Investment Highlights · Tenant Circle K Stores, Inc. Guarantor Circle K Stores, Inc. Address 1190...

Asking Price: Cap Rate: Asking Price: Cap Rate:

NORTH LAUDERDALE, FLORIDA

Circle K

Asking Price: Cap Rate: Asking Price: Cap Rate: Asking Price: Cap Rate: Asking Price: Cap Rate: Asking Price: $3,608,247Cap Rate: 4.85%

MICHAEL ZIMMERMAN + [email protected]

Attractive Investment+ Circle K Corporate Guarantee With 7 x 5-Year Options+ Management-Free Investment for Passive Investor+ Tenant Pays All Expenses and Maintains Building+ Rare 5% Increases in Year 11 and Within Options+ Absolute NNN Ground Lease Land Ownership + Adjacent to Future ALDI Site

Prime Retail Location+ 460K+ People and 208K Employees Support Trade Area + Adjacent to Two Apartment Communities (341 Units)+ Located at Signalized Intersection (48,200 ADT) + Prime Location Near Publix-Anchored Center

Ease of Accessibility+ Close Proximity to the Florida Turnpike (88,400 ADT)+ Three Miles From Fort Lauderdale Executive Airport+ New Building With Excellent Visibility and Frontage + Increases Consumer Draw and Crossover Traffic

TEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENTCELEBRAT ION T R IA N GL E RETAIL | DEMOGRAPHICSTEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENT groundandspacepartners.com + 1Circle K + Investment Highlights

Investment Highlights

Tenant Circle K Stores, Inc.

Guarantor Circle K Stores, Inc.

Address 1190 South State Road 7 N. Lauderdale, FL 33068

Asking Price $3,608,247

Cap Rate 4.85%

Annual Rent $175,000 ($43.75/SF)

Year Built 2017

Building Size ± 4,000 SF

Lot Size ± 2.01 Acres

Lease Term 15 Years

Lease Type Ground

Commences August 27, 2017

Expiration August 31, 2032

Options 7 x 5-Year Options

Increases 5% in Year 11 of Base Term & Within Options

Ownership Leased Fee (Land Ownership)

Landlord No Responsibilities

Lease Summary

Rent ScheduleYears Annual Rent1–10 (Base Term) $175,000 ($43.75/SF)

11–15 (Base Term) $183,750 ($45.94/SF)16–20 (Option 1) $192,938 ($48.23/SF)

21–25 (Option 2) $202,585 ($50.65/SF)

26–30 (Option 3) $212,714 ($53.18/SF)

31–35 (Option 4) $223,350 ($55.84/SF)

36–40 (Option 5) $234,518 ($58.63/SF)

41–45 (Option 6) $246,244 ($61.56/SF)

46–50 (Option 7) $258,556 ($64.64/SF)

Investors have a rare opportunity to acquire the leased fee (Land Ownership) interest in Circle K, a newly-constructed Absolute NNN Ground leased investment property in North Lauderdale, Florida. The tenant recently executed a new, 15-year Ground Lease with seven (7) five-year options to extend. The lease features a five percent rental increase in Year 11 of the Base Term as well as at the beginning of each option period. The lease is corporate guaranteed and is an Absolute NNN (Ground Lease) with no landlord responsibilities. The tenant pays for all Common Area Maintenance, insurance and real estate taxes, and the tenant is also responsible for maintaining all aspects of the building. This management-free investment is ideal for a passive investor.

Preferential Right to Purchase The landlord agrees not to sell all or any portion of the premises without first giving the tenant written notice of each proposed sale that the landlord is willing to accept stating therein the price and all other terms and conditions thereof. Upon receipt of any such notice, the tenant shall have the preferential right to purchase the premises at the purchase price upon the other terms and conditions set forth in the notice. The tenant shall have 15 days after delivery of such notice to notify the landlord in writing that the tenant elects to exercise such right. The notice period shall be extended to 30 days upon transfer of the premises by the original landlord to an unrelated third party.

Summary

Future Site of ALDI

TEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENTCELEBRAT ION T R IA N GL E RETAIL | DEMOGRAPHICSTEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENT groundandspacepartners.com + 2Circle K + Lease Summary

Circle K is an international chain of convenience stores founded in 1951 in El Paso, Texas. Circle K has become one of the most widely recognized convenience store brands, known worldwide for quality products and great customer service. Circle K offers an assortment of coffee, fountain drinks, beer, snacks, candy, ATM services, mobile prepaid wireless phones, gift cards, money orders, tobacco and other general merchandise products.

There are currently more than 15,000 Circle K locations worldwide, and the convenience store chain can be found in most of the 50 U.S. States. In 2003, Circle K was acquired by Alimentation Couche-Tard and has developed into a global brand represented in over 20 countries. The Circle K Corporation now operates as a subsidiary of Alimentation Couche-Tard Inc., one of the largest company-owned convenience store operators in the world. Couche-Tard operates more than 12,000 stores across Canada, the United States, Europe, Mexico, Japan, China and Indonesia.

Circle K Tenant ProfileCompany Type Wholly Owned Subsidiary

Parent Company Alimentation Couche-Tard

Headquarters Tempe, Arizona (Circle K)Quebec, Canada (Couche-Tard)

Employees (2017) 120,000 (Couche-Tard)

Revenue (2017) $37.9 Billion (Couche-Tard)

Net Income (2017) $1.2 Billion (Couche-Tard)

Stock Symbol TSX: ATD.A, ATD.BS&P/TSX 60 Component

Divisions Couche-Tard, Mac’s, Circle K, Topaz Energy, Statoil Fuel & Retail, On The Run & Holiday Stationstores

Locations 15,000+ (Circle K)

Website circlek.com couche-tard.com

TEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENTCELEBRAT ION T R IA N GL E RETAIL | DEMOGRAPHICSTEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENT groundandspacepartners.com + 3Circle K + Tenant Profile

Circle KMarket Overview

North Lauderdale, Florida

TEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENTCELEBRAT ION T R IA N GL E RETAIL | DEMOGRAPHICSTEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENT groundandspacepartners.com + 4Circle K + Market Overview

Future Site of ALDI

GK Kio GasStation

State Road 7/U.S. 441

48,000 ADT

TEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENTCELEBRAT ION T R IA N GL E RETAIL | DEMOGRAPHICSTEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENT groundandspacepartners.com + 5Circle K + Aerial

Louder Ridge Garden Apartments

152 Units

Oakland Hills Apartments 189 Units

SW 12th Street


48,000 A

DT

1190 South State Road 7 North Lauderdale, FL 33068

GK Kio Gas Station

Jeff’s ExpressCar Wash

Future Site of ALDI


SW 12th Street


48,000 A

DT

Residential Developments

Florid

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119,

400

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NW 62nd Street

W McNab Road

NW

31st Avenue

Florida Turnpike 35M+ Annual Visitors 3rd Busiest Toll Road

Future ALDI Site


Fort Lauderdale Executive Airport

Palm Aire Country Club

Woodland Country Club

Fairways of Inverrary

Purdue University

Global

Isle Casino Racing Pompano Park

Xtreme Action Park

Florid

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(Toll

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119,

400

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West McNab Road 46,000 ADT

275,

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Rock

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CYPRESS CREEK ROAD 49,500 ADT

Commercial Boulevard 56,500 ADT

Commercial Boulevard 54,500 ADT

Pow

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49,5

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Fort Lauderdale Beach11.5 Miles From Site

17.4 Miles From Site

Future ALDI Site

LockhartStadium


Major Area Attractions 1. Sawgrass Mills 2. Westfield Broward Mall; 3. BB&T Center;

4. Seminole Casino Coconut Creek; 5. Isle Casino Racing Park.

REPRESENTATIVE PHOTO

TEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENTCELEBRAT ION T R IA N GL E RETAIL | DEMOGRAPHICSTEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENT groundandspacepartners.com + 9Circle K + Major Area Attractions

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Sawgrass Mills is the largest outlet and value retail shopping destination in the United States and features more than 300 retail outlets and name brand discounters, with anchors including Off 5th Saks Fifth Avenue and Super Target. The mall is divided into three parts because of its massive size—Sawgrass Mills has nearly 2,384,000 square feet of retail space—and included the main mall, which features four main “Avenue” sections and a “Fashion Avenue” subsection; The Oasis at Sawgrass Mills, an outdoor component that includes Nordstrom Rack and The Cheesecake Factory; The Colonnade Outlets at Sawgrass Mills, an upscale lifestyle area with luxury shops and restaurants; and numerous outparcel stores and plazas.

Sawgrass Mills10.2 Miles From Circle K Site

TEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENTCELEBRAT ION T R IA N GL E RETAIL | DEMOGRAPHICSTEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENT groundandspacepartners.com + 10Circle K + Nearby Shopping Centers

Sawgrass Mills Expansion An expansion is scheduled to open in 2018 called the Town Center at Sawgrass Mills, which will feature 25 full-price retailers, four new dine-in restaurants and another new parking garage that will accommodate 2,000 vehicles. The new expansion will be situated next to the recently expanded Colonnade Outlets and will act as an extension to the Colonnade Outlets.

Pivotal South Florida LocationNorth Lauderdale is a compact city in the center of Broward County that is home to more than 42,000 residents from across the globe. The city’s pivotal location in the heart of South Florida allows residents and visitors to benefit from a diverse community and a vibrant economy.

Within Larger Broward CountyThe city of North Lauderdale sits within Broward County, the second most populous county in Florida and the 17th most populous county in the country. As of 2016, the population was 1,909,632, and the larger Miami metropolitan area is home to nearly 6.1 million people.

Proximity to Fort LauderdaleThe Property is less than 10 miles from the Fort Lauderdale coastline and the world-famous Fort Lauderdale Beach. This area offers many opportunities for recreation, relaxation and enjoyment. The picturesque Riverwalk serves as the cornerstone of the city’s arts, science, cultural and historic districts, while Las Olas Boulevard has gained international acclaim as Fort Lauderdale’s centerpiece of fashion, fine dining and entertainment.

Business-Friendly EnvironmentThis area of Broward County offers an outstanding quality of life, highlighted by a semi-tropical climate, natural beauty and an array of cultural, entertainment and educational amenities. The Fort Lauderdale area has established itself as a world-class international business center and is one of the most desirable locations for new, expanding or relocating businesses. The area’s economy used to be mainly grounded in tourism, but the Fort Lauderdale area now supports a diverse range of industries, including marine, manufacturing, finance, insurance, real estate, high technology, film, television production and aerospace.

Area Overview

TEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENTCELEBRAT ION T R IA N GL E RETAIL | DEMOGRAPHICSTEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENT groundandspacepartners.com + 11Circle K + Area Overview

DEMOGRAPHICS 1 MILE 3 MILES 5 MILES

Estimated Population 25,342 156,932 465,407

2022 Projected Population 26,750 165,593 491,323

2010 Census Population 23,841 145,887 431,997

2000 Census Population 23,085 143,008 423,294

Projected Annual Growth (2017–2022) 1.1% 1.1% 1.1%

Estimated Households 7,997 61,186 180,567

2022 Projected Households 8,405 64,182 189,610

2010 Census Households 7,597 57,780 169,947

2000 Census Households 7,993 58,823 171,416

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

Est. HH Income $200,000+ 1.1% 1.6% 1.9%

Est. HH Income $150,000-$199,999 2.6% 2.2% 2.8%

Est. HH Income $100,000–$149,999 10.0% 8.9% 9.4%

Est. HH Income $75,000-$99,999 14.2% 11.1% 10.9%

Est. HH Income $50,000–$74,999 23.6% 20.8% 19.5%

Est. HH Income $35,000–$49,999 17.9% 16.6% 16.0%

Est. HH Income $25,000–$34,999 11.8% 12.7% 12.5%

Est. HH Income $15,000–$24,999 10.2% 13.3% 13.4%

Est. HH Income Under $15,000 8.7% 12.7% 13.4%

Est. Average Household Income $61,364 $57,832 $59,128

Est. Median Household Income $50,886 $44,077 $43,838

Est. White 36.6% 45.3% 44.7%

Est. Black 48.9% 43.0% 44.0%

Est. Asian or Pacific Islander 3.6% 3.1% 3.0%

Est. American Indian or Alaska Native 0.3% 0.3% 0.3%

Est. Other/Multiple Races 10.5% 8.3% 7.9%

Est. Hispanic Population 27.9% 24.6% 23.1%

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TEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENTCELEBRAT ION T R IA N GL E RETAIL | DEMOGRAPHICSTEXAS ROAD HOU SE | INVESTMENT H IGHL IGHTSTEXAS ROAD HOU SE | AER IALTEXAS ROAD HOU SE | R IVERVIEW OVERVIEWTEXAS ROAD HOU SE | H IL L S BOROUGH COUNTY DEVELOPMENT groundandspacepartners.com + 12Circle K + Demographics

The 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 Ground + Space and should not be made available to any other person or entity without the written consent of Ground + Space. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a prelimi-nary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Ground + Space 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, Ground + Space has not verified, and will not verify, any ofthe information contained herein, nor has Ground + Space 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.

Demographics

Asking Price: Cap Rate: Asking Price: Cap Rate:

NORTH LAUDERDALE, FLORIDA

Circle K

Asking Price: Cap Rate: Asking Price: Cap Rate: Asking Price: Cap Rate: Asking Price: Cap Rate: Asking Price: $3,608,247Cap Rate: 4.85%

MICHAEL ZIMMERMAN + [email protected]

Investment Highlights · Tenant Circle K Stores, Inc. Guarantor Circle K Stores, Inc. Address 1190...

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Transcript of Investment Highlights · Tenant Circle K Stores, Inc. Guarantor Circle K Stores, Inc. Address 1190...