WAWA - Capital Pacific Wawa Inc. is a convenience store/gas station chain that is prominent...

WAWAPOINCIANA, FL

REPRESENTATIVE PHOTO

NEW CORPORATE GROUND LEASE WITH RENTAL ESCALATIONS EVERY 5 YEARS


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WAWA

4.75%CAP

$3,474,000PRICE

CYPRESS PKWY & OLD PLEASANT HILL RD, POINCIANA, FL 34758

New 20-year Corporate Ground Lease

8% rental escalations every 5 years in the base term and options

Landlord receives a 16% rental increase at the start of year 11

Property benefits from traffic counts of 55,000+ VPD

Located in a flourishing high growth area

Florida has no state income tax

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

BUILDING SF6,100 SF

LEASE EXPIRATION2038

LEASE TYPEGround Lease

LAND AREA88,426 SF

YEAR BUILT2018

REPRESENTATIVE PHOTO 3

Overview

https://goo.gl/maps/C4wZyqNbPin

https://www.google.com/maps/place/Old+Pleasant+Hill+Rd+%26+Cypress+Pkwy,+Poinciana,+FL+34758/data=!4m2!3m1!1s0x88dd9c1342f67e97:0xb33e44edc40939fc?sa=X&ved=0ahUKEwjX9pKkuuTXAhUYzWMKHTdICKEQ8gEIKDAA

THE OFFERING provides an investor with the opportunity to acquire a corporate Wawa on a new 20-year ground lease, with rent commencement anticipated for March 7, 2018. The lease features 8% rental escalations every 5 years throughout both the base term and option periods, except for year 11, which has a 16% rent increase. The Poinciana Wawa property is situated on the corner of Cypress Parkway and Old Pleasant Hill Road, and is clearly visible from both streets. Cypress Parkway and Old Pleasant Hill Road is a high traffic intersection, and is an ideal location for a fueling station.

THE SUBJECT PROPERTY is located in the epicenter of Poinciana’s primary retail node. Directly across Cypress Parkway is the Poinciana Towne Center, a Walmart Supercenter anchored center. Other tenants in the shopping center include Hibbett Sports, Aldi and Chase Bank. Other major developments in the immediate vicinity are The Promenade, a Publix anchored neighborhood center, and Solivita Marketplace, a mixed use project anchored by Walgreens, and The Pointe, anchored by Lowe’s Home Improvement. Wawa is in close proximity to Poinciana Medical Center (PMC), a recently constructed hospital that serves the growing healthcare needs of the Poinciana community.

CHRIS [email protected]: 415.274.2701CA BRE# 01002010

Contact the team

WAWA IS SITUATED IN A HIGHLY DENSE RESIDENTIAL MARKET



ZEB [email protected]: 415.274.2702CA BRE# 01242540


JACK [email protected]: 415.274.2705

CA BRE# 01909630

IN CONJUNCTION WITH FL LICENSED BROKER: Andrew T. Knight

New England Commercial Brokerage

860.648.1600

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Investment Highlights

mailto:ck%40capitalpacific.com%0D?subject=

Mar

igol

d Av

enue

Koa Street

Koa Street

S Poinciana Boulevard

N D

over

plum

Av

enue

S Doverplum Avenue

Cypress Parkway

Cypress Parkway

Old P

leasa

nt

Hill R

oad

Old

Plea

sant

Hill

Road

STONEGATE GOLF CLUB

Tillamook High School

®

Poinciana Towne Center

The Promenade

CITY LIBRARY

Solivita Marketplace

55,000 VPD42,365

VPD

Shoppes at Poinciana

ORLANDO39 MILES

This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 5

Aerial

Mattress FirmPopeyesWaybackBurger KingHungry Howie’sHardee’sWalmart

Dunkin’ DonutsDenny’sBank of AmericaPizza HutCircle KPublix Super MarketWendy’s

Chase BankFamily DollarLittle Caesars PizzaWells Fargo BankWalgreensDomino’s PizzaKFC

BUSINESS SUMMARY

KEY 1-MILE 3-MILES 5-MILES

TOTAL 1-MILE 3-MILES 5-MILES

Businesses 144 394 572

Employees 1,206 4,175 6,048

Residential Population 2,423 36,117 67,735


Submarket Overview

RETAILERS IN CLOSE PROXIMITY INCLUDE:


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PRICE $3,474,000 Price Per Square Foot: $39.29

Capitalization Rate: 4.75%

* Total Rentable Area (SF of land): 88,426

Lot Size (AC): 2.03

STABILIZED INCOME PER SQUARE FOOTScheduled Rent $1.87 $165,000

Effective Gross Income $1.87 $165,000

LESS PER SQUARE FOOTTaxes NNN $0.00

Insurance NNN $0.00

Total Operating Expenses NNN $0.00

EQUALS NET OPERATING $165,000 * The building within the premises is 6,100 square feet

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Income & Expense


16% RENTAL INCREASE IN YEAR 11

TENANT INFO LEASE TERMS RENT SUMMARY

TENANT NAME SQ. FT. Years CURRENT RENT

MONTHLY RENT

YEARLY RENT

MONTHLY RENT/FT

YEAR RENT/FT

Wawa 88,426 1 5 $165,000 $13,750 $165,000 $0.16 $1.87

6 10 $14,850 $178,200 $0.17 $2.02

11 15 $17,161 $205,928 $0.19 $2.33

16 20 $18,534 $222,402 $0.21 $2.52

Option 1 21 25 $20,016 $240,194 $0.23 $2.72

Option 2 26 30 $21,617 $259,410 $0.24 $2.93

Option 3 31 35 $23,347 $280,163 $0.26 $3.17

Option 4 36 40 $25,215 $302,576 $0.29 $3.42

Option 5 41 45 $27,232 $326,782 $0.31 $3.70

Option 6 46 50 $29,410 $352,924 $0.33 $3.99

TOTALS: 88,426 $165,000 $13,750 $165,000 $0.16 $1.87

The building within the premises is 6,100 square feet

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Rent Roll

BASE RENT

DATE RANGE MONTHLY RENT ANNUAL RENT

1-5 $13,750 $165,0006-10 $14,850 $178,20011-15 $17,160 $205,92716-20 $18,535 $222,402

OPTION RENTS

DATE RANGE MONTHLY RENT ANNUAL RENT

21-25 $20,016 $240,194 26-30 $21,617 $259,40931-35 $23,246 $280,16236-40 $25,214 $302,57541-45 $27,231 $326,781 46-50 $29,410 $352,924

RENT

TENANT Wawa Florida, LLCBUILDING SF 6,119 SFLEASE TYPE Ground LeaseTERM 20 Years RENT COMMENCEMENT Anticipated for 03/07/2018CERTIFICATE OF OCCUPANCY Anticipated for 06/15/2018 OPTIONS Six (6) Five (5) year renewal options

PREMISE& TERM

TAXESTenant shall pay, directly to the taxing authority, all taxes levied against the Premises.

INSURANCETenant shall maintain insurance on an occurrence basis for personal injury and property damage ($3 million per occurrence), as well as “all risk” or “special form” insurance on all tenant improvements. Landlord shall maintain insurance on an occurrence basis for personal injury and property damage ($3 million per occurrence).

UTILITIES

Tenant is responsible for direct payment of all utilities to the appropriate billing authority.

TENANT’S OBLIGATIONSTenant is responsible for all maintenance and repair to the entirety of the Premises, including all interior and exterior, structural and nonstructural repairs and replacement.

LANDLORD’S OBLIGATIONS

Zero expense obligations.

EXPENSES


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Lease Abstract

This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

PLEA

SANT

HIL

L RO

AD

CYPRESS PARKWAY

2,10

0 SF

1,40

0 SF

1,40

0 SF

1,40

0 SF

1,40

0 SF

1,40

0 SF

1,40

0 SF

1,40

0 SF

4,000 SF

4,000 SF 4,000 SF

7,350

SF

Site Plan


PENDING FAST FOOD

RESTAURANT

PENDING FINANCIAL

INSTITUTION

55,000 VPD

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Site Plan

6,119RENTABLE SF

88,426LAND AREA SF


la

11


PLEASANT

HILL ROAD

CYPRESS PARKWAY

FUEL PRICING

SIGN

55SPACES

16GAS PUMPS

*The Wawa under construction will feature a 6,119 square foot convenience store and 7,150 square foot gas canopy.

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Site Plan

Wawa Inc. is a convenience store/gas station chain that is prominent throughout the East Coast, with 720+ stores across 6 states. Wawa provides fresh, built-to-order foods, beverages, coffee, fuel services, and surcharge-free ATMs. Wawa is a privately held company, and offers associates to participate in the Employee Stock Ownership Plan, having a nearly 30% ownership stake.

With a keen focus on its employees and customers, Wawa separates itself from the competition by delivering fast and welcoming customer service in a clean setting, in addition to developing its own in-house branded food and beverage options. Winner of the 2017 Foodservice Innovator of the Year award for the second time in five years, Wawa locations offer mobile ordering and self-serve kiosks. To date, there are over 110 Wawa locations in Florida, after having first tapped into this market in 2012.

ABOUT WAWA



#34FORBES AMERICA’S LARGEST PRIVATE

COMPANIES

NUMBER OF EMPLOYEES

30,000+

REVENUE FOR YEAR ENDING 12/31/2016

$9.1 Billion

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Tenant Overview

POPULATION

1-MILE 3-MILES 5-MILES

2010 1,885 29,733 54,589

2017 2,423 36,117 67,735

2022 2,846 41,428 76,891

2017 HH INCOME

1-MILE 3-MILES 5-MILES

Average $58,752 $60,322 $62,063

Median $45,493 $46,805 $49,319

OSCEOLA COUNTY TOP EMPLOYERS

EMPLOYER # OF EMPLOYEES

Osceola County School District 6,000

Walt Disney Company 3,700

Walmart Stores, Inc 2,730

Gaylord Palms Resort & Convention Center 1,445

Osceola Regional Medical Center 1,357

POINCIANA

ORLANDO (45 MIN 39 MILES)

THE AVERAGE HOUSEHOLD INCOME WITHIN A 3-MILE RADIUS

IS OVER $60K


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Demographics

POINCIANA, FLORIDA

POINCIANA lies southwest of Kissimmee and approximately 40 miles from downtown Orlando, and is one of America’s largest and fastest selling master-planned communities, encompassing some 47,000 acres. Ranked the second Best Selling Master-Planned Community in the United States in 2004 and 2005 with a total of 5,642 new home sales, Poinciana was also named one of America’s 100 Nicest Places to Live by Relocate.America.com following a 5-year study of over 5,100 communities throughout the United States. Poinciana currently is home to more than 53,000 residents living in the community’s primary housing and the active-adult community of Solivita, Avatar’s 3-time winner of Where to Retire magazine’s 100 best communities list.

TUSCAN ISLE, a 213,000 square foot adult congregate living community is located approximately 2 miles west of the Shoppes of Poinciana. The project site is in a Mixed Use

Planned Unit Development consisting of approximately 9 acres within the Solivita Marketplace. The $47.8M facility is comprised of 120 independent living units, 56 assisted living unites (62 beds) and 36 memory care units. The units range from 300-1,250 square feet and is a mix of studio, one and two bedrooms.

RETIREMENT COMMUNITY

53,193

POINCIANA POPULATION (ESTIMATED)


ORLANDO, FL

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Location Overview

We’d love to hearfrom you.

CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM:


IN CONJUNCTION WITH FL LICENSED BROKER: Andrew T. Knight

New England Commercial Brokerage

860.648.1600

JOE CACCAMOJOHN ANDREINI

ZANDY SMITH

DAVE LUCAS

RICK SANNER AARON SUSMAN

CHRIS KOSTANECKIZEB RIPPLE CHRIS PETERS

JACK NAVARRA


ZEB [email protected]: 415.274.2702CA BRE# 01242540


JACK [email protected]: 415.274.2705

CA BRE# 01909630

http://capitalpacific.com/team/

WAWA - Capital Pacific Wawa Inc. is a convenience store/gas station chain that is prominent...

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