Arnaldo Cantero III Of C-3 Commercial Real Estate Advisory Represents Landlord In Tim Hortons Ground Lease In Venice Florida

The property asset involved in the transaction is located at 430 US 41 By-Pass, Venice, FL, within the Sarasota MSA. This retail asset encompasses a square footage of 32,757 square feet and is categorized as a ground lease. The asking rent for the property is set at $5 per square foot. The lease term spans 20 years, with options for extension.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Approximately $140,000 in annual ground rent
• Lease Term: 20 Years, plus options
• Lease Type: Ground Lease
• Landlord: Jorge Busher
• Tenant: Tim Hortons (Restaurant Brands International)
• Landlord's Representative: Arnaldo Cantero III - C-3 Commercial Real Estate Advisory
• Annual Rent Increases: 10% every five years
• Total Contractual Base Rent Over Initial Term: More than $3.25 million

Arnaldo Cantero III, the Founder and Managing Principal of C-3 Commercial Real Estate Advisory, represented the landlord during this transaction. C-3 was engaged to reposition the property and successfully negotiated a long-term ground lease with Tim Hortons, which plans to redevelop the site into a new Tim Hortons Café, taking on the majority of redevelopment costs.