4740 s. cleveland · a fortune 500, with 2,000 employees. overall, chico’s employs 16,200 (70%...

4740 S. CLEVELAND Fort Myers, FL33907

PRIME INVESTMENT FULLY LEASED

RYAN LEFFLERDIRECTOR, OFFICE & HEALTHCARE [email protected]

RYAN LEFFLER

DISCLAIMER AND NOTICE TO BUYER

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.

This publication is the copyrighted property of Colliers International and/or its licensor(s).

©2016. All rights reserved.

CONFIDENTIALITY STATEMENT

The following information is furnished solely for the purpose of a review by a prospective purchaser of the property and is not to be used for any other purpose or made available to any other person without the prior written consent of Colliers International Southwest Florida. This property profile and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this profile may be copied or otherwise reproduced or disclosed without the prior written authorization of Colliers International Southwest Florida.

Colliers InternationalExclusive AgentRYAN LEFFLERDirector | OFFICE & HEALTHCARE SERVICESDIRECT 239 985 8078MOBILE 239 910 [email protected]

www.colliers.com/ryan.leffler

SUJIN PAK, CPMCClient Services CoordinatorDIRECT 239 980 [email protected]

JOANN GREENLEE, CPMC, CPRCClient Services [email protected]

4740 S. CLEVELAND AVENUE | FORT MYERS, FL COLLIERS INTERNATIONAL P. 4

T A B L E O F C O N T E N T S

Executive Summary

Lease Abstract & Schedule

Location Overview

Property Overview

Market Overview

4740 S. CLEVELAND Fort Myers, FL33907

EXECUTIVE SUMMARY

COLLIERS INTERNATIONAL P. 64740 S. CLEVELAND AVENUE | FORT MYERS, FL

EXECUTIVE SUMMARY

4740 S. Cleveland AvenueOVERVIEWColliers International Southwest Florida has been retained on an exclusive basis to arrange the Sale of 4740 South Cleveland Avenue, a 100% leased, 65,190 square foot building with two parcels situated on 7.56 acres. This property was built in 1981 and renovated in 2012 with $1.5 million in capital improvements. Additional renovations in 2016 included a new roof, paint and playground equipment. The reinforced concrete structure directly fronts South Cleveland Avenue (US 41), boasting one of the highest traffic volumes in Southwest Florida. The property is located directly across the street from Page Field Airport, providing easy access for executives and visitors alike. The property offers unparalleled horizontal and vertical expansion opportunities for an Investor or User.

IRREPLACEABLE LOCATIONThe high visibility location is situated in a prime, centralized location, with superior access to both Cape Coral and Lehigh Acres. The highway and airport access provides a rare development opportunity for an Investor/User in a prime, high growth Southwest Florida market.

INVESTMENT MERITS• 100% leased to stable, long-term tenant with ten years remaining lease term• Potential to increase building floors and ceiling heights• Recently renovated in 2016; new roof, new paint, new playground equipment• Abundant parking• Highway frontage boasts exceptional average daily traffic count at 51,500 vehicles• Directly across from Page Field Airport• Located on mass transportation LeeTran bus route• Surrounded by abundant national and local retailers, lodging and services


LEASE ABSTRACTLEASE ABSTRACT

LeaseeUnity Charter School of Fort Myers

a Florida Non Profit Corporation and Public Charter School

Site Address 4740 South Cleveland Avenue, Fort Myers, FL 33907

Building Size 65,190 Square Feet

Commencement Date July 1, 2016

Lease Term Ten (10) Years commencing July 1, 2016

Renewal Terms Two 5-Year Terms

Rental Terms Five and 00/100 Dollars ($5.00) SF “Triple Net”

Deposit Seventy-Five Thousand ($75,000.00) Dollars

Improvements $1.61 Million in Capital Improvements for Tenant Requirements

Renewal Options

Tenant shall have the option to renew this Lease for two (2) renewal terms (“Renewal Term”) of five (5) years each, commencing on the first day following the expiration of the initial Lease Term (or Renewal Term) subject to the terms and conditions set forth herein. Provided that no default (whether monetary or otherwise) occurs by Tenant hereunder during the Lease Term, Tenant may renew this Lease as provided above upon giving Landlord written notice of such renewal not less than two hundred and seventy (270) days, but no more than one (1) year, prior to expiration of the preceding term. Time is of the essence for providing the written notice of renewal. Accordingly, if Tenant should fail to give notice to Landlord of Tenant’s election to extend the term of this Lease for the Renewal Term (or if after giving such timely notice, Tenant defaults in its obligations under this Lease prior to the commencement of the Renewal Term) then, Tenant shall be deemed to forfeit its right to renew and Landlord shall have no obligation to provide any notice to Tenant that any notice to exercise the Renewal Term is due. In the event Tenant complies with the notice requirement set forth above and elects to renew this Lease, the Base Rent for each Lease Year of the Renewal Term, shall be negotiated in good faith by the parties beginning of the ninth (9th) year of the initial lease term and again in the beginning of the 14th year of the initial Renewal Term. The agreed to renewal Base Rent and any additional renewal rental terms shall be added to Exhibit “B” through lease amendment(s) and the amounts shall be equal to the amount set forth in the amended Exhibit “B”.

Termination Rights

Notwithstanding any provision herein to the contrary, Tenant shall have the right to terminate this Lease under the following condition: Governmental funding for the Tenant’s community school is discontinued or substantially reduced Twenty-Five Percent (25%) or more without reasonable replacement funding by virtue of the Federal &/or State “Charter Schools Program” becoming discontinued on the Federal/State/Local Levels. In the event that this Lease is terminated by either party as permitted by the terms of this Lease, Landlord shall promptly refund all deposits and prepaid rent.


ANNUAL RENT SCHEDULE ANNUAL RENT SCHEDULE

Lease Year Annual Base Rent Monthly Base Rent

July 1, 2016 $360,000 $30,000

July 1, 2017 $360,000 $30,000

July 1, 2018 $375,000 $31,250

July 1, 2019 $375,000 $31,250

July 1, 2020 $385,000 $32,083

July 1, 2021 $385,000 $32,083

July 1, 2022 $410,000 $34,167

July 1, 2023 $450,000 $36,250

July 1, 2024 $450,000 $37,500

July 1, 2025-

July 1, 2026 $450,000 $37,500


Colonial Boulevard

Fowler

Street

North Airport Road


LOCATION

Parking

Driveway Access

Buildable Pad Site

Buildable Pad Site

51,5

00 V

ehic

les

Daily

PROPERTY OVERVIEW

COLLIERS INTERNATIONAL P. 114740 S. CLEVELAND AVENUE | FORT MYERS, FL 9 ON CANAL | INDIANAPOLIS, IN COLLIERS INTERNATIONAL P. 11

CATEGORY DESCRIPTION

Address4740 South Cleveland Avenue

Fort Myers, Florida 33907

Occupancy 100% (Single Tenant)

Building Size 65,190 Square Feet

Uses R&D, Industrial, Institutional

Construction Reinforced Concrete with Paved Shared Parking

Land Area 7.56 Acres (329,379 Square Feet)

Year Built 1981

Year Renovated 2012 ; 2016

Parking200 Paved Surface Spaces

(3.07:1,000 Square Feet)

Building Height 38-Feet (28,000 Square Feet)

Drive-Ins Two (6-Feet Wide x 10-Feet High)

Fire Protection Fully Sprinklered

Security Fenced

County Lee

Zoning CI (Commercial Intensive)

Parcel # 02-45-24-P2-00600.0040


SURVEY

FLOOR PLANS


FORT MYERS / LEE COUNTY OVERVIEWMAJOR EMPLOYERS

HERTZ HEADQUARTERS RENDERING (2016 COMPLETION) | ESTERO

CHICO’S WORLD HEADQUARTERS | FORT MYERS

ARTHREX CORPORATE HEADQUARTERS

As the sixth largest employer in Lee County, Fort Myers is home to Chico’s World Headquarters, a Fortune 500, with 2,000 employees. Overall, Chico’s employs 16,200 (70% part-time) company-wide and operates 1,472 stores, including 135 new store openings in 2013. Established in 1983 and publicly traded since 1994, Chico’s offers an affordable alternative to designer apparel in 48 states, Puerto Rico, U.S. Virgin Islands, and Canada, with over 3.54 million square feet in sale space. Chico’s operates the White House|Black Market, Soma, and Boston Proper labels. 2013 sales totaled $2.58 billion, with a target audience of women over 35 years old in moderate to high income levels.

700 employees were relocated from their New Jersey and Oklahoma headquarters. With the recent merging of Dollar Thrifty Automotive Group, Hertz now employs 30,000 in 150 countries with a fleet exceeding 462,000 vehicles. The nation’s leading rental car company is enjoying a 23% increase in annual sales. Hertz is infused $68.75 million into their new 30,000 square foot campus situated on a 34-acre site.

Established in 1916, Lee Memorial Health System is the largest major employer in Lee County and is comprised of Cape Coral Hospital, HealthPark Medical Center, Lee Memorial Hospital, Gulf Coast Medical Center, The Children’s Hospital of Southwest Florida and The Rehabilitation Hospital. Lee Memorial Health System employs 10,500 and 4,500 volunteer auxilians, with 1,423 beds and 1 million patient contacts annually. They are the recipient of several awards including the “Best Hospital Workplace in Florida.”

Arthrex is a global medical device company and leader in new product development and medical education in orthopaedics. With a corporate mission of helping surgeons treat their patients better, Arthrex has pioneered the field of arthroscopy and developed more than 10,000 innovative products and surgical procedures to advance minimally invasive orthopaedics worldwide.

Other major employers headquartered in Fort Myers include 21st Century Oncology, providing radiation facilities across the country, Source Interlink Companies, media & leading publisher, and the nation’s leading life care facility, Shell Point Retirement Community, the largest Continuing Care Retirement Community in Florida and one of the largest in the world with 952 employees.


FORT MYERS / LEE COUNTY OVERVIEW

TRANSPORTATIONOVERVIEW

Fort Myers is located in Southwest Florida, 130 miles from both Tampa and Miami. Fort Myers is bound by the Caloosahatchee River to the north, Interstate 75 to the East, Gulf of Mexico to the West, and town of Estero to the south. Fort Myers is easily accessible to Interstate 75 and U.S. 41, known as Tamiami Trail. Fort Myers is conveniently served by State Roads 865, 867, and 869.

HIGHWAY ACCESS

Interstate 75 is the main artery that runs north and south. Established in the 1920’s, Route 41, also known as Tamiami Trail, runs parallel just west of the interstate. Several modern, multi-lane thoroughfares run through Fort Myers, making the city easily accessible and convenient to the surrounding region.

AIR

Fort Myers is serviced by one of the top 50 international airports in the U.S. Southwest Florida International Airport in Fort Myers is the hub for 14 airlines with 28 gates, including 2 gates for international customs with direct flights to Canada and Germany. Operated by the Lee County Port Authority, the airport has enjoyed two decades of record breaking growth with 7.6 million passengers in 2013, 21,000 passengers daily, and 221 daily flights.

TRAINAmTrak provides service to Tampa, 130 miles north of Fort Myers, and connects to the Greyhound bus for continued service to Fort Myers.

BUS

Southwest Florida is served by LeeTran, the public bus and trolley system that offers service 7 days a week serving Pine Island, Cape Coral, North Fort Myers, Fort Myers, Fort Myers Beach, Bonita Springs, and Naples. LeeTran offers 18 routes with 50 buses, 11 trolleys, and 47 paratransit vans, and provides transfers at select stations. Fort Myers is also served by the national bus service, Greyhound, connecting to the Amtrak train station in Tampa.



COMPARABLE SALES


2015 Demographics 1 mile 3 miles 5 miles

Population 10,469 58,242 140,109

Average Household Income $47,590 $55,995 $60,628

Average Household Size 2.18 2.22 2.17

Median Age 34.7 39.7 46.2

FORT MYERS AND LEE COUNTY OVERVIEW

SPORTS AND RECREATIONFort Myers is a mecca for great adventures, offering 100 parks, beaches, and wildlife refuges, numerous lakes, streams, and the Gulf of Mexico for fishing, shelling, boating, and watersports. There are 90 public and private golf courses. The J.N. “Ding” Darling National Wildlife Refuge is a huge draw to neighboring Sanibel and Captiva Islands. Fort Myers is home to the Florida Everblades ice hockey team. Since 1998, the team has hosted over 430 games for over 3 million fans. Since 1991, The Miracle minor league baseball team has hosted games at the CenturyLink Sports Complex in Hammond Stadium, seating 7,500 fans. In 2012, JetBlue Park at Fenway South was built to become the infamous Boston Red Sox spring training facility.

EDUCATIONThe Lee County School District is one of the nation’s largest systems and Lee County’s second largest major employer, serving 80,000 students in 73 public schools, including 25 charter schools. Fort Myers High School’s International Baccalaureate program is recognized worldwide.Florida Gulf Coast University is a growing part of Florida’s university system, working with the local business community to provide custom training for professional development, including an Executive MBA program. Edison State College works closely with area businesses to facilitate custom training programs and student internships.

Fort Myers is home to several higher learning institutions including Florida Southwestern University, Keiser University, Pace/Barry University, Rasmussen College, Nova Southeast University, Hodges University, Fort Myers Institute of Technology, and Heritage Educational Community College.

DEMOGRAPHICSFort Myers was once a haven for retirees. Today the younger residents in age group 18-24, those available to enter the workforce, continue to outpace the national average. Fort Myers is an ideal location for new and expanded business opportunities, and offers an outstanding quality of life. Income levels rose drastically from 2000-2010, with the average household income increasing by over 40% in Lee County. The population continues to increase due to the offering of local business incentives, warm climate, abundant outdoor activities, and a reduced cost of living that is 10% below the national average.

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2012. All rights reserved.

RYAN LEFFLERDIRECTOR, OFFICE & HEALTHCARE [email protected]

4740 s. cleveland · a fortune 500, with 2,000 employees. overall, chico’s employs 16,200 (70%...

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