Foundation Building Materials | DeLand, FL

FOUNDATION BUILDING MATERIALS

2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

marketing package

TABLE OF CONTENTS

03 Portfolio Overview 04 Investment Summary 05 Lease Summary 06 Building Features 07 Rent Schedule 08 Rent Comparables 09 Aerial 10 Site Plan 11

About the Brand

12 Location Overview CONTACT INFORMATION

CORY KRUPINSKY Associate (818) 620-3989

richard brehaut Director (909) 560-3010

02

2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

PORTFOLIO OVERVIEW TOTAL

LIST PRICE

$27,000,000 Cumulative GLA

250,711 SF

Average Price / SF Average List Price / Asset

$107.69 $5,400,000

Average CAP Rate

5.22%

Total NOI

$1,341,993

Average Rent / SF

$5.17

TENANT

ADDRESS

GLA

LOT SIZE

NOI

CAP RATE

LIST PRICE

FBM

1924 W Princeton St, Orlando, FL

80,000 SF

8.63 AC

$389,040

3.54%

FBM

6001 Orient Rd, Tampa, FL

37,500 SF

6.14 AC

$247,164

MULTI

6695 Colray Ct, Jacksonville, FL

68,611 SF

7.69 AC

FBM

1688 Global Ct, Sarasota, FL

41,400 SF

FBM

2121 FL-472, DeLand, FL

TOTAL

03

LEASE

EXPIRATION

OPTIONS

LEASE TYPE

$11,000,000

05/01/2022

One (1), 3-Year

Triple-Net (NNN)

4.94%

$5,000,000

05/01/2022

One (1), 3-Year

Triple-Net (NNN)

$465,249

9.30%

$5,000,000

See OM

See OM

See OM

6.59 AC

$148,440

3.71%

$4,000,000

07/01/2023

Two (2), 3-Year

Triple-Net (NNN)

23,204 SF

2.60 AC

$92,100

4.61%

$2,000,000

05/01/2022

One (1), 3-Year

Triple-Net (NNN)

250,711 SF

31.65 AC

$1,341,993

5.22%

$27,000,000

2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

INVESTMENT SUMMARY Tenant Street Address City State Zip GLA Lot Size Year Built

Foundation Building Materials 2121 FL-472 DeLand FL 32724 23,204 SF

$

$2,000,000 LIST PRICE

% 4.61% CAP RATE $

$92,100

NET OPERATING INCOME

2.60 AC

Price / SF

$86.19

1986

Rent / SF

$3.96*

* Rent is 54% below market, see page 8 for rent comparables

Short-Term Lease with Below Market Rents Foundation Building Materials current term expires in 2022 with one (1), 3-year option. At $3.96/SF, FBM’s rent is 54% below market. See page 8 for rent comparables.

Direct Access to Interstate 4 (129K VPD) The subject property is less than 1 mile from a point of ingress and egress to Interstate 4 (129,000 VPD). I-4 spans 132 miles and runs through Central FL, connecting the West Coast to the East Coast.

Foundation Building Materials FBM is one of the largest specialty building products distributors of wallboard, suspended ceiling systems, and metal framing in North America. With full transparency of a publicly traded company, FBM’s mission is to serve the changing needs of the professional construction trades.

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2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

LEASE SUMMARY Lease Type

Type of Ownership Original Lease Term

Triple-Net (NNN) Fee Simple

Real Estate Taxes

Tenant Responsible

Insurance

Tenant Responsible

3 Years

Roof & Structure

Landlord Responsible

Commencement Date

05/01/2010

Lease Guarantor

Corporate

Lease Expiration

05/01/2022

Company Name

Foundation Building Materials

Term Remaining

1.5+ Years

Increases Options

CPI-U* One (1), 3-Year

* Average annual increase of CPI-U of previous 3 years, every 3 years.

Ownership

Public (NYSE: FBM)

Number of Locations Right to Terminate

180 Yes**

** Tenant shall have the right to terminate this Lease at any time during the term by deliv-

ering written notice to Landlord setting forth a termination date which shall be not less than twelve (12) months after the date of delivery of the notice.

Corporate Guarantee from Publicly Traded Company Foundation Building Materials (NYSE: FBM) was founded in 2011 and went public in 2017. Today, they currently operate 180 units in North America and Canada.

Long-Term Commitment to the Site FBM executed their lease in 2010 in the heart of the recession. Since then, they have exercised 3 options showing commitment to the location.

FBM is Well Positioned for Long Term Growth Over the past 9 years, FBM has strategically acquired 10 independent companies throughout North America.

The opportunity to supplement with organic growth and strategic acquisitions makes them well positioned as a company for long term success.

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2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

BUILDING FEATURES

Number of Buildings

Two

Acres

±2.6

Minimum Clearance Height Parking

26’ Ample

Main Warehouse Doors

2 Ground Level

Side Warehouse Doors

4 Ground Level

Yard

Large & Secure

Slab

16”

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2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

RENT SCHEDULE Period

Term

Annual Rent

Monthly Rent

Increase

CAP Rate

05/01/2019 - 05/01/2022

3rd Option

$92,100

$7,675

-

4.61%

05/01/2022 - 05/01/2025

4th Option

-

-

CPI

-

07

2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

RENT COMPARABLES

2121 FL-472, DELAND, FL 32724

NOI (Lease Rate)

$3.96 / SF GLA

23,204 SF

Lease Expiration

05/01/2022

Options

One (1), 3-Year

Lease Type

Triple-Net (NNN)

CAM

-

Escalations

CPI-U

TENANT

ADDRESS

GLA

COMMENCEMENT

LEASE

TERM IN

LEASE

EXPIRATION

RATE

LEASE

LEASE

TYPE

CAM

Boss Laser

901 S. Charles Richard Beal Blvd, Deland, FL

24,000 SF

06/01/2020

-

-

$8.50

Triple-Net (NNN)

$1.65 -

MONTHS

ION

381 Evangeline Way, Deland, FL

10,600 SF

06/01/2020

60

6/1/2025

$9.50

Triple-Net (NNN)

N/A

3866 Caboose Pl, Deland, FL

12,500 SF

03/01/2020

-

-

$8.75

Triple-Net (NNN)

-

19,670 SF

04/01/2020

$7.35

Triple-Net (NNN)

$1.39

American Battery AVERAGE

08

4200 Church St, Deland, FL

16,693 SF

60

-

$8.53

2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

RETAIL AERIAL

09

2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

SITE PLAN

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2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

ABOUT THE BRAND

Foundation Building Materials Foundation Building Materials (FBM®) is a leading construction materials distributor focused on exceeding the expectations of the commercial construction and residential building trades. The Company fabricates and distributes its products for specialty contractors seeking to improve or maintain energy efficiency in a range of commercial and industrial buildings.

180

NYSE: FBM

$2.2 Billion

30 States + Canada

NUMBER OF LOCATIONS

$

TRADE NAME

ANNUAL REVENUE

GEOGRAPHICAL FOOTPRINT

FBM specializes in the local supply of building materials such as drywall, steel studs, lath, plaster, stucco, acoustical ceilings, insulation, fiberglass reinforced plastic (FRP), and exterior insulation finish systems (EIFS).

Additionally, FBM offers a wide variety of commercial-grade construction tools, drywall hand tools, fasteners, and construction supplies for residential and commercial projects. Each Foundation Building Materials (FBM) location is uniquely focused on the individual building materials needs within its regional market. With over 180 locations across the United States and Canada, FBM has significant geographic reach into most major building materials markets.

2019 Full-Year Highlights • • • •

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Net sales of $2.2 billion, an increase of $110.2 million compared to the prior year period.

Base business net sales of $1.9 billion, an increase of 2.5% compared to the prior year period.

Adjusted net income of $47.6 million, an increase of $30.0 million, compared to the prior year period.

Completed three acquisitions and opened San Antonio greenfield branch.

2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

LOCATION OVERVIEW DeLand, FL

The city sits approximately 34 miles north of the central business district of Orlando, and approximately 23 miles west of the central business district of Daytona Beach. It is a part of the Deltona– Daytona Beach–Ormond Beach metropolitan area.

Explosive Population Growth From 2010 – 2018, the population within one mile of the subject property increased by 41%. The population within one mile is expected to grow by an additional 11% between 2018 – 2023.

Home of Stetson University Founded in 1883, Stetson University is Florida’s oldest college. Stetson has 43,000 alumni, 4,429 enrolled students, and 195 full-time faculty teaching undergraduate courses.

Deltona, FL Approximately 5 miles south of DeLand, Fl is Deltona, FL, the most populous city in Volusia County. It is located on the northern shore of Lake Monroe along the St. Johns River in central Florida. The city is part of the Deltona–Daytona Beach–Ormond Beach, FL Metropolitan Statistical Area, which is grouped with the larger Orlando-Lakeland-Deltona, Florida Combined Statistical Area. As of 2019, the city had a population of 92,757.

Strategically situated amidst some of the state’s most popular attractions, Deltona is the perfect place to hang your hat while experiencing all that Florida has to offer.

Lake Monroe Lake Monroe is one of the lakes that make up the St. Johns River system. The port city of Sanford is situated along the southern shore, while DeBary and Deltona are located along the northern shore. It forms the border of Seminole County and Volusia County It is the 8th largest lake in the Orlando metropolitan area.

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2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

LOCATION OVERvIEW 1.

Blue Spring State Park 2100 W. French Ave, Orange City, FL 32763 6.4 MILES FROM SUBJECT PROPERTY

2. Central Florida Zoo & Botanical Gardens 3755 W. Seminole Blvd, Sanford, FL 32771 11.2 MILES FROM SUBJECT PROPERTY

3. Lake Monroe Lake Monroe, Florida 32725 12.2 MILES FROM SUBJECT PROPERTY

4. Orange City Racing and Card Club 822-4 Saxon Blvd, Orange City, FL 32763 5.4 MILES FROM SUBJECT PROPERTY

5. Green Springs Park 994 Enterprise Osteen Rd, Deltona, FL 32725 9.5 MILES FROM SUBJECT PROPERTY

6. Hontoon Island Adventures 2309 River Ridge Rd, DeLand, FL 32720 11.7 MILES FROM SUBJECT PROPERTY

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2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

LOCATION OVERvIEW

01 BLUE SPRING STATE PARK

Popular tourist destination for canoeing, scuba diving & more.

02 CENTRAL FLORIDA ZOO & BOTANICAL GARDENS

116-acre zoo and botanical garden with over 400 different animals.

04 ORANGE CITY RACING AND CARD CLUB

operating casino destinations with slots, card & racetrack games.

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03 LAKE MONROE

Lake Monroeis one of the lakes that make up the St. Johns River system.

05 GREEN SPRINGS PARK

The spring was once part of a 19thcentury health resort.

06 HONTOON ISLAND ADVENTURES

1,648-acre park only accessible by boat or park-operated ferry.

2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

DEMOGRAPHICS

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POPULATION

1-Mile

3-Mile

5-Mile

2025 Projection

1,071

36,789

110,837

2020 Estimate

964

33,886

102,533

2010 Census

682

28,970

90,390

Growth ‘20 - ‘25

11.1%

8.57%

8.10%

Growth ‘10 - ‘20

41.35%

16.97%

13.43%

HOUSEHOLDS

1-Mile

3-Mile

5-Mile

2025 Projection

464

14,998

43,374

2020 Estimate

419

13,823

40,122

2010 Census

303

11,840

35,280

Growth ‘20 - ‘25

10.74%

8.50%

8.11%

Growth ‘10 - ‘20

38.28%

16.75%

13.72%

Average Income

$83,340

$72,793

$65,601

Median Income

$65,892

$59,701

$52,022

2121 FL-472, DELAND, FL 32724

FOUNDATION BUILDING MATERIALS

DISCLAIMER

The information contained in this Marketing Brochure has been obtained from sources believed to be reliable, but the accuracy or completeness of the information contained therein cannot be guaranteed. James Capital Advisors, Inc. & Brian Brockman (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees, or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. Therefore, Broker assumes no legal responsibility for accuracy or completeness of this information, and expressly disclaims all representations, guarantees, or warranties related thereto.

The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction, and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants.

A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or comparable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease or may default under the terms of such lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property.

Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long-term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.

CONFIDENTIALITY This Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.

RELEASE This Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. or Broker be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.

NON-ENDORSEMENT Broker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.

16

www.jamescapitaladvisors.com

@jamescapitaladvisors

FOUNDATION BUILDING MATERIALS

CONTACT INFORMATION CONTACT

CORY KRUPINSKY

Associate (818) 620-3989 cory.krupinsky@jamescapitaladvisors.com CA RE Lic. 02086327

RICHARD BREHAUT

Director (909) 560-3010 richard@jamescapitaladvisors.com CA RE Lic. 01934760 BROKER OF RECORD

Brian Brockman

Bang Realty - Naples, Inc (513) 898-1551 brian@bangrealty.com FL RE Lic #: BK3327646 CORP. Lic #: CQ1049201

James Capital Advisors, Inc.

www.jamescapitaladvisors.com

@jamescapitaladvisors