AVIAN POINTE | FULLY-ENTITLED, 480-UNIT MULTI-HOUSING DEVELOPMENT SITE IN FAST-GROWING APOPKA (ORLANDO), FLORIDA
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AVIAN POINTE | FULLY-ENTITLED, 480-UNIT MULTI-HOUSING DEVELOPMENT
SITE IN FAST-GROWING APOPKA (ORLANDO), FLORIDA
AVIAN POINTE
THE OFFERING Property Overview – Parcel B2
Address: 2995 Peterson Road, Apopka, FL 32703
Holliday Fenoglio Fowler, L.P. is pleased to exclusively offer an exceptional Municipality: Orange County
investment opportunity to acquire Avian Pointe (the “Property” or “Site”), Parcel ID: 07-21-28-0000-00-002
a 30-acre development site fronting State Road 429, just south of U.S. Site Area: 30.912 Acres
Highway 441 in the high-growth Orlando bedroom community of Apopka,
Max Density: 480 Units
Florida. Looking ahead, the Apopka region is poised to display accelerated
growth upon the completion of the Wekiva Parkway Extension (scheduled Use / Zoning: Multifamily / PD R-1
for 2022) – a 27-mile expressway which will complete the Central Florida Stories / Maximum Height: Four / 50 Feet
Beltway encircling the Orlando MSA, enabling Apopka residents to
commute seamlessly to highly-coveted areas in Seminole County including
Lake Mary, Heathrow, and Sanford, which collectively possess nearly 10
million square feet of office space (roughly the same amount as INVESTMENT HIGHLIGHTS
Downtown Orlando), and are home to major high-wage employers
including Deloitte, Verizon, AAA, JPMorgan Chase, BNY Mellon, and LOCATED IN THE DIRECT PATH OF GROWTH IN WEST
Convergys, among others. ORLANDO
The Site is fully-entitled for 480 apartment units, and represents one PRIME FRONTAGE & VISIBILITY ALONG SR 429;
parcel (B2) within the larger Avian Pointe master-planned community ADVANTAGEOUSLY SITUATED IMMEDIATELY SOUTH OF THE
(127-acre land assemblage), which possesses full-entitlements for 56 NEW WEKIVA PARKWAY EXTENSION
single family homes, 222 townhomes, in addition to another +/- 20 acres
of recreational and mixed-use space which allow for a school, boutique
hotel, professional office, senior living facility, as well as centralized FULL ENTITLEMENTS IN-PLACE FOR 480 UNITS
community amenities such as a resort-style pool, playground, dog park,
and a variety of sports fields. Investors may view parcel B2 as two 240-
unit development sites, rather than a single 480-unit project. A
development agreement requires that a new access road be developed in HIGH-GROWTH LOCALE WITH PRIME RENTER
phases to provide connectivity to and from West Orange Avenue, and also DEMOGRAPHICS
allows for directional signage at both Orange Avenue to the north and
Lust Road to the south.
ROBUST APARTMENT FUNDAMENTALS BUOYED BY
ORLANDO’S NATION-LEADING MACROECONOMY
Executive Summary | 2
AVIAN POINTE
Lake Apopka
AVIAN POINTE
$1.6B, 27-mile expressway
representing the final link in
the Central Florida Beltway
Lake Mary / Sanford
N
encircling Metro Orlando
Office Parks
Slated for completion in 2022
9.2M SF Office Space
Within 15-20 min. drive
time of Apopka upon
completion of Wekiva
Parkway extension
Wekiva Springs
Mid Florida Logistics Park State Park
Under Construction
Class A Industrial Business Park
2.4M SF
330K SF Goya Foods Distribution Center
Slated to open 2020
The Coca-Cola Company
16-acre production facility
Maitland Center
20K SF R&D Facility Expansion by 2020 Office Market
AVIAN POINTE 7.5M SF Office Space Downtown Orlando
+/- 50,000 Jobs
10.5M SF Office Space
AdventHealth Apopka 15 min. drive time +/- 78,000 Jobs
120-bed hospital campus | 700+ Jobs
25 min. drive time
80 add’l beds anticipated by 2019
Lake Apopka
Executive Summary | 4
AVIAN POINTE
PLENTIFUL EMPLOYMENT IN THE IMMEDIATE AREA
AdventHealth Apopka
AdventHealth Apopka
Located 2.5 miles SE of Avian Pointe, the newly-constructed $200 million
AdventHealth Apopka medical campus features 120 private patient
rooms (with 80 additional beds expected by year end 2019), advanced
surgical suites, a diagnostic heart-catheterization lab, and expanded
women’s services. The campus provides high-wage jobs to roughly 700
employees.
Coca-Cola Company
Coca-Cola (NYSE: KO) is expanding its research and development facilities
by +/- 20,000 square feet at their existing 16-acre Apopka facility, which
is located less than 0.5 miles N of Avian Pointe along W. Orange Avenue.
This expansion is expected to open in early 2020. Coca-Cola is also
reportedly exploring additional space in the neighboring Mid-Florida
Logistics Park, which could result in an additional facility for them. Coca-
Mid-Florida Logistics Park
Cola currently employs more than 1,700 workers in the area.
Goya Foods
New Jersey-based Goya Foods Inc., the largest Hispanic-owned food
company in the US, has confirmed they are acquiring 40 acres in the Mid-
Florida Logistics Park, located less than 0.5 miles NW of Avian Pointe
where they will build a $42 million, 330,000 square-foot distribution
center, which is expected to be completed in mid-2020. The current
Central Florida Goya plant employs 105 people and is maxed out in its
135,000 square-foot facility. This could have a major economic impact on
Apopka, as Goya has reported double-digit sales growth over the past
decade while nearly doubling its product portfolio.
Executive Summary | 5
AVIAN POINTE
APOPKA – EXPERIENCING UNPRECEDENTED GROWTH
Apopka, Florida, is a fast-growing bedroom community of Orlando, situated
just 10 miles northwest of downtown, and is the second largest city by land
A number of current and recently completed
area (encompassing nearly 25 square miles) in Orange County behind the
developments / infrastructure investments are re-
City of Orlando. Apopka is a short drive from a number of the MSA’s major
shaping Apopka, squarely aligning Avian Pointe within
employment centers, destination retail enclaves and attraction areas,
the direct path of growth in western Orlando. Recent
affording residents convenient connectivity to the Greater Orlando region
noteworthy projects taking place in Apopka include:
with the presence of the new Western Beltway (SR 429), in addition to major
travel arteries including Interstate 4, Semoran Boulevard (SR 436), and
• $1.6 billion Wekiva Parkway Expansion
Orange Blossom Trail (US 441).
(slated for completion in 2022)
Apopka is widely known as one of Central Florida’s top destinations for
outdoor recreation, offering a beautiful landscape of lakes, springs and • $203 million, 120-bed AdventHealth Apopka
natural land areas. Notable natural attractions include Lake Apopka (the medical center (opened 2017)
fourth largest lake in Florida), a major ecotourism destination whose wildlife
area hosts a record-breaking 365 species, in addition to the popular 7,000- • $100+ million, 35-acre Apopka City Center
acre Wekiwa Springs State Park, featuring over 13 miles of trails for hiking, mixed-use development (broke ground in
bicycling, and horseback riding, as well as canoeing and kayaking along with 2018)
Wekiwa River and Rock Springs Run.
• City of Apopka is pumping more than $2
SKYROCKETING POPULATION FIGURES million into revitalizing the downtown district,
Given Apopka’s high quality of life, easy commute to major Orlando resurfacing parking lots and store facades
employment and lifestyle drivers, beautiful scenery, and affordable nature,
the locale has continued to experience unprecedented levels of population • City of Apopka is investing $60 million into
growth in recent years. In fact, the Property’s 5-mile population count has improving capacity for it’s wastewater
skyrocketed by 22.6% since 2010 to it’s current level of over 79,300 treatment facility
residents – nearly 3.5 times the average U.S. growth rate over the same
timespan. The 5-mile area surrounding the Property is projected to grow by • Two new fire stations (No. 5 and No. 6) were
an astonishing 9.2% by 2024, according to Environics Analytics, continuing to built in 2018 to reduce response times
far outpace MSA, state and national growth rates.
Executive Summary | 6
AVIAN POINTE
Apopka City Center Renderings
Executive Summary | 7
AVIAN POINTE
$1.6B, 27-mile expressway
ROBUST SINGLE-FAMILY
representing the final link in HOME DEVELOPMENT
the Central Florida Beltway IN THE IMMEDIATE
encircling Metro Orlando
VICINITY
Slated for completion in 2022
1
Bridal Path (Planned)
1 150 Single-Family Homes
BurnBrae Companies
Pricing: TBD 2
Carriage Hill
New Construction | Single-Family Homes
KB Home
2 Pricing: $280,000+ 3
Lakeside (Under Construction)
301 Single-Family Homes
AV Homes 4
AVIAN POINTE
5 Pricing: TBD
Vistas at Waters Edge
New Construction
147 Single-Family Homes
Crossing at Emerson Park 5
M/I Homes
4
Pricing: $310,000+ 3 New Construction | Townhomes
Centex
Pricing: $215,000+
Executive Summary | 8
AVIAN POINTE
An extension of State Road 429, the Wekiva Parkway is a 27-mile Thirteen miles of the expressway were opened to traffic in Orange and
expressway that represents the final link in the Central Florida Beltway Lake counties in spring of 2018, and the remainder is scheduled to
encircling Metro Orlando. It is scheduled for completion in 2022. open to traffic in 2022.
Authorized in 2004 by the Wekiva Parkway and Protection Act, the This expressway expansion is significant in that it will allow for Apopka
expressway is a joint project between CFX and the Florida Department residents to seamlessly commute to areas in Seminole County
of Transportation. It was designed as a scenic passageway through including Lake Mary, Heathrow and Sanford, which collectively possess
rolling countryside and the environmentally sensitive Wekiva River nearly 10 million square feet of office space (roughly the same amount
Basin area. The expressway includes elevated sections and habitat as Downtown Orlando), and are home to major high-wage employers
corridors that separate wildlife from vehicle traffic and features an including Deloitte, Verizon, AAA, JPMorgan Chase, BNY Mellon, and
expansive crossing over the picturesque Wekiva River en route to Convergys, among others. Many of these employers will be within a 15
linking up with SR 417 (Central Florida Greenway) and Interstate 4 in to 20 minute drive time upon completion of the Wekiva Parkway.
northwest Seminole County.
Executive Summary | 9
AVIAN POINTE
PROXIMATE TO AN ARRAY OF LIFESTYLE DEMAND DRIVERS
Lake Apopka Wildlife Drive
Lake Apopka Loop Trail
The Lake Apopka Wildlife Drive is an 11-mile, one-way drive that begins at Lust Road and ends
at Jones Road in Orange County, Florida. The drive is open Fridays, Saturdays, Sundays and
federal holidays between sunrise and sunset and is closed other days due to ongoing Lake
Apopka restoration work. Lake Apopka is in the headwaters of the Ocklawaha River. At
approximately 48.4 square miles in size, Lake Apopka is the fourth largest lake in Florida and
receives water from spring flow, rainfall and stormwater runoff. The lake was identified for
cleanup under Florida’s Surface Water Improvement and Management Act of 1987 and was
passed by the Florida Legislature in 1996.
Lake Apopka Loop Trail
Located 2.4 miles southwest of Avian Pointe is the Lake Apopka Loop Trail; a proposed 57-mile
public bicycle trail circling Lake Apopka that will connect communities, parks, and open green
space. The trail will provide physical access to the lake at certain points, and will serve to meet
Lake Apopka North Shore demands for outdoor recreation in the area. It is also part of a plan to bolster ecotourism for
the Lake Apopka Basin. Portions of the trail have been completed already (about 14 miles), but
they are not all connected just yet.
Lake Apopka North Shore
The Lake Apopka North Shore is widely known for its bird population. A 1998 Christmas Bird
Count (CBC) - a one-day count performed annually during the holiday season identified 174
species of birds here, the highest species total for an inland count in the 115-year history of the
CBC. The list of birds found here continues to grow, with 362 species now having been seen on
the property. They include Anhinga, Bald Eagle, Black Vulture, Double-crested Cormorant,
Great Blue Heron, Great Egret, Green Heron, Glossy Ibis, Little Blue Heron, Osprey, Red-
shouldered Hawk, Red-Winged Blackbird, Swallow-tailed Kite, Tricolored Heron, Turkey Vulture
and White Ibis. Other wildlife found here include alligator, turtles, bobcat, otter, raccoon,
snakes and coyote.
Executive Summary | 10AVIAN POINTE
Wekiva Springs State Park
Wekiva Springs State Park
Located at the headwaters of the Wekiva River, the beautiful vistas within this park offer a
glimpse of what Central Florida looked like when Timucuan Indians fished and hunted these
lands. Just one hour from most central Florida attractions, Wekiwa Springs offers visitors the
opportunity to relax in a natural setting, enjoy a picnic or take a swim in the cool spring.
Thirteen miles of trails provide opportunities for hiking, bicycling and horseback riding.
Canoeists and kayakers can paddle along the Wekiva River and Rock Springs Run. Canoe and
kayak rentals are available from the park’s concessionaire. Options for camping include a full
facility campground and primitive camping areas.
Winter Garden Village
Winter Garden Village at Fowler Groves is a 1.2 million square foot open-air shopping mall
which was developed in 2007 on the historic Fowler Groves in beautiful Winter Garden,
Florida. Located 15 minutes south of the Property, Winter Garden Village consists of three
shopping districts: The Grove, The Crossing and The Exchange and is the dominant power
center in the western Orlando market serving a trade area of nearly a half million people with
an average household income of just over $76,000. Major tenants include Target, Marshalls,
Winter Garden Village HomeGoods, Sports Authority, Best Buy, Lowe’s, PetSmart, Staples, Haverty’s, Bed Bath &
Beyond, Old Navy, Ross, Bealls and LA Fitness.
Altamonte Mall
Altamonte Mall is a super-regional shopping mall located 10.5 miles east of the Property in
Altamonte Springs, a suburb of Orlando. As the second largest indoor mall in the Central
Florida area, the mall has around 160 stores, 24 dining options, an 18-screen AMC Movie
Theatre and four anchors including JC Penney, Dillard’s, Macy’s and Sears. The mall was built in
1974, and renovated in 1989 and 2003-2004. Other notable tenants are Abercrombie and
Fitch, Banana Republic, Coach, Apple, Pandora Jewelry, and New York and Company.
Executive Summary | 11AVIAN POINTE
INVESTMENT ADVISORS
BRETT MOSS MATT MITCHELL Orlando Office Tampa Office
Senior Director Senior Managing Director 250 S. Park Ave 101 E. Kennedy Blvd
407.745.3921 813.387.9902 Suite 360 Suite 3905
BMoss@hfflp.com MMitchell@hfflp.com Winter Park, Florida 32789 Tampa, Florida 33602
T: (407) 745-3900 T: (813) 387-9900
ZACH NOLAN ANTHONY FROGAMENI
Senior Director Director
813.387.9906 407.745.3913
ZNolan@hfflp.com AFrogameni@hfflp.com
TYLER SWIDLER
Associate
407.745.3919
TSwidler@hfflp.com
This Offering Memorandum has been prepared by HFF for use by a limited number of recipients. All information contained herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents
makes any representations or warranties, expressed or implied, as to the accuracy or completeness of the information contained herein. Further, the Offering Memorandum does not constitute a representation that no change in the business or affairs of the property or the
Owner has occurred since the date of the preparation of the Offering Memorandum. All analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the recipient. HFF and Owner and their respective officers, directors,
employees, equity holders and agents expressly disclaim any and all liability that may be based upon or relate to the use of the information contained in this Offering Memorandum.
Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective investors.
Owner and HFF each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the property and/or terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or
obligations to any recipient reviewing this Offering Memorandum or making an offer to purchase the property unless and until such offer is approved by Owner, a written agreement for the purchase.
of the property has been fully executed, delivered and approved by Owner and its legal counsel, and any obligations set by Owner thereunder have been satisfied or waived.
The recipient (“Recipient”) agrees that (a) the Offering Memorandum and its contents are confidential information, except for such information contained in the Offering Memorandum, which is a matter of public record, or is provided from sources available to the public (b)
the Recipient, the Recipient’s employees, agents and consultants (collectively, the “need to know parties”) will hold and treat it in the strictest of confidence, and the Recipient and the need to know parties will not, directly or indirectly, disclose or permit anyone else to
disclose its contents to any other person, firm, or entity without the prior written authorization of HFF and the Owner, and (c) the Recipient and the need to know parties will not use or permit to be used this Offering Memorandum or its contents in any fashion or manner
detrimental to the interest of the Owner or HFF or for any purpose other than use in considering whether to purchase the
property. The Recipient and the need to know parties agree to keep this Offering Memorandum and all confidential information contained herein permanently confidential and further agree to use this Offering Memorandum for the purpose set forth above. If the Recipient
has no interest in the property, or if in the future the Recipient or owner discontinue such negotiations, the Recipient will return this Offering Memorandum to HFF.
©2019 Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 26 offices and are a leading provider of commercial
real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and
corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.You can also read
