OneWater Marine: Mary Esther, FL (Fort Walton Beach MSA)

NEW 15-YEAR ABSOLUTE NNN LEASE
The subject property operates under an Absolute NNN Lease, with 15-years remaining and no landlord management or maintenance responsibilities whatsoever.

CORPORATELY GUARANTEED LEASE
The Corporate Lease provides scheduled rent increases of 10% every 5 years during the primary term and at each of the four, 5-year renewal option periods and is Corporately guaranteed by OneWater Marine Holdings, LLC, who recently filed for an Initial Public Offering as OneWater Marine Inc. The company would list its shares on the Nasdaq under a yet-to-be disclosed symbol.(1)

STRONG VISIBILITY AND HIGH TRAFFIC COUNTS
The subject property has a 12-year operating history at this location and is strategically positioned on HWY 98 (41,471 ADT) in Mary Esther, home to the largest military installation in the Department of Defense - Eglin Air Force Base, the focal point for all Air Force armaments. Covering 463,128 acres and employing more than 8,500 civilians and approximately 4,500 military, Eglin AFB is the test and evaluation center for Air Force air-delivered weapons, navigation and guidance systems, Command and Control systems and Air Force Special Operations Command systems. The annual economic impact of the military presence in the region is over $22 Billion and 72,000 jobs. The premier marine dealer and servicer is located near McDonald’s, Dollar General, Arby’s, Target, CVS, Firestone Complete Auto Care, Waffle House, Tom Thumb Grocers, Subway, Burger King, Hurlburt Field Auxiliary Field (6,700 acres, 8,000 military personnel), and many regional retailers. There are strong demographics in Mary Esther, FL with average household incomes of $78,740 within a 3-mile radius.

ONEWATER MARINE INC. HIGHLIGHTS(1)

• Generated revenue of $602.8 million in Fiscal Year 2018, a 54% year-over-year increase from $391.5 million in Fiscal Year 2017
  •Consolidated same-store sales growth increased 22% in Fiscal Year 2018
  •Recognized as “Dealer of the Year” by Boating Industry in 2016 and 2017, inducted into the Boating Industry “Top 100 Hall of Fame” in 2018
  •One of the largest and fastest-growing premium recreational boat retailers in the U.S., 60 stores comprised of 20 dealer groups in 11 states
  •Operating Stores increased to 53 locations, up 18% over the prior year
  •Consumer spending on boats, engines, services, parts, accessories and related purchases reached $39 billion in 2017 and 81% of the one million powerboats sold in the United States each year are pre-owned

(1) The Lease guarantors are OneWater Marine Holdings, LLC and OneWater Assets & Operations, LLC, the sole managing members of OneWater Marine Inc. Source: OneWater Marine Inc. Form S-1, as filed with the Securities and Exchange Commission on July 12, 2019.

FL Broker of Record: Ryan Nee
License: BK3154667