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Mercury New Media, Inc.
• Value-Add Opportunity with High Current & Historic Occupancy• Excellent Location 2 Miles from The Mall at Millenia, 4 Miles fromUniversal, 6 Miles for Downtown Orlando and 12 Miles from Disney• Easy Access to I-4 & Turnpike• Concrete Block Construction with Many Units Being Single Story• Close to International Drive and the Orlando Convention Center
Casienna is a 160-unit garden style apartments community located in Southwest Orlando. The property consists of 16 one and two story buildings spread across approximately 10.25 acres of land. Each building is concrete block construction with a pitched roof, built between the years of 1972 and 1973. Casienna offers a wide variety of floor plans which include Studios, Efficiencies, 1Bdr-1Bath, 2Bdr-1Bath, 2Bdr-1.5Bath, Townhomes and 3Bdr-2Bath floor plans. These floor plans range from 542 square feet to 1,201 square feet for a weighted average of 744 square feet. Casienna boasts a fantastic community amenity package including: two swimming pools, a clubhouse, tennis courts, a playground area and extra storage available to tenants. Apartment amenities include spacious walk-in closets, washer & dryer connections and central air and heat.Casienna offers the opportunity to invest in a stable asset with strong cash flow in an emerging Orlando, Florida market. The property consistently boasts a high occupancy rate with little turnover. According to Forbes, Orlando is one of the top 25 metropolitan areas across the country experiencing the biggest economic surges. The strong cash flow of Casienna combined with continued macroeconomic improvement makes Casienna an attractive short and long term investment.
City View Shopping Center is a 77,550-SF retail center in the heart of Charlotte, North Carolina. City View Shopping Center was formerly a Winn-Dixie-anchored center that has been retenanted and anchored by American Freight Furniture & Mattress and Measurement Inc. The center has a variety of retailers and service-based tenants catering to the neighborhood. Adjacent to the property attracting daily visits is a Harvey's Supermarket and two major high schools. The property is located just minutes from Uptown Charlotte, I-85, and the Charlotte Douglas International Airport. The center has three access points from Ashley Road and Alleghany Street. Ashley Road leads down to Wilkerson Boulevard and the Walmart Supercenter, while Alleghany Street leads out to Freedom Drive which has 32,500 VPD.
Charlotte is the largest city in the state of North Carolina. It is the county seat of Mecklenburg County and the second-largest city in the southeastern United States. Charlotte is the second-fastest growing major city in the United States. In 2014 the estimated population of Charlotte according to the U.S. Census Bureau was 809,958, making it the 17th-largest city in the United States based on population. The Charlotte metropolitan area is part of a sixteen-county market region or combined statistical area with a 2014 U.S. Census population estimate of 2,537,990. Charlotte is home to the corporate headquarters of Bank of America and the east coast operations of Wells Fargo, which along with other financial institutions made it the second-largest banking center in the United States. Nine Fortune 500 companies are headquartered in Charlotte's metropolitan area.
Saint Petersburg, FL
• Highly Desirable Concrete Block Construction with Pitched Roofs, Replaced Four Years Ago• Majority of the Units are Tiled• Approximately Half of the Units Have New Windows• Water & Sewer are Individually Metered and Paid by Tenant• Prime Location Off of 4th St, the Main Thoroughfare Connecting Gandy Blvd to Downtown St. Pete• 14-Minute Drive to Downtown St. Pete and a 25-Minute Drive to Downtown Tampa• Pinellas County is the Most Densely Populated County in FL
St. Croix Apartments is an attractive and well-maintained 10-unit multifamily community in St. Petersburg, FL.The property was built in 1973 of concrete block construction with pitched roofs, and consists of one, one-story U-shaped building on approximately .35 acres. The unit mix at St. Croix consists of 10 one-bedroom one-bath apartments with 750 square feet of interior space. Residents at the property enjoy an on-site laundry facility and private fenced-in patios. St. Croix Apartments offers the investor a value-add opportunity through management efficiencies as well as unit renovations.St. Croix Apartments is located one block away from 4th Street North, a major thoroughfare connecting Downtown St. Petersburg to both the Gandy and Howard Frankland Bridges. Directly across 4th St N, roughly two blocks from St. Croix, is a Winn-Dixie neighborhood supermarket. Just north of the property, within walking distance, is the Gateway Mall hosting major retailers such as Publix and a Target featuring a Starbucks. Additionally, another Starbucks is located just north along 4th St N. Further north, just past Gandy Boulevard, is the Publix Super Market at Gateway Crossings shopping center. Heading south 1.2 miles from St. Croix is an LA Fitness located on 4th St N. About a mile south are three abutting retail centers featuring Metro Diner, a popular local diner chain, Orangetheory Fitness, a fitness gym specializing in innovative workouts with a focus on intensity interval training, as well as another Starbucks. Further south are two Publix supermarkets located directly across the street from each other, one is the highest grossing store in the state. Additionally, there are many restaurants along the 4th St corridor that are conveniently located in relation to the property. This area is poised for continued growth and the St. Croix apartments is conveniently situated to enjoy the perks of these current and future retailers.
Franklin Street is pleased to present this freestanding Chili’s ground lease located in Dawsonville, Georgia, a suburb located about 40 miles northeast of downtown Atlanta. The property is located on an outparcel of the newly developed Dawson Crossroads, a 98,400 SF Publix and Petsmart anchored center. Chili’s is located on the pin corner of the property at a lighted intersection on Hwy 400 which has 32,509 VPD. Dawsonville is a growing suburb that is home to the North Georgia Premium Outlets and is easily accessible by Lake Lanier communities. The North Georgia Premium Outlets attracts more than 7.5 million visitors annually and offers more than 140 outlet designer and name-brand outlet stores including Burberry, Coach, Gap Outlet, Nike, Pottery Barn Outlet, and Polo Ralph Lauren Factory Store. Developed at the same time as Dawson Crossroads across the street is Dawson Marketplace, a 500,000 SF retail center anchored by Kroger, Hobby Lobby, Ross Dress For Less, Burlington, among others.
Chili’s signed a new 10-year corporately guaranteed ground lease in 2016 and has 9 years remaining. The lease offers ten percent rental increases every five years as well as in each of the four, five-year options to renew. Under the lease, the tenant is responsible for the payment of all taxes, insurance and common area maintenance of the property. Ground lease owner is required to write a check once a year to the shopping center parcel owner for $3,000 for the shopping centers CAM contribution, which the tenant is required to reimburse the Chili’s ground lease owner $5,000 creating an additional $2,000 of income for the owner. Chili’s is part of Brinker International which includes Maggiano’s Little Italy which combined have more than 1,600 restaurants and over 100,000 Team Members in 31 countries. Brinker International has an investment grade guarantee that is rated as BBB- by the S&P 500.
Visionworks has signed a new 10-year NN lease that commenced in February 2017. The building is currently scheduled to be renovated at Visionworks own cost with an investment of up to $250,000. Hedging against inflation, this lease offers 10% rent increases every 5 years including each option. The lease is very landlord friendly as the tenant reimburses 100% for CAM, taxes, and insurance. The property sits as an outparcel next to Oliver Garden of Regency Pointe Shopping Center and across the street from the Regency Place Mall (1,390,000 SF). Visionworks has been a long-standing tenant for the building and their investment into the property bodes well for their long-term commitment to the site. Their rent at $14.82 PSF is well below market for other similar outparcel buildings in the area, which should lead to future rent growth for an investor.
Jacksonville is the largest city in the state of Florida. It is estimated to be the 12th most populous city in the United States and is the largest city by area in the contiguous United States. Jacksonville is the cultural, commercial and financial center of North Florida. A major military and civilian deepwater port, the city is the site of two U.S. Navy bases, Naval Station Mayport and Naval Air Station Jacksonville, and the Port of Jacksonville, Florida’s third largest seaport. Jacksonville is also the 12th fastest growing city in the nation, according to a new U.S. Census Bureau report.
Creekside Apartments are a 2000 built value add investment opportunity in Atlanta, GA. The property consists of 96 units that have maintained near 100% occupancy over the last few years with minimal rent increases. The surrounding market has seen a steady increase and rents now averaging over $1 per foot, leaving tremendous upside for an incoming investor to increase rents by $200 to meet the current market.
The apartment community features a sparkling swimming pool, beautifully landscaped grounds and individual controlled access to each building. Creekside Apartments is made up of large One Bedroom One and a half Bath and Two Bedroom Two Bath units featuring extra storage closets, balconies, and laundry connections. Six of the units have been updated with new stainless-faced appliances, fixtures, and countertops resulting in instant rent premiums. Creekside Apartments are conveniently located within less than a mile of Interstate 85 with excellent connectivity to major employment centers of Buckhead, Perimeter Center, CDC/Emory, and Executive Park. The property is also in close proximity to the 165-Acre Doraville GM redevelopment and the OFS site at I-85 and Jimmy Carter Boulevard. Along with Executive Park, these massive mixed used projects will bring thousands of additional jobs to the area.
Casita Bella is a 20-unit multifamily offering located in Tampa, FL. The offering consists of 10 single-story concrete block duplexes with pitched roofs. Eight of the duplexes are situated on a .8-acre parcel on N 21st St and feature tile flooring throughout. Two of the duplexes are situated on a .24-acre parcel on E 143rd Ave just .6 miles away and have recently undergone a complete gut renovation, including: new roofs, windows, appliances, cabinets, counter tops and tile flooring. The unit mix consists of 20- 1 Bedroom 1 Bathroom units. Casita Bella is centrally located in the University North submarket, nearby by to some of Tampa Bay’s largest employers, including the University of South Florida, The Veterans Hospital, University Mall, and Busch Gardens. The University North area ranks as one of the largest submarkets in the Tampa Bay-St Petersburg MSA with 10.3% of the apartment inventory, and ranks as one of the top submarkets in terms of occupancy, with an average vacancy rate of 2.6% in Q3 2017. Casita Bella offers the investor an opportunity to acquire a value add opportunity with strong cash flow potential and a proven renovation strategy.
• Value-Add Opportunity with Strong Cash Flow Potential
• Two out of Ten Buildings Newly Renovated: New Roofs, Windows,
Appliances, Cabinets, Counter Tops and Tile Flooring
• All Units Feature Tile Flooring
• Highly Desirable Concrete Block Construction with Pitched Roofs
• Centrally Located in North Tampa Near the University of South
Florida, The Veteran’s Hospital, University Mall and Busch Gardens
• University North Submarket Average Vacancy of 2.6% for Q3 2017
• Easy Accessibility to Downtown Tampa, Tampa International
Airport, and I-275
Columbia Oaks is a 24-unit multifamily community located in Tampa, Florida. The property was built in 1983 with all buildings consisting of concrete block construction and stucco exterior walls. The unit mix consists of 24 two bedroom two bathroom units of 830 square feet. There are 3 separate buildings on-site with 100% of the units being two bedroom two bathroom. Columbia Oaks is conveniently located close to the University of South Florida, one of the largest schools in the nation, and one of the area’s largest employers. Amenities on-site include an on-site laundry facility. Other large employers in the market include Busch Gardens and the Florida Hospital. Columbia Oaks presents an outstanding opportunity to own in the growing Tampa market with immediate rent upside and promising growth in the surrounding area for the foreseeable future.
• Current In-Place Cap Rate of 7.90%, with a Total Return of 15.34%• Within Two Miles of The University of South Florida, One of the Largest Schools in the Country With an Annual Enrollment of Over 50,000 Students• 1980’s Built Portfolio Consisting of 100% Two Bedroom Apartments• Full Concrete Block Construction at Columbia Oaks• Water & Sewer Is Individually Metered Recapturing Over 72% of the Utility Bill• Major Employers in the Area Include Busch Gardens, The University of South Florida, Florida Hospital & The University Mall• Washer and Dryer Connections in Units at Columbia Oaks• East Accessibility to Downtown Tampa, Tampa International Airport, Pinellas County, and Much More Via I-275
Shadow Pines is a 48-unit multifamily community located in Tampa, Florida. The property was built in 1984 with all buildings consisting of concrete block construction on the first floor and wood framing on the second. The unit mix consists of 1 one bedroom one bathroom units of 850 square feet and 47 two bedroom two bathroom units of 850 square feet. There are 8 separate buildings on-site with over 97% of the units being two bedroom two bathroom. Shadow Pines is conveniently located close to the University of South Florida, one of the largest schools in the nation, and one of the area’s largest employers. Amenities on-site including a swimming pool and on-site laundry facility. Other large employers in the market include Busch Gardens and the Florida Hospital. Shadow Pines presents an outstanding opportunity to own in the growing Tampa market with immediate rent upside and promising growth in the surrounding area for the foreseeable future.
• Current In-Place Cap Rate of 8.38%, with a Total Return of 16.92%• Within Two Miles of The University of South Florida, One of the Largest Schools in the Country With an Annual Enrollment of Over 50,000 Students• 1980’s Built Portfolio Consisting of 97.9% Two Bedroom Apartments• Water & Sewer Is Individually Metered Recapturing Over 82% of the Utility Bill• Major Employers in the Area Include Busch Gardens, The University of South Florida, Florida Hospital & The University Mall• All Units Have a Patio or Balcony with Outside Storage at Shadow Pines• East Accessibility to Downtown Tampa, Tampa International Airport, Pinellas County, and Much More Via I-275
Franklin Street is pleased to offer an outstanding opportunity to purchase a stabilized multifamily asset with value add potential in Tallahassee, Florida. Glen Hollow is a three-story wood frame apartment building with 48 one-bedroom units of approximately 450 square feet each. The units feature a spacious kitchen with dining area and walk-in closets. Work is currently underway to install a NEW ROOF WITH 30-YEAR TRANSFERABLE WARRANTY, which will be completed prior to closing. In addition, the building has recently been painted and all exterior components are in excellent condition.Within this submarket, rents for one-bedroom units are $450 per month, compared to effective rents at Glen Hollow now averaging $350 per month, representing significant potential upside for the investor. The property is in a quiet and safe residential neighborhood located less than a mile from the campus of Florida A&M University and less than a mile from the Florida State University campus. Less than ½ mile from the subject is the FAMU-FSU College of Engineering, which is in Innovation Park, the home of many high-tech companies and university affiliated enterprises, employing over 1,900 people.
• Value Add Opportunity• New Roof With 30-Year Transferable Warranty• One Bedroom Units Are Ideal For The Area Demographics• Below Market Rents Provide Significant Upside Potential• Location is Less Than One Mile From Florida State University and Florida A&M University• Located Less Than 1/2 Mile From Innovation Park and FAMU-FSU College of Enginerring• Located in The Path Of Progress in Tallhassee’s Blueprint 2000 Initiative and FAMU Way Street Renovation