COMMERCIAL DEVELOPMENT OPPORTUNITY · AREA OVERVIEW the world-class service passengers have come to...

COMMERCIALDEVELOPMENT OPPORTUNITY

INVESTMENT CONTACTS

Executive Summary .................................................... Pg. 3

Area Overview ............................................................. Pg. 6

Property Overview ...................................................... Pg. 10

T A B L E O F C O N T E N T S

JASON SASSER ASSOCIATE CBRE | Land 101 E. Kennedy Blvd, Suite 1500Tampa, FL 33602 T: 813.273.8418C: 813 830 8409 [email protected]

COURTNEY VESTALClient Services SpecialistCBRE | Land 101 E. Kennedy Blvd, Suite 1500Tampa, FL 33602 T: 813.273.8403F: [email protected]

CBRE, Inc., Licensed Real Estate Broker

E X E C U T I V E S U M MA RY

CBRE | OFFERING MEMORANDUM | BEXLEY COMMERCIAL DEVELOPMENT

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Executive SummaryCBRE Group, Inc. (“CBRE”), is pleased to present this Offering Memorandum (OM) for the opportunity to acquire and develop 7.03 ± acres designated as Suncoast Commercial at Bexley and the Corporate District with 34.49 ± acres, for a total of 41± acres.

Bexley is located in Land O’ Lakes, Florida. Land O’ Lakes is located in Pasco County and is part of the Tampa Bay MSA. Bexley is roughly a quarter mile from the Suncoast Parkway/Veterans Expressway on State Road 54 less than ten miles to I-75 and is approximately 20 miles from Tampa International Airport, the Westshore Business District, and downtown Tampa.

With miles of trails, thoughtful design, and coveted amenities, Bexley makes cohesive living, working, dining, and playing possible for community residents. Newland’s master-planned communities provide clear structural benefits for commercial endeavors, including

proximity and access to both employees and consumers. Pasco County also offers easy access to major highways, rail lines, air transportation, and the Port of Tampa Bay, which fosters a supportive environment for new and growing businesses. The area has helped companies of all sizes achieve their true potential, ranging from Fortune 500 giants to tech start-ups. With an attractive location, skilled employment sectors, and cost-effective benefits, business in Bexley is rooted in prosperity.

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RY Newland Communities understands the evolution of retail

and the need to create emotional connections, experiences, and memories that resonate with people and give them a reason to come back beyond just products or services. Newland’s established reputation as the largest private developer in the U.S. stems from over five decades of owning and developing complete mixed-use, retail/commercial, and residential communities. Rest assured that Newland, with more than 1,000 acres of commercial land on the East Coast and more than 2,500 acres across the country, is skilled in anticipating curve-balls and staying ahead of the game. Beyond beautiful and effective community design, you gain a valuable marketing partner in Newland, as well as the proven staying power of developers who see each project through to completion. The middleman in brokerage and development becomes obsolete, and capital partners are patient in the effort to build long-term value — it’s a relationship that’s built to last.

ABOUT NASH

Newland is developing Bexley in partnership with North America Sekisui House, LLC (NASH), the U.S. business operations unit and a full subsidiary of Sekisui House, LTD., Japan’s largest homebuilder and a leading diversified developer since 1960.

Headquartered in Arlington, Virginia, NASH establishes joint ventures to build innovative and sustainability-conscious communities and mixed use, multi family rental, and

condominium properties across the U.S.

Firm believers in the notion that prosperity and sustainability go hand in hand, NASH creates environmentally sound communities that maintain an ecological balance. With an international reputation for eco-friendly homes, high-quality design, and innovative technology, NASH is proud to create communities that can be enjoyed for generations to come.

About Newland Communities And NASH

AREAOVERVIEW


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Area OverviewNestled halfway down Florida’s peninsula, Pasco County is bordered by massive wilderness preserves to the north and east, and the Gulf to the west, giving Bexley the perfect location for future growth in the surrounding area. Located only a quarter mile from the Suncoast Parkway/Veterans Expressway on State Road 54 and less than ten miles to I-75, Bexley puts residents approximately 20 miles from Tampa International Airport, the Westshore Business District, and downtown Tampa.

Bexley’s proximity to the Tampa Bay area is ideal, Pasco County is among the country’s fastest-growing counties. While Florida’s tourism industry brings in over 105 million people each year, more and more people are choosing to put down roots in the Tampa area — and Bexley is happy to welcome them home.

Those lucky enough to call Pasco County “home” enjoy a healthy balance of beach, culture, excellent dining options, convenient shopping destinations whether for daily needs or outlet shopping, outdoor recreation and entertainment. It’s no wonder why the area, known for its bountiful lakes, abundant trails, and rugged beauty, attracts a diverse group of people who aren’t afraid to show their wild side. As a whole, Pasco County is committed to providing a top-notch education, from pre-schools to post-secondary institutions. Bexley is home to an elementary school as well as an on-site preschool. Bexley is within 17 miles of the University of South Florida, which enrolls nearly 50,000 students annually. USF graduates, along with thousands more from other nearby colleges, often have a hard time leaving the area’s mild climate and promising economy, resulting in a rapidly growing workforce with experience in a wide range of industries. Brimming with discovery and a wellness-centered way of life, Bexley is a place to explore daily and live vibrantly.

Bexley is a development by Newland Communities, the largest private residential developer in the country. Residential units will include single-family homes, starting in the low $200,000s and reaching the $700,000s, as well as townhomes, villas, and a number of multi family residential offerings. The community’s Land O’ Lakes location within Pasco County offers a world of natural beauty and outdoor recreation, all conveniently located within a quick commute to Tampa. Whether they’re jogging the 10-mile multi-purpose community trail network, biking with the kids, splashing around the pool with family, or dueling it out with neighbors over a ping-pong match at the park, Bexley beckons its residents to explore, climb, sweat, discover and live. Commercial opportunities include boutique, retail, grocery, hotel, childcare, fitness, civic, food and beverage, office, and medical. As a community-oriented hub where an active lifestyle meshes with natural beauty, plenty of business opportunities abound in Bexley.


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Interstate/Highway TransportationThe main east/west thoroughfare through Land O’ Lakes is SR 54 which connects the Suncoast Parkway to the west with Interstate 75 to the east. Additionally, US 41 runs north to south through the center of Land O’ Lakes, connecting the area to the rest of Tampa Bay, Hillsborough & Pinellas Counties. Interstate 75 provides access to the Northern and Southern cities along Florida’s west-coast as well as nearby interchanges with both Interstate 275 to Tampa and St. Petersburg to the south and Interstate 4 to the east, connecting to Orlando and Florida’s eastern seaboard.

Air TransportationLand O’ Lakes is located 20 miles from Tampa International Airport. Tampa International was recently named by Airports Council International as one of the top North American airports, servicing 15 to 25 million passengers annually. A billion dollar expansion and renovation plan is underway to keep up with the increasing traffic and to continue to provide the world-class service passengers have come to expect.

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BusPasco County Public Transportation (PCPT) provides local service throughout the county. PCPT also connects to the Hillsborough Area Regional Transit (HART) system as well as the Pinellas Suncoast Transit Authority (PSTA) to provide residents of Land O’ Lakes access to the entire Tampa Bay Area.


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PROJECT AREA

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Property LocationThis commercial opportunity is to develop a 41 ± acre mixed use site. 7.03 ± acres are designated for retail, referred to as Suncoast Commercial at Bexley, 34.49 ± acres are designated as the Corporate District. The community of Bexley is approximately 2,450 acres, with 2,045 planned units, over 1,200 single-family homes, and over 650,000 square feet of commercial space including retail and office.

Suncoast Commercial at Bexley is 7+ acres situated just north of the RaceTrac convenience store. Targeted mixed-use development includes local fare, boutique shopping and service retail. The Suncoast Commercial area is walkable to Florida Hospital, including the 24-bed emergency center, a newly developed SpringHill Suites hotel, and The Corporate District. This location puts a variety of restaurants in an easily accessible location for hotel guests, hospital employees and visitors, future employees of The Corporate District, and Highway 54 traffic.

The Corporate District of Bexley is 34+ acres. It offers an economical base for national and regional corporate offices. Targeted development includes office, large scale, with a potential mix of convenient retail/service. The Corporate District is in close proximity to the dining and service amenities of Suncoast Commons, and is just a short drive/walk for Bexley community residents. With an advantageous location, and cost-effective options, business looks brighter in Bexley.

CORPORATE DISTRICT

SUNCOAST COMMERCIALAT BEXLEY

BEXLEY VILLAGE DRIVE

STATE ROUTE 54



12 Charts & TablesDEMOGRAPHICS

PLACE OF WORK (within 15 minutes)

2018 Businesses 4,232

2018 Employees 38,037

POPULATION (within 5 miles)

2018 Population 156,045

2023 Projected Population 173,415

2010-2018 Pop Growth Rate 2.05%

Daytime Residents 66.3%

Bachelors Degree 25%

Associates Degree 11.6%

Master’s/Professional/Doctorate 14.4%

Avg Household Income $97,389

Avg Per Capita Income $36,150

Average Age 42.3

Average Household Size 2.69

Household Income Under $100K 65.9%

Income between $100-$150K 18.5%

Income over $150K 15.6%

Within 15 minutes of the subject property, the population is approximately 156,045 (2018) and 2023 estimates put the number over 170,000 people. Over that five year span, that equates to a 2.13% annual population increase. By comparison, the United States population is expected to increase by 0.83% annually in the next five years, from its estimated population of 327,514,334.

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POPULATION BY YEAR

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WBexley Site Plan

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CommercialOfficeSchoolMultifamily / OfficeTownhome w/ AlleyTownhomeBexley HouseVilla Home32' x 120' w/ Alley32' x 130' w/ Alley50' x 130' Lot w/ Alley40' x 120' Lot50' x 120' Lot60' x 120' Lot70' x 120' Lot80' x 120' LotFuture DevelopmentWetlandPondRight of Way / EOPWelcome CenterCommunity NodeNeighborhood Node

Del Webb Bexley Legend:40' x 120' Lot50' x 120' Lot65' x 120' Lot

S.R 54

Suncoast Parkway

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Welcome Center/Amenity

Borrow Pit

3rdAddition

4thAddition

Lake Patience

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BexleyNorth

Epoch 300Apartments

MF /Office

Office

Commercial

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Phase 3A (Preliminary)

Phase 2A

BexleyElementary

School

Second Addition(Del Webb Bexley)

Tower Road

Mentmore Blvd.

Amenity

HotelSite

FloridaHospital

RaceTracGas Station

Phase 3

Phase 2

Phase 4

Phase 1

Phase 4Phase 3

Phase 2A-1

Phase 1

Phase 3B

AdditionalLand

Phase 1Phase 2

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Future Sunlake Boulevard

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BEXLEY SOUTH & nOrTHCONCEPTUAL SITE PLAN

This a conceptual site plan and is subject to rezoning, final design, survey,environmental analysis, engineering, permitting and governmentalapproval. Site layout, product type and yield are subject to change.Revision date: 01/04/2018. Scale 1" = 600'

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SUNCOAST COMMERCIAL AT BEXLEY

CORPORATE DISTRICT

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BEXLEYMaster PLan, Tampa, Florida OCTOBER 18, 2018

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Florida Hospital Opened 2018

Future Florida Hospital Medical Office Building

RaceTrac Opening 2019 SUNCOAST

COMMERCIAL

CORPORATE DISTRICT

Lakeside Walk Multi-Family 300 Units

Future Retail Center North

FutureMulti-Family/Office

10.4 Acres

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WCorporate District Pricing

BEXLEYCorporate Site, Tampa, Florida OCTOBER 18, 2018

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Parcel A Parcel B Parcel C Parcel D Parcel EFitness 20,000 SF 3-Story

Office 79,200 SF5-Story Office 126,500 SF

2-Story Office 34,000 SF

HotelRetail R1 9,600 SFRetail R2 16,200 SFRetail R3 9,600 SFTotal 55,400 SFAcres 7.65 Acres Acres 5.41 Acres Acres 7.41 Acres Acres 2.27 Acres Acres 2.64 AcresParking 5/1,000 Parking 5/1,000 Parking 5/1,000 Parking 5/1,000

Corporate District Pricing Starting at $350,000/Acre

*Conceptual Plan

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Land Acres Land SF

Grocer 3.30 143,748

Retail A 1.00 43,560

Retail B 1.00 43,560

Retail C 2.10 91,476

Suncoast Commercial Pricing Starting at $300,000/acre.

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DEMOGRAPHIC COMPREHENSIVE

NEW MARKER

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©2018 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, assumptionsor estimates used are for example 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 todetermine to your satisfaction the suitability of the property for your needs. Source: Esri ProjectID:374271

AFFILIATED BUSINESS DISCLOSURECBRE, Inc. 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 AGREEMENTThis 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 the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond 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 respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use 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© 2018 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.

INVESTMENT CONTACTS:

JASON SASSER ASSOCIATE CBRE | Land101 E. Kennedy Blvd, Suite 1500Tampa, FL 33602 T: 813.273.8418C: 813.830.8409 [email protected]

COURTNEY VESTALClient Services SpecialistCBRE | Land101 E. Kennedy Blvd, Suite 1500Tampa, FL 33602 T: 813.273.8403F: [email protected], Inc., Licensed Real Estate Broker

COMMERCIAL DEVELOPMENT OPPORTUNITY · AREA OVERVIEW the world-class service passengers have come to...

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