rochester plaza 1.30 - loopnet€¦ · tenant profile rochester plaza 23 long john silver's...

ROCHESTER PLAZA750 Ohio River Blvd • Rochester, PA 15074

Offering Memorandum

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N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap andshould not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverifiedinformation to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, thefuture projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's orasbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or anytenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these mattersand 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 ofthe information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or nameis not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, orcommercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

ROCHESTER PLAZARochester, PAACT ID Z0320535

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TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01Offering Summary

Location Overview

Regional Map

Local Map

Aerial Photo

Site Plan

FINANCIAL ANALYSIS 02Tenant Summary

Lease Expiration Chart

Operating Statement

Notes

Pricing Detail

Acquisition Financing

MARKET OVERVIEW 03Demographic Analysis

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INVESTMENT

OVERVIEW

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EXECUTIVE SUMMARYOFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

US Dept of Air Force 1,100

Giant Eagle 865

Friendship Bridge 700

Nova Chemicals Inc 674

Friendship Ridge 600

County of Beaver 593

Phoenix Glass Co The 550

Baden Area Health Care 485

Eaton Corporation 400

Tmk-Ipsco 370

Community College Beaver Cnty 363

Heart 2 Heart Home Care 350

DEMOGRAPHICS

1-Miles 5-Miles 7.5-Miles

2017 Estimate Pop 7,050 67,522 125,488

2010 Census Pop 7,062 67,735 124,964

2017 Estimate HH 3,136 28,346 51,892

2010 Census HH 3,154 28,548 51,954

Median HH Income $42,237 $50,979 $53,718

Per Capita Income $22,901 $27,379 $29,062

Average HH Income $50,815 $64,498 $69,554

VITAL DATAYEAR 1 YEAR 2

Price $6,250,000 CAP Rate 9.51% 9.53%

Loan Amount $4,375,000 Net Operating Income $594,084 $595,584

Loan Type Proposed New Net Cash Flow After Debt Service 14.49% / $271,688 14.57% / $273,188

Interest Rate / Amortization 5.50% / 25 Years Total Return 18.96% / $355,552 19.30% / $361,782

Gross Leasable Area (GLA) 120,962 SF

Price/SF $51.67

Current Occupancy 98.84%

Year Built / Renovated 1960 / 1988

Lot Size 15.14 acre(s)

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MAJOR TENANTSTENANT GLA LEASE EXPIRATION LEASE TYPE

Shop n Save 50,000 1/31/2025 NNN

Big Lots 30,000 1/31/2024 NNN

Goodwill 17,000 9/30/2027 NNN

ROCHESTER PLAZA

OFFERING SUMMARY

120,962-Square Foot Grocery Center in Rochester, PA (Part of the Pittsburgh MSA)

Located Along Busy Route 65 Providing Easy Access

The Center is Anchored by Shop 'n' Save and Big Lots

Excellent Cash Flow from a Stabilized Grocery-Anchored Center

INVESTMENT HIGHLIGHTS

Marcus & Millichap is excited to exclusively represent ownership in their disposition of Rochester Plaza - a 120,962-square foot grocery anchored center in Rochester, PA -part of the Pittsburgh MSA. Rochester Plaza is conveniently located along busy Route 65 providing easy access from communities well beyond the "neighborhood" anddraws customers from the northeast quadrant of Beaver County.

The center is anchored by an 80,000 square foot building that is home to a 50,000 square foot franchisee-run Shop 'n' Save and a 30,000 square foot Big Lots. The rest ofthe center contains a refurbished Goodwill, a long-tenured Brighton Hot Dog, and a recently added PA Liquor Control Board store. There are also outlots with a Auto Zoneand a Long John Silver's A&W as well as a vacant former Hollywood Video.

The $6 billion Shell ethane cracker plant, announced in June 2016, has begun to take shape with the construction of four processing units: an ethane cracker and threepolyethylene units. The cracker alone will consist of more than 200 major components and 95 miles of pipe, according to the release, while a 900-foot cooling tower, rail-and truck-loading facilities, water treatment plant, office building, laboratory and 250-megawatt natural gas fired power plant are also a part of future construction. About 920union tradesmen are working on site at the cracker now, expected to rise to 1,000 by the end of the year, and hit a peak of 6,000 around mid-2019 before the plant isoperational early in the next decade. The plant is expected to create 600 permanent jobs.

Rochester Plaza allows a savvy investor to achieve excellent cash flow from a stabilized grocery-anchored center in an area with an influx of construction workers andeventual full-time employees at the Shell Cracker plant. The center offers shoppers an alternative to the Giant Eagle centers that Rochester Plaza sits between on Route65.

INVESTMENT OVERVIEW

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ROCHESTER PLAZA

PROPERTY SUMMARYOFFERING SUMMARY

PROPOSED FINANCINGFirst Trust DeedLoan Amount $4,375,000Loan Type Proposed NewInterest Rate 5.50%Amortization 25 YearsLoan Term 5 YearsLoan to Value 70%Debt Coverage Ratio 1.84

THE OFFERINGProperty Rochester PlazaPrice $6,250,000Property Address 750 Ohio River Blvd, Rochester, PA

SITE DESCRIPTIONYear Built/Renovated 1960Gross Leasable Area 120,962 SFOwnership Fee SimpleLot Size 15.14 acre(s)

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LOCATION OVERVIEW

CLOSE PROXIMITY TO:

750 Ohio River Blvd, Rochester, PA 15074

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMEROCHESTER PLAZA

PRICING AND VALUATION MATRIX


LOCATION OVERVIEW

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REGIONAL MAP

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LOCAL MAP

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AERIAL PHOTO

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Marcus & Millichap closes

more transactions than any other

brokerage firm.

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PROPERTY PHOTO

SITE PLAN

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FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS

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TENANT SUMMARY

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TENANT SUMMARYFINANCIAL ANALYSIS

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FINANCIAL ANALYSIS

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OPERATING STATEMENT

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FINANCIAL ANALYSIS

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PRICING DETAIL

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TENANT SUMMARY

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Fiscal Year Ended February 03, 2018

Big Lots, Inc.CREDIT RATING: B1 www.fdreports.com | www.creditntell.com | November 03, 2018

One of North America's largest broadline closeout retailers, Big Lots operates more than 1,400

stores across the US. It sells a variety of brand-name products -- including food and other

consumables, furniture, housewares and decor, seasonal items, and toys -- that have been

overproduced, returned, discontinued, or liquidated. Furniture represents the company's largest

product line, accounting for nearly a quarter of sales. Big Lots also has e-commerce operations

and offers products via its website, including some items only available online.





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TENANT SUMMARY

General Information

Address 4900 E. Dublin - Granville Road , Columbus, Ohio, 43081, United States

Phone 614-278-6800Website www.biglots.com

Store BaseStore Count 1,415TTM Sales $5,286,783,000

Key PersonnelCFO & EVP Timothy A. JohnsonChief Operating Officer & President & CEO Bruce Thorn

Chairman James Chambers

Financial MarketsStock Ticker BIGCurrent Price $31.15 as of 1/30/1952 Week High/Low $62.31 / $26.21

TENANT SUMMARY

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Fiscal Year Ended August 25, 2018

AutoZone, Inc.CREDIT RATING: B1 www.fdreports.com | www.creditntell.com | November 17, 2018

With about 5,500 stores in the US and Puerto Rico, AutoZone is one of the nation's leading auto

parts chains. It also has more than 500 stores in Mexico and about a dozen in Brazil and

operates some two dozen Interamerican Motor Corporation (parts distribution) branches in the

US. AutoZone stores sell hard parts (alternators, engines, batteries), maintenance items (oil,

antifreeze), accessories (car stereos, floor mats), and non-automotive merchandise under brand

names and private labels. AutoZone's commercial sales program distributes parts and other

products to garages, dealerships, and other businesses.





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TENANT SUMMARY

General Information

Address 123 South Front Street , Memphis, Tennessee, 38103, United States

Phone 901-495-6500Website www.autozone.com

Store BaseStore Count 6,218TTM Sales $11,273,679,000

Key PersonnelCFO & EVP William T. GilesChairman, CEO & President William C. Rhodes III

Financial MarketsStock Ticker AZOCurrent Price $842.77 as of 1/30/1952 Week High/Low $896.03 / $590.76

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TENANT PROFILES

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Shop 'n' Save

For decades SHOP ‘n SAVE’s local owners and operators have worked tirelessly to offer the

highest quality products at the lowest prices, the widest selection of brands, the freshest offerings

and best in the business customer service. Why do we work so hard to offer you the best?

Because it’s the Just Right Thing To Do.

There are more than 90 independently owned and operated SHOP ‘n SAVE stores in Western

Pennsylvania, Maryland, New York, Ohio, and West Virginia.

General Information

Tenant Name Shop 'n' Save

Website www.shopnsavefood.com

Rentable Square Feet 50,000 SF

Percentage of RBA 41.30%

Lease Expiration 1/31/2025

No. of Locations 90+

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TENANT PROFILE

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Goodwill

General Information

Tenant Name Goodwill

Website www.biglots.com

Headquartered Rockville, MD



No. of Locations 162

Goodwill’s network of 162 independent, local Goodwills in the United States and

Canada offers customized training and services for individuals who want to find a

job, pursue a credential or degree, and strengthen their finances. Each Goodwill

must be accredited, apply for membership and meet certain criteria established by

Goodwill Industries International (GII).

The GII Member Services center, located in Rockville, MD, offers local Goodwills a

number of benefits to enhance their programs and s

PA Liquor Control Board

General Information

Tenant Name PA Liquor Control Board

Website www.lcb.pa.gov

Headquartered Harrisburg, PA




The Pennsylvania Liquor Control Board is an independent government agency that

manages the beverage alcohol industry in Pennsylvania by administering the

Pennsylvania Liquor Code.

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TENANT PROFILE

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Long John Silver's A&W

General Information

Tenant Name Long John Silver's A&W

Website www.ljsilvers.com

Parent Company LJS Partners, LLC

Headquartered Louisville, KY




No. of Locations 8,400+

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MARKET

OVERVIEW

PROPERTY NAME

MARKETING TEAM

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DEMOGRAPHICS

Source: © 2018 Experian

Created on January 2019

POPULATION 1 Miles 5 Miles 7.5 Miles 2022 Projection

Total Population 6,855 67,222 125,500 2017 Estimate

Total Population 7,050 67,522 125,488 2010 Census

Total Population 7,062 67,735 124,964 2000 Census

Total Population 7,825 71,875 130,762 Current Daytime Population

2017 Estimate 7,838 68,501 109,942HOUSEHOLDS 1 Miles 5 Miles 7.5 Miles 2022 Projection

Total Households 3,072 28,480 52,370 2017 Estimate

Total Households 3,136 28,346 51,892Average (Mean) Household Size 2.22 2.32 2.36

2010 CensusTotal Households 3,154 28,548 51,954

2000 CensusTotal Households 3,392 28,807 51,902

Occupied Units2022 Projection 3,072 28,480 52,3702017 Estimate 3,559 31,313 57,266

HOUSEHOLDS BY INCOME 1 Miles 5 Miles 7.5 Miles 2017 Estimate

$150,000 or More 1.59% 4.84% 6.36%$100,000 - $149,000 9.34% 11.50% 12.67%$75,000 - $99,999 8.55% 13.79% 14.06%$50,000 - $74,999 21.87% 20.74% 20.16%$35,000 - $49,999 17.93% 14.27% 13.54%Under $35,000 40.73% 34.85% 33.22%

Average Household Income $50,815 $64,498 $69,554Median Household Income $42,237 $50,979 $53,718Per Capita Income $22,901 $27,379 $29,062

HOUSEHOLDS BY EXPENDITURE 1 Miles 5 Miles 7.5 MilesTotal Average Household Retail Expenditure $51,345 $59,948 $61,816 Consumer Expenditure Top 10 Categories

Housing $14,722 $16,765 $17,193Shelter $8,334 $9,569 $9,802Transportation $7,640 $9,078 $9,455Food $5,144 $5,860 $6,049Personal Insurance and Pensions $4,010 $5,020 $5,334Health Care $3,590 $4,391 $4,502Utilities $3,424 $3,791 $3,880Entertainment $1,972 $2,219 $2,290Household Furnishings and Equipment $1,441 $1,587 $1,636

Apparel $1,304 $1,665 $1,739POPULATION PROFILE 1 Miles 5 Miles 7.5 Miles Population By Age

2017 Estimate Total Population 7,050 67,522 125,488Under 20 21.35% 21.43% 22.17%20 to 34 Years 20.52% 17.49% 17.69%35 to 39 Years 5.91% 5.57% 5.69%40 to 49 Years 11.16% 11.73% 11.97%50 to 64 Years 21.91% 23.05% 23.00%Age 65+ 19.18% 20.74% 19.47%Median Age 42.13 44.97 43.95

Population 25+ by Education Level2017 Estimate Population Age 25+ 5,075 49,267 90,413Elementary (0-8) 2.15% 2.04% 1.77%Some High School (9-11) 10.82% 6.91% 6.30%High School Graduate (12) 42.17% 40.08% 37.72%Some College (13-15) 20.07% 18.39% 17.90%Associate Degree Only 10.79% 11.35% 11.14%Bachelors Degree Only 10.16% 13.41% 15.64%Graduate Degree 3.52% 7.16% 8.75%

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IncomeIn 2018, the median household income for your selected geography is$42,237, compare this to the US average which is currently $56,286.The median household income for your area has changed by 32.33%since 2000. It is estimated that the median household income in yourarea will be $47,208 five years from now, which represents a changeof 11.77% from the current year.

The current year per capita income in your area is $22,901, comparethis to the US average, which is $30,982. The current year averagehousehold income in your area is $50,815, compare this to the USaverage which is $81,217.

PopulationIn 2018, the population in your selected geography is 7,050. Thepopulation has changed by -9.90% since 2000. It is estimated that thepopulation in your area will be 6,855.00 five years from now, whichrepresents a change of -2.77% from the current year. The currentpopulation is 47.60% male and 52.40% female. The median age of thepopulation in your area is 42.13, compare this to the US averagewhich is 37.83. The population density in your area is 2,240.54 peopleper square mile.

HouseholdsThere are currently 3,136 households in your selected geography. Thenumber of households has changed by -7.55% since 2000. It isestimated that the number of households in your area will be 3,072five years from now, which represents a change of -2.04% from thecurrent year. The average household size in your area is 2.22persons.

EmploymentIn 2018, there are 3,665 employees in your selected area, this is alsoknown as the daytime population. The 2000 Census revealed that46.06% of employees are employed in white-collar occupations in thisgeography, and 54.05% are employed in blue-collar occupations. In2018, unemployment in this area is 6.25%. In 2000, the average timetraveled to work was 23.00 minutes.

Race and EthnicityThe current year racial makeup of your selected area is as follows:85.90% White, 9.00% Black, 0.01% Native American and 0.29%Asian/Pacific Islander. Compare these to US averages which are:70.42% White, 12.85% Black, 0.19% Native American and 5.53%Asian/Pacific Islander. People of Hispanic origin are countedindependently of race.

People of Hispanic origin make up 1.86% of the current yearpopulation in your selected area. Compare this to the US average of17.88%.

PROPERTY NAME

MARKETING TEAM

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HousingThe median housing value in your area was $83,014 in 2018, comparethis to the US average of $193,953. In 2000, there were 1,982 owneroccupied housing units in your area and there were 1,410 renteroccupied housing units in your area. The median rent at the time was$342.

Source: © 2018 Experian

DEMOGRAPHICS

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DEMOGRAPHICS

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rochester plaza 1.30 - loopnet€¦ · tenant profile rochester plaza 23 long john silver's...

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