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O F F E R I N G M E M O R A N D U M
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DISCLOSURE :
All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as “FNL”), its directors, officers, agents, advisors, af-
filiates and/or any third party sources are provided without representation or warranty by FNL its directors, officers, agents, advisors, or affiliates as to com-
pleteness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitability, finan-
cial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.
Neither FNL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the
any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for
review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. FNL will
not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
ALL PARTIES SHALL CONDUCT THEIR OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE:
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investiga-
tions including through appropriate third party independent professionals selected by such party.
All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate inde-
pendent professionals. FNL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assump-
tions. FNL does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance,
including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that
may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable con-
tractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the proper-
ty.
Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax
attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the
property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other
consultants and governmental agencies. All properties and services are marketed by FNL in compliance with all applicable fair housing and equal opportuni-
ty laws.
P R E S E N T E D BY: MARVIN DE LAURA
Senior Director 248.419.3811 [email protected]
Circle-K Gas & Convenience Store
Fortis Agents Cooperate Click Here To Meet
The Team
INVESTMENT HIGHLIGHTS
Busy 16 Pump Location Open 24 Hours 7 Days a Week
New Build to Suit in 2002
Standard & Poors Credit Rated Tenant (BBB)
Minimal Landlord Responsibility | Slab & Structure Only
Four, 5 year options after primary term
Florida is a No Income Tax State
LOCATION HIGHLIGHTS
Intersection of SW 34th St (12,140+ VPD) and SW 35th Pl
5 Mile Population Exceeds 148,080 Residents
Average Household Income Exceeds $64,444 Within 5 Miles
Median Home Value Within 5 Miles Exceeds $40,739
Five Minutes from University of Florida
Positioned Near National Retail Tenants Including: Walmart, Chick
-Fil-A, Chipotle, Tropical Smoothie Café, McDonalds, Publix,
Starbucks, TGI Fridays, Taco Bell, Panera, Subway, and many
more.
INVESTMENT SUMMARY
List Price: $3,743,200
NOI: $196,518
Initial Cap Rate: 5.25 %
Land Acreage: 1.78 Acres
Year Built: 2002
Building Size: 2,880 SF
Google Aerial Map: Click HERE
Google Street View: Click HERE
LEASE SUMMARY
Lease Type: Modified NNN
Taxes/Insurance/CAM: Tenant Responsibility
Structure/Roof/Parking/HVAC: Tenant Responsible
Slab & Structure: Landlord Responsibility
Original Lease Term: 20 years
Rent Commencement: August 29th, 2001
Rent Expiration: August 31st. 2021
Term Remaining: 3+
Rent Increases: 6% increase every 5 years
Option Periods: Four, 5 Year Options
TENANT WEBSITE: www.circlek.com
Number of Locations: 3,300 in the US
Stock Symbol: (OTCMKTS:ANCUF)
L A Z Y D O G C A F É | F O R T I S N E T L E A S E C i r c l e K | F O R T I S N E T L E A S E
INVESTMENT OVERVIEW
Fortis Net Lease is proud to present a free standing Advance Auto Parts store at the intersection of Superior Ave and Lakeview Rd in Cleve-
land, OH. There are 3+ years remaining on an original 20 year modified NNN lease requiring minimal landlord responsibilities. The Landlord is
only responsible for the slab and structure while the Tenant pays all other expenses including tax, insurance, CAM Roof, Parking lot, and
HVAC. The lease has Four– 5 year option periods after original term which feature 5% rent increases every 5 years.
The subject property is located along a major retail corridor and is surrounded by many national tenants including: Walgreens, Foreman
Mills, Rally’s, Save-a-lot, Dollar General, McDonald’s, Papa Johns, Taco Bell, Wendy’s, Shell, Popeye's and more. This location was recently
rebranded from Kangaroo to Circle K indicating Circle K’s commitment to this site. The non stop customer traffic visiting this location should
assure any Investor that Circle K will exercise their options and lease this site for many more years.
TENANT OVERVIEW
For more than 60 years, Circle K has been one of North America’s most popular and successful operators of convenience stores. Today,
there are more than 6,050 Circle K stores in the United States, which are located in 41states. Circle K Stores, Inc (“Circle K”) is a convenience
store and gasoline service station operator based in Phoenix, Arizona. What began in 1951 with the purchase of three Kay’s Food Stores in El
Paso, Texas, has become one of the nation’s largest chains of company-operated convenience stores. Circle K is known for fast and friend-
ly service all over the world.
Circle K is owned and operated by Alimentation Couche-Tard Inc. or simply Couche-Tard. Couche-Tard is one of the largest company-
owned convenience store operators in the world with more than 16,000 stores across Canada, the United States, Europe, Mexico, Japan,
China, and Indonesia. Couche-Tard is publicly traded on the Toronto Stock Exchange under the symbols ATD.A and ATD.B. Couche-Tard,
has announced the creation of a new global convenience brand, “Circle K”. The new Circle K brand will replace Couche-Tard’s existing
Circle K, Statoil, Mac’s and Kangaroo Express branding on stores and service stations across Canada, the USA, Scandinavia, Central and
Eastern Europe. The new Circle K brand will also appear on licensed stores worldwide.
L A Z Y D O G C A F E | F O R T I S N E T L E A S E C i r c l e K | F O R T I S N E T L E A S E
Gainesville, FL
The Florida city of Gainesville is the county seat of Alachua County, and also the county's largest city. It is situated 37 miles north of Ocala, 71
miles southwest of Jacksonville and 114 miles northwest of Orlando. The city is served by an extensive road system, including Interstate 75, US
Route 301, US Route 441 and Florida State Highways 20, 24 and 26. Gainesville is noteworthy for being the home of the University of Florida, Flori-
da's principal state university and the fourth-largest university in the nation. Gainesville is also home to Santa Fe Community College, one of the
largest community colleges in the U.S.
Incorporated in 1869, Gainesville was named in honor of General Edmund Pendleton Gaines, a noted commander in the Second Seminole War.
During the latter part of the 19th century, the city and its county prospered, riding the success of the citrus and phosphate industries. The city's
advantageous central location also made it a prime target of the burgeoning railroad industry. Although the early part of the 20th century
brought the boll weevil and its devastating effect on cotton crops, the new century also brought construction of the University of Florida (1906),
giving Gainesville a staple that would later prove vital in helping the city's economy weather the depression era. The university has also been a
key factor in the continued prosperity of Gainesville during the latter half of the 20th century. Today, Gainesville boasts world class medical facil-
ities, historic districts, new or newly-restored city buildings and numerous cultural venues.
P O T B E L L Y & T - M O B I L E | F O R T I S N E T LE A S E C i r c l e K | F O R T I S N E T LE A S E
P O T B E L L Y & T - M O B I L E | F O R T I S N E T LE A S E L A Z Y D O G C A F E | F O R T I S N E T L E A S E C i r c l e K | F O R T I S N E T L E A S E
L A Z Y D O G C A F E | F O R T I S N E T L E A S E C i r c l e K | F O R T I S N E T L E A S E
SW 34th St. ADT: 36,669 VPD
Subject Property
C i r c l e K | F O R T I S N E T L E A S E
Top Employers in Alachua County
University of Florida
UF Health
Alachua County School Board
North FL/South GA Veterans Health System
City of Gainesville
Publix Supermarkets
North Florida Regional Medical Center
148,080 People Live
Within 5 Miles Average
Household Income
Exceeds $64,000
Within 5 Miles
P O T B E L L Y & T - M O B I L E | F O R T I S N E T LE A S E L A Z Y D O G C A F E | F O R T I S N E T L E A S E C i r c l e K | F O R T I S N E T L E A S E
Population: 1 Mile 3 Mile 5 Mile
2022 Projection 19,472 76,107 155,427
2017 Estimate 18,737 72,776 148,080
2010 Census 18,591 69,004 138,201
2017 Population Hispanic Origin 2,906 9,990 16,235
2017 Population by Race:
White 11,339 49,402 103,007
Black 3,654 12,718 27,909
Am. Indian & Alaskan 66 246 481
Asian 3,029 7,964 12,152
Hawaiian & Pacific Island 10 74 117
Other 640 2,372 4,414
U.S. Armed Forces: 0 13 48
Households:
2022 Projection 9,074 31,069 65,309
2017 Estimate 8,718 29,556 62,084
2010 Census 8,589 27,532 57,586
Growth 2017 - 2022 4.08% 5.12% 5.19%
Owner Occupied 730 6,055 24,957
Renter Occupied 7,988 23,502 37,127
2017 Avg Household Income $31,115 $43,751 $64,444
2017 Med Household Income $20,630 $27,424 $40,739
2017 Households by Household Inc:
<$25,000 4,872 13,735 21,098
$25,000 - $50,000 2,279 7,555 14,428
$50,000 - $75,000 942 3,661 8,413
$75,000 - $100,000 270 2,024 6,214
$100,000 - $125,000 155 767 2,978
$125,000 - $150,000 37 576 3,276
$150,000 - $200,000 146 683 2,913
$200,000+ 17 555 2,766
Population 1 Mile 3 Mile 5 Mile
2017 Total Population: 18,737 72,776 148,080
2022 Population: 19,472 76,107 155,427
Pop Growth 2017-2022: 3.92% 4.58% 4.96%
Average Age: 26 28.5 33.3
Households
2017 Total Households: 8,718 29,556 62,084
HH Growth 2017-2022: 4.08% 5.12% 5.19%
Median Household Inc: $20,630 $27,424 $40,739
Avg Household Size: 2.1 2.1 2.2
2017 Avg HH Vehicles: 1 1 2
Housing
Median Home Value: $82,465 $138,481 $181,468
Median Year Built: 1988 1984 1983
P O T B E L L Y & T - M O B I L E | F O R T I S N E T LE A S E L A Z Y D O G C A F E | F O R T I S N E T L E A S E C i r c l e K | F O R T I S N E T L E A S E
P R E S E N T E D BY: MARVIN DE LAURA
Senior Director 248.419.3811 [email protected]
Circle-K Gas & Convenience Store [ www.fortisnetlease.com