ASPEN DENTAL - LoopNet

ASPEN DENTAL

PENSACOLA, FLORIDA

COMING Q3 2020 REPRESENTATIVE PHOTO

OFFERING MEMORANDUM

CONTENTS PRESENTED BY

4

EXECUTIVE SUMMARY

11

LOCATION OVERVIEW

NEAL PRINGLE, CCIM Director of Investment Sales

P 770.955.2434 Neal.Pringle@

ADAM BIRNBREY Senior Investment Sales Advisor

P 770.955.2434 Adam.Birnbrey@

REPRESENTATIVE PHOTO

PACE FL

12,850 STUDENTS

ESCAMBIA BAY

JIM SPOONER FIELD

THE NEXT APARTMENTS (165 UNITS)

WILLOWBROOKE COURT AT AZALEA TRACE

(82-UNIT SENIOR COMMUNITY)

COLLEGE VUE APARTMENTS (141 UNITS)

UNIVERSITY PKWY (AADT 27,500)

BAPTIST MEDICAL PARK NINE MILE (96 BEDS)

FOUNTAINS APARTMENTS (216 UNITS)

JASMINE CREEK APARTMENTS (200+ UNITS)

INDUSTRIAL PARK

KINGS MILL APARTMENTS (200 UNITS) PARK ON THE

SQUARE (240 UNITS)

E 9 MILE RD (AADT 37,500 VPD)

SCENIC HILLS COUNTRY CLUB

EXECUTIVE SUMMARY

INTRODUCTION INVESTMENT SUMMARY

SITE PLAN TENANT PROFILE LEASE ABSTRACT

REPRESENTATIVE PHOTO

PENSACOLA INTERNATIONAL AIRPORT (2M+ PASSENGERS ANNUALLY)

PENSACOLA STATE COLLEGE

(12,954 STUDENTS)

ASCENSION SACRED HEART

(566 BEDS)

FERRY PASS ELEMENTARY SCHOOL

(602 STUDENTS)

WEST FLORIDA HOSPITAL (515 BEDS)

CRESTVIEW AT OAKLEY (176 UNITS)

E 9 MILE RD (AADT 37,500 VPD)

BAPTIST MEDICAL PARK NINE MILE (96 BEDS)

UNIVERSITY PKWY (AADT 27,500)

PENSACOLA BEACH

NAVAL AIR STATION PENSACOLA

GOVERNORS GATE APARTMENTS (444 UNITS)

CREEKSIDE I & II APARTMENTS (217 UNITS)

CROSSINGS AT NINE MILE (240 UNITS)

JASMINE CREEK APARTMENTS (200+ UNITS)

FOUNTAINS APARTMENTS (216 UNITS)

INTRODUCTION

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EXECUTIVE SUMMARY

LOCATION OVERVIEW

10?YEAR TERM, HIGH CREDIT INVESTMENT

DYNAMIC RETAIL NODE NEXT TO PUBLIC UNIVERSITY LARGE EMPLOYMENT BASE AND WIDE TRADE AREA

? 10?Year Corporate Lease | Long term corporate ? Outparcel to University Town Center | Situated ? Minutes From Two Prolific Hospitals | Catty

lease with three, 5?year options to renew

on an outparcel to a power center anchored by

corner to 96?bed Baptist Medical Park ? Nine

Target, Publix and Kohl's

Mile and 1.4 miles north of 515?bed West Florida

? Brand New 2020 Construction | Ground up

Hospital

development built in 2020 with tenant's latest ? Adjacent To New Retail Development | Brand

prototype

new strip center across E Nine Mile Rd includes ? Strong Daytime Population Surrounding Property

Chipotle, First Watch, Foosackly's, AT&T and Sport

| Daytime population exceeds 116,000 within a

? Hedge Against Inflation | 10% rental increases

Clips

5?mile radius | 62,000+ workers

every five years through initial term and options

? Proximity to University of West Florida (12,850 ? Main Thoroughfare Connecting Pace and Milton

? Minimal Landlord Responsibilities | Tenant

Students) | Less than one mile from University of

| E Nine Mile Rd is the main highway connecting

reimburses CAM, Taxes and Insurance | Landlord

West Florida along University Pkwy

Pensacola suburbs, Pace and Milton

to handle roof & structure (10?year roof warranty in

place)

? Heavy Traffic Counts | 65,000 VPD at the ? Significant Traffic To University Town Center |

intersection of E Nine Mile Rd and University Pkwy

Estimated 1.9 million visits and over 375,000

? 800+ Locations in 42 States | Well established

customers over the last 12 months

brand with new locations opening every 4-5 days ? Signalized Access | Immediately adjacent to

Starbucks and Sonic with cross access to a traffic ? Home To Blue Angels | Estimated 11 Million

light and University Town Center's entrance

spectators from March ? November each year

ADDRESS YEAR BUILT GLA (SF)

1711 E Nine Mile Rd Pensacola, FL 32514

2020 (Under Construction)

3,750

TENANCY

Single

LAND ACREAGE

0.66 Acres

REPRESENTATIVE PHOTO

OCCUPANCY

100%

ASPEN DENTAL - PENSACOLA, FL ?

6

INVESTMENT SUMMARY

$2,656,000

6% CAP RATE

6.3% AVG CAP RATE OVER TERM

GROSS LEASEABLE AREA

3,750 SF

YEAR BUILT

2020

(UNDER CONSTRUCTION)

TENANCY

SINGLE

$

NOI

$159,375

Tenant

Aspen Dental

Lease Type

Modified NNN

Term

Rent Commencement Date

Options

10 Years Expected 9/1/2020 Three, 5-Year

Rental Increases

10% Every 5 Years

Guarantor

Corporate

RENT SCHEDULE Initial Term Year 1-5 Year 6-10

Monthly Rent

$13,281.25 $14,609.38

Annual Rent

$159,375 $175,313

Extension Term

Option 1 Option 2 Option 3

Monthly Rent

$16,071.88 $17,678.13 $19,446.88

Annual Rent

$192,863 $212,138 $233,363

Cap Rate 6.00% 6.60%

Cap Rate 7.26% 7.99% 8.79%

ASPEN DENTAL - PENSACOLA, FL ?

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LOCATION OVERVIEW

EXECUTIVE SUMMARY

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HOME OF THE

BLUE ANGELS

#1 BEST BEACH IN FLORIDA

(USA TODAY)

1ST EUROPEAN SETTLEMENT

IN THE UNITED STATES

HOME OF THE

FIRST NAVY AIR STATION IN U.S.

GAS STATION

GAS STATION

NINE MILE ROAD

NINE MILE ROAD

FLFOEDRIEDRAALSTCARTEEDEITMUPLNOIOYENES

Lot Size: 0.66 Acres

Parking: 29 Spaces

AADT: 37,500 E Nine Mile Rd

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