175 units - capital pacific [email protected] 225.237.3343 al lic.# 000091221 the huntsville msa is...

MERRILL GARDENS

SENIOR LIVING

175 UNITS

NOR

MADISON, AL

FULLY LEASED PREMIER STRIP CENTER IN HUNTSVILLE MSA MEDICAL PARK STATION

MERRILL GARDENS

SENIOR LIVING

175 UNITS

US HWY 72 BOASTS DAILY TRAFFIC COUNTS OF 33,690 VPD

CLIFT FARM DEVELOPMENT

SEE PAGE 22 FOR MORE INFO

72

LEE HIG

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WAY

2

MEDICAL PARK STATION

$11,412,000PRICE

103-107 BROOKRIDGE DRIVE, MADISON, AL 35758

Well-positioned strip center in Madison’s primary retail node

Diversified mix of national and regional daily needs tenants

Fully occupied with recent leasing momentum

The nearby 3,843-acre Cummings Research Park is the 2ndlargest research park in the U.S.

Affluent suburb of Huntsville with Average Household Income exceeding $118K within a 3-mile radius

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

LEASABLE SF33,156 SF

NOI$745,755

OCCUPANCY100%

LAND AREA3.97 AC

YEAR BUILT2014

PARKING195 SPACES

6.53%CAP

3

Overview

https://www.google.com/maps/place/105+Brookridge+Dr,+Madison,+AL+35758/@34.7490683,-86.7616018,16.25z/data=!4m5!3m4!1s0x88626614f657949b:0xd41e50000511a445!8m2!3d34.7495576!4d-86.7596675



THE OFFERING provides an opportunity to acquire Medical Park Station, a trophy retail strip center located in the affluent Huntsville suburb of Madison, Alabama. Medical Park Station was developed in 2014 and features high-quality construction and prominent pylon signage along Highway 72 (33,690 VPD), one of Madison’s main arterials. This 100% leased center features Mattress Firm, Dunkin’ Donuts w/ drive-thru, and Tazikis Mediterranean Café. Harklen Health & Wellness and a nail salon recently signed leases to enter the center, thus displaying the allure to this retail node. Positioned within Madison’s primary retail node, Medical Park Station sits adjacent to a Target anchored center, and is directly across the street from a 550 acre mixed-use development currently under construction (see pg. 22 for details). Madison is within the Huntsville MSA, the second-largest metropolitan area in the state, and the subject property benefits from an affluent community that boasts average household incomes that exceed $118,000 within a 3-mile radius.

Contact the team

IN CONJUNCTION WITH AL LICENSED BROKER: Beau J. [email protected] LIC.# 000091221

THE HUNTSVILLE MSA IS THE SECOND LARGEST MSA IN ALABAMA


THE RETAIL MARKET - The subject property is in the northern part of Madison, with downtown Huntsville to the east, and the Huntsville International Airport to the south. Highway 72, which flows east-west and funnels traffic to and from downtown Huntsville, is densely populated with retail shopping centers and draws in traffic from surrounding residential communities. Nearby retailers include Walmart, Target, Publix Supermarket, The Home Depot, Planet Fitness, and Chick-fil-A.

CHRIS [email protected]: 415.274.2701CA DRE# 01002010

ZEB [email protected]: 415.274.2702CA DRE# 01242540


JACK [email protected]: 415.274.2705

CA DRE# 01909630

4

Investment Highlights

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UNIVERSITY DRIVE

UNIVERSITY DRIVE

UNIVERSITY DRIVE NW

UNIVERSITY DRIVE NW

JORDAN LANE NW

JORDAN LANE NW

LEE HIGHWAYLEE HIGHWAY

72

ALT 72

565

53

255

47,355 VPD

OAKWOOD UNIVERSITY

MADISON HOSPITAL

ACADEMY

SCHOOL

SCHOOL

MIDDLE SCHOOL

MIDDLE SCHOOL

HIGH SCHOOL

SPORTS COMPLEX

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

110,519 VPD99,731

VPD

42,100 VPD

HUNTSVILLE CITY

CENTER

5This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

255

GOLF COURSE

62,580 VPD

ALT 72

565

UNIVERSITY OF

ALABAMATIER-1 RESEARCH UNIVERSITY

300 COMPANIES26,000+ EMPLOYEES

3,843 ACRES

5

Aerial

TargetPetcoRoss Dress for LessWalmart SupercenterLowe’s Home ImprovementPlanet FitnessMcDonald’sMarshall’s

PublixThe Home DepotPanera BreadRack Room ShoesProgress BankMadison HospitalCVSStaples

National Bank of CommerceGreat ClipsIHOPCineplanet 15 TheaterVerizonHardee’sDollar GeneralChick-fil-A


Submarket Overview

RETAILERS IN CLOSE PROXIMITY INCLUDE:

KEY 1-MILE 3-MILES 5-MILES 6

BUSINESS SUMMARYTOTAL 1-MILE 3-MILES 5-MILES

Businesses 250 988 2,611

Employees 3,146 9,481 2,611

Residential Population 5,091 43,403 97,491

HUNTSVILLE

MADISON

7

Subject Property

8

Surrounding Retail


CURRENT

PRO

POSE

D F

INA

NC

ING

/CA

SH F

LOW

PROPOSEDPrice: $11,412,000 Proposed Loan Amount $7,988,400Capitalization Rate: 6.53% Loan To Value 70%Price Per Square Foot: $344.19 Interest Rate 4.00%Down Payment 30% $3,423,600 Amortization 30 Year

Loan Amount 70% $7,988,400 Interest Only 2 yearsTotal Leased (SF): 100.00% 33,156 Term 10 Year

Total Vacant (SF): 0.00% 0 Net Operating Income $745,755

Total Rentable Area (SF): 100.00% 33,156 Debt Service (I/O) ($319,536)

INCOME (2020 BUDGET) P/SF Pre-Tax Cash Flow $426,219

Scheduled Rent $24.02 $796,482 Debt Coverage Ratio 2.33

Insurance Recovery $0.23 $7,708 Cash-on-cash Return (Year 1 I/O) 12.45%

Property Tax Recovery $1.43 $47,351 Cash-on-cash Return (Year 3 Amort) 8.78%

CAM Recovery $1.61 $53,270 Principal Pay Down (Year 3) $140,679

Admin Fee (15% of CAM) $0.24 $7,990

TOTAL REIMBURSEMENTS $116,319

EFFECTIVE GROSS INCOME $912,8015% vacancy factor (excludes nationals) ($20,820)

ADJUSTED GROSS INCOME $891,981

EXPENSE (2020 BUDGET) P/SFInsurance ($0.27) ($8,966)

Property Tax ($1.60) ($53,191)

CAM ($1.65) ($54,663)Management Fee ($0.77) ($25,429)Cap Ex Reserve ($0.12) ($3,979)

TOTAL OPERATING EXPENSES ($4.41) ($146,227)

NET OPERATING INCOME $745,755

9

Income & Expense


LEASE TERMS RENT SUMMARYTENANT SQ. FT. % OF GLA TERM MONTHLY RENT ANNUAL RENT RENT/FT CAM TAX INS

Mattress Firm 4,233 12.77% 12/01/13 11/31/2020 $10,565 $126,778 $29.95 $7,238.43 $6,434.16 $1,058.25

Option 1 12/01/20 11/31/2025 $11,482 $137,784 $32.55

Option 2 12/01/25 11/31/2030 $12,523 $150,272 $35.50

Dunkin Donuts 1,863 5.62% 12/01/13 11/31/2023 $4,192 $50,301 $27.00 $3,185.73 $2,831.76 $465.75

Option 1 12/01/23 11/31/2028 $4,735 $56,822 $30.50

Option 2 12/01/28 11/31/2033 $4,968 $59,616 $32.00

Option 3 12/01/33 11/31/2038 $5,356 $64,274 $34.50

Option 4 12/01/38 11/31/2043 $5,589 $67,068 $36.00

Taziki’s Mediterranean Café 3,048 9.19% 01/15/14 02/10/24 $6,875 $82,500 $27.07 $5,212.08 $4,632.96 $762.00

Option 2 02/11/24 02/10/29 $7,563 $90,750 $29.77

Option 3 02/11/29 02/10/34 $8,319 $99,825 $32.75

Nail Salon 2,166 6.53% 02/16/20 02/28/21 $3,249 $38,988 $18.00 $3,704 $3,292 $461.36

03/01/21 02/28/22 $3,314 $39,768 $18.36

03/01/22 02/28/23 $3,381 $40,569 $18.73

03/01/23 02/28/24 $3,448 $41,371 $19.10

03/01/24 02/28/25 $3,516 $42,194 $19.48

Terra Bacio Salon 2,810 8.48% 04/01/18 05/31/20 $4,278 $51,339 $18.27 $4,805.10 $4,271.20 $702.50

06/01/20 04/30/23 $4,341 $52,097 $18.54

Appleton Learning 1,630 4.92% 06/05/14 05/31/20 $3,627 $43,525 $26.70 $2,787.30 $2,477.60 $407.50

06/01/20 05/31/22 $3,694 $44,330 $27.20

Option 1 06/01/22 05/31/27 $3,963 $47,554 $29.17

Option 2 06/01/27 05/31/32 $4,232 $50,778 $31.15

Harklen Health & Wellness 1,538 4.64% 09/19/19 11/30/22 $2,307 $27,684 $17.00 $2,629.98 $2,337.76 $384.50

10

Rent Roll


LEASE TERMS RENT SUMMARYTENANT SQ. FT. % OF GLA TERM MONTHLY RENT ANNUAL RENT RENT/FT CAM TAX INS

MyEyeDr. Optometry 3,000 9.05% 10/24/14 10/31/22 $6,500 $78,000 $26.00 $5,130.00 $4,560.00 $750.00

Option 1 11/01/22 10/31/27 $6,833 $82,000 $27.33

Option 2 11/01/27 10/31/32 $7,000 $84,000 $28.00

Earth & Stone Wood Fire Grill 4,140 12.49% 07/15/17 07/14/21 $8,108 $97,290 $23.50 $7,079.40 $6,292.80 $1,035.00

07/15/21 07/14/24 $8,453 $101,430 $24.50

Jennifer Whitener Boutique 1,800 5.43% 05/01/14 04/30/21 $2,500 $30,000 $16.67 $3,078.00 $2,736.00 $450.00

GNC 1,203 3.63% 03/10/14 05/31/22 $2,750 $33,000 $27.43 $2,057.13 $1,828.56 $300.75

06/01/22 05/31/27 $3,400 $40,800 $33.92

Hollywood Feed 2,500 7.54% 05/01/15 11/30/20 $4,167 $50,000 $20.00 $4,275.00 $3,800.00 $625.00

Option 1 12/01/20 11/30/25 $4,792 $57,500 $23.00

The Dessert Fork 1,221 3.68% 11/01/18 10/31/19 $2,442 $29,304 $24.00 $2,087.91 $1,855.92 $305.25

11/01/19 10/31/23 $2,491 $29,890 $24.48

State of Alabama 2,004 6.04% 07/12/19 07/31/20 $3,718 $44,617 $22.26 Gross Lease

08/01/20 07/31/24 $3,823 $45,877 $22.89

OCCUPIED 33,156 100.00%TOTAL

CURRENT

$66,374 $796,482 $24.02 $53,269.92 $47,351.04 $7,707.86

VACANT 0 0.00%

CURRENT TOTALS 33,156 100.00%

11

Rent Roll

BASE RENT

DATE RANGE MONTHLY RENT ANNUAL RENT

12/01/13 - 11/31/2023 $4,192 $50,301

OPTION RENTS


#1. 12/01/23 - 11/31/2028 $4,735 $56,822#2. 12/01/28 - 11/31/2033 $4,968 $59,616#3. 12/01/33 - 11/31/2038 $5,356 $64,274#4. 12/01/38 - 11/31/2043 $5,589 $67,068

RENT

TENANT Southern Food Services, LLC dba Dunkin’ DonutsBUILDING SIZE 1,863 SFLEASE TYPE NetEXPIRATION 11/31/2023OPTIONS Four 5-year

PREMISES& TERM

TAXESTenant reimburses Landlord for its pro-rata share of real estate taxes.

TENANT’S OBLIGATIONSAll non-structural portions of the Premises, including the HVAC.

LANDLORD’S OBLIGATIONSRoof and structural portions of the Premises.

COMMON AREASLandlord shall operate and maintain the common areas of the shopping center, and Tenant shall reimburse for its pro-rata share of Operating Costs, plus a 10% Admin Fee of such Operating Costs (excluding taxes, utilities, and insurance).

CAM CAPNot to increase more than 5% from the previous lease year.INSURANCETenant shall maintain: (1) General liability insurance with limits no less than $2 million per person and per occurrence, and $1 million property damage; (2) and all-risk insurance.

Landlord shall maintain: (1) All-risk insurance; and (2) general liability insurance covering the common areas with limits no less than $2 million per occurrence. Tenant shall reimburse for its pro-rata share of Landlord’s insurance expenses.

UTILITIESTenant shall pay for its separately metered utilities directly to the appropriate billing authority.

ASSIGNMENT/SUBLETTINGTenant shall not assign or sublet without first obtaining Landlord approval, unless any subletting is to a wholly-owned subsidiary or parent corporation of Tenant, any similar affiliate, or to an authorized franchisee. Tenant is released from lease obligations if assignment is to an authorized assignee and has a net worth of at least $1.2 million.

ESTOPPEL CERTIFICATESLandlord and Tenant shall deliver an executed estoppel within 20 days of written request from the other party.

EXPENSES

LEASEPROVISIONS

The details contained within the Lease Abstract are provided as a courtesy to the recipient for purposes of evaluating the Property’s suitability. While every effort is made to accurately reflect the terms of the lease document(s), many of the items represented herein have been paraphrased, may have changed since the time of publication, or are potentially in error. Capital Pacific and its employees explicitly disclaim any responsibility for inaccuracies and it is the duty of the recipient to exercise an independent due diligence investigation in verifying all such information, including, but not limited to, the actual lease document(s).

12

Lease Abstract - Dunkin’ Donuts

BASE RENT


12/01/13 - 11/31/2020 $10,565 $126,778

OPTION RENTS


#1. 12/01/20 - 11/31/2025 $11,482 $137,784#2. 12/01/25 - 11/31/2030 $12,523 $150,272

RENT

TENANT Mattress Firm, Inc.GUARANTOR Mattress Holding CorpBUILDING SIZE 4,233 SFLEASE TYPE NetEXPIRATION 11/31/2020OPTIONS Two 5-year

PREMISES& TERM


TENANT’S OBLIGATIONSAll non-structural portions of the Premises, including the HVAC

LANDLORD’S OBLIGATIONSRoof and structural portions of the Premises

COMMON AREASLandlord shall operate and maintain the common areas of the shopping center, and Tenant shall reimburse for its pro-rata share of Operating Costs, plus a 10% Admin Fee of such Operating Costs (excluding taxes, utilities, and insurance)

CAM CAPNot to increase more than 5% from the previous lease year.

INSURANCE(1) General liability insurance with limits no less than $1 million per occurrence and $2 million in aggregate; (2) all-risk insurance; (3) and worker’s compensation insurance

Landlord shall maintain: (1) Special Perils property coverage; and (2) general liability insurance covering the common areas with limits no less than $1 million per occurrence and $2 million in aggregate. Tenant shall reimburse for its pro-rata share of Landlord’s insurance expenses

UTILITIESTenant pays directly.

ASSIGNMENT/SUBLETTINGTenant shall not assign or sublet without first obtaining Landlord approval, unless any subletting is to a Mattress Firm franchisee or related entity. Mattress Firm would remain liable for all lease obligations

ESTOPPEL CERTIFICATESLandlord and Tenant shall deliver an executed estoppel within 20 days of written request from the other party.

CO-TENANCYIf tenants occupying 40% or more of the GLA are closed for more than 180 consecutive days, then Tenant may pay 50% of the base rent. If condition isn’t satisfied for another 180 days, then Tenant may terminate or revert to paying full base rent.

EXPENSES

LEASEPROVISIONS


13

Lease Abstract - Mattress Firm

BASE RENT


01/15/14 - 02/10/24 $6,875 $82,500

OPTION RENTS


#2. 02/11/24 - 02/10/29 $7,563 $90,750#3. 02/11/29 - 02/10/34 $8,319 $99,825

RENT

TENANT Tazikis Huntsville, LLC dba Taziki’s Mediterranean Café BUILDING SIZE 3,048 SFLEASE TYPE NetEXPIRATION 2/10/24OPTIONS Two 5-year

PREMISES& TERM


TENANT’S OBLIGATIONSMaintenance and repair of all non-structural portions of the Premises, including the HVAC

LANDLORD’S OBLIGATIONSRoof and structural portions of the Premises

CAM CAPTenant’s share of Operating Costs shall not increase more than 5% from the previous lease year (exclusive of taxes, insurance, utilities, snow removal and restriping the parking areas)

COMMON AREALandlord shall operate and maintain the common areas of the shopping center, and Tenant shall reimburse for its pro-rata share of Operating Costs

INSURANCETenant shall maintain: (1) General liability insurance with limits no less than $2 million per person and per occurrence, and $1 million property damage; (2) and all-risk insurance.

Landlord shall maintain: (1) All-risk insurance; and (2) general liability insurance covering the common areas with limits no less than $2 million per occurrence. Tenant shall reimburse for its pro-rata share of Landlord’s insurance expenses.

UTILITIESTenant shall pay for its separately metered utilities directly to the appropriate billing authority

ASSIGNMENT/SUBLETTINGTenant shall not assign or sublet without first obtaining Landlord approval

ESTOPPEL CERTIFICATESTenant shall deliver a signed estoppel to Landlord within 10 days of written request.


EXPENSES

LEASEPROVISIONS

14

Lease Abstract - Taziki’s

BROOKRIDGE DRIVE

LEE HIG

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72

72

72

MONUMENT SIGN

MONUMENT SIGN

ENTRANCE FOR THE SHOPPES OF MADISON

NAIL SALON

BALCH ROAD

LEE HIG

HW

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BALCH ROAD

MADISON HOSPITAL

33,690 VPD

Site Plan

15This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

195SPACES

33,156RENTABLE SF

3.97ACRES

MEDICAL PARK

STATION

HARKLEN HEALTH & WELLNESS

STATE OF ALABAMA

15

Site Plan

16

BROOKRIDGE DRIVE

MADISON HOSPITAL

LEE HIGHWAY

72

72

THE SHOPPES OF MADISON

NOT A PART


16

Surrounding Retail Site Plan

33,690 VPD

72


Founded in 1986, Houston-based Mattress Firm is the nation’s first and only border-to-border, coast-to-coast specialty bedding retailer. With over 2,500 stores across 49 states, Mattress Firm is the nation’s largest multi-brand mattress retailer. Mattress Firm offers conventional mattresses, specialty mattresses, and bedding related accessories (bed frames, mattress pads, pillows). The stores carry a broad assortment of national mattress brands and exclusive brands. Company revenues are over $2.55 billion.

MATTRESS FIRM

Dunkin’ is the world’s leading baked goods and coffee chain, serving more than 3 million customers each and every day. They offer 50+ varieties of donuts, but you can also enjoy dozens of premium beverages, bagels, breakfast sandwiches and other baked goods. They have more than 11,300 Dunkin’ restaurants worldwide – that’s over 8,500 restaurants in 41 states across the U.S.A. and over 3,200 international restaurants across 36 countries. Dunkin’ Donuts is owned by Dunkin’ Brands Group, Inc., which operates Baskin Robbins as well. Dunkin Brands Group, Inc. reported a revenue of $1.32 billion in 2018.

DUNKIN’ DONUTS


2018 TOTAL REVENUE$1.32B

17

Tenant Overview

Hollywood Feed is a boutique style pet store that specializes in pet accessories that include collars, feeders, crates and kennels, beds, pet apparel, supplements, dog stairs, toys, and travel gear. Their products are unique and trendy and come at affordable prices. They currently operate 102 locations in the United States.

J Whitener Boutique is a small boutique offering fashion apparel aimed at women and girls ages 15 – 27. They currently have two stores, one in Huntsville and one in Madison.

MyEyeDr. practices provide extensive eye care services from a team of personable and professional eye doctors at local, community optometry offices MyEyeDr. has over 500 locations across 21 states and the District of Columbia. Each location overs eye exams, designer frames and prescription contact lenses at prices for every budget.

HOLLYWOOD FEED

J. WHITENER BOUTIQUE

MYEYEDR.

Taziki’s is a fast-casual chain of franchised restaurants based in Birmingham, Alabama. They offer an array of foods such as grilled meats, vegetarian dishes and salads. Some locations have gluten-free options, and none have deep-fried foods. The franchise is the first in the United States to earn REAL certification from the United States Healthful Food Council. The certification is awarded to restaurants that serve vegetables, fruits, and whole grains and prepared their food from scratch. They have grown to nearly 100 stores across 16 states with concentration in the southeast (Birmingham, Little Rock, Nashville and Atlanta) and plan to continue expanding into the Midwest and West.

Ngenius Tutoring and Test Prep is a professional tutoring company offering one-on-one tutoring in math, science, social studies, and English. Their tutoring services accommodate students from kindergarten all the way through college level. They offer monthly 4, 8, and 12-hour plans and can meet their trainer at the Madison location. They also offer a variety of test prep courses for the ACT and SAT. Ngenius Tutoring and Test Prep has 3 locations with two in Alabama and one in Tennessee.

TAZIKI’S MEDITERRANEAN CAFÉ

NGENIUS


Top Nails & Spa is a nail salon offering trendy, fashion-forward nail designs. Customers can choose from any of their services such as gel manicures, pedicures, traditional manicures, and nail art.

TOP NAILS & SPA

18

Tenant Mix

Earth and Stone Wood Fired Pizza was started in May 2013 as a mobile pizza vendor and caterer. Due to it’s popularity at farmer’s markets, food truck rallies, private catering, sporting events, and festivals, Earth and Stone has since opened two restaurant locations.

The menu consists of wood fired pizzas and small plate appetizers, as well as salads, beer and wine. Additionally, house-made ice cream under the brand Campus Creamery offers unique and delicious flavors.

The Dessert Fork is a dessert café that provides a variety of made-from-scratch desserts available for dine-in or take home.The bakery-cafe also provides custom cakes for weddings, birthdays or other celebrations.

EARTH AND STONE WOOD FIRED PIZZA

THE DESSERT FORK

The Alabama Army National Guard is a component of the United States Army and the United States National Guard. National coordination of various state National Guard units are maintained through the National Guard Bureau. Alabama Army National Guard units are trained and equipped as part of the United States Army. The Alabama Army National Guard has recruitment offices throughout the state.

ALABAMA ARMY NATIONAL GUARD RECRUITMENT OFFICE


General Nutrition Corporation (GNC) is a chain of stores focused on the retail sale of health and nutrition related products including vitamins, supplements, minerals, herbs, sports nutrition, diet, and energy supplements. GNC has more than 8,800 locations, of which more than 6,500 retail locations are in the United States (including 1,063 franchise and 2,258 Rite Aid franchise store-within-a-store locations) and franchise operations in more than 50 countries. In 2018, GNC saw revenues of $2.53 billion.

GNC

Terra Bacio Salon Spa, with two locations, is the only AVEDA Lifestyle salon and day spa in north Alabama. Salon staff are highly trained, specializing in cuts, color, relaxation and wellness techniques.

TERRA BACIO SALONThe Harken Health plan is a unique, boutique-style health plan offered by UnitedHealth. Health plan features include unlimited primary care visits at no charge; access to health professionals via phone, email, text, and video chat, prescription drug coverage; and mental health classes. The healthcare team includes a mix of behavior specialists, membership assistants, and health coaches. The Harken network consists of 850,000 physicians and 6,100 healthcare facilities that together serve over 35,000 people.

HARKEN HEALTH & WELLNESS

19

Tenant Mix

POPULATION

1-MILE 3-MILES 5-MILES

2010 4,974 37,914 83,417

2019 5,091 43,403 97,491

2024 5,530 46,196 104,912

2019 HH INCOME

1-MILE 3-MILES 5-MILES

Average $125,485 $118,904 $108,219

Median $109,114 $103,402 $90,418

TOP EMPLOYERS

EMPLOYER # OF EMPLOYEES

U.S. Army/Redstone Arsenal 37,000

Huntsville Hospital System 9,228

NASA/Marshall Space Flight Center 6,500

Huntsville City Schools 3,000

The Boeing Company 2,900

MADISONHUNTSVILLE (11 MILES)

THE AVERAGE HOUSEHOLD INCOME WITHIN A 3-MILE RADIUS

IS OVER $118K


ATHENS

DECATUR

ALABAMATENNESSEE

20

Demographics

MADISON, ALABAMA

MADISON is a city located in Madison County, near the northern border of the State of Alabama. The city is included in the Huntsville Metropolitan Area, the second-largest MSA in Alabama.

Thousands of Madison residents commute to jobs at Cummings Research Park and Redstone Arsenal in nearby Huntsville. The high-tech and academic positions in the area have attracted numerous highly educated residents. Within the city limits, most of Madison’s businesses are retail, with stores and fast-food restaurants lining US-72 to the north and Madison Boulevard to the south. The Huntsville/Madison County community is Northern Alabama’s economic driver, with a growing 13-county regional population of over 1 million people.

HUNTSVILLE’S MAIN ECONOMIC INFLUENCE is derived from aerospace and military technology. Huntsville has the second largest technology and research park in the nation, ranks among the top 25 most educated cities in the nation, and is considered in the top of the nation’s high-tech hotspots.

Recently, Mazda Motor Corporation and Toyota Motor Corporation established a joint-venture company that is in the process of building a $1.6 billion manufacturing facility. The new plant will create up to 4,000 jobs and will ultimately produce 150,000 Mazda crossover vehicles and 150,000 Toyota Corollas each year.

450,000+HUNTSVILLE MSA POPULATION (ESTIMATED) This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed

or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

HUNTSVILLE

21

Location Overview

HUNTSVILLE, known for its aerospace presence, and has enjoyed high levels of growth over the past two decades which has attracted new industries into the market. From 2000-2017, the metro area has experienced a 32% growth in employment along with a wage growth that has increased at nearly twice the rate of the U.S. during that time. Huntsville has one of the highest concentrations per capita of degreed engineers in the country, and boasts an unemployment rate of 2.1%. Companies such as Boeing, Aerojet Rocketdyne and Lockheed Martin have been expanding their presence in the market, while companies from other industries such as Polaris have entered the community (spent $190 million in 2016 to open an assembly plant). Low labor costs and favorable tax rates are attracting new businesses to invest in this area, which is evident by Huntsville’s impressive economic prosperity.

CLICK HERE FOR MORE INFORMATION

HUNTSVILLE’S CREDIT RATING

HUNTSVILLE’S CURRENT UNEMPLOYMENT RATE

AEROSPACE COMPANIES WITHIN THE HUNTSVILLE MARKET

METRO AREA EMPLOYMENT GROWTH FROM 2000-2017

2.1%

AAA

400

32%

DAVIDSON CENTER FOR SPACE EXPLORATION HUNTSVILLE, AL

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 22

Rocket City USA

https://www.cnbc.com/2019/11/12/economic-case-study-huntsville-capitalizes-on-rocket-city-roots.html

https://www.cnbc.com/2019/11/12/economic-case-study-huntsville-capitalizes-on-rocket-city-roots.html

CLIFT FARM, located directly across Highway 72 from the Medical Park Station, is a multi-phase mixed-use development that encompasses over 550 acres of land. Previously a family run farm for over 200 years, Clift Farm will feature over 470 acres of residential neighborhoods with walking trails and other outdoor amenities as well as 60-80 acres of land dedicated to retail and multi-family apartment buildings. The retail component of the Clift Farm development, part of which is set to open in Spring 2020, will be positioned towards the front of the project along Highway 72, and will feature a Publix anchored shopping center.

CLICK HERE FOR MORE INFORMATION

CLIFT FARMCLIFT FARMDEVELOPMENT SITEDEVELOPMENT SITE

SUBJECT PROPERTYSUBJECT PROPERTY

400,000SQFT RETAIL SPACE

350,000SQFT OFFICE SPACE

1,415RESIDENTIAL UNITS

550 TOTAL ACRES


Adjacent Mixed-Use Development - Clift Farm

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https://whnt.com/2019/05/07/clift-farm-set-for-multi-million-dollar-development/


MAZDA-TOYOTA PLANT

HUNTSVILLE

2,000TOTAL ACRES

4,000+NEW JOBS


300,000VEHICLES PRODUCED ANNUALLY

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Mazda and Toyota Joint Venture in Huntsville

MAZDA AND TOYOTA recently joined forces to form a joint-venture called Mazda Toyota Manufacturing, U.S.A., and are in the process of constructing a manufacturing plant located in the neighboring town of Huntsville. Mazda and Toyota were drawn to Huntsville due to its reputation for having a thriving aerospace and military industry with several Fortune 500 companies in the metropolitan area.

Set to begin production in 2021, the new $1.6 billion Mazda-Toyota joint assembly plant will produce a combined 300,000 vehicles annually between the two auto makers, to be split evenly, and is expected to create upwards of 4,000 new jobs. Mazda-Toyota has already started taking applications, and the facility will ultimately add $8.6 billion in new payroll.


ZEB [email protected]: 415.274.2702CA DRE# 01242540


JACK [email protected]: 415.274.2705

CA DRE# 01909630

IN CONJUNCTION WITH AL LICENSED BROKER: Beau J. [email protected] LIC.# 000091221

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