EXCLUSIVE OFFERING $1,359,000 Dollar general S&P Rating BBB-

Transcription

1 Rep Photo EXCLUSIVE OFFERING $1,359,000 Dollar general S&P Rating BBB JOE CAPUTO BOB MOORHEAD RUSSELL SMITH property. 9,026+ SF building on acres. Metal Construction, Concrete Block Façade, Concrete Parking Lot. tenant. S&P Rated BBB-, Operates 11,132 stores in 40 states. Ranked 175th within the Fortune 500 Companies. Fiscal 2013 revenues exceeded $17.5 billion. lease structure. Corporate, 15-year, Absolute NNN lease beginning August 2013 with 10% rent bump at the beginning of each option period. location. is located on South 7th Street (5,434 Cars / Day) just west of U.S. 277 / Winters Fwy (42,682 Cars / Day) on the outer ring of Abilene near Dyess Air Force Base (4.3 miles west of the subject property). This location provides high visibility and great accessibility to travelers and residents alike. The immediate trade area is home to a variety of local business along with national credit tenants such as Sam s Club, Big K Mart, Chevy, Buick, GMC, Cadillac, Chrysler, Ram, Hyundai, Ford, Mitsubishi, Volkswagen, Whataburger, Subway, Churches, Taco Bell, Autozone, Firestone, U-Haul, McCoy s Building Supply, Chase, Broadwind Energy, and many others. Local businesses include Stor Lok Self Storage, Alpine Storage, U-STOR Self Storage, Colonial Storage, and many more. Abilene is a city 180 miles due west of the Dallas / Fort Worth Metroplex in west central Texas.

2 Table of contents Disclaimer PAGE 1: PAGE 2: PAGE 3: PAGE 4: PAGE 5: PAGE 6: PAGE 7-8: PAGE 9: COVER TABLE OF CONTENTS DISCLAIMER INVESTMENT OVERVIEW SITE PLAN AERIAL PHOTO LOCATION OVERVIEW LOCATION MAPS DEMOGRAPHICS Representative Photo Disclaimer EXP Realty Advisors, Inc. ( Agent ) has been engaged as an agent for the sale of the property located along 5401 South 7th Street, Abilene, TX by the owner of the Property ( Seller ). The Property is being offered for sale in an as-is, where-is condition and Seller and Agent make no representations or warranties as to the accuracy of the information contained in this Offering Memorandum. The enclosed materials include highly confidential information and are being furnished solely for the purpose of review by prospective purchasers of the interest described herein. The enclosed materials are being provided solely to facilitate the prospective investor s own due diligence for which it shall be fully and solely responsible. The material contained herein is based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by Agent or Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners and directors, as to the accuracy or completeness of the information contained herein. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained herein or any other written or oral communication or information transmitted or made available or any action taken or decision made by the recipient with respect to the Property. Interested parties are to make their own investigations, projections and conclusions without reliance upon the material contained herein. Seller reserves the right, at its sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Seller and Agent each expressly reserves the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawal from the market without notice. Agent is not authorized to make any representations or agreements on behalf of Seller. Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigation and/or making an offer to purchase the Property unless and until a binding written agreement for the purchase of the Property has been fully executed, delivered, and approved by Seller and any conditions to Seller s obligations hereunder have been satisfied or waived. By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents are of a highly confidential nature and will be held and treated in the strictest confidence and shall be returned to Agent or Seller promptly upon request; and (b) the recipient shall not contact employees or tenants of the Property directly or indirectly regarding any aspect of the enclosed materials or the Property without the prior written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied or otherwise reproduced without the prior written authorization of Seller and Agent.

3 Investment overview PRICE: $1,359,000 NET OPERATING INCOME: $88,317 BUILDING AREA: 9,026+ Square Feet LAND AREA: Acres YEAR BUILT: 2013 OWNERSHIP: Fee Simple Interest OCCUPANCY: 100% CONSTRUCTION TYPE: Metal Construction, Concrete Block Façade, Concrete Tenant overview Parking Lot LESSEE: Dolgencorp of Texas, Inc. CORPORATE GUARANTY: Corporation Lease overview Initial Lease Term: 15-Years, Plus 3, 5-Year Options to Renew Rent Commencement: August 2013 Lease Expiration: August 2028 Lease Type: Absolute NNN Rent Increases: 10% in Option Periods Year 1-15 Annual Rent (Current): $88,317 Year Annual Rent (Option 1): $97,148 Year Annual Rent (Option 2): $106,863 Year Annual Rent (Option 3): $117,549 S&P Rating BBB- (upgraded from BB+ in April, 2012) Cal Turner founded J. L. Turner & Son, Inc. in 1939, and opened the first store in Scottsville, Kentucky in June Today, Corporation operates as the country s largest small-box discount retailer with stores in the southern, southwestern, midwestern, and eastern United States. The stores are typically located in local neighborhoods and small communities deemed too small for big-box retailers. offers both name-brand and generic merchandise including off-brand goods and closeouts of name-brand items. Although it has the word dollar in the name, is not a dollar store. Many of its offerings are priced at more than one dollar. However, goods are usually sold at set price points of penny items and up to the range of 50 to 60 dollars, not counting phone cards and loadable store gift cards. The company provides paper and cleaning products (paper towels, bath tissues, paper dinnerware, trash and storage bags, laundry, and other home cleaning supplies), packaged food and perishables (cereals, canned soups and vegetables, sugar, flour, milk, eggs, and bread), beverages, snacks (such as candies, cookies, crackers, salty snacks, and carbonated beverages), over-the-counter medicines, personal care products (soap, body wash, shampoo, dental hygiene, and foot care products), pet supplies and pet food products, seasonal products (decorations, toys, batteries, small electronics, greeting cards, and stationery) prepaid cell phones and accessories, gardening supplies, hardware, automotive, home office supplies, home products (kitchen supplies, cookware, small appliances, light bulbs, storage containers, frames, candles, and craft supplies, as well as kitchen, bed, and bath soft goods), and casual, everyday apparel (for infants, toddlers, girls, boys, women, and men, as well as socks, underwear, disposable diapers, shoes, and accessories). Since the turn of the century, has added stores that carry a greater selection of grocery items, which operate under the name Market. In 2007 Kohlberg Kravis Roberts & Co. (KKR) acquired, privatized the company for restructuring, and took the company public again in As of January 1, 2014, operated 11,132 stores in 40 states. The company ranks 175 th within the Fortune 500 Companies. Fiscal 2013 revenues exceeded $17.5 billion (up 9.2% from 2012) with profits of $1,736.2 million. The company s current market value is estimated to be $18.41 billion. 3

4 Site Plan 4

5 Aerial photo Stor Lok Self Storage Alpine Storage U-STOR Self Storage TX Health & Human Services South 7 th Street (5,434 Cars / Day) Colonial Storage Pioneer Dive Baptist Church Abilene Elementary School 5

6 Location overview IMMEDIATE TRADE AREA is located on South 7th Street (5,434 Cars / Day) just west of U.S. 277 / Winters Fwy (42,682 Cars / Day) on the outer ring of Abilene near Dyess Air Force Base (4.3 miles west of the subject property). This location provides high visibility and great accessibility to travelers and residents alike. The immediate trade area is home to a variety of local business along with national credit tenants such as Sam s Club, Big K Mart, Chevy, Buick, GMC, Cadillac, Chrysler, Ram, Hyundai, Ford, Mitsubishi, Volkswagen, Whataburger, Subway, Churches, Taco Bell, Autozone, Firestone, U-Haul, McCoy s Building Supply, Chase, Broadwind Energy, and many others. Local businesses include Stor Lok Self Storage, Alpine Storage, U-STOR Self Storage, Colonial Storage, and many more. ABILENE / TAYLOR COUNTY / JONES COUNTY, TEXAS Abilene is a city 180 miles due west of the Dallas / Fort Worth Metroplex in west central Texas. The 2010 United States Census recorded the population as being 117,063. The city is home to Dyess Air Force Base, which lies just southeast of the city limits, and is the city s largest employer (5,406 employees). Abilene was ranked No. 1 in Texas and 17th in the nation for its public education system by Business Outlook Magazine in There are two school districts in Abilene, Abeline ISD and Wylie ISD, along with other prive school systems. Within ASID and WSID, there are over 40 school campuses including 30+ special programs and magnet schools. Combined, AISD and WISD have over 20,000 students enrolled and nearly 2,800 employees. The city is also home to three private universities: Hardin-Simmons University, Abilene Christian University, and McMurry University; as well as the Abilene campus of Cisco Junior College, a West Texas campus of Texas State Technical College, American Commercial College, and the new Abilene Campus of Texas Tech University Health Sciences Center. In 2013, the Development Committee of Abilene brought in several companies, among them: Tucker Energy Services, a multinational firm that offers wire line, cementing, perforating, coiled tubing, logging services and, most recently, hydraulic fracturing services. Phase 1 will result in 11 new jobs, and Phase 2 an additional 132 positions. CarbonLITE, one of the world s largest recyclers of plastic beverage bottles. The company will employ about 100 people to operate what officials say will be a $40 million processing plant at the Five Points Business Park. CarbonLITE expects to break ground before year s end and production is scheduled to begin in late There are 6 major industries that play a substantial role in the economic development and growth in Abilene. These industries include Higher Education ($290 million annual economic impact), Agriculture (Annual Farm Products: $472.3 million) & Annual Livestock ($539 million), Oil & Gas ($1.22 billion), Retail Trade ($2.8 billion in sales), Travel Trade ($423.7 million in Annual Revenue), and Military Installations ($441.5 million total economic impact to Abilene). Taylor County, of which Abilene is county seat, has a population of 131,506 (2010 US Census). Jones County, which contains only a small portion of the northern part of the city, extends north and west from Abilene, and has a population of 20,202 (2010 US Census). ABILENE METROPOLITAN STATISTICAL AREA The Abilene Metropolitan Statistical Area (MSA), as defined by the United States Census Bureau, is an area consisting of Taylor, Jones, and Callahan counties in west central Texas. The MSA is anchored by the city of Abilene. As of the 2000 US Census the MSA had a population of 160,245 people, 115,930 of which lived in the city of Abilene. The area has a rich history of cattle, railroads, and oil, which is showcased throughout the year in a variety of rodeos and western heritage festivals that draw tourist from across Texas, the United States, and World. Major employers in the MSA are Dyess Air Force Base (5,406 Employees), Hendrick Health System (2,869 employees), and the Abilene ISD (2,413 employees). Other notable employers include the Abilene State Supported Living Center (1,472 employees), The TX Dept. of Criminal Justice (1,128 employees), City of Abilene (1,200 Employees), and Abilene Regional Medical Center (750 Employees). Abilene s integrated transportation network provides convenient access to all U.S. and Canadian markets, as well as the large emerging markets in Mexico. The Abilene Regional Airport is an Federal Aviation Regulation (FAR) Part 139 certified airport on 1,700 city own acres, located approximately three nautical miles southeast of the central business district. Abilene is located on the main line of the Union Pacific Railroad. There are multiple freight and overnight carriers that operate in Abilene. Two bus lines also serve the city. Abilene s location and its connecting highways make it an ideal location for transporting goods. The Abilene MSA is ranked No. 2 in Texas and No. 48 nationally for Best Small Places for Business and Careers by Forbes.com (2012). 6

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9 Demographics DEMOGRAPHIC SNAPSHOT Radius 1 Mile 3 Mile 5 Mile Population: 2019 Projection 7,574 54,658 94, Estimate 7,392 53,115 91, Census 7,329 51,966 89,533 Growth % 2.91% 2.90% Growth % 2.21% 2.24% Households: 2019 Projection 2,814 21,377 36, Estimate 2,752 20,759 35, Census 2,751 20,298 34,446 Growth % 2.98% 2.98% Growth % 1.35% 0.74% Owner Occupied 1,320 11,406 19,974 Renter Occupied 1,432 9,353 15, Avg Household Income $43,570 $52,199 $52, Med Household Income $34,370 $41,269 $40, Households by Household Inc: <$25, ,972 10,925 $25,000 - $50, ,541 10,254 $50,000 - $75, ,483 7,204 $75,000 - $100, ,780 3,274 $100,000 - $125, ,333 $125,000 - $150, $150,000 - $200, ,199 $200, Dyess Air Force Base, Abilene, TX Downtown Abilene, Texas 9

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