NAPLES. FL NEWLY BUILT, HIGH CREDIT NEIGHBORHOOD CENTER WITHIN FAST GROWING AND AFFLUENT NAPLES, FL MARKET OFFERING SUMMARY
Holliday Fenoglio Fowler, L.P. ( HFF ) is pleased to present the opportunity to acquire Stock Plaza a newly built, 65,297 SF neighborhood center in the fast growing and affluent city of Naples, FL. Stock Plaza was delivered in mid-2018 by one of SW Florida s premier developers and was quickly leased to 88.7% (seller to master lease remaining vacancies up to 100% occupancy) with strong tenant interest to fully occupy any remaining vacancy. The market s reception to this new development has been equally robust as the combination of restaurant, service, specialty retail, and medical uses has been well received by both the surrounding residential and daytime employee populations. The offering represents an opportunity for an investor to acquire an institutional-quality property in a highly desirable Florida market that will require limited future capital investment while providing stable and growing cash flow from a dynamic roster comprised of investment grade, national, and successful local tenants. NAPLES. FL 2
INVESTMENT HIGHLIGHTS Newly built mixed-use property with ±17.8% NOI growth located within a fast growing and affluent neighborhood of Naples Stable income profile with 9.6 years WALT (18.5 years WALT with options) which provides consistent levered cash flow yield Over 40% of the current income is provided by investment grade or national tenants Immaculate improvements with modern retail architectural features, ample parking, gathering areas and lush landscaping Fully internet-resistant tenant roster leased to service, restaurant, and medical uses Diverse and fungible tenant roster averaging 3,000 SF and shallow bay depths Strategically situated at the signalized entrance to Lely Resort with 4,500+ units and across the street from Veronawalk (2,500+ units) Affluent Naples market and within close proximity to daytime population drivers Desirable and growing residential market surrounded by some of the area s most prestigious golf course communities 3
65,297 ±9.0 88.7% $26.22 SQUARE FEET OCCUPANCY ACRES AVG RENTAL RATE 40% INVESTMENT GRADE TENANTS ±17.8% 9.6 YRS Suite CLASSIC DR GRAND LELY DR 101 102 103 106 107 108 401 402 403 404 501 502 503 504-505 506 Tenant Name SF 101 Skillets 4,000 102 Noire the Nail Bar 1,600 103 Premier Sotheby's 4,647 106 Groves Pool Supply 1,447 107 Palumbo's Pizza 1,636 108 Saki Japanese Hibachi 1,680 201 NCH Healthcare 11,332 202 NCH Healthcare 11,895 301 Tropical Smoothie Cafe 1,800 302 Naples Oxygen 1,470 303 master lease unit 303 1,484 304 master lease unit 304 1,568 1,365 305 master lease unit 305 306 master lease unit 306 1,651 307 master lease unit 307 1,332 501 Five Guys 2,300 502 RJF Ecocleaning 1,258 503 California Closets 1,258 506 AT&T 1,508 401-402 Sherwin Williams 3,120 403-404 Heartland Dental 4,000 504-505 Massage Luxe Total 2,946 65,297 Occupied Master Leased COLLIER BLVD (30,000 VPD) 4 301 302 303 304 305 306 307 WALT 10-YEAR NOI GROWTH
Pensacola DEMOGRAPHICS WITHIN A 5-MILE RADIUS: 63,323+ $81,643+ $266,548 AVERAGE HOUSEHOLD MEDIAN HOME INCOME POPULATION $ VALUE 5-YEAR 2.2 AVG NAPLES LAKE VILLAGE CENTER Orlando Tampa POPULATION GROWTH HOUSEHOLD SIZE 9.2% Fort Myers Fort Lauderdale NAPLES RATTLESNAKE HAMMOCK RD DIU RA IL Y L EL I LD FLO WE R R D AY W 41 AN D RA W I LE IT D R E WS BLVD GR M AN FREEDOM SQUARE LVD 2,500+ Units 4,500+ Units BL VD LE LY R E SORT B 443+ Units 1-M IA S M TA ST WINDING CYPRESS 592+ Units CO LL IE R SHOPS AT EAGLE CREEK TAMIAMI CROSSING EAGLE CREEK 5 41 5 Palm Beach Miami
hfflp.com Miami Office: 1450 Brickell Ave. Suite 2950 Miami, FL 33131 T 305.448.1333 F 305.448.6767 Investment Advisors: LUIS CASTILLO Managing Director Tel 305.448.5498 lcastillo@hfflp.com ERIC WILLIAMS Director Tel 786.532.2346 ewilliams@hfflp.com DANNY FINKLE Senior Managing Director Tel 305.421.6544 dfinkle@hfflp.com MEGAN FITZPATRICK Analyst Tel 305.421.6555 mfitzpatrick@hfflp.com MASON ELIZONDO Analyst Tel 786.532.2344 melizondo@hfflp.com Capital Markets: NAT SCARMAZZI Director Tel 305.421.6545 nscarmazzi@hfflp.com Holliday Fenoglio Fowler, L.P. ( HFF ) a Florida licensed real estate broker. HFF has been engaged by the owner of the to market it for sale. Information concerning the property described 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, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change. 6 2018 Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, HFF ), HFF Securities L.P. and HFF Securities Limited (collectively, HFFS ) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.