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ZEB [email protected] | (415) 274-2702CA DRE#: 01242540
ChRIs kostanECkI [email protected] | (415) 274-2701 CA DRE#: 01002010
200 GuLf stREam way, danIa BEaCh, fL
Trophy Absolute NNN single tenant investment
BASS PRO
ChRIs [email protected] | (415) 274-2703 CA DRE# 01339983
In Association with: Rick Steinberger, FL Licensed Broker(407) 999.7772 | [email protected]
dania beach, fl
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PuRChasE PRICE . . . . . $29,330,000
CaP RatE . . . . . . . . . . . . 6.00%
REntaBLE sf . . . . . . . . . 165,000 SF
Land aREa . . . . . . . . . . 15.73 Acres
yEaR BuILt . . . . . . . . . . 1998
Investment Highlights
tHE stORY
hIGh PRofILE fREEway LoCatIon LEss than onE mILE fRom ft. LaudERdaLE-hoLLywood IntERnatIonaL aIRPoRt
Bass Pro Shops (Johnny Morris Outdoor World) is located in Dania Beach, FL, on Florida’s vibrant east coast, between Miami and Ft. Lauderdale (the largest MSA in the Southeast). Bass Pro is highly visible from US I-95, where daily traffic counts are in excess of 270,000 vehicles per day. tRoPhy, dEstInatIon REtaIL
The subject property is a high performing, well-seasoned, destination retail location. Bass Pro Shops has operated this flagship Outdoor World since 1998. In 2012, Bass Pro Shops and ownership negotiated a primary term lease extension through 2022.
IRREPLaCEaBLE LoCatIon: nExt to IntERnatIonaL GamE fIsh assoCIatIon hEadQuaRtERs (IGfa)
The cornerstone feature of Dania Beach’s Sportsman Park, Bass Pro Shops enjoys tremendous synergy with the neighboring International Game Fish Association (IGFA) headquarters and the IGFA Hall of Fame, a 5-story Courtyard by Marriot, Diver’s Direct, and Broward College’s Tigertail Lake Recreation and Sailing Center, all less than a ten minute drive from the Ft. Lauderdale Hollywood International Airport and easily accessed by vehicle, or by foot from the adjacent Tri-Rail train station.
Bass Pro Shop’s close proximity and shared pond with IGFA makes this an exceptionally attractive destination for any fish & game enthusiast and a popular year-round South Florida tourist destination.
BASS PRO | 2
Core Characteristics
Store features an outdoor pond,
restaurant, aquarium and more
ulTimATe ReTAil exPeRieNce
LEasE hIGhLIGhts Tenant recently signed a 10 year extension (~8.5 years remaining)
Absolute NNN Lease guaranteed by numerous Bass Pro Shops entities, including Bass Pro, Inc.
7.5% rent escalations every five years, including each of the tenant’s seven 5-year options
Next rent escalation: 01/01/2018
uLtImatE REtaIL ExPERIEnCE
Special features at this location include an outdoor pond, Islamorada Restaurant, massive 30,000 gallon indoor aquarium, a 3D arcade shooting gallery, an in-store archery & shooting range, on premises fishing demonstrations, and numerous interior and exterior boat and ORV displays.
natIonaL tEnant
Bass Pro Shops operates more than 83 stores in the U.S. and Canada
Fiscal 2012 sales were estimated at $2.6 Billion by Bloomberg
High performing, proven location
BASS PRO | 3
Core Characteristics
Excellent visibility from Interstate 95
iN The heART Of miAmi-fORT
lAudeRdAle mSA
LoCatIon hIGhLIGhts
Prime freeway location in the heart of the Miami-Fort Lauderdale MSA
Destination location with all of the attributes of an in-fill site
Excellent visibility from Interstate 95, the primary north-south corridor of the eastern US stretching
from Florida to Maine
Across the street (I-95) from the 775,000 SF Design Center of the Americas (DCOTA)
Tenants in the surrounding area include Tesla Motors, Marriot, Hilton, Sheraton, Hyatt and several other
national hotels
Surrounded by dense residential, synergistic retail, and immediately adjacent to IGFA Headquarters
Minutes from Fort Lauderdale-Hollywood International Airport and easily accessible by public
transportation
BASS PRO | 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.
Income & Expense
priCe $29,330,000
Price Per Square Foot: $177.76
Capitalization Rate: 6.00%
Total Rentable Area (SF): 165,000
Lot Size (AC): 15.73
stAbiLiZeD iNCoMe per square Foot
Scheduled Rent $10.67 $1,760,000
Effective Gross Income $10.67 $1,760,000
Less per square Foot
Taxes NNN $0.00
Insurance NNN $0.00
Total Operating Expenses NNN $0.00
eQUALs Net operAtiNG iNCoMe $1,760,000
BASS PRO | 5
tEnant Info LEasE tERms REnt summaRy
tenant Name sq. Ft. term Current rent Monthly rent
yearly rent
Monthly rent/Ft
yearly rent/Ft
Bass Pro Shops Outdoor World 165,000 11/12/99 12/31/12 $133,333 $1,600,000 $0.81 $9.70
01/01/13 12/31/17 $1,760,000 $146,667 $1,760,000 $0.89 $10.67
01/01/18 12/31/22 $157,667 $1,892,000 $0.96 $11.47
Option 1 01/01/23 12/31/27 $169,492 $2,033,900 $1.03 $12.33
Option 2 01/01/28 12/31/32 $182,204 $2,186,443 $1.10 $13.25
Option 3 01/01/33 12/31/37 $195,869 $2,350,426 $1.19 $14.25
Option 4 01/01/38 12/31/42 $210,559 $2,526,708 $1.28 $15.31
Option 5 01/01/43 12/31/47 $226,351 $2,716,211 $1.37 $16.46
Option 6 01/01/48 12/31/52 $243,327 $2,919,927 $1.47 $17.70
Option 7 01/01/53 12/31/57 $261,577 $3,138,921 $1.59 $19.02
totals: 165,000 $1,760,000 $146,667 $1,760,000 $0.89 $10.67
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.
Rent Roll
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.
BASS PRO | 6
270,000 DA
ILY 22,850 DAILY
Gulf stream way
s fe
dera
l hig
hway
Rave
nsw
ood
Road
Griffin Road
stirling Road
state highway
sheridan street
florida turnpike
441
1
1
441
95
95
818
5
5
848
a1a
822
822822
848848
818
818
7
7
oakwood PLaZa noRth
hoLLywood hILLs PLaZa
hollywood hills Elementary school
dania Elementary school
stirling Elementary school
hollywood hills high school
south Broward high school
sheridan hills after school
shERIdan PLaZa
MIAMI
270,
000
DA
ILY
BASS PRO | 7
Griffi
n Ro
ad stirl
ing
Road
angler avenue
tige
rtail
Boul
evar
d
Gulf stream way
95
818
848
oakwood PLaZa noRth
attucks middle school
mary m. Bethune Elementary
TO FORT LAUDERDALE
TO MIAMI
270,000 DAILY
BASS PRO | 8
site Plan
Gulf stream way
NOT A PART
NOT A PART
95
Griffi
n Ro
ad81
8
270,000 DAILY
BASS PRO | 9
Photos
BASS PRO | 10
Photos
BASS PRO | 11
ABOUT BASS PRO SHOPS
Bass Pro Shops has become one of America’s premier outdoor retailers with destination outdoor retail stores across America and Canada, serving over 75 million sportsmen a year. It is a privately held outdoor retail leader in hunting, camping, nature gifts, outdoor cooking, and more. There are 80 locations in the United States and 5 locations in Canada.
The store sizes range from 20,000 square feet (1,900 m2) up to 300,000 square feet (28,000 m2). The largest flagship stores are known as Outdoor World stores. All stores have an indoor water feature that showcase fish species that are indigenous to the area. In some of these aquariums, professional anglers and store pro-staff hold demonstrations showing the use of an artificial bait. Bass Pro Shops is also known for its Outdoor Skills Workshops, teaching skills as varied as fly fishing, Dutch oven cooking, archery hunting with an archery range in the store, and GPS navigation.
Bass Pro shops
BASS PRO HAS OVER 70 ExISTING AND PROPOSED
STORES IN THE UNITED STATES AND CANADA
BASS PRO | 12
Regional Map
BAss PRO shOPs
AVERAGE DAILy TRAFFIC ON I-95 =
270,000
270,000 DA
ILY
ExCELLEnt LoCatIon: Bass Pro is highly visible from US I-95, where daily traffic counts are in excess of 270,000 vehicles per day.
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BASS PRO | 13
dania beach
14 Minutes7 Miles
Regional MapSouth Flor
ida
MSA Location
AVERAGE DAILy TRAFFIC ON I-95 =
270,000
miami
fort lauderdale
27 Minutes22 Miles
BASS PRO | 14
danIa BEaCh, fLNestled conveniently between Ft. Lauderdale and Miami, Dania Beach brings you small-town charm with beautiful beaches and antique districts. With a population of over 29,000 (as of 2010), Dania Beach is a city located in the South Florida MSA, in Broward County. The South Florida metropolitan area, which was home to 5,564,635 people at the 2010 census.
As of 2010, the population in Broward County was 1,748,066, making it the second most populated county in the state of Florida. The county seat of Broward county is Fort Lauderdale, a mere 15 minute drive from Dania Beach, FL.
Greater Fort Lauderdale is home to two Fortune 1000 companies including AutoNation, the largest automotive retailer in the U.S., employing an estimated 25,000; and Spherion, the sixth largest North American staffing firm, employing more than 300,000 nationwide. It is also home to eight additional corporate headquarters with annual revenues exceeding $1 billion.
Location & Demos
1-Mile 3-Mile 5-MileMedian $64,131 $64,659 $62,245Average $45,450 $44,732 $41,387
2013 hOUsEhOLD INcOMEs
population 1 Mile 3 Miles 5 Miles
2010 Population 8,599 87,714 286,2122013 Population 8,594 88,041 287,8842018 Population (Projection) 8,959 92,541 303,705
POPULATION
Employer # of Employees*Spherion Corporation 258,000AutoNation 25,000Republic Services 13,000Kaplan Higher Education 12,000*Approximate
TOP EMPLOYERs IN BROWARD cOUNTY
Located in the
Largest MSA in the
Southeast
BASS PRO | 15
Copyright © 2014 [Capital Pacific Real Estate Brokerage Company]In Association with: Rick Steinberger, FL Licensed Broker(407) 999.7772 | [email protected]
c l ick to viewproperty
website >>ChRIs kostanECkI [email protected] | (415) 274-2701 CA DRE#: 01002010
ChRIs PEtERs [email protected] | (415) 274-2703 CA DRE#: 01339983
ZEB RIPPLE [email protected] | (415) 274-2702CA DRE#: 01242540
thE CaPItaL PaCIfIC ExPERIEnCE - ouR daILy CommItmEnt to ouR CLIEnts
A unique HUMANRESULTS-DRIVEN client experience [ www.CapitalPacific.com ]