Chipotle Mexican Grill and Panera Bread - 777 South Federal Highway | Deerfield Beach, FL 33441 - Stan Johnson ...

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Chipotle Mexican Grill and Panera Bread - 777 South Federal Highway | Deerfield Beach, FL 33441 - Stan Johnson ...
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Subject Property

        Chipotle Mexican Grill and Panera Bread
        777 South Federal Highway | Deerfield Beach, FL 33441
        Brand New Construction Two-Tenant Retail Strip Center | Brand New 10 Year Lease | Rare, Fort Lauderdale Metro Acquisition
        Opportunity | 10% Rental Escalations Every 5 Years | Directly on N Federal Highway (39,682 VPD) | NNN Leases
Chipotle Mexican Grill and Panera Bread - 777 South Federal Highway | Deerfield Beach, FL 33441 - Stan Johnson ...
Confidentiality and Restricted Use Agreement                                                                              Offered Exclusively by

This Confidential Offering Memorandum (“COM”) is provided by Stan Johnson Company (“SJC”), solely for your                Brad Feller
consideration of the opportunity to acquire the commercial property described herein (the “Property”). This COM           Senior Director
may be used only as stated herein and shall not be used for any other purpose, or in any other manner, without            bfeller@stanjohnsonco.com
prior written authorization and consent of SJC.                                                                           P: +1 312.240.0194

This COM does not constitute or pertain to an offer of a security or an offer of any investment contract. This
                                                                                                                          Isaiah Harf
COM contains descriptive materials, financial information and other data compiled by SJC for the convenience              Director
of parties who may be interested in the Property. Such information is not all inclusive and is not represented to         iharf@stanjohnsonco.com
include all information that may be material to an evaluation of the acquisition opportunity presented. SJC has           P: +1 312.777.2437
not independently verified any of the information contained herein and makes no representations or warranties
of any kind concerning the accuracy or completeness thereof. All summaries and discussions of documentation
                                                                                                                          Blaise Bennett
and/or financial information contained herein are qualified in their entirety by reference to the actual documents
                                                                                                                          Associate
and/or financial statements, which upon request may be made available. An interested party must conduct its               bbennett@stanjohnsonco.com
own independent investigation and verification of any information the party deems material to consideration of            P: +1 312.777.2449
the opportunity, or otherwise appropriate, without reliance upon SJC.

The Property may be financed or withdrawn from the market without notice, and its owner(s) reserve(s) the right           Brandon Duff
to negotiate with any number of interested parties at any time. The Property is offered and sold by its owner(s)          Regional Director
as is, where is, and with all faults, without representation or warranty of any kind except for any customary
warranties of title.
                                                                                                                          In Association With:
BY ACCEPTING THIS COM, YOU AGREE THAT: (1) all information contained herein, and all other information you
                                                                                                                          Jason Long
have received or may hereafter receive from SJC relating to the Property, whether oral, written or in any other
                                                                                                                          FL Lic # BK3302956
form (collectively, the “Information”), is strictly confidential; (2) you will not copy or reproduce, and claim as your
own without attribution to SJC, all or any part of this COM or the Information; (3) upon request by SJC at any
time, you will return and/or certify your complete destruction of all copies of this COM and the Information; (4)
for yourself and all your affiliates, officers, employees, representatives, agents and principals, you hereby release
and agree to indemnify and hold harmless SJC all of its affiliates, officers, employees, representatives, agents
and principals, from and with respect to any and all claims and liabilities arising from or related to the receipt or     Stan Johnson Company
use of this COM and/or any other Information concerning the Property; (5) you will not provide this COM or any            303 East Wacker Drive | Suite 1111
of the Information to any other party unless you first obtain such party’s acceptance and approval of all terms,          Chicago, IL 60601
conditions, limitations and agreements set forth herein, as being applicable to such party as well as to you; and         P: +1 312.240.0127 | F: +1 312.240.0158
(6) monetary damages alone will not be an adequate remedy for a violation of these terms and that SJC shall be            stanjohnsonco.com
entitled to equitable relief, including, but not limited to, injunctive relief and specific performance, in connection
with such a violation and shall not be required to post a bond when obtaining such relief.
Chipotle Mexican Grill and Panera Bread - 777 South Federal Highway | Deerfield Beach, FL 33441 - Stan Johnson ...
Table of Contents

Section 1 - Executive Summary

The Offering........................................................................................................................................................5

Investment Highlights...................................................................................................................................6

Pricing and Property Overview..............................................................................................................7

Rent Roll................................................................................................................................................................8

Pro Forma Income Statement.................................................................................................................9

10 Year Leveraged Cash Flow................................................................................................................10

Section 2 - Tenant Information

Chipotle Lease Abstract & Rent Schedule.....................................................................................12

Chipotle Tenant Overview........................................................................................................................ 13

Panera Lease Abstract & Rent Schedule........................................................................................ 14

Panera Tenant Overview............................................................................................................................15

Section 3 - Location Information

Location Overview.........................................................................................................................................17

Site Plan............................................................................................................................................................... 18

Strip Map............................................................................................................................................................ 19

Subject Property Photos.........................................................................................................................20

Surrounding Retail.........................................................................................................................................21

Demographics................................................................................................................................................ 22
Chipotle Mexican Grill and Panera Bread - 777 South Federal Highway | Deerfield Beach, FL 33441 - Stan Johnson ...
Section One

    About the Investment

                           SW

Subject Property
Chipotle Mexican Grill and Panera Bread - 777 South Federal Highway | Deerfield Beach, FL 33441 - Stan Johnson ...
The Offering
Stan Johnson Company is pleased to exclusively
offer for sale to qualified investors, the opportunity
to purchase a 100% fee-simple interest in the
two-tenant retail center located at 777 South
Federal Highway in Deerfield Beach, FL (the
“Property”). The Property is 100% leased by co-
tenants, Chipotle Mexican Grill and Panera Bread,
and is located within the heart of the Deerfield
Beach retail trade area. This retail trade area is
the home of numerous national credit retailers
including ALDI, Target, Winn-Dixie, Office Depot,
Starbucks, Bealls Department Store, Walmart
Supercenter, CVS Pharmacy, LA Fitness, Publix,
among many others.
The Property was built in 2014 and is located
on South Federal Highway (39,682 VPD). It is
an attractive, well maintained property with
clear visibility and ease of access. The total
rentable SF is 6,300 SF, and the Property is 1.25
acres. Chipotle occupies 2,200 SF, while Panera
occupies 4,100 SF on a brand new 10 year lease
which commenced in July 2014 and August 2014,
respectively. The Property has a stabilized NOI of
$230,984.
Chipotle Mexican Grill and Panera Bread both
currently operate under NNN leases with
the Tenants responsible for their pro rata
shares of taxes, insurance and CAM. Subject
to reimbursement by Tenant, the Landlord
is responsible for exterior and structural
components of the building, roof and parking             NE
lot (please see lease abstracts for full expense
details for both Chipotle and Panera Bread).
                                                                                                              Subject Property

                                                              Section 1 • Chipotle & Panera Bread • Deerfield Beach, FL 5
Chipotle Mexican Grill and Panera Bread - 777 South Federal Highway | Deerfield Beach, FL 33441 - Stan Johnson ...
Investment Highlights
Excellent Tenant Base
Panera Bread and Chipotle Mexican Grill represent two highly desirable retail
tenants with more than a combined 2,900 locations across the country.
Chipotle boasts a market cap of $15.03 billion, and as of September 30, 2015,
revenue of $4.57 billion. Panera boasts a market cap of $5.22 billion, and as of
September 30, 2015, revenue of $2.66 billion
Leading Franchisee
Panera Bread is operated by Covelli Enterprises, the single largest franchisee of
Panera Bread (266 locations) and O’Charley’s restaurants and the 4th largest
franchisee in the nation
Brand New Construction Two-Tenant Retail Strip Center
The Property was built in 2014 representing significant commitment to
location’s retail strength and projected future success. It is an attractive, well
maintained property with clear visibility and ease of access
8 Years Base Lease Term Remaining
Chipotle and Panera Bread are both operating under 10 year base lease terms,
followed by four, 5-year renewal option periods
Rental Escalations
Leases feature 10% rental increases every five years through the base terms
and at the beginning of each renewal option period
Highly Visible, Easily Accessible Location
The Property is located less than six miles south of the affluent city of Boca
Raton and less than 14 miles north of Fort Lauderdale, directly on N Federal
Highway and less than a mile from Interstate-95 with combined traffic count
of 244,000 VPD
Premier Demographics
Property benefits from population in excess of 204,437 and average household
income of $74,111 within a 5-mile radius
NNN Lease Structure
Property offers investors a truly passive investment with no landlord
responsibilities, aside from capital expenses for exterior and structural portions
of Premises, inclusive of roof and parking which are subject to reimbursement
by Tenant
Excellent Retail Market Fundamentals
The Property is situated within the Broward County submarket, a densely
populated segment of the Miami-Fort Lauderdale-West Palm Beach MSA retail
market with a vacancy rate of 3.1% on approximately 38.7 million square feet
of general retail

                                                                                     Subject Property Photos

                                                                                                          Section 1 • Chipotle & Panera Bread • Deerfield Beach, FL 6
Chipotle Mexican Grill and Panera Bread - 777 South Federal Highway | Deerfield Beach, FL 33441 - Stan Johnson ...
Pricing Overview
              Chipotle & Panera Bread | Deerfield Beach, FL

Offering Price:             $5,132,978

Offering Cap Rate:          4.50%

Net Operating Income:       $230,984

Tenants:                     Chipotle Mexican Grill & Panera Bread
                             Chipotle: 34.92%
Pro Rata Shares:
                             Panera Bread: 65.08%
Ownership Interest:          Fee Simple

Encumbrances:                None, Delivered Free & Clear

Property Overview
      777 South Federal Highway | Deerfield Beach, FL 33441

Property Description:          2-Tenant Retail Property

Year Built:                    2014

Lot Size (Acres):              1.25 Acres

Total Building Size (SF):      6,300 SF

Other Features:               Outdoor seating area and Drive-Thru Panera

Parking:                       +/- 35 spaces                                                                                             N
Property ID:                   Broward County: 48-43-06-00-1010

                                                                           Section 1 • Chipotle & Panera Bread • Deerfield Beach, FL 7
Chipotle Mexican Grill and Panera Bread - 777 South Federal Highway | Deerfield Beach, FL 33441 - Stan Johnson ...
Rent Roll
                                Lease Term                        Rent                                                     2016 Annual Expense Reimbursements

                    %                                                                     Utilities          CAM             Admin Fee*             Taxes           Insurance            Total
Tenant    SF
                  Share
                            Begins        Ends        Annual       Monthly      PSF
                                                                                        Total    PSF     Total     PSF       Total    PSF       Total       PSF    Total    PSF      Total       PSF

         2,200    34.92%    7/20/2014   7/31/2019   $96,800.00    $8,066.67    $44.00   $3,248   $1.48   $10,675   $4.85       -        -      $17,460   $7.94    $5,670    $2.58   $37,053    $16.84

                            8/1/2019    7/31/2024   $106,480.00   $8,873.33    $48.40

                 Option 1   8/1/2024    7/31/2029   $117,128.00   $9,760.67    $53.24

                 Option 2   8/1/2029    7/31/2034   $128,832.00   $10,736.00   $58.56

                 Option 3   8/1/2034    7/31/2039   $141,724.00   $11,810.33   $64.42

                 Option 4   8/1/2039    7/31/2044   $155,892.00   $12,991.00   $70.86

         4,100   65.08%     8/14/2014   8/31/2019   $131,200.00   $10,933.33   $32.00   $6,052   $1.48   $19,895   $4.85    $2,984   $0.73     $32,540   $7.94    $10,566   $2.58   $72,037    $17.57

                            9/1/2019    8/31/2024   $146,944.00   $12,245.33   $35.84

                 Option 1   9/1/2024    8/31/2029   $161,622.00   $13,468.50   $39.42

                 Option 2   9/1/2029    8/31/2034   $177,817.00   $14,818.08   $43.37                                       15% Of Total CAM

                 Option 3   9/1/2034    8/31/2039   $195,570.00   $16,297.50   $47.70

                 Option 4   9/1/2039    8/31/2044   $215,127.00   $17,927.25   $52.47

 Total   6,300   100%        Total Current Rent     $228,000.00   $19,000      $36.19   $9,300   $1.48   $30,570   $4.85    $2,984   $0.47     $50,000   $7.94    $16,236   $2.58   $109,090   $17.32

                                                                                                                             Section 1 • Chipotle & Panera Bread • Deerfield Beach, FL 8
Chipotle Mexican Grill and Panera Bread - 777 South Federal Highway | Deerfield Beach, FL 33441 - Stan Johnson ...
Pro Forma NOI Underwriting
                Source                         Pro Rata Share          2016

                Base Rent
   Income          Chipotle Base Rent                               $96,800
                   Panera Bread Base Rent                           $131,200
                Total Base Rent                                     $228,000
                Utilities Reimbursement
                   Chipotle Utilities                                $3,248
                   Panera Bread Utilities                            $6,052
                CAM Reimbursement
                   Chipotle CAM                                      $10,675
                   Panera Bread CAM                                  $19,895
                Administrative Fee*
  Additional       Chipotle Admin Fee                                   -
   Income
                   Panera Bread Admin           15% of CAM           $2,984
                   Fee
                Taxes Reimbursement
                   Chipotle Taxes                                    $17,460
                   Panera Bread Taxes                                $32,540
                Insurance Reimbursement
                   Chipotle Insurance                                $5,670
                   Panera Bread Insurance                            $10,566
                Total Additional Income                             $109,090
                Effective Gross Income                              $337,090
                Recoverable Expenses
                Utilities                                           ($9,300)
 Operating
                CAM                                                 ($30,570)
 Expenses**
                Taxes                                               ($50,000)
                Insurance                                           ($16,236)
                Total Recoverable Expenses                          ($106,106)
                NOI                                                 $230,984

*Admin Fee is equal to 15% of Panera’s proportionate share of CAM
**Expenses based on annualized 2016 Budget                                       Subject Property Photos

                                                                                                     Section 1 • Chipotle & Panera Bread • Deerfield Beach, FL 9
Chipotle Mexican Grill and Panera Bread - 777 South Federal Highway | Deerfield Beach, FL 33441 - Stan Johnson ...
Income Statement
        Investment Year             0               1      2          3           4          5          6           7            8           9             10
                                                                              Rent Bump                                                 Rent Bump
                                               2016       2017       2018       2019       2020        2021       2022         2023        2024          2025
Property Valuation             $5,818,243                                                                                                             $6,689,963
Base Rent
Chipotle Base Rent                           $96,800    $96,800    $96,800    $100,833    $106,480   $106,480   $106,480     $106,480     $110,917      $117,128
Panera Bread Base Rent                       $131,200   $131,200   $131,200   $136,448    $146,944   $146,944   $146,944     $146,944     $151,837      $161,622
Total Base Rent                              $228,000   $228,000   $228,000   $237,281    $253,424   $253,424   $253,424     $253,424    $262,753       $278,750
                               Annual Growth Rate

Expense Reimbursement Income      2.00%      $109,090   $111,272   $113,497    $115,767   $118,083   $120,444   $122,853     $125,310     $127,817     $130,373

Total Income                                 $337,090   $339,272   $341,497   $353,049    $371,507   $373,868   $376,277     $378,734    $390,570      $409,123
                               Annual Growth Rate
Total Operating Expenses          2.00%      $106,106   $108,228   $110,393    $112,601   $114,853   $117,150    $119,493    $121,882    $124,320      $126,806
NOI                                          $230,984   $231,044   $231,105   $240,448    $256,654   $256,719   $256,785     $256,852    $266,250      $282,316

                                                                                                                                                                      SW

                                                                                                       Section 1 • Chipotle & Panera Bread • Deerfield Beach, FL 10
Section Two

   Tenant Information

                        W

Subject Property
Lease Abstract
Tenant:                      Chipotle Mexican Grill

Lease Guarantor:             Chipotle Mexican Grill, Inc.,

Address:                     777 S Federal Highway, Deerfield Beach, FL

Building Size (SF):          2,200

Lot Size (Acres):            1.25 Acres

Pro Rata Share:              34.92%

Year Built:                  2014

Lease/Rent Commencement:     7/20/2014

Lease/Rent Expiration:       7/31/2024

Base Lease Term:             10 years

Base Lease Term Remaining:   8 years
                                                                               Subject Property
Annual Base Rent:

Annual Base Rent PSF:
                             $96,800

                             $44.00
                                                                               Rent Schedule
                                                                                                                                      Monthly        Rent
Rental Increases:            10% increases every 5 years                         Years              Dates            Annual Rent                              Increase
                                                                                                                                       Rent          PSF

Renewal Options:             4, 5-Year renewal options
                                                                                  1-5       7/20/2014 - 7/31/2019      $96,800       $8,066.67     $44.00         -

Renewal Notice:              12 Months
                                                                                  6-10       8/1/2019 - 7/31/2024      $106,480      $8,873.33     $48.40      10.0%
Renewal Option Increases:    10% at the beginning of each option
                                                                                 11-15
                                                                                             8/1/2024 - 7/31/2029       $117,128     $9,760.67      $53.24     10.0%
Lease Type:                  Shopping Center NNN                               (Option 1)

                             Roof, Structure, Parking Lot - Reimbursed by        16-20
Landlord Responsibilities:                                                                   8/1/2029 - 7/31/2034      $128,832      $10,736.00     $58.56     10.0%
                             Tenant                                            (Option 2)
                             LL can terminate lease if Tenant goes dark for      21-25
Go Dark Clause:                                                                              8/1/2034 - 7/31/2039      $141,724      $11,810.33     $64.42     10.0%
                             more than 90 days (see leases for more details)   (Option 3)

ROFR:                        None                                                26-30
                                                                                            8/1/2039 - 7/31/2044       $155,892      $12,991.00     $70.86     10.0%
                                                                               (Option 4)

                                                                                                            Section 2 • Chipotle & Panera Bread • Deerfield Beach, FL 12
Tenant Overview
                Chipotle Mexican Grill, Inc.       YouGov. The fast-casual sector is growing more
                (Chipotle)    develops      and    quickly than any other part of the restaurant
                operates   fast-casual,   fresh    industry – fast-casual chains increased annual
                Mexican food restaurants in        sales by 12.8 percent in 2014, continuing a
                the United States, Canada,         decade-long trend.
the United Kingdom, and France. As of
October 5, 2015, the company operated 1,850        Chipotle Mexican Grill, Inc. is a public corporation
restaurants, including 17 Chipotle restaurants     and is traded on the New York Stock Exchange
outside the U.S. and 11 ShopHouse Southeast        (NYSE: CMG). As of September 30, 2015, the
Asian Kitchen restaurants. All of Chipotle’s       company reported revenue of $4.57 billion, net
restaurants are company-owned, rather than         income of $528.96 million, and a net worth of
franchised. While the number of stores and         more than $2.40 billion.
customers has grown, the Chipotle menu has
stayed simple with a few items; the idea being
“a few things, thousands of ways.”

The company was founded in 1993 by Steve             Thanks to a confluence of factors
Ellis and is based in Denver, Colorado. Chipotle     – such as the Food Network, the
is known for its large burritos, assembly line       Internet, millennials and celebrity
production, and use of natural ingredients. The      chefs – consumers have become
company has released a mission statement             more sophisticated about the food
called Food with Integrity, which highlights its     they’re eating. “Much of our marketing
efforts in using organic ingredients and serves
                                                     is aimed at making consumers
                                                     more curious about where their
more naturally raised meat than any other
                                                     food comes from and how it is
restaurant chain.
                                                     prepared,” Chipotle’s Chief Marketing
In 2015, Fortune named Chipotle one of the
                                                     Officer Mark Crumpacker said. “By
                                                     making complex issues about food
World’s Most Admired Companies and one
                                                     production more understandable –
of the World’s Most Innovative Companies.
                                                     even entertaining – we are reaching
FastCasual.com also named Chipotle #11 in the        people who have not typically been
Top 75 Movers and Shakers, citing incredible         tuned into these types of issues.”
same-store sales, double-digit growth, and           (FastCasual.com)
customer loyalty. The brand repeatedly is
voted a consumer favorite in a variety of
polls and has the highest millennial customer
loyalty, according to new research from

                                                                                                          Section 2 • Chipotle & Panera Bread • Deerfield Beach, FL 13
Lease Abstract
                                                                                          Tenant:                        Covelli Enterprises d/b/a: Panera Bread

                                                                                          Address:                       779 S Federal Highway, Deerfield Beach, FL

                                                                                          Building Size (SF):            4,100

                                                                                          Lot Size (Acres):              1.25 Acres

                                                                                          Pro Rata Share:                65.08%

                                                                                          Year Built:                    2014

                                                                                          Lease/Rent Commencement:       8/14/2014

                                                                                          Lease/Rent Expiration:         8/31/2024

                                                                                          Base Lease Term:               10 years
Subject Property
                                                                                          Base Lease Term Remaining:     8 years

       Rent Schedule                                                                      Annual Base Rent:              $131,200

                                                                                          Annual Base Rent PSF:          $32.00
                                              Annual      Monthly      Rent
           Years             Dates                                             Increase   Rental Increases:              12% increases every 5 years in base term
                                               Rent        Rent        PSF

                                                                                          Renewal Options:               4, 5-Year renewal options
             1-5      8/14/2014 - 8/31/2019   $131,200   $10,933.33   $32.00      -

                                                                                          Renewal Notice:                12 Months
            6-10      9/1/2019 - 8/31/2024    $146,944   $12,245.33   $35.84    12.0%
                                                                                          Renewal Option Increases:      10% at the beginning of each option
           11-15
                      9/1/2024 - 8/31/2029    $161,622   $13,468.50   $39.42    10.0%
         (Option 1)                                                                       Lease Type:                    Shopping Center NNN
           16-20
                      9/1/2029 - 8/31/2034    $177,817   $14,818.08   $43.37    10.0%     Landlord Responsibilities:     Roof, Structure, Parking Lot - Reimbursed by Tenant
         (Option 2)
           21-25                                                                                                         Gross Sales shall be reported by Tenant no later than
                      9/1/2034 - 8/31/2039    $195,570   $16,297.50   $47.70    10.0%     Financial/Sales Reporting:
         (Option 3)                                                                                                      the tenth (1Oth) day after the end of each month

           26-30                                                                          ROFR:                          None
                      9/1/2039 - 8/31/2044    $215,127   $17,927.25   $52.47    10.0%
         (Option 4)

                                                                                                                Section 2 • Chipotle & Panera Bread • Deerfield Beach, FL 14
Tenant Overview
                Panera      Bread        Company     Panera Bread is headquartered in St. Louis,
                (NASDAQ: PNRA) owns, operates        Missouri and as of March 31, 2015, the company
                and franchises retail bakery-cafes   operated over 1,900 bakery-cafes throughout
                in the United States and Canada.     the United States and Canada. As of September
                Panera operates through three        30, 2015, Panera had $2.66 billion in revenue,
segments: Bakery-Café Operations, Franchise          $154.6 million in net income and a net worth of
Operations, and Fresh Dough and Other                $573 million.
Product Operations. Panera runs its bakery-
cafes under the Panera Bread, Saint Louis Bread
Co, and Paradise Bakery & Café names. Each of
these offers fresh baked goods, made-to-order
sandwiches, soups, salads, pasta dishes, custom        Leading Franchisee: Panera Bread
                                                       is operated by Covelli Enterprises,
roasted coffees and other complementary
                                                       the single largest franchisee of
products through on-premise sales, as well as
                                                       Panera Bread (266 locations) and
providing catering services.
                                                       O’Charley’s restaurants and the 4th
                                                       largest franchisee in the nation.
Panera Bread has been the recipient of many
awards over the years, from Fortune’s 100
Fastest-Growing Companies to Zagat to Business
Week to Sandleman & Associates’ Awards of
Excellence. The most recent awards have been
Fast Company magazine’s # l Most Innovative
Companies of 2015 in Food for overhauling the
QSR experience with tech and service and #27
Most Innovative Company 2015 for using tech to
improve everything - including the food. They
are in the crowded quick service category which
has recently found digital religion, with Panera
leading them all with their Panera 2.0, which
includes innovations in their tech, cafe layout,
and even staffing bringing farreaching revisions
to how customers dine in and out, how food is
prepared and how it’s delivered.

                                                                                                       Section 2 • Chipotle & Panera Bread • Deerfield Beach, FL 15
Section Three

       Location Overview

                           SW

Subject Property
Location Overview
The City of Deerfield Beach is a thriving community in Broward County, Florida, located just
south of the Palm Beach County line. Deerfield Beach is a four-time winner of the National Blue-
Wave Award designation from the Clean Beach Council, based on its excellent water quality,
beach conditions, safety services, public information and habitat conservation policies. Situated
approximately 17 miles north of downtown Fort Lauderdale and 6 miles south of the affluent city
of Boca Raton, Deerfield Beach offers direct access to I-95, the Florida Turnpike, the Sawgrass
                                                                                                              Deerfield Beach, FL
Expressway as well as a Tri-Rail station and two freight railroads. The city is also approximately 15
minutes from Fort Lauderdale/Hollywood International Airport; 30 minutes from the Palm Beach
International Airport and 20 minutes from Port Everglades.

Deerfield Beach is home to nationally-recognized corporations and quality redevelopment
initiatives. Companies headquartered in Deerfield Beach include JM Family Enterprises, Don
King Productions, eDiets.com, Health Communications, List Industries, Moving Waters Industries
and MAPEI-Western Hemisphere. Major distribution centers for Publix, Rooms-to-Go, Double-
Eagle, National Brands and UPS are also located within the city’s limits.

Deerfield Beach boasts of a burgeoning research corridor along I-95 with the presence of the
University of Miami Sylvester Comprehensive Cancer Center and the Florida Atlantic Research &
Development Park. Deerfield Beach’s Community Redevelopment Agency, located in the eastern
end of the City, has fostered approximately $200 million in new private sector investment as well
as implemented over $10 million in public infrastructure improvements over the last 6 years.

The City of Deerfield Beach provides economic development and redevelopment services in                        Ocean Way, Deerfield Beach, FL
English, Spanish and Portuguese through its Office of Economic Development. Programs include
utility tax elimination, commercial façade funding, small business counseling and financing
referrals and participation with most county/state financial incentive initiatives.

Boca Raton is a city in Palm Beach County, Florida, incorporated in May 1925. In the 2010 census,
the city had a total population of 84,392; the 2012 population estimated by the U.S. Census
Bureau was 87,836. However, the majority of people with a Boca Raton postal address—about
200,000—do not actually reside within Boca Raton’s municipal boundaries. As a business center,
the city’s daytime population increases significantly.

In terms of both population and land area, Boca Raton is the largest city between West Palm
Beach and Pompano Beach in Broward County.

                                                                                                              Mizner Park, Boca Raton

                                                                                                        Section 3 • Chipotle & Panera Bread • Deerfield Beach, FL 17
Site Plan

            S . FE D E                                                                         W
                         R AL HIG
                                    HWAY (3
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                                                                                                                Jones Lang LaSalle
                                                               LOCATION OVERVIEW

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                                                           Section 3 • Chipotle & Panera Bread • Deerfield Beach, FL 18
DEERFIELD BEACH

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         VPD
                                    DEERFIELD BEACH AQUATIC CENTER

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                 SE 10TH STREET (19, 157 VPD)

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                          NE 54TH STREET

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                                                                                                           Section 3 • Chipotle & Panera Bread • Deerfield Beach, FL 19
Surrounding Retail

                     Section 3 • Chipotle & Panera Bread • Deerfield Beach, FL 20
Subject Property Photos

                          Section 3 • Chipotle & Panera Bread • Deerfield Beach, FL 21
Demographics
777 S Federal Hwy | Deerfield Beach, FL    0 - 1 mi.   0 - 3 mi.   0 - 5 mi.

Population

2015 Population                            16,670      99,336      204,437

2020 Population                            17,432      103,405     212,461

2000-2010 Annual Rate                      -0.15%      -0.12%      0.04%

2010-2015 Annual Rate                      0.28%       0.26%       0.30%

Households

2015 Total Households                      7,718       44,367      91,015

2020 Total Households                      8,055       46,126      94,503

2010-2015 Annual Rate                      0.27%       0.21%       0.24%

2015-2020 Annual Rate                      0.86%       0.78%       0.75%

Race and Ethnicity

2015 White Alone                           76.0%       70.0%       71.6%

2015 Black Alone                           14.4%       21.3%       19.5%

2015 American Indian/Alaska Native Alone   0.3%        0.2%        0.2%

2015 Asian Alone                           1.5%        1.5%        1.9%

2015 Pacific Islander Alone                0.0%        0.0%        0.0%

2015 Other Race                            4.6%        4.1%        4.0%

2015 Two or More Races                     3.3%        2.8%        2.7%

2015 Hispanic Origin (Any Race)            15.1%       16.2%       17.1%
                                                                                                                                              N
2015 Average Household Income              $63,908     $76,675     $74,111

                                                                               Section 3 • Chipotle & Panera Bread • Deerfield Beach, FL 22
Offered Exclusively by

Brad Feller
Senior Director
bfeller@stanjohnsonco.com
+1 312.240.0194                                                                         going beyond
Isaiah Harf
Director
iharf@stanjohnsonco.com
+1 312.777.2437

Blaise Bennett
Associate
bbennett@stanjohnsonco.com
+1 312.777.2449

Brandon Duff
Regional Director

In association with:
Jason Long
FL Lic #BK3302956

Stan Johnson Company
303 East Wacker Drive | Suite 1111
Chicago, IL 60601
P: +1 312.240.0127 | F: +1 312.240.0158

stanjohnsonco.com

                                          The information contained herein was obtained from sources believed reliable, however,
                                          Stan Johnson Company makes no guaranties, warranties or representations as to the
                                          completeness thereof. The presentation of this property for sale, rent or exchange is
                                          submitted subject to errors, omissions, change of price or conditions, or withdrawal
                                          without notices.
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