TD Bank Coconut Creek, Florida $6,580,000 + 4.35% - Top-Performing TD Bank Branch in Broward County - Ground + Space
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TD Bank
Coconut Creek, Florida
$6,580,000 + 4.35%
Top-Performing TD Bank
Branch in Broward County
Michael Zimmerman, Principal
919.391.9901 + michael@groundandspacepartners.com
+ Top Performer
This TD Bank branch is one of
the top performing branches
in Broward County, with over
$117 million in deposits
(an increase of 148 percent
since 2013).
+ Prime Investment
There are no landlord
responsibilities on this long-
term Ground lease with
multiple options to renew and
scheduled rental increases.
+ Connected Site
The site has easy access to a
combined population of more
than 5.6 million residents and
sits at a prominent corner
location with over 77,500
cars passing daily.
TD Bank + Investment Highlights groundandspacepartners.com + 1
Investment Summary
Tenant TD Bank, N.A.
DBA TD Bank
Address 6700 North State Road 7
Coconut Creek, FL 33073
Guarantor Corporate
Asking Price $6,580,000
Cap Rate 4.35%
4.79% Base Term Avg.
Annual Rent $286,000
Year 9 of Base Term
Deposits $117.8 Million (June 2017)
148% Increase Since 2013
Year Built 2010
Building Size ± 3,960 SF
Land Size ± 0.896 AC
Features 2 Drive-Thru Lanes
24-Hour ATM
Lease Term 20 Years
Lease Type Ground
Commenced September 17, 2009
Expires September 16, 2029
Increases 10% Every 5 Years (Base Term)
+ FMRV in Options
Options 4 x 5-Year Options
Landlord No Responsibilities
TD Bank + Investment Summary groundandspacepartners.com + 2
Rent Schedule
Years Annual Rent Increase
1–5 (Base Term) $260,000 ($65.66/SF) N/A
6–10 (Base Term) $286,000 ($72.22/SF) 10.0%
11–15 (Base Term) $314,600 ($79.44/SF) 10.0%
16–20 (Base Term) $346,060 ($87.39/SF) 10.0%
21–25 (Option 1) Fair Market Rental Value N/A
26–30 (Option 2) Fair Market Rental Value N/A
31–35 (Option 3) Fair Market Rental Value N/A
36–40 (Option 4) Fair Market Rental Value N/A
Right of First Refusal to Lease
Provided that Tenant has exercised its option to renew this lease for the Fourth
Renewal Period, if at any time during the Fourth Renewal Period through the
date which is 60 days following the expiration of the Fourth Renewal Period,
Landlord desires to accept a bona fide offer from a third party to lease the
Demised Premises for a period effective after the Fourth Renewal Period, then
Landlord shall give Tenant notice of such offer and Tenant shall have the right to
lease the Premises under the terms and conditions contained therein by notice
given to Landlord within 15 business days following Tenant’s receipt of the First
Refusal Notice.
Fair Market Rental Value
The Fair Market Rental Value (FMRV) for each Renewal Period shall be the fair
market rental value of the space comparable to the Demised Premises in the
neighborhood (expressed as a constant annual Fixed Rent for the Renewal Period
in question, taking into account (a) that there shall be no brokerage commission
payable, (b) that there shall be no free rent period or other rent concession,
(c) that there shall be no Landlord work contribution, (d) that there shall be no
period during which the Demised Premises remain unoccupied and during which
rent will not be paid, (e) the then existing condition and state of repair of the
Demised Premises and (f) all other relevant factors and circumstances, except
that the value of Tenant’s leasehold improvements shall not be taken into account
in the FMRV calculation.
TD Bank + Rent Schedule groundandspacepartners.com + 3
TD Bank + Aerial groundandspacepartners.com + 4
Parent Company
TD Bank Group
Stock Symbol
NYSE/TSE: TD
Total Employees
TD Bank 26,000
TD Bank is one of the 10 largest banks in the
United States with approximately 26,000 Total Locations
employees and an extensive network of about 1,250
1,250 retail locations throughout the Northeast,
2018 Assets
Mid-Atlantic, Metro D.C., the Carolinas and Florida.
$313 Billion
TD Bank is a member of the TD Bank Group and
is a subsidiary of The Toronto-Dominion Bank of Credit Rating
Toronto, Canada. In September 2017, TD Bank S&P: AA- (Stable)
acquired Scottrade Bank, and during Q2 2018,
TD Bank reported U.S. Retail Bank net income
increases of 20 percent.
TD Bank + Tenant Profile groundandspacepartners.com + 5
Customer Satisfaction
TD Bank ranked
highest in retail banking
TD Bank Group customer satisfaction in
Headquartered in Toronto, Canada, The Florida by J.D. Power.
Toronto-Dominion Bank and its subsidiaries
are known as TD Bank Group (TD). TD offers a Best Big Bank
TD Bank was named
full range of financial services and products to
by Money magazine as
more than 25 million customers worldwide.
the “Best Big Bank” in
TD has $1.3 trillion (CDN) in assets as of April America in 2016.
2018, and TD ranks among the world’s leading
online financial services firms, with 12 million
active online and mobile customers.
TD Bank + Tenant Profile groundandspacepartners.com + 6
TD Bank
Market Overview
Coconut Creek, Florida
TD Bank + Market Overview groundandspacepartners.com + 7
West Hillsboro Boulevard 25,500 ADT
63,500 ADT
44,000 ADT
Johnson Road 14,000 ADT
U.S. 441 South
Lyons Road
TD Bank + Aerial groundandspacepartners.com + 8
40,000 ADT
44,000 ADT
63,500 ADT
25,500 ADT 45,500 ADT
109,100 ADT
Distribution Center
ADT 42,000 ADT
,5 00
85
90,100 ADT
45,000 ADT
93,500 ADT
West Boca Medical
Center Emergency
Department
41,000 ADT
55,500 ADT
59,000 ADT
Butterfly World
Northwest Medical
Center
TD Bank + Aerial groundandspacepartners.com + 9Seminole Casino Coconut Creek
2.6 Miles from TD Bank Site
Seminole Casino offers the market’s most fully-
integrated, energized, stylish and upscale casino
experience that features 2,000 Las Vegas-style slots
and more than 70 live table games. Under its roof,
the casino houses the region’s most sought-after
steakhouse (NYY Steak) and a 1,200-seat
entertainment venue.
TD Bank + Area Attractions groundandspacepartners.com + 10The Promenade at Coconut Creek
3.3 Miles from TD Bank Site
This upscale open-air shopping center in Broward
County opened in November 2008 and features over
36 stores and boutiques, 14 restaurants and Silverspot
Cinema. Tenants include Jos. A. Bank, Starbucks, Lane
Bryant and Chico’s, among others. Notably, a 75,000
square foot Class A office building exists on the site,
with tenants including Allstate.
TD Bank + Area Attractions groundandspacepartners.com + 11Butterfly World
6.4 Miles from TD Bank Site
Opened in 1998, Butterfly World has grown
to become the largest butterfly park in the
world, housing more than 20,000 live
butterflies. The site encompasses three acres
of butterfly aviaries, botanical gardens and
the working butterfly farm and research
center that founder Ronald Boender worked
years to establish.
TD Bank + Area Attractions groundandspacepartners.com + 12Boca Raton
Deerfield Beach
ADT
+ Central Location
212,000
Pompano Beach
Airpark
Coconut Creek sits centrally Coral Springs
within the Miami-Dade,
Broward and Palm Beach tri- Florida Turnpike
35M+ Annual Visitors
Pompano Beach
county area. This is Florida’s 3rd Busiest Toll Road
Fort Lauderdale
T
AD
Executive Airport
most populous region, having
00
9,4
11
a combined population of 5.6
T
AD
00
million people.
6,0
30
Fort Lauderdale
+ Business-Friendly 126,0
00 A
DT
209,0
22 Miles
The site is about 22 miles from 00 A
DT
the heart of Fort Lauderdale
144,600 ADT
and its world-famous beaches.
160,000 ADT
This area has established itself 27 Miles From Site
32.5M+ Annual Passengers
as a world-class international Pembroke Pines Hollywood
business center with a diverse
272,000 ADT
economy that supports a Miramar
range of industries, from
tourism and finance to Miami-Opa Locka
Executive Airport
Miami
insurance and real estate. 45 Miles
TD Bank + Regional Overview groundandspacepartners.com + 13Demographics
Demographics 1 Mile 3 Miles 5 Miles
Estimated Population 11,323 91,847 318,209
2022 Projected Population 12,277 119,990 335,774
2010 Census Population 9,351 105,782 294,194
2000 Census Population 8,296 91,847 273,799
Population
Projected Annual Growth (2017–2022) 1.6% 1.1% 1.1%
Estimated Households 4,002 41,221 126,236
2022 Projected Households 4,319 43,266 132,353
2010 Census Households 3,353 38,852 118,570
2000 Census Households 3,077 34,524 114,091
Projected Annual Growth (2017–2022) 1.5% 1.0% 1.0%
Est. HH Income $200,000+ 9.0% 6.7% 6.4%
Est. HH Income $150,000-$199,999 9.8% 7.3% 6.2%
Est. HH Income $100,000–$149,999 19.6% 17.2% 14.4%
Est. HH Income $75,000-$99,999 14.1% 14.7% 12.0%
Household Income
Est. HH Income $50,000–$74,999 20.8% 18.8% 18.5%
Est. HH Income $35,000–$49,999 10.2% 13.4% 13.4%
Est. HH Income $25,000–$34,999 6.2% 7.9% 9.5%
Est. HH Income $15,000–$24,999 4.0% 7.8% 10.1%
Est. HH Income Under $15,000 6.2% 7.8% 10.1%
Est. Average Household Income $103,715 $90,810 $83,811
Est. Median Household Income $78,432 $67,749 $57,805
Est. White 73.6% 70.9% 72.5%
Race/Ethnicity Est. Black 12.5% 14.7% 15.2%
Est. Asian or Pacific Islander 7.1% 5.3% 4.4%
Est. American Indian or Alaska Native 0.1% 0.2% 0.2%
Est. Other or Multiple Races 6.7% 8.8% 7.7%
Est. Hispanic Population 23.9% 25.3% 23.2%
Texas Roadhouse + Demographics groundandspacepartners.com + 14Contact Us Michael Zimmerman P: 919.391.9901 groundandspacepartners.com michael@groundandspacepartners.com The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Ground + Space and should not be made available to any other person or entity without the written consent of Ground + Space. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Ground + Space has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Ground + Space has not verified, and will not verify, any of the information contained herein, nor has Ground + Space conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
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