southeast 7th street - loopnet€¦ · southeast 7th street vancouver, washington 98683 ryan imbrie...

SOUTHEAST 7TH STREET

VANCOUVER, WASHINGTON 98683

RYAN IMBRIE | MANAGING DIRECTOR [email protected]

O: 503.208.9403| M: 503.705.7352

* Representative photo, not actual building

All SVN® Offices Independently Owned and Operated

The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

SINGLE TENANT RETAIL FOR SALE



SALE PRICE: $9,846,000

NOI: $718,800

CAP RATE: 7.30%

BUILDING SIZE: 36,427 SF

LOT SIZE: 3.03 AC

PROPERTY TYPE: Specialty (Theatre)

ZONING: C3

YEAR BUILT 2005

PARKING: 220 surface spaces, ratio of 6.04/1,000 SF

APN/PARCEL NUMBERS: 114782-404

SVN Imbrie Realty is proud to present the AMC Classic Mill Plain 8 movie theatre.

Built in 2005, the 36,427 SF subject property features 8 movie screens on 3.03

AC. The current tenant, AMC Theatres is a publicly traded multi-national owned

organization. There are 12 years left remaining on the absolute NNN lease with

four - 5 year options. For more information or questions, please contact Ryan

Imbrie at [email protected] or 503.208.9403.

PROPERTY DETAILS * Representative photo, not actual building



INVESTMENT HIGHLIGHTS

INVESTMENT HIGHLIGHTS

• LONG TERM ABSOLUTE LEASE IN PLACE

- 12 Year lease remaining

• NATIONAL CREDITED TENANT

- 200 million movie goers visit AMC Theatres in 2018

• EXCELLENT DEMOGRAPHICS

- 12,000 residents within 1 mile radius earning an average

household income of $65,000 annually

• Abundant Parking

- Parking ratio of 6.04/1,000 SF (220 surface spaces)

• TRAFFIC COUNT

- Close proximity to Interstate 205 (165,000 + Vehicles pass

by daily)

12 YEARS REMAINING ON LEASE!

FOUR - 5 YEAR OPTIONS

BUMPS EVERY 5 YEARS (lesser of CPI or 10%)



SITE PLAN SE 7TH STREET

AMC Classic Mill Plain Theatre

11700 SE 7th Street

Vancouver, Washington 98683

36,427 SF

3.03 Acres

8 Movie Screens

220 Parking Spaces

* Not to Scale



RENT INFORMATION

FIXED RENT REMAINING LEASE TERM MONTHLY RENT PSF ANNUAL RENT PSF

2019 - 2021 $59,900 $1.64 $718,800 $19.73

2021 - 2026 $65,890.0 $1.81 $790,680.0 $21.71

2027 - 2031 $72,479.0 $1.99 $869,748.0 $23.88

LEASE OPTIONS MONTHLY RENT PSF ANNUAL RENT PSF

(Option 1) - 2032 - 2036 $79,726.90 $2.19 $956,722.80 $26.26

(Option 2) - 2037 - 2041 $87,699.59 $2.41 $1,052,395.08 $28.89

(Option 3) - 2042 - 2046 $96,469.55 $2.65 $1,157,634.59 $31.78

(Option 4) - 2047 - 2051 $106,116.50 $2.91 $1,273,398.05 $34.96

Comments: Absolute NNN Lease, rent increases occur every 5 years on January 1st. Bumps are lesser of CPI or 10%

* Representative photos, not actual building

* *

All SVN® Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

INTERIOR PHOTOS

All SVN® Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

EXTERIOR PHOTOS * Representative photos, not actual building



PROPERTY MAP



PARCEL MAP



SE 10th Street

SE 7th Street

AERIAL MAP

SE Mill Plain Blvd



ABOUT AMC THEATRES

Website www.amctheatres.com

Type Public

Traded as NYSE: AMC

Industry Entertainment

Founded January 1, 1920; 99 years ago (as

American Multi-Cinema)

Headquarters Leawood, Kansas

Number of locations 661

Key people

Stanley Durwood

Dan Holland (Chairman)

Adam Aron (President/CEO)

Number of Employees 4,332 Full-Time; 35,511 Part-Time

Founded in 1920, AMC Theatres (originally an abbreviation for American Multi-Cinema; often referred to simply as AMC and known in some countries as AMC Cinemas) is a multi nation-owned movie theater chain headquartered in Leawood, Kansas. It is the largest movie theater chain in the world, with over 8,200 screens in 661 theatres in the United States and 2,200 screens in 244 theatres in Europe.

Approximately 200 million guests visit AMC theatres across all of it’s location in 2018. In recent years, AMC has continued to lead the industry by doing what it does best: focusing on its guests and providing the best-possible movie-going experience. Backed by its majority shareholder, The Wanda Group, AMC led the charge on the instillation of plush, power recliners, massively expanded and improved food and drink options for guests, including the introduction of MacGuffins Bars, and Coca-Cola Freestyle machines, and has made movie-going more immersive than ever through an expanded partnership with IMAX and the introduction of Dolby Cinema at AMC.

AMC announced Thursday afternoon that it bought all the closed Cinetopia movie theaters in the nation, which includes three i n the Portland area. The theaters could reopen as soon as Friday.

Cinetopia, the luxury living room-style movie theater chain, started in Vancouver before it expanded to Beaverton and Kansas City. It closed suddenly last week with little fanfare.

The AMC acquisition comes after considerable animosity between the two companies. Cinetopia sued AMC in May 2018 over competi tive practices in the Kansas City area. Company officials indicated they would settle last week.

Now, AMC Executive Vice-President of U.S. Operations John McDonald said that the purchase will open the door to AMC in the Portl and area. It joins a market largely dominated by Regal and Cinemark, as well as several independent theaters within Portland.

“While each theatre offers something a little different, what they all have in common is AMC ’s commitment to providing the very best moviegoing experience,” McDonald said.

The inside of the theaters will be rebranded when they reopen, which should be within a few weeks. The Vancouver Mall locatio n should be open Friday.

The exterior signage will still bear the Cinetopia names for awhile, but the format will have switched to riffs on the AMC br and:

The Beaverton location will be a AMC Dine-In and have a full menu of appetizers, entrees and desserts that are delivered to the customer’s theater.

The Vancouver location will become AMC Vancouver Mall 23. That theater will also have a specialty menu, as well as “the very best of cutting-edge moviegoing.” Cinetopia in Mill Plain will become a regular AMC, now called AMC Classic.

All three are expected to eventually sell alcohol, but only the Beaverton theater will reopen its bar soon.

The AMC announcement said that tickets could be cheaper now, but did not set a price. Each location will offer a $5 ticket on Tuesday for the company’s membership program, which also allows members to watch three movies a week for a monthly price.

Tickets will be available at the theaters, on its mobile app and online through Fandango, MovieTickets, Atom Tickets and the company’s website AMCTheatres.com.

CINETOPIA BECOMES AMC

Posted May 23, 2019



https://www.oregonlive.com/business/2019/05/cinetopia-shutters-all-three-portland-area-movie-theaters.html

https://www.oregonlive.com/business/2019/05/cinetopia-shutters-all-three-portland-area-movie-theaters.html

MESSAGE FROM AMC THEATRES



AMC CLASSIC – America’s Hometown Theatres. Fun, friendly, local theatres that you can depend on for a great moviegoing experience with value in mind, including annual refillable popcorn buckets!

• Cinetopia Mill Plain 8 in Vancouver will become AMC CLASSIC Mill Plain 8

With this acquisition of theatres, AMC for the first time will be serving movie fans in the Portland area. Also, we are now offering an additional convenient location to serve our guests in the dynamic southwest area of the Kansas City metro. We can’t wait to get to know all the movie lovers in Portland and introduce you to our AMC Stubs loyalty program, including AMC Stubs A-List – which allows you to see up to 3 movies a week for one low monthly rate, as well as our incredibly popular Discount Tuesdays - which gets you into the latest movies for just $5 (+tax) every Tuesday.



SURROUNDING RETAILER MAP


The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. All SVN® Offices Independently Owned and Operated

PORTLAND, OREGON

METRO POPULATION: 2,389,228

9

HIGHER EDUCATION

SPORTS

Portland, Oregon’s largest city, is located at the confluence of the Willamette and Columbia Rivers. The Portland-Vancouver MSA consists

of four counties: Multnomah, Washington, Clackamas, and Clark County, Washington — On clear days, Mt. Hood towers over Portland,

with its striking snow-capped peak. That breathtaking view is one aspect of what makes the area so unique. It’s a stunning place that

brings together the rugged natural beauty of the Cascades with metropolitan culture and class.

ABOUT CITY OF PORTLAND | 17


3.8% Metro Unemployment Rate

MAJOR EMPLOYERS

HIGHLIGHTS

Average Annual Salary

Portland Metro: $55,330 | US: $50,620

#8 Best City to Live According to US News

#1 Best Foodie City in America per WalletHub

#5 Best Biking City According to Bicycling Magazine


Top 15 most educated City in America per Trillist

METRO HIGHLIGHTS

Projected population grown of 4.9% from 2017-2022


Vancouver is a city on the north bank of

the Columbia River in the U.S. state of Washington,

and the largest suburb of Portland,

Oregon. Incorporated in 1857, it is the fourth

largest city in the state, with a population of

161,791 as of April 1, 2010 census. Vancouver is

the county seat of Clark County and forms part of

the Portland-Vancouver metropolitan area, the

23rd largest metropolitan area in the United States.

Originally established in 1825 around Fort

Vancouver, a fur-trading outpost, the city is located

on the Washington/Oregon border along

the Columbia River, directly north of Portland. In

2005, Money magazine named it No. 91 on its list of

best places in America to live. In 2016, WalletHub

ranked Vancouver the 89th best place in the US for

families to live


ABOUT VANCOUVER WASHINGTON

$321,200

Median Home Value

$55,593

Median Household

Income

161,791

2010 Population




1 Mile 3 Miles 5 Miles

Total Households 5,452 38,643 90,734

Total Population 12,342 96,752 236,448

Persons per Household 2.3 2.5 2.6

Average Household Income $65,538 $64,098 $62,928

Average House Value $238,228 $251,956 $255,252

Average Age 36.8 38.5 36.8

Average Age (Male) 35.3 37.3 35.8

Average Age (Female) 37.9 39.4 37.7

DEMOGRAPHICS DATA

SOUTHEAST 7TH STREET VANCOUVER | WASHINGTON 99336

RYAN IMBRIE

MANAGING DIRECTOR

O: 503.482.7551 | M: 503.705.7352

[email protected]



LINCOLN TOWER

10260 SW GREENBURG ROAD, SUITE 530

PORTLAND, OREGON 97223

www.svnimbrie.com

SINGLE TENANT RETAIL

southeast 7th street - loopnet€¦ · southeast 7th street vancouver, washington 98683 ryan imbrie...

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