CHICK-FIL-A GROUND LEASE2150 Bloomingdale Avenue | Valrico, Florida 33594 EXECUTIVE SUMMARY

Representative Photo

CHICK-FIL-A GROUND LEASE 2150 Bloomingdale Avenue | Valrico, Florida 33594

Investment Summary

PROPERTY ADDRESS2150 Bloomingdale Avenue Valrico, Florida 33594

PRICE $2,670,000

RENT $100,000

CAP RATE 3.75%

TENANT Chick-fil-A, Inc.

TOTAL GLA +/- 4,971 SF

LAND AREA +/- 1.17 AC

YEAR BUILT 2016

TERM 15 years

RENT COMMENCEMENTThe earlier of (a) November 17, 2016 or (b) the date Tenant opens for business

ESTIMATED EXPIRATION DATE

November 16, 2031

RENT INCREASES 10% every 5 years

RENEWAL OPTIONS Ten 5-year options

LEASE TYPE Triple-net (NNN) ground lease

Investment HighlightsBrand New Absolute NNN Corporate Ground LeaseThis brand new 15-year Chick-fil-A lease features a corporate guaranty and is absolute NNN with no Landlord responsibilities.

Strong National TenantChick-fil-A, a privately held and family owned company, is the largest quick-service chicken restaurant chain in the United States, with annual sales that exceeded $6 billion in 2015.

Significant Rent IncreasesThe lease features significant rent increases of 10% every five (5) years, including each of the ten (10) 5-year options.

Growing Retail CorridorSituated in front of Crest Pointe Town Shoppes, a 43.52 acre mixed-use develop-ment anchored by a new Walmart Supercenter, the site offers excellent visibility and frontage on highly traveled Bloomingdale Avenue. Surrounding retailers include Publix, The Fresh Market, CVS, Walgreens, Verizon, Stein Mart and Bealls, among others.

Low Tax BurdenWith no personal income taxes imposed in Florida, the state features one of the lowest tax burdens in the country.

Superior DemographicsWithin one mile of the property, the median household income is $92,277, which is 94.4% higher than the statewide average. Retail expenditures average $2,791 per household per month.

Excellent LocationLocated in the Tampa-St. Petersburg-Clearwater MSA, the area boasts a robust, diverse economy with 19 corporate headquarters, eight of which are Fortune 1000 companies. MacDill Air Force Base contributes $5 billion annually to the greater Tampa Bay economy.

Impressive Tourism DollarsIn 2014, 20.8 million visitors spent $35 billion in Hillsborough County and generated almost $330 million in state and local tax revenues.

Highly Trafficked Intersection Bloomingdale Avenue - 26,000 ADT Lithia Pinecrest Road - 19,000 ADT

INVESTMENT HIGHLIGHTS

Densely Populated Location(5-Mile Radius)

ESTIMATED POPULATION 173,415

ESTIMATED HOUSEHOLDS 64,361

AVERAGE HOUSEHOLD INCOME $83,653

NUMBER OF BUSINESSES 5,591

NUMBER OF EMPLOYEES 46,734

TOTAL RETAIL EXPENDITURES $1.81 B CASTO | REDSTONE | 2

CHICK-FIL-A GROUND LEASE 2150 Bloomingdale Avenue | Valrico, Florida 33594 SITE PLAN

AVAILABLE +/- 2.89 AC

+/- 154,718 SF

BLOOMINGDALE AVE

SUBJECTAVAILABLE

0.69 AC

CASTO | REDSTONE | 3

CHICK-FIL-A GROUND LEASE 2150 Bloomingdale Avenue | Valrico, Florida 33594

E LUMSDEN RD

BROOKER RDLITHIA PINECREST RD

DURANT RD

S MILLE

R R

D

BE

LL SHO

ALS R

D

JOH

N M

OO

RE

RD

S KIN

GS A

VE

BUCKHORN SPRINGS GOLF & COUNTRY CLUB

JC HANDLY SPORTS COMPLEX

26,000 ADT

19,000 ADT

BLOOMINGDALE HIGH SCHOOL

E BLOOMINGDALE AVE

KINGSWOOD ELEM. SCHOOL

BURNS MIDDLE SCHOOL

BROOKER ELEM. SCHOOL

BRANDON

VALRICO

BLOOMINGDALE REGIONAL PUBLIC

LIBRARY SUBJECT

AERIAL

CASTO | REDSTONE | 4

CHICK-FIL-A GROUND LEASE 2150 Bloomingdale Avenue | Valrico, Florida 33594

Population 3-Mile Radius

5-Mile Radius

2016 ESTIMATED POPULATION 71,257 173,415

2021 PROJECTED POPULATION 77,923 190,278

2010 CENSUS POPULATION 70,373 164,313

2000 CENSUS POPULATION 59,445 121,727

2016 MEDIAN AGE (YEARS) 40 38

Households

2016 ESTIMATED HOUSEHOLDS 25,505 64,361

2021 PROJECTED HOUSEHOLDS 27,115 68,639

2010 CENSUS HOUSEHOLDS 24,765 60,026

2000 CENSUS HOUSEHOLDS 20,455 44,041

Income

2016 EST. AVERAGE HOUSEHOLD INCOME

$93,763 $83,653

2016 EST. MEDIAN HOUSEHOLD INCOME

$79,731 $72,258

2016 EST. PER CAPITA INCOME $33,574 $31,072

HOUSEHOLD INCOME $75,000+ 51.6% 44.3%

MACDILL AIR FORCE BASE

$5 BILLIONECONOMIC IMPACT

60.7% $1-MILE RADIUS HOUSEHOLD INCOME$75,000+

$35 BILLIONTOURISM DOLLARS

DEMOGRAPHICS

Education 3-Mile Radius

5-Mile Radius

2016 HIGH SCHOOL GRADUATE 24.1% 25.2%

2016 SOME COLLEGE 22.5% 23.4%

2016 ASSOCIATE DEGREE ONLY 11.3% 10.5%

2016 BACHELOR DEGREE ONLY 23.3% 22.2%

2016 GRADUATE DEGREE 11.7% 10.9%

Daytime Demos

NUMBER OF BUSINESSES 1,734 5,591

TOTAL NUMBER OF EMPLOYEES 12,945 46,734

EMPLOYEE POPULATIONPER BUSINESS

7.5 to 1 8.4 to 1

RESIDENTIAL POPULATIONPER BUSINESS

41.1 to 1 31.0 to 1

ADJUSTED DAYTIME POPULATION 33,538 95,354

Consumer Expenditure

TOTAL RETAIL EXPENDITURE (2016) $779 M $1.81 B

TOTAL RETAIL EXPENDITURE(PER HOUSEHOLD PER MONTH)

$2,541 $2,344

71%1-MILE RADIUS

PROJECTED AVG. HH INCOME

INCREASEFROM 2000

CASTO | REDSTONE | 5

CHICK-FIL-A GROUND LEASE 2150 Bloomingdale Avenue | Valrico, Florida 33594

CASTO is a privately held, vertically integrated real estate services company with 90-years of experience. Our portfolio includes retail, residential, office and industrial properties located throughout the eastern United States, including more than 21,670,000 square feet of retail space in 100+ commercial properties and nearly 4,000 apartments in 14 multi-family communities.

State Street Capital Realty is a team of investment sales professionals focusing on providing white-glove service to our clients. A division of CASTO, State Street Capital Realty has the market access, tenant knowledge and strong industry relationships to execute at the highest levels. Committed to excellence, we expertly leverage our extensive port-folio experience to maximize value for our corporate and investment clients’ real estate holdings.

Redstone Commercial is a fully integrated commer-cial real estate services company doing business in 14 states with a client portfolio that exceeds 5,000,000 square feet, with 1,430,000 square feet in Florida. Redstone Commercial has been in business for over 25 years with a lineage that dates back to 1955. Redstone has offices in Tampa, Florida and Youngstown, Ohio. Our core competency is built on achieving valued solutions for our diverse client base.

We take a holistic view of our client’s portfolio and implement a strategic system that best aligns with their goals. We focus on what makes your business tick and how we can add value based on what’s important to you. Our outlook on real estate, whether it is our own or if we are working on behalf of a third party, is simple. Every property is different and we pay attention to the important details and story behind every one of them to create a customized approach.

Inspired ideas. Integrated real estate solutions.

Acquisitions & DispositionsStephanie P. May BeaumierPHONE 614.744.3404FAX 614.229.4386smay@castoinfo.com

William Wamble OFFICE 813.254.6200CELL 850.699.4777FAX 813.254.6225 wwamble@redstonecommercial.com

Redstone Commercial1501 W. Cleveland Street Suite 200Tampa, Florida 33606www.redstonecommercial.com

CASTO250 Civic Center DriveSuite 500Columbus, Ohio 43215

PHONE 614.228.5331TOLL-FREE 1.888.400.0878FAX 614.469.8224 www.castoinfo.com

BROKERAGE PROFILES

CASTO | REDSTONE | 6