Chipotle, pei wei & zoes kitchen - top retail node in orlando - Capital Pacific
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chipotle, pei wei
& zoes kitchen
top retail node in orlando
offered as part of a portfolio:
click here for portfolio package
TROPHY NEW CONSTRUCTION STRIP CENTER
PAD TO SUPER TARGET, corporately backed leases
p [ www.CapitalPacific.com ]
4750 Millenia Plaza Way, Orlando, FL 32839 or Ma
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Trophy new construction strip center featuring three
ment highl corporate restaurants in the premier retail trade area of
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the ORLANDO MSA
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inve
The subject property is located in a high-growth submarket
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of Orlando, FL, the third largest metro area in the United
PRICE: $7,270,000 States. The property is just six miles from downtown Orlando
CAP: 5.75% and in close proximity to many of the area’s premier tourist
destinations.
Rentable SF. . . . . . . . . . . 8,200 SF An outparcel to a Super Target anchored center, Millenia Plaza
Current Rent. . . . . . . . . $51.60/SF is located in the heart of a robust retail node. The center is just
north of the Mall at Millenia, the #1 mall in the State of Florida
Lot size. . . . . . . . . . . . . . . 1.36 AC
and one of the strongest-performing malls in the country.
year built . . . . . . . . . . . . 2016
In addition to the subject property, the center includes a two-
tenant retail building and a freestanding Verizon. Each lease
for the center is corporately backed and all three buildings
mall at millenia: top 10 mall in us are being offered for sale individually or as a portfolio. Please
click here for the portfolio offering memorandum.
sales volume psf: $1,360
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. Buyer must verify the information and bears all risk for any inaccuracies.
Listing Team Contact Info
chris kostanecki zeb ripple
ck@capitalpacific.com | (415) 274-2701 zripple@capitalpacific.com | (415) 274-2702
CA BRE# 01002010 CA BRE# 01242540
chris peters jack navarra
cpeters@capitalpacific.com | (415) 274-2703 jnavarra@capitalpacific.com | (415) 274-2705
CA BRE# 01339983 CA BRE# 01909630
Listed in conjunction with FL Licensed Broker: Capital Pacific collaborates.
Andrew T. Knight | New England Commercial Brokerage Click Here to meet the rest of
Andrew@NECBrokerage.com | (860) 648-1600 our San Francisco team.
chipotle, pei wei & zoes kitchen | 2
core characteristics
The subject property is a 100% occupied, freestanding building and STRONG DEMOGRAPHICS
boasts an impressive lineup of national restaurant tenants, all of which are Millenia Plaza is well located in an affluent, densely populated suburb of
on long-term, corporately backed leases. This offering represents the rare Orlando. The subject property boasts impressive demographics of 243,00
opportunity for an investor to acquire an asset with the combination of people in a five mile radius with average household incomes in excess of
strong credit, long-term leases, and attractive rent increases. $58,000
Lease Highlights EXCELLENT RETAIL MARKET
• All tenants feature 10-year net leases The subject property is situated in the center of a booming retail trade area.
• 10% increases every 5 years in primary term and options Immediately to the south of Millenia Plaza is the Mall at Millenia, the #1
• All leases are either signed by corporate tenants or feature a corporate mall in the state of Florida (anchored by Neiman Marcus, Bloomingdale’s,
guaranty and Macy’s). Other high-end tenants in the mall include Chanel, Gucci,
Prada, Louis Vuitton, Tiffany & Co, Burberry, and Jimmy Choo. The Mall at
PROMINENT, HIGH VISIBILITY LOCATION Millenia draws from a trade area of 1.5 million people with a potential for
The subject property is situated at the gateway to Millenia Plaza. The retail expenditures north of $5 billion.
property benefits from excellent visibility along Millenia Blvd and has
dedicated access from the signalized entrance to the larger center. The ORLANDO LOCAL ECONOMY
property stands to benefit from recent development in the area, which Orlando is the 3rd largest metro area and one of the most popular tourist
will further enhance traffic. The trade area can be accessed by Interstate 4 destinations in the US. The Orlando area averages more than 62 million
(165,000 ADT), a primary highway that also provides access to the area’s visitors who contribute $33 billion to the local economy each year. In
many tourist destinations. addition to tourism, Orlando features a booming technology sector. With
an impressive 53,000 employees, Orlando’s $13.4 billion tech industry
makes it one of the fastest-growing job markets in the country. The Orlando
economy is also expecting a big boost from the life science sector. The
100% occupied with an impressive lineup of area’s new life science development, Medical City, will consist of 650 acres
and create 30,000 jobs. The development’s impact on the local economy
national retailers on long-term leases is estimated at $7.6 billion over the next decade.
chipotle, pei wei & zoes kitchen | 3
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. Buyer must verify the information and bears all risk for any inaccuracies.
zoomed-out aerial Millenia plaza is situated in the epicenter of orlando’s top retail node
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chipotle, pei wei & zoes kitchen | 4
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. Buyer must verify the information and bears all risk for any inaccuracies.
zoomed-in aerial Located just north of the top-performing mall in Florida
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Millenia Plaza Way
Millenia Shopping Center 4
400
Millenia Boulevard
Conroy Road
chipotle, pei wei & zoes kitchen | 5
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. Buyer must verify the information and bears all risk for any inaccuracies.
income & expense
Current
Price: $7,270,000
Capitalization Rate: 5.75%
Price Per Square Foot: $886.59
Total Leased (SF): 100% 8,200
Total Vacant (SF): 0.00% 0
Total Rentable Area (SF): 100% 8,200
INCOME Per Square Foot
Scheduled Rent* $51.60 $423,100
EFFECTIVE GROSS INCOME $423,100
EXPENSE
CapEx Reserves ($0.10) ($820)
Management Fee (1.0%) ($0.52) ($4,231)
Utility Expenses NNN
Insurance NNN
Property Taxes NNN
TOTAL OPERATING EXPENSES ($0.62) ($5,051)
NET OPERATING INCOME $418,049
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. Buyer must verify the information and bears all risk for any inaccuracies.
chipotle, pei wei & zoes kitchen | 6
rent roll
TENANT INFO LEASE TERMS RENT SUMMARY
Monthly
Tenant Sq. Ft. Unit Term Annual Rent Rent/FT
Rent
Zoe’s Kitchen 2,800 Pad B 1 5 $11,433 $137,200 $49.00
6 10 $12,577 $150,920 $53.90
Option 1 11 15 $13,834 $166,012 $59.29
Option 2 16 20 $15,218 $182,616 $65.22
Option 3 21 25 $16,739 $200,872 $71.74
Pei Wei 3,000 Pad B 1 5 $12,625 $151,500 $50.50
6 10 $13,888 $166,650 $55.55
Option 1 11 15 $15,278 $183,330 $61.11
Option 2 16 20 $16,805 $201,660 $67.22
Chipotle 2,400 Pad B 1 5 $11,200 $134,400 $56.00
6 10 $12,320 $147,840 $61.60
Option 1 11 15 $13,552 $162,624 $67.76
Option 2 16 20 $14,908 $178,896 $74.54
Option 3 21 25 $16,398 $196,776 $81.99
Option 4 26 30 $18,038 $216,456 $90.19
Occupied 8,200 100% $35,258 $423,100 $51.60
Vacant 0 0%
Current Totals: 8,200 100%
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. Buyer must verify the information and bears all risk for any inaccuracies.
chipotle, pei wei & zoes kitchen | 7
millenia plaza lots 1 & 3
offered as part of a portfolio.
click here for portfolio package
chipotle, pei wei & zoes kitchen | 8
The three outparcels of Millenia Plaza are being offered individually
site plan as well as a portfolio. Please click here for portfolio package
Site Plan Key
MI
Parcel outline:
LLE
Land Area: 1.36 AC
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PL
Building Area: 8,200 sf
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Ingress/Egress:
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ENIA
MILL
This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties,
expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. chipotle, pei wei & zoes kitchen | 9
surrounding retail
Mall at Millenia – Top 10 Mall in
the US Trade Area ConsistING of
1.5 Million People WITH Potential
Expenditure of $5 Billion
chipotle, pei wei & zoes kitchen | 10surrounding retail
Located at epicenter of Orlando’s
premier retail trade area
chipotle, pei wei & zoes kitchen | 11surrounding retail
Millenia plaza
chipotle, pei wei & zoes kitchen | 12surrounding retail
Millenia plaza
chipotle, pei wei & zoes kitchen | 13tenants
zoes kitchen pei wei asian diner chipotle
Zoës Kitchen (NYSE: ZOES), headquarted in Plano, Pei Wei is an American restaurant chain with Chipotle was ranked #20 on Forbes list of the
TX, has 171 locations across 17 states serving 190 locations in the U.S. and five international World’s Most Innovative Companies in 2014.
Mediterranean inspired comfort food with made- locations. The menu offers different items and the The company has over 1,724 locations, with
from-scratch recipes using fresh ingredients. atmosphere offers a different experience than restaurants in 43 states, the District of Columbia,
Their menu includes a variety of chicken salad, P.F. Chang’s, the parent company, by featuring Canada, England, Germany and France. Chipotle
pasta salad, pita, and grilled chicken sandwiches. counter service where customers order from a restaurants are company-owned rather than
cashier, and the food is brought out to the table. franchised, and they have over 45,340 employees.
At Zoës, customers can dine in, order online or
call ahead for takeout; purchase a variety of fully The restaurant chain was created in 2000 by P. Chipotle went public on the New York Stock
prepared Mediterranean Family Meals; pick up F. Chang’s China Bistro to compete in the fast- Exchange in 2006, and the stock rose exactly
side dishes by the pint; and take advantage of growing fast casual restaurant segment while P. 100% on the first day, resulting in the best U.S.-
the extensive catering menu, which includes box F. Chang’s remained in the full-service restaurant based IPO in six years, and the second-best IPO
lunches, party trays and meals for large groups segment. The first location was opened in for a restaurant after Boston Market. In 2015,
that can be delivered locally. Scottsdale in 2000. By 2010, the company had the net income was $475.6 million and the total
168 locations, mostly in California, Texas, Arizona revenue was $4.50 billion a 6.8% and 9% increase
and Florida, and a growing presence in the from 2014 respectively.
Northeast and Midwest.
chipotle, pei wei & zoes kitchen | 14
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. Buyer must verify the information and bears all risk for any inaccuracies.zoes kitchen, pei wei & chipotle location
demographics & map 35
,27 zoes kitchen,
9 DAILY
pei wei & chipotle
10,000 DAILY
DAILY
MILLENIA BLVD
Population
00
1-Mile 3-Mile 5-Mile
1,0
16
2010 9,080 109,521 228,207
2015 10,448 120,890 249,194
2021 11,560 132,382 271,175
2016 Household incomes
1-Mile 3-Mile 5-Mile
regional map
Average $48,892 $45,049 $58,710
Median $39,084 $34,339 $39,512
Top Employers in orlando, fl
Walt Disney World Resort
Orange County Public Schools
State of Florida Government downtown
Adventist Health System orlando
Florida Hospital
Walmart Stores Inc. 13 MIN
Orlando Regional Healthcare System 6 MILES
Universal Studios Orlando
chipotle, pei wei & zoes kitchen | 15
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. Buyer must verify the information and bears all risk for any
inaccuracies.orlando, fl
Orlando is the center of the Orlando metropolitan area. With a population of 2.3 million
local developments:
people, the MSA is the 24th largest metropolitan area in the country, the sixth largest in the Crescent Communities, a leading
Southern states, and the third largest in Florida. developer in Orlando for 20+ years,
The city is known as the “Theme Park Capital of the World,” drawing more than 62 million announced their purchase of a 4.6
visitors to its tourist attractions in 2014. Walt Disney World, located approximately 21 miles acre site slated for a walkable mixed-
southwest of Downtown Orlando in Bay Lake, is the backbone of the tourist industry. The use development in downtown
Universal Orlando Resort, SeaWorld, Gatorland, and Wet ‘n Wild are also major attractions. Orlando in December 2016.
In addition, Orlando is known as a industrial and high-tech center. The metro area has a $13.4 Earth Fare will anchor the project
billion technology industry employing 53,000 people, and is a nationally recognized cluster and provide Downtown Orlando
of innovation in digital media, agricultural technology, aviation, aerospace, and software with its first organic grocery store.
design. More than 150 international companies, representing approximately 20 countries, The development also includes a six-
have facilities in Metro Orlando. story luxury community featuring
Orlando also has the seventh largest research park in the country, Central Florida Research 375 apartment residences and 7,000
Park. At over 1,025 acres, the research park is home to over 120 companies, employs more square feet of additional restaurant
than 8,500 people, and is the hub of the nation’s military simulation and training programs. and retail space.
Orlando continues to grow, and recent projects include a November 2014 $207 million
reconstruction project for renovations to the Citrus Bowl Stadium (65,000+ capacity), which
is positioned to host NFL and NCAA football games. Additionally, the development of the
650-acre Medical City and Lake Nona life sciences cluster will create 30,000 jobs and have a
$7 .6 billion impact within the next decade. All Aboard Florida (2016) is an intercity passenger
rail system connecting Miami to Orlando.
[ downtown orlando ] chipotle, pei wei & zoes kitchen | 16
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. Buyer must verify the information and bears all risk for any inaccuracies.A unique HUMAN
RESULTS-DRIVEN The capital pacific experience - our daily commitment to our clients
client experience [ www.CapitalPacific.com ]
Chris Kostanecki zeb ripple Capital Pacific collaborates. Click Here to
ck@capitalpacific.com | (415) 274-2701 zripple@capitalpacific.com | (415) 274-2702 meet the rest of our San Francisco team.
CA BRE# 01002010 CA BRE# 01242540
john andreini dave lucas
chris peters jack navarra joe caccamo rick sanner
cpeters@capitalpacific.com | (415) 274-2703 jnavarra@capitalpacific.com | (415) 274-2705 zandy smith gregg steele
CA BRE# 01339983 CA BRE# 01909630
karla zens aaron susman
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