hhgregg

Sanford (Orlando), FL

Price $5,500,000
Cap Rate 9.55%
Property Type Retail
Property Use Consumer Electronics
Lease Type NN
Remaining Term 7 yrs
Building Size +/- 30,000 SF
Current NOI $525,000

hhgregg_Logo.png

Outstanding Store Sales

The Sanford hhgregg is purportedly among the top 10 stores in terms of sales. For 2012 through 2014, the average Sanford sales were ~$480 per square foot, revealing a healthy 3.7% rent-to-sales ratio.

Florida Commitment

hhgregg has launched a “Grand Reopening” store redesign campaign, and the Sanford location is among the first to benefit.

Adjacent multi-family development

The Residences of Seminole is a 175 unit apartment community and is slated to begin development in early 2016. The Class A project will boost area households and attract consumer dollars to area retailers.

Strong Retailer Submarket 

hhgregg is well positioned within a concentrated and established retailer marketplace including Michaels, Bed Bath & Beyond, Walmart, Marshalls, Target, as well as a variety of nationally recognized restaurants. 

Well positioned big-box retailer

hhgregg is an industry leading appliance and electronics retailer. With over seven (7) years remaining on a corporate backed lease, the Sanford hhgregg big-box is well positioned for the near and long term.

Financing Available

The Property has been prescreened for financing by NorthMarq Capital.

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Location Overview

Sanford is a port city in the central region of Florida. It is the county seat of Seminole County. As of the 2010 census, the city had a population of 53,570. It is a principal city of the Orlando–Kissimmee–Sanford, FL Metropolitan Statistical Area, which was home to 2,267,846 people as of the 2013 census.

Sanford is home to Seminole State College of Florida, the Central Florida Zoo and Botanical Gardens. Its downtown attracts tourists with shops, restaurants, a marina, and a lakefront walking trail. The Orlando Sanford International Airport, which is in the heart of the town and headquarters the Aerosim Flight Academy (formerly the Delta Connection Academy), functions as the secondary commercial airport for international and domestic carriers in the Orlando metropolitan area.

The booming retail activity just west of downtown includes one of the largest malls in Central Florida, The Seminole Towne Center, as well as numerous retail enclaves surrounding the Property. One of the area’s largest congregations of auto and motorcycle dealers is located in this vicinity as well.

Sanford falls within the Greater Orlando MSA, which is best known for its tourism industry that attracts millions of visitors each year. Famous attractions include Walt Disney World Resort, SeaWorld, and Universal Studios. Tourism has brought to Orlando numerous hotels, restaurants, and shopping malls all ranging from low-cost to upscale options.

Metro Orlando has served as a major military defense and aerospace center since World War II. The most prominent defense contractor in the area is Lockheed Martin, which operates both a laboratory and a manufacturing facility in Orlando.

Location Overview

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Confidentiality Agreement
 

This Confidentiality Agreement (the “Agreement”) is entered into as of the ____ day of __________, 2015 by and between Van Barron of Stan Johnson Company (“Disclosing Party”), and _________________________________________ (“Interested Party”). 1. Confidential Information. In connection with the desire of the Interested Party to explore the possibility of acquiring certain real property (the “Property”), the Disclosing Party agrees to furnish to the Interested Party certain information (the “Confidential Information”) upon the terms and conditions set forth in this Agreement. “Confidential Information” shall mean all information related to the Property that the Disclosing Party has furnished and will furnish to the Interested Party, whether tangible or intangible, and in whatever form or medium provided, as well as all information generated by the Interested Party or by its Representatives (as hereinafter defined), that contains, reflects, or is derived from the furnished information. Publicly available information shall not be considered part of the Confidential Information. 2. Maintaining Confidentiality of and Use of Confidential Information. The Interested Party acknowledges the confidential and proprietary nature of the Confidential Information, and, in consideration of the Disclosing Party’s disclosure of the Confidential Information to the Interested Party, the Interested Party agrees: (a) to protect and hold in confidence all Confidential Information disclosed to the Interested Party by the Disclosing Party; (b) to use the Confidential Information solely for the purpose of evaluating the Interested Party’s potential acquisition of the Property, and not in any way for the Interested Party’s own private or commercial purposes or otherwise in a manner detrimental to the Disclosing Party or to the owner of the Property, or for any other purpose; (c) to take all reasonable and customary precautions necessary to ensure that the Confidential Information is not disclosed to any person other than the Interested Party and those of its Representatives described in Subparagraph 3(d) below; and (d) to restrict disclosure of the Confidential Information solely to those of its officers, directors, members, managers, partners, employees, affiliates, agents, consultants, and/or representatives (collectively, "Representatives") who need to know the Confidential Information for the purpose of assisting the Interested Party in evaluating its interest in the Property, who are informed of this Agreement, and who agree to be bound by the terms of this Agreement as if a party hereto. Without the prior, written consent of the Disclosing Party, neither the Interested Party nor its Representatives shall disclose to any person the fact that the Interested Party has received any of the Confidential Information or that discussions or negotiations are taking place concerning the Property, including the status thereof. 3. Return or Destruction of Confidential Information. Upon the Disclosing Party’s written request, the Interested Party will either destroy or return to the Disclosing Party all copies of the Confidential Information and any copies or extracts thereof, except to the extent reasonably necessary to be held for a period of time for tax, accounting or legal purposes, provided such information shall continue to be held in a confidential manner. 4. Disclosure Required by Governmental Authority. In the event that the Interested Party or any Representative to whom the Interested Party has supplied the Confidential Information is requested to disclose the Confidential Information by a court or other governmental authority, the Interested Party agrees: (a) to notify the Disclosing Party immediately of the existence, terms, and circumstances surrounding the request; (b) to consult with the Disclosing Party on the advisability of taking legally available steps to resist or narrow such request; and (c) if disclosure of such Confidential Information is required to prevent the Interested Party from being held in contempt or subject to other penalty, to furnish only such portion of the Confidential Information as it is legally compelled to disclose, and to exercise its best efforts to obtain an order or other reliable assurance that confidential treatment will be accorded to the disclosed Information. 5. No Legal Obligation. The Interested Party agrees that, unless and until a definitive agreement between the owner of the Property and the Interested Party with respect to the Property has been executed and delivered, neither the Disclosing Party nor the Interested Party shall be under any legal obligation of any kind with respect to the Property by virtue of this Agreement except for those matters specifically agreed to in this Agreement or in any other written agreement signed by the parties. 6. No Representation or Warranty. Although the Disclosing Party has endeavored to include in the Confidential Information concerning the Property which the Disclosing Party believes to be reliable, accurate, and relevant for purposes of the Interested Party’s evaluation, neither the Disclosing Party nor any of its Representatives makes any representation or warranty as to the reliability, accuracy, or completeness of the Confidential Information, and neither the owner of the Property, the Disclosing Party, nor either of their respective Representatives shall have any liability to the Interested Party or any of its Representatives resulting from the provision of the Confidential Information to or use of the Confidential Information by the Interested Party or any of its Representatives. Any definitive written agreement among the parties shall supersede this provision to the extent inconsistent. 8. Damages. The Interested Party acknowledges and agrees that, in the event of any breach of this Agreement, the Disclosing Party would be irreparably injured, and that monetary damages for such breach may be inadequate. It is accordingly agreed that the Disclosing Party, in addition to any other remedies available to the Disclosing Party at law or in equity, shall be entitled to seek injunctive relief or specific performance, or both, to remedy any breach of this Agreement or to enforce the terms hereof. 9. Representations of Interested Party. The Interested Party represents and warrants to the Disclosing Party that it has the power and authority to enter into this Agreement, and that this Agreement has been executed by its duly authorized officers or agents and constitutes a valid, binding, and enforceable obligation of the Interested Party. 10. Attorney’s Fees. In the event the either party employs an attorney or otherwise takes action to enforce or defend their rights and obligations under this Agreement, the non-prevailing party shall pay all reasonable costs and expenses, including reasonable attorney’s fees, incurred by the prevailing party in connection therewith. 11. No Waiver. No failure or delay by the Disclosing Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power, or privilege preclude any other or further exercise thereof. 12. Governing Law and Venue. This Agreement shall be governed and construed in accordance with the laws of the State of Florida without giving effect to conflicts of laws principles. Any action or proceeding arising out of or related in any way to this Agreement shall be brought solely in the state or federal courts in the state of Florida. 13. Modification. The terms and conditions of this Agreement may be modified or amended only by a separate writing signed by the parties expressly modifying or amending the terms and conditions hereof. 14. Termination. This Agreement shall terminate one year from the date of this Agreement.

By submitting this form, you are agreeing to the listed terms and conditions.
 

Van Barron
Associate Director
[email protected]
+1 404.823.6758


In association with
Jason Long Florida #BK3302956

Stan Johnson Company Atlanta

3340 Peachtree Road NE, Suite 650
Atlanta, GA 30326
Ph: 404-823-6360

 

stanjohnsonco.com

CIty, ST
Price | Cap Rate

CIty, ST
Price | Cap Rate

CIty, ST
Price | Cap Rate