Sarasota- Tuttle Bee Plaza (Kimco)- S Tuttle Ave & Bee Ridge Rd

Tuttle Bee Plaza
NWC Bee Ridge Rd & S Tuttle Ave
Sarasota, Bradenton-Sarasota MSA, 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 4 5 24 26

Orlando 11 2 2 7 8

Tampa 18 9 3 6 5

Sarasota 3 1 0 2 n/a

Cape Coral 3 1 0 2 n/a

Port St Lucie 3 0 2 1 1 0 50
miles
Jacksonville 3 2 0 1 1

Naples 2 1 0 1 n/a

Total 76 20 12 44 41

Print Date: 8/21/20

S Fa me Ma ke 75 Pa i h 62

B ade - Sa a a, FL 70
T O e ie Ma 75

41
41

B ade

41

7

301

L gb a Ke

Sa a a 70

SITE

G f Ga e 72
E ae

41

61
75

41 Ve ice

Pa ai

41

0 5 776
ie
P i Da e: 8/27/20

SITE SUMMARY – Sarasota, FL-Bee Ridge Rd and
Tuttle Ave

IRR 20.10%
Sales Forecast $266
Target Customer Count 27,059
Traffic Counts 33K/26K
Visibility / Access Excellent
Parking 120
Co-Tenancy
Size TJ Maxx, You Fit,
Standard / Not Standard Layout Dollar Tree
Rent
23,800
Meets or exceeds Some issues Needs Discussion
Not Standard

$18/psf













HAIR SALON SHOPPING CENTER
SEWING OUTPARCELS
CENTER TRUCK ACCESS
SFM RESTRICTED AREA
SFM NO-BUILD AREA

21,725 SF

PRO
PRO EC ED AREA

120
PARKING SPACES









P ed S Fa e Ma e H 90 Ma e P e a
P : $4,555
A &B , , FL 301
C : $5,274
CM F A P : $ -719
780
78 72
41
78 B 75
75

C

41 72
758 75

A -0.4% A G.

5-M 7-M 10-M TA 3-M e

P: 29,568 58,823 110,968 82,724 82,645
73,779 49,153 54,058
D P : 22,589 35,789 $56,116 $57,447 $57,232
$37,203 $38,791 $39,542
M HH I : $56,516 $55,750 28,547 22,309 22,490
34.1% 35.6% 35.8%
P C 0' I : $38,886 2$1357,1,94344 37,769 27,059 27,865
B #: 8,137 34.0% 32.7% 33.7%

B ' %: 36.6% 34.1%

C #: 9,512 19,262

C % 32.2% 32.7% 41

P D : 8/27/20

Proposed Sprouts Farmers Market 780 780 75
41 BR R 75
T A & B R R , Sa a a, FL

S #614 Ca ba a Ma

78

S #614 Sa / TA:
$268,736

S #614 T a Sa : 72
$2,400,882 75

Ca ba a : 41
11.2% 758

72
72

41

681
75

O ca Sc S a Pa

681

01

P Da : 8/27/20







Market Comp Worksheet- Tuttle Bee Plaza (Kimco), Sarasota, Florida

Proposed deal: Size BTS/TA Cost PSF Cap Rate Term Min. Rent Net of TA NNN Gross rent Comments
SPROUTS 23,800 BTS $ 150.00 7.50% 15 $ 18.00 $ 6.75 $ 3.44 $ 21.44

Comps: Size BTS/TA Cost PSF Cape Rate Term Min. Rent Net of TA NNN Gross rent Comments
Bed Bath & Beyond 40,000 BTS $ 100.00 7.50% 10 $ 13.50 $ 6.00 $ 3.71 $ 17.21 10 Year Lease Extension in 2015
Ross Dress For Less 26,000 BTS $ 100.00 7.50% 10 $ 12.35 $ 4.85 $ 3.02 $ 15.37 Exercised 2nd 5-Year option in 2014. Ross self-insures.
45,700 BTS $ 120.00 7.50% 10 $ 16.35 $ 7.35 $ 4.30 $ 20.65
Best Buy 36,000 BTS $ 125.00 7.50% 15 $ 21.00 $ 11.63 $ 5.00 $ 26.00 Initial rate of $19.50; increased to $21.00 in 2015.
Whole Foods 40,000 TA $ 50.00 7.50% 15 $ 14.00 $ 10.25 $ 6.00 $ 20.00 2019 Lease Date
EOS Fitness