INVESTMENT OPPORTUNITY

Transcription

1 INVESTMENT OPPORTUNITY SINGLE TENANT ABSOLUTE NNN

2 INVESTMENT SUMMARY This property is a fee simple interest (land & building ownership), absolute NNN leased, corporate guaranteed, Boot Barn in Jackson, Mississippi. Boot Barn has a 10-year initial term with ten percent rental increases every fifth year through the initial term and all option periods. The Landlord has no obligation to maintain the property under this lease. This is an ideal investment property for a long-distance owner. The property is centrally located in Jackson along the frontage road of I-55, the main corridor through Jackson. The immediate area is home to new car dealers (Ford, Chevy, Nissan, Toyota), McDonald s, Home Depot, Target, Carmax and several large employers including Comcast Cable. Outback Steakhouse and Cracker Barrel have corporate units adjacent to the site. The property has excellent visibility to I-55 in both directions and enjoys cross-access back to Beasley Road and the full interstate interchange. I-55 connects to Memphis in the North and Baton Rouge in the South. The 8,000 square foot building is new construction with 32 onsite parking spaces.

3 PROPERTY OVERVIEW SALE PRICE: CAP RATE: ACCESS: VISIBILITY: TRAFFIC COUNTS: IMPROVEMENTS: PARKING: YEAR BUILT: SIGNAGE: ZONING: $2,048, % Located on the I-55 Frontage Road, the property enjoys cross-access to Beasley Road and the full interchange at I-55. Building has full visibility to I-55 in both directions. I-55-88,000 VPD Beasley Road- 22,000 VPD New construction 8,000 SF building. All masonry construction with metal roof. Self parked on site. Asphalt parking lot with 32 spaces for Tenant s exclusive use foot pylon sign for Boot Barn s exclusive use. C-3 General Commercial

4 LEASE TERMS TERM : 10 Years with Four 5 Year Options Years 1-5: $128,000.00/year Years 6-10: $140,800.00/year OPTIONS: Option Years 11-15: $154,880.00/year Option Years 16-20: $170,400.00/year Option Years 21-25: $187,440.00/year Option Years 26-30: $206,160.00/year LANDLORD RESPONSIBILITIES: None. Absolute NNN Lease.

5

6

7

8 JACKSON, MS AREA OVERVIEW Jackson is the largest market in Mississippi with two major interstates intersecting (I-20 and I-55). Situated between Memphis, New Orleans, Atlanta, and Dallas, Jackson is advantageously positioned to serve the South s distribution needs. A transportation network of major carriers, regional airlines, major trucking lines, and rail lines operated by the Canadian National Railway and the Kansas City Southern Railway Co. assures Jackson s position as a vital provider of the nation s freight service. Manufacturing is an important economic sector, with nearly 500 manufacturers present in the area. Nissan Motor Co. has a $3.2 billion automobile plant where they make the Titan and frontier pick-up trucks, Altima, Murano, and NV Cargo and Passenger vans, and employs 6,400 workers. Cattle is the primary commodity. Other commodities important to the region are cotton, grains, poultry, and timber. The Dixie National Rodeo and Livestock Show is the largest rodeo east of the Mississippi and is held in Jackson at the Mississippi State Fairgrounds Coliseum. The event attracts over 100,000 people with an economic impact of $20 million. Goods produced in Jackson: automobiles and related automotive components, fabricated metals, electrical and electronic equipment, food products, apparel, wood products, furniture, transportation equipment, rubber and plastic products, portable electric tools, welded steel tubing, aircraft parts. Jackson International Airport is the site of Foreign Trade Zone #158, where foreign goods bound for international destinations can be temporarily stored without incurring an import duty, as well as the Mississippi Air Cargo Logistics Center. The nearest full-service port is the Port of Vicksburg, located on the Mississippi River 45 miles west of Jackson. Central location in the MSA and industrial footprint with great regional access. The subject site is surrounded by 12 industrial facilities, each employing between 350-6,400 people. 401,671 people in a 15 miles radius.

9 AREA DEMOGRAPHICS BOOT BARN TRADE AREA 234,208 Population KEY FACTS Average Household Size ANNUAL LIFESTYLE SPENDING $2,373 Travel $72 Theatre/Operas/ Concerts $67 Sports Events $89 Movies/Museums/ Parks Median Age $66,656 Median Household Income EDUCATION 7% No High School Diploma 18% High School Graduate 30% Some College 46% Bachelor s/grad/prof Degree ANNUAL HOUSEHOLD SPENDING $2,412 Apparel & Services $190 Computers & Hardware $3,906 Eating Out $5,420 Groceries $6,104 Health Care

10 BRAND PROFILE Boot Barn is the nation s leading lifestyle retailer of western and work-related footwear, apparel and accessories for men, women and children. The Company offers its loyal customer base a wide selection of work and lifestyle brands. Boot Barn now operates 208 stores in 29 states. From the humble beginnings of a family run storefront, to over 200 stores in 29 states, Boot Barn epitomizes the American dream of hard work, honesty and value. When founder Ken Meany opened that very first store little did he realize that his vision and values would help drive what Boot Barn is today. Even though we are a much larger company, we still embrace the down-home honesty that a family run business represents. From California to Florida, from North Dakota to Texas and Louisiana, we work hard to make sure every Boot Barn gives you the same personal experience that Ken started years ago.

11 INVESTMENT OPPORTUNITY EXCLUSIVELY MARKETED BY BRYAN HOLT, CCIM, CLS, CSX SOUTHPACE PROPERTIES 300 Richard Arrington Jr Blvd, N, Suite