Investment Offering Offering Memorandum presented by Logan DeVries, C.P.M. NAI Halford tel +1 850 433 0577 cell +1 850 501 6868 fax +1 850 433 5042 ldevries@naihalford.com 1 1
2
Disclaimer NAI Halford has been retained by the Seller as the exclusive broker for this Investment opportunity. This Offering Memorandum has been prepared by Broker for use by the principal ( Principal ) to whom Broker has provided this Offering Memorandum. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the Confidentiality Agreement furnished by Broker and executed by Principal prior to delivery of thisoffering Memorandum. Although the information contained herein is based upon sources believed to be reasonably reliable, Owner and Broker, on their own behalf, and on behalf of their respective officers, employees, shareholders, partners, directors, members and affiliates, disclaim anresponsibility or liability for inaccuracies, representations and warranties (expressed or implied) contained in, or omitted from, the Offering Memorandum or any other written or oral communication or information transmitted or made available to the recipient of this Offering Memorandum. In amplification of and without limiting the foregoing, summaries contained herein of any legal orother documents are not intended to be comprehensive statements of the terms of such documents but rather only outlines of some of the principal provisions contained therein, and no representations or warranties are made as to the completeness and/or accuracy of the projections contained herein. Prospective purchasers of the Property should make their own investigations and conclusions without reliance upon this Offering Memorandum, the information contained herein or any other written or oral communication or information transmitted or made available. Additional information and an opportunity to inspect the Property will be made available upon written request by interested and qualified prospective purchasers. Owner expressly reserves the right, exercisable in Owner s sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Owner and Broker each expressly reserves the right, exercisable in their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. Broker is not authorized to make any representations or agreements on behalf of Owner. Owner shall not have any legal commitment or obligation to any entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed, delivered and approved by Owner and the other party thereto and any conditions to Owner s obligations hereunder have been satisfied or waived. If you have no interest in theproperty at this time, return this Offering Memorandum immediately to: NAI Halford Suite 100 24 W. Chase St. Pensacola, FL 32502 tel +1 850 433 0577 fax +1 850 433 5042 www.naihalford.com 3
4
Table of Contents Section 01 Executive Summary Section 02 Property Summary Section 03 Overview Section 04 Financials 5
Executive Summary 100% Leased Investment Property Located in Pensacola, FL the subject property is a 35,430 SF (+/-) two tenant office/warehouse building situated in Marcus Pointe Commerce Park featuring clear span interior with concrete construction. It is priced below replacement cost. The Ferrypass sub market, along with the entire Northwest Florida region, is experiencing strong fundamentals with average vacancy rates in the metro area below five percent. Subject property provides investors with a unique opportunity to acquire a first class asset in an outstanding location. Rental rates are market range. The subject property is extremely well built and maintained. The 2016 NOI of $151,264.96 is indicative of the potential of the asset, as occupancy has held steady at 100%, while rental rates have held steady. The asset has been updated over time to retain it maximum value. ## Potential as an owner occupied building for roughly 50% of the overall available space should owner wish to non-renew w/tenant in 2018. 6
Investment Highlights OVERVIEW HIGHLIGHTS: 35,430 square foot, high quality, one-story manufacturing warehouse and office faciilty. Key Highlights: 1 Executive Summary First Class Facility in Like New condition Strong Tenants in place Rental rates in market line $151,264 NOI Long term tenants paying market rate Like New facility 59,197 people in a 3 mile radius Commerce Park occupants are high volume sales regional and national tenants Strong, credit worthy, long term tenants in place 7
Property Summary Overview Address 5030 Commerce Park Dr Pensacola, FL 32506 Property PID# 391S300200005002 Year Constructed 1997 Property Description The site is improved with an excellent quality, one story manufacturing warehouse and offi ce facility. The building contains 35,430 SF, divided into two tenant spaces. Unit A, located on the east side of the building is comprised of 2,766 SF of offi ce space and 14,649 SF of warehouse space. Unit B, located on the west side of the building is 3,408 SF of offi ce space and 14,607 SF warehouse space. The manufacturing spaces are open work areas with a 20 FT eave height. These areas are clear span construction, however there are seven columns spaced along the center of the warehouse areas that add support to the the steel framing along the bays. Site Description 5,100 SY of asphalt paving 82 marked parking spots with concrete car stops chain link fencing around rear of site gravel paved outside storage area wood privancy fencing 8
Property Summary Overview Address 5030 Commerce Park Dr Pensacola, FL 32506 Manufacturing Warehouse Area 4 concrete slab on grade foundation Pre-engineered steel frame, bay spacing to be 27 6 with center column supports Exterior walls- concrete panels Roof- 24 gauge galvalume, standing seam panels, 20 FT eave height Ceiling- 6 vinyl-backed fiberglass insulation Electrical- 800 AMP 3 Phase Lighting- 1000W Hi Bay Metal halide Plumbing- Two RR with handicap toilet and sinks, fiberglas shower units and floor drains Heating and Cooling- Space Heat (Ten 250,000 BTU Gas Heaters) Gutters and Downspouts Dock High loading with 5 FT wide canopy and ramp 50 x 175 Concrete pad at loading area Seven 12x12 overhead garage doors Fire Sprinkler (wet system) Office/Sales Area 4 Slab foundation Exterior walls synthetic stucco Roof- painted metal panels over 5/8 CDX plywood with 15lb moisture barrier Commercial grade fl ooring Solid core birch doors kitchen/ breakroom with cabinetry 9
Location Overview Marcus Pointe Location Overview The subject property is located within Marcus Pointe Commerce Park. The commerce park was developed in 1992 by Escambia County to attract businesses that would provide jobs for the community. The subject land was acquired in November of 1996. Marcus Pointe lies 0.5 miles west of W Street and approximately one mile west of Pensacola Blvd (US 29) and Car City. This is approximately two miles southwest of I-10 and about six miles northwest of downtown Pensacola. The west portion of Marcus Pointe is developed as an upscale single family residential subdivision centered around a golf course and country club. The eastern most portion is developed as a business and light industrial park, Marcus Pointe Commerce Park. The park is one of the most attractive of its type in Pensacola. Although metal buildings are allowed, construction includes brick and other better quality materials. 10
Location Overview Marcus Pointe Property Overview The subject building was built in 1997 and was owner occupied until April of 2014, at which time the building was reconfi gured into a two tenant building at an approximated cost of $171,000. The east side of the building was leased in April of 2004 to a national wholesale distributor who is still occupying the space. The west side of the building is leased to long term local, high volume sales window/door company. 11
2 Property Summary Building Amenities Quality, one story manufacturing warehouse and offi ce facility 35,430 SF divided into two tenant spaces Manufacturing spaces are open work areas (warehouse type) 20 FT eave height Clear Span Construction Manufacturing areas are accessed by seven 12x12 overhead garage doors, four in Unit A and three in Unit B. Building is on grade concrete slab construction Truck Wells are dug out at the rear to provide dock high loading 12
13
2 Property Summary Property Aerials & Map 14
2 Property Summary 15
Financials Investment Opportunity The Asset Fully leased 35,430 SF Industrial/Office Facility on NNN Leases PGI $172,899.96 Combined Annual Vacancy $8,645.00 5% EGI $164,254.96 Prop. Ins (LL) $7,990.00 Reserves $5,000.00 N.O.I. $151,264.96 Tenant A Tenant B MonthlyRate $7,200 $7,208.33 Annual $86,400 $86,499.96 Exp 10/17/24 04/01/18 Inital Lease Term 1994 3/4/2004 Option to Renew Yes Yes For Sale $2,490,000 $70 PSF 16
NAI Halford 24 W. Chase Street Suite 100 Pensacola, FL. 3252 +1 850 433 0577 naihalford.com 17