Meadow Pointe III & IV Wesley Chapel Lakes€¦ · Wesley Chapel Lakes DRI located in Wesley...
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Overview In commercial real estate, timing can be everything. And there has never been a better time for the development of Wesley Chapel Lakes | Meadow Pointe III and IV than now. The Meadow Pointe III and IV property is comprised of the 2,250 acre Wesley Chapel Lakes DRI located in Wesley Chapel, Florida. To date, over 2,000 developed lots within the project have been sold. Offered here are four commer- cial nodes within the Meadow Pointe property that are prime for development of retail, office and multi-family improvements. The non-residential lands, being offered by the owner Wesley Chapel Lakes, Ltd., are entitled for immediate development of approximately 220,000 square feet of commercial uses in Phase I. The lands have been through years of extensive engineering and regulatory review, saving valuable time, money and energy for prospective developers. Access to the subject parcels will be provided via Meadow Pointe Boulevard – which is fully constructed throughout the project and is signalized at the intersec- tion with SR 54. The State Road 56 extension to Meadow Pointe Boulevard is completed. The community of Wesley Chapel is one of the fastest growing sectors in Florida, with a growth rate of 267% from 2000 to 2010. Development of the area was planned around golf courses, lakes and open spaces. Meadow Pointe has extensive new affordable housing and recreational facilities in close proximity to the commercial parcels being offered. Offering Highlights • Four prime commercial nodes available. • Non-residential parcels are zoned for Retail, Office, and Multi-Family use. • Subject properties are entitled for immediate development for commercial use. • The non-residential tracts are all located on significant major improved State Roads, providing direct access to the interstate and surrounding areas. The tracts have fast and efficient access to I-75 and State Road 56. • The location is just minutes away from the new Shops at Wiregrass Mall and other signature retailers. Summary of Parcels Sites / Parcels Gross Acres Proposed Use 1) A, B, C, D 74.3 Retail / Office 2) R, S, W, X 163 Retail 3) MM, NN 18.5 Retail 4) E, F 71 Multi-Family TOTAL Gross Acres 326.8 Wesley Chapel Lakes WESLEY CHAPEL, FLORIDA Meadow Pointe III & IV For Sale Investment Opportunity Shops at Wiregrass Mall Meadow Pointe Tampa Bay Florida SITE 4 PRESENTED BY: Lee E. Arnold, Jr. CCIM, CRE CEO & Chairman of the Board Tampa Bay, Central FL, Southwest FL DIRECT +1 727 443 6383 EMAIL [email protected] Steven Lannon Asset Management| Tampa Bay DIRECT +1 727 442 7094 EMAIL [email protected]
Transcript of Meadow Pointe III & IV Wesley Chapel Lakes€¦ · Wesley Chapel Lakes DRI located in Wesley...
OverviewIn commercial real estate, timing can be everything. And there has never been a better time for the development of Wesley Chapel Lakes | Meadow Pointe III and IV than now. The Meadow Pointe III and IV property is comprised of the 2,250 acre Wesley Chapel Lakes DRI located in Wesley Chapel, Florida. To date, over 2,000 developed lots within the project have been sold. Offered here are four commer-cial nodes within the Meadow Pointe property that are prime for development of retail, office and multi-family improvements.
The non-residential lands, being offered by the owner Wesley Chapel Lakes, Ltd., are entitled for immediate development of approximately 220,000 square feet of commercial uses in Phase I. The lands have been through years of extensive engineering and regulatory review, saving valuable time, money and energy for prospective developers.
Access to the subject parcels will be provided via Meadow Pointe Boulevard – which is fully constructed throughout the project and is signalized at the intersec-tion with SR 54. The State Road 56 extension to Meadow Pointe Boulevard is completed. The community of Wesley Chapel is one of the fastest growing sectors in Florida, with a growth rate of 267% from 2000 to 2010. Development of the area was planned around golf courses, lakes and open spaces. Meadow Pointe has extensive new affordable housing and recreational facilities in close proximity to the commercial parcels being offered.
Offering Highlights• Four prime commercial nodes available.
• Non-residential parcels are zoned for Retail, Office, and Multi-Family use.
• Subject properties are entitled for immediate development for commercial use.
• The non-residential tracts are all located on significant major improved State Roads, providing direct access to the interstate and surrounding areas. The tracts have fast and efficient access to I-75 and State Road 56.
• The location is just minutes away from the new Shops at Wiregrass Mall and other signature retailers.
Summary of Parcels
Sites / Parcels Gross Acres Proposed Use
1) A, B, C, D 74.3 Retail / Office
2) R, S, W, X 163 Retail
3) MM, NN 18.5 Retail
4) E, F 71 Multi-Family
TOTAL Gross Acres 326.8
Wesley Chapel LakesWESLEY CHAPEL, FLORIDA
Meadow Pointe III & IVFor Sale Investment Opportunity
Shops at Wiregrass Mall
Meadow Pointe
Tampa Bay Florida
SITE 4
PRESENTED BY:Lee E. Arnold, Jr. CCIM, CRE
CEO & Chairman of the Board Tampa Bay, Central FL, Southwest FLDIRECT +1 727 443 6383 EMAIL [email protected]
Steven LannonAsset Management| Tampa Bay DIRECT +1 727 442 7094 EMAIL [email protected]
WESLEY CHAPEL LAKES | MEADOW POINTE III & IV
SITE 1 - PARCELS A, B, C & D
Site 1 - Parcels A, B, C & D• Commercial frontage parcels at the signaled intersection of State Road
54 and Meadow Pointe Boulevard.
• 74.38 Gross Acres
• Retail and Office Land Use
• Tracts A, B, C and D are not included in the CDD districts and have no bond assessments or debt.
Property Value Parcels A & B Parcels C & DSize (acres) 25.309 49.075Ag Land $14,096 $36,828Land $1,687,964 $599,005Building $0 $0Extra Features $0 $0Just Value (Classified Use Value) $14,096 $36,828Taxable Value $14,096 $36,828
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Meadow Pointe B
lvd.
State Road 54
Smith Road
C
A
D
B
A
C
OFFERING SUMMARY P. 3
SITE 1 - PARCELS A, B, C & D
Conceptual Site PlanShopping Center Concept Parcels A & C Size Parking
SpacesGrocery 46,031 SF 230Liquor 1,200 SF 6Retail A 15,000 SF 125Total 62,231 SF 361
Tampa Bay Florida
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The information herein is provided “ONLY AS AN INTRODUCTION TO THE PROPERTY”. All parties interested in purchasing should base their final decision on the results of their own independent inspection of the property. All parties should satisfy themselves as to the condition of the property with respect to the legal, environmental or physical conditions of the property and title thereto. All financial data provided is given for information purposes and is not guaranteed. All parties should perform their own market feasibility study to determine the soundness of the financial data provided and the physical condition of the property. The Owner, Agent and all parties acting on behalf of the Owner or Agent hereby make no representations as to the accuracy or completeness of the information included in this property profile. Unless provided to the buyer under separate cover, no environmental study has been done for this property. This information is believed to be accurate, we are not respon-sible for misstatements of facts, errors or omissions, prior sale, changes of price or withdrawal from the market without notice.
Site 2 - Parcels R, S, W, X• Non-residential tracts located on the four quadrants of SR 56 and
Meadow Pointe Boulevard.
• 163+ Gross Acres
• Retail Land Use
• Tracts R, S, W and X are all within a separate CDD district known as Meadow Pointe V.
• Currently no bond assessments or debt other than annual district costs associated with maintenance and reporting.
Property Value Parcel R Parcel S Parcel W Parcel XSize (acres) 65.98 11.389 63.887 21.811Ag Land $5,641 $0 $18,143 $6,641Land $340,687 $75,020 $1,260,869 $495,423Building $0 $0 $0 $0Extra Features $0 $0 $0 $0Just Value (Classified Use Value)
$86,132 $75,020 $18,143 $283,141
Taxable Value $86,132 $75,020 $18,143 $283,141
SITE 2 - PARCELS Q, R, S, W, X
State Road 56
Meadow Pointe B
lvd.
R
WS
X
WESLEY CHAPEL LAKES | MEADOW POINTE III & IV
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Conceptual Site PlanSite Detail SizeCorporate Park/Flex Space 442,800 SFRetail 339,000 SFResidential 104,000 SF
Tampa Bay Florida
SITE 2 - PARCELS Q, R, S, W, X
R
W
S
X
OFFERING SUMMARY P. 5
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Site 3 - Parcels MM, NN• Tracts MM and NN are within the CDD III Meadow Pointe.
• 18.58 Gross Acres
• Zoned for Retail land use
• Surrounded by residential development
Property Value Parcel MM Parcel NNSize (acres) 7.614 10.966Ag Land $0 $0Land $159,635 $220,832Building $0 $0Extra Features $0 $0Just Value (Classified Use Value) $159,635 $220,832Taxable Value $159,635 $220,832
SITE 3 - PARCELS MM, NN
MM NN
Meadow Pointe Blvd.
Beardsley Drive
WESLEY CHAPEL LAKES | MEADOW POINTE III & IV
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SITE 3 - PARCELS MM, NN
Site 4 - Parcels E, F• Parcels E and F are located just southwest of Site 1 (Parcels A, B, C, D)
• 71 Gross acres
• Vacant Multi-Family parcels; Zoned MPUD (Master Planned Unit Development)
• Entitled for 792 units
Property Value Parcel E1 Parcel E2 Parcel FSize (acres) 28.2 42.8Units per Acre 7.98 13.25Ag Land $0 $2,113 $3,250Land $67,062 $110,050 $159,750Building $0 $0 $0Extra Features $0 $0 $0Just Value (Classified Use Value) $67,062 $2,113 $3,250Taxable Value $67,062 $2,113 $3,250
SITE 4
FE2
E1
OFFERING SUMMARY P. 7
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Location - Wesley Chapel, FloridaWesley Chapel is a residential and com-mercial growth market developed around golf courses, lakes and open spaces. The population in Wesley Chapel is modest at 25,564 in three miles, but encompassing more than half of the total 44,092 living in the community. Growth in Wesley Chapel between 2000 and 2010 was a whopping 267 percent. Average Household Income is above average at $77,037. The employ-ment population is modest with 5,051 employees within three miles. Wesley Chapel has been a major catalyst in the rapid growth of Pasco County, 38th fast-est growing county in the nation.
Since 2000, newcomers from in and out of state have populated new luxury com-munities such as Meadow Pointe, Citrus Trace, Saddlewood, Brooksville, Brid-geview, Watergrass, Villages of Wesley Chapel, Seven Oaks, Chapel Pines, Bridge-water, Northwood, Saddlebrook and Lex-ington Oaks. Several townhome develop-ments have been built, Saddle Creek and
WESLEY CHAPEL LAKES | MEADOW POINTE III & IV
LOCATION
Santa Fe. The area has two middle schools and two high schools, half of which are brand new. The newest of the two high schools and middle schools is located in Meadow Pointe.
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Many new businesses have come to the area as well. Three major shopping centers have opened in recent years, The Shops at Wiregrass, The Grove at Wesley Chapel, and Towne Centre at Wesley Chapel.
Wesley Chapel Florida
DEMOGRAPHIC SUMMARY
Spring 2010 1 mile 3 mile 5 mileTotal Population 2,624 18,163 59,903
Median Age 34 34.7 35.9
Population Density 835.6 642.6 762.9
Employees 734 3,931 12,057
Establishments 64 340 1,128
Median HH Income $74,765 $68,605 $67,881
Per Capita Income $26,152 $24,733 $25,932
Average HH Income $78,186 $72,183 $72,912
Total Households 924 6,440 21,262
MARKET OVERVIEW
Market OverviewThe Shoppes at Wiregrass Mall opened in 2009 as the first Lifestyle Center in Tampa Bay. It contains 800,000 square feet and is anchored by JC Penney, Macy’s, Dil-lards, Barnes & Noble & Pottery Barn. Wiregrass has been a success story due to its pedestrian friendly atmosphere and mix of specialty retail and dining. The Shops at Wiregrass, which is located within 4 miles of each of the Meadow Pointe sites, is on two major commuter routes – SR 56 and Bruce B. Downs Bou-levard. A hospital is under construction adjacent to the mall to and will add day-time population to the residential activity.The Grove at Wesley Chapel opened in 2008. The Grove is a 400,000 square foot power center anchored by Best Buy, Dick’s Sporting Goods, Ross, TJMaxx, PetSmart, Bed Bath & Beyond, Toys R Us/Babies R Us, and a Cobb Theatre.
Towne Centre at Wesley Chapel is a neigh-borhood shopping center anchored by Sweetbay Supermarket and located at the northeast corner of State Road 54 and Quail Hollow Blvd. in Wesley Chapel. Improvements have been completed on the west side but not the east. Road improvements for west bound SR 54 are now underway and are expected to be completed in the first quarter of 2012.
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Source: Demographics Now
Tampa Bay Florida
OFFERING SUMMARY P. 9
WESLEY CHAPEL LAKES | OFFERING SUMMARY
The information herein is provided “ONLY AS AN INTRODUCTION TO THE PROPERTY”. All parties interested in purchasing should base their final decision on the results of their own independent inspection of the property. All parties should satisfy themselves as to the condition of the property with respect to the legal, environmental or physical conditions of the property and title thereto. All financial data provided is given for information purposes and is not guaranteed. All parties should perform their own market feasibility study to determine the soundness of the financial data provided and the physical condition of the property. The Owner, Agent and all parties acting on behalf of the Owner or Agent hereby make no representations as to the accuracy or completeness of the information included in this property profile. Unless provided to the buyer under separate cover, no environmental study has been done for this property. This information is believed to be accurate, we are not responsible for misstatements of facts, errors or omissions, prior sale, changes of price or withdrawal from the market without notice.
PRESENTED BY:Lee E. Arnold, Jr. CCIM, CRE
CEO & Chairman of the Board Tampa Bay, Central FL, Southwest FLDIRECT +1 727 443 6383 EMAIL [email protected]
Steven LannonAsset Management | Tampa Bay DIRECT +1 727 442 7094 EMAIL [email protected]
Tampa Bay Florida
