FOR SALE LAND 4.86 ACRES DEVELOPMENT LAND OFF I-95 AT NEW LONDON MALL 389 North Frontage Road New London, CT 06320 PRESENTED BY: LAURI EVERY Managing Director 860.559.6802 everyl@svn.com CT #REB0750970 BRIAN HELLER Vice President 310.500.1234 brian.heller@svn.com BRE #01878987 PROPERTY HIGHLIGHTS 4.86 Acre Development Site Adjacent to New London Mall with Numerous National Credit Tenants Zoned C-2 Freeway Visibility
DISCLAIMER The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.
EXECUTIVE SUMMARY Executive Summary SALE OVERVIEWVIEW SALE PRICE: $3,950,000 LOT SIZE: APN #: 4.86 Acres A0015700 ZONING: C-2 MARKET: CROSS STREETS: New London I95 & US1 PROPERTY DESCRIPTION This prime Development Site located in New London, Connecticut is comprised of 4.86 acres of Land that is Zoned C-2. The property site is primarily dirt however there is currently a vacant 8,181 SF building built in 1994 which formerly housed a Chuck E Cheese Restaurant. The property benefits greatly from its prime location right next to the New London Mall on North Frontage Road. The New London Mall is a 259,600 SF shopping center located on 23+ acres features national credit anchor tenants including Shop Rite, Home Goods, Marshalls, PetSmart, AC Moore, Guitar Center and a Chili s Restaurant providing a diverse merchandise mix. LOCATION OVERVIEWVIEW The Development Site is located directly off I-95, exit 82-A, in New London, CT and is directly adjacent to the popular New London Mall. The property benefits from its Freeway Visibility and strong traffic count of over 63,500 Vehicles Per Day. Further nearby employers, General Dynamics and the Groton Submarine Base provide strong, stable area employment. The city is also home to Connecticut College, Mitchell College, the United States Coast Guard Academy, and The Williams School. New London is a seaport city and a port of entry on the northeast coast of the United States. It is located at the mouth of the Thames River in New London County, southeastern Connecticut. New London is located about 107 miles from Boston, Massachusetts, 56 miles from Providence, Rhode Island, 85 miles from New Bedford, Massachusetts, and about 128 miles from New York City. Easy access, prominent visibility, and more than 85,000 people within a five mile radius of the property combine to make this development site and the New London Mall a dominant destination shopping location within the vibrant market. 3
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LOCATION MAPS Location Maps 6
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1 ZONING INFORMATION
SECTION 1 ZONING INFORMATION Demographics Report 1 MILE 5 MILES 10 MILES Total households 2,430 34,658 68,373 Total persons per hh 2.9 2.6 2.6 Average hh income $53,375 $68,014 $77,020 Average house value $328,909 $326,275 $326,433 1 MILE 5 MILES 10 MILES Total population 7,097 91,787 179,726 Median age 30.8 35.2 38.2 Median age (male) 30.8 35.3 37.8 Median age (female) 30.5 35.5 38.8 * Demographic data derived from 2010 US Census 16
SECTION 1 ZONING INFORMATION POPULATION 1 MILE 5 MILES 10 MILES TOTAL POPULATION 7,097 91,787 179,726 MEDIAN AGE 30.8 35.2 38.2 MEDIAN AGE (MALE) 30.8 35.3 37.8 MEDIAN AGE (FEMALE) 30.5 35.5 38.8 HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES TOTAL HOUSEHOLDS 2,430 34,658 68,373 # OF PERSONS PER HH 2.9 2.6 2.6 AVERAGE HH INCOME $53,375 $68,014 $77,020 AVERAGE HOUSE VALUE $328,909 $326,275 $326,433 * Demographic data derived from 2010 US Census 17
SECTION 1 ZONING INFORMATION Lauri Every Lauri Every Managing Director SVN Every & Associates, LLC Lauri A. Every serves as a Senior Advisor for Sperry Van Ness, specializing in the sale of industrial, multi-family, retail, and special purpose properties in Connecticut. With more than 20 years of experience real estate management, acquisition, finance, disposition and commercial brokerage, Every has secured over 150 transactions valued at $200 million. Prior to joining Sperry Van Ness, Every served as President of Every & Every Inc. Previously, she served as Director of Retail Leasing at Creative Leasing Concepts in New York City. CT #REB0750970 She received her Juris degree from Jacob Fuchsberg Law Center, her Master's degree in Real Estate Finance & Development from New York University and her Bachelor's degree from Drew University. Phone: 860.559.6802 Cell: 860.559.6802 Email: everyl@svn.com Address: 1 Governors Row West Hartford, CT 06117 18
SECTION 1 ZONING INFORMATION Brian Heller Brian Heller Vice President SVN Rich Investment Real Estate Partners Brian Heller has spent the past 15 years bringing people together to accomplish common goals. As an expert in commercial real estate brokerage, consulting, investments, and syndication, Brian has totaled over $150 Million in transactions. Focusing on the big picture, the people behind the deals, and the most important trends, he helps his clients build long-term wealth by tapping into the full potential of their real estate opportunities. Memberships & Affiliations Community Leadership Institute Real Estate and Construction Division - The Jewish Federation The Fraternity of Phi Gamma Delta BRE #01878987 Phone: 310.500.1234 Fax: 310.979.0888 Cell: 310.927.6290 Email: brian.heller@svn.com Address: 10940 Wilshire Blvd., Suite 1600 Los Angeles, CA 90024 As Vice President for Sperry Van Ness in Los Angeles Brian has been a consistent sales transaction leader for the firm both locally and nationally, earning Achiever Awards for his exceptional performance. Brian brings a unique strategic approach to each transaction by leveraging his vast experience in negotiations, marketing, and asset management. His vision, persistence, dedication and tenacity make him a favorite among clients. Brian is also proficient in property management having spent the past 6 years as on-site manager overseeing a trophy 30 unit multi-family property on the Sunset Strip in West Hollywood. As a leading voice for real estate investment education and effective ways to grow wealth Brian has been featured in Globe St. and Real Estate Forum Magazine. In addition, he is a mentor for several junior agents, and a frequent public speaker on real estate. Brian is an extensive world traveler, avid golf and tennis enthusiast, classic rock connoisseur, foodie, and beer aficionado. He holds a Bachelor of Arts Degree in Cinema-Television Critical Studies from the University of Southern California School of Cinema-Television and is a member of the Fraternity of Phi Gamma Delta. Brian s philanthropic endeavors include being an esteemed graduate of the Community Leadership Institute and serving as an Ambassador for the Jewish Federation of Greater Los Angeles Real Estate and Construction Division. 19