Foundation Building Materials | Sarasota, FL

FOUNDATION BUILDING MATERIALS

1688 GLOBAL CT, SARASOTA, FL 34240

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

1688 GLOBAL CT, SARASOTA, FL 34240

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

1688 GLOBAL CT, SARASOTA, FL 34240

FOUNDATION BUILDING MATERIALS

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

Foundation Building Materials 1688 Global Ct Sarasota FL 34240 41,400 SF

$

$4,000,000 LIST PRICE

% 3.71% CAP RATE $

$148,440

NET OPERATING INCOME

6.59 AC

Price / SF

$96.62

2004

Rent / SF

$3.59*

* Rent is 51% below market, see page 8 for rent comparables

Short-Term Lease with Below Market Rents - Foundation Building Materials current term expires in 2023 with two (2), 3-year options. At $3.59/SF, FBM’s rent is 51% below market. See page 8 for rent comparables.

Close Proximity to Interstate 75 (135K VPD) - The subject property benefits from its close proximity to a point of ingress and egress to Interstate 75 (137,500 VPD). I-75 is a major cross-country, north–south route, one of the longest in the U.S., from southern Florida to the northeastern point of Michigan.

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.

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.

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1688 GLOBAL CT, SARASOTA, FL 34240

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

5 Years

Roof & Structure

Landlord Responsible

Commencement Date

07/01/2012

Lease Guarantor

Corporate

Lease Expiration

07/01/2023

Company Name

Foundation Building Materials

Term Remaining

2.5+ Years

Increases Options

CPI* Two (2), 3-Year

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

Ownership Number of Locations Right to Terminate

Public (NYSE: FBM) 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.

Long-Term Commitment to the Site - FBM executed their lease in 2012. Since then, they have exercised 2 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.

Close to the Florida International Trade Port - Benderson Development Company has completed phase 1 of their 2 million square foot warehouse and light industrial park. Located at I-75 and U.S. 301, about 19 miles from the subject property, the future development will include nearly one mile of direct frontage on I-75, 200 truck courts, and a campus-like setting with attractive landscape.

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1688 GLOBAL CT, SARASOTA, FL 34240

FOUNDATION BUILDING MATERIALS

BUILDING FEATURES

Number of Buildings Acres Minimum Clearance Height Parking

Two ±6.59 26’ 24 Surface Spaces

Main Warehouse Doors

6 Ground Level

Side Warehouse Doors

1 Ground Level

Yard

Large & Secure

Amp

800

Volts

208 / 120

Slab

16”

06

1688 GLOBAL CT, SARASOTA, FL 34240

FOUNDATION BUILDING MATERIALS

RENT SCHEDULE Period

Term

Annual Rent

Monthly Rent

Increase

CAP Rate

07/01/2012 - 07/01/2023

2nd Option

$148,440

$12,370

-

3.71%

07/01/2023 - 07/01/2026

3rd Option

-

-

CPI

-

07/01/2026 - 07/01/2029

4th Option

-

-

CPI

-

07

1688 GLOBAL CT, SARASOTA, FL 34240

FOUNDATION BUILDING MATERIALS

RENT COMPARABLES

2121 FL-472, DELAND, FL 32724

NOI (Lease Rate)

$3.59 / SF GLA Lease Expiration Options

41,400 SF 07/01/2023 Two (2), 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

Panga Marine Corp

1520 Northgate Blvd, Sarasota, FL

32,102 SF

01/01/2019

48

1/1/2024

$5.00

Triple-Net (NNN)

$0.84 $0.73

MONTHS

Outddor By Design

2383 Industrial Blvd, Sarasota, FL

36,170 SF

09/01/2018

-

-

$6.50

MG

McClain’s

2269 Porter Lake Dr, Sarasota, FL

12,210 SF

10/01/2018

60

10/1/202

$9.44

-

-

$8.15

MG

-

Tropitone Furniture Co AVERAGE

08

1130 Commerce Blvd, Sarasota, FL

36,750 SF 29,308 SF

05/01/2019

54

-

$7.27

1688 GLOBAL CT, SARASOTA, FL 34240

FOUNDATION BUILDING MATERIALS

RETAIL AERIAL

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1688 GLOBAL CT, SARASOTA, FL 34240

FOUNDATION BUILDING MATERIALS

SITE PLAN

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1688 GLOBAL CT, SARASOTA, FL 34240

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.

1688 GLOBAL CT, SARASOTA, FL 34240

FOUNDATION BUILDING MATERIALS

LOCATION OVERVIEW Sarasota, FL

Sarasota is a city in Sarasota County on the southwestern coast of the U.S. state of Florida. The area is renowned for its cultural and environmental amenities, beaches, resorts, and the Sarasota School of Architecture. The city is at the southern end of the Tampa Bay Area, north of Fort Myers and Punta Gorda. Its official limits include Sarasota Bay and several barrier islands between the bay and the Gulf of Mexico. According to the U.S. Census Bureau, in 2019 Sarasota had a population of 58,285.

Sarasota, une of Florida’s primary Gulf Coast cities, offers visitors an eclectic blend of culture and fine dining, circus thrills and pristine beaches, and a wide array of shopping opportunities. Warm temperatures year-round, award-winning beaches and a thriving arts and cultural scene have made Sarasota a go-to place for retirees and families, not to mention a handful of celebrities. This southwest Florida region, which is about an hour from Tampa and two hours from Orlando, continues to attract new residents with great restaurants and plenty of shopping options.

High Employment Growth - During the past decade, consistently high employment growth had been the key factor in driving Sarasota’s economic success with 30 consecutive quarters of growth above the national average.

Tourism Brings in 2.7 Million Visitors - Tourism has been one of the biggest drivers of Sarasota’s economy, the primary attraction being the beaches which are among the highest-rated in the world. Sarasota has established new annual records for tourism with the most recent fiscal year reaping over 2.7 million visitors.

Up and Coming Sports - Sarasota recently hosted the World Sailing Annual Conference, drawing over 40,000 spectators to the World Rowing Championship, and the Atlanta Braves hosted their abbreviated first full Spring Training season in 2020 following their relocation to North Port.

Close to Sarasota-Bradenton International Airport - Less than 14 miles away from the subject property, Sarasota-Bradenton International Airport (SRQ) saw almost 2 million people in 2019.

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1688 GLOBAL CT, SARASOTA, FL 34240

FOUNDATION BUILDING MATERIALS

LOCATION OVERvIEW 1.

John & Mable Ringling Museum of Art 5401 Bay Shore Rd, Sarasota, FL 34243 13.1 MILES FROM SUBJECT PROPERTY

2. Siesta Key Beach Sieta Key Beach, Siesta Beach, Florida 34242 16.1 MILES FROM SUBJECT PROPERTY

3. Mote Marine Laboratory & Aquarium 1600 Ken Thompson Pkwy, Sarasota, FL 34236 14.5 MILES FROM SUBJECT PROPERTY

4. Marie Selby Botanical Gardens 1534 Mound St, Sarasota, FL 34236 10.4 MILES FROM SUBJECT PROPERTY

5. Sarasota Jungle Gardens 3701 Bay Shore Rd, Sarasota, FL 34234 12.1 MILES FROM SUBJECT PROPERTY

6. Lido Key Beach 400 Benjamin Franklin Dr, Sarasota, FL 34236 13.8 MILES FROM SUBJECT PROPERTY

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1688 GLOBAL CT, SARASOTA, FL 34240

FOUNDATION BUILDING MATERIALS

LOCATION OVERvIEW

01 JOHN & MABLE RINGLING MUSEUM OF ART

the institution offers twenty-one galleries of European paintings.

02 SIESTA KEY BEACH

Siesta Beach’s sand is 99% quartz, from the Appalachian Mountains.

04 MARIE SELBY BOTANICAL GARDENS

The Marie Selby Botanical Gardens is a 15-acre botanical garden.

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03 MOTE MARINE LABORATORY & AQUARIUM

independent, nonprofit & marine research organizatio in Sarasota.

05 SARASOTA JUNGLE GARDENS

The gardens contain over 10 acres of botanical plantings & animals.

06 LIDO KEY BEACH

Sandy beach featuring a concession stand, gift shop & picnic tables.

1688 GLOBAL CT, SARASOTA, FL 34240

FOUNDATION BUILDING MATERIALS

DEMOGRAPHICS

POPULATION

3-Mile

5-Mile

10-Mile

2025 Projection

9,097

64,336

326,524

2020 Estimate

8,566

59,841

301,341

2010 Census

8,434

55,737

264,900

Growth ‘20 - ‘25

6.20%

7.51%

8.36%

Growth ‘10 - ‘20

1.57%

7.36%

13.76%

3-Mile

5-Mile

10-Mile

2025 Projection

3,570

26,361

141,500

2020 Estimate

3,372

24,675

131,177

2010 Census

3,357

23,598

117,041

Growth ‘20 - ‘25

5.87%

6.83%

7.87%

Growth ‘10 - ‘20

0.45%

4.56%

12.08%

Average Income

$121,578

$110,652

$90,904

Median Income

$93,477

$85,335

$68,028

HOUSEHOLDS

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1688 GLOBAL CT, SARASOTA, FL 34240

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.

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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