TD Bank NNNissenbergbritti.com/.../PDF/...falls-fl-om-package.pdf · Offering MeMOranduM 20-Year Corporate Triple-Net (NNN) Ground Lease. ... this marketing package. The presence

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TD Bank NNN14395 S Dixie Hwy, Miami, FL 33176

20-Year Corporate Triple-Net (NNN) Ground LeaseOffering MeMOranduM

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CON F I DE N T I A L I T Y A N D DI S C L A I M E R

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

NON-ENDORSEMENT NOTICE

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.

N E T L E A S E DI S C L A I M E R

Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

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

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

As the Buyer of a net leased 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. Marcus & Millichap 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 a net leased 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 net leased 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.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 Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

L ISTED By:

GABRIEL BRITTI Vice President Investments Senior Director, National Retail GroupMIAMI OFFICEOffice: (786) [email protected]

RONALD ISSENBERG Vice President Investments Senior Director, National Retail GroupMIAMI OFFICEOffice: (786) [email protected]

Table of Contents

ExECuTIVE SuMMARy........................................................7 FINANCIAL ANALySIS......................................................... 9-10

PROPERTy DESCRIPTION...................................................11-14 DEMOGRAPHIC ANALySIS..................................................15-16 MARkET OVERVIEW...........................................................17-18

TD Bank - Miami, FL

ExECuTIvE SuMMARY

7

eXeCUt ive sUMMarY

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 Marcus & Millichap

INvESTMENT OvERvIEw

Marcus & Millichap is proud to present for sale the fee interest

in a TD Bank Ground Lease, located in Pinecrest (Miami), Florida.

TD Bank has signed a brand new 20-year ground lease which

includes four (4) five (5) year options and ten percent (10%) rental

escalations every five years throughout the base terms and option

periods. The site is situated in affluent part of Miami with average

household income exceeding $115,000 in a one mile radius. TD

Bank is one of the 10 largest banks in the US, serving more than

8 million customers, with 26,000 employees in 1,300 convenient

locations throughout the Northeast, Mid-Atlantic, Metro D.C., the

Carolinas and Florida. .

Investment Highlights

■■ absolute triple net tD Bank Ground Lease

■■ traffic Counts exceed 92,000 vehicles per Day

■■ Located next to “the Falls” an Upscale open-air shopping Mall with over 100 stores

■■ Zero Landlord responsibility

■■ Brand new Construction Branch

■■ average household income exceeds $115,000 in a one Mile radius

TD Bank - Miami, FL


pr iC inG anD F inanC iaL anaLYs is

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rent inCreases MonthLY rent annUaL rent

year 1- 5 $375,000.00 $31,250.00

year 6 - 10 $412,500.00 $34,375.00

year 11 - 15 $453,750.00 $37,812.50

year 16 - 20 $499,125.00 $41,593.75

Option 1 $549,037.50 $45,753.13

Option 2 $603,941.25 $50,328.44

Option 3 $664,335.38 $55,361.28

Option 4 $730,768.92 $60,897.41

Base Rent ($126.52 SF) $375,000

Net Operating Income $375,000

Total Anual Return 4.00% / $375,000

ANNUALIZED OPERATING DATAList Price $9,375,000

Down Payment 100% / $9,375,000

Cap Rate 4.00%

Rentable Square Feet 2,964 SF

Lot Size 31,014 SF

Price/SF (GLA) $3,162.96

year Built / Renovated (Branding / Image Activation) 2016

Type of Ownership Leased Fee / Ground Lease

TD Bank 14395 S Dixie Hwy Miami, FL 33176

PROPERTY RENT DATA

TD Bank - Miami, FL

9This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 Marcus & Millichap

TENANT LEASE ABSTRACT

Tenant Trade Name TD Bank

Tenant Corporate Store

Ownership Public

Guarantor Corporate Guarantee

Lease Type Absolute Net

Lease Term 20 years

Lease Commencement Date April 1st, 2015

Rent Commencement Date September 1st 2016

Expiration Date of Base Term September 1st, 2036

Roof & Structure Maintenance Tenant Responsible

Increases 10% Every Five years (Including

Options Four (5) Five year Options

Term Remaining on Lease 20 years

Property Type Net Leased Bank

pr iC inG anD F inanC iaL anaLYs is TD Bank - Miami, FL


propertY DesCription | reGionaL Map TD Bank - Miami, FL

SuBjECT PROPERTy


propertY DesCription | Zip area aeriaL TD Bank - Miami, FL


propertY DesCription | LoCaL aeriaL TD Bank - Miami, FL


propertY DesCription | LoCaL aeriaL TD Bank - Miami, FL

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Tenant Overview

propertY DesCription - tenant overview TD Bank - Miami, FL


ABOuT TD BANk

TD Bank, America’s Most Convenient Bank®, is one of the 10 largest banks in the U.S., with more than 26,000 employees and deep roots in the community, dating back more than 150 years. . TD Bank offers a broad array of retail, small business and commercial banking products and services to more than 8 million Customers through our extensive network of approximately 1,300 retail Stores throughout the Northeast, Mid- Atlantic, Metro D.C., the Carolinas and Florida. In addition to banking products, TD Bank and its subsidiaries provide clients with customized private banking and wealth management services through TD Wealth® and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is a member of TD Bank Group and a subsidiary of The Toronto- Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD.”

Name TD Bank

Credit Rating AA-

Rating Agency Standard & Poor’s

Customers 8 Million +

HQ Toronto, ON, Canada

Number of Locations 1,300+

Web Site www.td.com


DeMoGraph iC anaLYs is - DeMoGraph iC Deta iLs TD Bank - Miami, FL

INCOME 1-MILE 3-MILES 5-MILES

$0 - $ 14,999 8.3% 9.2% 11.8%

$15,000 - $24,999 9.3% 7.8% 9.4%

$25,000 - $34,999 7.3% 7.3% 8.7%

$35,000 - $49,999 12.8% 10.4% 12.5%

$50,000 - $74,999 13.6% 14.5% 16.9%

$75,000 - $99,999 11.0% 12.8% 12.6%

$100,000 - $124,999 9.9% 10.7% 8.9%

$125,000 - $149,999 7.3% 7.3% 5.7%

$150,000 - $200,000 7.2% 8.5% 5.9%

$200,000 to $249,999 5.3% 4.4% 2.8%

$250,000 + 8.0% 7.1% 4.9%

2014 Median HH Income $71,529 $76,687 $59,500

2014 Per Capita Income $44,212 $37,509 $32,355

2014 Average HH Income $115,699 $113,444 $92,002

HOUSEHOLDS 1-MILE 3-MILES 5-MILES

2000 Households 3,780 30,506 86,385

2010 Households 4,031 30,233 91,099

2014 Households 4,228 31,784 96,239

2019 Households 4,265 32,273 100,169

2014 Average HH Size 2.64 3.02 2.83

2014 Daytime Population 8,199 29,957 120,412

2000 Owner Occupied Housing units 67.24% 78.90% 68.12%

2000 Renter Occupied Housing units 28.80% 18.08% 28.05%

2000 Vacant 3.97% 3.02% 3.83%



2014 Vacant 4.47% 1.77% 2.88%



POPULATION 1-MILE 3-MILES 5-MILES

2000 Population 10,403 93,749 250,042

2010 Population 10,598 91,938 261,188

2014 Population 11,072 96,293 274,784

2019 Population 11,069 97,433 284,678

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DeMoGrAPhIC DATA © 2012 BY exPerIAN.

5 Mile

3 Mile

1 Mile

16

DeMoGraph iC anaLYs is

Demographic Summary


TD Bank - Miami, FL

Race and Ethnicity The current year racial makeup of your selected area is as follows: 77.84% White, 13.57% Black, 0.04% Native American and 3.35% Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 54.02% of the current year population in your selected area. Compare this to the Entire US average of 17.13%.

Housing In 2000, there were 61,191 owner occupied housing units in your area and there were 25,193 renter occupied housing units in your area. The median rent at the time was $668. Employment

In 2014, there are 120,411 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 72.74% of employees are employed in white-collar occupations in this geography, and 27.20% are employed in blue-collar occupations. In 2014, unemployment in this area is 6.48%. In 2000, the average time traveled to work was 34.6 minutes.

PopulationIn 2014, the population in your selected geography is 274,783. The population has changed by 9.89% since 2000. It is estimated that the population in your area will be 284,678 five years from now, which represents a change of 3.60% from the current year. The current population is 47.88% male and 52.11% female. The median age of the population in your area is 40.1, compare this to theEntire US average which is 37.3. The population density in your area is 3,504.06 people per square mile.

Households There are currently 96,238 households in your selected geography. The number of households has changed by 11.40% since 2000. It is estimated that the number of households in your area will be 100,168 five years from now, which represents a change of 4.08% from the current year. The average household size in your area is 2.83 persons.

IncomeIn 2014, the median household income for your selected geography is $59,499, compare this to the Entire US average which is currently $51,972. The median household income for your area has changed by 14.88% since 2000. It is estimated that the median household income in your area will be $68,209 five years from now, which represents a change of 14.63% from the current year.

The current year per capita income in your area is $32,355, compare this to the Entire US average, which is $28,599. The current year average household income in your area is $92,001, compare this to the Entire US average which is $74,533.

Geography: 5 Miles

MARkET HIGHLIGHTS ExCELLENT BUSINESS CLIMATE ► There are no local business or personal income taxesin Miami-Dade.

INTERNATIONAL CONNECTION► Miami is a gateway for international trade andimmigration.

ExPANDING HEALTHCARE INDUSTRY

►The county contains the largest concentration ofmedical facilities in Florida.

MIAMI, FLORIDADEMOGRApHIC ANALYSIS Aldi Supermarket , Brooksville FL


Market overv iew TD Bank - Miami, FL

* Forecast Sources: Marcus & Millichap Research Services, BLS, Moody’s Analytics

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Market overv iew


TD Bank - Miami, FL

EconomyThe Miami economy relies heavily on tourism and the county’s standing as the gateway to Lat-in America and the Caribbean. Tourism, trade, international finance, healthcare and entertainment have become major industries in the local business community. . Tourism and trade depend on a large transportation sector, with PortMiami and Miami Interna-tional Airport both major contributors to employment and the economy. With its ties to Latin Amer-ica and the Caribbean, Miami has attracted a community of businesses dealing with these regions. More than a thousand multinational corporations conduct business in Florida, and Miami has one of the largest concentrations of domestic and international banks on the East Coast after New York City. Miami has a number of medical facilities, such as Jackson Memorial Hospital and the Universi-ty of Miami Hospital, which serve patients from the United States, the Caribbean and Latin America. Although the Miami gross metropolitan product (GMP) expansion lags the U.S. GDP, economic growth and retail sales for the county are rising. These gains will be bolstered by increased levels of tourism within the metro.

* Forecast Sources: Marcus & Millichap Research Services, BLS, Moody’s Analytics

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aDDit ionaL Deta iLs


TD Bank - Miami, FL

representative photo

L ISTED By:

GABRIEL BRITTI Vice President Investments Senior Director, National Retail GroupMIAMI OFFICEOffice: (786) [email protected]

RONALD ISSENBERG Vice President Investments Senior Director, National Retail GroupMIAMI OFFICEOffice: (786) [email protected]

Documents

TD Bank NNNissenbergbritti.com/.../PDF/...falls-fl-om-package.pdf · Offering MeMOranduM 20-Year Corporate Triple-Net (NNN) Ground Lease. ... this marketing package. The presence