This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. For more information, contact: Robert James, Managing Director 280 Park Avenue, 11 th Floor, New York, NY 10017 [email protected]Phone 212-972-7457 Fax 212-972-7496 www.kimcoexchangeplace.com Investment Opportunity Kimco Exchange Place is a subsidiary of Kimco Realty Corporation. Property Summary: This 59,936 +/- sf building is a former Albertsons Supermarket. Located across the street is a 265,000 +/- sf Big Lots! anchored shopping center. Other tenants in the immediate area include Burger King, Arby’s, Subway, Family Dollar, Dollar General and Bank Of America among others. Traffic counts on West Colonial Dr. and North Kirkman Rd are approximately 43,788 and 28,000 vpd, respectively. Population within a 3, 5 and 7 mile radius is 113,220 – 266,203 – 442,517 respectively. Roughly half of the building is occupied by Aldi (28,765 sf) while the balance is occupied by dd’s Discount’s (25,103 sf), a Ross Stores concept (Ross is on the lease) and Legacy Liquors (2,700 sf). In addition, there is 3,368 sf of vacant space which is included in the sale. Price and Cap : We offer this property at $1,800,000 which is a 13.86% cap rate on NOI of $249,410. NOI is comprised of $155,000 in base rent from Aldi plus $118,750 in base rent from DD’s Discount and $40,500 in base rent from Legacy Liquors less $64,840 of building and land rent which the buyer will pay the fee owner. Price equates to a 17.17% discount rate (IRR) on NOI over the 18 years of control. Tenants reimburse all property level expenses. Please note, the fee in the land is not for sale. Tenant: Aldi Group (private): How has discount food retailer ALDI Group become one of the world's biggest grocery chains, running about 8,500 stores worldwide. By offering deeply discounted prices on about 1,300 popular food items (a typical grocery store has 30,000). ALDI (short for "Albrecht Discounts") carries mostly private-label items, displaying them on pallets rather than shelves. ALDI has about 900 stores in more than 25 US states, but Germany (where ALDI has a network of some 4,200 stores) accounts for about two-thirds of sales. Brothers and co-founders Theo and Karl Albrecht own the company. Ross Dress For Less (NASDQ: ROST / S&P:BBB) d/b/a dd’s Discounts: Ross Stores, Inc. and its subsidiaries operate two chains of off-price retail apparel and home accessories stores in the US, offering branded & designer apparel, footwear, and accessories for the entire family, gift items, linens and other home- related merchandise. Its merchandise offerings include small furniture and furniture accents, educational toys and games, luggage, gourmet food and cookware, watches, sporting goods, and fine jewelry. As of February 2, 2008, the company operated 890 stores, including 838 Ross stores and 52 dd's discounts stores. DD’s discounts is being aimed at bargain- hunting shoppers. The stores will carry a mix of brands seen in the likes of Ross Stores, Wal-Mart and moderately priced department stores such as Sears & JC Penney. Ross expects to open 10 new dd’s discount stores in the second half of 2008 throughout the West Coast. A national rollout is expected in the near future. A spokesperson for Ross is quoted as saying that the concept has long term growth opportunities and could potentially operate at least 500 locations. Typical stores will average approx. 25,000 sf with preferred sites in smaller, densely populated neighborhood areas and urban shopping centers. Lease Type: This is an absolute triple net sandwich leasehold. Owner of the sandwich leasehold has absolutely no maintenance, repair or replacement responsibility for the building or land, such responsibility being solely that of the fee owner and tenants. Tenants reimburses sandwich for tax, CAM and insurance and the sandwich interest passes these onto the fee owner. Aldi & Ross Stores NNN Sandwich Leasehold 5524 West Colonial Dr. – Orlando, FL
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This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
Property Summary:This 59,936 +/- sf building is a former Albertsons Supermarket. Located across the street is a 265,000 +/- sf Big Lots! anchored shopping center. Other tenants in the immediate area include Burger King, Arby’s, Subway, Family Dollar, Dollar General and Bank Of America among others. Traffic counts on West Colonial Dr. and North Kirkman Rd are approximately 43,788 and 28,000 vpd, respectively. Population within a 3, 5 and 7 mile radius is 113,220 – 266,203 – 442,517 respectively. Roughly half of the building is occupied by Aldi (28,765 sf) while the balance is occupied by dd’s Discount’s (25,103 sf), a Ross Stores concept (Ross is on the lease) and Legacy Liquors (2,700 sf). In addition, there is 3,368 sf of vacant space which is included in the sale.
Price and Cap: We offer this property at $1,800,000 which is a 13.86% cap rate on NOI of $249,410. NOI is comprised of $155,000 in base rent from Aldi plus $118,750 in base rent from DD’s Discount and $40,500 in base rent from Legacy Liquors less $64,840 of building and land rent which the buyer will pay the fee owner. Price equates to a 17.17% discount rate (IRR) on NOI over the 18 years of control. Tenants reimburse all property level expenses. Please note, the fee in the land is not for sale.
Tenant:Aldi Group (private):How has discount food retailer ALDI Group become one of the world's biggest grocery chains, running about 8,500 stores worldwide. By offering deeply discounted prices on about 1,300 popular food items (a typical grocery store has 30,000). ALDI (short for "Albrecht Discounts") carries mostly private-label items, displaying them on pallets rather than shelves. ALDI has about 900 stores in more than 25 US states, but Germany (where ALDI has a network of some 4,200 stores) accounts for about two-thirds of sales. Brothers and co-founders Theo and Karl Albrecht own the company.
Ross Dress For Less (NASDQ: ROST / S&P:BBB) d/b/a dd’s Discounts:Ross Stores, Inc. and its subsidiaries operate two chains of off-price retail apparel and home accessories stores in the US, offering branded & designer apparel, footwear, and accessories for the entire family, gift items, linens and other home-related merchandise. Its merchandise offerings include small furniture and furniture accents, educational toys and games, luggage, gourmet food and cookware, watches, sporting goods, and fine jewelry. As of February 2, 2008, the company operated 890 stores, including 838 Ross stores and 52 dd's discounts stores. DD’s discounts is being aimed at bargain-hunting shoppers. The stores will carry a mix of brands seen in the likes of Ross Stores, Wal-Mart and moderately priced department stores such as Sears & JC Penney. Ross expects to open 10 new dd’s discount stores in the second half of 2008 throughout the West Coast. A national rollout is expected in the near future. A spokesperson for Ross is quoted as saying that the concept has long term growth opportunities and could potentially operate at least 500 locations. Typical stores will average approx. 25,000 sf with preferred sites in smaller, densely populated neighborhood areas and urban shopping centers.
Lease Type:This is an absolute triple net sandwich leasehold. Owner of the sandwich leasehold has absolutely no maintenance, repair or replacement responsibility for the building or land, such responsibility being solely that of the fee owner and tenants. Tenants reimburses sandwich for tax, CAM and insurance and the sandwich interest passes these onto the fee owner.
Property Summary:This 59,936 +/- sf building is a former Albertsons Supermarket. Located across the street is a 265,000 +/- sf Big Lots! anchored shopping center. Other tenants in the immediate area include Burger King, Arby’s, Subway, Family Dollar, Dollar General and Bank Of America among others. Traffic counts on West Colonial Dr. and North Kirkman Rd are approximately 43,788 and 28,000 vpd, respectively. Population within a 3, 5 and 7 mile radius is 113,220 – 266,203 – 442,517 respectively. Roughly half of the building is occupied by Aldi (28,765 sf) while the balance is occupied by dd’s Discount’s (25,103 sf), a Ross Stores concept (Ross is on the lease) and Legacy Liquors (2,700 sf). In addition, there is 3,368 sf of vacant space which is included in the sale.
Price and Cap: We offer this property at $1,800,000 which is a 13.86% cap rate on NOI of $249,410. NOI is comprised of $155,000 in base rent from Aldi plus $118,750 in base rent from DD’s Discount and $40,500 in base rent from Legacy Liquors less $64,840 of building and land rent which the buyer will pay the fee owner. Price equates to a 17.17% discount rate (IRR) on NOI over the 18 years of control. Tenants reimburse all property level expenses. Please note, the fee in the land is not for sale.
Tenant:Aldi Group (private):How has discount food retailer ALDI Group become one of the world's biggest grocery chains, running about 8,500 stores worldwide. By offering deeply discounted prices on about 1,300 popular food items (a typical grocery store has 30,000). ALDI (short for "Albrecht Discounts") carries mostly private-label items, displaying them on pallets rather than shelves. ALDI has about 900 stores in more than 25 US states, but Germany (where ALDI has a network of some 4,200 stores) accounts for about two-thirds of sales. Brothers and co-founders Theo and Karl Albrecht own the company.
Ross Dress For Less (NASDQ: ROST / S&P:BBB) d/b/a dd’s Discounts:Ross Stores, Inc. and its subsidiaries operate two chains of off-price retail apparel and home accessories stores in the US, offering branded & designer apparel, footwear, and accessories for the entire family, gift items, linens and other home-related merchandise. Its merchandise offerings include small furniture and furniture accents, educational toys and games, luggage, gourmet food and cookware, watches, sporting goods, and fine jewelry. As of February 2, 2008, the company operated 890 stores, including 838 Ross stores and 52 dd's discounts stores. DD’s discounts is being aimed at bargain-hunting shoppers. The stores will carry a mix of brands seen in the likes of Ross Stores, Wal-Mart and moderately priced department stores such as Sears & JC Penney. Ross expects to open 10 new dd’s discount stores in the second half of 2008 throughout the West Coast. A national rollout is expected in the near future. A spokesperson for Ross is quoted as saying that the concept has long term growth opportunities and could potentially operate at least 500 locations. Typical stores will average approx. 25,000 sf with preferred sites in smaller, densely populated neighborhood areas and urban shopping centers.
Lease Type:This is an absolute triple net sandwich leasehold. Owner of the sandwich leasehold has absolutely no maintenance, repair or replacement responsibility for the building or land, such responsibility being solely that of the fee owner and tenants. Tenants reimburses sandwich for tax, CAM and insurance and the sandwich interest passes these onto the fee owner.
Aldi & Ross StoresNNN Sandwich Leasehold
5524 West Colonial Dr. – Orlando, FL
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
Tenant Aldi / DD's Discount / Legacy Liquors / VacantMax Term (Underlying Lease) 18 yrs 04/30/2026Primary Sublease 8 yrs Apr-2016Years Extra ( on top of sublease) 10 yrs
Leasehold Sublease Sublease Sublease Sublease NOI Net CFTenant Aldi DD's Discount Legacy Liquors VacantCurrent Expiration 4/30/2011 4/30/2016 4/30/2016 5/31/2012Options 3 x 5 2 x 5 2 x 5 2 x 5 & 1 x 4Square Footage 59,936 28,765 25,103 2,700 3,368
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
Former Albertsons _
VAC
AN
T
VACANT - 3,368 sf
VACANT 3,368 sf
Legacy Liquors
Legacy Liquors
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
Legacy Liquors
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
Subject Property
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
Traffic Counts
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
1 Mile Competition Map
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
30 Minute Drive Time
This information has been obtained from sources deemed reliable, however Kimco does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
For more information, contact:Robert James, Managing Director
Kimco Exchange Place is a subsidiary of Kimco Realty Corporation.
DEMOGRAPHIC PROFILE2000 Census, 2007 Estimates & 2012 ProjectionsCalculated using Proportional Block Groups
Aug-08
3.00 mi radius 5.00 mi radius 7.00 mi radius
2007 Estimated Population 113,220 266,203 442,5172012 Projected Population 120,788 285,770 473,5202000 Census Population 102,864 239,596 400,3911990 Census Population 79,735 186,912 323,693Historical Annual Growth 1990 to 2007 2.5% 2.5% 2.2%Projected Annual Growth 2007 to 2012 1.3% 1.5% 1.4%
2007 Est. Households 40,528 101,030 172,591 2012 Est. Households 44,000 110,105 187,120 2000 Census Households 35,442 87,885 151,468 1990 Census Households 27,477 69,382 124,217 Historical Annual Growth 1990 to 2007 2.8% 2.7% 2.3%Projected Annual Growth 2007 to 2012 1.7% 1.8% 1.7%
2007 Population 0 to 9 Years 17.1% 15.7% 15.0%2007 Population 10 to 19 Years 16.0% 14.3% 13.7%2007 Population 20 to 24 Years 6.8% 6.7% 6.4%2007 Population 25 to 44 Years 29.3% 31.3% 31.1%2007 Population 45 to 59 Years 18.1% 19.0% 19.7%2007 Population 60 to 74 Years 9.2% 9.1% 9.6%2007 Population 75 Years Plus 3.5% 3.9% 4.4%2007 Est. Median Age 31.1 32.9 34.1
2007 Male Population 48.1% 49.3% 49.5%2007 Female Population 51.9% 50.7% 50.5%Married Base (15yrs+) 84,426 204,787 344,879Never Married 35.6% 33.5% 31.8%Now Married 39.4% 41.3% 43.4%Separated, Divorced or Widowed 25.0% 25.2% 24.8%Households with Kids 36.1% 31.7% 30.2%Average Household Size 2.8 2.6 2.5
2007 Est. HH Income $200,000 or More 1.7% 2.6% 3.7%2007 Est. HH Income $150,000 to 199,999 1.7% 2.3% 2.9%2007 Est. HH Income $100,000 to 149,999 7.6% 9.0% 10.0%2007 Est. HH Income $75,000 to 99,999 10.1% 11.0% 11.2%2007 Est. HH Income $50,000 to 74,999 20.8% 20.5% 19.9%2007 Est. HH Income $35,000 to 49,999 17.0% 16.7% 16.2%2007 Est. HH Income $25,000 to 34,999 13.0% 12.6% 12.2%2007 Est. HH Income $15,000 to 24,999 12.9% 11.8% 11.4%2007 Est. HH Income $0 to 14,999 15.1% 13.5% 12.4%2007 Est. Average Household Income $46,799 $52,790 $58,368 2007 Est. Median Household Income $44,645 $48,579 $51,513 2007 Est. Per Capita Income $17,354 $20,974 $23,541
Number of Businesses 3,594 12,804 25,646Total Number of Employees 40,169 209,815 386,966
2007 Estimated Population 113,220 266,203 442,517 2007 Est. White Population 33.3% 45.3% 53.3%2007 Est. Black or African American 51.2% 39.9% 31.5%2007 Est. American Indian & Alaska Native 0.4% 0.4% 0.4%2007 Est. Asian & Pacific Islander 4.4% 4.5% 4.5%2007 Est. Two or more and Other Races 10.8% 10.0% 10.3%
