Executive Summary - LoopNet · Next door is a bridal suite where the bridal party can stage their...

12915 W Dodge RdOmaha, NE 68154+1 402 255 6060nainpdodge.com

NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.

The Plaza at Cherry Hills6910-7116 N 102nd Circle | Omaha, NE 68122

Nicholas Z. SmithAssociate+1 402 255 [email protected]

Spencer MorrisseyAssociate+1 402 255 [email protected]

Grant PalmerVice President+1 402 990 [email protected]

02Executive Summary | Property Analysis | Location | Tenant Profile | Omaha | Demographics | NDA

Executive SummaryNAI NP Dodge is offering for sale The Plaza at Cherry Hills located at 7002 N 102nd Circle Omaha, Nebraska for $6,300,000.00 ($137.09 per square foot). Built in 2005, the 45,955 square foot shopping center is 100% leased and has a CAP rate of 7.20%. The site is comprised of 5.23 acres (227,636 square feet) and benefits from a growing area of Omaha near Blair High Road (34,849 vehicles per day) and Interstate 680 (46,445 vehicles per day).

The Plaza at Cherry Hills major tenants include The Soiree Room, Legend’s Bar & Grill, Villagio Pizzeria, Backstage Dance and EMS Billing Services. The center has a great mix of restaurants, offices, service businesses and an event center. The vacant 7,376 square feet will be leased for three years and personally guaranteed and backed by RD Indus-tries, Inc.

Property

Analysis


Property Analysis

Location


Tenant Profile

Korth Pain & Sports Rehabilitation


Korth Pain & Sports RehabilitationDr. Korth started his practice in 2011. He studied at Palmer College of Chiropractic and began his career as an intern for Palmer Rehabilitation Facility. Dr. Korth spent his time in the clinic and in the field searching for ways to remove aches and pains associated with sports and daily life. He uses Selective Functional Movement Assessment, Active Release Techniques, and chiropractic adjustments.Start Date: 12/01/2015 End Date: 2/28/2021 1,500 SF

Tenant Profile

Farm Bureau Financial Services


Farm Bureau Financial ServicesFarm Bureau Financial Serivices was founded in 1939 in Des Moines, Iowa. The company boasts over 1,600 employees and 4,000 field associates. The company offers auto, home and farm insurance products/services to individuals and small businesses across the West and Midwest. Matt Guzinski is a Farm Bureau Financial Services Agent at The Plaza at Cherry Hills. Start Date: 02/15/2007 End Date: 2/28/2022 1,200 SF

Tenant Profile

Soiree Venue, Bridal Room & Office


Soiree Venue, Bridal Room & OfficeThe Soiree Room features over 9,000 square feet of event space. The space also features an outdoor patio that can be used for ceremonies and additional reception space. The venue is flexible and can be downsized to accomodate events of any size. Next door is a bridal suite where the bridal party can stage their final hair, makeup, and wardrobe preparations. The Bridal Room shares space with the Soiree’s modern office. The Soiree Room offers a beautiful space for events ranging from parties to corporate events.Start Date: 06/01/14 End Date: 10/31/2024 11,679 SF

Tenant Profile

Backstage Dance


Backstage DanceWith humble beginnings as a home-based studio, Backstage Dance has been at the Plaza at Cherry Hills since 2005. Class sizes are limited to 16 students, which enables more personal instruction. There are a variety of classes available for all ages. The studio also has a retail shop with dance apparel and accessories. Karli Torosian and Andrea Robertson are the owners and instructors of Backstage Dance. They each have over 20 years of experience dancing and competing.Start Date: 11/01/2010 End Date: 3,000 SF


Tenant Profile

Harms OilHarms OilIn 1976, Duane Harms founded Harms Oil Company with three trucks. Today, Harms Oil Company along with its sister company, Dakota oil, have a fleet of over 100 transport trucks, bulk fuel, rail terminals and warehousing operations. Harms serves gas service stations such as Conoco, Shell, and Phillips 66 across Nebraska, North Dakota, South Dakota, Iowa, Minnesota, Montana and Wyoming. One of Harms Oil Company’s main offices is located in The Plaza at Cherry Hills.Start Date: 07/01/2007 End Date: 6/30/2024 1,920 SF


Tenant Profile

Richard A. Drews Attorney

Richard A. Drews AttorneyRichard A. Drews is an attorney with over 30 years of experience in estate planning, probate and estate administration, and civil and litigation and trial practice throughout the courts of the State of Nebraska.Start Date: 09/15/2013 End Date: 8/31/2024 441 SF


Tenant Profile

Villagio’s

Villagio’sVillagio Pizzeria is owned and operated by a local family since 2013. The restaurant has an outdoor patio, serves beer, wine, and unique and delicious pizza. There is also a party room that can host up to 30 people comfortably. Start Date: 02/01/2014 End Date: 04/30/2020 3,032 SF


Tenant Profile

Edward Jones

Edward JonesEdward Jones serves nearly 7 million investors from more offices than any other investment firm in America. As a privately owned company, Edward Jones has a very personal feel that’s almost like family. Start Date: 08/01/2018 End Date: 11/30/2023 1,180 SF


Tenant Profile

Legends Patio Grill & Bar

Legends Patio Grill & BarWith local brews, outdoor seating and great food, Legend’s Patio Grill & Bar is the perfect place to enjoy a televised sporting event. There are two locations in Omaha and one in Lincoln. The menu features everything from wings to burgers, to pizza, wraps, and salads. Catering and events are also offered.Start Date: 01/01/2005 End Date:12/21/2023 6,118 SF


Tenant Profile

Zesto Ice Cream & Grill

Zesto Ice Cream & GrillA family owned and operated Nebraska favorite for over 60 years, Zestos currently has seven locations. The ice cream shop offers arguably the best ice cream in the state. Zestos serves burgers, chicken, and hotdogs along with their notable ice cream treats. The building features a drive-thru, and outdoor seating.Start Date: 09/06/2005 End Date: 5/31/2021 1,600 SF


Tenant Profile

Ideal Eyecare

Ideal EyecareDr. Matthew Taylor is an optometrist that operates two eye doc-tor locations. Ideal Eyecare provides the most thorough eye care to families, ensuring healthy vision by utilizing the latest technology, educating patients, and improving the quality of lives of patients with recommended eyeware. Start Date: 03/16/2010 End Date: 3/31/2020 1,688 SF

16Executive Summary | Property Analysis | Location | Tenant Profile | Financials | Omaha | Demographics

Tenant Profile

EMS Billing Services

EMS Billing ServicesEMS Billing Services Inc. is the largest and most respected EMS and fire billing service in the Midwest with more than 300 clients in the Midwest and across the nation. Founded by president and founder Leslie Vaughn, EMS Billing Services Inc. has been helping squads reach financial stability since 1997. EMS Billing Services secures the funding to support quality and up-to-date emergency medical services. Many volunteer and municipal ambulance services face a common and constant challenge of collecting funds, and lack dedicated professionals to successfully run volunteer and municipal ambulance services.Start Date: 01/01/2018 End Date: 8/31/2023 3,543 SF

Founded in 1854, Omaha is the nation’s 40th largest city. Nearly 1.3 million people reside in the area and enjoy the vast array of oppor-tunities this city has to offer. Omaha has been named one of the Top 10 Cities to Raise a Family. Locals and tourists alike love the Henry Doorly Zoo and Aquarium, ranked by TripAdvisor as one of the best zoos in the world. Additionally, baseball fans throughout the country converge on the Big O every year for the College World Series. Omaha is also home to Warren Buffett and his company, Berkshire Ha-thaway, one of four Fortune 500 companies headquartered in the city. Sitting along the Missouri River, Omaha boasts a steady economy with a low unemployment rate and an afforable cost of living, which proves enticing for both families and companies.

OMAHA, NEBRASKA


Omaha,

Nebraska

2018 DEMOGRAPHIC PROJECTIONS

Demographics 1 Miles 3 Miles 5 Miles

Total Population: 8,819 57,156 162,069

Total Households: 3,285 23,488 67,431

Average HH Income: $80,463 $77,308 $82,407

DRIVE TIME MAP & DEMOGRAPHICS


Demographics


Non-Disclosure

AgreementThis Nondisclosure Agreement (“Agreement”) is entered into effective as of October 5, 2018 (“Effective Date”), by and between NP Dodge Real Estate, Inc. a Nebraska corporation (“NP Dodge”) and RL Development LLC (“RLD”) and Cherry Hills Village LLC (“CHV”), single member Nebraska limited liability companies. WHEREAS, NP Dodge and RLD/CHV desire to engage in discussions concerning the sale of Cherry Hills Village, also known as The Plaza at Cherry Hills, and obtain information regarding the operations of CHV whereby NP Dodge and RLD/CHV would disclose proprietary information between the parties. WHEREAS, NP Dodge and RLD/CHV may, but are not obligated to, provide “Confidential Infor-mation” (as defined below) to facilitate such dis-cussions and to otherwise evaluate the proposed transaction.WHEREAS, NP Dodge and RLD/CHV desires to keep these discussions secret and to protect their secret, confidential and proprietary business information and know how to which each party is given access pursuant to this Agreement.NOW THEREFORE, in consideration of the premises and for other good and valuable con-sideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:1. CONFIDENTIAL INFORMATION. As used herein, “Confidential Information” shall mean all documents, information and materials provided directly or indirectly in writing, orally or otherwise by each party including, but not limited to, all documents, materials, information, ideas, concepts, plans, proposals, names of resourc-es, financial information and related information, product or equipment information, drawings, designs, models, samples, specifications, cal-culations, methods, processes, procedures, applications, technology, know-how, techniques,

logistical information and the like. Confidential Information shall not include:(a) information which is now or hereafter enters the public domain without a breach of this Agreement, but only from the date of its public availability;(b) information known by NP Dodge and RLD/CHV prior to the time of disclosure by the disclosing party or information which is inde-pendently developed by the receiving party without the use of the Confidential Information;(c) information which is approved for release without restriction by written authorization of NP Dodge or RLD/CHV;(d) information which is disclosed to a third person by NP Dodge or RLD/CHV without similar confidentiality restrictions on the third person; or(e) information required to be disclosed under court, agency or similar judicial or admin-istrative order, provided NP Dodge or RLD/CHV is promptly notified of such order and all reason-able steps are taken to avoid or limit such disclo-sure.If NP Dodge or RLD/CHV determines that any of the foregoing enumerated exemptions applies to any Confidential Information, the determining party shall promptly advise the other party(ies) in writing of the basis for such determination, including detailed information and substantiation, and shall provide a minimum of ten (10) days for the party(ies) to respond prior to disclosure of such Confidential Information.2. NONDISCLOSURE. NP Dodge and CHV/RLD shall use the Confidential Information solely for the evaluation purposes contemplated hereunder. NP Dodge and RLD/CHV agrees to restrict disclosure of the Confidential Information only to those employees or clients who have an immediate need to know such information in connection with the evaluation of the proposed transaction. NP Dodge and RLD/CHV agrees to

inform its employees and clients receiving Confiden-tial Information of the obligations in this Agreement and shall remain liable for any of their noncompliance herewith. NP Dodge and RLD/CHV will not: (i) cre-ate derivative works of, modify, copy or translate the Confidential Information, (ii) sell, assign, distribute, lease, market, rent, sublicense, transfer, or otherwise grant rights to the Confidential Information in whole or in part to any third party, (iii) obfuscate, remove or alter any of the internet links or copyright or other proprietary legends that are in the Confidential Infor-mation or that are displayed on pages served by the Confidential Information, or (iv) decompile or disas-semble Confidential Information or any part thereof the Confidential Information. Notwithstanding any of the foregoing to the contrary, NP Dodge or RLD/CHV shall not disclose the Confidential Informa-tion to any client until the client signs a copy of this Agreement in the space provided below and NP Dodge or RLD/CHV returns such signed copy to the other party(ies), or NP Dodge and RLD/CHV furnish-es the other party(ies) with a copy of a confidentiality agreement or nondisclosure agreement in a form satisfactory to NP Dodge or RLD/CHV that has been duly executed by the other party(ies).NP Dodge and RLD/CHV further agrees to refrain from disclosing any Confidential Information to any other person or entity. NP Dodge or RLD/CHV shall promptly notify the other party(ies) of any request by any third party that any Confidential Information be disclosed and shall cooperate with NP Dodge or RLD/CHV in its efforts to protect the Confidential Information from disclosure.3. PUBLICITY. NP Dodge and RLD/CHV shall not publicly announce or disclose the existence of this Agreement, its terms and conditions, the fact


Non-Disclosure

Agreementthat the parties are engaged in discussions and/or contemplating a potential relationship or advertise or release any publicity regarding the potential relationship referenced in this Agree-ment without the express written consent of the other party(ies).4. OWNERSHIP. All Confidential Informa-tion received by NP Dodge or RLD/CHV here-under shall be and remain the sole and exclu-sive property of the disclosing party(ies). The Confidential Information and any and all copies shall, at NP Dodge’s or CHV’s/THEC’s option, be promptly returned to the disclosing par-ty(ies), at the recipient’s expense, upon request by either party and so certified by the recipient party(ies).5. NON-BINDING COMMITMENT. Neither this Agreement, nor the disclosure of Confi-dential Information under this Agreement, nor the ongoing discussions and correspondence between the parties, shall constitute or imply a commitment or binding obligation between the parties regarding the potential transaction, unless expressly stated in writing in a separate agreement.6. TERM OF AGREEMENT. The term of this Agreement shall extend twenty-four (24) months following the date of last disclosure of the Confidential Information, except that the obligations set forth in Sections 2 and 4 of this Agreement shall survive any expiration or termi-nation of this Agreement.7. REMEDIES. NP Dodge and RLD/CHV acknowledges that the disclosure of the Con-fidential Information by it would cause irrepa-rable harm and that monetary damages may not be adequate. Therefore, in the event of a breach by NP Dodge or RLD/CHV under this Agreement, NP Dodge or RLD/CHV shall be entitled to an injunction, without the require-

ment of posting a bond, in addition to any other remedies available at law or in equity. NP Dodge and RLD/CHV shall indemnify, defend and hold harmless each party against any loss, including reasonable attorneys’ fees as recoverable by law, arising out of either par-ty’s breach of its obligations and duties under this Agreement, including, without limitation, any loss incurred by NP Dodge or RLD/CHV in connection with an action brought by either party.8. ASSIGNMENT. The obligations of the parties shall be binding on and inure to the benefit of their respective heirs, succes-sors and permitted assigns. This Agreement and the rights and obligations of the parties hereunder may not be assigned, delegated or transferred, in whole or in part, without the express written consent of the other party.9. VALIDITY. In the event of the invalidity of any provision of this Agreement, the par-ties agree that such invalidity shall not affect the validity of the remaining provisions of this Agreement. The parties further agree to sub-stitute for the invalid provision a valid provision which most closely approximates the effect and intent of the invalid provision.10. ENTIRE AGREEMENT. This is the only agreement between the parties hereto relative to the subject matter hereof and supersedes all prior agreements, oral and written, regard-ing this subject. This Agreement may only be amended or modified by a written amendment executed by an officer of both parties.11. GOVERNING LAW. This Agreement shall be construed and enforced according to the substantive laws of the State of Nebraska applicable to contracts entered into and fully performed in Nebraska. Any litigation arising under or in any way related to this Agreement

shall be conducted in the appropriate state or federal courts located in Douglas County, Nebraska, and the parties hereby waive any and all challenges based on im-proper venue or lack of jurisdiction in order to effectuate the foregoing.

IN WITNESS WHEREOF, the parties hereto have execut-ed this Agreement effective on the Effective Date.

NP Dodge Real Estate, Inc. (“NP Dodge”)

By: ____________________________________ RLD Development LLC/Cherry Hills Village LLC (“RLD” and “CHV”)

By:____________________________________ Name/Title: V.P. of Strategic Initiatives

The undersigned client of NP Dodge or RLD/CHV hereby agrees to all of the terms and conditions of the foregoing Agreement and to be bound by the same.

_________________________________(Person or entity name)

Title:_____________________________

Signature:________________________

Date:____________________________

Executive Summary - LoopNet · Next door is a bridal suite where the bridal party can stage their...

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