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Partnership. Performance.

Steve TannerSenior Vice President - OrlandoD: 407.440.6652E: [email protected]

Timothy GaritoPrincipalD: 321.848.8269E: [email protected]

Dunkin’ Donuts 920 W SR 44 | Wildwood, FL

NNN ABSOLUTE LEASED OFFERING

This confidential Offering Memorandum was prepared by Garito and Company, LLC and Avison Young - Florida, LLC. It contains selected information pertaining to the Property and does not purport to be all-inclusive, nor to contain all the information that a prospective investor may desire. This presentation is not an offer to sell or a solicitation to buy any securities, and is subject; to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement, or advice as to the actual return on this investment.

Except for any historical information, such matters discussed herein are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, and could result in the loss of principal. Each prospective investor is to rely upon its own investigation, evaluation and judgment as to the advisability of the investment described herein.

Sources of information contained within this Offering Memorandum came from: CoStar, Integrated Realty Resources, Google, Esri and the US Census Bureau.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions with any party at any time with or without notice. The Owner shall have no legal commitment or obligation to any investor or Broker reviewing this Offering Memorandum or making an offer to invest in the Property unless a written agreement has been fully executed, delivered, and approved by the Owner and any conditions to Owner’s obligations thereunder have been satisfied or waived.

This Offering Memorandum is the property of Garito and Company, LLC and Avison Young - Florida, LLC and may only be used by parties approved by Garito and Company, LLC and Avison Young - Florida, LLC. The Property is being privately offered and by accepting this Offering Memorandum, the party in possession hereof agrees that its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Garito and Company, LLC and Avison Young - Florida, LLC and Owner. The terms and conditions set forth apply to this Offering Memorandum in its entirety.

D I S C LO S U R E

LO I G U I D E L I N E SClosing Costs: Closing costs will be divided as customary and included in the contract.

PURCHASE CONTRACT:

Seller will prepare the purchase and sale agreement.

TRANSACTION:

• “As-Is, Where-Is” sale; Representations and Warranties Shall not survive closing.

• Due Diligence period : 30 days or less

• Closing Period: 30 days or less

• Seller will provide personal financial statements and draft of proposed lease after fully executed LOI

Steve TannerSenior Vice President - OrlandoD [email protected]

135 W. Central BoulevardSuite 700Orlando, FL 32801United States

Avison Young – Florida, LLC

O F F E R E D E XC LUS I V E LY BY:

Timothy [email protected]

1501 E Michigan St. Orlando, FL 32806United States

Garito & Company,LLC www.garitoco.com


DUNKIN’ DONUTS | INVESTMENT OFFERING 3

OFFERING SUMMARY

I N T R O D U C T I O N

Garito and Company and Avison Young’s Capital Markets Group are pleased to offer for sale a 100% fee simple interest the newly constructed, free-standing Dunkin’ Donuts with drive-thru located at 920 W SR 44, Wildwood, Florida. The location will be open April 2018 and will be sold with a 20 year NNN lease term. The Property is strategically located on the highly traveled I-75 (40,000 AADT) and SR 44 (14,510 AADT).

I N V E S T M E N T H I G H L I G H T SLong Lease Term • The Property will be sold with a new 20 year primary lease term

High Traffic Area • The Property is located near the intersection of I-75 and the Florida Turnpike, two of

Florida’s main thoroughfares

Strategic Location • State Road 44 is the western entrance to The Villages, one of the nations largest and

fastest growing age-restricted communities in the U.S.

Great Visibility • The Property is easily accessible from State Road 44

Traffic Generating Neighbors• Other restaurants in the area include: McDonalds, Wendy’s, Zaxby’s, Burger King,

Waffle House, Steak & Shake and Popeye’s

Strong Guarantee • The lease will be personally guaranteed by an operator, one of the largest Dunkin’

Donuts operators in the USNew Construction• The building is expected to be completed in April 2018

S I T E S P E C I F I C AT I I O N SAddress:

Total GLA:

Site Area:

920 W SR 44, Wildwood, FL 34785 2,000 sf

1 +/- ac

Lease Expiration: 2038

Increases: 8.00% every five years

Options: Four (five year options)

P R I C I N GTenant Name:

Franchisee:

Grantor:

Ownership Type/Lease Type:

Landlord Responsibilities:

Store Opening:

Lease Term Remaining:

Price:

Year-One NOI:

Dunkin’ Donuts Carlos Andrade Group Personal guarantee Fee Simple/NNN

None

April 2018

20 Years

$1,200,000

$60,000

Cap Rate: 5.00%*Tenant can assign without consent to any Dunkin' approved franchisee


D U N K I N ’ D O N U T S | A B S O LU T E N N N L E A S E O F F E R I N G

920 W SR 44, Wildwood, FL 34785$1,200,0005.00% CAPFee Simple Ownership

FINANCIAL SUMMARY

S U M M A R YTenant Name:

Square Footage:

Store Opens:

Lease Term Remaining:

Rent Commencement:

Annual Rent:

Options:

Increases:

Dunkin’ Donuts

2,000 sf

April 2018 ( Estimated) 20 Years

Close of escrow

$60,000

Four (5 year)

8.00% every 5 years

Lease Expiration: 2038

O P E R AT I N G S U M M A R YNet Operating Income CAP Rate

Years 1-5 $60,000 5.00%

Years 6-10 5.40%

Years 11-15 5.83%

Years 16-20 6.30%

Option 1 6.80%

Option 2 7.35%

Option 3 7.93%

Option 4

$64,800

$69,984

$75,583

$81,629

$88,160

$95,212

$102,829 8.57%

PRO

POSE

D

PRO

POSE

D

STATE ROAD 44

CR-2

29

CR-232A

WILDWOOD SITE PLANDUNKIN’ DONUTS


P E O P L E & D E M O G R A P H I C S

POPULATION 1 MILE 3 MILE 5 MILE SUMTER FLORIDAEst. Population (2017) 2,832 21,994 73,252 198,300 20,600,000

Proj. Population (2022) 3,349 25,436 84,346 227,919 22,600,000

Proj. Annual Population Growth (2017-2022) 517 (3.6%) 3,443 (3.1%) 11,094 (3.0%) 29,618 (3.0%) 1,988,319 (1.9%)

Est. Households (2017) 1,184 10,998 36,763 87,565 8,216,632

Proj. Households (2022) 1,449 13,170 43,899 100,364 8,.669,057

Proj. Annual Household Growth (2017-2022) 265 (4.5%) 2,173 (4.0%) 7,137 (3.9%) 12,798 (2.9%) 452,452 (1.1%)

Median Age 57.3 64.9 66.2 55.2 41.0

HOUSEHOLD INCOMEEst. Avg. Household Income (2017) $56,514 $74,802 $76,927 $63,777 $72,504

Proj. Average Household Income (2022) $55,500 $76,357 $78,717 $68,139 $89,263

Est. Median Household Income (2017) $46,318 $59,111 $61,181 $52,056 $52,516

Proj. Median Household Income (2022) $53,830 $69,163 $71,800 $61,446 $61,586

EDUCATIONAny College (Some College or Higher) 56.8% 64.8% 64.8% 54.4% 58.5%

College Degree + (Bachelor Degree or Higher) 28.3% 34.4% 34.4% 24.6% 28.4%

WORKFORCETotal Businesses 167 489 1,354 4,865 877,384

No. of Employees 2,121 6,341 17,339 49,891 8,729,684

White Collar Workers 60.5% 60.8% 61.3% 55.4% 61.4%

Blue Collar Workers 39.5% 39.2% 38.7% 44.6% 38.6%

HOUSINGOwner-Occupied Median Home Value $226,825 $218,333 $241,062 $176,557 $180,290

Renter-Occupied Median Rent $1,855 $838 $823 $709 $887

Housing Units Owner-Occupied 87.0% 92.7% 94.6% 85.7% 66.6%

Housing Units Renter-Occupied 13.0% 7.3% 5.4% 14.3% 33.4%

* Source: Regis 2017 Report


MAP

SR 44

SR 44


MAPSITE LOC ATION

40,400 AADT

S M

ain

St466A44A

72,500 AADT 68,00 0 A

AD

T

WILDWOOD

THE VILLAGES

16,700 AADT


TENANT OVERVIEW

CARLOS ANDRADE GROUP

The Carlos Andrade Group is based in Westwood, MA. The company is one of the largest Dunkin’ Donuts Franchisees in the U.S.

DUNKIN’ DONUTS

Founded: 1950No. of Stores: 11,300Headquarters: Canton, MAWebsite: www.dunkindonuts.com/en

Founded in 1950, Dunkin’ Donuts is America’s favorite all-day, everyday stop for coffee and baked goods. Dunkin’ Donuts is a market leader in the hot regular/decaf/flavored coffee, iced coffee, donut, bagel and muffin categories. Dunkin’ Donuts has earned the No. 1 ranking for customer loyalty in the coffee category by Brand Keys for nine years running. The company has more than 11,500 restaurants in 40 countries worldwide.

*Tenant can assign without consent to any Dunkin' approved franchisee


WILDWOODWildwood, at the juncture of Interstate 75, Florida’s Turnpike, State Road 44, and U.S. Highway 301, is often referred to as “The Crossroads of Florida.” Only an hour from both Tampa and Orlando, Wildwood makes an excellent jumping off point for daily excursions throughout Central Florida. Wildwood is also home to the southernmost expansion of The Villages, the fastest-growing mic-ropolitan area in the U.S. Come check out the new town square at Brownwood Paddock Square, where every night is a Saturday night and every day is a Sunday. If getting back to nature is more your thing, Wildwood is home to two wildlife management areas, where visitors can fish, hunt, camp, hike, bike, enjoy some of the finest birding in the area, or just chill in a relaxed, rural, nature setting. Wildwood, Sumter County, FL… the real Florida.

I -75I-75 is one of Florida’s main traffic thoroughfares connecting the Miami area to the south, Naples, Ft Myers, Tampa, Gainesville and exiting to Georgia on the north. The Florida turnpike merges into I-75 just south of Wildwood, funneling north/south bound from each road onto together in Wildwood. This creates traffic counts of over 72,000 vehicles per day.

THE VILL AGE SThis 55+ community is the largest age-restricted community in the country and spans three counties, three zip codes, and over 20,000 acres. With plans to have more than 56,000 residences at build out, The Villages has everything you could want or need because it is a self-sustaining town with 17 recreation centers and 25 neighborhood centers. From swimming pools to golf courses, healthcare centers to shopping centers, there is no shortage of fun, activities, and daily conveniences for residents in this vibrant community. Construction in The Villages began in 1978 and still continues to this day, with new floor plans as well as resale homes found throughout the many colorful neighborhoods within the community.

AERE A OVERVIEW


Steve TannerSenior Vice President - OrlandoD: 407.440.6652E: [email protected]

Timothy GaritoPrincipalD: 321.848.8269E: [email protected]

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