OFFERING MEMORANDUM Capital Markets | Net Lease Properties · BUILDING SIZE: 6,119± SF LAND SIZE: 2.43± acres PARKING SPACES: 48 spaces (7.84/1,000 SF) YEAR BUILT: 2017 CBRE is

TYRONE BOULEVARD & 9TH AVENUE NORTH, ST. PETERSBURG, FL

OFFERING MEMORANDUM Capital Markets | Net Lease Properties

REPRESENTATIVE PHOTO

MARK DRAZEKSenior Vice President Capital MarketsNet Lease Properties

RAY ROMANOFirst Vice President Capital MarketsNet Lease Properties

+1 407 404 [email protected]

CBRE, Inc. Licensed Real Estate Broker

EXCLUSIVELY MARKETED BY:

© 2017 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.CBRE, and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

Tyrone Gardens

9th Ave N. (9,000 AADT)

Tyrone Blvd (27,697 AADT)

5th Ave N.

66th St N.

Shoppes at the Royale

Crosswinds S.C.

Tyrone Square

N

St. Petersburg Catholic High School

(19,000 AA

DT)

BANK

Crossroads S.C.


1INVESTMENT SUMMARY

Investment HighlightsProperty Description

N


(19,000 AA

DT)

58th St N.

2PROPERTY DESCRIPTION

Property PhotosAerial Photos

Site Plan

8AREA OVERVIEW

Market OverviewLocal & Regional Maps

Drive=Time Map

Tenant Description

14TENANT SUMMARY


BANK

N



1

WAWA | ST. PETERSBURG

investment highlights• Brand new 20 year ground lease

• Investment grade credit – Shadow rating: BBB

• 8% rental rate increases every 5 years (starting at year 6) throughout the entire lease and renewal options

• No landlord management obligations

• Signalized intersection

• Densely populated area, over 117,500 people within 3-miles

• Large efficient parcel

• No debt to assume – Able to pay all cash

• Florida has no state income tax

INVESTMENT SUMMARY

investment summary

PRICE: $5,543,500

ANNUAL RENT: $255,000

CAP RATE: 4.6%

TENANT: Wawa Florida, LLC

GUARANTOR: Wawa, Inc.

RENTAL INCREASES: 8% every 5 years including options

INITIAL LEASE TERM: 20 years

OPTIONS: (6) 5-year options

RENT COMMENCEMENT: November 16, 2017

LANDLORD OBLIGATIONS: None – Absolute NNN ground lease

EXISTING FINANCING: No debt to assume

BUILDING SIZE: 6,119± SF

LAND SIZE: 2.43± acres

PARKING SPACES: 48 spaces (7.84/1,000 SF)

YEAR BUILT: 2017

CBRE is pleased to present this brand new 20 year absolute NNN Wawa ground lease located in St. Petersburg, FL. The brand new 6,119 SF building is located on

2.43 acres in a densely populated area of the Tampa metro area. The lease is absolute NNN with no landlord management obligations and offers higher than normal fixed rental increases. This store opened on November 16th, 2017. Wawa is a highly sought after investment grade national tenant ranked #34 in Forbes top private companies with $9B in revenue. REPRESENTATIVE PHOTO

2PROPERTY DESCRIPTION

property descriptionLOCATION

9th Avenue North & Tyrone Boulevard St. Petersburg, FL 33710

BUILDING AREA

The subject consists of one (1) retail building totaling approximately 6,119 SF of net rentable area.

TRAFFIC COUNTS

Tyrone Blvd North (north of 9th) 27,697 AADT

Tyrone Blvd North (south of 9th) 19,000 AADT

9th Ave North 9,000 AADT

66th Street North (north of 9th Ave) 41,000 AADT

58th Street North (north of 9th Ave) 10,963 AADT

58th Street North (south of 9th Ave) 19,266 AADT

SITE

The subject is located at the signalized corner of 9th Avenue North & Tyrone Boulevard in St. Petersburg, Florida.

LAND AREA

The Property consists of one (1) parcel totaling approximately 2.43 acres or 105,850.8 SF of land area.

PARKING

The Property provides 48 parking stalls which equates to 7.84:1,000 SF parking ratio.


3


Shoppes at the Royale


St. Petersburg Catholic High School

66th St N.

Crosswinds S.C.

Crossroads S.C.

N

Treasure Island

(9,000 AA

DT)

(19,000 AADT)

9th Ave N

.

BANK

Tyrone Square

4

WAWA | ST. PETERSBURGN


58th St N

.

Boca Ciega High School

Pasadena Golf & Yacht Club

St. Petersburg Beach


BANK

5

WAWA | ST. PETERSBURG N

9th Ave N. (9,000 A

ADT)

(19,000 AADT)

58th St N.

Downtown St. Petersburg

Tropicana Field


BANK

6


N

9th Ave N.


58th St N.

66th St N.

Crossroads S.C.

JW Cate Recreation Center

BANK

7


SITE PLAN

25'R

15'R

30'R

35'R

5'R

15'R

25'R

20'R

20'R

10'R10'R

15'R

15'R

15'R

15'R15'R

50'R

35'R

35'R

25'R

35'R

35'R

25'R

SP0

C-4

SITE LAYOUTPLAN

3820 NORTHDALE BLVD., SUITE 300BTAMPA, FLORIDA 33624

Phone: (813) 812-4100Fax: (813) 812-4101

FLORIDA BUSINESS CERT. OF AUTH. No. 30780

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REVISIONS

REV DATE COMMENT BY

LOCATION OF SITE

FOR

PROJECT No.:DRAWN BY:CHECKED BY:DATE:SCALE:CAD I.D.:

SHEET NUMBER:

SHEET TITLE:

PROJECT:

FLT150201JRTJSR

02/01/16AS NOTED

SITECONSTRUCTION

PLANS

TYRONE &9TH, LLC

5901 9TH AVENUE N ST PETERSBURG, FL 33710

PINELLAS COUNTY

03/23/16 JSRPER FDOT COMMENTS

07/19/16 ASZPER FDOT, SWFWMD,&CITY OF ST.PETE CMTS

09/16/16 PMPPER SWFWMD &CITY OF ST. PETE CMTS

10/11/16 PMPPER FDOTNOI COMMENTS

10/19/16 PMPPER CITY COMMENTS

11/02/16 ASZSTORM CLEAN OUTUPDATE

02/17/17 ASZPER CROSS ACCESSAGREEMENT

03/28/17 ASZFIELD REVISIONS TOGRAD.& DRAIN. CONN.

It's fast. It's free. It's the law.

www.callsunshine.com

STATE OF

No. 64211

PERMIT SET

1"= 30'

0 307.51530

SITE DATA TABLE

PARCELL ID/FOLIO NUMBER 17-31-16-00000-410-0200

SITE ADDRESS 5901 9TH AVE NORTH

ST PETERSBURG, FLORIDA 33701-6227

PROPOSED DEVELOPMENT SITE AREA 104,235 S.F. (2.39 ACRES)

EXISTING BUILDING AREA 20,475 S.F. (0.47 AC) (19.64%)

EXISTING VUA 33,180 S.F. (0.76 AC) (31.83%)

EXISTING GREEN SPACE 14,280 S.F. (0.33 AC) (13.70%)

EXISTING IMPERVIOUS AREA 89,955 S.F. (2.06 AC) (86.30%)

PROPOSED BUILDING AREA 6,119 S.F. (0.14 AC) (5.87%)

PROPOSED VUA 25,770 S.F. (0.59 AC) (24.72%)

PROPOSED GREEN SPACE 36,170 S.F. (0.83 AC) (34.70%)

PROPOSED IMPERVIOUS AREA 68,065 S.F. (1.56 AC) (65.30%)

REQUIRED PARKING SPACES 31 SPACES(1 SPACE PER 200 SF)

PROVIDED PARKING SPACES (10'X20') 45 SPACES

PROVIDED AIR PUMP SPACE (11'X20') 1 SPACES

PROVIDED ADA SPACES (12'X20') 2 SPACES

TOTAL SPACES PROVIDED 48 SPACES

MAXIMUM IMPERVIOUS SURFACE 85%

PROVIDED IMPERVIOUS SURFACE 65%

MAXIMUM FLOOR AREA RATIO 0.55

PROVIDED IMPERVIOUS AREA 0.006

MAXIMUM BUILDING HEIGHT 48 FT

PROVIDED BUILDING HEIGHT 35 FT

PROVIDED CANOPY HEIGHT 21.17 FT

REQUIRED BICYCLE PARKING

4 SPACES (SHORT TERM SPACES = 2 OR 1PER 5,000 SF GFA, LONG TERM = 2 OR 1

PER 12,000 SF GFA)

PROVIDED BICYCLE PARKING 5 SPACES

ZONING CCS-1

BUILDING SETBACKS

FRONT (ROW) 20'

REAR 20'

SIDE 10'

LANDSCAPE BUFFER REQUIRMENTS

FRONT 10' (ROW)

SIDE 5'

REAR 5'

PROPERTY LINE

PROP. BUILDING SETBACK LINE

PROP. LANDSCAPE BUFFER

PROP. BUILDING AND GAS CANOPY

PROP. CONCRETE SIDEWALK

PROP. 6" CONCRETE PAVEMENT

PROP. 8" CONCRETE PAVEMENT

PROP. ROCK BED

PROP. PARKING SPACE COUNT

PROP. GAS PUMPS

PROP. FUEL PRICING SIGN

PROP. VENT STACK

PROP. AIR MACHINE

PROP. EMERGENCY STOP SWITCH

PROP. UNDERGROUND STORAGE TANKS

PROP. LIGHT POLE

PROP. TRANSFORMER PAD

PROP. UTILITY POLE

EXIST. POWER POLE TO REMAINPP

LEGEND:

ADA ACCESSIBILITY NOTES:1. ALL HANDICAPPED PARKING SPACES AND ACCESS AISLES ADJACENT TO THE

HANDICAP PARKING SPACES SHALL HAVE A MAXIMUM OF 2% SLOPE IN ALLDIRECTIONS (THIS INCLUDES RUNNING SLOPE AND CROSS SLOPE).

2. AN ACCESSIBLE ROUTE FROM THE PUBLIC STREET OR SIDEWALK TO ALLBUILDING ENTRANCES MUST BE PROVIDED. THIS ACCESSIBLE ROUTE SHALLBE A MINIMUM OF 60" WIDE. THE RUNNING SLOPE OF AN ACCESSIBLE ROUTESHALL NOT EXCEED 5% AND THE CROSS SLOPE SHALL NOT EXCEED 2%.

3. SLOPES EXCEEDING 5% BUT LESS THAN 8% WILL REQUIRE A RAMP ANDMUST CONFORM TO THE REQUIREMENTS FOR RAMP DESIGN (HANDRAILS,CURBS, LANDINGS). NO RAMP SHALL EXCEED AN 8% RUNNING SLOPE OR 2%CROSS SLOPE.

4. IN THE CASE THAT A NEW SIDEWALK WILL BE CONSTRUCTED IN THE RW OF ASITE THE RUNNING SLOPE OF THE SIDEWALK SHALL NOT EXCEED 5% ANDTHE CROSS SLOPE SHALL NOT EXCEED 2%. THIS STANDARD APPLIES TOCROSS WALKS IN THE DRIVEWAY AS WELL AND WILL REQUIRE SPECIALATTENTION DURING STAKING TO MAKE SURE THE 2% CROSS SLOPE IS MET INTHE CROSS WALK.

5. IT WILL BE THE RESPONSIBILITY OF THE GENERAL CONTRACTOR TO ENSURETHAT THE HANDICAP PARKING SPACES, ACCESSIBLE ROUTES, ANDSIDEWALKS/CROSSWALKS ARE CONSTRUCTED TO MEET ADAREQUIREMENTS.

6. ANY REQUIREMENTS LISTED ABOVE THAT CAN NOT BE MET SHALL BEBROUGHT TO THE ENGINEER’S ATTENTION IMMEDIATELY. ANYTHING NOTBUILT TO THE ABOVE STANDARDS WILL REQUIRE REMOVAL ANDREPLACEMENT OF THE NON COMPLIANT AREAS AT THE GENERALCONTRACTORS COST.

1. ALL DIMENSIONS SHOWN ARE SHOWN AT FACE OF CURB, UNLESSOTHERWISE NOTED. B/C INDICATES DIMENSION IS TO BACK OF CURB.

2. ALL RADII DIMENSIONS ARE 3' TO FACE OF CURB UNLESS OTHERWISE NOTED.

3. ALL PAVEMENT MARKINGS AND SIGNAGE SHALL BE IN ACCORDANCE WITHTHE "MANUAL ON UNIFORM TRAFFIC CONTROL DEVICES FOR STREETS ANDHIGHWAYS," LATEST EDITION; AND LOCAL JURISDICTION LAND DEVELOPMENTCODE.

4. THE SHOWN HEREON APPEARS TO LIE IN FLOOD ZONE X ACCORDING TO THEFEDERAL EMERGENCY MANAGEMENT AGENCY, FLOOD INSURANCE RATEMAP, COMMUNITY NUMBER 12103C0214G, EFFECTIVE DATE SEPTEMBER 3,2003, FOR CITY OF ST. PETERSBURG, FLORIDA.

5. FREE STANDING SIGNAGE SHOWN ONLY FOR REPRESENTATIONALPURPOSES, AND SHALL BE PERMITTED SEPARATELY.

6. THE CONTRACTOR MUST PULL ADDITIONAL AND SEPARATE CITYENGINEERING ROW PERMITS FOR THE PROPOSED SITE SANITARY SEWERCONNECTION TO PUBLIC MAIN; AS WELL AS FOR DRIVEWAY, CURB ANDSIDEWALK WORK WITHIN THE CITY PUBLIC RIGHT-OF-WAY (ROW). THECONTRACTOR MUST SUBMIT 3 COPIES OF CITY APPROVED CIVIL PLANSDIRECTLY TO THE CITY ENGINEERING DEPARTMENT. ALLOW A MINIMUM OF 5BUSINESS DAYS FOR PERMIT PROCESSING AND ISSUANCE. THECONTRACTOR WILL BE REQUIRED TO PROVIDE A CERTIFICATE OFINSURANCE (PER CURRENT CITY REQUIREMENTS) AND A PERFORMANCEBOND (IN THE AMOUNT OF THE WORK {DETAILED UNIT COST ESTIMATEREQUIRED} OR $15,000 - WHICHEVER IS GREATER) PRIOR TO ROW PERMITISSUANCE. THE ROW PERMIT(S) MUST BE OBTAINED PRIOR TO INITIATINGANY WORK WITHIN THE PUBLIC ROW OR A DOUBLE PERMIT FEE WILL APPLY.PLEASE DIRECT ALL QUESTIONS TO THE ENGINEERING AND CAPITALIMPROVEMENTS DEPARTMENT (PHONE 727-893-7238 [email protected]).

SITE NOTES:

8


2016 Tampa Bay Retail Market Statistics

Total Vacancy vs. Average Direct Asking Lease Rate (NNN) Average direct asking rates reflected a $0.32 increase from second quarter and $0.27 year-over-year, closing at $14.24 per sq. ft. Saint Petersburg CBD leads with asking rates of $24.98 per sq. ft., followed by Westshore at $18.28 per sq. ft., and Sarasota at $18.10 per sq. ft. On the other hand, lower rates can be found in Hernando County with average asking rates of $10.91 per sq. ft.

The Tampa retail market closed with 240,289 sq. ft. of net absorption for the third quarter of 2016; 392,048 sq. ft. less than Q2 2016 and 445,588 sq. ft. less than Q3 2015. These drastic declines can be attributed to the increased number of move-outs. However, Vacancy continues to decline regardless of slowing leasing activity. The third quarter closed at 4.8%, a 10 basis point (bps) drop from the previous quarter and 60 bps drop year-over-year.

With more than 270 proposed retail projects, over 1 million sq. ft. of retail space under construction, and increased consumer spending, the Tampa retail market is poised for growth.

Source: CBRE Research, Q3 2016

Direct Vacancy4.8%

Lease Rate$14.24 PSF

Net Absorption240,000 SF

Under Construction1 MSF

*Arrows indicate year-over-year change

MARKETVIEW

10

11

12

13

14

15

0

2

4

6

8

10

Q4 2011 Q4 2012 Q4 2013 Q4 2014 Q4 2015 Q3 2016

Asking Rate ($/SF) Vacancy (%) Tampa Vacancy Rate Tampa Avg Direct Asking Lease Rate

Growing restaurant scene fuels rent growth

Tampa Retail, Q3 2016

© 2016 CBRE, Inc. | 1

Direct Vacancy 4.8%

*Arrows indicate change from previous year.

Lease Rate $14.24 PSF

Net Absorption 240,000 SF

Under Construction 1 MSF

Source: CBRE Research, Q3 2016.

With a growing food scene taking place all through Tampa Bay, average direct asking rates reflected a $0.32 increase from second quarter and $0.27 year-over-year, closing at $14.24 per sq. ft. Saint Petersburg CBD leads with asking rates of $24.98 per sq. ft., followed by Westshore at $18.28 per sq. ft., and Sarasota at $18.10 per sq. ft. On the other hand, lower rates can be found in Hernando County with average asking rates of $10.91 per sq. ft. The Tampa retail market closed with 240,289 sq. ft. of net absorption for the third quarter of 2016;

Figure 1: Total Vacancy –vs– Average Direct Asking Lease Rate (NNN)

Q3 2016 CBRE Research

392,048 sq. ft. less than Q2 2016 and 445,588 sq. ft. less than Q3 2015. These drastic declines can be attributed to the increased number of move-outs. However, Vacancy continues to decline regardless of slowing leasing activity. The third quarter closed at 4.8%, a 10 basis point (bps) drop from the previous quarter and 60 bps drop year-over-year. With more than 270 proposed retail projects, over 1 million sq. ft. of retail space under construction, and increased consumer spending, the Tampa retail market is poised for growth.

Submarket Total Inventory SF

Direct Vacant

(%)

Total Vacant

(%)

Q3 2016 Net Absorption

(SF)

YTD Net Absorption

(SF)

Under Construction

(SF)

Avg. Asking Lease Rate

$ (NNN)

St. Petersburg CBD 1,710,815 3.6 3.6 (6,240) (6,160) 30,000 24.98

Total Tampa Bay Market 199,455,364 4.8 5.0 240,289 1,725,632 1,014,312 14.24

Community Centers 29,644,220 6.2 6.5 (51,576) 51,958 3,500 13.39

Freestanding 57,744,186 3.1 3.4 99,364 829,720 163,608 14.11

Neighborhood and Strip Centers 52,815,150 8.1 8.6 219,152 703,757 133,767 13.44

AREA OVERVIEW

9


ST. PETERSBURGThe sun is shining for businesses in St. Petersburg. With five bustling business sectors primed for growth, the 9,463+ businesses in St. Pete are enjoying a Renaissance of economic growth and prosperity. With major initiatives underway to further improve the economic development of the region, St. Petersburg’s future is bright!

Furthermore, with its pedestrian-scale, walkable, and amenity-rich downtown, St. Petersburg is fast becoming the nexus of Tampa Bay’s entrepreneurial economy. Ranked “12th in the Nation for Small Business” in 2014 by Biz2Credit and “8th Best City for Hispanic Entrepreneurs” by WalletHub, St. Pete touts a wealth of resources and incentives for local businesses. The city has consistently been rated by KPMG as one of the easiest and most cost effective regions in the country to conduct business.

With the quality of life and resources for business growth, St. Petersburg is an ideal city for business large and small. In particular, five target industries are optimized for rapid growth in St. Petersburg. The city’s five key business sectors include: Marine and Life Sciences, Specialized Manufacturing, Financial Services, Data Analysis, and Creative Arts and Design.

Marine and Life Sciences

Located on a peninsula bordering the Gulf of Mexico and Tampa Bay, it’s no surprise that Marine and Life Sciences is a target business sector in St. Petersburg. The City’s geographic location is a clear asset that supports its strength in Marine Sciences; the city’s downtown waterfront is not only a major quality of life amenity, but also an economic driver and research site. St. Petersburg even hosts the BLUE Ocean Film Festival annually, attracting the attention of international filmmakers and scientists!

Meanwhile, the Life Sciences and Health Care Services have long been developed in St. Petersburg to serve its large population of elderly residents. The Life Sciences have a

burgeoning presence in St. Petersburg due to recent investments made by the global medical powerhouse Johns Hopkins Health Systems. St. Petersburg has a unique advantage, with major companies from both Marine and Life Sciences located downtown and throughout the city.

Some of these notable employers include:

Most recent additions to St. Pete’s Marine & Life Sciences Sector:• Shark Shield• Twinlab Consolidation Corp• BLUE Ocean Film Fest. & Conservation Summit Headquarters

Specialized manufacturing

Manufacturing is an important component of the American economy, and one that has long been a top employment sector in Pinellas County and St. Petersburg. The city’s history in Manufacturing has more recently given rise to the Specialized Manufacturing Sector, which includes the production of Electronics Components and Medical Devices. In particular, the St. Petersburg market leads the state in exports of both bare printed circuit board manufacturing and semiconductor machinery manufacturing!

distance to

14Clearwater

miles20Tampa

miles 33Sarasota

miles

96Orlando

miles

209Miami

miles

196Fort

Lauderdale

miles

• SRI International• University of South Florida College

of Marine Science• Fish and Wildlife Research Institute • National Oceanic and Atmospheric

Administration (NOAA) • National Marine Fisheries Service• Florida Institute of Oceanography• Tampa Bay Estuary Program• International Ocean Institute• United States Geological Survey

Coastal and Marine Science Center

•

• Draper Laboratory• InformedDNA• Cognitive Research Corporation• Bioplex Technologies• Dermazone Solutions• Catalent• Smith & Nephew• U.S. Coast Guard Sector St.

Petersburg• All Children’s Hospital (a member of

the Johns Hopkins Health System)• Bayfront Family Health Center• Kindred Hospital• The Children’s Research Institute

(CRI)

AREA OVERVIEW

10


Some of St. Pete’s notable manufacturing companies include:

Financial Services

St. Petersburg is a leader in financial services within the State of Florida and the region, with employment in the Financial Services sector being nearly twice as concentrated in St. Petersburg as in the average American community! In fact, this sector, which includes three niches (Securities and Asset Management, Insurance, and Customer Care Services) employs well over 14,500 among 650 businesses locally! Several major Financial Services headquarter firms are located in St. Petersburg, including Raymond James Financial, TransAmerica, FIS Management Services, and American Strategy Insurance. As such, this target sector offers high employment concentration and wages above the local average. Furthermore, the Financial Services Sector is important to St. Petersburg’s economy, creating additional jobs and wealth within the city.

Notable companies in the Financial Services Sector include:

Data Analytics

Data Analytics, or “Big Data,” is an emerging sector in St. Petersburg, which includes data analysis and capture. With a growing amount of digital information produced globally every day, firms that can make sense of these large volumes of data are becoming increasingly important in the economy. Experts in the field estimate that the global market for Big Data will grow to nearly $53 billion or more in 2017! St. Petersburg already has several top firms that specialize in working with “Big Data,” such as HSN, Valpak, TRIAD Retail Media, and Clarifire, placing the city in a position to become a Data Analytics hub in the future.

Some of St. Pete’s notable companies in the Data Analytics Sector include:

Creative Arts & Design

St. Petersburg’s Creative Arts and Design sector builds upon the city’s long history of strength in the arts. With five distinct arts districts, seven performing arts companies, 25+ top-ranked galleries, eight world-famous museums, and several theatrical and music venues, St. Petersburg is a hotbed for the arts. In fact, ArtPlace America named Downtown St. Petersburg one of America’s top ArtPlaces in 2013, and American Style Magazine has named St. Petersburg as its number one mid-size city for art for 3 years in a row! The New York Times even included the city on a list of 52 global places to go in 2014!

Beyond traditional arts, St. Petersburg is also growing in the digital and multi-media markets. Such new media, gaming, and mobile application development firms include companies such as Apan Software, RDesign, Inc., Wannemacher Jensen Architects, Inc., Mesh Architecture, and more.

Notable companies in the Creative Arts & Design Sector include:

Source: St. Petersburg Area Chamber of Commerce

• Jabil• Elreha Printed Circuits Boards • Plasma-Therm• Tricom Technology• Sensitive Technology• General Electric Medical Systems• Aurora Surgical• IcareLabs

• MTS Medication Technologies• Halkey Roberts• Agora Leather Products• General Dynamics• West Pharmaceutical• Compulink• LumaStream• Great Bay Distributors

• Raymond James Financial• TransAmerica Life Insurance• Franklin Templeton Investments• Castle Key Insurance Company &

Castle Key Indemnity Company• American Strategy Insurance

• PSCU Financial Services• FIS Management Services• iQor• GeniusCentral Systems Inc.• All Covered• MBI Worldwide

• TRIAD Retail Media• Clarifire• FairWarning• Valpak• HSN• American Express• Raymond James

• Ceridian• Catalina• Crystal Clear Technologies • GeniusCentral Systems Inc.• Triad Retail Media• Priatek• sensorFact Services Inc.

• Salvador Dali Art Museum• Chihuly Collection• Dr. Carter G. Woodson African

American Museum• Florida Holocaust Museum• Museum of Fine Arts• St. Petersburg Museum of History• Morean Arts Center• The Mahaffey Theatre

• Apan Software• RDesign, Inc.• Wannemacher Jensen Architects,

Inc.• Mesh Architecture • Priatek• Coming Soon: Museum of the

American Arts and Crafts Movement

AREA OVERVIEW

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DEMOGRAPHIC BRIEF

9TH AVE N 1 MILE 3 MILES 5 MILES

2017 Population - Current Year Estimate 13,541 117,571 266,360

2022 Population - Five Year Projection 13,988 122,014 277,222

2010 Population - Census 12,982 111,995 252,167

2000 Population - Census 13,189 115,444 259,415

2010-2017 Annual Population Growth Rate 0.58% 0.67% 0.76%

2017-2022 Annual Population Growth Rate 0.65% 0.74% 0.80%

2017 Households - Current Year Estimate 5,907 51,059 117,583

2022 Households - Five Year Projection 6,078 52,761 121,883

2010 Households - Census 5,724 49,156 112,428

2000 Households - Census 5,934 50,969 116,393

2010-2017 Annual Household Growth Rate 0.44% 0.53% 0.62%

2017-2022 Annual Household Growth Rate 0.57% 0.66% 0.72%

2017 Average Household Size 2.25 2.26 2.21

2017 Average Household Income $61,134 $61,303 $61,182

2022 Average Household Income $69,180 $69,534 $69,549

2017 Median Household Income $48,264 $43,530 $41,800

2022 Median Household Income $52,491 $48,641 $46,589

2017 Per Capita Income $27,404 $27,310 $27,897

2022 Per Capita Income $30,768 $30,729 $31,452

2017 Housing Units 6 ,617 59 ,397 143 ,430

2017 Vacant Housing Units 710 10.7% 8,338 14.0% 25,847 18.0%

2017 Occupied Housing Units 5,907 89.3% 51,059 86.0% 117,584 82.0%

2017 Owner Occupied Housing Units 4,113 62.2% 33,072 55.7% 70,736 49.3%

2017 Renter Occupied Housing Units 1,794 27.1% 17,987 30.3% 46,848 32.7%

2017 Population 25 and Over 10 ,250 88 ,297 199 ,933

HS and Associates Degrees 7,003 68.3% 56,054 63.5% 123,012 61.5%

Bachelor's Degree or Higher 2,607 25.4% 22,708 25.7% 53,399 26.7%

2017 Businesses 564 3,823 10,460

2017 Employees 6,369 38,900 118,598

©2017 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are forexample only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the propertyfor your needs. Source: Esri Page 1 ProjectID:214803

POPULAT ION

HOUSEHOLDS

HOUSEHOLD INCOME

HOUS ING UN ITS

EDUCAT ION

PLACE OF WORK

DEMOGRAPHIC BRIEF

9TH AVE N

NAME LATITUDE LONGITUDE

9TH AVE N 27.7815054361516 -82.7165126824951

©2017 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are forexample only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the propertyfor your needs. Source: Esri ProjectID:214803

AREA OVERVIEW

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AREA OVERVIEW

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AREA OVERVIEW

14


Founded in 1803 by the Wood family and incorporated in 1865, Wawa, Inc. (the “Company” or “Wawa”) has roots in the manufacturing and textile businesses. The first Wawa Food Market opened on April 16, 1964. Today, the Company operates approximately 750 convenience stores, approximately 270 of which include a fuel offering, in Pennsylvania, New Jersey, Delaware, Maryland and Virginia. Wawa is a privately held company, with a majority of the Company stock still owned by the Wood family. Company associates who participate in the Employee Stock Ownership Plan have a nearly 30% ownership stake.

Wawa offers a large fresh foodservice selection, including freshly brewed coffee, a wide selection of delicatessen and dairy products, fresh produce, hot foods, built-to-order sandwiches and Wawa brands such as juices, teas, water and bakery products. The Company’s revenue principally consists of fuel and merchandise sales. The Company operates a dairy manufacturing facility, producing Wawa branded beverages and dairy products for distribution to, and sale in, its stores and to wholesale customers. The Company has a committed fuel storage terminal for the purpose of both storing fuel for distribution to, and sale in, its stores and for holding and selling fuel in wholesale markets.

Wawa has differentiated itself from its competitors by focusing on several key strategic areas:• Delivering fast and friendly customer service in a safe and clean shopping

environment;• Promoting and developing Wawa-branded food, beverage and fresh food items;• Maintaining world-class facilities by systematically opening new stores, closing

marginal stores and remodeling older stores; and• Maximizing operating efficiency by making significant investments in operations

programs and technology.

Wawa exceeds industry norms in virtually every measurable category (Source: NACS State of the Industry Report of 2009 Data – most recent industry data available)• Wawa merchandise sales per store averaged $4.9 million for the year ended 2009

versus an industry average of $1.5 million for 2009• Gasoline sales totaled 1.4 billion gallons for the year 2009, an average of 101,000

gallons per fuel store week or just under four times the industry average of approximately 28,000 gallons per fuel store week in 2009

• Incorporated in 1865• #34 in Forbes Ranking of America’s Largest Private

Companies• Shadow Rated: BBB• More than 750 locations in the United States – All

Company Owned and Operated• Exceeds industry norms in virtually every measurable

category


WAWA, INC.www.wawa.com

TENANT DESCRIPTION

15


AFFILIATED BUSINESS DISCLOSURE

CBRE operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

CONFIDENTIALITY AGREEMENT

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the property or the owner of all Property (the”Owner”), to be all-inclusive or to contain all or part of the information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors being the control of the Owner and CBRE,Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or CBRE, Inc., nor any of their respectful directors, officers, Affiliates or representatives make an representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

DISCLAIMER

2017 CBRE, Inc. The information containing in this document has been obtained for sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property, The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the Property of their respective owners.

CONFIDENTIAL MEMORANDUM & DISCLAIMER

MARK DRAZEKSenior Vice President Capital Markets | Net Lease Properties

+1 407 404 [email protected]

CBRE, Inc. | Licensed Real Estate Broker

RAY ROMANOFirst Vice President Capital Markets | Net Lease Properties

© 2017 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.CBRE, and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

EXCLUSIVELY MARKETED BY


Documents

OFFERING MEMORANDUM Capital Markets | Net Lease Properties · BUILDING SIZE: 6,119± SF LAND SIZE: 2.43± acres PARKING SPACES: 48 spaces (7.84/1,000 SF) YEAR BUILT: 2017 CBRE is