2880 HowlandBlvd Deltona, FL32725 (Orlando/Daytona Market) · In addition to Winn Dixie,...

KENT JONES COMMERCIAL PROPERTIES 713.446.3838 [email protected]

2880 Howland BlvdDeltona, FL 32725(Orlando/Daytona Market)

• Proven Location for 20 Years• New 10 year Renewal• Absolute Triple Net Lease• Recent Major Tenant Remodel• Very Solid Sales History

COMMERCIAL PROPERTIES

OFFERED BY

KENTJONES

mailto:[email protected]

WINN-DIXIE STORES, INC.,

2KENT JONES COMMERCIAL PROPERTIES 713.446.3838 [email protected]

a subsidiary of Southeastern Grocers2880 Howland Blvd, Deltona, FL 32725 (Orlando / Daytona Market)

PRICE: $6,800,000 | CAP RATE: 6.75%

NET OPERATING INCOME (NOI) $458,879

RENTABLE SQ. FT. 48,467

LAND AREA +/-6.117 Ac. (266,456 sq. ft.)

LEASE TYPE Absolute Triple Net

LANDLORD RESPONSIBILITIES None

LEASE TERM 10 Years (8.7 years remaining)

LEASE EXPIRATION Jan 1, 2028

STORE OPENED Dec 1997

RENEWALS Four 5 year options

RENT PER SQUARE FOOT $9.47

TRAFFIC COUNTS 2017 34,000 on Howland Blvd; 12,000 on Catalina Blvd.

COMMENTS:

Deltona is located about 11 miles north of the Metro Orlando MSA and isconsidered a “bedroom community” of the Orlando area, as about one-half of the professional population commutes to Orlando. The Property islocated on the hard corner of a major four lane boulevard at the lightedintersection of Howland & Catalina, and Howland is directly connected toFlorida’s I-4 and the property is the first grocery market when coming intoDeltona from the I-4 / Howland interchange.

OFFERING SUMMARY


OFFERING DETAILSKENT JONES COMMERCIAL PROPERTIES is pleased to offer for sale a fee simple interest in a well established free standing Winn-Dixie Store located just outside the Orlando Metro area in Deltona, Florida.

The property consists of a 48,467 square foot retail building situated on 6.117 acres (266,456 sq. ft.) of land,which was constructed for and occupied by Winn-Dixie in 1997. The store has enjoyed great success overthe past twenty years and most recently entered into a ten year lease extension, which runs to January of2028 under an absolute triple net (NNN) lease with no landlord responsibilities.

Winn Dixie is has recently completed a substantial investment in the store, updating and remodeling thestore consistent with its current branding of new stores and making improvements to the exterior, theparking lot, store & parking lot lighting along with numerous interior improvements and displays. Thismajor investment in the store further confirms Winn-Dixie’s commitment to this particular store and itspresence in the Deltona/Orlando marketplace.

WINN DIXIE STORES, INC. Founded in 1925, Winn Dixie employs more than 45,000 associates who servecustomers in approximately 473 grocery stores with a majority having in-store pharmacies throughout thefive Southeastern states of Alabama, Florida, Georgia, Louisiana and Mississippi. Winn Dixie targets thevalue shopper looking for a convenient, local, full-service grocer offering very competitive prices.

Winn Dixie’s parent company, Southeastern Grocers, LLC is the fifth largest conventional supermarket chainin the U.S. and the second-largest conventional supermarket in the southeast based on store count. As ofMay 28, 2018 Southeastern Grocers, LLC successfully completed its financial restructuring and emerged fromChapter 11. They transformed their financial profile and beefed up their balance sheet by lowering overalldebt levels by about $600 million, including $522 million of debt exchanged for equity in the reorganizedcompany while maintaining their strong liquidity position. In addition to Winn Dixie, Southeastern Grocersoperates the Bi-Lo, Harveys, and Fresco y Mas banners. The company has 575 grocery stores with a majorityhaving in-store pharmacies and 145 liquor stores throughout seven Southeastern states. In 2012, BI-LOmerged with Winn Dixie, and the parent company Bi-Lo Holdings was formed. In 2013, Bi-Lo Holdingsacquired 72 Sweetbay stores, plus leases for 10 prior Sweetbay locations, 72 Harveys stores and 11 Reid’sstores, totaling 165 stores from Delhaize Group. In 2014, conversions for the formerly owned Delhaize storesto Bi-Lo Holdings ownership were completed. Reid’s banner stores were converted to BI-LOs, Sweetbaybanner stores were converted to Winn-Dixies and Bi-Lo Holdings retained the Harveys banner. In 2015, Bi-LoHoldings was officially renamed Southeastern Grocers. During 2016, Southeastern Grocers achieved salesof approximately $10.5 billion.

INVESTMENT HIGHLIGHTS

• Proven 20 year Location• New 10 year Renewal

• Absolute Triple Net Lease• New Capital Improvements

• Solid Store Sales

PRICE: $6,800,000$% CAP RATE: 6.75%



POPULATION 2 MILES 3 MILES 5 MILES

2016 Population 16,364 44,733 107,332

2022 Population 17,422 47,162 112,755

2010-2017 Growth 1,809 12.4% 4,421 11.0% 10,256 10.6%

2017 White Population 83.6% 83.8% 84.9%

2017 Non-White Population 14.4% 16.2% 15.1%

2017 Hispanic Population 29.6% 30.4% 29.6%

2017 Median Age 43 46 48

HOUSEHOLDS

2017 Total Households 5,561 16,091 39,794

2022 Total Households 6,021 16,896 41,655

2010-2017 Avg. Annual Rate 1.7% 1.5% 1.4%

2017-2022 Annual Rate 0.90% 0.70% 0.70%

2017 Average Household Size 2.9 2.8 2.6

MEDIAN HOUSEHOLD INCOME

2017 Median Household Income $63,906 $59,512 $56,916

2022 Median Household Income $66,871 $61,971 $59,202

AVERAGE HOUSEHOLD INCOME

DEMOGRAPHICS

Median Home Value

$161,424Median Household Income

$63,9062017 Average Household Income $64,467 $61,553 $62,216 Population

2022 Average Household Income $64,833 $61,385 $61,135 44,733



ABOUT THE LOCATION

The City of Deltona was founded in 1962 by General Development Corp and the Mackle Bros. and is now home toover 90,000 residents and is the largest city in Volusia County. It has an annual population growth rate ofapproximately 1.4%. The City is just ten to twelve miles north of Metro Orlando and 30 miles southwest of Daytona

and offers easy access to the employment base of Metro Orlando.

The Property itself is located on a major four-lane boulevard at the lighted intersection of Howland Blvd & CatalinaBlvd. Howland Blvd is directly connected to Florida’s I-4 and the property is the first grocery market when coming intoDeltona from the I-4 / Howland Interchange. The immediate area is where most of the future residential and

commercial growth is taking place and the City is actively promoting development in this area. The City recentlyopened “The Center at Deltona”, a new state of the art 30,000 sq. ft. community center that can seat up to 7,500with theater style seating for conferences, trade shows, seminars, concerts and other community &/or school events.The Center is located on Howland Blvd just a few blocks from the subject property. Additionally, Deltona High Schoolis located on Howland Blvd just 1.4 miles west of the property, which provides a healthy flow of traffic around the

property.

DELTONA, FL

DELTONA CITY HALL


GREEN SPRINGS PARK

LAKE MCGARITY THE CENTER AT DELTONA


EXTERIOR PHOTOS



INTERIOR PHOTOS



AERIAL



CONFIDENTIALITY & DISCLAIMER


The information contained in this marketing brochure (“Materials”) is proprietary and confidential. It is intended to be reviewed only by the person or entity receiving theMaterials from KENT JONES COMMERCIAL PROPERTIES (“Agent”). The Materials are intended to be used for the sole purpose of preliminary evaluation of the subjectproperty/properties (“Property”) for potential purchase.

The Materials have been prepared to provide unverified summary financial, property, and market information to a prospective purchaser to enable it to establish apreliminary level of interest in potential purchase of the Property. The Materials are not to be considered fact. The information contained in the Materials is not asubstitute for thorough investigation of the financial, physical, and market conditions relating to the Property.

The information contained in the Materials has been obtained by Agent from sources believed to be reliable; however, no representation or warranty is made regardingthe accuracy or completeness of the Materials. Agent makes no representation or warranty regarding the Property, including but not limited to income, expenses, orfinancial performance (past present, or future); size, square footage, condition, or quality of the land and improvements; presence or absence of contaminatingsubstances (PCB’s, asbestos, mold, etc.); compliance with laws and regulations (local, state, and federal); or, financial condition or business prospects of any tenant. Aprospective purchaser must independently investigate and verify all of the information set forth in the Materials. A prospective purchaser is solely responsible for anyand all costs and expenses incurred in reviewingthe Materials and/or investigating and evaluating the Property.

By receiving the Materials you are agreeing to the Confidentiality and Disclaimer set forth herein.

COMMERCIAL PROPERTIES

OFFERED BY

KENTJONES


2880 HowlandBlvd Deltona, FL32725 (Orlando/Daytona Market) · In addition to Winn Dixie,...

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