427. Subsequent to founding Celebration, Disney followed its plans to divest most of its control of the town. Several Disney business units continue to occupy the town's

office buildings, and two utility companies, Smart City Telecom and Reedy Creek Energy Services, both operated from Walt Disney World, provide services to the town.

The town itself remains directly connected to the Walt Disney World resorts via one of its primary streets, World Drive, which begins near the Magic Kingdom.

Celebration has successfully combined education, health, community, technology and architecture into a community with a strong sense of self. World-renowned

architects designed Celebration to be a new and exciting place to live, work and play.

Celebration Village, West Village and Lake Evalyn were Celebration’s first phase of development, with a total of approximately 500 home sites, including 76 townhomes,

and nearly 700 condominiums. The second phase of residential development was North Village, with more than 300 homes sites and 300 condominiums, followed by

South Village with over 600 home sites and townhomes and nearly 500 condominiums. Phase four was East Village and Aquila Reserve with a combined 500 homes and

townhomes and 70 condominiums. Artisan Park, Celebration’s last residential phase to date, is a 160-acre village built by St. Joe Company and contains more than 600

homes and condominiums The architecture blends traditional, Southeastern exteriors with floor plans and interiors that are designed for modern lifestyles and tastes.

DISNEY WORLD



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ORLANDO, FL

Orlando is a city in the US state of Florida, and is the county seat of Orange County. Located in Central Florida, it is the center of the Orlando metropolitan area, making it

the 26th largest metropolitan area in the US, the sixth largest metropolitan area in the southern US, and the third largest metropolitan area in the state of Florida. The City

of Orlando is nicknamed “the City Beautiful” and is known as “The Theme Park Capital of the World.” Orlando’s famous attractions form the backbone of its tourism

industry: Walt Disney World Resort, located approximately 21-miles southwest of Downtown Orlando in Lake Buena Vista, opened by the Walt Disney Company in 1971;

the Universal Orlando Resort, opened in 1999 as a major expansion of Universal Studios Florida; SeaWorld; Gatorland; and Wet ’n Wild. The city is also one of the

busiest American cities for conferences and conventions.

With record-breaking visitor volume and a thriving local economy with the second- highest national population growth since 2010, the Orlando retail market has

rebounded well from. Retail sales have picked up considerably and remain strong with sales volume exceeding the historical average. The strong rent growth and

low vacancies encouraged developers to increase activity, resulting in an uptick in supply since 2015. Despite the increase in construction, demand remains

strong and has outpaced deliveries to drive the vacancy down to levels not seen in almost a decade. Supported by a revitalization of the labor market, strong

population growth, and a resurgence in tourism, Orlando retail largely has outperformed the nation since the end of the recession. Additionally, the prime spending

cohort, 35–54-year-olds, is expected to grow faster here over the near term than in the National Index.

Similarly, the total population growth since 2010 has ranked amongst the best metros in the nation and the purchasing power likewise continues to grow

throughout Orlando. Additionally, record levels of tourism will help to ensure retail demand growth in the metro remains one of the strongest in the nation in upcoming

years. According to Visit Orlando, the City established a new record of visitors for 4 straight years, with 59.2 million visitors in 2013, becoming the first U.S. destination to

host more than 60 million visitors in 2014. Record was broken again in 2016 with 68 million visitors, respectively, resulting in an economic impact of $50 billion.

Additionally, Orlando International Airport also established a new record by processing nearly 42 million passengers.

ORLANDO

Location map7-Eleven, INC.


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Location map7-Eleven, INC.


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2017 Estimated Population 3,110 16,851 37,805

2022 Projected Population 3,824 20,850 46,026

2010 Census Population 1,544 10,058 22,453

2000 Census Population 569 3,584 10,425

Projected Annual Growth 2017 to 2022 4.6% 4.7% 4.3%

Historical Annual Growth 2000 to 2017 26.3% 21.8% 15.4%

2017 Estimated Households 1,235 6,590 14,403

2022 Projected Households 1,414 7,588 16,348

2010 Census Households 592 3,812 8,357

2000 Census Households 200 1,243 4,028

Projected Annual Growth 2017 to 2022 2.9% 3.0% 2.7%

Historical Annual Growth 2000 to 2017 30.4% 25.3% 15.2%

2017 Est. Population Under 10 Years 12.4% 12.9% 12.7%

2017 Est. Population 10 to 19 Years 11.3% 11.9% 12.4%





2017 Est. Population 75 Years or Over 4.7% 4.3% 4.4%

2017 Est. Median Age 35.8 34.7 34.5

2017 Est. Male Population 47.5% 47.8% 48.3%

2017 Est. Female Population 52.5% 52.2% 51.7%

2017 Est. Never Married 22.5% 25.5% 34.2%

2017 Est. Now Married 59.9% 55.2% 46.6%

2017 Est. Separated or Divorced 15.4% 16.2% 15.7%

2017 Est. Widowed 2.3% 3.1% 3.5%

2017 Est. HH Income $200,000 or More 18.4% 14.0% 7.4%

2017 Est. HH Income $150,000 to $199,999 7.7% 6.5% 4.7%

2017 Est. HH Income $100,000 to $149,999 19.6% 17.7% 13.8%

2017 Est. HH Income $75,000 to $99,999 16.0% 14.6% 15.6%

2017 Est. HH Income $50,000 to $74,999 17.7% 19.0% 20.3%

2017 Est. HH Income $35,000 to $49,999 10.0% 12.2% 15.4%

2017 Est. HH Income $25,000 to $34,999 5.0% 6.5% 9.0%

2017 Est. HH Income $15,000 to $24,999 1.5% 3.5% 5.7%

2017 Est. HH Income Under $15,000 4.1% 6.0% 7.9%

2017 Est. Average Household Income $97,377 $81,654 $64,663

2017 Est. Median Household Income $93,204 $81,529 $66,512

2017 Est. Per Capita Income $38,664 $31,934 $24,771

2017 Est. Total Businesses 27 921 1,957

2017 Est. Total Employees 221 11,664 35,721

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Celebration Blvd & World Dr1 mi radius 3 mi radius 5 mi radius

Celebration, FL 34747

2017 Est. Labor Population Age 16 Years or Over 2,496 13,401 30,217

2017 Est. Civilian Employed 59.8% 61.8% 65.3%

2017 Est. Civilian Unemployed 1.3% 1.4% 1.8%

2017 Est. in Armed Forces - - 0.1%

2017 Est. not in Labor Force 38.8% 36.8% 32.8%

2017 Labor Force Males 47.0% 47.3% 48.1%

2017 Labor Force Females 53.0% 52.7% 51.9%

2010 Occupation: Population Age 16 Years or Over 1,209 9,095 20,688

2010 Mgmt, Business, & Financial Operations 27.4% 22.5% 16.3%

2010 Professional, Related 23.4% 20.0% 17.0%

2010 Service 15.1% 20.2% 25.3%

2010 Sales, Office 20.7% 23.1% 25.1%

2010 Farming, Fishing, Forestry - - 0.1%

2010 Construction, Extraction, Maintenance 6.3% 5.7% 5.9%

2010 Production, Transport, Material Moving 7.1% 8.6% 10.3%

2010 White Collar Workers 71.5% 65.6% 58.4%

2010 Blue Collar Workers 28.5% 34.4% 41.6%

2010 Drive to Work Alone 70.2% 73.5% 78.9%

2010 Drive to Work in Carpool 10.0% 10.1% 9.9%

2010 Travel to Work by Public Transportation 0.2% 0.5% 0.7%

2010 Drive to Work on Motorcycle - - 0.1%

2010 Walk or Bicycle to Work 2.8% 2.4% 1.6%

2010 Other Means 1.6% 1.2% 0.9%

2010 Work at Home 15.3% 12.3% 7.8%

2010 Travel to Work in 14 Minutes or Less 23.4% 22.0% 19.7%

2010 Travel to Work in 15 to 29 Minutes 30.4% 35.2% 49.1%

2010 Travel to Work in 30 to 59 Minutes 36.9% 40.3% 39.2%

2010 Travel to Work in 60 Minutes or More 7.6% 6.2% 6.2%

2010 Average Travel Time to Work 23.9 24.5 24.3

2017 Est. Total Household Expenditure $86.4 M $403 M $745 M

2017 Est. Apparel $3.05 M $14.2 M $26.1 M

2017 Est. Contributions, Gifts $6.68 M $30.2 M $51.8 M

2017 Est. Education, Reading $3.85 M $17.4 M $29.7 M

2017 Est. Entertainment $4.92 M $22.9 M $42.0 M

2017 Est. Food, Beverages, Tobacco $12.7 M $59.9 M $113 M

2017 Est. Furnishings, Equipment $3.12 M $14.4 M $26.0 M

2017 Est. Health Care, Insurance $7.18 M $33.9 M $64.5 M

2017 Est. Household Operations, Shelter, Utilities $26.6 M $124 M $230 M

2017 Est. Miscellaneous Expenses $1.24 M $5.82 M $11.0 M

2017 Est. Personal Care $1.12 M $5.21 M $9.68 M

2017 Est. Transportation $15.9 M $75.0 M $142 M

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Celebration, FL 34747

Demographics7-Eleven, INC.


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potentially eligible for bonus or accelerated depreciation ...€¦ · location.7-eleven is...

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