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OFFERING MEMORANDUM

CITY PLAZA SHOPPING CENTER BOCA RATON, FLORIDA

PREPARED: SEPTEMBER 2014

City Plaza Shopping Center - Boca Raton, Florida

TABLE OF CONTENTS Sale Prospectus

David Remland – Remland Commercial, Inc. (561) 809-8610

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I. EXECUTIVE SUMMARY

Project Description …………………………………………………………………………………............. 3

Property Overview …………………………………………………………………………………............. 4

Tenant Overview…………………………………………………………………………………................. 4

Investment Contact .…………………………………………………………………………………............4

Property Description …..………………………………………………….…………………………............5

II. VISUAL OVERVIEW

Site Plan / Tenant Suite Layout .…………………………………………………………………….............8

Aerial Views ………..……………………………………………………………………………….............9

Building Photos.………….…………………..……………………….……...…………………..................12

III. DEMOGRAPHICS

Market Profile (1,3,& 5 mile) ……..……………………………………..………………………................14

Traffic Counts ….…………………..…………………………………..………...………………................15

IV. FINANCIAL ANALYSIS

2014/15 Projected Rent Roll .……………..……………………………………………………..................17

Operating Expenses ………………..…………………………………….………………………................18


EXECUTIVE SUMMARY Sale Prospectus


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PROJECT DESCRIPTION City Plaza is an upscale shopping plaza anchored located in one of the highest income demographic areas of Palm Beach County. The plaza has been has been completely redeveloped in 2014 including a brand new façade, new roof, all new air conditioning units, new upgraded electric panels, completely repaved and restriped parking lot and all new landscaping. City Plaza also has an above average parking ratio of 5.6 spaces per 1,000 SF (57 total spaces for 10,289 SF). All retail spaces have direct street frontage directly onto either W. Palmetto Park Rd. or N.W. Boca Raton Blvd. GEOGRAPHIC LOCATION City Plaza is located on W. Palmetto Park Rd. just east of Federal Hwy. in Downtown Boca Raton, Palm Beach County. The location of this commercial site is on one of Palm Beach County’s major East-West thoroughfares between I-95 and Federal Hwy. offering excellent visibility, good access to the targeted trade area, and excellent placement with respect to competing commercial locations.




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PROPERTY OVERVIEW: City Plaza Property Address: 199 W. Palmetto Park Rd., Boca Raton, Florida 33432

Subdivision: Boca Raton Hills Sec 1

Total Site Area: 1.0103 acres (44,009 sf)

Total Parking Spaces: 57

Parking Ratio: 5.6 spaces per 1,000 SF

Total Rentable SF: 10,289

Zoning: DDRI (Downtown Development of Regional Impact)/A

TENANT OVERVIEW: Suite# Tenant Comments Square Feet A Little Caeser’s Franchisee w/multiple locations 1,432

B Available 627

C Gianna’s Edge Salon 20 years in Boca salon business 1,450

D Tendler Orthodontics Been in downtown Boca since 2004 2,718

E The Seed Cafe Coffee & Juice Cafe 1,300

F Gravity & Oxygen Fitness Established 10 year business 2,762 Total Space 10,289

Asking Price: 6.25% Cap Rate on $289,432.00 NOI ($4,630,912.00) David Remland Broker/Principal Remland Commercial

Phone: (561) 809-8610 Email: [email protected] Website: www.remlandcommercial.com




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Parcel: 1.0103 acres (44,009 SF) Retail Space (10,289 SF) Zoning: The Property DDRI/A (Downtown Development of Regional Impact) in

the jurisdiction of the City Of Boca Raton, Florida.

Real Estate Taxes: Florida statutes provide for assessment and collection of yearly ad

valorem taxes on real and personal property. However, taxes are assessed and collected on the local and county level. The assessment of the Property is established each year as of January 1 by the Palm Beach County Property Appraiser’s Office at 100% of “Just Value,” defined as market value less normal closing costs and sales commissions, taking into account fairness and uniformity standards. The tax due is computed according to annual millage rates established by the city, county, and state.

2013 Taxes: $39,999.41




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Parcel Control #: Parcel Control No: 06-43-47-19-31-001-0080

Landscaping: All New Landscaping includes grass, shrubs, and trees along the

perimeters of the Property, within islands in the asphalt-paved areas, and along a small portion of the building perimeters.

Signage: There is one (1) monument sign located on the corner of W. Palmetto

Park Rd & N.W. Boca Raton Blvd.

Parking Lot: Accesses to the newly asphalt-surfaced Property parking lots throughout

the Property are provided from W. Palmetto Park Rd. on the north side of the site and from N.W. Boca Raton Blvd. on the west side of the site. The surface lot accommodates newly striped 57 parking spaces.

Tenant Fronts: The typical door features anodized aluminum framework with tinted glass.

Electrical: Each suite is separately metered.




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Utilities: Water / Sewer: City Of Boca Raton

Electricity: Florida Power & Light Natural Gas: Florida Public Utilities. Roof: The brand new roof includes open web steel joist supported metal decks,

with rolled mineral roofing materials.


VISUAL OVERVIEW Sale Prospectus


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DEMOGRAPHICS Sale Prospectus


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DEMOGRAPHICS Sale Prospectus


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Street From To Date Traffic Count W. PALMETTO PARK RD.

12th St. N.W. Boca Raton Blvd 2013

36,851

W. PALMETTO PARK RD.

N.W. Boca Raton Blvd Federal Hwy. 2013 21,663

N.W. BOCA RATON BLVD.

W. Palmetto Park Rd. Glades Rd. 2013 9,007


FINANCIAL ANALYSIS Sale Prospectus


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FINANCIAL INFORMATION

- 2014/15 Rent Roll -

- 2014/15 Projected Expenses -




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City Plaza

PROJECTED CAM CHARGES

$ PER SQ FT EXPENSE

Electric $0.88 $9,000.00

Water $0.24 $2,500.00

Maintenance & Repairs $0.20 $2,000.00

Janitorial $0.00 $0.00

Security $0.00 $0.00

Legal & Accounting $0.49 $5,000.00

Landscaping $0.29 $3,000.00

Management $1.55 $16,000.00

Insurance $1.46 $15,000.00

Trash $0.48 $4,916.00

Real Estate Taxes $3.91 $40,000.00 PROJECTED TOTAL $9.50 $97,299.00

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