LONGHORN STEAKHOUSE · holiday inn & suites Doubletree by hilton extended stay america n NORTHWEST...

International D

rive 27,000 VPD

Grand National Dr

Major Blvd

19.7 Million Annual Visitors10th and 14th Most Visited Theme Parks in the World

19.7 Million Annual Visitors10th and 14th Most Visited Theme Parks in the World

17 Million Annual VisitorsTop 10 U.S. Retail Asset

17 Million Annual VisitorsTop 10 U.S. Retail Asset 6 MilesDowntown

Orlando

172,000 VPD 4Interstate

I-4 Express Lane Ramps - Under Construction

Oak Ridge Road 25,000 VPD

6 minute DRIVE FROM OAK RIDGE TO UNIVERSAL

5460 W OAK RIDGE RD | ORLANDO, FL

LONGHORN STEAKHOUSE

NEW LONGHORN STEAKHOUSE ON A 10-YEAR GROUND LEASE IN AMERICA’S #1 TOURISM DESTINATION AND FASTEST GROWING JOB MARKET ICONIC REAL ESTATE WITHIN A 6-MINUTE DRIVE TO UNIVERSAL STUDIOS AND ACROSS FROM A TOP 10 U.S. RETAIL ASSET

ACTUAL LOCATION

C L I C K T O V I E WP R O P E R T Y V I D E O

ACTUAL LOCATION

INVESTMENT ADVISORS

MICHAEL BREWSTERDirector

[email protected]

MARC MANDELManaging Director

[email protected]

STEVE SCHRENKDirector

[email protected]

BRAD PETERSONSenior Managing Director

[email protected]

WHITAKER LEONHARDTSenior Director

[email protected]

FINANCING

REBECCA VANREKENManaging Director

[email protected]

HFF1700 Market Street

Suite 3232Philadelphia, PA 19103

HFF250 S. Park Avenue

Suite 360Winter Park, FL 32789

Holliday Fenoglio Fowler, L.P. (Collectively “HFF”)

This Offering Memorandum has been prepared by HFF for use by a limited number of recipients. All information contained herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, expressed or implied, as to the accuracy or completeness of the information contained herein. Further, the Offering Memorandum does not constitute a representation that no change in the business or affairs of the property or the Owner has occurred since the date of the preparation of the Offering Memorandum. All analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the recipient. HFF and Owner and their respective officers, directors, employees, equity holders and agents expressly disclaim any and all liability that may be based upon or relate to the use of the information contained in this Offering Memorandum.

Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective investors.

Owner and HFF each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the property and/or terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligations to any recipient reviewing this Offering Memorandum or making an offer to purchase the property unless and until such offer is approved by Owner, a written agreement for the purchase of the property has been fully executed, delivered and approved by Owner and its legal counsel, and any obligations set by Owner thereunder have been satisfied or waived.

The recipient (“Recipient”) agrees that (a) the Offering Memorandum and its contents are confidential information, except for such information contained in the Offering Memorandum, which is a matter of public record, or is provided from sources available to the public (b) the Recipient, the Recipient’s employees, agents and consultants (collectively, the “need to know parties”) will hold and treat it in the strictest of confidence, and the Recipient and the need to know parties will not, directly or indirectly, disclose or permit anyone else to disclose its contents to any other person, firm, or entity without the prior written authorization of HFF and the Owner, and (c) the Recipient and the need to know parties will not use or permit to be used this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Owner or HFF or for any purpose other than use in considering whether to purchase the property. The Recipient and the need to know parties agree to keep this Offering Memorandum and all confidential information contained herein permanently confidential and further agree to use this Offering Memorandum for the purpose set forth above. If the Recipient has no interest in the property, or if in the future the Recipient or owner discontinue such negotiations, the Recipient will return this Offering Memorandum to HFF.

https://vimeo.com/323376745/eae443f1a8

ACTUAL LOCATION

INvESTmENT SUmmARyLONGHORN STEAKHOUSE | 5460 W OAK RIDGE RD | ORLANDO, FL

ICONIC LOCATION – LongHorn Steakhouse is one of two Darden restaurants within a 6-minute drive from Universal Orlando (19.7 million annual visitors) and is directly

connected via the new Grand National Drive overpass–a soon-to-be access point for I-4

Express Lanes under construction.

NEW LEASE & PROTOTYPE STORE – New long-term ground lease with nearly 10 years of term remaining and 10% rent increases every 5 years. The corporate

lease was signed by Rare Hospitality International, Inc, a subsidiary of Darden Restaurants.

BEST-OF-THE-BEST RETAIL MARKET – LongHorn Steakhouse is located immediately

across from the Simon-owned Orlando International Premium Outlets, a Top 10 U.S.

Retail Asset based on sales around $1,000 PSF and rents rumored to be $100+ PSF.

#1 TOURISM MARKET – LongHorn Steakhouse is in the heart of Orlando’s tourist corridor and Orlando is the #1

most visited city in the U.S. with over 72 million visitors in 2017, an all-time U.S. record and 66% increase since 2009.

INVESTMENT GRADE CREDIT – LongHorn is Darden’s 2nd largest concept with over 490 stores and 26 new stores opened over the past 2 years. LongHorn’s parent company, Darden Restaurants

(NYSE: DRI), carries an investment-grade credit rating from S&P (BBB), Moody’s (Baa2), and Fitch (BBB).

Holliday Fenoglio Fowler, L.P. (“HFF”) Net Lease Advisory is pleased to exclusively offer a premier net lease opportunity to acquire a single tenant LongHorn Steakhouse (the “Property”) located in Orlando, FL, on a new 10-year corporate ground lease.

ACTUAL LOCATION

· · ·

| LONGHORN STEAKHOUSE | ORLANDO | FLORIDA INvESTMENT SUMMARY 4

I N V E S T M E N T S U M M A R Y

$5,475,000ASKING PRICE

4.75%CAP RATE

$260,000NOI

9.4 YearsREMAINING LEASE TERM

#1 JOB GROWTH – Orlando has ranked #1 for Employment Growth for 8 consecutive months since May 2018 with 4.0% year-over-year job growth as of

December 2018, compared to the 1.79% national average (BLS).

STRONG LOCAL DEMOGRAPHICS – Orlando’s Tourist Corridor is dense and growing with a population of 92,570 residents within 3 miles of LongHorn

Steakhouse and a growth projection of 9.1% through 2024.

PREMIER MIXED-USE DEVELOPMENT – Grand National is slated to provide a built-in customer base from the planned TownePlace Suites by

Marriott (160 rooms) plus potential for apartments and additional commercial uses.

WORLD-RENOWNED DESTINATION – International Drive features over 43,000 hotel rooms and connects Grand National to the 2nd largest convention center in the United States—

the Orange County Convention Center (1.4 million annual visitors).

TARGETED AFFLUENT SHOPPERS – Located 1.5 miles from the Mall at Millenia, another Top 10 U.S. Retail Asset, LongHorn Steakhouse is in one of the best performing retail submarkets in America. Mall at Millenia attracts the most affluent domestic and

international shoppers.

INSTITUTIONAL TRADE AREA – The Millenia/North I-Drive trade area has attracted significant institutional and ultra-high net worth investment due to

immense traffic generators, central location, renewed infrastructure, and growing population. Since 2018, investors have poured over half a billion dollars into

commercial real estate within 2.5 miles of Grand National, including acquisitions by Blackstone, Starwood, Barings, Walt Disney, and Comcast.

I-4 ULTIMATE PROJECT & EXPRESS LANES – The $2.3 billion, 21-mile rebuild of Interstate 4 is adding express lanes, two in each direction, to the center of

I-4. Grand National Drive will be an entry and exit point for express lane traffic, generating a new influx of tourists and residents from Greater Orlando into

Grand National as a result of smoother travel. Scheduled completion is 2021.

· · ·


I N V E S T M E N T H I G H L I G H T S

ACTUAL LOCATION

· · ·


119,000 VPD


N

The Orlando International Premium Outlets have previously been reported as a Top 10 U.S. Retail Asset based on sales around $1,000 PSF. The Outlets opened in 2008 and were subsequently sold to Simon Property Group in 2010. Today, featuring Coach, Tory Burch, Saks Fifth Avenue O� Fifth, and other premium stores and brands, it is one of the most successful retail projects in the world. H&M is projected to open in August 2019. Because of the tra�ic pattern, many visitors circulate the outparcels at Grand National, which provide co�ee, dining, and service-oriented retail.

ORLANDO INTERNATIONAL PREMIUM OUTLETS

Prior to 2002, The Florida Mall, which was anchored by Saks Fifth Avenue, Nordstrom, Dillard’s and Macy’s, was the primary tourist shopping destination. However in 2002, the 1.2 million square foot Mall at Millenia opened, which is anchored by Bloomingdale’s, Neiman-Marcus, and Macy’s. Because of easier access for tourists via Interstate 4, compared to The Florida Mall, the Mall at Millenia has become the preferred mall for tourists. Additionally, the Mall at Millenia is one of the top 10 performing Malls in the United States with sales estimated at $1,400+ per square foot. Further, over the last few years, Saks Fifth Avenue and Nordstrom have both closed at the Florida Mall, further reinforcing the Mall at Millenia’s dominant stature for high-end shopping.

MALL AT MILLENIA

BUILT IN 2018

6 Miles6 Miles6 Miles6 MilesDowntown Orlando Downtown Orlando Downtown Orlando Downtown Orlando

172,000 VPD 4

Interstate


NORTHEAST VIEW

DRIVETIME TRAFFIC GENERATOR PER DAY ANNUAL VISITORS1 MINUTE ORLANDO INTERNATIONAL PREMIUM OUTLETS 46,575 17,000,000

2 MINUTES FUN SPOT AMERICA! 1,370 500,000

6 MINUTES UNIVERSAL ORLANDO 54,101 19,747,000

1-6 MINUTES DAYTIME RESIDENTS 8,696 -

1-6 MINUTES DAYTIME WORKERS 19,467 -

1-6 MINUTES TOTAL 130,210

“OVER 130,000 PEOPLE VISIT, WORK, OR LIVE WITHIN 6-MINUTES OF THE SUBJECT PROPERTY EVERY DAY.”

· · ·


The outparcels at Grand National are located on Oak Ridge Road, only 500 feet from the Grand National Drive – Interstate 4 overpass, which opened in August 2017. The overpass connects to Major Boulevard, which plugs directly into Universal Orlando (19.7 million annual visitors) and the surrounding hotels. Grand National Drive will be an entry and exit point for Interstate 4 Express Lanes under construction as part of the I-4 Ultimate Project. I-4 Express Lanes will provide smooth, convenient travel from Downtown Orlando to the northeast and Walt Disney World to the southwest. The I-4 Ultimate Project is scheduled to be completed by 2021 and the express lanes will deposit an influx of customers on Grand National Drive.

GRAND NATIONAL DRIVE – INTERSTATE 4 OVERPASS & EXPRESS LANES

Welcoming 19.7 million annual visitors, Universal Studios and Islands of Adventure are the 10th and 14th most visited parks in the world, respectively. Universal Orlando has increased visitors by more than 20.4% since 2014, compared to Disney’s 8.5% growth over the same timeframe. Universal’s success has been driven by new attractions and resorts such as The Wizarding World of Harry Potter, Fast & Furious Supercharged, Volcano Bay (the 6th most visited water park in the world), Cabana Bay Beach Resort (1,800 rooms), and Sapphire Falls Resort (1,000 rooms). Universal is adding a Harry Potter themed roller coaster and Bourne Identity show in 2019, plus upcoming rumored Nintendo, Pokemon, and Jurassic Park attractions.

UNIVERSAL ORLANDO


Grand National Dr

Major Blvd

International D

rive 27,000 VPD

172,000 VPD 4Interstate

Hyatt HouseHyatt place

holiday inn& suites

Doubletree by hilton

extended stay america


NORTHWEST VIEW

· · ·


Dezerland Orlando Center is the former Artegon Marketplace anchored by Bass Pro Shops and Cinemark 20 Theaters. The Miami-billionaire family, Dezer Development, acquired the mall in January 2018 with plans for a massive mixed-use development including retail, tourist attractions, and residential uses. Dezer is seeking approval for a $70 million, 365-unit, five-story apartment complex. This is the first phase of the future $500 million addition with 2,000 apartments, 1,000 hotel rooms, and Dezerland Action Park including a 1,500 vehicle auto museum, bowling alley, go-kart track, arcade, ice skating, ninja obstacle course, trampoline park, and paintball course.

DEZERLAND ORLANDO CENTERInternational Drive Value Center has an excellent line-up of today’s strongest investment grade retailers across a broad spectrum of categories. Bed, Bath & Beyond (S&P: BBB), Ross Dress for Less (S&P: A-), TJ Maxx (S&P: A+), and dd’s Discounts (S&P: A-) all boast exceptional investment grade credit. Ross Dress for Less, TJ Maxx, and Bed Bath & Beyond have each been at the Property for more than 23 years. Anchor performance at the center is exceptional with one of the top performing Ross Dress for Less stores in the entire chain, a Bed Bath & Beyond which is rumored to be at the top of the district, and TJ Maxx which significantly outperforms company averages.

International drive value center

Outlet marketplace

The 16.5-acre vacant site was acquired in July 2016 for $16.8 million ($1.0 million per acre). The combined estimated $100 million project is slated to include a TownePlace Suites by Marriott, apartments, and commercial uses.

Grand National


International Drive 27,000 VPD

SOUTHEAST VIEW

· · ·


International Drive is the center of gravity for business travelers, driven by the 2.1 million square foot Orange County Convention Center which is the 2nd largest convention center in the United States. The conven-tion center hosts more than 1.4 million visitors annually through its 200+ events, contributing $2.4 billion annually to the Orlando econo-my. Annually, more than 10 million business travelers come to Orlando for conventions, meetings, and trade shows and stay in the more than 43,000 hotel rooms along International Drive.

INTERNATIONAL DRIVE

Fun Spot is a family-owned and operated theme park that welcomes over 500,000 visitors per year. In June 2013, the park underwent a 15-acre renovation and expansion. The Orlando location now boasts Central Florida’s only wooden roller coaster along with the second tallest SkyCoaster in the world. The park has 12 acres of undeveloped land for expansion.

FUN SPOT AMERICA!


Grand National Dr

International Drive 27,000 VPD

1.5 MILLION ANNUAL VISITORS6TH MOST VISITED WATER PARK IN THE WORLD

1.5 MILLION ANNUAL VISITORS6TH MOST VISITED WATER PARK IN THE WORLD

THE ICON ORLANDO IS THE TALLEST OBSERVATION WHEEL ON THE UNITED STATES EAST COAST AT 400 FT

THE ICON ORLANDO IS THE TALLEST OBSERVATION WHEEL ON THE UNITED STATES EAST COAST AT 400 FT

SOUTHWEST VIEW

· · ·


Dezerland Orlando Center: Proposed 2,000 Apartments

and 1,000 Hotel Rooms

Eagle Nest Park

Florida's Tpke

Florida's Tpke

GG423

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GG423

Conroy Rd

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Universal Blvd

LB McLeod Rd

W Oak Ridge Rd

Taft Vineland Rd

W Holden Ave

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Thorpe Rd

Americana Blvd

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Metrowest Blvd

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Gatlin Ave

Westwood Blvd

Conroy Rd

Uni

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Millenia Blvd

Mill

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Carrier Dr

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UV527

UV482

UV435

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Big Sand Lake

Downtown Orlando 6 Miles

THE MALL AT MILLENIALO R L A N D O, F L

HEADQUARTERS

COMPETITION AERIAL - SINGLE TENANT STARBUCKS & DARDEN LOCATIONS

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Bay Hill Blvd

UNIVERSAL ORLANDO6-MINUTE DRIVETIME

GRAND NATIONAL OUTPARCELS

4Interstate

4Interstate

10

ACTUAL LOCATION

TENANT OvERvIEwLONGHORN STEAKHOUSE | 5460 W OAK RIDGE RD | ORLANDO, FL

· · ·

| LONGHORN STEAKHOUSE | ORLANDO | FLORIDA TENANT OvERvIEW 12

With nearly 500 restaurants across 40 states, LongHorn SteakHouse is known for their fresh, grilled steaks served in a relaxed, rancher home inspired atmosphere. LongHorn had total sales growth of 5% in 2018 driven by a 2.7% increase in same-restaurant sales growth and adherence to their long-term strategy of investing in the quality of the guest experience and leveraging LongHorn’s unique operating culture.

LongHorn Steakhouse was purchased by Darden Restaurants in 2007. Darden Restaurants, headquartered in Orlando, FL, has a portfolio consisting of eight, differentiated restaurant brands including LongHorn Steakhouse, Olive Garden, Bahama Breeze, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52 and Eddie V’s. Darden creates memorable dining experiences for 380 million guests each year in communities across North America. Darden is a leader in the U.S. casual dining industry with business strategies focused on streamlining menu options, simplifying restaurant processes, and deploying advanced technologies to improve overall efficiency.

Awards & Recognition

• 2018 Technomic Consumers’ Choice Award, most loyal customers in the full-service restaurant segment

• 2014 & 2015 Ace Metric Brand of the Year in casual dining

www.longhornsteakhouse.com

CORPORATE OVERVIEW

Headquarters Orlando, FL

LongHorn Locations 491

Founded 1981

Parent Company Darden Restaurants, Inc. (NYSE: DRI)

S&P Credit Rating BBB

Moody’s Credit Rating Baa2

Fitch Credit Rating BBB

ACTUAL LOCATION

LONGHORN STEAKHOUSE | 5460 W OAK RIDGE RD | ORLANDO, FL

FINANCIAL ANALySIS

· · ·

| LONGHORN STEAKHOUSE | ORLANDO | FLORIDA FINANCIAL ANALYSIS 14

L E A S E A B S T R A C T

LEASE DETAIL

Address 5460 W Oak Ridge Rd, Orlando, FL 32819

Tenant RARE Hospitality International, Inc.

Store Type Corporate

Lot Area +/- 0.28 Acres

Size 5,800 SF

Year Built 2018

Annual Rent $260,000 ($44.83 PSF)

Lease Type NNN Ground Lease

Parking Shared parking provided via condo association easement

Commencement Date July 10, 2018

Lease Expiration July 31, 2028

Remaining Lease Term 9.4 Years

Remaining Options Four (4), Five (5) Year Options

RENT SCHEDULE

Description DatesAnnual Rent

Rent Increase

Base Term: Years 1 - 5 7/10/2018 - 7/31/2023 $260,000

Base Term: Years 6 - 10 8/1/2023 - 7/31/2028 $286,000 10.0%

Option Term: Years 11 - 15 8/1/2028 - 7/31/2033 $314,600 10.0%




4.75%Cap Rate

$5,475,000 Asking Price

LANDLORD RESPONSIBILITY DETAIL

PaymentsLandlord remits payments from Tenant for Common Area Expenses to Declarant including common area maintenance, insurance, and real estate taxes.

TENANT RESPONSIBILITY DETAIL

CAM PaymentTenant pays Landlord a fixed $10,000 each Lease Year with 2% annual increases each Lease Year. Landlord remits payment to the Declarant for Common Area Maintenance.

Maintenance and Repairs

Tenant is reponsible for all maintenance, repairs, and replacements to the Premises and Tenant’s Improvements at its sole cost and expense.

InsuranceTenant shall maintain liability, property, and worker’s compensation insurance.

Insurance Payment

Tenant pays Landlord for Tenant’s Insurance Share of the Common Areas. Landlord remits payment to the Declarant for Common Area Insurance.

TaxesTenant shall pay real estate taxes for the Premises directly to the taxing authority and Tenant shall pay Landlord for Tenant’s Tax Share of the Common Areas, and Landlord remits payment to the Declarant.

Utilities Tenant is responsible for utilities supplied to the Premises.

DECLARANT RESPONSIBILITY DETAIL

Common Elements

Declarant maintains the Common Elements including paving, curbing, striping, landscaping, lighting, utility expenses, insurance expenses, and real estate taxes attributable to Common Elements.

· · ·

| LONGHORN STEAKHOUSE | ORLANDO | FLORIDA FINANCIAL ANALYSIS 15

S I T E P L A NInternational Drive (27,000 VPD)

oak ridge rd (25,000 VPD)

2019 Projected Construction Start

Taco Bell

McDonald’s

Perfumeland Megastore

Tony’s Brazilian Grill

Athletic Planet

Orlando Ticket Store

Perfume Outlet

LuggageLiquor Store

Himas Indian Cuisine

J-Petal Japanese

Good Vibrations Ink

Disney Gifts

Brazilian Restaurante Steak & Grill

Acai Concept

Scooter Rentals

Electronics

Planet Sunlgasses

Beachworks

ACTUAL LOCATION

LONGHORN STEAKHOUSE | 5460 W OAK RIDGE RD | ORLANDO, FL

mARKET OvERvIEw

· · ·

| LONGHORN STEAKHOUSE | ORLANDO | FLORIDA MARKET OvERvIEW 17

POPULATION & DEMOGRAPHICS

MIL

LION2.5

residents in Orlando

Florida’s 3rd largest & fastest

growing MSA

$80,343Avg. Household Income

93.5Cost of Living Index:

(National average is 100%)TOURISM

$50BILLION

Spending

Tourist Destination in the World#1

HOME OF 5 OF 10 Top Theme Parks in the World

an all-time record for U.S. Travel IN 2017

MILLION visitors72

#4 FASTEST-GROWING City of America in 2018(Forbes Magazine)

#1 CITY IN AMERICA to INVEST IN HOUSING (Forbes Magazine)

#6 HUMAN RESOURCES

#8 INFRASTRUCTURE

#9 LARGE CITIES FOR FOREIGN DIRECT INVESTMENT IN THE U.S.

#2 Best City for White Collar JOB GROWTH(Realtor.com)

RANKINGS

(fDi Magazine)

annually in Orlando. Leads Florida (3.0%) and

exceeds National Growth (3.0%)

3.4%

Orlando ranked #1 in the nation for % job growth

through March 2018

4.7%JOB GROWTH

unemployment RATE

2.7%(As of dec. 2018)

were created in Orlando MSA from October 2017 to October 2018

60,800 JOBS

WAGE GROWTH

#1in Florida for Wage Growth (2017)

MSA

$ $$

EMPLOYMENT

ORLANDOMSA Economic Overview Orlando

Companies with HQ in Orlando

business

infrastructure New DEvelopment

Lake Nona

$7.6 economic activity

BILLION

$430global training and conference center

planned by KPMG

MILLION ATTENDEES

30,000

9.4%

JOBS CREATED by 2020

INCREASE IN MEDIAN SALES PRICE FOR SINGLE-FAMILY HOMES IN MSA

48,000Projected at the

KPMG facility

Orlando

687,700

Creative Village Downtown

as mixed-use, transit oriented urban neighborhood

STUDENTS

from UCF & Valencia College

ACRES REDEVELOPED

Universal Studios

Disney World

600near Convention Center for new theme parks

8 NEW THEMED ATTRACTIONS

ACRESPURCHASED FOR THEME PARKS

will be added to Walt Disney Resort within the next 4 years.

$500million expansionunder-way

CONVENTION CENTER

2nd BUSIEST IN THE U.S.

SunRail Ridership has increased in each of the last 12 months1MILLION passengers

in its first year of operation

Orlando Beltway

$1.6BILLION to complete Orlando’sBeltway System

Orlando International Airport

44.5 MILLIOn ANNUAL passengers

LARGEST airport IN FLORIDA

#5busiest airport

(IN THE U.S (O&D TRAFFIC)

BILLION expansion 2nd$3.1

Over $15 billion of infrastructure investment underway in Orlando

$2.3Ultimate I-4

BILLION renovation

UNDERWAY ON A 21-MILE STRETCH OF I-4

top AMERICAN CITY OF THE FUTURELarge cities category

· · ·


4Interstate

4Interstate

27

192 W IRLO BRONSON MEMORIAL HWYW IRLO BRONSON MEMORIAL HWY

OrlandoInternational

Airport

160 OUTLETS STORES

270 STORES

180 OUTLETS STORES

Multilevel Go Kart Track, Arcard, Ropes

Course with Zip Line, VR Racing Simulators,

Laser Tag, Bowling Alley

pointe orlando

Universal citywalk

disney springs

icon orlando“Orlando eye”

400 foot observation wheel

encore resortat reunion

160 Luxury Vacation Homes with Water

Park and Restaurants

waterstar orlando

262K SF of Retail, Dining & Entertainment

2 Apartment Towers (300 Keys)

1 Hotel (150 Keys

Best-in-class retail, dining, and entertainment

Hotel (187 Keys)Water Park (12 Acres)

1,200 Vacation Homes, Luxury Condos, and Timeshares

Hamlin Town Center316 Luxury Multifamily Lake-Front Unnits Dezerland Orlando

Centerunder construction / Redevelopment

Universal’s New 800 Acre Theme Park

rumored / planned

vineland pointe450K SF Retail

shopping center

$3 Billion, 500 acre mixed use development

Phase I of III: Hotel (250 Keys), 80K SF Retail

Magic place

fUTUREmICHAEL dEZER

aUTO mUSEUM

Grand national

Sunset walk at Margaritaville resort

Subject PropertyExisting

Under ConstructionpLANNED

Economic drivers

Orlando Destination Retail |

· · ·


T R A D E A R E A D E M O G R A P H I C S

POPULATION

3 MILES 5 MILES 7 MILES

2010 Census 75,875 194,970 346,918

2019 Estimate 92,570 229,976 411,005

2024 Projection 100,985 249,027 443,982

Growth 2019- 2024 9.1% 8.3% 8.0%

HOUSEHOLDS

3 MILES 5 MILES 7 MILES

2010 Census 29,912 72,908 128,960

2019 Estimate 37,090 86,782 154,322

2024 Projection 40,577 94,192 167,053

Average Household Income $69,893 $73,479 $77,760

Median Household Income $48,204 $46,738 $50,338

ACTUAL LOCATION

3 MILES

5 MILES

7 MILES

ACTUAL LOCATION

INVESTMENT ADVISORS

MICHAEL BREWSTERDirector

[email protected]

MARC MANDELManaging Director

[email protected]

STEVE SCHRENKDirector

[email protected]

BRAD PETERSONSenior Managing Director

[email protected]

WHITAKER LEONHARDTSenior Director

[email protected]

FINANCING

REBECCA VANREKENManaging Director

[email protected]

HFF1700 Market Street

Suite 3232Philadelphia, PA 19103

HFF250 S. Park Avenue

Suite 360Winter Park, FL 32789

LONGHORN STEAKHOUSE · holiday inn & suites Doubletree by hilton extended stay america n NORTHWEST...

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