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P ALM BAY , FLORIDA

Wawa

Asking Price: $5,888,888Cap Rate: 4.50%

BOSTON, MA | CHAPEL HILL, NC | CHARLOTTE, NC | JUPITER, FL | LOS ANGELES, CA | PITTSBURGH, PA | ATLANTICRETAIL.COM

Michael Zimmerman919.391.9901 [email protected]

Representative Photo

ATLANT ICRETAIL .COM | 1WAWA


GROWING TRADE AREAOne hour southeast of Orlando and midway between Jacksonville and Miami, Palm Bay is a thriving, business-friendly city with a high-tech, educated workforce. The community has a blend of new and established business clusters, competitive incentives, and a stable tax structure.

EASILY ACCESSIBLE LOCATIONThe Property is positioned off Interstate 95 in close proximity to Palm Bay Hospital and is located at the signalized intersection of Malabar Road and Emerson Drive (39,200 VPD combined).

QUALITY, LONG-TERM INVESTMENTThis long-term lease (20 years) features five (5) percent increases every five (5) years starting in Year 11 and within each of the six five-year options to extend. There are no landlord responsibilities.

$58,731AVG HH INCOME IN 5-MILE RADIUS

42,764VPD ON NEARBY INTERSTATE 95

132,281EST POPULATION IN 5-MILE RADIUS

$2.61 BAVG HH SPENDING IN 5-MILE RADIUS



Wawa Wawa owns and operates more than 645 Wawa Food Markets in Delaware, Maryland, New Jersey, Pennsylvania, Virginia and Central Florida. Wawa is your all day, every day stop for fresh, built-to-order foods, beverages, coffee, fuel services and surcharge-free ATMs; over 365 stores offer gasoline (many of which also sell diesel). Unlike other convenience store chains, Wawa boasts its own dairy, which supplies Wawa stores and approximately 1,000 hospitals, schools and other institutions. The Company opened its first store in 1964 and, on April 16, 2014, to celebrate its 50th anniversary, Wawa gave away free coffee to customers and launched a nonprofit foundation to donate $50 million to health and hunger initiatives. Most stores are open 24 hours a day, 365 days a year.



Lease Summary

TENANT Wawa Florida, LLC

GUARANTOR Corporate

BUILDING +/- 6,119 SF

YEAR BUILT 2017

LAND SIZE +/- 2.20 acres

COMMENCEMENT April/May 2018

EXPIRATION April/May 2038

LEASE TERM 20 Years

ANNUAL RENT $265,000.00 ($43.41/SF)

OPTIONS 6 x 5-Year Options

INCREASES 5% Every 5 Years (Starting in Year 11)

LEASE TYPE Ground

YEARS ANNUAL RENT INCREASE

1–5 (Base Term) $265,000.00 ($43.41/SF) None

6–10 (Base Term) $265,000.00 ($43.41/SF) None

11–15 (Base Term) $278,250.00 ($45.47/Sf) 5%

16–20 (Base Term) $292,162.50 ($47.75/SF) 5%

21–25 (Option 1) $306,770.63 ($50.13/SF) 5%

26–30 (Option 2) $322,109.16 ($52.64/SF) 5%

31–35 (Option 3) $338,214.61 ($55.27/SF) 5%

36–40 (Option 4) $355,125.34 ($58.04/SF) 5%

41–45 (Option 5) $372,881.61 ($60.94/SF) 5%

46–50 (Option 6) $391,525.69 ($63.99/SF) 5%

Rent Schedule


MALABAR ROAD

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EASTERN FLORIDA STATE COLLEGE

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INTERSTATE 95


MALABAR ROAD23,000 VPD INTERSTATE 95

42,764 VPD

SAN FILIPPO DRIVE7,900 VPDEMERSON DRIVE

16,200 VPD


EASTERN FLORIDA STATE COLLEGE

UPS PALM BAY EXCHANGE

THE PALM BAY AQUATIC CENTER

PALM BAY ACADEMY MIDDLE SCHOOL

COLUMBIA ELEMENTARY

SCHOOL

LIBERTY PARK

TURNER ELEMENTARY

SCHOOL

MALABAR ROAD MALABAR ROAD

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INTERSTATE 95

INTER

STATE 95

Palm Bay Hospital is a 152-bed not-for-profit hospital that offers the residents of Palm Bay and neighboring communities in Brevard County convenient access to quality health care.

PORT MALABARMIDDLE SCHOOL

SOUTHWESTMIDDLESCHOOL

CHRISTA MCAULIFFE ELEMENTARY SCHOOL

ROYAL PALM CHARTER SCHOOL

MALABAR ROAD23,000 VPD

EMERSON DRIVE16,200 VPD

INTERSTATE 9542,764 VPD

AREA ATTRACTIONS 1. Palm Bay Hotel & Conference Center • 4.6 miles 2. Florida Institute of Technology • 6.3 miles 3. Valkaria Airport-X59 • 8.8 miles 4. Orlando Melbourne International Airport • 9.4 miles 5. Eastern Florida State College • 14.0 miles 6. Brevard Zoo • 19.9 miles 7. Patrick Air Force Base • 24.9 miles 8. Cape Canaveral • 32.0 miles 9. Walt Disney World • 65.3 miles 10. Orlando International Airport • 65.5 miles 11. Orlando, Florida • 74.1 miles


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Orlando one of the world’s most visited tourist destinations, and is known as the “Theme Park Capital of the World.” In 2014, its various attractions drew more than 62 million visitors to the area. Orlando is also a major hi-tech center with a $13.4 billion tech industry.


PALM BAY IS A GROWING BUSINESS COMMUNITYPalm Bay is the most populous city in Brevard County and is a principal city of the Palm Bay-Melbourne-Titusville MSA, which has a population of 543,376 at the 2010 census. Forbes ranked Palm Bay as the 11th most innovative city in the U.S. in 2010 thanks to its high-tech companies, top-ranked schools and access to top-tier medical services.


PALM BAY IS PART OF THE FAMOUS SPACE COASTPalm Bay is situated near the center of the state’s Atlantic coastline and is included in the region known as the Space Coast. The city is near Cape Canaveral, which is home to the Cape Canaveral Air Force Station and Port Canaveral, one of the busiest cruise ports in the world. The famous Kennedy Space Center—the primary launchpad for human space exploration—is located on nearby Merritt Island.

EASY ACCESS TO REGIONAL ENTERTAINMENT DESTINATIONSWhite sandy beaches are just minutes away from the heart of Palm Bay, and the city is less than one hour from the world-class amusement parks and entertainment in Orlando.


2017 DEMOGRAPHICS 1 MILE 3 MILES 5 MILES

Estimated Population 7,804 58,233 132,281

2022 Projected Population 8,667 64,214 145,692

2010 Census Population 7,580 55,466 123,917

2000 Census Population 5,931 44,421 93,909

Projected Annual Growth (2017–2022) 2.2% 2.1% 2.0%

Historical Annual Growth (2000–2017) 1.9% 1.8% 2.4%

Estimated Households 3,173 23,365 53,679

2022 Projected Households 3,337 24,399 56,005

2010 Census Households 3,008 21,654 49,002

2000 Census Households 2,397 16,984 37,022

Projected Annual Growth (2017–2022) 1.0% 0.9% 0.9%

Historical Annual Growth (2000–2017) 1.9% 2.2% 2.6%

Est. HH Income $200,000+ 1.2% 1.7% 1.8%

Est. HH Income $150,000-$199,999 0.7% 1.8% 2.7%

Est. HH Income $100,000–$149,999 7.9% 8.8% 10.1%

Est. HH Income $75,000-$99,999 10.0% 13.0% 12.7%

Est. HH Income $50,000–$74,999 27.8% 22.2% 21.3%

Est. HH Income $35,000–$49,999 18.6% 17.7% 16.4%

Est. HH Income $25,000–$34,999 11.2% 13.4% 12.3%

Est. HH Income $15,000–$24,999 9.9% 10.8% 11.9%

Est. HH Income Under $15,000 12.8% 10.7% 10.9%

Est. Average Household Income $50,891 $56,708 $58,731

Est. Median Household Income $46,670 $48,408 $50,530

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2017 DEMOGRAPHICS 1 MILE 3 MILES 5 MILES

Est. White 73.3% 71.3% 73.0%

Est. Black 16.9% 18.0% 16.6%

Est. Asian or Pacific Islander

2.4% 2.6% 3.1%

Est. American Indian or Alaska Native

0.4% 0.4% 0.4%

Est. Other Races 6.9% 7.7% 6.9%

Est. HispanicPopulation

1,319 9,617 19,631

Est. HispanicPopulation

16.9% 16.5% 14.8%

2022 ProjectedHispanic Population

18.6% 18.1% 16.3%

2010 HispanicPopulation

14.3% 14.3% 12.9%

2017 Demographics

ATLANT ICRETAIL .COM | 1 1WAWA

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Confidentiality & DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Atlantic Retail Investment Services and should not be made available to any other person or entity without the written consent of Atlantic Retail Investment Services. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Atlantic Retail Investment Services has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Atlantic Retail Investment Services has not verified, and will not verify, any of the information contained herein, nor has Atlantic Retail Investment Services conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.


P ALM BAY , FLORIDA

Wawa

Asking Price: $5,888,888Cap Rate: 4.50%

BOSTON, MA | CHAPEL HILL, NC | CHARLOTTE, NC | JUPITER, FL | LOS ANGELES, CA | PITTSBURGH, PA | ATLANTICRETAIL.COM

Michael Zimmerman919.391.9901 [email protected]


Documents

Representative Photo - LoopNet