net lease investment: summit regional headquarters …€¦ · summit broadband is a leading...

NET LEASE INVESTMENT: SUMMIT REGIONAL HEADQUARTERS

FREE STANDING SUMMIT BROADBAND – NAPLES, FL6204 JANES LANE • NAPLES, FL 34109

trinitycre.com9250 Corkscrew Rd • Suite 13 • Estero, FL 33928

© 2019 Trinity Commercial GroupThis information is considered accurate, but not guaranteed.

CONTACT INFORMATION

MATT [email protected]

KIM DAUGHERTYSenior [email protected]

EXECUTIVE SUMMARYFREE STANDING SUMMIT BROADBAND – NAPLES, FL

THE OFFERINGTrinity Commercial Group, Inc. (TCG) is pleased to present for sale, the exclusive listing for an extremely rare free standing net lease opportunity located in the heart of Naples, FL.

This property offers investors the opportunity to purchase one of the highest quality, free standing buildings (built as a former regional operations center) in Naples, FL secured by a very strong corporate tenant in Summit Broadband; a wholly owned subsidiary of Cable Bahamas. This location is a rare opportunity to invest in a hands free net leased investment in Naples, FL at a price point that is extremely affordable.

Summit Broadband is a leading fiber-optics telecommunications provider in Central and Southwest Florida. They provide voice, video, data, and high-speed internet services to commercial and residential customers, as well as ethernet and dark fiber transport to enterprise and carrier customers throughout communities in Central and Southwest Florida. Summit Broadband was acquired by Cable Bahamas in 2013 whose annual revenue topped $281 Million for fiscal year 2017. This was a 70% increase in overall revenue from 2015. Summit Broadband continued to see impressive growth over the last 12 months with revenue increasing by 12% year over year. Total revenue for the twelve month periods ending June 2014 to June 2018 increased more than 430% to $64 million with a compound annual growth rate of 40%.

In addition to the high quality tenant, the property itself is in phenomenal shape and offers some unique attributes that further drive value back to the owner. The property includes a brand new 50kW generator and a 1,000 gallon propane tank. Even with a direct category 4 hurricane hit from Irma in September of 2017, service was not interrupted and the building never lost power as their

PROPERTY OVERVIEW

E X E C U T I V E S U M M A R Y 3

HIGHLIGHTS

PROPERTY LOCATION: 6204 Janes Lane, Naples, FL 34109

BUILDING SIZE: 6,000± SF

LAND SIZE: 0.5± AC

TENANT: Summit Broadband (wholly owned subsidiary of Cable Bahamas)

BASE TERM: 5 years

OPTIONS: One 5 year option

INCREASES: 3% annually (5% at the initial option extension)

LEASE TYPE: Modified Gross – LL responsible for roof/structure and property taxes

GUARANTEE: Summit Broadband

ADDITIONAL PROPERTY CHARACTERISTICS:

• Brand new Generac 50kW generator• 1000 gallon secured propane tank• Four Trane air handlers

PRICE: $925,000

CAP RATE: 8.0%

NOI: $74,000 (after modified gross adjustment)

HIGH QUALITY TENANT IN SUMMIT BROADBAND:$64 MILLION IN ANNUAL REVENUE

Over 430% growth in revenue over the past 5 years

Located in the heart of Naples, FL

Rare, affordable Naples asset at $925,000

Brand new 50kW generator and 1,000 gallon propane tank servicing the property

Annual increases in the base rent

PROPERTY LOCATIONFREE STANDING SUMMIT BROADBAND – NAPLES, FL

P R O P E R T Y L O C A T I O N M A P 5

SOUTHWEST, FLORIDA

NAPLES,FLORIDA

P R O P E R T Y L O C A T I O N M A P 6

R E T A I L A E R I A L M A P 7

44,5

00±

VPD

56,000± VPD

R E T A I L A E R I A L M A P 8

A E R I A L S 9

JAN

ES L

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JAN

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JANES LN

JANES LN

P H O T O S 10

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SUMMARY PROFILE2000-2010 Census, 2018 Estimates with 2023 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 26.2219/-81.7777RS1

6204 Janes Ln1 mi radius 3 mi radius 5 mi radius

Naples, FL 34109

POPU

LATI

ON

2018 Estimated Population 4,759 53,995 118,551

2023 Projected Population 5,176 59,119 130,499

2010 Census Population 4,671 49,235 108,397

2000 Census Population 3,560 41,570 90,283

Projected Annual Growth 2018 to 2023 1.8% 1.9% 2.0%

Historical Annual Growth 2000 to 2018 1.9% 1.7% 1.7%

2018 Median Age 47.4 56.4 52.2

HO

USE

HO

LDS

2018 Estimated Households 2,278 27,847 56,776

2023 Projected Households 2,406 29,699 60,857

2010 Census Households 2,142 24,357 49,562

2000 Census Households 1,521 19,628 39,774

Projected Annual Growth 2018 to 2023 1.1% 1.3% 1.4%

Historical Annual Growth 2000 to 2018 2.8% 2.3% 2.4%

RAC

E AN

DET

HN

ICIT

Y

2018 Estimated White 85.6% 91.0% 88.2%

2018 Estimated Black or African American 5.2% 3.0% 4.6%

2018 Estimated Asian or Pacific Islander 2.8% 2.2% 2.1%

2018 Estimated American Indian or Native Alaskan 0.1% 0.1% 0.2%

2018 Estimated Other Races 6.3% 3.6% 4.9%

2018 Estimated Hispanic 20.8% 14.2% 18.4%

INC

OM

E 2018 Estimated Average Household Income $102,833 $134,020 $123,442

2018 Estimated Median Household Income $66,491 $91,436 $85,338

2018 Estimated Per Capita Income $49,221 $69,125 $59,149

EDU

CAT

ION

(AG

E 25

+)

2018 Estimated Elementary (Grade Level 0 to 8) 1.6% 2.7% 3.4%

2018 Estimated Some High School (Grade Level 9 to 11) 5.6% 3.7% 4.5%

2018 Estimated High School Graduate 17.9% 19.2% 22.2%

2018 Estimated Some College 15.3% 17.4% 18.0%

2018 Estimated Associates Degree Only 8.7% 8.2% 8.0%

2018 Estimated Bachelors Degree Only 29.5% 28.2% 25.9%

2018 Estimated Graduate Degree 21.5% 20.7% 18.1%

BUSI

NES

S 2018 Estimated Total Businesses 1,414 4,586 9,024

2018 Estimated Total Employees 14,046 46,409 88,681

2018 Estimated Employee Population per Business 9.9 10.1 9.8

2018 Estimated Residential Population per Business 3.4 11.8 13.1

COMPANY OVERVIEWFREE STANDING SUMMIT BROADBAND – NAPLES, FL

C O M P A N Y O V E R V I E W 13

Summit Broadband is a leading fiber-optics telecommunications provider in Central and Southwest Florida. We provide voice, video, data, and high-speed internet services to commercial and residential customers, as well as ethernet and dark fiber transport to enterprise and carrier customers. Providing a superior customer service experience since 1994, we own and operate our own fiber-optic networks, with a reach of more than 1,000 fiber route miles, serving multiple industries and communities throughout our territory. Summit Broadband was acquired in 2013 by Cable Bahamas Ltd.

Summit Broadband services select communities in Central and Southwest Florida. Through the power of fiber optics, we can provide up to 1 Gbps internet (in and out of the home), crystal clear television and digital phone.

As a business owner or IT leader you know that you need a broadband company that can deliver internet, advanced phone options, and TV, all served on a redundant, 99.999% carrier-grade fiber optic infrastructure.

ABOUT THE COMPANYwww.summit-broadband.com/

M A N A G E M E N T ’ S D I S C U S S I O N A N D A N A LY S I S

Cable Bahamas Ltd. | 2018 Annual Report // 1716 // Cable Bahamas Ltd. | 2018 Annual Report


together — BICS to Summit’sFlorida Intercity Transport Network(FIN). This allows the networks tooperate as one and supportstransit services, giving Summit thecapability to provide domesticNorth American connectivity toREV customers through thisinterface.

Summit’s relationship with U.S.carriers has also been leveraged todrive significant pricing reductionson carrier services, such as internetpeering. Additional efforts areunderway to further reduceinternet peering costs, which willresult in further cost savings.

Moving forward, Summit continuesto focus on operational synergieswith a current emphasis onintegration of the two NetworkOperations Centers (NOCs). Thisprovides an opportunity tomaximise resourcing and providebusiness continuity via ageographically diverse center inthe event of a catastrophic issue.

Ideas to Action Summit continues to make themost of its network and accesstechnologies such as new buildopportunities where it willconstruct Fibre to the Home(FTTH) and will utilise the existingtechnology to maximise the returnon investment (ROI) from the assetfor acquisitions or already-builtopportunities. In financial year2018, 4,372 new units wereconstructed with the FTTHtechnology and an additional

1,334 units were upgraded to thisarchitecture.

Moving forward, the Company willfocus on a strategic drive toaggressively pursue commercialrevenue. It will actively buildcommercial FTTH GPoN inprospect areas. This is a focusedinitiative on the small, medium,and home office-sized businesssector. In financial year 2018, morethan 300 new commercial circuitswere added in addition to the Cityof Leesburg acquisition.

Leading with MarketingFor financial year 2018, the salesand marketing efforts remainedlaser-focused on the regions itserves and the industry verticalsthat have historically providedsignificant returns for theCompany. With two regions(Central and Southwest) and twoprimary lines of business(Residential and Commercial), theCompany secured more than $27 million in total contract value.This organic sales success will fuelthe growth of Summit in the shortand long term.

Moving forward, the sales plan willstay focused on the Company’sstrategic vision and five-year plan.Continued targeting of verticals,such as hospitality, healthcare,government, education, enterprise,and wholesale will remain toppriorities. The team will leveragenew products and serviceslaunched to increase sales. Theywill also take full advantage of the

existing fibre assets to securelong-term contracts, whiledelivering network solutionsunmatched by the competition.

The Future is on TrackSummit sees the Group’s newdirection as exciting and stridesconfidently into the future.Confidence built upon the solidfoundation and core values alreadyestablished, positioning theCompany to seize theopportunities presented.

Florida remains one of the U.S.’sfastest growing states, with thefourth highest rate in the nation.Nearly 1,000 people move toFlorida each day. Within Florida,many of the counties seeing thatexplosive growth are countiesserved by Summit. Those countiesare expecting double-digit growth,resulting in substantial residentialhousing builds and hundreds ofnew businesses relocating to thoseareas to serve the burgeoningpopulation growth.

On the residential side, Summitenjoys a very strong sales pipelineand a commitment to 10-year bulkdeals with a 5-year or less paybackand a high internal rate of return.On the commercial front, Summitremains a strong competitor in thehospitality market with more than50,000 hotel rooms served andcontinues to execute on thestrategy of increasing itspenetration in the small- tomedium-size business market. Theexpansion of its fibre network and

As we know, Summit is capitalintensive, and a large portion ofthe resources are spent on capitalactivities associated withextending, upgrading the cablenetwork, and the acquisition ofnew customers. Total capital spentin financial year 2018 was $26 million; 79% was spent onrevenue-generating success-based projects.

For financial year 2018, EBITDAwas 26% of revenue, resulting inan increase of 40% year-over-year.This was accomplished by acontinued focus on fiscalresponsibility, leveragingefficiencies, communication,empowering the front-lineleadership team to understand theimpact of operating expenses, andanalysis of each sales opportunityto increase the return oninvestment.

Company Culture Leads the WayThe transformation and growth ofSummit continues to be led by aculture that focuses on itsemployees and customers.Employees are Summit’s mostvaluable asset, and it lives out thatcommitment each day by ensuringit recognises, informs,communicates to, empowers,rewards and gives each employeean opportunity to make adifference in both the Companyand with the customer base. TheCompany has a myriad of ways tointeract with customers via itsemployees and each employee isdedicated to delighting that

customer and exceeding theirexpectations. That kind ofcustomer service experience iscritical to the Company being themarket leader and differentiatingitself from the competition. Thatcustomer experience fuels theCompany’s growth, whether viacustomer referral or word ofmouth in the communities itserves and is the foundation of itsbusiness principles.

Continued Network StrengthAnother strong differentiator forSummit is its network. The qualityof that network was challenged inSeptember 2017 as Hurricane Irmastruck the Company’s entire Floridafootprint; from Marco Island toFort Myers and then through thecenter of the state, including theOrlando area. Summit wasprepared and answered thatchallenge. During and after thatstorm, its network never lostconnectivity as compared to otherservice providers who took weeksor months to repair and rebuildtheir networks; if Summitcustomers had commercial powerthen they had Summit service. Thatis because Summit has focusedheavily on redundancy andresiliency of the network, buildingthe core to a High Availability99.999% reliable network.

Many customers took to socialmedia to talk about the amazingreliability of the Company and itsperformance during that storm.One major carrier even held alunch for Summit as the dark fibre

network we provide to their celltowers was the only one in Floridawhich experienced no serviceinterruptions during the hurricane.Summit’s commitment to thosecustomers speaks volumes aboutthe employees and the pride theyhave in building a very specialplace to work.

From a customer experiencestandpoint, the past year has beenfilled with Summit receivingcompliments and praise—from itstechnicians in the home to theemployees in the Contact Center.Each one of the departments thattouch the customer received highmarks and positive responses tothe Company’s property surveys.Whether it is being answeredeffectively and efficiently in theContact Center, getting atechnician to a home quicklywithin a two-hour appointmentwindow, or employees workingaround the clock to repair anoutage, Summit was committed tofixing it right the first time.Customers recognised and werehighly complementary of ourefforts, particularly the care andcompassion demonstrated by theemployees while in their homes oron the phone.

Operational SynergiesSeveral initiatives wereundertaken to drive efficienciesand operational savings across thegroup of companies. A Network toNetwork Interface (NNI) wasestablished in Miami, Florida tofunctionally tie the two networks


14 // Cable Bahamas Ltd. | 2018 Annual Report

M A N A G E M E N T ’ S D I S C U S S I O N A N D A N A LY S I S M A N A G E M E N T ’ S D I S C U S S I O N A N D A N A LY S I S

Cable Bahamas Ltd. | 2018 Annual Report // 15

T he past year has seenSummit continue its

growth while achievingfinancial stability. Turningplanning to execution, theCompany has grown inseveral ways: through theacquisition of the City ofLeesburg’s fibre assets,increasing residentialcustomer sales and, byadding a focus oncommercial customerprocurement.

The City of Leesburg acquisitionadded more than 200 route milesof fibre-optic network that iscontiguous to its Central Floridafibre network, including 25 newcommercial customers with 200circuits. This brought Summit’stotal fibre plant to more than1,800 miles between its Central

Florida and Southwest Floridaregions.

On the residential and commercialfront, the Company added 3,854new video customers, bringing thetotal video customer count to46,589. An additional 4,147broadband customers were added,bringing the total broadbandcustomer count to 41,990.Additionally, a total of 173 newcommercial data customers wereadded, bringing that totalcustomer count to 1,736.Significantly, the total RevenueGenerating Units (RGUs) climbedby 7,911 to a total of 112,879. The revenue mix, as the Companyended the year, was approximately63% residential and 37%commercial or other revenue.

Dependable Financial GrowthOverall performance in Summit

remained strong during the pasttwelve months. The Companycontinued to see growth asrevenue increased by 12% year-over-year. Total revenue for thetwelve-month periods ending June2014 to June 2018 increased morethan 430% to $64 million with acompound annual growth rate(CAGR) of 40%. The largestcontributing factors to this growthwere revenues from residentialsubscribers (an increase of 39,901subscribers in the five-year period).

Residential revenue contributedapproximately $40 million or 63%of total revenue and acquired6,245 net new subscribers in 2018,representing a 7% growth over thepast 12 months. We are expectedto significantly continue to growover the next five years inresidential and commercialrevenue.

A Story of Steady, Solid GrowthSummit Broadband

programming cost and non-cashrelated depreciation andamortization which increased over$3 million as a result of a spike inour capital expenditures relatingto the tower build-out in theprevious period.

As at June 30, 2018, the REVsegment total assets equated to$590 million compared to theprior year $572 million, whichrepresents an increase of 3%;primarily due to the investment inALIV and capital expendituresinclusive of the wireless towerbuild-out, incurred to provideservices to ALIV. Total liabilities asat June 30, 2018 was $397 millioncompared to prior year of $397million.




A LIV used the past yearto accelerate its growth

trajectory and drive towardsits promise to be the bestmobile telecommunicationscompany in The Bahamas.We have fulfilled our goals ofachieving substantial marketshare, rolling our networkout though the islands andbuilding encouragingrevenue streams. This has all been achieved whileconstantly building on ourengineering excellence andin the face of intensecompetitive pressures. ALIV is proud of its successstory thus far and looksforward to turning the cornerwith the Group as we movein our new direction.

ALIV’s Aim: To Be the Best Always...We have achieved much in ourshort history and look forward togreater success as our strategicplan rolls out. The main strategicpillars upon which ALIV is builtinclude network, innovation,customer service and communityoutreach. Highlights to dateinclude:

• Revenues of over $36.5 million;• Over 110,000 subscribers;• 33% Market Share;• 234 towers across the length

and breadth of The Bahamas;• 15 islands with complete

network coverage from ALIV;• 4.5G LTE service launched on

New Providence, Abaco, GrandBahama and Exuma.

The revenue growth demonstratedin financial year 2018 was a factor

of both the 34% growth insubscribers and the increaseaverage revenue per user (ARPU).This increased ARPU was largelydriven by the increase in dataconsumption by all subscribers.Profitability improved further asthe operational cost basestabilised as the network roll-outwas completed.

The growth of ALIV continues tobe led by a culture that focuses onits employees and customers.Employees are the lifeblood andcustomer service is ourdifferentiator. This focus paves theway for ALIV to be the choice fortelecommunication mobile servicein The Bahamas.

Believe in Best – The RightMessage for the Right People at the Right TimeALIV has now established the“Believe in Best” tagline all over

the thousands of commercial unitsthat pass our network is asignificant opportunity. To this end,we are launching new productsspecifically targeted to this market;fibre-based services, hosted voice,data security and commercial WiFi.All those services will be deliveredon our state-of-the-art networkand served by a next-generationheadend and data center that iscurrently being constructed inOrlando.

Anchoring our success for thefuture is a talented andexperienced leadership team thathas been in place for three years.The executive team alone hasmore than 200 years of combinedleadership experience in thisindustry.

More so than ever, Summit ispositioned to successfully executeon the strategy for the Floridamarket and seize opportunitiesthat will present themselves.Turning ideas to action, growing,transforming, and leading, whilecontinuing to differentiate itselffrom the competition, are thehallmarks of Summit.

Promises FulfilledALIV





together — BICS to Summit’sFlorida Intercity Transport Network(FIN). This allows the networks tooperate as one and supportstransit services, giving Summit thecapability to provide domesticNorth American connectivity toREV customers through thisinterface.

Summit’s relationship with U.S.carriers has also been leveraged todrive significant pricing reductionson carrier services, such as internetpeering. Additional efforts areunderway to further reduceinternet peering costs, which willresult in further cost savings.

Moving forward, Summit continuesto focus on operational synergieswith a current emphasis onintegration of the two NetworkOperations Centers (NOCs). Thisprovides an opportunity tomaximise resourcing and providebusiness continuity via ageographically diverse center inthe event of a catastrophic issue.

Ideas to Action Summit continues to make themost of its network and accesstechnologies such as new buildopportunities where it willconstruct Fibre to the Home(FTTH) and will utilise the existingtechnology to maximise the returnon investment (ROI) from the assetfor acquisitions or already-builtopportunities. In financial year2018, 4,372 new units wereconstructed with the FTTHtechnology and an additional

1,334 units were upgraded to thisarchitecture.

Moving forward, the Company willfocus on a strategic drive toaggressively pursue commercialrevenue. It will actively buildcommercial FTTH GPoN inprospect areas. This is a focusedinitiative on the small, medium,and home office-sized businesssector. In financial year 2018, morethan 300 new commercial circuitswere added in addition to the Cityof Leesburg acquisition.

Leading with MarketingFor financial year 2018, the salesand marketing efforts remainedlaser-focused on the regions itserves and the industry verticalsthat have historically providedsignificant returns for theCompany. With two regions(Central and Southwest) and twoprimary lines of business(Residential and Commercial), theCompany secured more than $27 million in total contract value.This organic sales success will fuelthe growth of Summit in the shortand long term.

Moving forward, the sales plan willstay focused on the Company’sstrategic vision and five-year plan.Continued targeting of verticals,such as hospitality, healthcare,government, education, enterprise,and wholesale will remain toppriorities. The team will leveragenew products and serviceslaunched to increase sales. Theywill also take full advantage of the

existing fibre assets to securelong-term contracts, whiledelivering network solutionsunmatched by the competition.

The Future is on TrackSummit sees the Group’s newdirection as exciting and stridesconfidently into the future.Confidence built upon the solidfoundation and core values alreadyestablished, positioning theCompany to seize theopportunities presented.

Florida remains one of the U.S.’sfastest growing states, with thefourth highest rate in the nation.Nearly 1,000 people move toFlorida each day. Within Florida,many of the counties seeing thatexplosive growth are countiesserved by Summit. Those countiesare expecting double-digit growth,resulting in substantial residentialhousing builds and hundreds ofnew businesses relocating to thoseareas to serve the burgeoningpopulation growth.

On the residential side, Summitenjoys a very strong sales pipelineand a commitment to 10-year bulkdeals with a 5-year or less paybackand a high internal rate of return.On the commercial front, Summitremains a strong competitor in thehospitality market with more than50,000 hotel rooms served andcontinues to execute on thestrategy of increasing itspenetration in the small- tomedium-size business market. Theexpansion of its fibre network and

As we know, Summit is capitalintensive, and a large portion ofthe resources are spent on capitalactivities associated withextending, upgrading the cablenetwork, and the acquisition ofnew customers. Total capital spentin financial year 2018 was $26 million; 79% was spent onrevenue-generating success-based projects.

For financial year 2018, EBITDAwas 26% of revenue, resulting inan increase of 40% year-over-year.This was accomplished by acontinued focus on fiscalresponsibility, leveragingefficiencies, communication,empowering the front-lineleadership team to understand theimpact of operating expenses, andanalysis of each sales opportunityto increase the return oninvestment.

Company Culture Leads the WayThe transformation and growth ofSummit continues to be led by aculture that focuses on itsemployees and customers.Employees are Summit’s mostvaluable asset, and it lives out thatcommitment each day by ensuringit recognises, informs,communicates to, empowers,rewards and gives each employeean opportunity to make adifference in both the Companyand with the customer base. TheCompany has a myriad of ways tointeract with customers via itsemployees and each employee isdedicated to delighting that

customer and exceeding theirexpectations. That kind ofcustomer service experience iscritical to the Company being themarket leader and differentiatingitself from the competition. Thatcustomer experience fuels theCompany’s growth, whether viacustomer referral or word ofmouth in the communities itserves and is the foundation of itsbusiness principles.

Continued Network StrengthAnother strong differentiator forSummit is its network. The qualityof that network was challenged inSeptember 2017 as Hurricane Irmastruck the Company’s entire Floridafootprint; from Marco Island toFort Myers and then through thecenter of the state, including theOrlando area. Summit wasprepared and answered thatchallenge. During and after thatstorm, its network never lostconnectivity as compared to otherservice providers who took weeksor months to repair and rebuildtheir networks; if Summitcustomers had commercial powerthen they had Summit service. Thatis because Summit has focusedheavily on redundancy andresiliency of the network, buildingthe core to a High Availability99.999% reliable network.

Many customers took to socialmedia to talk about the amazingreliability of the Company and itsperformance during that storm.One major carrier even held alunch for Summit as the dark fibre

network we provide to their celltowers was the only one in Floridawhich experienced no serviceinterruptions during the hurricane.Summit’s commitment to thosecustomers speaks volumes aboutthe employees and the pride theyhave in building a very specialplace to work.

From a customer experiencestandpoint, the past year has beenfilled with Summit receivingcompliments and praise—from itstechnicians in the home to theemployees in the Contact Center.Each one of the departments thattouch the customer received highmarks and positive responses tothe Company’s property surveys.Whether it is being answeredeffectively and efficiently in theContact Center, getting atechnician to a home quicklywithin a two-hour appointmentwindow, or employees workingaround the clock to repair anoutage, Summit was committed tofixing it right the first time.Customers recognised and werehighly complementary of ourefforts, particularly the care andcompassion demonstrated by theemployees while in their homes oron the phone.

Operational SynergiesSeveral initiatives wereundertaken to drive efficienciesand operational savings across thegroup of companies. A Network toNetwork Interface (NNI) wasestablished in Miami, Florida tofunctionally tie the two networks

MARKET OVERVIEWFREE STANDING SUMMIT BROADBAND – NAPLES, FL

M A R K E T O V E R V I E W 17

NAPLES, FL

Naples, FL is the county seat of Collier County located 40 miles south of Fort Myers in the Southwest are of the State of Florida. Known for its idyllic white sand beaches, high end shopping and entertainment, slower and relaxed pace of life, Naples is consistently recognized as one of the best places to live in the country. The quality of life, weather and opportunity for a healthy lifestyle, Naples has attracted some of the wealthiest residents in the world to call the City their home.

Naples continues to be nationally ranked in areas from wealth to lifestyle and happiness. Naples is one of the wealthiest cities in the United States, with the sixth-highest per capita income in the country, and the second-highest proportion of millionaires per capita in the US. Additionally, Naples was recently recognized as the happiest and healthiest place to live 2 years running by a national Gallup ranking. With the desirable weather and lifestyle, Naples also comes with some of the highest priced real estate in the country. Naples was recently ranked in the top ten most expensive places to buy a home in the country. It isn’t a surprise that Naples has outpaced growth trends around the country. As of 2017, Naples population growth came in 40% higher than the rest of the State of Florida with that number projected to increase to 100% for the next few years.

Naples also features a number of cultural centers and organizations including The Naples Players, the Opera Naples, the Philharmonic Center for the Arts, the Philharmonic Orchestra and the Naples Jazz Orchestra.

“Happiest and Healthiest City” – Gallup Rankings“2nd Highest Millionaires Per Capita”

CONTACT USMATT [email protected]

KIM DAUGHERTYSenior [email protected]

9250 Corkscrew Rd • Suite 13 • Estero, FL 33928 © 2019 Trinity Commercial Group

This information is considered accurate, but not guaranteed.

net lease investment: summit regional headquarters …€¦ · summit broadband is a leading...

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