OKLAHOMA THREE PROPERTY PORTFOLIO · Cosmetology, Nail Technology, and Massage Therapy. Also...

OKLAHOMA

THREE PROPERTY PORTFOLIOACTUAL SITES

ACTUAL SITE 2 NATIONAL NET LEASE GROUP

SHEREE STROME, CCIMFirst Vice PresidentSRS National Net Lease Group

3445 Peachtree Road NE, Suite 950Atlanta, GA 30326D [email protected] GA License No. 341202

MICHAEL BERKSenior AssociateSRS National Net Lease Group

3445 Peachtree Road NE, Suite 950Atlanta, GA 30326D [email protected] GA License No. 385824

JIM STEPHENSJPS Real Estate, LLC

M [email protected] License No. 138135

Managing Broker: Mark Reeder - SRS Real Estate Partners-Southwest, LLC OK License No. 109143

EXCLUSIVELY MARKETED BY


TENANT NAME ADDRESS CITY STATEYEAR BUILT

ACRES SF PRICE NOICAPRATE

TERM REMAINING

LEASE TYPLE

Community Care College 4242 S. Sheridan Road Tulsa OK 1984 3.97 66,000 $13,500,000 $1,157,844 8.58% 10 Years Absolute NNN

Oklahoma Technical College 4444 S. Sheridan Road Tulsa OK 1985 6.30 52,514 $9,500,000 $916,296 9.65% 10 Years Absolute NNN

Clary Sage College 3131 S. Sheridan Road Tulsa OK 2006 5.80 48,859 $11,500,000 $898,236 7.81% 10 Years Absolute NNN

Portfolio Pricing $31,288,168 $2,972,376 9.50%

PORTFOLIO OVERVIEW

4 NATIONAL NET LEASE GROUP

ABOUT COMMUNITY CARE COLLEGE

Community Care College

Community Care College is a nonprofit private career college in Tulsa, Oklahoma, United States. The college is the main campus of two branches, Clary Sage College and Oklahoma Technical College. Founded in 1995 under the name "Dental Directions: The School of Dental Assisting," the college eventually expanded its curriculum to other include career oriented programs. The colleges are licensed by the Oklahoma Board of Private Vocational Schools and accredited by the Accrediting Commission of Careers Schools and Colleges (ACCSC). In 2003, the college moved to its current location at 4242 S. Sheridan Road after purchasing the building from QuikTrip. In 2004, CCC began offering Associate of Applied Science degrees, which was changed to an Associate of Occupational Science Business and Industry Management degree in 2017.

The college is accredited by the Accrediting Commission of Careers Schools and Colleges (ACCSC) and licensed by the Oklahoma Board of Private Vocational Schools (OBPVS).

Forty-six diploma and degree programs at the college have earned approvals by the Oklahoma Board of Private Vocational Schools (OBPVS), Commission on Accreditation of Allied Health Education Programs, Department of Education, Vocational Rehabilitation, Bureau of Indian Affairs, Workforce Oklahoma, Veteran's Administration, The Accrediting Bureau of Heath Education Schools (ABHES) and the Accrediting Commission of Careers Schools and Colleges (ACCSC).

Oklahoma Technical College

The success of Clary Sage College led to a decision to establish Oklahoma Technical College (OTC), offering programs in automotive technology, diesel technology, welding technology, electrical technology, and heating, ventilation, air conditioning (HVAC), and refrigeration. OTC opened in 2009.

The colleges operated under a for-profit corporation for 20 years but in 2015 the colleges became non-profit when their assets were acquired by a newly formed 501(c)(3) public charity, Community HigherEd.

Clary Sage College

Clary Sage College is one of the more premier cosmetology and design schools in the country. Offering programs in Interior Design, Fashion Design, Makeup Artistry, Cosmetology, Nail Technology, and Massage Therapy. Also offering Barber and Esthetician schools, Clary Sage College (CSC) was established in 2005 as a branch campus of Community Care College. The College is a degree-granting institution; students are eligible to earn an Associate of Occupational Science degrees in several of the programs offered by taking additional courses at the main campus, Community Care College.

The success of Community Care College (CCC) led to expand the career-based college by creating a second campus. Clary Sage College (CSC) was developed to provide an advanced education in the field of cosmetology, operating simultaneously as a cosmetology college and functioning spa so students could practice their skills and build clientele in a professional, real-world setting. In 2010, CSC expanded to include programs in Fashion and Interior Design. Summer of 2015, the college converted from for-profit to nonprofit status in order to expand educational opportunities to those that need it the most through increased scholarships and reduced tuition.

The school is accredited by the Accrediting Commission of Careers Schools and Colleges (ACCSC) and licensed by the Oklahoma State Board of Cosmetology and the Oklahoma Board of Private Vocational Schools. Clary Sage College and/or employees have current affiliations with the National Cosmetology Association, America Association of Cosmetology Schools (AACS) and the Association of Private Sector Colleges and Universities (APSCU). Clary Sage College is approved by the U.S. Department of Education and for Veterans Education.


PHOTOS


LEASE OVERVIEW

Tenant Community Care College

Guaranty Corporate

Commencement 7/1/2019

Lease Expiration 7/1/2029

Annual Rent $1,157,844

Rental Increases 7% Rental Increase 7/1/2024

Lease Type Absolute NNN

Landlord Responsibilities None

Ownership Fee Simple (Building and Land)

PROPERTY OVERVIEW

Property Address 4242 S. Sheridan Road, Tulsa, OK 74145

Year Built 1984

Building Size 66,000 SF

Land Area 3.97 AC

Parcel # 27490-93-27-11250

Parking Spaces 287

Parking Ratio 4.35

2019 ESTIMATED POPULATION

1 Mile 10,197

3 Mile 93,068

5 Mile 274,455

2019 AVERAGE HOUSEHOLD INCOME

1 Mile $54,461

3 Mile $69,547

5 Mile $72,645

4242 S. SHERIDAN ROAD | TULSA, OKLAHOMA


PHOTOS


LEASE OVERVIEW

Tenant Oklahoma Technical College

Guaranty Corporate



Annual Rent $916,296





PROPERTY OVERVIEW


Year Built 1985


Land Area 6.30 AC

Parcel # 28887-93-27-26020

Parking Spaces 136

Parking Ratio 2.59


1 Mile 11,376

3 Mile 92,157

5 Mile 271,210


1 Mile $55,909

3 Mile $70,098

5 Mile $73,188



PHOTOS


LEASE OVERVIEW

Tenant Clary Sage College

Guaranty Corporate



Annual Rent $898,236





PROPERTY OVERVIEW


Year Built 2006


Land Area 5.80 AC

Parcel # 99323-93-23-10390

Parking Spaces 432

Parking Ratio 8.84


1 Mile 9,378

3 Mile 93,964

5 Mile 259,214


1 Mile $56,524

3 Mile $66,696

5 Mile $69,350


E. 41ST ST.E. 41ST ST.

U.S. HIGHWAY

U.S. HIGHWAY 64. 64.

INTERSTATE

INTERSTATE 4444S. SH

ERIDAN RD.S. SH

ERIDAN RD.

CARS PER DAY101,900

CARS PER DAY34,600

CARS PER DAY38,000

CARS PER DAY89,900

SOUTHROADS SHOPPING CENTERSOUTHROADS SHOPPING CENTER

TOWN & COUNTRY TOWN & COUNTRY SCHOOLSCHOOL

TULSA TECHTULSA TECH BUSINESS & BUSINESS &

INDUSTRY INDUSTRY TRAININGTRAINING

PAM SPECIALTY PAM SPECIALTY HOSPITAL OF HOSPITAL OF

TULSATULSA

BISHOP KELLEY BISHOP KELLEY HIGH SCHOOLHIGH SCHOOL

OU-TULSAOU-TULSA

TULSA PROMENADETULSA PROMENADE

SKELLY SKELLY ELEMENTARY SCHOOLELEMENTARY SCHOOL



Tulsa, Oklahoma

Tulsa is the second-largest city in the state of Oklahoma and 47th-most populous city in the United States. Tulsa is located in northeastern Oklahoma on the Arkansas River. Tulsa is the second largest city in Oklahoma, providing commerce, industrial, transportation, and financial services for a metropolitan area of 982,521 people. The city serves as the county seat of Tulsa County, the most densely populated county in Oklahoma, with urban development extending into Osage, Rogers, and Wagoner counties.The City of Tulsa is the 2nd largest city in Oklahoma with a population of 415,675 as of July 1, 2018. Tulsa ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Oklahoma.

Tulsa remains an important center for the industry, with a diversified economy now embracing industries such as aerospace, health care, energy, machinery and electrical equipment manufacturing and transportation, and distribution and logistics. Tulsa is particularly attractive to high-tech industries, and also encourages small businesses. Tulsa is a great place to live. Today, Tulsa is again home to the headquarters of many international oil and gas-related companies, including Williams Companies, SemGroup, ONE Gas, Syntroleum, ONEOK, Laredo Petroleum, Samson Resources, Helmerich & Payne, Magellan Midstream Partners, WPX Energy, and Excel Energy.

Located in the heart of the United States, Tulsa is a convenient location by air, rail, ground and water - a true intermodal city. Tulsa offers air cargo service through numerous freight carriers at Tulsa International Airport, more than 50 local motor freight companies, rail service through two mainline-carriers and three short-line carriers and barge service through the Tulsa Port of Catoosa. Because of area’s low cost of doing business and skilled workforce, it is an ideal location for business growth. And as a result, today Tulsa is a vibrant city with many diverse, profitable industries and an ever-expanding array of living and entertainment opportunities.

Downtown Tulsa is home to numerous buildings on the National Register of Historic Places, 9.9 million square feet of office space, seven major cathedrals and churches representing 30,000 members and 1,000+ residential units – a number expected to grow rapidly. Its skyline is adorned by the many opulent, Art Deco towers built by oil barons in the ‘20s, and now, downtown is experiencing a renaissance as the newest developments are being built by 21st Century visionaries.

Tulsa is home to the largest collection of western art in the world, and the recently acquired Bob Dylan Archives are housed and managed by the University of Tulsa. The Tulsa Performing Arts Center attracts the top Broadway musicals, as well as some of the top musical acts and national speakers annually.

AREA OVERVIEW


AREA OVERVIEW

Gathering Place, Tulsa’s Riverfront Park

Imagine a park that offers amazing attractions and world-class programming for all ages with no entry fee.

This dream was built into reality at Gathering Place: Tulsa’s Riverfront Park. Gathering Place aims to serve as a cornerstone for our vibrant community while improving social, economic and environmental sustainability in Tulsa.

• Gathering Place was voted USA Today’s Best New Attraction of 2019

• Gathering Place is funded by a combination of more than 80 corporate and philanthropic organizations.

• Construction began in September 2014 and Phase I (66.5 acres) opened in September 2018.

• Renowned landscape architect firm Michael Van Valkenburgh Associates designed the unique Park with input from the community.

• When Phase II and III are completed, the footprint of Gathering Place will be 100 acres.

Tulsa Ballet

Tulsa ballet creates five productions annually in addition to The Nutcracker and reaches an audience of over 48,000 individuals every season. The company has undertaken an ambitious repertory building program. For the past eleven years, Tulsa Ballet has added more than 60 new works to its repertory, many of which have been either American Premieres or World Premieres. Many of the world’s best choreographers have worked with Tulsa Ballet.

In its first international tour in 2002, Tulsa Ballet was declared by the Portuguese national magazine Semanario “One of the best in the world.” The company has received two feature articles in Dance Magazine during the past seven years, has been featured in the New York Times, Pointe Magazine, and Dance Europe among others. In March 2008, Tulsa Ballet was featured on the cover of Pointe magazine- a distinction given to only one ballet company each year.


AREA OVERVIEW

Philbrook - Museum of Art & Gardens

In 1938 Waite Phillips surprised Tulsans with the announcement of his gift of the 72-room mansion and surrounding 23 acres of grounds as an art center for the city of Tulsa. The vision first made possible by Waite and Genevieve Phillips is now one of America’s finest art museums. The integrity of the original residence remains intact while later additions to the facility and gardens complete this classic Tulsa attraction.

Serving over 160,000 visitors annually, Philbrook has become a poignant testimony to Tulsa’s past while building a shining example of this city’s bright future. Through the generosity of Trustees, Donors, and the George Kaiser Family Foundation, Philbrook opened a new satellite facility in Tulsa’s Brady Arts District on June 14, 2013 featuring the Museum’s growing collection of Modern and contemporary art as well as highlights from the comprehensive Native American collection, which includes the Eugene B. Adkins Collection and Study Center.

Art Deco Architecture

In the early 1920s, as the Jazz Age flourished in Manhattan and the newly minted “Hollywoodland” lured the would-be rich and famous to the West Coast, an empire was growing in the middle of the United States. With a second wave of oil discoveries along the Arkansas River, Tulsa, Oklahoma in particular became a veritable boomtown. As businessmen from more cosmopolitan areas arrived and built refineries, a city of great wealth grew around them, with architects and designers taking cues from the au courant Art Deco style that dominated bigger cities. The area was ripe for development, what with this vast midwestern landscape being further west than any city in the vicinity developed at the time. Before long, Tulsa became the “Oil Capital of the World” a commercial mecca, despite the odds.

“Tulsa was a risk located on the edge of habitable land that came of age during an era of cultural and artistic excitement in America,” says Shane Hood, a Tulsa Foundation for Architecture board trustee and a designer at Tulsa-based W Design. “It was a new city looking to be of its place and time, mixing the avant-garde with the culture of its people for a unique take on architecture, art, et cetera, which set the foundation for an appreciation of the arts and humanities for decades to come.” That appreciation is in full force today. Several long-standing Art Deco buildings, designed in accordance with the style of bigger cities at the time, have been rehabilitated or repurposed to stand as living monuments to the past.

RETAIL PROFESSIONALS

OFFICES LARGEST REAL ESTATE SERVICES FIRMin North America

exclusively dedicated to retail

RETAIL LISTINGSin 2018

TRANSACTION VALUEin 2018

275+ 25+ #1 1500+ $2.6B

SRS NATIONAL NET LEASE GROUP IS THE EXCLUSIVE NET LEASE CAPITAL MARKETS TEAM OF SRS REAL ESTATE PARTNERS.

This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made

available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not

purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified

purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.

*Statistics are for 2018

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OKLAHOMA THREE PROPERTY PORTFOLIO · Cosmetology, Nail Technology, and Massage Therapy. Also...

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