5144 S Orange_brochure.v2

FOR SALE 5144 S. ORANGE AVENUE EDGEWOOD, FL

13,795 SF Office/Flex Building Sale Price: $2,995,000

Cushman & Wakefield | 5144 S. Orange Avenue | 1

INVESTMENT HIGHLIGHTS

10,680 SF OFFICE SPACE

3,115 SF WAREHOUSE SPACE

NEW TO MARKET, NEVER BEFORE AVAILABLE

10 TO 12-FOOT CEILINGS THROUGHOUT

GENEROUS 4.5/1,000 PARKING RATIO

Investment Overview

Cushman & Wakefield, as exclusive advisor, presents the opportunity to acquire this never-before-available property in Edgewood (Orlando), Florida. The meticulously maintained building and grounds have been occupied by Missionary Ventures International, Inc. since the building’s construction in 2008. The property consists of a 1.57-acre (68,489 SF) tract of commercially zoned land comprising a single-platted lot fronting S. Orange Avenue, and a 13,795 SF single-story office/warehouse building with related parking and site improvements. With ample meeting and training space, large c-suite offices, a good-sized warehouse space, and ample parking, this building is perfectly suited for a variety of uses including engineering firms, construction companies, corporate head quarters, corporate sales office with distribution, and many more.

This Confidential Offering Memorandum (“Memorandum”) is being delivered subject to the terms of the Confidentiality Agreement (the “Confidentiality Agreement”) signed by you and constitutes part of the Confidential Information (as defined in the Confidentiality Agreement). It is being given to you for the sole purpose of evaluating the possible investment in 123 Address Lane, City, State (the “Project”), and is not to be used for any other purpose or made available to any other party without the prior written consent of Alexander Development Group (“Managing Member”), or its exclusive broker, Cushman & Wakefield. This Memorandum was prepared by Cushman & Wakefield based primarily on information supplied by Managing Member. It contains select information about the Project and the real estate market but does not contain all the information necessary to evaluate the Project. The financial projections contained herein (or in any other Confidential Information) are for general reference only. They are based on assumptions relating to the overall economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or a legal analysis of such documents. While the information contained in this Memorandum and any other Confidential Information is believed to be reliable, neither Cushman & Wakefield nor Managing Member guarantees its accuracy or completeness. Because of the foregoing and since the investment in the Project is being offered on an “As Is, Where Is” basis, a prospective investor or other party authorized by the prospective investor to use such material solely to facilitate the prospective purchaser’s investigation, must make its independent investigations, projections and conclusions regarding the investment in the Project without reliance on this Memorandum or any other Confidential Information. Although additional Confidential Information, which may include engineering, environmental or other reports, may be provided to qualified parties as the marketing period proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engineers and environmental experts. Neither Cushman & Wakefield nor Managing Member guarantees the accuracy or completeness of the information contained in this Memorandum or any other Confidential Information provided by Cushman & Wakefield and Managing Member. Managing Member expressly reserves the right, at its sole discretion, to reject any offer to invest in the Project or to terminate any negotiations with any party at any time with or without written notice. Managing Member shall have no legal commitment or obligations to any prospective investor unless and until a written sale agreement has been fully executed, delivered and approved by Managing Member and any conditions to Managing Member’s obligations thereunder have been satisfied or waived. Managing Member has retained Cushman & Wakefield as its exclusive broker and will be responsible for any commission due to Cushman & Wakefield in connection with a transaction relating to the Project pursuant to a separate agreement. Cushman & Wakefield is not authorized to make any representation or agreement on behalf of Managing Member. Each prospective investor will be responsible for any claims for commissions by any other broker in connection with an investment in the Project if such claims arise from acts of such prospective investor or its broker. This Memorandum is the property of Managing Member and all parties approved by Managing Member and may be used only by parties approved by Managing Member. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone except as permitted under the Confidentiality Agreement. ©2018 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE.

OCPA ID No.

13-23-29-6864-00-041

Classification

Class B

C-3 COMMERCIAL ZONING FOR FLEXIBILITY

Building Size

One-story; 13,795 RSF

Land Area

1.57 ± acres; 68,489± SF

C-3, Wholesale Commercial District, City of Edgewood

Zoning

DIRECT FRONTAGE ON S. ORANGE AVE - 42,000 ADT

Built

2008

Fire Sprinklers

Yes

Concrete block with red brick veneer, steel purlin/roof deck with membrane cover

Construction

CLICK HERE TO VIEW A VIRTUAL TOUR OF THE SPACE

Parking

63 spaces (4.5/1,000 RSF)

Current FAR

0.20

Cushman & Wakefield | 5144 S. Orange Avenue | 3

MEETING AND TRAINING SPACES

C-SUITE OFFICES

THE SITE The site is a single platted, rectangular lot with over 192 feet of frontage along the west side of S. Orange Avenue—the primary north-south commercial thoroughfare in the immediate market area with average annual daily traffic of 42,000 vehicles in the area of the subject. The road is 5 lanes, including a center turn lane, providing full, unobstructed north or southbound traffic access to the property. As such, the property has very good access and exposure. The property is zoned C-3, wholesale commercial district, by the City of Edgewood, allowing for a wide variety of office, retail, general commercial, wholesale distribution, indoor light manufacturing and much more.

THE BUILDING The building features a welcoming reception area, and large windows for ample daylight throughout. The space includes a large conference room, several areas ideal for training rooms or additional meeting space, break rooms, and a good-sized warehouse space for storage. Large offices along the perimiter are bright and airy, with several configured for c-suites with shared administrative areas.

Cushman & Wakefield | 5144 S. Orange Avenue | 5

LOCATION & DEMOGRAPHICS

as Polk County. The submarket is highly desirable as a location for sales divisions of Fortune 1000 companies. In addition, many office tenants like the submarket due to its central location, the nearby well-established housing communities, and proximity to Orlando’s CBD. VACANCY & ABSORPTION Demand for office space in Millenia/Metrowest was broad-based with the overall direct vacancy rate hitting 8.4% at the end of the third quarter 2018. Class “A” overall vacancy fell by 20 bps over the same period to 6.7% which is down 780 bps over a five-year period. Absorption was anticipated to remain positive for the rest of 2018 on strong leasing activity in both Class “A” and “B” assets. With zero new construction and current available space in the market tightening, the vacancy rate was projected to continue to remain in the single digits through 2019. ASKING RENTAL RATES Direct asking rents for Millenia/Metrowest ended Q3 2018 at $22.50 psf, up 11.1% in five years and is projected to grow higher on limited new construction and availabilities. Direct asking gross rents in the submarket for Class A space exceeded $25.00 psf in that same time period. A lack of new inventory and quality space available, particularly in the high-end assets that meet current tenant’s needs and specifications, will continue to keep vacancy rates at historic lows. The outlook for the office market in the Millenia/Metrowest submarket will be strong. With many companies moving operations to more centralized locations with close proximity to major transportation arteries, the Millenia/Metrowest submarket is undoubtedly an attractive option for firms seeking to establish a facility to serve the entire metro area as well as the state.

MILLENIA/METROWEST SUBMARKET The Millenia/Metrowest submarket is part of the Orlando metro region and is in the southwest region of Orange County. The submarket is located just off Interstate 4 by the 1.2 msf Mall at Millenia. The submarket includes the area south of the 408 Expressway, north of Oakridge Road and west of Orange Avenue running along both sides of the I-4 Corridor. The overall submarket includes major office concentrations of Millenia, Metrowest and Windermere. Millenia/Metrowest is also home to many tourist-driven companies including Universal Studios, Planet Hollywood International and Hilton Grand Vacations. The submarket contains approximately 2.1 msf of inventory in 33 buildings. The breakdown of the submarket’s office inventory is 59.0%, Class A space, 39.7%, Class B space and 1.4%, Class C space.

The property is located along the west side of S. Orange Avenue, approximately 3.5 miles south of downtown Orlando. Orange Avenue is a two-way, five lane thoroughfare being the primary north south commercial roadway in this market area and the primary road through the heart of downtown Orlando to the north. The property is located just south of the coveted SoDo district of Orlando, with a long-established area of the incorporated City of Edgewood. The surrounding area comprises light industrial, retail and office uses along the Orange Avenue corridor and residential uses on the backlands and secondary roads. Many of the residential neighborhoods in the immediate area are older and upscale, benefitting from frontage along the shores of the area’s numerous freshwater lakes.

Demographics

1 Mile 2 Mile 3 Mile

Population

5,470 106,615 263,799

Employees

2,831

55,155 138,613

Owner Occupied Housing

78.87% 49.31% 42.63%

Median Age

44.40 36.80 36.40

Associates Degree+

1,879 29,831

76,286

Average Income

$89,433 $61,013 $57,292

The submarket is also home to the high-end Mall at Millenia, one of the largest enclosed malls in Central Florida as well as adjacent to several of Orlando’s major tourist attractions including Universal Studios Florida, Sea World and International Drive. The area offers one of the few quality alternatives to Orlando’s Central Business District for tenants seeking high quality alternatives south of Downtown. As a result of its high concentration of recently constructed office product, Class A space represents approximately 62% of the market. There are several major office parks within the submarket including Highwood Properties’ Metrowest development, SouthPark office park developed by Flagler Development, and the 3 building Millenia Lakes project developed by Duke Properties. TENANT DRIVERS The Millenia/Metrowest submarket historically saw the significant tenant demand and leasing activity due to the variety of office product available, abundant parking ratios and its ability to draw skilled employees from as far north as Seminole County and as far south

Cushman & Wakefield | 5144 S. Orange Avenue | 7

Maitland

Apopka

TOLL 429

441

423 IDEAL LOCATION JUST SOUTH OF DOWNTOWN ORLANDO Winter Park

435

91

Ocoee

Silv er Star Rd

423

438

4

John Young Par k wa y

50

Winter Garden

Clermont

Colonial Dr

TOLL 408

Central Business District

F l o r i d a ' s T u r n p i k e

TOLL 408

E ast- We s t Expres s way

Florida’s Turnpike

O r a n g e A v e

436

Kirkman Rd

W e s t e r n E x p r e s s w a y

17

4

Orlando

H o ˆ n e r A v e

Universal Studios

Islands of Adventure

15

Volcano Bay

TOLL 528

TOLL 429

Sand Lake Rd

A p o p k a - V i n e l a n d

LAKE COUNTY

527

Magic Kingdom

TOLL 528

Aquatica Sea World

Orlando International Airport

Central Florida Pkwy

Discovery Cove

92

Lake Nona

I n t e r n a t i o n a l D r

TOLL 417

Epcot Center

4

Disney World Disney - MGM Studios

Wor l d D rive

Or an ge Blosso m Tr a il

Animal Kingdom

O s c e o l a P ark w a y

Florida’s Turnpike

B o g g y C r e e k R d

J o h n Y o ung Par k w a y w a y

192

27

TOLL 429

OSCEOLA COUNTY

East Lake Tohopekaliga

Kissimmee

SunRail

92

17

St. Cloud

441

POLK COUNTY

Lake Tohopekaliga

4

27

Tommy Pinel, MAI Senior Associate +1 407 241 3084 tommy.pinel@cushwake.com For more information, contact:

600

91

Cushman & Wakefield of Florida, LLC | 20 N. Orange Avenue, Suite 300 | Orlando, FL 32801 | +1 407 841 8000