GTE REAL ESTATE PORTFOLIO

Transcript

1 GTE REAL ESTATE PORTFOLIO Florida Louisiana A Cushman & Wakefield Retail Advisory Group Investment Opportunity

2 TABLE OF CONTENTS EXECUTIVE SUMMARY 3 OFFERING DEADLINE & PROCESS 4 PORTFOLIO OVERVIEW 5 PORTFOLIO LOCATION MAP 6 REAL ESTATE OVERVIEW 7

3 Executive Summary Cushman & Wakefield ( C&W ), on behalf of GTE Federal Credit Union ( GTE ), as its exclusive real estate advisor, is pleased to offer for sale the feesimple interest in the GTE Real Estate Portfolio (the Portfolio ). The Portfolio encompasses strong and irreplaceable real estate. This offering provides the rare opportunity to acquire a significant portfolio consisting of development/re-development real estate. THE REAL ESTATE The Real Estate portion of the Portfolio (the Real Estate ) consists of seven retail branches totaling approximately 119,542 square feet, two vacant land parcels in Florida and one vacant land parcel in Louisiana. GTE currently occupies one of the seven retail branches in a heavily-populated trade area in Tampa, FL. The Real Estate presents a great acquisition opportunity for redevelopment of existing branches and development of vacant land. GTE Financial Portfolio 3

4 Executive Summary OFFERING DEADLINE & PROCESS Property tours require 48-hours prior notice The prospective purchaser will be selected by the Owner in consultation with Cushman & Wakefield Written notification will be sent regarding the bid date. Initial bids must be submitted to the attention of Jason Donald at Cushman & Wakefield. The Owner reserves the right to accept an offer prior to this date or to remove the Portfolio from the market at any time Properties can be purchased individually or as a portfolio QUESTIONS REGARDING THE OFFERING SHOULD BE DIRECTED TO: Jason Donald Patrick Berman Todd Tolbert jason.donald@cushwake.com patrick.berman@cushwake.com todd.tolbert@cushwake.com (813) (813) (813) FOR FINANCING ASSISTANCE, PLEASE CONTACT: Steve Aiken steve.aiken@cushwake.com (813) GTE Financial Portfolio 4

5 Portfolio Overview The Portfolio totals 119,542 square feet and consists of 7 branches and 3.5 acres of vacant land located in Florida and Louisiana. # ADDRESS LEASE TERM SF ACRES PRICE NOI RENT PER SF CAP RATE N Belcher Rd Clearwater FL Branch 4, Acres $1,040,000 N/A N/A N/A W Lake Mary Blvd Lake Mary FL Branch 3, Acres $1,490,000 N/A N/A N/A CR 105 Oxford FL Branch 3, Acres $1,580,000 N/A N/A N/A Matthew Paris Blvd Ocoee FL Branch 5, Acres $1,730,000 N/A N/A N/A S Sherwood Forest Blvd Baton Rouge LA Branch 2, Acre $650,000 N/A N/A N/A Crowder Blvd. New Orleans LA Land N/A 1.59 Acres $480,000 N/A N/A N/A Amazonas Circle Orlando FL Land N/A 0.98 Acre $740,000 N/A N/A N/A Gall Blvd. Zephyrhills FL Land N/A 0.93 Acre $930,000 N/A N/A N/A South Dale Mabry Hwy Tampa FL 33609* Branch 92,945** 1.66 Acres $7,750,000 N/A N/A N/A Blvd. W., Bradenton FL Branch 7, Acres $950,000 N/A N/A N/A TOTALS 119,542 SF Acres *Operating branch **Includes 65,128 SF parking structure GTE Financial Portfolio 5

6 Portfolio Overview PORTFOLIO LOCATION MAP REAL ESTATE # NAME 1 North Clearwater 2 Lake Mary 3 The Villages 4 Ocoee 5 Baton Rouge 6 New Orleans* 7 Orlando* 8 Zephyrhills* 9 South Tampa 10 Bradenton *Vacant Land GTE Financial Portfolio 6

7 Real Estate 1756 N. Belcher Rd., Clearwater, FL W. Lake Mary Blvd., Lake Mary, FL ,973 SF 3,440 SF 0.69 Acres 2.63 Acres YEAR BUILT: 2005 YEAR BUILT: 2004 IRT (City of Clearwater) C-1 (City of Lake Mary) PURCHASE PRICE: $1,040,000 PURCHASE PRICE: $1,490,000 Located just south of Sunset Point Rd. (32,000 VPD) Excellent visibility & access 121,683 people within a 3-mile radius Traffic Count: 27,500 VPD on Lake Mary Blvd. Located in close proximity to I-4, Target and Home Depot 67,186 people within a 3-mile radius GTE Financial Portfolio 7

8 Real Estate County Road 105, Oxford, FL Matthew Paris Blvd., Ocoee, FL ,632 SF 5,105 SF 2.00 Acres 1.56 Acres YEAR BUILT: 2008 YEAR BUILT: 2008 CN (City of Oxford) C-2 (Orange County) PURCHASE PRICE: $1,580,000 PURCHASE PRICE: $1,730,000 Adjacent to Walmart Supercenter Located just north of County Road 466 (14,300 VPD) 28,526 people within a 3-mile radius Adjacent to West Oaks Mall Traffic Count: 22,000 VPD on Matthew Paris Blvd feet of frontage 85,640 people within a 3-mile radius GTE Financial Portfolio 8

9 Blvd Real Estate 5711 S. Sherwood Forest Blvd., Baton Rouge, LA Crowder Blvd., New Orleans, LA ,400 SF LAND SF: 69,348 SF 0.43 Acres 1.59 Acres YEAR BUILT: 1992 C-1 (City of New Orleans) C-1 (East Baton Rouge County) PURCHASE PRICE: $480,000 PURCHASE PRICE: $650,000 Retail exposure in Sherwood Forest Office Park Located just north of Airline Highway (54,000 VPD) Right-in, right-out and shared left-in access 72,973 people within a 3-mile radius Across the street from Family Dollar & Dollar General Traffic Count: 14,800 VPD on Crowder Blvd. Right-in, right-out and left-in access 60,595 people within a 3-mile radius Lake Forest Blvd Crowder S I T E GTE Financial Portfolio 9

10 Real Estate 2630 Amazonas Circle, Orlando, FL Gall Blvd., Zephyrhills, FL LAND SF: 42,733 SF LAND SF: 40,625 SF 0.98 Acres 0.93 Acres P-D (Orange County) MPUD (Pasco County) PURCHASE PRICE: $740,000 PURCHASE PRICE: $930,000 Across the street from Freedom High School & Middle School Located just east of John Young Pky. (76,000 VPD) 200+ feet of frontage on Taft Vineland Road (14,800 VPD) 45,106 people within a 3-mile radius Outparcel to Zephyr Commons: 114,000-sf Publix-anchored shopping center Traffic Count: 23,000 VPD on Gall Blvd. Multiple points of access on Gall Blvd. and Kossik Rd. 32,423 people within a 3-mile radius Kossik Road S I T E John Young Parkway S I T E Taft Vineland Road Freedom Middle School Freedom High School Gall Blvd 301 GTE Financial Portfolio 10

11 711 S. Dale Mabry Hwy., Tampa, FL Real Estate Blvd. W., Bradenton, FL ,000 SF 7,047 SF 1.66 Acres 2.24 Acres YEAR BUILT: YEAR BUILT: 1978 PD (Hillsborough County) GC (Manatee County) PURCHASE PRICE: $7,750,000 PURCHASE PRICE: $950,000 Existing 3-story office building & parking garage (165 spaces) Traffic Count: 41,000 VPD on S. Dale Mabry Hwy feet of frontage Right-in, right-out and left-in access 94,968 people within a 3-mile radius Adjacent to DeSoto Square Mall Traffic Count: 13,900 VPD on 301 Blvd. W feet of frontage Right-in, right-out and shared left-in access Shared access point with DeSoto Square Mall 122,760 people within a 3-mile radius GTE Financial Portfolio 11

12 FOR ADDITIONAL INFORMATION Jason Donald Patrick Berman Todd Tolbert FOR ACQUISITION FINANCING Steve Aiken cushmanwakefield.com