oerin memorandum - loopnetimages3.loopnet.com/d2/tltevjxok69q3veqrgceg7...the information contained...

OFFERING MEMORANDUM

815 SOUTH DOBSON ROADMESA, ARIZONA 85202

INVESTMENT OVERVIEWProperty Summary

Pricing Overview

7-Eleven Overview

7-Eleven Lease Summary

MARKET OVERVIEWArea Synopsis

Local Attractions

Demographics

Site Aerial

Phoenix Map

Surrounding Retail

PROPERTY OVERVIEW

EXPERIENCEIN ACTIONAdvisors Advantage

Company Profile

Nationwide Network

Managing [email protected]

Jason FessingerSenior Vice President602.910.6486kalen [email protected]

Kalen Rickard

Executive Vice President of [email protected]

Mark Jensen

TABLE OF CONTENTS:

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from CBC Advisors and it should not be made available to any other person or entity without the written consent of CBC Advisors. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy, duplicate, or otherwise replicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to CBC Advisors or permanently delete from your records.

This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not substitute for a through due diligence investigation. CBC Advisors has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and the square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulation, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant’s plans or intentions to contribute its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, CBC Advisors has not verified, and will not verify, any of the information contained herein, nor has CBC Advisors conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers MUST take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigation the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE CBC ADVISROS AGENT FOR MORE DETAILS.

EXCLUSIVELY MARKETED BY:

2398 E. CAMELBACK ROADSUITE 520PHOENIX, ARIZONA 85018602.884.8345WWW.CBCADVISORS.COM

Executive SummaryInvestment Highlights

INVESTMENTOVERVIEW

SECTION 01

4815 SOUTH DOBSON ROAD | MESA, ARIZONA 85202 //

PROPERTY SUMMARYThe subject property is a NNN 7-Eleven building located on a 20,430 square foot parcel on Dobson Road and 8th Avenue in Mesa, Arizona. The parcel features a 2,880 square foot convenience store building on the hard Southeast corner of the lighted intersection. The parcel is strategically located on Dobson Road, just ½ mile north of the Banner Desert Medical Center and Mesa Community College and Mesa’s Fiesta District.

The trade area features the only intersection in Maricopa County with both a major hospital and a university at the same intersection. Neighboring tenants in the trade area include AutoZone, Family Dollar, Starbucks, McDonald’s, Taco Bell, Village Inn, Pita Jungle, Jack in the Box, Jimmy John’s and many more. Several projects in the trade zone have been slated for redevelopment including Fiesta Mall and Mesa Financial Plaza. The convenience store services the neighboring Budget Suites of America, as well as the apartment complexes within walking distance including the Villetta Apartments, Sorrento Apartments, Del Coronado Apartments, Bridgewood Townhomes Continental Townhouses, Skyview Mesa and many others.

Dobson Road carries strong traffic counts with 33,400 cars per day. The trade area is extremely dense with 397,889 people in a five-mile radius of the site, which is expected to reach nearly 430,000 in the next five years as several new multi-family projects fill in the area. Dobson Road is also projected to be the site of the next light rail extension in Mesa connecting the light rail along Main Street to the Fiesta District and eventually to downtown Chandler.

7-Eleven recently extended their lease on the property for an additional 10 years of term. The lease features 12.5% increases to the rent every five years, including each of the two, five-year options on the lease showing a strong long-term commitment from the operator to the site.

PROPERTY SPECS AND HIGHLIGHTS

• 2,880 SF Building, 20,430 SF Parcel

• Dense Infill Gentrifying Trade Area with over 397,000 people in a five-mile radius.

• Strong Traffic counts along Dobson Road of 33,400 cars per day.

• Long-term tenancy at the site with a recent 10 year re-commitment to the location.


PROPERTY SUMMARYPRICING OVERVIEW:Price $2,025,000Cap Rate 4.75%Rent Schedule Year 1-5 -- $96,144.00

Year 6-10 -- $108,156.00Tenant Credit AA- (S&P)

7-ELEVEN LEASE SUMMARY:Tenant Trade Name 7-ElevenLease Term 10 YearsLease Type NNN Ground LeaseRoof & Structure Responsibility

Tenant Responsibility

Commencement Date February 1st, 2017Projected Expiration Date

January 31st, 2027

Increases Twelve Percent (12%) increases every Five (5) years

Renewal Options Two (2) Five (5) Year Options with One Hundred Eight (180) day notice – Twelve Percent (12%) increases

7-ELEVEN OVERVIEW:Gross Leasable Area 2,880 square feetLot Size 20,430 square feetParcel # 134-27-292CYear Built 1985Current NOI $96,144 per annum

Site AerialPhoenix Map

Surrounding Retail

PROPERTYOVERVIEW

SECTION 02


SITE AERIAL

W. 8th Avenue

S. Dobson Road


PHOENIX MAP


SURROUNDING RETAIL

W. Broadway Rd.

S. D

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S. L

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S. A

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Scho

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S. E

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W. Broadway Rd.

E. Southern Ave.E. Southern Ave.

W. 8th Ave.

Fiesta Mall

Broadway 101 Commerce Park

Stardust Building Supplies

Future Multi-Family

595 Beds 25,960 Students

SUBJECT

Area SynopsisLocal Attractions

Demographics

MARKETOVERVIEW

SECTION 03


AREA SYNOPSISArizona is a strong strategic location for real estate investment in the country. The proximity to the western coastal cities, as well as the intermountain west, and Texas provide a terrific opportunity for investors facing diminishing returns on investments, to capitalize on greater initial returns as well as long-term growth of the greater market.

The Phoenix Metropolitan Area, often referred to as the Valley of the Sun or Metro Phoenix, currently has over 4.5m residents, making it the 12th largest metropolitan area in the country by population. Metro Phoenix is the financial, commercial, cultural, entertainment, governmental and locational center of Arizona. Phoenix is the fastest growing major metropolitan area in the United States, gaining nearly 400,000 residents between 2010 and 2015, and more than 1.3m since 2000. Phoenix has a strong tourism industry with approximately 10 million annual visits from other states and Canada each year due to the area’s mild winters and long, sunny days.

Phoenix is home to Fortune 1000 companies including Avnet, PetSmart, Insight Technologies, Sprouts. In addition, there is a prominent presence from Banner Health, American Airlines, Intel, Boeing to name a few. Many technology companies have either relocated corporate headquarters from California or other MSA’s or have added large tertiary offices, earning Phoenix the nickname of the Silicon Desert. Uber, Yelp, Zenefits, and GoDaddy are a few companies with a prominent presence in the Phoenix MSA.

Phoenix generally provides a lower cost alternative to metropolitan areas in California, Texas and other west coast metropolises in terms of overall cost of living, providing interesting expansion opportunities for many companies. Phoenix is a well-planned transportation city, strategically located along the Interstate 10 highway, and providing easy access from the major employment hubs to the remainder of the market.

Mesa, Arizona is a suburb located in to the East of Phoenix and currently the third largest city in Arizona, after Phoenix and Tucson. The city is home to 439,041 people. Major employers located in Mesa include Banner Health, Boeing, Walmart, and Mesa Community College. Mesa is the spring training home of the Chicago Cubs and Oakland Athletics, drawing many visitors every year to watch their teams prepare for the upcoming season.

The site is in close proximity to Mesa Community College, Banner Desert Medical Center and the Fiesta District.


LOCAL ATTRACTIONSBanner Desert Medical Center

Banner Desert Medical Center, located ½ mile from the site, is a general medical and surgical hospital with 595 beds formerly named Desert Samaritan Hospital. The Hospital employs approximately 2,850 people. The emergency room sees over 140,000 patients per year, while the hospital sees almost 32,000 admissions per year. There are over 21,000 surgeries performed per year at Banner Desert Medical Center. Banner Desert went through a $10.2m renovation in 2012.

Mesa Community College

Mesa Community College, MCC, is the largest of 10 community colleges in the Maricopa County Community College District, which is the largest community college district in the United States in terms of total enrollment. MCC currently enrolls 25,960 students and has 1,530 faculty and staff.

Fiesta District

Encompassing 1.15 square miles, the Fiesta District is reemerging as one of Mesa’s important business districts featuring cutting-edge industry clusters, skilled workforce, easy market access, extensive infrastructure and ample executive hotel accommodations. Over the last several years, the area has seen or is in the midst of more than $493 million of redevelopment efforts. With new Class A office space coming online and strategic redevelopment and adaptive-reuse opportunities available, the district is ripe for business locations and expansion.

Source: http://www.mesaaz.gov/business/economic-development/business-districts-maps/fiesta-district

1316100 N. ARROWHEAD FOUNTAINS CENTER DRIVE | PEORIA, ARIZONA //

DEMOGRAPHICSSite Details Map815 S Dobson Rd, Mesa, Arizona, 85202 Site Details MapRings: 1, 3, 5 mile radii Latitude: 33.40003

Longitude: -111.87456

This site is located in:City: Mesa

County: Maricopa County

State: Arizona

ZIP Code: 85202

Census Tract: 04013422103Census Block Group: 040134221032

CBSA: Phoenix-Mesa-Scottsdale, AZ Metropolitan Statistical Area

November 20, 2017

©2017 Esri Page 1 of 1

POPULATION 1 Mi Radius 3 Mi Radius 5 Mi Radius

Estimated Population (2017) 25,208 169,553 398,093

Projected Population (2022) 27,071 185,056 429,084

Census Population (2010) 23,555 149,799 359,655

Projected Annual Growth (2017 to 2022) 1.44% 1.77% 1.51%

Median Age 30.2 30.6 30.7

HOUSEHOLDS

Estimated Households (2017) 10,821 68,428 153,344

Projected Households (2022) 11,630 74,689 165,555

Census Households (2010) 10,130 149,799 359,655

INCOME

Estimated Average Household Income (2017) $42,902 $54,491 $59,753

Estimated Median Household Income (2017) $31,949 $39,937 $44,539

Estimated Per Capita Income (2017) $18,685 $22,353 $23,548

Projected Average Household Income (2022) $48,262 $61,508 $67,319

Projected Median Household Income (2022) $33,948 $43,508 $67,319

Projected Per Capita Income (2017) $20,991 $25,162 $26,466

Advisors AdvantageCompany Profile

Nationwide Network

EXPERIENCEIN ACTION

SECTION 04

ADVISORS ADVANTAGE

“Our clients have come to appreciate the fact that Coldwell Banker Commercial Advisors truly acts as a fiduciary, developing and utilizing proprietary intelligence and insight to deliver the most powerful long-term results”Lew Cramer President / CEO, Coldwell Banker Commercial Advisors Director, World Trade Centers Association

SIGNIFICANT STATISTICSUtilizing the most technologically advanced management tools and platform, Coldwell Banker Commercial Advisors employs a results oriented approach - delivering enhanced value and unequaled accountability.

With full service operations established in 1996, Coldwell Banker Commercial Advisors is the largest commercial brokerage firm in the Coldwell Banker organization, and the top-performing Coldwell Banker Commercial affiliate globally, for 14 years running.

Our market leading approach is further strengthened by aligning a global network of elite professionals with the industry’s most significant players locally, regionally, and nationally.

GROWTHOVER THE LAST 5 YEARS

362% 50IN WHICH DEALS HAVE

BEEN CLOSED

STATES 1#

GLOBALLY SINCE 2003OPERATION

30FROM COAST TO COAST

OFFICES500+NATIONWIDE INCLUDING

BROKERS & STAFF

ADVISORS

Advisors Stats

Coldwell Banker Commercial Stats

10RANKED AMONG THE TOP

COMMERCIAL REAL ESTATEBRANDS’ WORLDWIDE

TOP

COUNTRIES46

WITH A COLDWELL BANKERCOMMERCIAL PRESENCE

155GLOBALLY

COMPANIES TRANSACTIONSNUMBER OF DEALS CLOSED IN 2016

14,000BILLION

TRANSACTION VOLUME 2016

9.1$

10WITH

ADVISORS OFFICES

STATES14

AS THE GLOBALBRAND LEADER

YEARS BILLIONTRANSACTION VOLUME

2016

4.53$MILLION

SQUARE FEETUNDER MANAGEMENT

24+GROWTHOVER THE LAST 5 YEARS


BEEN CLOSED

STATES 1#




BROKERS & STAFF

ADVISORS

Advisors Stats




TOP

COUNTRIES46


155GLOBALLY


14,000BILLION


9.1$

10WITH

ADVISORS OFFICES

STATES14



2016

4.53$MILLION


24+



BEEN CLOSED

STATES 1#




BROKERS & STAFF

ADVISORS

Advisors Stats




TOP

COUNTRIES46


155GLOBALLY


14,000BILLION


9.1$

10WITH

ADVISORS OFFICES

STATES14



2016

4.53$MILLION


24+

COLDWELL BANKER COMMERCIAL ADVISORSAs the largest Coldwell Banker Commercial affiliate in the world, Advisors now operates 30 offices coast to coast.

Recognized as the fastest growing mid-sized commercial real estate brokerage in the nation, Coldwell Banker Commercial Advisors has established a powerful national platform in primary and dynamic secondary markets across the United States.

The firm’s expanded market presence boasts major office locations from New York City to Los Angeles, including the #1 commercial operation in the Intermountain West.

“Coldwell Banker Commercial Advisors is leading the 110 year old brand as its largest affiliate and restoring the vision of industry pioneers Colbert Coldwell and Benjamin Banker,” stated Brandon Fugal, Chairman of Coldwell Banker Commercial Advisors.

“We are redefining the commercial real estate business with the most advanced tools and resources in the market,” said Lew Cramer, President and CEO of Coldwell Banker Commercial Advisors. “By harnessing the talent and capability of both organizations we will deliver the most effective solutions as a trusted advisor to clients on a local, national and international basis.”

Coldwell Banker Commercial Advisors employs the most innovative brokerage platform built on an agent-centric approach. This includes tools and resources ranging from private aviation and upscale office culture, to institutional-grade asset services and proprietary market intelligence.

Coldwell Banker Commercial Advisors is truly a full service commercial real estate firm, representing world class office, retail and industrial projects in addition to offering institutional grade asset services nationwide.

SIGNIFICANT STATISTICS



BEEN CLOSED

STATES 1#




BROKERS & STAFF

ADVISORS

Advisors Stats




TOP

COUNTRIES46


155GLOBALLY


14,000BILLION


9.1$

10WITH

ADVISORS OFFICES

STATES14



2016

4.53$MILLION


24+

NATIONWIDE NETWORKADVANCING A NATIONAL PLATFORMOffering the ability to effectively service clients in both primary and dynamic secondary markets, Coldwell Banker Commercial Advisors has established a network that leverages a technologically advanced platform and system -- delivering the highest level of professionalism and consistency across a broad spectrum of disciplines and assignments. Coldwell Banker Commercial Advisors provides proprietary market intelligence and depth of resources and is also the only commercial real estate firm that utilizes private aviation for national site selection and strategic client initiatives.

■ Anchorage, AK

■ Flagstaff, AZ

■ Phoenix, AZ

■ El Segundo, CA

■ Glendale, CA

■ Irvine, CA

■ Los Angeles, CA

■ Newark, CA

■ Ontario, CA

■ Sacramento, CA

■ San Diego, CA

■ San Jose, CA

■ Temecula, CA

■ Watsonville, CA

■ Woodland Hills, CA

■ Denver, CO

■ Boise, ID

■ Idaho Falls, ID

■ Pocatello, ID

■ Las Vegas, NV

■ Reno/Sparks, NV

■ New York, NY

■ Hasbrouck Heights, NJ

■ Dallas, TX

■ Ft. Worth, TX

■ Houston, TX

■ American Fork, UT

■ Downtown SLC, UT

■ Salt Lake City, UT

■ Saint George, UTColdwell Banker Commercial LocationsAdvisors Locations

Executive Vice President of [email protected]

Mark JensenSenior Vice President602.910.6486kalen [email protected]

Kalen RickardManaging [email protected]

Jason Fessinger

PHOENIX, ARIZONA2398 E. CAMELBACK ROADSUITE 520PHOENIX, AZ 85018602.884.8345 www.cbcadvisors.com

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