Subject Property BLOCKBUSTER Video .BLOCKBUSTER | Corporate Sale-Leaseback | Easley, SC BLOCKBUSTER

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Transcript of Subject Property BLOCKBUSTER Video .BLOCKBUSTER | Corporate Sale-Leaseback | Easley, SC BLOCKBUSTER

  • BLOCKBUSTER | Corporate Sale-Leaseback | Easley, SC

    BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC

    This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.

    BLOCKBUSTER5138 Calhoun Memorial Highway, Easley, SC

    Priced Well Below Replacement Cost Brand New, Absolute NNN, 10-Year Corporate Sale-Leaseback with BLOCKBUSTER Inc. (NYSE: BBI) BLOCKBUSTER Inc.: 6,000+ Stores Worldwide | Revenues $4.6+ Billion in January 2010 Strategically Located Calhoun Memorial Hwy., A Major Thoroughfare |Traffic: 36,800+ Cars / Day A 500,000 SF Power Center is Being Constructed Directly East of the Property Neighboring Retailers include Wal-Mart, Lowes, Bi-Lo, Kmart, Ingles and Walgreens Among Others Greenville, SC is Approximately 12 Miles East of the Property

    $832,000 | 10% CAP | 6,400 SF | $130 PSF

    New Corporate Sale-Leaseback25 Stand Alone Stores Available Throughout the Southeastern U.S.

    Exclusive Listing Agents: Bob Moorhead | Joe Caputo212.686.0079 | joe@exp1031.com | www.exp1031.com

    In association with South Carolina Broker of Record: Marc Liles | License # 73130

    Subject Property

  • BLOCKBUSTER | Corporate Sale-Leaseback | Easley, SC

    BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC

    This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.

    List Price: $832,000

    CAP Rate (Existing): 10.00%

    Building Area: 6,400 + SF

    Building Price / SF: $130 + PSF

    Land Area: 0.70 + Acres

    Land Price / SF: $27 + PSF

    Year Built: 1990

    Ownership: Fee Simple

    LEASE OVERVIEW

    Base Rent: $83,200 / Year

    Annual Rental Rate: $13 PSF

    Rent Commencement: Close of Escrow

    Primary Term: 10 Years*

    Options to Renew: 2, 5-Year

    Rent Increases: 10% Every 5 Yrs.

    Tenant: BLOCKBUSTER Inc.

    Lease Type: Absolute NNN

    * Tenant has the right to terminate their lease after year 5

    COPYRIGHT 2010. ALL USE, DISCLOSURE AND/OR REPRODUCTION NOT SPECIFICALLY AUTHORIZED IS PROHIBITED. ALL RIGHTS RESERVED. Retail Real Estate Group dba Retail Resource Group and EXP Realty Advisors (Agent) has presented this confidential Investment Memorandum to assist the recipient in evaluating the Property and it is intended for your use only. This confidential material contains brief, selected information pertaining to the Property and shall not be considered all-inclusive or unchanged since the date of preparation. No warranty as to the accuracy or completeness is expressed or implied. The information has been received from sources believed to be reliable but is not guaranteed. Agent disclaims all liabilities in connection with any inaccuracies or incompleteness. The Buyer should independently verify each item of information and have the same reviewed by its tax advisor and/or legal counsel. The Buyer agrees that (a) the materials are of a highly confidential nature and will be held in the strictest confidence or shall be returned to Agent upon request; (b) the Buyer shall not contact any property manager, employee or tenant of the Property regarding the enclosed materials or the Property, without prior approval of Agent; and (c) the Buyer understands and agrees that Agent represents the seller and not the Buyer. Neither the seller nor Agent shall have any obligation to pay any commission, finders fee, or other compensation to any broker or other person dealing with the Buyer. The Buyer may provide information to persons retained for the purpose of evaluating the Property after first obtaining a signed confidentiality agreement from such persons to keep such information confidential. The Buyer shall defend, indemnify and hold harmless the seller, Agent and its affiliates from and against any claims, demands, damages, liabilities, costs or expenses, including reasonable attorneys fees, relating to any claim for a commission, finders fee or other compensation by any broker or other person dealing with the Buyer. The Property is being sold on an as-is, where-is and with all faults basis.

    5138 Calhoun Memorial Hwy, Easley, SC

    OFF MAIN ST

    EXP Realty Advisors and Retail Resource Group as exclusive advisors are pleased to present for sale a singletenant corporate sale-leaseback BLOCKBUSTER. This offering provides investors the unique opportunity ofowning net leased real estate, priced below the buildings replacement cost, with a double digit investmentyield and potential upside in the event BLOCKBUSTER were to vacate.

    This location is being sold as a part of a 25 store offering which can be purchased individually or as a portfolio. For additional information on other available BLOCKBUSTER properties please visit www.exp1031.com.

    IMMEDIATE TRADE AREA

    The subject property is strategically located along a highly traveled Calhoun Memorial Hwy. (average traffic: 36,800+ cars/day). The property is across the street form a Bi-Lo and Big Kmart anchored shopping center. Easley Town Center, a 500,000 SF power center is being constructed directly east of the property. It will be anchored by Wal-Mart and is scheduled to be complete spring of 2011. Tenants in the immediate trade area include Ingles, Walgreens, CVS, Lowes, Home Depot and Publix among others. Easley is a city in Anderson and Pickens county in the U.S. state of South Carolina. It is a principal city of the GreenvilleMauldinEasley MSA.

    GREENVILLE, SC

    Located in the beautiful foothills of the Blue Ridge Mountains, Greenville sits in the northwestern corner of South Carolina about 20 miles west of where Interstate 85 crosses Interstate 26. The city is part of an eight county CSA commonly referred to as the Upstate, and is centrally situated between two of the largest cities in the Southeast, Charlotte and Atlanta. It is currently the fastest growing city in the state and has become one of the most rapidly growing areas in the country. 2008 statistics show that Greenville County is South Carolinas most populous county with more than 350,000 residents and approximately 56,000 of those residents live within the Greenville city limits. The City of Greenville ranks 12th in the state for cities with 5,000 or more population. The city's official population estimate is 84,986 residents (July 2009). The Greenville Metro Area includes 183,000 people.

    With more than 250 international firms and over 100 Fortune 500 companies, Greenville boasts the highest international investment per capita in the nation and is considered to be the economic center of the Upstate. The city has annexed over 1,700 acres of development property since 2002, including both private and public projects such as the Millennium Campus and the International Center for Automotive Research.

    Subject Property

  • BLOCKBUSTER | Corporate Sale-Leaseback | Easley, SC

    BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC

    This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.

    Subject Property

  • BLOCKBUSTER | Corporate Sale-Leaseback | Easley, SC

    BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC

    This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.

    Subject Property

    Subject Property

  • BLOCKBUSTER | Corporate Sale-Leaseback | Easley, SC

    BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC

    This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.

    Tenant Overview

    BLOCKBUSTER INC. www.blockbuster.com

    BLOCKBUSTER Inc. (NYSE: BBI, BBI.B), is a leading global provider of in-home movie and game entertainment with over 6,000 storesthroughout the Americas, Europe, Asia and Australia. The Company is one of the strongest and most recognizable entertainment brands in the world.

    BLOCKBUSTER's stores are a ubiquitous neighborhood feature attracting nearly 47 million customers annually. Company-operated stores are open 365 days a year generally from 10 a.m. to midnight. Merchandise selection, quantity and formats are customized at the store level to meet the needs and preferences of local customers.

    As the media entertainment industry has evolved, so too has BLOCKBUSTER. The Company is no longer just a chain of video stores. While transforming and diversifying its store-base continues as a company priority, BLOCKBUSTER now offers convenient access to media entertainment any where and any way consumers want it whether in stores, by mail, through vending / kiosks or digitally.

    BLOCKBUSTER is the only company able to provide convenient access to media entertainment across multiple channels, recognizing that the same customer may choose different ways to access media entertainment on different nights. Whether a customer selects traditional stores, by-mail, vending or digital, BLOCKBUSTER is uniquely positioned as the only provider to deliver entertainment content across all channels.

    On November 1, 2006, the Company introduced BLOCKBUSTER Total Access, a movie rental program that gives online customers the option of exchanging their DVDs through the mail or returning them to a nearby participating BLOCKBUSTER store in exchange for free in-store movie rentals. With BLOCKBUSTER Total Access, custom