PHOENIX ARIZONA - LoopNet
[Pages:15]OFFERING MEMORANDUM
PHOENIX ARIZONA Rent Escalations Every 3-Years Hedges Against Inflation
CONFIDENTIALITY AND DISCLAIMER
The 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 and should 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, unverified information 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 due diligence 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, the future 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 or asbestos, 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 any tenant'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 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.
NON-ENDORSEMENT NOTICE
Marcus & Millichap Real Estate Investment Services, Inc. ("M&M") 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 name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
Marcus & 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 name is 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, or commercial 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.
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93
LA PAZ
60
Wickenburg
17
188
TABLE OF CONTENTS
Cave Creek
87
60
60
Sun City West
Investment
S1u0mmar
y..........................................1 MA
R
I
C
O
P
A
Investment Highlights.........................................2
Aerial Map..........................................................4
Tenant Summary.................................................5
Buckeye
Surprise El Mirage
Sun City
Fountain Hills
Youngtown
Peoria
Luke AFB
Glendale Paradise Valley
88
Scottsdale
Litchfield Park
Goodyear
Tolleson
Phoenix
Avondale
85
Cashion
Tempe 60
Mesa Dreamland-Velda Rose Apache Junction
87 Guadalupe
Gilbert
Chandler
Location Highlights..............................................6
10
Williams AFB
60
Location Overview...............................................7 Area Map............................................................8 85
Sun Lakes
87
89
Sacaton
Demographics.....................................................9
Gila Bend
Coolidge
Florence
8
84
Casa Grande
8
PINAL
Eloy
10
85
YUMA
GI
88
Superior
Claypool Central Heights-Midland Miami Globe
177
77
Kearny
Hayden Winkelman
Dudleyville
77
89
Mammot
77
Oracle
San Ma
Catalina
Marana Oro Valley
Ajo
86 85
PIMA
Tucson Estates
86
Tucson
South Tucson Davis-Monthan AFB
89
INVESTMENT SUMMARY
2550 W VAN BUREN STREET, PHOENIX, AZ 85009
PRICE: $2,185,100
CAP: 6.25%
RENT: $136,568
OVERVIEW
Price Gross Leasable Area (GLA) Lot Size (approx) Net Operating Income CAP Rate Year Built
LEASE ABSTRACT
Lease Type Original Lease Term Lease Term Commenced (Estimate) Lease Expiration Remaining Lease Term Renewal Options Increases Landlord Obligation
$2,185,100 8,320 SF
1.28 Acres $136,568 6.25% 2013
NNN 15 Years 7/2/2015 3/31/2029 10.7 years
6x5 Rent inc every 3-yrs. CPI adjusted, not to exceed 6%
None At All
ANNUALIZED OPERATING DATA
Lease Term Current 8-11* 12-15 Option 1 Option 2 Option 3 Option 4 Option 5 Option 6
Annual Rent $136,568 $144,762 $153,448 $162,655 $172,414 $182,759 $193,724 $205,348 $217,669
* Escalations based on CPI, not to exceed 6%. For ease of reference, the adjustment here is calculated at 6%, but actual adjustments may vary.
1
INVESTMENT HIGHLIGHTS
tt Densely populated suburban area tt Rental escalations every 3 years hedges against inflation tt 20 year roof warranty in place tt Minimal Landlord Responsibilities tt Investment grade tenant (S&P BBB- rated)
376,730
T O TA L P O P U L AT I O N WITHIN 5-MILE RADIUS
$48,929
AVERAGE HOUSEHOLD INCOME WITHIN 5-MILE RADIUS
23,076 VPD - W VAN BUREN STREET 19,075 VPD - N 27TH AVENUE
2
INVESTMENT HIGHLIGHTS
This corporate guaranteed Family Dollar (NYSE:FDO) offers a 10.7 year lease with minimal landlord responsibilities with six 5-year options thereafter, and rent escalations during base and option periods. The affluent and strong density surrounding populous creates an inviting passive investment opportunity.
Minimal competition in the immediate area, creates a strong market presence.
NNN
Minimal landlord obligations with roof warranty in place (through 2034)
Minimal competition in immediate area corners the
neighborhood's business
Newer 2013 construction
Rental escalations every 3-years hedges
against inflation
Strong population density with over 377,092 residents within a
5-mile radius and growing.
3
J B Sutton Elementary School
Isaac School
Willow Park
10 FWY
Central Industrial District
William R Sullivan Elementary School
17 FWY N 27TH AVE - 19,075 VPD
W VAN BUREN STREET - 23,076 VPD
Rollfab Metal Products
Feeders Grain Co
Saint Matthew Catholic School
Alexander Park
4
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