net lease property for sale
DESCRIPTION
net lease property for saleTRANSCRIPT
NET LEASED INVESTMENT OFFERING
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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
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TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
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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
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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
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SITE
SITE
MAPS
MAPS
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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
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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
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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
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666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION