JACKSONVILLE +/- 39,433 SF of Land Located in one of the USA s fastest growing cities Prime Location in Jacksonville, Florida OFFERING MEMORANDUM
TABLE OF CONTENTS OFFERING OVERVIEW 3 PROPERTY OVERVIEW 4 LOCATION & VISIBILITY 5 SURVEY 6 Outparcel +/- 39,433 SF ZONING USES 7-8 MARKET RESEARCH 9 GROWTH PATTERNS 10 DISCLOSURE 11 FROM WEST: Exit 351B, take right ramp for I-10 West toward Lake City; at exit 357 take ramp right and follow signs for SR-103; turn right onto SR-103 N/Lane Ave. S; arrive at SR-103/Lane Ave. S (if you reach Stuart Ave., you ve gone too far). Page 2
OFFERING OVERVIEW E X E C U T I V E S U M M A R Y Blanca Commercial Real Estate, Inc. has been appointed as the exclusive agent for the marketing and sale of the I-10 Outparcel located at Lane Avenue South, in Jacksonville, Duval County, Florida, 32254 ( Property ). LOCATION AND VISIBILITY +/- 39,433 SF outparcel located less than 500 feet from Hwy. I-10 & 1 mile from Hwy. I-295 Great development opportunity with potential for prominent signage exposure on I-10 Daily traffic count of +/-100,000 cars along I-10 +/- 20,000 cars along Lane Avenue South 4 Hotels are within ¼ mile with another 2 Hotels 1 mile away, providing a solid target audience for a user that services guests at these +/- 800 Hotel Rooms (plus the local population). OTHER BENEFITS Broad zoning classification of CCG-1 has wide range of permitted uses (see list on pages 7 & 8 ) Due to a cross access and cross parking agreement with the adjacent hotel, the property benefits from significant site planning flexibility 60 ft. permitted height with minimal restrictions on lot coverage City of Jacksonville s recently noted achievements in population expansion and strong business growth are vital demographics for real estate investment RETAIL SUBMARKET 44 % of Northwest Jacksonville Retail SF is freestanding single tenant property No Retail projects at all are currently under construction in Northwest Jacksonville Less than 18,000 SF of new free standing single tenant Retail has been delivered in Northwest Jacksonville since Q-4 2013 property inquiries and tours Inquiries and tour request should be directed to the following: Cary Cohen, Executive Vice President 305.377.6590 Cary.Cohen@blancacre.com Page 3
PROPERTY OVERVIEW P R O P E R T Y D E T A I L S SALE PRICE: $ 416,215 ( $10.55 per Land SF ) PROPERTY TYPE: Vacant Land STUART AVE PARCEL ID: 007445-0000 LOCATION: Lane Ave. South (outparcel) Jacksonville, FL 32254 DIMENSIONS: Length 150 feet x Width 272 feet (with frontage on Lane Ave. South) LAND AREA: ± 0.91 acres ( ± 39,433 SF ) 2015 TAXES: $ 3,718 SUB-MARKET: Northwest Jacksonville ZONING TYPE: MAXIMUM HEIGHT: CCG-1 Commercial Community General (see Permitted Uses) 60 Feet Page 4
LOCATION & VISIBILITY A E R I A L JACKSONVILLE CITY OF THE FUTURE 4 Hotels are within ¼ mile with another 2 Hotels 1 mile away, providing a solid target audience for a user that services guests at these +/- 800 Hotel Rooms (plus the local population). LANE AVENUE STUART AVENUE HOTELS Stars Rest Inn Knights Inn Budget Inn Diamond Inn Quality Inn Comfort Suites DINING 1 Mile: McDonalds, Burger King, Golden Corral, Applebee s, Donut King 2 Miles: Wendy s, Dunkin Donuts, Krispy Kreme, Waffle House, Taco Bell Page 5
LOCATION & VISIBILITY S U R V E Y ATLANTIC OCEAN BAL HARBOUR INTRACOASTAL WATERWAY Page 6
Z O N I N G U S E S C O M M E R C I A L C O M M U N I T Y / G E N E R A L - 1 ( C C G - 1 ) D I S T R I C T P E R M I T T E D USES AND S T R U C T U R E S ATLANTIC OCEAN BAL HARBOUR 1) Commercial retail sales and service establishments 2) Banks, including drive-thru tellers, savings and loan institutions, and similar uses. 3) Professional and business offices, buildings trades contractors that do not require outside storage or the use of heavy machinery, ditching machines, tractors, bulldozers or other heavy construction equipment and similar uses. 4) Hotels and motels. 5) Commercial indoor recreational or entertainment facilities such as bowling alleys, swimming pools, indoor skating rinks, movie theaters, and indoor facilities operated by a licensed pari-mutuel permit holder. 6) Art galleries, museums, community centers, dance, art or music studios. 7) Vocational, trade or business schools and similar uses. 8) Day care centers or care centers meeting the performance standards and development criteria set forth in Part 4. 9) Off-street commercial parking lots meeting the performance standards and criteria set forth in Part 4. 10) Adult Congregate Living Facility (but not group care homes or residential treatment facilities). 11) An establishment or facility which includes the retail sale and service of beer or wine for off-premises consumption or for on-premises conjunction with a restaurant. 12) Retail plant nurseries including outside display, but not on-site mulching or landscape contractors requiring heavy equipment or vehicles in excess of one-ton capacity. 13) Express or parcel delivery offices and similar uses (but not freight or truck terminals) 14) Veterinarians and animal boarding, subject to performance standards and development criteria set forth in Part 4. INTRACOASTAL WATERWAY 15) Personal property storage establishments meeting the performance development criteria set forth in Part 4. 16) Retail outlets for the sale of used wearing apparel, toys, books, luggage, jewelry, cameras, sporting goods, home furnishings and appliances, furniture and similar uses. 17) Essential services, including water, sewer, gas, telephone, radio, television and electric, meeting the performance standards and development criteria set forth in Part 4. 18) Churches, including a rectory or similar use. 19) Outside retail sales of holiday items, subject to performance standards and development criteria set forth in Part 4. 20) Wholesaling or distributorship businesses located within a retail shopping center (but not on an out-parcel or within a stand-alone structure), provided such use is limited to 30 percent of the total gross square footage of the retail shopping center of which the wholesaling use or activity is a part, and further provided there is no warehousing or storage of products not directly associated with the wholesaling or distributorship businesses located on the premises. 21) Assembly of components and light manufacturing when in conjunction with a retail sales or service establishment, conducted without outside storage or display. 22) Filling or gas stations meeting the performance standards and development criteria set forth in Part 4. 23) Dancing entertainment establishments not serving alcohol. This provision shall not supersede any other approvals or requirements for such use found elsewhere in this Chapter or elsewhere in the Ordinance Code. Page 7
ZONING C O M M E R C I A L C O M M U N I T Y / G E N E R A L - 1 ( C C G - 1 ) D I S T R I C T P E R M I T T E D USES BY E X C E P T I O N ATLANTIC OCEAN BAL HARBOUR 1. An establishment or facility which includes the retail sale and service of all alcoholic beverages including liquor, beer or wine for on-premises consumption or off-premises consumption or both. 2. Permanent/ restricted outside sale & service, meeting performance standards & development criteria in Part 4. 3. Residential treatment facilities and emergency shelters. 4. Multi-family residential integrated with a permitted use. 5. Crematories. 6. Service garages for minor or major repairs 7. Car wash or auto laundry 8. Pawn shops (limited to items permitted in the CCG-1 Zoning District). 9. Recycling collection points meeting the performance standards and development criteria set forth in Part 4. 10. Retail sales of new or used automobiles 11. Blood donor stations, plasma centers and similar uses. 12. Private clubs. 13. Restaurants with the outside sale & service of food meeting the performance standards & development criteria in Part 4. INTRACOASTAL WATERWAY 14. Billiard parlors. 15. Service and repair of general appliances and small engines. 16. Schools meeting the performance standards and development criteria set forth in Part 4. 17. Dancing entertainment establishments serving alcohol. This provision shall not supersede any other approvals or requirements for such use found elsewhere in this Chapter or elsewhere in the Ordinance Code. 18. Nightclubs. 19. Sale, service and display, preparation and storage shall be conducted within a completely enclosed building, unless otherwise provided for, and no more than 30 percent of the floor space shall be devoted to storage. M I N I M U M & M A X I M U M R E Q U I R E M E N T Width & Area of Lot : Lot Coverage by By Buildings : Front & Side Yards: Setbacks : Maximum Height of Structures : None, except as otherwise required for certain uses. None, except as otherwise required for certain uses. None. Rear of 10 feet. Where the lot is adjacent to a residential district, a minimum setback of 15 feet shall be provided. 60 feet Page 8
MARKET RESEARCH, F L C O M M E R C I A L R E A L E S T A T E M A R K E T ( R E T A I L ) ATLANTIC OCEAN BAL HARBOUR SUBMARKET: MOST LIKELY RETAIL TYPE: Northwest Jacksonville Freestanding Single Tenant Retail Building INTRACOASTAL WATERWAY ALL JACKSONVILLE RETAIL TYPES JACKSONVILLE SINGLE TENANT FREESTANDING RETAIL NORTHWEST JACKSONVILLE SUB- MARKET SINGLE TENANT FREESTANDING RETAIL VACANCY RATES 6.5% 3.2% 2.0% UNDER CONSTRUCTION 431,485 SF 159,841 SF 0 SF Page 9
MARKET RESEARCH P O I S E D F O R G R O W T H TECH- S T E M G R O W T H I N D E X R A N K S # 9 US CITIES CREATING THE MOST JOBS IN THE TECH SECTOR ATLANTIC OCEAN Jacksonville, FL is the nation's BAL 12th HARBOUR most populous city. INTRACOASTAL WATERWAY Now at more than 850,000 residents, Jacksonville recorded the biggest population gain of any Florida city in 2015, according to the US Census Bureau. In 2013, Jacksonville was named # 3 in Forbes Magazine's list of "10 Cities Winning the Battle for America's Biggest Growth Sector ". Criteria included: employment %; job growth; industry diversity; cost of living; education level. In 2015, Jacksonville was named #14 in the Praxis Strategy Group "Cities of the Future" ranking. Data points that were analyzed included: job growth; education level; population growth; rate of family formation; attractiveness to immigrants. Well established patterns of job creation and vital demographics were given top priority. Page 10
DISCLOSURE THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your own limited use in considering whether to pursue negotiations to acquire the Outparcel at Lane Avenue South and Interstate - 10, FL 32254 (the property "or building ) located in Jacksonville, FL. This confidential memorandum, which contains brief, selected information pertaining to the business and affairs of the Property, has been prepared by Blanca Commercial Real Estate ( BCRE ). This confidential memorandum does not purport to be all-inclusive or to contain all the information which a prospective purchaser may desire. Neither Seller nor Blanca Commercial Real Estate nor any of their officers, employees or agents make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. If you do not wish to pursue negotiations leading to this acquisition, or if in the future you discontinue such negotiations, you agree to return this confidential memorandum to BCRE. THIS CONFIDENTIAL MEMORANDUM SHALL NOT BE DEEMED A REPRESENTATION OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OF PREPARATION OF THIS MEMORANDUM. Blanca Commercial Real Estate ( BROKER ) MAKES THE DISCLOSURE THAT ITS ROLE IS EXCLUSIVELY REPRESENTING THE SELLER, NOT THE BUYER. THIS PROPERTY IS BEING SOLD AS AN AS IS, WHERE IS SALE. By receipt of this confidential memorandum, you agree that the memorandum and its contents are confidential, that you will hold and treat it in the strictest of confidence, that you will not, directly or indirectly, disclose or permit anyone else to disclose this memorandum or its contents to any other person, firm or entity without prior written authorization of Seller, and that you will not use or permit to be used this memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Photocopying or other duplication is strictly prohibited. THE SELLER EXPRESSLY RESERVES THE RIGHT AT ITS SOLE DISCRETION TO REJECT ANY OR ALL PROPOSALS OR EXPRESSIONS OF INTEREST IN THE PROPERTY AND TO TERMINATE DISCUSSIONS WITH ANY PARTY AT ANY TIME WITH OR WITHOUT NOTICE. The vision for an aquarium in downtown Jacksonville Page 11
BLANCA COMMERCIAL REAL ESTATE investment contact: CARY COHEN 1450 BRICKELL AVENUE, Suite 2060 MIAMI, FL 33131 305.377.6590 Cary.Cohen@blancacre.com BLANCA COMMERCIAL REAL ESTATE 1450 BRICKELL AVENUE, Suite 2060 MIAMI, FL 33131 305.577.8850 LICENSED REAL ESTATE BROKER