HOMESTEAD, FL - LoopNet · investment opportunity homestead, fl (miami msa) actual property. offered at: $2,098,000 | 6.25% cap (6.80% avg cap over term) united site services

INVESTMENT OPPORTUNITY

HOMESTEAD, FL (MIAMI MSA)

Actual Property

OFFERED AT: $2,098,000 | 6.25% CAP (6.80% AVG CAP OVER TERM)

UNITED SITE SERVICES

EXECUTIVE SUMMARY AREA OVERVIEW

UNITED SITE SERVICES | Homestead, FL | 2

TENANT OVERVIEW PROPERTY INFORMATION

4 Offering Summary5 Investment Highlights6 Lease Summary & Rent Schedule7 Lease Abstract

EXECUTIVE SUMMARY

9 About United Site Services

TENANT OVERVIEW

26 Homestead Overview27 Industrial Submarket Overview28 Miami Overview29 Demographics

Confidentiality Agreement & Disclosures

AREA OVERVIEW

CAPITAL MARKETS EXPERTS

Color Scheme

Fonts

GOTHAM/ BLACKGOTHAM/ MEDIUMGOTHAM/ LIGHT

CMYK C:0 / M:100 / Y:65 / K:47

RGB R:145 / G:0 / B:40

CMYK C:0 / M:0 / Y:0 / K65

RGB R:119 / G:120 / B:123

RYAN BARR | Principal760.448.2446

[email protected]

RYAN BENNETT | Principal760.448.2449

[email protected]

TABLE OF CONTENTS

Actual PropertyBROKER OF RECORD:

South Investment Property, LLC dba Lee & Associates South Florida FL Broker’s Lic# BK3088290

13 Property Layout14 Location Maps16 Site Plan17 Property Photos20 Aerials

PROPERTY INFORMATION

GREG PIERATT | Principal760.929.7837

[email protected]

INDUSTRIAL SPECIALIST

EXECUTIVE SUMMARYUNITED SITE SERVICES






PROPERTY OVERVIEW

Address: 790 NW 10th AveHomestead, FL 33030

Property Size: Approx 10,000 Sq FtLand Size: 2.97 Acres (2 Parcels)Ownership: Fee SimpleYear Built: 1975APNs: 10-7813-059-0090 & -0100

INVESTMENT HIGHLIGHTS

Offering Price: $2,098,000Net Operating Income: $131,127Cap Rate: 6.25%Avg Cap Rate Over Term: 6.80%Lease Type: Absolute NNN

LL Responsibilities: Foundation & Load Bearing Walls(See Abstract pg 7

Lee & Associates is pleased to exclusively offer for sale the fee simple interest (land & building) in a single-tenant industrial investment property located in Homestead, FL (the “Property”). Built in 1975 and renovated in 2017, the Property consists of a 10,000-square-foot industrial building that sits on two (2) parcels totaling approximately 2.97 acres. The property is leased by United Site Services of Florida, Inc., a wholly owned subsidiary of United Site Services, Inc. United Site Services is the nation’s leader in portable toilet rentals, restroom trailer rentals, and temporary fencing. Founded in 1999, the company has over 100 locations across the U.S. and has revenues of over $500 million (Source: Moody’s). The company offers its services for construction, events, agriculture, seasonal, emergency, government, and industrial markets in the United States. In 2017, United Site Services was acquired by Platinum Equity for a sum of $1.15 Billion. Platinum Equity is a global investment firm with $13 billion of assets under management and a portfolio of approximately 30 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund. The landlord-friendly triple-net (NNN) lease has 8+ years remaining and features 3% annual rent increases that continue throughout the two (5)-Year option periods, offering an investor a long-term passive investment with tremendous income growth.This site ideally suits the unique needs of the tenant with a large 2.97 Acre required fenced outdoor storage yard with a warehouse/storage facility, office, and a fence repair area. The tenant has extremely limited relocation options due their unique use and trend by cities to phase out heavy industrial and outside storage uses. This provides an investor with mitigated vacancy risk long term and there is a high likelihood the tenant will remain at this location long-term. The property is conveniently located on NW 10th Avenue, near south Florida’s three major highways - Hwy 997, Hwy 1 and Ronald Reagan Turnpike - providing for easy access to Downtown Miami, just 34 miles away. The site’s strategic location in the city of Homestead makes it one of the last stops for industrial real estate before going into the Florida Keys. The tenant is centrally located to numerous nurseries, farms, and ranches, and offers proximity to Homestead Air Reserve Base (8.5 miles) and the Homestead-Miami Speedway (6 miles), a 650-acre facility that hosts on-track events nearly 300 days per year; all of these resources offer strong demand for the tenant’s use. The subject property is located within the city of Homestead, a city within Miami-Dade County in southern Florida just 34 miles south of Miami. The city is located near the southern terminus of the Homestead Extension of Florida’s Turnpike where it ends at its junction with U.S. 1, immediately north and east of Florida City. Homestead is primarily a Miami suburb and is a principal city within the Miami Metropolitan Area, the second-most populous in the southeastern United States and the seventh-largest metro in the nation, with an estimated 2018 population of 6.1 million residents. Over the last decade, Homestead has had significant housing development and the population is expected to grow 7.7% by 2023. This growth has spurred new businesses and infrastructure developments in the area and is feeding a strong demand for more distribution in the region. The region has seen tremendous growth in population, commerce and infrastructure development and is within an advantageous distribution point to service both Southern Miami-Dade County and the Florida Keys.

-- OFFERING SUMMARY --

• Offering Summary • Lease AbstractLease Summary & Rent ScheduleInvestment Highlights




-- INVESTMENT HIGHLIGHTS --

UNITED SITE SERVICES: STRONG NATIONAL CREDIT TENANT • SALES REVENUES OF OVER $500 MILLION (2018) • ACQUIRED BY GLOBAL INVESTMENT FIRM IN 2017 FOR $1.15 BILLIONUnited Site Services is the nation’s leader in portable toilet rentals, restroom trailer rentals, and temporary fencing. Founded in 1999, the company has over 100 locations across the United States and has revenues of over $500 million (Source: Moody’s). The company offers its services for construction, events, agriculture, seasonal, emergency, government, and industrial markets in the United States.

In 2017, United Site Services was acquired by Platinum Equity for $1.15 billion. Platinum Equity is a global investment firm with $13 billion of assets under management and a portfolio of approximately 30 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund.

3% ANNUAL RENT ESCALATIONS • LONG TERM PASSIVE (NNN) LEASE • MINIMAL LL RESPONSIBILITIESThe subject property is leased to United Site Services of Florida, LLC, a wholly owned subsidiary of United Site Services, Inc. United Site Services has 8+ years remaining on a 10-year term. The landlord friendly Triple-Net (NNN) lease features 3% annual rent increases that continue throughout the two (5)-Year option periods, offering an investor an ideal long-term passive investment with tremendous income growth.

HARD TO REPLICATE SUBJECT PROPERTY WITHIN MARKET • LIMITED RELOCATION OPTIONS FOR TENANT DUE TO UNIQUE USE • HIGH LIKELIHOOD OF LONG-TERM TENANCY AT THIS LOCATIONThe tenant has extremely limited relocation options due their unique use and trend by cities to phase out heavy industrial and outside storage uses. This provides an investor with mitigated vacancy risk long term and there is a high likelihood the tenant will remain at this location long-term.

PROPERTY FITS TENANT’S UNIQUE NEEDS • IDEAL BUILDING CONFIGURATION • 2.97 ACRE SECURE FENCED IN YARD SPACE FOR STORAGEThis site ideally suits the unique needs of the tenant with a large 2.97 Acre required fenced outdoor storage yard. In addition, the building is a perfect fit for the tenant’s needs with a warehouse/storage facility, office, and a fence repair area. Properties that meet this tenant’s requirements are extremely hard to replicate in this market.

STRATEGIC LOCATION ALLOWING DISTRIBUTION TO MIAMI DADE COUNTY & THE FLORIDA KEYS • 34 MILES FROM DOWNTOWN MIAMI • NEAR ALL MAJOR FLORIDA HIGHWAYSThe property is conveniently located on NW 10th Avenue, near south Florida’s three major highways - Hwy 997, Hwy 1 and Ronald Reagan Turnpike - providing for easy access to Downtown Miami, just 34 miles away. Additionally, the site’s strategic location in the city of Homestead makes it one of the last stops for industrial real estate before going into the Florida Keys. Its proximity to Homestead Air Reserve Base (8.5 miles) and the Homestead-Miami Speedway (6 miles) offer strong synergy for the tenant’s use, providing a steady stream of demand.

LOCATED IN HOMESTEAD • PRINCIPAL CITY WITHIN MIAMI METROPOLITAN AREA • GATEWAY TO FLORIDA KEYS The subject property is located in the city of Homestead, a city within Miami-Dade County in southern Florida just 34 miles south of Miami. The city is located near the southern terminus of the Homestead Extension of Florida’s Turnpike where it ends at its junction with U.S. 1, immediately north and east of Florida City. Homestead is primarily a Miami suburb and is a principal city within the Miami Metropolitan Area, the second-most populous in the southeastern United States and the seventh-largest metro in the nation, with an estimated 2018 population of 6.1 million residents.

Over the last decade, Homestead has had significant housing development and the population is expected to grow 7.7% by 2023. This growth has spurred new businesses and infrastructure developments in the area and is feeding a strong demand for more distribution in the region. The region has seen tremendous growth in population, commerce and infrastructure development and is located in an advantageous distribution point to service both Southern Miami-Dade County and the Florida Keys.

Offering Summary • Investment Highlights • Lease AbstractLease Summary & Rent Schedule




-- RENT SUMMARY ---- LEASE OVERVIEW --

LEASE INFORMATION

Tenant: United Site Services of Florida, Inc.

Building Size: 10,000 SF

Lot Size: 2.97 Acres

Annual Base Rent: $131,127

Rent Commencement: December 20, 2017

Lease Expiration: December 31, 2027

Base Lease Term: 10 Years

Base Term Remaining: 8+

Renewal Options: (2) 5-Year Options

Rent Increases: 3% Annual Rent Increases

Lease Type: Absolute Triple-Net (NNN)

Landlord Responsibilities: Foundation, Load Bearing Walls (see Abstract pg 7)

RENT SCHEDULE - PRIMARY TERM

Months Start Date End Date NOI/Yr NOI/Mo NOI/SF/Yr Increase Cap Rate

Year 2 1/1/2019 12/31/2019 $127,308.00 $10,609.00 $12.73 3% 6.07%

Year 3 1/1/2020 12/31/2020 $131,127.00 $10,927.25 $13.11 3% 6.25%

Year 4 1/1/2021 12/31/2021 $135,061.00 $11,255.08 $13.50 3% 6.44%

Year 5 1/1/2022 12/31/2022 $139,112.00 $11,592.66 $13.91 3% 6.63%

Year 6 1/1/2023 12/31/2023 $143,286.00 $11,940.50 $14.33 3% 6.83%

Year 7 1/1/2024 12/31/2024 $147,584.00 $12,298.67 $14.76 3% 7.03%

Year 8 1/1/2025 12/31/2025 $152,021.00 $12,668.41 $15.20 3% 7.25%

Year 9 1/1/2026 12/31/2026 $156,572.00 $13,047.66 $15.65 3% 7.46%

Year 10 1/1/2027 12/31/2027 $161,269.00 $13,439.08 $16.12 3% 7.69%

OPTION PERIODS - (1) 5-Year Option

Option 1 11/1/2026 10/31/2027 $166,107.07 $13,842.25 $16.61 3% 7.92%

11/1/2027 10/31/2028 $171,090.28 $14,257.52 $17.10 3% 8.15%

11/1/2028 10/31/2029 $176,222.98 $14,685.25 $17.62 3% 8.40%

11/1/2029 10/31/2030 $181,509.67 $15,125.80 $18.15 3% 8.65%

11/1/2030 10/31/2031 $186,954.96 $15,579.58 $18.69 3% 8.91%

Option 2 11/1/2031 10/31/2032 $192,563.61 $16,046.96 $19.25 3% 9.18%

11/1/2032 10/31/2033 $198,340.52 $16,528.37 $19.83 3% 9.45%

11/1/2033 10/31/2034 $204,290.73 $17,024.22 $20.43 3% 9.74%

11/1/2034 10/31/2035 $210,419.45 $17,534.95 $21.04 3% 10.03%

11/1/2035 10/31/2036 $216,732.03 $18,061.00 $21.67 3% 10.33%

• Lease Summary & Rent Schedule •Offering Summary Lease AbstractInvestment Highlights




-- LEASE ABSTRACT --

Net Lease: 4(a) - This is an absolutely net lease and the Rent and all other sums payable hereunder by Lessee shall be paid without notice (except as expressly provided herein), demand, setoff, counterclaim, abatement, suspension, deduction or defense.

Real Estate Taxes: 5(a) - Lessee shall pay all Taxes (as defined below) levied or assessed against the Premises, and provide Lessor a copy of such paid receipt, at least ten days before they would otherwise become delinquent.

Utilties: 6 - Lessee shall cause all utilities to be placed in its name and shall pay the actual costs for all utilities, including without limitation, water, sewer, natural gas, telephone and electricity, used on the Premises. In the event there is not a separate meter for such utility service to the Premises, Lessee shall have the option of installing a separate meter at its expense.

Maintenance, Replacement & Repairs:

13 - Lessor, at Lessor’s sole cost and expense, shall maintain, repair and replace, if necessary, load bearing walls, structural supports, foundation and the exterior walls, and shall replace (but not repair) the roof and roof component parts. For purposes of the foregoing sentence, the roof and roof component parts shall be deemed to need replacement if Lessee delivers to Lessor a written and detailed estimate for roof repairs provided by a duly licensed and qualified roofing contractor acceptable to Lessor, and Lessor determines, in its reasonable discretion after consultation with a roofing contractor of its selection, that such roof repairs would cost more than $5,000 (during any Extension Term, $7,500) or 50% of the cost at such time to replace the roof (or component part at issue), whichever is greater. Notwithstanding the aforesaid, in the event any such repair or replacement is caused by the negligence or misconduct of Lessee or Lessee’s employees, agents or invitees, Lessee shall reimburse to Lessor. as Additional Rent, the cost of such replacement within thirty (30) days after receipt of Lessor’s invoice for same. For purposes of this Section, the term “exterior walls” shall not include windows, plate glass, window and door frames, outside lighting, office doors, dock doors, dock bumpers, office entries, or any exterior improvement made by Lessee. Lessor reserves the right to designate all sources of services in connection with Lessor’s obligations under this Lease.

Lessee, at Lessee’s sole cost and expense, shall have the duty to periodically inspect and to keep and maintain, service, repair and replace, if necessary, non-structural portions of the Premises which are not expressly the responsibility of Lessor pursuant to the preceding paragraph, including, but not limited to, any windows, plate glass, office doors, dock doors, office entries, interior walls and finish work, floors and floor coverings, water heaters, heating and air conditioning systems, including supplemental components thereof, electrical fixtures, dock bumpers and equipment, plumbing, fixtures, parking lot and pest extermination

Insurance:

15(a) - Lessor agrees to carry fire, flood insurance, if applicable, and extended coverage insurance, insuring the Building upon the Premises in the amount of the full replacement value. Lessee shall carry fire, flood insurance, if applicable, and extended coverage insurance, insuring Tenant’s Personal Property and any alterations, additions or improvements conducted pursuant to Section 10 above, both in the amount of the full replacement value.15(b) - Lessee shall obtain and maintain in force throughout the Term commercial general liability, premises and operations insurance in the amount not less than TWO MILLION DOLLARS ($2,000,000.00) for any one injury (including death) to persons, of not less than THREE MILLION DOLLARS ($3,000,000.00) for any one casualty and of not less than ONE MILLION DOLLARS ($1,000,000.00) for property damage with an “Additional Insured-Managers or Lessor of Premises Endorsement” showing the Lessor, any lender of Lessor and any property management agent as an additional insured.

Estoppel Certificate:33 - Not more than twice annually, Lessee, upon not less than twenty days’ prior written notice, shall execute, acknowledge and deliver to Lessor a certificate in a form reasonably consistent with Exhibit “D”, evidencing whether or not (i) this Lease is in full force and effect; (ii) this Lease has been amended in any way: (iii) there are any existing defaults on the part of Lessor hereunder, to the knowledge of Lessee and specifying the nature of such defaults, if any; and (iv) the date to which Rent and other amounts due hereunder, if any, have been paid.

• Lease Abstract •Offering Summary Investment Highlights Lease Summary & Rent Schedule

TENANT OVERVIEWUNITED SITE SERVICES






• United Site Services •

-- ABOUT UNITED SITE SERVICES --

United Site Services, Inc. provides portable toilet, restroom trailer, and temporary fence rental services. The company rents portable restrooms, such as standard, deluxe, flushing, high rise construction, wheelchair accessible, ADA compliant, and VIP solar restrooms, as well as trailer-mounted toilets; portable hand washing sinks; shower trailers and portable cold shower rooms; waste holding tanks; restroom trailers,

including black tie, gold, silver, and bronze trailers; and in-ground temporary, panel, and privacy screen fence. It also offers additional products and services, such as roll-off trash dumpster rental; temporary power and generators; commercial and residential septic system tank pumping; grease trap service; street sweeping/scraping; mobile office restroom systems; and portable storage containers. The company offers its services for construction, events, agriculture, seasonal, emergency, government, and industrial markets in the United States..

United Site Services, Inc. was formerly known as United Liquids, Inc. and changed its name to United Site Services, Inc. in October, 2000. The company was founded in 1999 and is headquartered in Westborough, Massachusetts with over 100 locations across 30 states across the U.S. United Site Services, Inc. is a former subsidiary of USS Parent Holding Corp.

United Site Services’ rental equipment and site services consist of portable toilets, portable sinks, temporary fencing, steel storage containers (commonly known as a shipping container), mobile office containers, restroom trailers, shower trailers, temporary power installation, large power engine-generators, erosion control (SWPPP), septic tank pumping, grease trap pumping, and street sweeping. Only portable toilets, portable sinks, restroom trailers and temporary fence are available for rent at every location, while other rental products and services are available at select locations.

In July 2017, Platinum Equity acquired United Site Services for $1.15 billion (see below).

COMPANY OVERVIEWCompany: United Site Services, Inc.

Founded: 1999

Sales Revenues: Over $500 Million (Moody’s)

Locations: Over 100 Sites in 30 States

Employees: 2,900+

Headquarters: Westborough, MA

Website: www.unitedsiteservices.com

PLATINUM EQUITY ACQUIRES UNITED SITE SERVICESLOS ANGELES (July 24, 2017) – Platinum Equity today announced it has signed a definitive agreement to acquire United Site Services (USS). “We look forward to partnering with the USS management team to drive continued growth and help maximize performance throughout the business,” said Platinum Equity Partner Louis Samson. “The company has proven to be a strong platform on which to build and it will benefit from the additional M&A and operational resources our team brings to bear.”View press release on Page 24




• Goodman / Daikin Global •

-- ABOUT UNITED SITE SERVICES --

More Event Professionals trust their reputation to United Site Services than any other provider from coast to coast. Our team of event restroom and temporary fence experts will guide you in the selection of your services and assist you all the way through load in and load of your event, no matter how complex it is.

You can feel confident trusting your event portable toilet needs to United Site Services for many reasons including unmatched inventory size for needs of any scale, most branch locations of any provider from coast to coast, incredible value with event restrooms to match any budget and the best team of industry expert account managers to help make your event restroom needs the most simple part of your event planning process.

United Site Services outperforms the event competition in these critical areas: » Largest Inventory in the United States with over 200,000 top quality portable toilet and event restroom trailer rentals » Over 90+ Locations and Growing gives us a local feel, but a national reach » Unmatched Value with our like-new event restrooms and our affordable prices that fit any budget » Environmentally Friendly chemicals, cleaners, and recycled supplies so you can be assured you aren’t hurting the

environment when choosing us » Industry Expertise with our highly-knowledgeable account managers who help plan the number of event restrooms

you’ll need, coordinate the delivery, servicing, & pickup of the units, so you focus on more important things. » Bundle Services & Save time by choosing USS for all of your event needs

INDUSTRIES SERVED MAJOR EVENTS/CLIENTS PRODUCTS/SERVICESConstruction Super Bowl/NFL Portable Restrooms

Events Boston Marathon Hand HygleneFairs & Festivals Marine Base Camp Penleton ShowersRunning Events California Speedway (Nascar/Indy car) Holding Tanks

Speedway Rentals Daytona International Speedway Restroom TrailersWedding Restrooms Rose Bowl - Pasadena Fences

Agriculture Coachella Music Festival Roll Off TrashSeasonal Events Rock N Roll Marathon Events Temporary Power

Emergency President Obama Inaguration Septic Tank Pumping Government Grease Trap Services

Industrial Street SweepingMobile Office Restroom System

Portable Storage

OVER 100 LOCATIONS ACROSS THE UNITED STATES




Platinum Equity to Acquire United Site ServicesPress Release · July 24, 2017LOS ANGELES (July 24, 2017) –Platinum Equity today announced it has signed a definitive agreement to acquire United Site Services (USS). Financial terms of the transaction were not disclosed.United Site Services, based in Westborough, Mass., is a leading provider of portable restrooms, temporary fence and related site services. The company serves customers throughout the United States through a network of more than 80 locations and the largest fleet of portable sanitation equipment in the country.“We look forward to partnering with the USS management team to drive continued growth and help maximize performance throughout the business,” said Platinum Equity Partner Louis Samson. “The company has proven to be a strong platform on which to build and it will benefit from the additional M&A and operational resources our team brings to bear.”USS CEO Ron Carapezzi said USS and Platinum Equity are a great fit.“This is exciting news for our company and our customers and we are thrilled about the prospect of partnering with Platinum Equity,” said Mr. Carapezzi. “They have the financial, M&A and operational tools we need to reach the next level.”United Site Services has completed several acquisitions over the past 18 months. Mr. Carapezzi said the company is well positioned for continued growth and he expects M&A efforts will only accelerate under Platinum Equity’s ownership.“We look forward to partnering with the USS management team to drive continued growth and help maximize performance throughout the business,” said Platinum Equity Partner Louis Samson.“We will continue pursuing opportunities to acquire portable sanitation and related services companies in key markets while leveraging Platinum’s operational expertise to improve our customer value proposition, enhance our operating effectiveness and increase our profitability,” said Mr. Carapezzi.About Platinum EquityFounded in 1995 by Tom Gores, Platinum Equity (www.platinumequity.com) is a global investment firm with $13 billion of assets under management and a portfolio of approximately 30 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 22 years Platinum Equity has completed 200 acquisitions.About United Site ServicesUnited Site Services provides a positive personal experience in a temporary environment. As the nation’s leader in the industry, United Site Services has more than 80 locations coast to coast providing quality portable restroom rentals and temporary fence rentals. Delivering on customer service first, United Site Services has expansive national reach with local roots to the communities it serves. To learn more about United Site Services, visit www.unitedsiteservices.com.

Investor Relations and Media Contacts:Mark Barnhill Partner +1 310.228.9514 E-mail MarkDan Whelan Principal +1 310.282.9202 E-mail Dan

• United Site Services •

-- PLATINUM EQUITY ACQUIRES UNITED SITE SERVICES --PRESS RELEASE

PLATINUM EQUITY COMPLETES ACQUISITION OF UNITED SITE SERVICES

PROPERTY INFORMATIONUNITED SITE SERVICES



EXECUTIVE SUMMARY TENANT OVERVIEW PROPERTY INFORMATION AREA OVERVIEW


-- PROPERTY LAYOUT --

Offi

ce A

rea

Warehouse Area

Entry Gate

Entry Gate

AerialsSite PlanLocation Maps Property Photos• Property Layout •

Expansion Space



-- LOCATION MAPS --

Gulf of Mexico

TO MIAMI34 MILES

FLORIDA KEYS OUTLET MARKETPLACE

• Location Maps •

MIAMI

997

NW 8TH ST

VERO BEACH

111 MILES

ORLANDO

CAPE CORAL

HOMESTEAD

27

SARASOTA

WEST PALM BEACH

KISSIMMEE

NAPLES

TAMPA

ST PETERSBURG

41

27

4141

1

27FORT LAUDERDALE

HOMESTEAD

REDLAND1

HOMESTEADSPORTS COMPLEX

HOMESTEAD MIAMISPEEDWAY

HOMESTEADAIR RESERVE BASE

LEISURE CITY

FLORIDA CITY

64 MILES

Atlantic Ocean

158 MILES

17

FORT MYERS

34 MILES

1

1

NW

10T

H S

T

CAMPBELL DR

TALL

AH

ASS

EE R

D

TO FLORIDA KEYS36 MILES

997

FLORIDA CITYCAMP SITE &

RV PARK

HOMESTEAD PLAZA

HOMESTEAD TOWNE SQUARE

NARANJA

NARANJALAKES

AerialsSite Plan Property PhotosProperty Layout



-- LOCATION MAPS --

790 NW 10th Ave - Homestead, Florida Miami

Homestead

FortLauderdale

Florida Keys

• Location Maps • AerialsSite Plan Property PhotosProperty Layout



-- SITE PLAN --

• Site Plan •Location Maps AerialsProperty PhotosProperty Layout



-- PROPERTY PHOTOS --

• Property Photos •Location Maps AerialsProperty Layout Site Plan











-- OVERHEAD VIEW -- NW 8TH ST (10,300 CPD)

NW

10TH A

VE

NW 7TH ST

Property PhotosLocation Maps • Aerials •Property Layout Site Plan



-- LOOKING NORTHWEST --

• CLARI TREE FARM• CARRIBBEAN TREE FARM

GREEN LEAF NURSERY

NW 8TH ST (10,300 CPD)

NW 10TH AVE

NW 7TH ST

A SUPERIOR NURSERYALMOND TREE NURSERY

FLORA’S FIELDS & NURSERY

PINE RIDGE ORCHIDSBAYSIDE TREE FARMSUNITED NURSERY• LATOYA FARM

• COPPER’S NURSERY

YESSICA NURSERY

PROFESSIONAL AUTO & MARINE

CORAL ROCK VILLAGE (LODGING)

TINY KINGDOMLEARNING CENTER

NW 10TH AVE

NW 9TH AVE




-- LOOKING NORTHEAST --


NW 10TH AVE

NW 7TH ST

NW 10TH AVENW 9TH AVE


HOMESTEADMIDDLE SCHOOL


HOMESTEAD PLAZA

HOMESTEAD AIR RESERVE BASE

N KROME AVE

N KROME AVE

HOMESTEAD HOSPITAL

THE VINEYARDS

RONALD REAGAN TURNPIKE

MIAMI34 MILES

HOMESTEAD TOWNE SQUARE

1

11

N HOMESTEAD BLVD

HOMESTEAD VA COMMUNITY OUTREACH

MEDICAL ACADEMY FOR SCIENCE & TECHNOLOGY-

(MAST@HOMESTEAD)MIAMI DADE COLLEGEHOMESTEAD CAMPUS

CAMPBELL DR

HOMESTEAD PAVILION

WATERSTONE GRAND & WATERSTONE II

LEISURE CITYNARANJA




-- LOOKING SOUTHEAST --


NW 7TH STNW 10TH AVE


NW 9TH AVE

NW 10TH AVENW 8TH ST

HOMESTEADMIDDLE SCHOOL

HAMKERENTERPRISES

HEIGHTS ROOFING

ONE STOP TRUCK & TRAILER PARTS

SAM ACCURSIO FARMS & WELL

SMOKE &SPICE

PHICOL WILLIAMSCOMMUNITY CTR

TRINITY CHURCH FLAMINGOAUTO

CITY OF HOMESTEADROBY GEORGE POOL

CHI MARTIN LUTHER KING JR. URGENT CARE

HOMESTEAD CODE COMPLIANCE DEPT

SEMINOLE PERFORMING ARTS THEATERCITY OF HOMESTEAD

GOVERNMENT CTRMIAMI DADE COLLEGEHOMESTEAD CAMPUS

FLORIDA KEYS OUTLETS

SOMERSET ACADEMY SOUTH HIGH SCHOOL

RONALD REAGAN TURNPIKE RONALD REAGAN TURNPIKEKEYS GATE GOLF &

COUNTRY CLUB

HOMESTEAD FLORIDA CITY




-- LOOKING SOUTHWEST --

EVERGLADESNATIONAL PARK


NW 10TH AVE

SW 187TH AVE

SW 187TH AVE

NW 7TH ST

ONE STOP TRUCK & TRAILER PARTS

SAM ACCURSIO FARMS & WELL

SMOKE & SPICE

CORAL GARDENSAPARTMENTS

CROP PRODUCTIONSERVICES

TROPICAL CUTSIRRIGATION

MEXICO SUPERMARKET WAREHOUSE

RIVIERA GRANDESTATESHOMESTEAD TRANSFER

& STORAGE


AREA OVERVIEWUNITED SITE SERVICES






-- HOMESTEAD OVERVIEW --

• Homestead Overview • Demographics

Homestead is a city within Miami-Dade County in southern Florida. The city is located near the southern terminus of the Homestead Extension of Florida’s Turnpike where it ends at its junction with U.S. 1, immediately north and east of Florida City. Homestead is primarily a Miami suburb and is a principal city within the Miami Metropolitan Area, the second-most populous in the southeastern United States and the seventh-largest metro in the nation,

with an estimated 2018 population of 6.1 million residents. Found just 34 miles south of Miami, Homestead offers visitors a small-town atmosphere with the amenities of a big city. Homestead is located between two national parks - Everglades National Park ten miles west of Homestead is home to vast mangrove forests and watery sawgrass plains; and Biscayne National Park to the east encompasses the bay, barrier islands and coral reefs. And, just south of the city, are the Florida Keys, with an abundance of recreational activities.SOUTH MIAMI-DADE COUNTY ECONOMY: COMMERCE & TRADE, AGRICULTURE, TOURISM TOP DRIVERSThe area’s strategic location makes it a viable destination for visitors. Tropical South Florida’s warm sunny winters bring in millions of visitors every year. With the sprawling expanse of the Everglades to the west, the pristine Biscayne National Park to the east, the glitz and glamour of Miami to the north and the Florida Keys to the south, the greater Homestead/ Florida City area plays host to many visitors, some who decide they want to make this their permanent home. The business generated by tourism to the tropical South is a key factor in the economic stability and growth of the community. The area has attracted enterprises such as the Homestead Miami Speedway, Wal-Mart, Sedano’s, Home Depot, Office Depot and many more. There are lucrative incentives for businesses that locate in the Enterprise and Empowerment zones, in which a portion of the greater Homestead and Florida City area lie. There is talk of a water-theme park coming to the area and the Southend Industrial Park development of the property adjacent to the Homestead Air Reserve Base is seen as a contributing factor in the economic health of south Miami-Dade County. Agriculture is still a great source of revenue and serves as a mainstay of the economy. Nearly half of the winter vegetables consumed in the United States are grown in tropical South Florida. Miami-Dade County’s agriculture, which represents nearly $1 billion annually in local economic impact, is located on just six percent of the county’s available land.Besides providing national and international markets with tropical produce and plants, the agricultural industry also contributes to the revenue generated by tourism. Scattered throughout the region are agricultural fields that allow self-harvesting of vegetables. Many roadside stands offer crops that are specific to the tropical climate including mango, avocado, lychee and carambola. Agricultural-guided tours expose visitors to the industry in what is the only subtropical farming area in the continental United States. U-pick stands are often a destination of local and regional visitors.

Miami Overview

HOMESTEAD-MIAMI SPEEDWAY • GENERATES OVER $301 MILLIION ANNUALLY • CELEBRATING 25 YEARSHomestead-Miami Speedway has been open since 1995 following an initiative to spur economic recovery in the aftermath of Hurricane Andrew. The Speedway, which was founded by Miami businessman, racing enthusiast and philanthropist Ralph Sanchez, is a 650-acre facility that features a 1.5-mile oval and 2.21-mile road course. The Speedway hosts on-track events nearly 300 days per year and generates more than $301 million annually for the region. In 2018, NASCAR crowned champions in all three of its national series at Homestead-Miami Speedway during Ford Championship Weekend for the 17th consecutive year (2002-18). Champions crowned at Homestead-Miami Speedway in 2018 were Joey Logano (Monster Energy NASCAR Cup Series), Tyler Reddick (NASCAR XFINITY Series) and Brett Moffitt (NASCAR Gander Outdoors Truck Series). 2019 Ford Championship Weekend will be held November 15-17. In 2020, the Speedway will commemorate its 25th anniversary as it hosts NASCAR’s three national series in the spring.

EVERGLADES NATIONAL PARK

HOMESTEAD-MIAMI SPEEDWAY

Industrial Submarket Overview




-- HOMESTEAD INDUSTRIAL SUBMARKET --

• Industrial Submarket Overview •

-- MIAMI MSA INDUSTRIAL SUBMARKET --

DemographicsMiami OverviewHomestead Overview

CURRENT CONDITIONSMiami’s industrial market consists of almost 220 million square feet of space and is one with incredibly strong fundamentals. The market has experienced sustained low vacancy rates near 3% for each of the least three years. The impressive demand has been driven by both the local economy as well as rising trade through Miami International Airport, now the country’s largest international cargo airport, and PortMiami. The strong demand, together with limited new industrial supply, provide solid support for the market. Consequently, strong fundamentals are attracting a large number of investors to the market.

CONSTRUCTION ACTIVITYCompletions over the last five years exceeded 11 million square feet and were well below net absorption totals over the same period. Strong demand ensured that completions were absorbed at a brisk rate, while at the same time vacancy remained low and asking rents increased by more than 20%. Developers are very confident in the prospects for the local market and are expected to deliver over 3 million quare feet of new buildings in 2020.

OUTLOOKMiami’s robust population growth and gateway market presence will drive trade and support strengthening industrial market fundamentals. Available developable land will only diminish as Miami is enveloped on a narrow stretch of land between the Everglades and the Atlantic Ocean. The rise of e-commerce and omni channel retail, and the growth of last mile logistics will provide further support for Miami’s industrial real estate.

South Florida’s Homestead submarket is seeing a rise in Class A industrial development as demand for product continues to increase. The region has seen tremendous growth in population, commerce and infrastructure development and is located in an advantageous distribution point to service both Southern Miami-Dade County and the Florida Keys.

New industrial supply has been limited in this submarket over the past ten years. Over the last decade, Homestead has had significant housing development and the population is expected to grow 7.7% by 2023. This growth has spurred new businesses and infrastructure developments in the area and is feeding a strong demand for more distribution in the region.

Several large developments are already underway in Homestead, including the Southend Industrial Park at the Homestead Park of Commerce. The 117 acre planned site has zoning and entitlements allowing development of over 1.3 million square feet of industrial space, with multiple Class A buildings already delivered. The project has leased to PepsiCo/Frito Lay as well as Goodman Distribution, a manufacturer of air conditioning and heating systems. FedEx has also recently moved into the area with a 15-year net lease at a brand new 237,756 square foot distribution facility located on a 48.9 acre site near the Air Reserve Base. In addition, Julio Gimenez, a son of Mayor Carlos Gimenez and a longtime construction executive, is pursuing 124 acres to build a $240 million eco-friendly steel mill in Homestead. This is the only market in our region that can accommodate a new project of this scale.

With less vacant land available for large-scale industrial developments in other South Florida submarkets, Homestead is offering a new opportunity for many developers to relieve the tight industrial demand.




Miami is the county seat of Miami-Dade County, and the cultural, economic and financial center of South Florida. Situated between the Everglades to the west and Biscayne Bay to the east, Miami is the sixth most densely populated city in the United States, with an estimated 2018 population of 470,914. It is the center of the Miami metropolitan area, and is home to 6.1 million people, making it the second-most populous in the southeastern United States and the seventh-largest metro in the nation. Miami is a major center and leader in finance, commerce, culture, media, entertainment, the arts, and international trade. The metro area is by far the largest urban economy in Florida and

the 12th largest in the United States, with a GDP of $344.9 billion as of 2017. In 2018, Miami was classified as an Alpha level global city by the GaWC. In 2019, Miami ranked seventh in the United States and 31st among global cities in terms of business activity, human capital, information exchange, cultural experience, and political engagement. According to a 2018 UBS study of 77 world cities, the city was ranked as the third-richest in the United States and the eighth-richest in the world in terms of purchasing power. Miami is nicknamed the “Capital of Latin America” and is the largest city with a Cuban-American plurality.

PORTMIAMI: ONE OF THE LARGEST PORTS IN THE UNITED STATES • LARGEST CRUISE SHIP PORT IN THE WORLD

Miami is home to one of the largest ports in the United States, the PortMiami. It is the largest cruise ship port in the world, and has the world’s largest amount of cruise line headquarters, home to Carnival Cruise Line, Celebrity Cruises, Norwegian Cruise Line, Oceania Cruises, and Royal Caribbean International.often called the “Cruise Capital of the World” and the “Cargo Gateway of the Americas”. It has retained its status as the number one cruise/passenger port in the world for well over a decade, accommodating the largest cruise ships and the major cruise lines. In 2017, the port served 5,340,559 cruise passengers.

-- MIAMI OVERVIEW --

WORLD FAMOUS VACATION DESTINATION • ARTS, MUSIC, FASHION & SPORTS PART OF $26 BILLION INDUSTRYMiami is one of the state’s – and the world’s – most popular vacation spots. Tourism is one of the Miami’s largest private-sector industries, accounting for more than 144,800 jobs in Miami-Dade County. The city’s frequent portrayal in music, film, and popular culture has made the city and its landmarks recognizable worldwide. In 2016, it attracted the second-highest number of foreign tourists of any city in the United States, after New York City, and is among the top 20 cities worldwide by international visitor spending. More than 15.9 million visitors arrived in Miami in 2017, adding $26.1 billion to the economy. With a large hotel infrastructure and the newly renovated Miami Beach Convention Center, Miami is a popular destination for annual conventions and conferences.Some of the most popular tourist destinations in Miami include South Beach, Lincoln Road, Bayside Marketplace and Downtown Miami. The Art Deco District in Miami Beach is reputed as one of the most glamorous in the world for its nightclubs, beaches, historical buildings, and shopping. Annual events such as the Miami Open, Art Basel, the Winter Music Conference, the South Beach Wine and Food Festival, and Mercedes-Benz Fashion Week Miami attract millions to the city every year.Sports enthusiasts flock to the city year round to watch Miami’s main four sports teams: the Miami Dolphins of the National Football League, the Miami Heat of the National Basketball Association, the Miami Marlins of Major League Baseball, and the Florida Panthers of the National Hockey League. Starting 2020, the city will be home to Inter Miami CF of the Major League Soccer, led by David Beckham, Simon Fuller, and Marcelo Claure. The Miami Open, an annual tennis tournament, was moved to the Hard Rock Stadium after the tournament was purchased by Miami Dolphins owner Stephen Ross in 2019. The city is home to numerous greyhound racing tracks, marinas, jai alai venues, and golf courses. The city streets have hosted professional auto races in the past, most notably the open-wheel Grand Prix of Miami and the sports car Grand Prix of Miami. The Homestead-Miami Speedway oval hosts NASCAR races.

• Miami Overview • DemographicsHomestead Overview Industrial Submarket Overview




-- DEMOGRAPHICS --

• Demographics •

SUMMARY PROFILE2000-2010 Census, 2019 Estimates with 2024 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 25.4766/-80.4901

790 NW 10th Ave1 mi radius 3 mi radius 5 mi radius

Homestead, FL 33030

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2019 Estimated Population 0 T 18,644 72,744 137,203

2024 Projected Population 0 T 19,251 75,584 144,507

2010 Census Population 0 T 17,797 67,437 117,489


Projected Annual Growth 2019 to 2024 - 0.7% 0.8% 1.1%

Historical Annual Growth 2000 to 2019 - 1.1% 2.0% 3.7%

2019 Median Age 29.4 31.6 31.9

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2019 Estimated Households 0 T 5,046 22,065 41,171

2024 Projected Households 0 T 5,232 23,038 43,530

2010 Census Households 0 T 4,871 20,646 35,494




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2019 Estimated White - 66.3% 66.8% 68.5%

2019 Estimated Black or African American - 17.7% 21.2% 19.7%

2019 Estimated Asian or Pacific Islander - 1.1% 1.7% 2.2%

2019 Estimated American Indian or Native Alaskan - 0.7% 0.4% 0.4%

2019 Estimated Other Races - 14.2% 10.0% 9.3%

2019 Estimated Hispanic - 69.1% 63.4% 65.3%

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E 2019 Estimated Average Household Income $0 T $43,217 $49,996 $54,540

2019 Estimated Median Household Income $0 T $40,442 $47,846 $51,318

2019 Estimated Per Capita Income $0 T $11,814 $15,219 $16,488E

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2019 Estimated Elementary (Grade Level 0 to 8) - 30.4% 20.4% 16.0%

2019 Estimated Some High School (Grade Level 9 to 11) - 12.3% 13.1% 11.6%

2019 Estimated High School Graduate - 27.3% 28.6% 28.1%

2019 Estimated Some College - 14.8% 16.2% 17.3%

2019 Estimated Associates Degree Only - 5.6% 7.5% 8.6%

2019 Estimated Bachelors Degree Only - 6.4% 9.8% 12.3%

2019 Estimated Graduate Degree - 3.3% 4.3% 6.0%

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S 2019 Estimated Total Businesses 0 T 754 2,759 3,937

2019 Estimated Total Employees 0 T 6,275 23,537 32,303

2019 Estimated Employee Population per Business - 8.3 8.5 8.2

2019 Estimated Residential Population per Business - 24.7 26.4 34.8

©2019, Sites USA, Chandler, Arizona, 480-491-1112 page 1 of 1 Demographic Source: Applied Geographic Solutions 4/2019, TIGER Geography

1 Mile 3 Miles 5 Miles

SUMMARY PROFILE2000-2010 Census, 2019 Estimates with 2024 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 25.4766/-80.4901

790 NW 10th Ave1 mi radius 3 mi radius 5 mi radius

Homestead, FL 33030

PO

PU

LATI

ON

2019 Estimated Population 0 T 18,644 72,744 137,203

2024 Projected Population 0 T 19,251 75,584 144,507





2019 Median Age 29.4 31.6 31.9

HO

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EH

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2019 Estimated Households 0 T 5,046 22,065 41,171

2024 Projected Households 0 T 5,232 23,038 43,530





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2019 Estimated White - 66.3% 66.8% 68.5%

2019 Estimated Black or African American - 17.7% 21.2% 19.7%

2019 Estimated Asian or Pacific Islander - 1.1% 1.7% 2.2%

2019 Estimated American Indian or Native Alaskan - 0.7% 0.4% 0.4%

2019 Estimated Other Races - 14.2% 10.0% 9.3%

2019 Estimated Hispanic - 69.1% 63.4% 65.3%

INC

OM

E 2019 Estimated Average Household Income $0 T $43,217 $49,996 $54,540

2019 Estimated Median Household Income $0 T $40,442 $47,846 $51,318

2019 Estimated Per Capita Income $0 T $11,814 $15,219 $16,488

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E 2

5+)

2019 Estimated Elementary (Grade Level 0 to 8) - 30.4% 20.4% 16.0%

2019 Estimated Some High School (Grade Level 9 to 11) - 12.3% 13.1% 11.6%

2019 Estimated High School Graduate - 27.3% 28.6% 28.1%

2019 Estimated Some College - 14.8% 16.2% 17.3%

2019 Estimated Associates Degree Only - 5.6% 7.5% 8.6%

2019 Estimated Bachelors Degree Only - 6.4% 9.8% 12.3%

2019 Estimated Graduate Degree - 3.3% 4.3% 6.0%B

US

INE

SS 2019 Estimated Total Businesses 0 T 754 2,759 3,937

2019 Estimated Total Employees 0 T 6,275 23,537 32,303

2019 Estimated Employee Population per Business - 8.3 8.5 8.2

2019 Estimated Residential Population per Business - 24.7 26.4 34.8

©2019, Sites USA, Chandler, Arizona, 480-491-1112 page 1 of 1 Demographic Source: Applied Geographic Solutions 4/2019, TIGER Geography

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• There are 536,658 people within a 15-mile radius of Homestead.

• Homestead’s population is expected to grow 7.7% by 2023

• Homestead is located within the Miami Metropolitan Area, the the second-most populous in the southeastern United States and the seventh-largest metro in the nation, with an estimated 2018 population of 6.1 million residents.

• The median age in the Homestead area in 2017 was 30.9, which is well below Florida’s median age of 42 and the US median age of 37.4.

• The Median Household Income in Homestead in 2017 was $43,150, which was approximately 6.67% higher than the previous year.

• The largest industries in Homestead are Retail Trade, Health Care & Social Assistance, and Construction. The highest paying industries are Public Administration ($57,593), Utilities ($52,500), and Transportation & Warehousing ($50,603).

• In 2018, the total labor force within a 15-mile radius of Homestead totaled 242,390 workers, of which 145,433 were white collar and 47,267 were blue collar workers.

• The median property value in Homestead in 2017 was $166,700, reflecting an 18% increase from the year prior.

• Homestead has a homeownership rate of 39.2%, which is lower than the national average of 63.9%.

• There are approximately 18,500 households in Homestead, FL.

ECONOMY SNAPSHOT

HOUSING SNAPSHOT

POPULATION SNAPSHOT

Homestead Overview Industrial Submarket Overview Miami Overview

Lee & Associates hereby advises all prospective purchasers of Net-Leased Invesment property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Lee & Associates has not and will not verify any of this information, nor has Lee & Associates conducted any investigation regarding these matters. Lee & Associates makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of an investment property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase.This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Lee & Associates expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of an investment property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any investment property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Lee & Associates and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this investment property.

No warranty or representation is made as to the accuracy of the foregoing information. Terms of sale, lease, and availability are subject to change or withdrawal without notice.

BARR&BENNETTNETLEASEDINVESTMENTS

A Lee & Associates Team

RYAN BARRPrincipal

[email protected]

RYAN BENNETTPrincipal

[email protected]

INDUSTRIAL SPECIALIST

GREG PIERATTPrincipal

[email protected]

CAPITAL MARKET EXPERTS


BROKER OF RECORD: South Investment Property, LLC dba Lee & Associates South Florida

FL Broker’s Lic# BK3088290

Documents

HOMESTEAD, FL - LoopNet · investment opportunity homestead, fl (miami msa) actual property. offered at: $2,098,000 | 6.25% cap (6.80% avg cap over term) united site services