Tampa- W Waters Ave & Himes Ave

Central Tampa (New Development)
W Waters Ave & Himes Ave
Tampa, Florida

10

Sprouts Farmers Market

Florida Overview Map

National Forests In Florida

4
75

SITE

CBSA Target Open Approved Remaining Identified 95
Saturation Targets

Miami 33 3 3 27 27

Orlando 11 2 1 8 7

Tampa 18 7 5 6 4

Sarasota 3 1 0 2 n/a
Cape Coral 3 0 1 2
n/a
Port St Lucie 3 0 1 2
2 0 50
Jacksonville 3 2 0 1 miles
1
Naples 2 1 0 1 n/a

Total 76 16 10 50 68

Print Date: 5/18/20

Sprouts Farmers Market 19 75 52
52
Tampa, FL Tour Overview Map
52 471

SITE

301 Zephyrhills

41 98
597
275

41

Palm Harbor

19

584 580 Lakeland
19
92 539
39 4
92
Town 'n' 301
Country 4

580

Tampa International
Airport

Clearwater 41
Largo
275 Brandon

Riverview

41

MacDill Air 37
Force Base 37

19 92
693
St. Petersburg

0 5 75
miles 41

Print Date: 8/10/20

SITE SUMMARY – Tampa- W Waters Ave & Himes Ave

IRR 26.1%
Sales Forecast $312
Target Customer Count 33,432
Traffic Counts 48,000
Visibility / Access Good
Parking 120 Spaces
Co-Tenancy
Size Possible LAF/EOS
Standard / Not Standard Layout
Rent 23,256
Standard
Meets or exceeds Some issues Needs Discussion $21/psf







PROPOSED
21,725 SF

P ed S Fa e Ma e Ma e P e a

A & H A, , FL : $4,429
C : $2,580
C A : $1,849

41
41

275

5 57

EF A

KD

50 53
41 41
50
275

5

DH

2

574 4

A -0.9% A G. I 41 574
A 41
5-M 7-M 10-M TA 3-M e 4
60
60 : 31,468 57,619 117,652 82,411 105,839 01
D: 24,781 42,069 92,161 54,907 81,319 275
$44,304 $43,935 $45,534 $46,163 $46,321 2 61
HH I : $24,071 $24,126 $24,550 $24,780 $25,572
C I: 5,380 9,494 19,622 13,660 18,469
B ' #: 24.9% 23.9% 24.1% 23.9% 25.1%
B ' %: 14,251 24,747 46,779 33,432 42,366
45.3% 42.9% 39.8% 40.6% 40.0%
C #:
C%

D : 7/23/20

41

Proposed Sprouts Farmers Market

W Waters Ave & N Himes Ave, Tampa, FL

Store #612 Cannibalization Map

597

75

589 597 41
41
Store #612 Sales w/i TA: 75
$241,539 275 301
Store #612 Total Sales: 580
$2,213,512 580
Cannibalization: 41 41 583
10.9%
275
580
589
60
92 92
Print Date: 7/20/20
Tampa International 574 4
Airport 574

41

41

60 4 01
618 miles
275





Proposed deal: Market Comp Worksheet- W Waters Ave & Himes Ave, Tampa, FL
SPROUTS
Size BTS/TA Cost PSF Term Min. Rent Net of TA NNN Gross rent Comments
23,000 BTS $160.00 15 $ 21.00 $ 9.00 $ 5.50 $ 26.50 LL proposes $1 increase every 5 years

Comps: Size BTS/TA Cost PSF Term Min. Rent Net of TA NNN Gross rent Comments
BBBY (N Dale Mabry & Fletcher) 40,000 BTS $100.00 15 $ 14.50 $ 7.00 $ 5.50 $ 20.00 2003 Lease Date. Exercised option in 2018 @ $14.50
Sprouts (N Dale Mabry & Bearss 27,000 As-Is $100.00 10 $ 10.00 $ 2.50 $ 4.32 $ 14.32 TA is estimated internal cost
Publix (N Dale Mabry & Fletcher) 40,000 TA $ 70.00 20 $ 16.00 $ 10.75 $ 5.00 $ 21.00 2018 Lease Date- Tear down and build in place
Whole Foods (Dale Mabry & I-275) 48,000 BTS $150.00 20 $ 24.00 $ 12.75 $ 11.00 $ 35.00 New construction at Tampa Midtown
40,000 As-Is $ 85.00 15 $ 21.00 $ 14.63 $ 6.00 $ 27.00 2012 Lease Date
Nordstrom Rack 30,000 BTS $130.00 15 $ 22.00 $ 12.25 $ 4.67 $ 26.67 9/2020 Delivery Date
Sprouts (Westchase) 30,000 BTS $128.00 15 $ 26.75 $ 17.15 $ 3.50 $ 30.25 Q1 2017 Opening
Sprouts (South Tampa) 30,000 BTS $135.00 15 $ 20.50 $ 10.38 $ 7.00 $ 27.50 1/2021 Delivery Date
Sprouts (Tampa Heights) $-
$-