Net Lease Property For Sale
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NET LEASED INVESTMENT OFFERING www.bouldergroup.com Shopko 3271 Market Place Drive Council Bluffs, IA 51501 (Omaha MSA)
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Transcript of Net Lease Property For Sale
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Shopko3271 Market Place Drive
Council Bluffs, IA 51501 (Omaha MSA)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
1) Confidentiality&Disclaimer
2) ExecutiveSummary
3) PropertyOverview
4) Aerial
5) SitePlan
6) Maps
7) TenantProfile
8) DemographicComparisonReport
9) LocationOverview
10) ContactInformation
TABLE OF CONTENTS
TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantnetleasedShopkopropertylocatedintheOmahaMSA.ThepropertyislocatedlessthanthreemilesfromdowntownOmahaandbenefitsfromatradeareapopulationinexcessof248,000.Shopkohasalongtermleasewith17yearsremainingthatfeaturesa10%rentalescalationintheprimaryterm.Shopkoisachainof136retailstoresthatprovidesqualityname-brandmerchandisealongwithpharmacyandopticalservices.
Thepropertyislocatedadjacenttoamulti-tenantshoppingcenter,directlyoffInterstate80,lessthanthreemilesfromdowntownOmaha. Interstate80experiences traffic volumes in excessof100,000 vehiclesperday. Theproperty is locatedwithinTheMarketplace,ashoppingcenter featuringJCPenney,ShoeCarnival,Petco,TexasRoadhouse,CulversandVerizonWireless.
Additionally,lessthanonehalfmilefromthepropertyisaprimarytouristandretaildestinationanchoredbytheMid-AmericaConventionCenter.Thearea ishometoseveralcasinos includingHorseshoe,Harrah’s,AmeristarCasinoandnumeroushotels.TheMid-AmericaCenterisan8,000seatarenaandconventioncenter.ThecenteristhehomeoftheIowaBlackhawks(ArenaFootballLeagueteam),andhostsconcertsforseveralnationalrecognizedperformers.OtherretailersintheimmediateareaincludeBassProShops,CampingWorld,andanAMCStar17screenmovietheater.Additionally,Wal-MartSupercenter,Sam’sClub,HomeDepot,BestBuy,MenardsandGordmansarelocatedlessthantwomileseastofthepropertyalongwithMetroCrossing,ashoppingcenteranchoredbyTarget,HobbyLobby,Kohl’s,BedBathandBeyondandT.JMaxx.
Shopko’soriginalleasetermwasfor20yearsandtheleaseexpiresinJanuary2030.Theleasefeaturesa10%rentalescalationin2019aswellasfour5-yearrenewaloptionsatescalatedrents.Shopkoisaprivately-heldcompanywitha136locationsin13states.
INVESTMENT HIGHLIGHTS
•LocatedwithintheOmahaMSA
•Longtermleasewithover17yearsremaining
•10%rentalescalationintheprimarytermofthelease
•DirectlyoffInterstate80(100,000VPD)
•One-halfmilefromMid-AmericaCenter(8,000seatarenaandconventioncenter),HorseshoeCasino,Harrah’sCasino,AmeristarCasinoandseveralhotels
•NearbyretailersincludeBassProShops,CampingWorld,andanAMCStar17screenmovietheater
•CloseproximitytoWal-MartSupercenter,Sam’sClub,HomeDepotandTarget
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Price: $8,021,261
CapRate: 8.40%
RentSchedule: NOI EscalationDate
$673,786$741,165 02/27/19$815,281 02/01/30(Option1)$896,809 02/01/35(Option2)$986,490 02/01/40(Option3)$1,085,139 02/01/45(Option4)
RenewalOptions: Four5-year
LeaseCommencementDate: February27,2009
LeaseExpirationDate: January31,2030
Tenant: Shopko
YearBuilt: 2009
LeaseType: NN
RentableSquareFeet: 80,000
LandSize: 6.10acres
PROPERTY OVERVIEW
PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
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AERIAL
AERIAL
S. 2
4TH
STR
EET
100,000 VPD80
29
NET LEASED INVESTMENT OFFERING
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SITE PLAN
SITE PLAN
34th
SAV
ENUE
MAR
KETP
LACE
DR.
24th STREET
80
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE
SITE
MAPS
MAPS
NET LEASED INVESTMENT OFFERING
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Shopko isachainofretailstoresbasedinGreenBay,Wisconsin.Shopkooperates136storeslocatedin13statesandgeneratesannual salesofapproximately$2.2billion.Shopkoprovidesqualityname-brandmerchandise,greatvalues,pharmacyandopticalservicesinsmalltomid-sizedcities.InDecember2005,thecompanywasacquiredbyanaffiliateofSunCapitalPartners.In1999,ShopkopurchasedPamida,aregionaldiscountchainthatoperatedmainlyinsmallercommunitiesof3,000to8,000people.ShopkooperatedPamidaasaseparatedivisionuntil2007,howeverin2012,ShopkoandPamidamergedintoonecompanywithmostPamidastoresbecomingShopkoHometownstores.
Shopkooperatesunderthreedifferentbrands;Shopko,ShopkoExpressandShopkoHometown.ShopkoExpressisachainofpharmaciesthatcarryalimitedselectionofgeneralmerchandise,groceries,beer,wine,healthandbeautysupplies,andover-the-countermedicines.ShopkoHometown,isShopko’snewestconceptwhichisaimedatsmallercommunitiesrangingfrom3,000to8,000inpopulation,andcarryabout70%ofthemerchandisecarriedatShopko’slargerstores.InadditiontothemultiplebrandsShopkooperatesunderShopko,in1999,signedacontractwithPaylessShoestoleasethechainfloorspacewithinShopkostores.
SunCapitalPartners,Inc.isaleadingprivateinvestmentfirmfocusedonleveragedbuyouts,equity,debt,andotherinvestmentsinmarket-leadingcompaniesthatcanbenefitfromitsin-houseoperatingprofessionalsandexperience.SunCapitalaffiliateshave invested inandmanagedmore than165companiesworldwidewithcombinedsalesinexcessof$35.0billionsinceSunCapital’sinceptionin1995.SunCapitalhasofficesinBocaRaton,LosAngeles,andNewYork,andaffiliateswithofficesinLondon,Tokyo,andShenzhen,China.
Website: www.shopko.comNumberofLocations: 136StateLocations: 13Standard&Poor’sRating: PrivateEmployees: 16,000
TENANT PROFILE
TENANT PROFILE
NET LEASED INVESTMENT OFFERING
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Population 3-mi 5-mi 7-mi
TotalPopulation 45,223 145,651 269,264TotalHouseholds 17,771 54,100 102,900
Income
MedianHouseholdIncome $37,090 $35,732 $36,762AverageHouseholdIncome $47,331 $48,149 $49,589
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
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Council Bluffs islocatedinSouthwestIowaonthebanksoftheMissouriRiverinPottawattamieCounty.PottawattamieCountyispartoftheOmahametropolitanareawhichisrankedasthe60thlargestmetropolitanareaintheUnitedStates.Atthetimeofthe2010U.S.Census,CouncilBluffshadapopulationof62,230andtheOmaha-CouncilBluffsmetropolitanareahadapopulationof865,350.TheCouncilBluffseconomyisbenefittedbythecasinogamingindustry.CouncilBluffsishasthe19thlargestCasinomarketintheUnitedStates,withrevenuereachingnearly$435
million.Casinos inCouncilBluffs includeAmeristarCasinoHotelCouncilBluffs,Harrah’sandHorseshoe.CouncilBluffsalsohasalargemanufacturingpresenceandTysonFoods,Con-Agra,Grundorf,AmericanGamesandOmahaStandardallhavemanufacturingplantsinthecity.
www.councilbluffs-ia.org
Omaha isthelargestcityinthestateofNebraskaandisthecountyseatofDouglasCounty.Atthetimeofthe2011U.S.Census,Omahahadapopulationof415,068makingitthe42ndlargestcityintheU.S.OmahahasathrivingeconomyandaccordingtoUSAToday,Omaharankseighthamongthenation’s50largestcitiesinbothper-capitabillionairesandFortune500companies.Fortune500companiesheadquartered inOmaha includeConAgraFoods,UnionPacificCorporation,
MutualofOmaha,KiewitCorporationandBerkshireHathaway.In2009,ForbesidentifiedOmahaasthenation’snumberone“BestBang-For-TheBuckCity”andnumberoneon“America’sFastest-RecoveringCities”lists.
Omahahasbeenatouristdestinationformanyyearsandattractionsincludehistory,sports,outdoorsandculturalexperiences.ItsprimaryattractionsaretheHenryDoorlyZoo,theCollegeWorldSeriesandTheOldMarketindowntownOmaha.HenryDoorlyZooisconsideredoneofthepremierzoosintheworld.Thezooishometotheworld’slargestnocturnalexhibitandindoorswamp,indoorrainforest,desertandthelargestgeodesicdome.
www.cityofomaha.org
LOCATION OVERVIEW
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION
