RFP REDEVELOPMENT OF DOWNTOWN TEMPLE TERRACE AREA. SunCoast Retail Developers, Inc. 255 Capri Circle N., Suite 35

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1 RFP REDEVELOPMENT OF DOWNTOWN TEMPLE TERRACE AREA By SunCoast Retail Developers, Inc. 255 Capri Circle N., Suite 35 Treasure Island, Florida Attention: David Owen, President (727)

2 TABLE OF CONTENTS I. Executive Summary II. Qualifications, Experience, and Declarations III. Proposed Development Team IV. Proposed Development Plan V. Detailed Financial Plan VI. Project Management Plan VII. Development Timeframe VIII. Purchase Price and Tax Revenue

3 I. EXECUTIVE SUMMARY SunCoast Retail Developers, Inc. intends to acquire the approximate.75 acre hard corner situated at the southeast corner of the intersection of E. Busch Blvd/Bullard Pkwy & N. 56 th Temple Terrace and to develop the same with an approximate 3,500 square foot retail branch bank with drive-thrus and to lease the same on a long term basis (15-20 year initial term) to a national bank. Said national bank has requested to remain anonymous at this time, but is ranked as one of the top 5 banks in the United States in terms of both number of branches and assets. SunCoast has a working relationship with said bank and said bank requested SunCoast to submit this RFP for the purpose of developing the branch bank in this location. SunCoast and its principal, David Owen, have ample experience with developments such as this, as well as the available funding to complete the intended project as more particularly outlined below.

4 II. QUALIFICATIONS, EXPERIENCE, and DECLARATIONS David Owen, the principal and President of SunCoast Retail Developers, Inc., has developed a career working in Florida s commercial real estate arena. In 1990, David Owen graduated Magna Cum Laude with a B.B.A in Finance from the University of Mississippi, promptly moved to Orlando, Florida and began his real estate career as a commercial real estate broker. Five years later, Owen entered law school at the University of Florida College of Law, where he petitioned the administration to offer more real estate related law courses and actually enlisted two attorneys to teach upper level real estate law courses at the school. Owen also formed and presided as President over the Real Estate Law Club at the law school. Upon graduating with honors in 1998, Owen joined Lowndes, Drosdick, Doster, Kantor & Reed, P.A. in Orlando, Florida as a licensed attorney. Lowndes Drosdick is the premier and largest real estate law firm in Orlando. Owen practiced real estate law with Lowndes Drosdick for five years before joining The Sembler Company in St. Petersburg, Florida as in-house counsel. Within months after joining The Sembler Company, Owen was named Real Estate Manager for the company s Single Tenant Build-to-Suit Program. Owen ran Sembler s build-to-suit program for ten years before leaving to form SunCoast Retail Developers, Inc. While at Sembler, Owen completed over 60 retail build-to-suit projects for such retailers as Walgreens, CVS, Wawa, RBC Centura Bank, and others. Since forming SunCoast Retail Developers, Inc., Owen has continued to develop quality single tenant and shadow box multi-tenant retail centers primarily in the Tampa Bay market. Owen maintains a Florida Real Estate Broker s license as well as a Florida license to practice law. A copy of Owen s Tombstones is attached. This list of Tombstones speaks for David Owen s unique abilities and experience that qualify SunCoast Retail Developers, Inc. to develop the requested SunTrust Bank Branch in Temple Terrace.

5 DAVID OWEN TOMBSTONES OF PROJECTS COMPLETED AND UNDER DEVELOPMENT May, 2017 Retailer Project Location Completed Size 1.) Rowan New Port Richey, FL July 24, ,824 2.) Brandon, MS Brandon, MS August 21, ,813 3.) 38th & 49th St. Petersburg, FL September 11, ,824 4.) Park Slope Brooklyn, NY October 4, ,363 5.) Bonita Springs Bonita Springs, FL October 30, ,824 6.) Ocala I Ocala, FL November 14, ,813 7.) University Village St. Petersburg, FL November 20, ,813 8.) Cottage Hill Mobile, AL November 26, ,813 9.) Ocala II Ocala, FL November 28, , ) Homosassa Homosassa, FL November 28, , ) 9th & 9th St. Petersburg, FL November 28, , ) Moffett/McCrary Mobile, AL December 5, , ) Old Government Mobile, AL December 11, , ) Southern Trace Lady Lake, FL January 22, , ) Clayton Plaza Brandon, FL January 22, , ) Foley Foley, AL February 26, , ) Narcoossee Narcoossee, FL March 4, , ) Oviedo Oviedo, FL March 19, , ) Keystone Keystone Heights, FL April 29, , ) Daphne Daphne, AL May 7, , ) Altamonte Springs Altamonte Springs, FL October 12, , ) Robertsdale Robertsdale, FL November 21, , ) Hunters Creek Orlando, FL December 23, , ) Delray Beach Delray Beach, FL February 2, , ) Madison Madison, MS February 20, , ) Flowood Flowood, MS February 20, , ) Glenbrook Clermont, FL March 6, , ) Lakewood Ranch Bradenton, FL May 1, , ) Conroy/Windemere Orlando, FL June 13, ,200

6 29.) Cottage/Azalea Mobile, AL October 23, , ) Weston Weston, FL December 29, , ) Chester Chester, NY February 5, , ) Lake Mary Lake Mary, FL March 8, , ) Mt. Pleasant Mt. Pleasant, SC May 17, , ) Natchez Natchez, MS August 10, , ) Davis & Olive Pensacola, FL August 23, , ) Lakewood Ranch Lakewood Ranch, FL September 29, , ) Miramar Miramar, FL November 3, , ) Heathrow Heathrow, FL January 5, , ) McMullen Booth Clearwater, FL January 12, , ) Boynton Beach Boynton Beach, FL May 31, , ) Pine Forest Pensacola, FL March 7, , ) Beverly Parkway Pensacola, FL June 29, , ) Pembroke Pines Pembroke Pines, FL January 24, , ) Fairfield Pensacola, FL April 7, , ) Spring Hill Spring Hill, FL April 11, , ) Provident Bank Stony Point Stony Point, NY July 14, , ) Senatobia Senatobia, MS October 23, , ) Stony Point Stony Point, NY November 11, , ) Meridian Meridian, MS January 16, ) Amory Amory, MS June 12, , ) Oldsmar Oldsmar, FL June 11, , ) Brooks Village Naples, FL June 30, , ) Baymeadows Jacksonville, FL October 9, , ) Key Balmville Balmville, NY September 21, , ) Cypress Creek Cypress Creek, FL January 25, , ) Balmville Balmville, NY February 8, , ) Amite Amite, LA September 27, , ) Youngsville Youngsville, LA October 11, , ) Dale Mabry Tampa, FL October 25, , ) Columbia Columbia, MS June 3, , ) University Plaza Tampa, FL November 8, , ) Advance Auto Fletcher & Ola Tampa, FL April 30, , ) McDonalds Roosevelt & Dodge Largo, FL August 10, , ) Bloomingdale & 301 Riverview, FL June 10, , ) Ulmerton & Walsingham Largo, FL April 24, ,636

7 66.) Polk Parkway Lakeland, FL October 8, , ) King & Calhoun Charleston, SC July 2, , ) 66th St. 66th 16th Ave St. Petersburg, FL May, , ) Curry Ford & Young Pine Orlando, FL August, , ) Taco R 64 & Heritage Green Way Bradenton, FL April, , ) Van Dyke Dale Mabry & Van Dyke Lutz, FL May, , ) Arland Car Cortez & Sunshine Spring Hill, FL July, , ) Arland Car US 19 & Jasmine Lks Pasco, FL November, , ) Ulmerton & 66th St Largo, FL December, , ) Ulmerton & 66th St Largo, FL December, , ) Arland Car Lee & Westgate Ft. Myers, FL January, , ) Tire Bearss & Nebraska Tampa, FL January, , ) Arland Car Bloomingdale & Watson Brandon, FL May, ,161 TOTAL S.F. OF PROJECTS DEVELOPED 870,629 * Projects in Bold are under development

8 III. PROPOSED DEVELOPMENT TEAM The Development Team shall consist of the following: A. Developer/Owner SunCoast Retail Developers, Inc. (David Owen) SunCoast Retail Developers, Inc., or a single purpose entity to be formed by David Owen, will be the sole owner of the project. Owen will own 100% of the entity that owns this project. Owen/SunCoast Retail has adequate capital and available lines of credit to acquire and complete the proposed project. SunCoast Retail has adequate capacity to oversee and timely complete this project. This project will not impact, nor be impacted by, any other projects that SunCoast Retail Developers is working, either from a management or financial viewpoint. B. Civil Engineer Kinney Engineering (Jason Kinney) Kinney Engineering is a full-service civil engineering firm based in St. Petersburg, Florida, specializing in land development and construction for commercial and municipal projects. Jason Kinney, the President and lead engineer at the firm, will be personally handling this project. Kinney is a graduate of the University of South Florida s Civil Engineering program. Kinney is a licensed commercial site engineer with over 15 years experience, including working with commercial banks, fast food restaurants, single and multi-tenant retail shopping centers and commercial buildings, apartment complexes, office buildings and municipal buildings. C. Architect Gensler & Associates (Bert Oliva) Gensler is a global architecture, design and planning firm with 44 locations and more than 5,000 professionals networked across Asia, Europe, Australia, the Middle East and the Americas. Founded in 1965, the firm serves more than 3,500 active clients in virtually every industry. Gensler designers strive to make the places people live, work and play more inspiring, more resilient and more impactful. Bert Oliva manages Gensler s Tampa offices and will be directly involved in this project. Gensler & Associates recent accolades: ENR 2016 Top 150 Global Design Firms, #1 Architecture Firm Glassdoor Best Places to Work 2017 Business Insider ranks Gensler #25 on Top 100 Creators list Architectural Record 2016 Top 300, #1 Architecture Firm Building Design 2016 World Architecture 100, #1 Most Admired U.S. Firm, #5 Most Admired Global Firm

9 Forbes America s Best Midsize Employers list 2016 Building Design + Construction 2016 Giants 300, #1 Architecture Firm For the 35th consecutive year, Gensler tops Interior Design magazine s Top 100 Giants list

10 IV. PROPOSED DEVELOPMENT PLAN The Proposed Development Plan is to develop the.75 acre hard corner of Parcel A located at the southeast corner of the intersection of E. Busch Blvd/Bullard Pkwy & N. 56 th Street with an approximate 3,500 square foot retail branch bank with three drive-thrus and a drive up ATM, along with 28 parking spaces, 20% green space and off-site storm water retention, as more particularly shown on the site plan below. Although the proposed tenant is one of the top five banks based on number of branches and assets in the United States that utilizes prototypical building plans for its retail branch banks, we remain open to minor modifications and architectural features to provide compatibility with the other developments in the area. The intended parcel is zoned Commercial General (C-G) under the City of Temple Terrace Land Development Code. Bank or financial institution is a permitted use under this zoning category. The proposed development will be a single phase. The Developer has obtained a commitment from its intended tenant to lease the completed project to the intended tenant at market rates. Both the Developer and intended tenant are committed to this location. There are no foreseeable factors that would be considered contingencies to the project other than obtaining the typical site and building permits and approvals from the applicable governing authority. The proposed site plan is on the next page. It is subject to review and approval by both the City and the proposed tenant.

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12 V. DETAILED FINANCIAL PLAN SunCoast Retail Developers, Inc Profit & Loss Statement January 1, December 31, 2016 INCOME Brokerage Fees $63,340 Development Fees $194,463 Sale of Completed Projects $502,898 Partnership Income $(1,344) Other $278 TOTAL INCOME $759,634 EXPENSES Brokerage/Consulting Fees Paid $34,950 Fees/Memberships $3,809 Bank Fees $95 Supplies $12,708 Subscriptions/Computer Programs $425 Internet/Data Services $900 Mail/Postage/Shipping $379 Insurance $1,266 Travel $16,443 Telephone $2,658 Business Meetings $5,710 Legal & Accounting $14,958 Corporate Gifts/Annual Party $1,787 Charitable Donations $550 Office Expense $2,604 Dead Deal Costs $32,059

13 TOTAL EXPENSES $131,300 NET PROFIT $628,334 SUNCOAST RETAIL DEVELOPERS, INC BALANCE SHEET DECEMBER ASSETS Cash $436,223 Marketable Securities $- F/F/E $8,000 Deposits on Land Contracts $74,500 Market Value of Profits on Projects $1,828,250 TOTAL ASSETS $2,346,973 LIABILITIES Notes Payable - Secured $- Notes Payable - Unsecured $- Accounts Payable to others $- Real Estate Mortgages $- Other Debts $- TOTAL LIABILITLES $- NET WORTH $2,346,973

14 SunCoast Retail Developers, Inc. maintains a commercial line of credit with Texas Exchange Bank in the amount of $4,000, for the acquisition and development of NNN retail projects, such as the subject project. Under this line of credit, Texas Exchange Bank lends 100% of the acquisition and development costs of retail projects selected by Owen. Approximately $2,100, of this line of credit is currently available to fund additional projects. In 2016, David Owen formed a single purpose entity, SunCoast TB SR 64, Inc., to acquire land and develop a Taco Bell restaurant on SR 64 in the Lakewood Ranch area of Manatee County. SunCoast TB SR 64, Inc. utilized approximately $1,900, of the available line of credit from Texas Exchange Bank to fund this project. The completed Taco Bell restaurant is currently listed for sale. Owen recently signed a letter of intent to sell the project to an investor within the next 60 days, which will free up the entire $4,000,000 line of credit for this and other projects. Contact information for Texas Exchange Bank is as follows: Lloyd Whatley Executive Vice President Texas Exchange Bank State Highway 249, Suite 200 Houston, TX Phone: (281) lwhatley@txexbank.com

15 VI. PROJECT MANAGEMENT PLAN David Owen and SunCoast Retail Developers, Inc. will manage the development and construction of the proposed retail branch bank. SunCoast will utilized the services of the aforementioned engineering company and architectural company to assist in managing this project. As required by the tenant of the project, SunCoast will bid the construction of the project to at least three (3) local general contractors who have been previously approved by the tenant and have experience in building branch banks for the tenant. The intended retail branch bank is intended to operate as a stand alone commercial property. The tenant will be responsible for all taxes, insurance and maintenance of the building and grounds. As such, upon the completion of construction, the tenant shall maintain all aspects of the property.

16 VII. DEVELOPMENT TIMEFRAME Due Diligence (Title, Survey, Geotech, Environmental Reports) Lease Negotiation Design (Civil, Building, etc.) Site Plan Approval Building Plan Approval Closing Construction Tenant Fixturing, etc. TOTAL DEVELOPMENT TIMEFRAME TOTAL TIMEFRAME TO LAND CLOSING 60 days 60 days 60 days 120 days 60 days 30 days 150 days 30 days 540 days 390 days

17 VIII. PURCHASE PRICE and TAX REVENUE The Developer hereby offers the sum of $1,290,000 for the approximate.75 acre parcel identified above.