$6,600,000 + 5.00% STNL TROPHY FLAGSHIP LOCATION ALONG I-DRIVE - Ground + Space
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Representative Photo
IN
TE
RN
AT
IO
NA
LD
RI
VE
STNL TROPHY FLAGSHIP LOCATION ALONG I-DRIVE
Michael Zimmerman
7364 International Dr. $6,600,000 + 5.00% Ground + Space, Principal
Chapel Hill, NC + 919.391.9901
Orlando, FL 32819 michael@groundandspacepartners.com
Table of Contents
The information contained herein does not purport to provide a complete or fully accurate summary of the Property or any of the
Investment Overview 3 documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may
need or desire. All financial projections are based on assumptions relating to the general economy, competition and other factors
Investment Highlights 4 beyond the control of the Owner and Broker and, therefore, are subject to material variation. This Offering Memorandum does not
Financial Analysis 5 constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of
preparation of the information herein. Additional information and an opportunity to inspect the Property will be made available to
Parent Company Profile 6 interested and qualified prospective Buyers.
Neither the Owner nor the Broker—nor any of their respective officers, agents or principals—has made or will make any
representations or warranties as to the accuracy or completeness of this Offering Memorandum or any of its contents, and no legal
Market Overview 7 commitment or obligation shall arise by reason of the Offering Memorandum or its contents. Analysis and verification of the information
contained in the Offering Memorandum is solely the responsibility of the prospective Buyer, with the Property to be sold on an as-is
Market Aerial 8 basis without any representations as to the physical, financial or environmental condition of the Property.
Epic Universe 10 The Owner and Broker expressly reserve the right to reject any or all expressions of interest or offers to purchase the Property and/
I-Drive Development 11 or terminate discussions with any entity at any time with or without notice. Owner has no legal commitment or obligations to any
entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until such sale of the Property is
Major Points of Interest 13 approved by the Owner in its sole discretion, a written agreement for purchase of the Property has been fully delivered and approved by
Orlando Overview 14 the Owner and its legal counsel and any conditions to the Owner’s obligations thereunder have been satisfied or waived.
This Offering Memorandum and its contents, except such information which is a matter of public record or is provided in sources
available to the public, are of a confidential nature. By accepting this Offering Memorandum, you unconditionally agree that you will hold
and treat the Offering Memorandum and its contents in the strictest confidence, that you will not photocopy or duplicate the Offering
Memorandum or any part thereof, that you will not disclose the contents of the Offering Memorandum to any other entity (except in
the case of a principal) or to third-party institutional lenders for financing sought by you, if necessary, in your opinion, to assist in your
determination of whether or not to make a proposal, without the prior authorization of the Owner or Broker, and that you will not use
the Offering Memorandum or any of its contents in any fashion or manner detrimental to the interest of the Owner or Broker.
Exclusively Presented By:
Michael Zimmerman, Principal
Ground and Space, LLC
T: 919.391.9900
M: 954.290.6366
michael@groundandspacepartners.com
© 2022 Ground and Space, LLC | The information herein has been obtained from sources deemed reliable.
Visit us online at groundandspacepartners.com. However, its accuracy cannot be guaranteed. The user is required to conduct their own due diligence and verification.
Trulieve + Table of Contents groundandspacepartners.com + 2
Representative Photo
Investment Overview
Trulieve
Orlando, Florida
Investment Overview
Trulieve + Investment Overview groundandspacepartners.com + 3
Representative Photos
Investment Highlights
I-DRIVE LOCATION
7364 International Drive
Orlando, FL 32819
Exceptional Investment Opportunity
The Subject Property boasts a 10-year lease with two options to
extend. The lease features three percent (3%) annual increases
within the base term and both five-year option periods, which
act as a hedge against future inflation. There are no landlord
maintenance responsibilities on this Ground lease, making this an
The property will be Trulieve's FLAGSHIP ideal asset for a passive investor in a state with no income tax.
LOCATION in Orlando and will feature luxury
amenities, including a customer lounge.
Trophy Flagship Location
Currently undergoing approximately $1.5 million in renovations
by the tenant, the Subject Property is slated to become Trulieve’s
flagship property in the Orlando market. This irreplaceable
real estate sits along International Drive adjacent to Universal
Orlando. I-Drive continues to increase its presence as a major
player in Orlando’s tourism industry. More than $2 billion of high-
profile development projects are planned for 2022 and beyond.
Additionally, the city of Orlando was ranked the top “buy market”
in the United States according to a 2020 “Emerging Trends in
Real Estate” report.
Florida’s No. 1 Medical Marijuana Company
With more than 100 medical marijuana dispensaries now open in
Florida, Trulieve is not only the No. 1 medical marijuana company
in the state, but in the nation as a whole. Trulieve has a market
cap of $4.59 billion, and has reported 14 consecutive quarters
of profitability. Trulieve saw a staggering 80 percent (80%)
revenue increase in 2021 to $938.4 million. The company
also added roughly 1.6 million square feet of cultivation and
processing capacity through a combination of organic growth
and strategic acquisitions.
Trulieve + Investment Highlights groundandspacepartners.com + 4
FINANCIAL PROPERTY DESCRIPTION BASE TERM RENT SCHEDULE
ANALYSIS Tenant Trulieve, Inc.
Year 1 $325,500 $35.00/SF —
Property Address 7364 International Dr.
Year 2 $335,265 $36.05/SF 3%
City, State, Zip Orlando, FL 32819
Asking Price Year 3 $345,309 $37.13/SF 3%
Rentable Area ± 9,300 SF
$6,600,000 Year 4 $355,632 $38.24/SF 3%
BASE TERM
Land Size ± 0.914 AC
Year 5 $366,327 $39.39/SF 3%
Year Built/Renovated Renovations Underway
Year 6 $377,301 $40.57/SF 3%
Year 7 $388,647 $41.79/SF 3%
NOI LEASE SUMMARY Year 8 $400,365 $43.05/SF 3%
$329,658 Guarantor Trulieve, Inc. Year 9 $412,362 $44.34/SF 3%
Rent Commencement November 6, 2021 Year 10 $424,731 $45.67/SF 3%
Lease Expiration November 30, 2031
Cap Rate Lease Term 10 Years PARCEL OVERVIEW
5.00% Lease Type Ground
Net Operating Income $329,658 ($35.45/SF)
Rental Increases 3% Annually
Options to Renew (2) 5-Year Options
Landlord Maintenance No Responsibilities
SUBJECT PROPERTY
Tenant Opening Est. Q1 2023
PARENT COMPANY OVERVIEW
Trulieve (CSE: TRUL) (OTCQX: TCNNF) is an industry
leading, vertically integrated cannabis company and multi-
state operator in the United States. Trulieve is Florida’s
leading medical cannabis provider, and recently celebrated
the opening of its 100th dispensary in the state in October
2021. The company saw an 80 percent (80%) revenue
increase in 2021 to $938.4 million. For 2022, Trulieve
anticipates yet another revenue increase to roughly $1.2
or $1.3 billion.
Trulieve + Financial Analysis groundandspacepartners.com + 5
MAJOR MILESTONE: On October 18, 2021, Trulieve opened its 100th Florida dispensary.
Trulieve is the leading medical cannabis provider in the state of Florida and the largest multi-state operator (MSO) in the country.
Representative Photos
TRULIEVE (CSE: TRUL) (OTCQX: places like Massachusetts, California,
TCNNF) is an industry leading, Connecticut and Pennsylvania, the
vertically integrated cannabis company company added application wins in
and multi-state operator in the United West Virginia in its Northeast hub and
States. The company currently has Georgia in its Southeast hub in 2021.
a footprint in 11 states, with leading Today, with the completion of
market positions in Arizona, Florida the acquisition of Harvest Health &
and Pennsylvania. Trulieve is poised Recreation, Inc. (CSE: HARV) (OTCQX:
for accelerated growth and expansion HRVSF), Trulieve has more than 100
in 2022 and beyond, building scale stores in Florida and approximately
in retail and distribution in new and 162 operated and affiliated
existing markets through its powerful dispensaries nationwide, along with
hub strategy. four million square feet of cultivation
By providing innovative, high- and processing capacity in the
quality products across its brand United States. The Trulieve footprint
portfolio, Trulieve delivers optimal now reaches into Pennsylvania 2021 Financial + Operational Highlights:
customer experiences and increases and Maryland, as well as into the + Revenue increased 80 percent (80%) year-over-year + Received a notice of intent to award a Class 1
access to cannabis, helping patients Southeast with additional stores and to $938.4 million in 2021 production license in the state of Georgia
live without limits. Strong financial cultivation and production facilities in + Gross profit of $566.1 million and gross margin of + Industry leading U.S. retail network of 162
60.3 percent (60.3%) in 2021 dispensaries, up 116 percent (116%) from 2020
performance, driven by sales to a Florida. New dispensaries are popping + Cash at year end of $234 million + Retail operations supported by over four million
loyal and dedicated group of patients up in California, along with new + Closed seven acquisitions valued around $1.5 billion, square feet of cultivation and processing capacity, up
including Harvest and Keystone Shops 107 percent (107%) from 2020 (as of March 2022)
affectionately called “Trulievers,” cultivation and production facilities in + Added 84 dispensaries in 2021, increasing Trulieve's
positions Trulieve’s commitment to Nevada and Colorado. retail footprint by 112 percent (112%) to 159 retail
continue its pattern of enormous Trulieve saw a staggering 80 locations nationwide at year end
+ Closed 2021 with operations in 11 U.S. states, with
growth well into the future. percent (80%) revenue increase in Company Trulieve, Inc.
30 percent (30%) of the company's retail locations
As the company continues to 2021 to $938.4 million. The company outside the state of Florida Ownership Public
+ Added around 1.6 million square feet of cultivation
expand as a multi-state operator also added roughly 1.6 million square and processing capacity through organic growth and Stock Exchange CSE: TRUL/OTCQX: TCNNF
(MSO) in its hub model, Trulieve is feet of cultivation and processing acquisitions in 2021, increasing capacity by 89
broadening its support into new capacity through a combination of percent (89%) to over 3.5 million square feet Headquarters Quincy, Florida
+ Commenced cultivation and retail operations in
states. In addition to new operations in organic growth and acquisitions. Massachusetts and West Virginia Website TRULIEVE.COM
Trulieve + Parent Company Profile groundandspacepartners.com + 6
Representative Photo
Market Overview
Trulieve
Orlando, Florida
Market Overview
Trulieve + Market Overview groundandspacepartners.com + 7
STEPS FROM UNIVERSAL ORLANDO MAP KEY
SAND
= Shopping Center
L
MARKETPLACE AT DR. PHILLIPS
AK E R
= Elementary, Middle
or High School
D.
ORANGE TREE GOLF CLUB
RD.
Y LAKE
SUBJECT PROPERTY TURKE
194,000
CARS PER DAY Y LAKE
RD.
TURKE
NA L DR.
NATIO
INTER
UNIVERSAL BLVD.
D.
MAN R
S KIRK
KE
PI
ORLANDO INTERNATIONAL
RN
PREMIUM OUTLETS
TU
S
A’
D
RI
O
FL
ORLANDO OUTLET
MARKETPLACE
VIN
ELA
ND
RD
.
D. LV
RSAL B
UNIVE
MART
THE MALL AT MILLENIA
INDUSTRIAL SECTOR
IN AN
W OA
DERS
37,500
K RID
CARS PER DAY
EN BE
GE RD
A
CHLIN
SAND
.
E EXP
98,100
LAKE
CONR
CARS PER DAY
Y.
RD
OY R
.
CENT
D.
RAL F
LORID
WY.
NG PK
N YOU
A PKW
S JOH
Y.
SOUTHPARK CENTER
INDUSTRIAL SECTOR
KWY.
N YO UNG P
S JOH
T Trulieve
E X A S R+OMarket
ADHOU Aerial
SE | RI NIEVREI R
A A
STV
LMI EEW
N TO H
V IEGRHVLI E
I GWHTS groundandspacepartners.com + 8
3,773 STUDENTS
RD. 194,000
Y LAKE
TURKE CARS PER DAY
SUBJECT PROPERTY
R.
NAL D
NATIO
W SAND LAKE RD.
INTER
A AVE.
CANAD
CAR
RIER
IN
DR.
TE
RN
AT
IO
NA
UNIVERSAL BLVD.
The acclaimed I-Drive District is
L DR
home to seven of the world’s most
.
popular theme parks, and more than
40 other thrilling attractions.
IRREPLACEABLE TROPHY REAL ESTATE
What sets I-Drive apart as Orlando’s most dynamic destination?
+ Seven of the world’s greatest, most popular theme parks, plus more than 40 + More than 125 fantastic hotels and resorts
additional tourist-friendly attractions for all ages + 47,909 individual accommodations (126,000 in Central Florida)
+ Four entertainment complexes + The nation’s second-largest convention center
+ Nearly 60 music, comedy and nightlife venues + The convenient, free and fun I-RIDE Trolley service
+ Three stadium-style movie theatres + 14.8 million overnight and day visitors
+ More than 600 designer, brand name and outlet stores + More than $2 billion in current and planned development
+ Over 300 spectacular restaurants serving up global flavors Visit INTERNATIONALDRIVEORLANO.COM for more information.
T Trulieve
E X A S R+OMarket
ADHOU Aerial
SE | RI NIEVREI R
A A
STV
LMI EEW
N TO H
V IEGRHVLI E
I GWHTS groundandspacepartners.com + 9
Universal Orlando's Epic Universe: Construction Underway The newest addition to Universal Orlando's theme parks is the highly anticipated Epic Universe. Located some 15 minutes down The park will house at lease three the road from the North Campus major intellectual properties: entries of Universal Orlando—home to from DreamWorks Animation, Universal Studios Florida, Islands of Illumination (the makers of Despicable Adventure and Volcano Bay—EPIC Me) and Nintendo, which will anchor UNIVERSE will be the flagship theme the whole theme park. These four park at Universal Orlando's South themed lands will branch off in the Campus. Construction on this new traditional wheel-and-spoke design theme park recommenced on March popularized by Disneyland back in 3, 2021 and, once complete, Epic 1955. The park will feature at least Construction status of Super Nintendo World as of April 3, 2022, Universe will be the largest Universal four new roller coaster attractions, which will be situated near the center of Epic Universe. park in the United States (and one based on the DreamWorks second globally only to the upcoming property How to Train Your Dragon. Universal Studios Beijing). This launched steel coaster will Expected to open in 2025, have a similar experience to that of Universal's Epic Universe will offer Hagrid's Magical Creatures Motorbike an entirely new level of experiences Adventure in The Wizarding World that will forever redefine theme park of Harry Potter. However, the most entertainment. Guests will have the thrilling ride at Epic Universe is opportunity to travel into beloved expected to be the dual-track racing stories and through vibrant lands on coaster near the center of the park. adventures where the journey is as This multi-launch coaster will feature astounding as the destination. Epic two tracks that race side by side for Universe will feature a theme park, an most of the ride. entertainment center, hotels, shops, restaurants and so much more. Visit UNIVERSALORLANDO.com. Trulieve + Epic Universe groundandspacepartners.com + 10
International Drive Development: 2022 and Beyond
I-Drive continues to increase its presence as a major player in Orlando’s tourism industry.
E.
AV 30
N D
LA
NE
VIL
RE LAG
VI
GE E
LAKE ST.
29
NC DR
SUBJECT PROPERTY
18
Y .
W Y. TURKEY LAKE RD.
PK
ER
RT
CA
YL
DA
R 28
27 WESTWOOD
CONNECTION OCCC WEST TURKEY LAKE RD.
BRIDGE CONCOURSE SAMOAN CT. AUSTRIAN CT. JAMAICAN CT.
26 11
WES
T WO 12
OD B
LVD. 17
16 15
PL POIN
AZ TE
CARRIE DR.
AA VISITORS CIR.
VE UNIVERSAL BLVD. CANADA AVE.
IN
SE .
AH
TE
CO
AR 10
RN
LAKEHURST DR.
N
25 BO
RD T.
VE 7
AT
NT
CENTRAL FLORIDA PKWY.
R. NC
I
AIIA IO
O
HAW N
N
W 9 UNIV
AL
VINELAND RD.
AY ERSA
MAJOR BLVD.
24 23
D
L BLV
6
R.
D.
AM W
21 8
SAND LAKE RD.
ER AY
5
ICA
WINDHOVER
N
DR.
LVD.
KIRKMAN RD.
20 14
RSAL B
22 4
DESTIN
VANQUARD ST.
OCCC NORTH/SOUTH
CONCOURSE
CARRIE DR.
DEL VERDE WAY
ADRIANA AVE.
BEACH LINE EXPY.
GRAND
13
UNIVE
NATIONAL
ATION PK
.
ND RD DR.
A VINELA
APOPK
FUN SPOT WAY
19 CARAVAN
OAK RIDGE RD.
ALTAMIRA DR.
WY.
CT. .
TRADESHOW MUNICIPAL DR. KE
BLVD. TP
A’S
S INTERNATIONAL DR.
ID
3 FL
OR
WORLD CENTER DR.
Lake Bryan INTERNATIONAL DR. 15 MIN. TO
DOWNTOWN
ORLANDO, FL
15 MIN. TO 2 1 D.
BLV
31 LE
NIA
TO MIAMI, FL MIL
INTERNATIONAL DR.
JOHN YOUNG PKWY. JOHN YOUNG PKWY.
1. Deseo Grande: This five-story apartment community features 365 units 3. Club de Regatas do Flamengo Store Naçãgo Rubro-Negra: This 5. King Cajun Crawfish Restaurant: This 2,400-square-foot Louisiana-
(April 2022 completion). An additional 365 units will be added in the future. 1,100-square-foot retail store is owned by one of Latin America’s biggest style seafood restaurant is now open at Four Points by Sheraton.
Visit ALAPTS.COM for more information. soccer teams and will sell hats, jerseys and other popular merchandise items. Visit KINGCAJUNCRAWFISH.COM for more information.
Visit LOJA-FLAMEGO.COM.BR for more information.
2. Storey Drive Resort: This 77-acre mixed-use development will include 6. Rita’s Italian Ice & Frozen Custard: Completed in early 2022, this
a mix of 526 single-family vacation homes, condos and townhomes. The 4. Volcano Hot Pot & BBQ: Situated on the site of a former Sweet restaurant serves over 60 flavors of Italian ice, frozen custard and gelato.
property will feature multiple lakes, a community clubhouse with a resort-style Tomatoes restaurant, this new concept will feature a menu of meats and Visit RITASICE.COM for more information.
pool, a restaurant and a water park. Construction began in February 2022. vegetables that are prepared at table grills or boiled in hot pots.
Visit CASIOLA.COM for more information. Visit VOLCANOHOTPOT.COM for more information. SEE THE NEXT PAGE FOR MORE I-DRIVE DEVELOPMENT NEWS.
Trulieve + International Drive Development groundandspacepartners.com + 11More than $2 billion
of high-profile
development is
planned for I-Drive
in 2022 and beyond.
7. Cambria Hotel Universal Boulevard: This 65,130-square-foot, five- 15. ICON Park: New additions to ICON Park include Sloppy Joe’s, a 23. Paradiso Grande Resort Orlando: Currently under construction,
story hotel will feature 120 rooms. Bookings will begin in September 2022. 4,275-square foot Key West saloon, restaurant and bar. The Park is also this 157-home vacation community will include townhomes and single-family
Visit CHOICEHOTELS.COM for more information. scheduled to welcome Brother Jimmy’s, a famous New York restaurant homes ranging from three to 15 bedrooms. The community will also feature a
concept, in summer 2022. This 7,200-square-foot restaurant will showcase clubhouse, a resort-style pool and walking trails.
8. Triton Cay Universal Apartments: This apartment community will be Southern favorites, BBQ, drinks and live music. Visit PARADISOGRANDEHOMES.COM for more information.
completed in two phases. Phase 1: 345 units in an up to five-story building Visit ICONPARKORLANDO.COM for more information.
and an attached parking garage (now leasing as of January 2022). Phase 2: 24. Orchid Bay Plaza: The two newest restaurant concepts to join
Construction began in September 2021 on an additional 165 units. 16. I-Drive Dedicated Transit Lanes: New dedicated bus transit lanes the shopping center are Parrillada Familiar Da Silva, a 6,000-square-foot
Visit TRITONCAYORLANDO.COM for more information. from Sand Lake Road to the Beachline are currently under construction and Venezuelan steak restaurant, and Asian Food Lounge, an 11,600-square-foot
are scheduled for completion in summer 2023. marketplace featuring multiple operators and a full bar under one roof.
9. Bainbridge Sand Lake: Slated for completion in 2023, this Visit ORANGECOUNTYFL.NET for more information. Visit FRANKLINST.COM for more information.
100,000-square-foot, four-story apartment complex will feature 330 units, a
clubhouse with a resort-style pool and a parking garage. 17. The Pointe Orlando: This all-in-one dining, nightlife and shopping 25. Twenty Pho Hour: The year 2022 began with the opening of I-Drive’s
Visit BAINBRIDGECOMPANIES.COM for more information. complex is located just off busy International Drive. Major attractions and America’s first 2D noodle bar, Twenty Pho Hour. The spectacular
include Central Florida’s largest IMAX Theatre, as well as the family-friendly restaurant concept features an interior that resembles a coloring book.
10. Legacy Universal Apartments: This brand-new, upscale apartment WonderWorks indoor amusement park. The newest addition to The Pointe Visit TWENTY-PHO-HOUR.COM for more information.
community is made up of a four-story structure with 350 units. Amenities Orlando is KAVAS Tacos + Tequila.
include a SkyDeck game room, a heated pool with a summer kitchen, a pet- Visit POINTEORLANDO.COM for more information. 26. Popeyes Louisiana Kitchen: The popular quick-service restaurant
friendly Bark Park and bicycle storage. concept that serves up customer favorite dishes inspired by Louisiana home
Visit LEGACYUNIVERSAL.COM for more information. 18. Sand Lake Vista: This sprawling mixed-use development will include a cooking will open a 2,503-square-foot location that features a drive-thru lane.
four-story, 122-room WoodSpring Suites hotel (bookings open in May 2022); Visit POPEYES.COM for more information.
11. Sand Lake Road Interchange: The Sand Lake Road and Interstate four restaurant pad sites totaling 17,500 square feet; a 30,000-square-foot
4 (I-4) interchange has been re-imagined into a diverging diamond self-storage facility; and the future home of Paramount Urgent Care. 27. Camden Market: Upon completion, this European village-style mixed-
configuration. Construction will be completed in 2026. Visit INTERNATIONALDRIVEORLANDO.COM/ARTICLES for more information. use development will include 380,000 square feet of retail space, 2,120 hotel
Visit I4BEYOND.COM for more information. rooms within four towers and 532 luxury apartment homes.
19. Catchlight Crossings Apartments: Universal’s Housing For Visit INTERNATIONALDRIVEORLANDO.COM/ARTICLES for more information.
12. Hollywood Plaza: New improvements include a dynamic, ribbon-like Tomorrow affordable housing project will consist of 1,000 apartments and
art installation facing Interstate 4 looking north toward downtown Orlando, 16,000 square feet of retail space. Construction is set to begin in late 2022. 28. Altis at Lake Willis: Scheduled for completion in late 2022, this
as well as Tom’s Watch Bar, an 11,000-square-foot sports bar concept from Visit HOUSINGFORTOMORROW.COM for more information. apartment community will feature 329 upscale, garden-style apartment
Smashburger founder Tom Ryan. The latter will be located in the rooftop space homes, a fitness center and a resort-style pool.
above the Hollywood Plaza parking garage and will open in late 2022. 20. Aquatica: SeaWorld’s Water Park debuted its newest attraction, Reef Visit ALTMANCOS.COM for more information.
Visit TOMSWATCHBAR.COM for more information. Plunge, in March 2022. This 330-foot fiberglass waterslide is now home to a
wide variety of marine life. Another recent addition is the 650-foot dueling 29. Vineland Pointe: This three-phase retail center will include 447,500
13. Kirkman Road Extension: This project is a proposed extension water slide, Riptide Race, which opened in April 2021. square feet of retail space on 69.41 acres. Recently completed restaurants
of Kirkman Road South to a connection point at Universal Boulevard. This Visit HOUSINGFORTOMORROW.COM for more information. now open to the public include Walk-On’s, Torchy’s Taco’s, Shake Shack,
development is a result of a public-private partnership between FDOT, Orange Pinstripes and Crumbl Cookies.
County and Universal. The total project length is about 1.7 miles and is 21. SeaWorld Orlando: Thrilling Orlando visitors since 1973, SeaWorld Visit VINELANDPOINTEORLANDO.COM for more information.
scheduled for completion in 2025. offers up-close animal experiences, roller coasters and a chance for visitors to
Visit CFLROADS.COM for more information. make a difference. The theme park’s newest addition, completed in February 30. AREA15: The Las Vegas attraction is coming to Orlando in 2024.
2022, is the Ice Breaker, a multi-directional launch coaster with a 93-foot Located on the southeast corner of Interstate 4 at the intersection of Lake
14. Universal’s Epic Universe: Epic Universe will feature a new theme spike with a 100-degree angle. Another new attraction is Infinity Falls, where Street and Regency Village Drive, this 300,000-square-foot art experience
park, an entertainment center, hotels, shops, restaurants and more on a visitors can journey through the remains of a lost jungle civilization. will act as an immersive playground for thrill-seeking visitors.
750-acre site. The new theme park will be located a few miles from Universal Visit SEAWORLDORLANDOCOM for more information. Visit AREA15.COM for more information.
Orlando’s current theme parks in Southwest Orange County. The Epic
Universe project will infuse billions of dollars into the Florida economy and will 22. Florida Highway Safety & Motor Vehicles: Troop D’s Orlando 31. The Addison Lake Bryan Apartments: This new apartment
generate more than 14,000 permanent jobs. headquarters was completed in early 2022. community features 266 units and a club house.
Visit BLOG.DISCOVERUNIVERSAL.COM for more information. Visit FLHSMV.GOV for more information. Visit TWENTY-PHO-HOUR.COM for more information.
Trulieve + International Drive Development groundandspacepartners.com + 12Major Points of Interest
1. Orange County Convention Center
2.0 miles from the Subject Property
The award-winning Orange County Convention Center is the second-
largest meeting and convention facility in the United States. Situated
only 15 minutes from the Orlando International Airport, the Convention
Center is situated at the heart of an area that boasts more than 46,000
hotel rooms. The Convention Center provides around $3 billion in
economic impact to the Central Florida region annually. The Convention
Center averages around 230 events annually, including 115 conventions
and trade shows that attract more than 1.5 million attendees. More
than 25,500 individuals are employed either directly or indirectly by the
activity generated by the Convention Center. The Convention Center
recently embarked upon a $605 million Capital Improvement Plan for 1 2
two Campus Master Plan Projects: an enclosed Grand Concourse that will
connect the North and South Concourses, as well as a 200,000-square-
foot multipurpose venue that will accommodate around 20,000 guests.
Visit OCCC.NET for more information.
2. Orlando International Premium Outlets
2.3 miles from the Subject Property
Spanning more than 773,586 square feet, Orlando International Premium
Outlets is Florida’s largest outlet shopping destination. The destination
center welcomes more than 17 million visitors annually. Located in the
heart of Orlando’s booming hospitality sector, the Outlets are only five
minutes from Universal Orlando and 10 minutes from Walt Disney World.
Visitors and locals can enjoy an array of more than 180 outlet, luxury and
name brand stores including H&M, Tory Burch, Champion, Forever 21,
Old Navy and Guess. In addition, visitors can enjoy over 20 distinct dining
options including Vinito Ristorante.
Visit PREMIUMOUTLETS.COM/OUTLET for more information.
3. Universal Orlando
2.6 miles from the Subject Property
Covering more than 541 acres of land, Universal Orlando is the second-
largest resort in Greater Orlando, second only to Walt Disney World.
Universal Orlando consists of three theme parks (the under construction 3 4
Epic Universe, Universal’s Islands of Adventure and Universal Studios
Florida) along with an on-site waterpark (Volcano Bay), eight Loews
Hotels resorts and much, much more. Universal Orlando is one of the
most visited resorts in the world with an annual attendance of more than
21 million.
Visit UNIVERSALORLANDO.COM for more information.
4. SeaWorld Orlando
4.0 miles from the Subject Property
Millions of visitors have been flocking to SeaWorld Orlando since it
first opened in December 1973. SeaWorld Orlando regularly welcomes
more than 4.5 million visitors annually and provides guests with unique
experiences for the whole family. Visitors can get up close with animals,
ride epic coasters and water slides, or just kick back on pristine beaches.
The centerpiece of SeaWorld Orlando is its main theme park, but visitors
can also explore Aquatica Orlando, Adventure Island water park and
Discovery Cove. SeaWorld also supports animal rescue, rehabilitation and
conservation projects across the globe.
Visit SEAWORLD.COM for more information.
SEE THE NEXT PAGE FOR MORE AREA POINTS OF INTEREST.
5 6
Trulieve + Major Points of Interest groundandspacepartners.com + 13Spotlight On: Orlando, Florida
It’s true: Orlando is a magical place, and not just United States. In addition to Walt Disney World
because it’s home to Cinderella’s castle. There’s and Universal Orlando, the area boasts such
an incredible mix of fun things to do in Orlando, popular parks as Volcano Bay, LEGOLAND, Fun
which makes it an ideal vacation spot for people Spot America, SeaWorld Orlando and more.
of all ages. Although the city’s tourism industry The convention industry is also critical to
was built upon the popularity and success of the region’s economy. Expanded in 2004, the
Major Points of Interest its many theme parks, the number and variety Orange County Convention Center is now
of Orlando attractions have grown to include the second-largest convention complex in the
world-famous restaurant, high-end outlet United States. The city vies with Chicago and Las
5. The Mall at Millenia shopping centers and amazing concert venues. Vegas for hosting the most convention attendees
4.3 miles from the Subject Property Nearly year-round sunshine and a warm, in the country. The Convention Center provides
Known as Orlando's luxury shopping destination, The Mall at Millenia
provides an unparalleled shopping experience with 150 stores, services tropical climate help give the city the nickname around $3 billion in economic impact to the
and eateries, including 40 market exclusive stores. This stunning center “the City Beautiful,” so it should come as no Central Florida region annually.
features an array of luxury boutiques and in-demand brands, including: surprise that Orlando is one of the most-visited
Hermès, Chanel, Louis Vuitton, Gucci, Christian Louboutin, Rolex, Tiffany cities in the world. In fact, Orlando regularly
& Co., Apple, Sephora, Ted Baker London, Under Armour and H&M, plus
Neiman Marcus, Bloomingdale’s and Macy’s department stores. These welcomes more than 60 million visitors each
outstanding retail offerings are surrounded by captivating architecture, year. Also known as the “Theme Park Capital of
breathtaking glass ceilings and one-of-a-kind art pieces to create an the World,” the city is home to seven of the 10
impeccable destination. most-visited theme parks in North America, as
Visit MALLATMILLENIA.COM for more information.
well as the four most-visited water parks in the
6. Orlando International Airport
14.5 miles from the Subject Property
Whether traveling to the city for business or pleasure, Orlando
International Airport (MCO) puts visitors closest to all that Central Florida
has to offer. MCO welcomes over 47 million passengers annually on more
than 35 airlines, providing non-stop service to Orlando from over 150 DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
destinations worldwide. The Airport boasts one of the lowest average
domestic airfares in the United States and serves more domestic cities 2022 Population 3,696 63,454 194,646
than any other airport in Florida. MCO acts as a hub and a focus hub
city for Frontier Airlines, JetBlue Airways and Southwest Airlines. Major Growth (2022-2027) 7.49% 7.50% 7.53%
foreign carriers with a presence at MCO include Aerolíneas Argentinas,
Aer Lingus, Aeroméxico, Air Canada, British Airways, Lufthansa, Emirates Estimated Households 1,452 23,675 71,911
Airlines, Norwegian Air Shuttle, Latam and Virgin Atlantic. The Airport
also features over 90 shops and restaurants, multiple airport lounges and Growth (2022-2027) 6.89% 7.02% 7.10%
a AAA Hyatt Regency Hotel.
Visit ORLANDOAIRPORTS.NET for more information. Average Household Income $127,292 $101,502 $85,268
Trulieve + Orlando Overview groundandspacepartners.com + 14Spotlight On: Orlando, Florida ARTS/ENTERTAINMENT
Orlando residents enjoy a remarkable quality
of life, highlighted by a sunny climate, plentiful
outdoor recreational activities, world-famous
beaches, the best theme parks in the world,
a variety of cultural activities and more.
The region offers health care facilities and
Orlando Metro Highlights exceptional services like Orlando Regional EDUCATION
Medical Center and AdventHealth Orlando.
Cultural opportunities are offered at the Dr.
Diverse Economic Base Phillips Center for the Performing Arts, the
While Orlando is typically known for its tourism industry, the city's Orlando Repertory Theatre, the Opera Orlando,
economy also has strong business and professional services sectors.
Distribution, technology, defense contracting and healthcare are also the Orlando Ballet and the Bach Festival
major players in the Central Florida region's economy. Society. Large educational institutions in the
area include the University of Central Florida, SPORTS
Pro-Business Environment Valenica Community College and the University
The state of Florida has low state and local taxes, as well as no state
personal income tax. This favorable tax structure attracts businesses from of Central Florida. The Orlando International
around the world to the region. Inc. Magazine recently named Orlando the Airport (MCO) is the 13th-busiest airport in the
"Top 10 Best Place in America to Start a Business." country thanks to Orlando's status as one of the
Fast-Growing Metro Area most-visited cities in the entire world.
Over the next five years, Orlando's population is expected to increase by Visit VISITORLANDO.COM for more information.
more than 215,000 people as job gains outpace the national average. This
dramatic increase in population has helped fuel Orlando's retail demand
and high personal consumption.
Burgeoning Life Sciences Sector
The area's life sciences, biotechnology and medical technology industries MAJOR AREA EMPLOYERS
are growing, bolstered in part by the 650-acre health and life sciences
park known as Lake Nona Medical City. The Medical City's pioneering 1. Walt Disney World Resort 6. Publix Super Markets, Inc.
institutions are already forming networks that are transforming Orlando
into a global destination for health care, research and medical education. 2. AdventHealth 7. University of Central Florida
Bustling Labor Market 3. Universal Orlando 8. Lockheed Martin
The Orlando metropolitan area boasts one of the tightest labor markets
in the country, with an unemployment rate that is one of the best in the 4. Orlando Health 9. Siemens Energy
state of Florida. This has helped drive income growth rates well above the
national average, further strengthening purchasing power. 5. Orlando International Airport 10. Westgate Resorts
Trulieve + Orlando Overview groundandspacepartners.com + 15Representative Photo
Exclusively Presented By:
Michael Zimmerman, Principal
Ground and Space, LLC
T: 919.391.9900
M: 954.290.6366 TROPHY I-DRIVE SITE
michael@groundandspacepartners.com 7364 International Drive
Orlando, FL 32819
Visit us online at groundandspacepartners.com.You can also read
