more than just dirt. - lsi companies | southwest florida’s full … · 2019. 2. 28. · naples,...

Homebuilder Offering Memorandum for Property Known As:

SR 846 Land TrustNaples, Florida

R E S I D E N T I A L L A N D O F F E R I N G 2 0 1 3

Southwest Florida’s Land and Commercial Real Estate Professionals

More than Just Dirt.www.landsolutions.net

Fort Myers Office10471 Six Mile Cypress Pkwy #402

Fort Myers, FL 33966(239) 489-4066

| 2 | L A N D S O L U T I O N S I N C

The content and condition of the property provided herein is to the best knowledge of the Seller. This disclosure is not a warranty of any kind; any information contained within this proposal is limited to information to which the Seller has knowledge.

Information in this presentation is gathered from reliable sources, and is deemed accurate, however any information, drawings, photos, site plans, maps or other exhibits where they are in conflict or confusion with the exhibits attached to an forthcoming purchase and sale agreement, that agreement shall prevail.

It is not intended to be a substitute for any inspections or professional advice the Buyer may wish to obtain. An independent, professional inspection is encouraged and may be helpful to verify the condition of the property.

The Seller and Land Solutions, Inc. disclaim any responsibility for any liability, loss or risk that may be claimed or incurred as a consequence of using this information. Buyer to hold any and all person’s involved in the proposal of the property to be held harmless and keep them exonerated from all loss, damage, liability or expense occasioned or claimed.

Potential Buyer acknowledges that all property information, terms and conditions of this proposal are to be kept confidential, and concur that either the Potential Buyers, nor their agents, affiliates or attorneys will reveal this information to, or discuss with, any third parties.

Limitations & Disclaimers


On behalf of the Sellers, we are pleased to provide you with this exclusive opportunity to consider SR 846 Land Trust as a new Naples location for your homebuilding organization. Land Solutions was selected as the exclusive broker to market this fine residential community, which features over 2,576 acres of residential development opportunity.

After reviewing this Offering Memorandum, please contact William “Billy” Rollins directly to schedule an appointment to discuss this asset.

William H. Rollins, Jr. CCIM, ALCSenior Broker

Land Solutions, Inc.10471 Six Mile Cypress Pkwy, # 402

Fort Myers, FL 33966Office 239.489.4066 ext 13

Fax 239.481.8477Cell: 239.633.1963

www.landsolutions.net

During this meeting, we will provide you with a detailed presentation on the property and provide additional information needed to finalize a purchasing decision and secure an offer including a detailed Market Analysis & all Land Development details available for the property.

We ask that all offers be submitted directly to Billy Rollins of Land Solutions, who will present them to the Seller for consideration. A followup meeting will be scheduled directly with the Seller before a final decision is made.

If you have any additional questions regarding this Proposal process, feel free to contact Land Solutions at (239) 489-4066.

Thanks in advance for your consideration,

Randy ThibautPresident & CEOLand Solutions Inc

Proposal Guidance


Table of ContentsAt-A-Glance .....................................................................5

Growing Naples Location .................................................7

Aerial of Neighboring Communities .................................8

Site Aerial .........................................................................9

Conceptual Site Plan .....................................................10

About the Property .........................................................11

Deal Terms .....................................................................14

Demographics ...............................................................16


SR 846 Land TrustAt-A-Glance

862±Number of density units currently entitled

2,576±Number of Total Acres

578±Acres of designated “Sending Lands” on site

1,998±Acres of designated “Receiving Lands” on site

1,998±Unit potential with property rezoning

4,500±Unit potential with entitled property under Rural Village guidelines

45,000,000±Potential Cubic Yards of Mining Material On Site


SR 846 Land TrustAt-A-Glance

Investment Opportunity This is a unique opportunity to acquire a significant property in the Naples market, with flexibility to develop the site based on the needed density & be ready to strike when market conditions are optimal.

Naples Location The community provides convenient access to I-75 and is centrally located between Collier and Lee Counties. The community is located in North Naples with quick easy access to southwest Florida shopping & beaches.

Strong Growth in Area Strong local sales history in the neighboring communities of Orange Blossom, Valencia Golf & Country Club, Village Walk, Ave Maria & Riverstone.

Timing This is an opportunity for a builder to bring new product to market at competitive sales prices in a growing area of Naples, when existing vacant developed lot inventories are absorbed and new growth is expected.

Homebuyer Profile The target market in the immediate area consists primarily of first home buyers looking for affordable housing in a growing area of the Naples market.

Absorption The absorption in the immediate area is proven with the success of the area’s surrounding communities that experienced top sales in the region during a challenging economic market.


Growing Naples LocationSR 846 Land Trust is a unique opportunity to own a multifaceted parcel of 2,576.5± acres with significant future residential opportunity. The property provides buyers with flexibility in development and density.

As market conditions and absorption continues to improve in Naples, residential builders will be looking in northeast Naples to stake claim in the Immokalee corridor. This growing area in Collier County has opportunity for new development and is seeing recent residential success in the neighboring communities of Valencia Lakes and Orange Blossom.

The area serves as a gateway to the up-and-coming community of Ave Maria, which is located to the east of the site. Future residential and commercial growth is expected for this major northeast Naples community. As illustrated below, the property is convenient to the area’s finest shopping & entertainment destinations, beaches and airports.

1) Vanderbilt Beach 2) Clam Pass Park3) N. Gulfshore Blvd Beach4) Naples Pier5) Wiggins Pass State Park6) Vineyards Park7) Mercato8) Corkscrew Swamp Sanctuary9) Lowdermilk Park

10) Coconut Pointe Mall11) Miromar Outlets12) Naples Trade Center13) Tin City Waterfront14) Waterside Shops15) Coastland Center Mall16) Gulf Coast Town Center 17) Downtown Naples18) Target

19) Publix20) Corkscrew Elem& Middle School21) Palmetto Ridge High22) North Collier Hospital23) Naples Hospital24) Ave Maria University25) Arthrex Commerce Park

Aerial of Neighboring Communities

1 - Village Walk2 - Acacia Property3 - Heritage Springs4 - Regent Properties5 - Parklands6 - Riverstone7 - Mirasol8 - VitaToscana9 - The Quarry10 - Heritage Bay11 - Bent Creek Preserve12 - Standing Oaks 13 - Raffia Preserve14 - Warm Springs15 - Buttonwood Preserve16 - Calusa Reserve

17 - Pristine Lakes18 - Black Bear Ridge19 - Bucks Run20 - Twin Eagles South21 - Twin Eagles22 - Quail West23 - Orange Blossom Ranch24 - Orange Blossom Groves25 - Bonita Lakes26 - Palmra Village27 - Palazzo Village28 - Indian Hill Estates29 - Valencia Lakes30 - Summit Place31 - Bristol Pines32 - Falls of Portofino

33 - Boxwood34 - Amberton35 - Sonoma Oaks36 - Valencia Golf & CC37 - Gargulio Property

Site Aerial

Conceptual Site Plan - Option One

Conceptual Site Plan - Option Two

Conceptual Site Plan - Option Three

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LOCATION

The subject property known as The S.R. 846 Land Trust is 4 sections of land comprised of 2,576 acres located in Collier County on Immokalee Road (CR 846). I-75 is 15 minutes west of the property via Immokalee Road. Naples is 20 minutes to the west and Southwest Florida International Airport is 30 minutes to the north on I-75.

AREA FACTS

The area is primarily agriculture and rural estates with the land to the north, south, and east being zoned rural estates, or one home per acre or higher. Most of the land to the north and east consist of subdivisions with single family detached homes. The Southwest Florida International Airport is approximately 25.8 miles away from the subject. The nearest grocery (Publix) is approximately 6.9 miles to the west at the southwest corner of Immokalee Road and Collier Boulevard. A new Publix grocery is being planned to be built within one mile of the subject property. Immokalee Road is the main thoroughfare to and from the subject property.

PROPERTY FACTS

Mining and Agricultural LeasesSR 846 has an active agricultural farming lease as well as a mining lease. Under the terms of the farming lease, the owner receives a rental payment in return for the use of areas within the property. The property has been issued a Conditional Use permit for fill and rock excavation to be used in the construction industry of SW Florida. A lease of the mining rights is in effect and operations are ongoing with the potential to mine over 45,000,000 cubic yards of construction materials. The SR 846 Land Trust receives a royalty for the materials produced from the property. The rental and royalty payments can be used to off-set the carry costs for the property.

Zoning In addition, due to the current growth patterns of Southwest Florida, in general, and the South Lee County/North Collier County area, in particular, the SR 846 Land Trust property has the opportunity for significant residential and commercial uses under a variety of development scenarios. These options would necessitate the scaling back of the mining operation.

About the Property


About the Property

Sending and Receiving LandsThe SR 846 Land Trust property lies within the Rural Fringe Mixed Use District (RFMUD), designated by Collier County. Although not within the urban core, Collier County development rules allow for opportunities for the property based on incentives contained within their regulations. Recently, the property was designated by the county to contain 1,998 acres of “Receiving” lands and 578 acres of “Sending” lands. These categories are designed to encourage preservation of significant parcels of environmentally beneficial lands with the incentive to shift the residential density from the Sending lands to the Receiving lands. Normal density in the RFMUD is one dwelling unit for each 5 acres of property. For Sending lands, the density that can be transferred to Receiving lands is increased to one dwelling unit per acre through the use of Collier County incentives. The property currently has either 862 or 978 dwelling units of base density, depending on which development option under current rules is selected. Increases above this density require Transfer of Development Rights (TDR) from elsewhere in the county through acquisition of those TDR rights or outright purchase of the property and severing the density for transfer to the SR 846 site.

Option 1 – Straight ZoningIf re-zoning were not desired, then a development plan can proceed without the re-zoning process and through normal development permitting. Under current rules, a development plan of up to 1,998 residential units (1 dwelling unit per acre) can be achieved through the approval of a clustered plan consistent with all LDC provisions and acquisition of TDRs above the current 862 units of residential density on site. This plan would provide for significant open space and park area and a rural styled development plan that has become very much demanded in the SW Florida area.

Option 2 – Rural VillageCollier County rules provide for a Rural Village development plan that can be approved for up to 4,500 dwelling units, with significant commercial/retail and civic space. This plan would require a Development of Regional Impact regional review, plus re-zoning by Collier County. For Rural Village development, the property produces 978 residential dwelling units. Acquisition of TDRs above that amount will be required. Development of a Rural Village can be a minimum of 2 dwelling units per acre, up to 3 units per acre on parcels of no more than 1,500 acres. The balance of the property would remain as Sending lands or be placed in a preservation category which may produce Panther mitigation units.


About the Property

Option 3 – Comprehensive Plan Amendment and RezoneAn aggressive development plan of up to 5,994 dwelling units, with significantly more commercial, civic, school and neighborhood and recreational centers, can be achieved with application to Collier County to modify its Rural Village and TDR regulations. The success of this process cannot be assured; however, preliminary discussions with County personnel have been encouraging and are looked on favorably due to the development potential in this area of the county and increase in needed commercial opportunities and expansion of the Collier County tax base.

Environmental

The SR 846 property also lies within the Florida Panther Zones 1 and 2 protection areas under the rules of the US Army Corps of Engineers and US Fish and Wildlife Service. Development in these areas requires mitigation of impacts to the Florida Panther foraging areas through obtaining credits for onsite preservation and purchase of offsite mitigation credits. Preliminary reviews indicate that the Sending areas of the property could produce 4,000+/- Panther credits, which significantly reduces the Panther credits necessary to develop the property. Final determination of the needed credits depends on the footprint of the final plan for development.


Property Description

Four sections of land in north central Collier County, Naples Florida totaling 2,576 acres; containing the following Parcel ID Numbers:

00209200009; 00209240001; 00113480009; 00113520008

Bulk Purchase Price

• $52,500,000.00-Aphasedpurchaseofthepropertywillbeconsidered.

Deposit

• $250,000.00tobeheldinaninterestbearingaccountbyCheffyPassidomo(Escrow Agent).

• Buyer will post an Additional Deposit with the Escrow Agent one hundred twenty (120) days after the Effective Date-in the amount of five percent (5%) of the balance of the Purchase Price. Deposit becomes non-refundable at the end of the feasibility period.

Due Diligence (Feasibility)• Onehundredtwenty(120)daysfromtheEffectiveDateofContract.

Closing Costs

• Seller’s costs: Title Insurance Premium, and Documentary Stamps on the Deed(s).

• Buyer costs: Recording of the Deed(s).

Deal Terms


Brokerage Commissions

• LandSolutionsservesastheexclusiveseller’sbrokerandwillbecompensatedon behalf of the Seller under separate agreement. All inquiries related to this offering shall be made to Land Solutions directly.

Buyer Obligations

• Buyer will be a qualified Buyer with significant experience in entitlement and development process in Collier County with finesse and the wherewithal willing to be interviewed by the Land Solutions team and Consultant team.

Seller Obligations

• Within ten (10) days of Effective Date, Seller shall deliver all documents within Seller’s possession relating to the property.

• Work hand in hand with the potential Buyer in obtaining governmental approvals including rural fringe designation.

Deal Terms


Demographic and Income ProfileTMA - SR 846 Prepared by William Rollins

Summary Census 2010 2012 2017Population 41,576 42,894 46,523Households 16,744 17,264 18,767Families 12,502 12,810 13,917Average Household Size 2.48 2.48 2.48Owner Occupied Housing Units 13,175 13,324 14,630Renter Occupied Housing Units 3,569 3,940 4,137Median Age 45.5 46.5 49.0

Trends: 2012 - 2017 Annual Rate Area State NationalPopulation 1.64% 0.68% 0.68%Households 1.68% 0.65% 0.74%Families 1.67% 0.67% 0.72%Owner HHs 1.89% 0.87% 0.91%Median Household Income 1.94% 3.42% 2.55%

2012 2017 Households by Income Number Percent Number Percent

<$15,000 1,026 5.9% 932 5.0%$15,000 - $24,999 1,342 7.8% 975 5.2%$25,000 - $34,999 1,199 6.9% 860 4.6%$35,000 - $49,999 2,823 16.4% 2,696 14.4%$50,000 - $74,999 3,797 22.0% 4,826 25.7%$75,000 - $99,999 2,205 12.8% 2,860 15.2%$100,000 - $149,999 2,577 14.9% 3,031 16.2%$150,000 - $199,999 1,234 7.1% 1,399 7.5%$200,000+ 1,061 6.1% 1,187 6.3%

Median Household Income $62,177 $68,451Average Household Income $85,859 $95,477Per Capita Income $34,517 $38,463

Census 2010 2012 2017 Population by Age Number Percent Number Percent Number Percent

0 - 4 2,033 4.9% 2,050 4.8% 2,127 4.6%5 - 9 2,560 6.2% 2,582 6.0% 2,677 5.8%10 - 14 2,688 6.5% 2,700 6.3% 2,827 6.1%15 - 19 2,473 5.9% 2,405 5.6% 2,391 5.1%20 - 24 1,578 3.8% 1,637 3.8% 1,570 3.4%25 - 34 3,830 9.2% 3,970 9.3% 4,150 8.9%35 - 44 5,312 12.8% 5,281 12.3% 5,381 11.6%45 - 54 5,516 13.3% 5,481 12.8% 5,356 11.5%55 - 64 6,051 14.6% 6,492 15.1% 7,268 15.6%

65 - 74 6,126 14.7% 6,744 15.7% 8,717 18.7%75 - 84 2,843 6.8% 2,930 6.8% 3,348 7.2%

85+ 564 1.4% 622 1.5% 714 1.5%Census 2010 2012 2017

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 37,624 90.5% 38,511 89.8% 40,918 88.0%Black Alone 1,458 3.5% 1,585 3.7% 2,015 4.3%American Indian Alone 75 0.2% 79 0.2% 95 0.2%Asian Alone 686 1.6% 805 1.9% 1,134 2.4%Pacific Islander Alone 21 0.1% 26 0.1% 37 0.1%Some Other Race Alone 1,092 2.6% 1,192 2.8% 1,456 3.1%Two or More Races 620 1.5% 696 1.6% 868 1.9%

Hispanic Origin (Any Race) 7,986 19.2% 8,633 20.1% 10,621 22.8%Data Note: Income is expressed in current dollars.

April 23, 2013

©2013 Esri Page 1 of 2

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017.

DemographicsA polygon study has been conducted on this asset to provide detailed demographics for the immediate area. A detailed Target Market Analysis is also available upon request for your consideration.


DemographicsA polygon study has been conducted on this asset to provide detailed demographics for the immediate area. A detailed Target Market Analysis is also available upon request for your consideration.

Demographic and Income ProfileTMA - SR 846 Prepared by William Rollins

AreaStateUSA

Trends 2012-2017

Population Households Families Owner HHs Median HH Income

Annual

Rat

e (i

n p

erce

nt)

3

2.5

2

1.5

1

0.5

0

20122017

Population by Age

0-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

Perc

ent

18

16

14

12

10

8

6

4

2

0

2012 Household Income

<$15K5.9%

$15K - $24K7.8%

$25K - $34K6.9%

$35K - $49K16.4%

$50K - $74K22.0%

$75K - $99K12.8%

$100K - $149K14.9%

$150K - $199K7.1%

$200K+6.1%

2012 Population by Race

White Black Am. Ind. Asian Pacific Other Two+

Perc

ent

80

70

60

50

40

30

20

10

0

2012 Percent Hispanic Origin: 20.1%

April 23, 2013

©2013 Esri Page 2 of 2

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017.

more than just dirt. - lsi companies | southwest florida’s full … · 2019. 2. 28. · naples,...

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