Dan Cooper dcooper@coopergrp.com (216) 562 1981 x12 ...

Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124

Dan Cooper

dcooper@ (216) 562-1981 x12

Bob Havasi

bhavasi@ (216) 562-1981 x10

Table of Contents

INVESTMENT SUMMARY Investment Highlights .................... 4 Investment Overview ..................... 5 Location Overview ........................ 6 Offering Summary ........................ 7 FINANCIAL ANALYSIS Rent Roll ..................................... 9 Financial Analysis .......................... 10 PROPERTY ANALYSIS Site Plan ...................................... 12 Aerial Maps ................................. 13-14 Surrounding Area Photos ............... 15 Location Maps .............................. 16 Demographics ............................... 17 TENANT ANALYSIS Tenant Profiles ............................. 19-22 Disclosure & Confidentiality ............. 23

2

3

Sugarcreek Plaza

INVESTMENT HIGHLIGHTS

? Completely Redeveloped (2017 with Over $3.5 Million in Improvements), 4-Tenant, NNN, Trophy Power Center Centrally Located in the Heart of Major Retail Hub Directly Off Main Highway

? Well-Known, Highly Recognizable Tenants: BuyBuy BABY, Bed Bath & Beyond, Planet Fitness and Affordable Uniforms, All with Recently Executed 10-Year Leases Without Termination Rights, Creating Long-Term Rent Roll Stability

? 100% Occupied: ALL NNN Lease Structures in Strong Suburban Market with 5.6% Vacancy Rate

? Below Market Rental Rates with Comparable Area Rents in the Mid-Teen/S.F. Range, Low $113/S.F. Purchase Price, Far Below Replacement Cost and High Year-1 Expected Cash-on-Cash Return of 13.43%

? Hand-Picked Relocation: Bed Bath and Beyond Relocated to the Property in 2018 & Just Smashed Earnings Forecasts with Reported Best Quarterly Sales in 4 Years!

? Only BuyBuy BABY in Dayton MSA (Next Closest Location is 25+ Miles Away)

? Solid Demographics in High Barrier-to-Entry Market: Densely Populated Area with 122k+ People and Average Household Incomes Over $102k+ Within a 5-Mile Radius

? Surrounded by Complimentary Retailers and Service Providers in One of Dayton's Most Preferred Retail Markets: Chipotle, Panera Bread, Target, Home Depot, Cabela's, Kohl's, Lowes, Walmart Supercenter, Kroger, Costco, Chick-fil-A, Cheddar's, Cracker Barrel, Burger King, Buffalo Wild Wings, PNC, Holiday Inn Express, McDonalds and Many More

ADDITIONAL INVESTMENT HIGHLIGHTS

? Newer (2017) Roof with Transferrable 15-Year Warranty

? Highly Visible Pylon and Monument Signage and Ease of Access at Signalized Entrance off Wilmington Pike (33,750 VPD Surrounding the Property) and Direct Highway Access to I-675 with Traffic Counts of 80,375 VPD

? Home to the State of Ohio's Largest Single Site Employer Wright-Patterson Air Force Base (14 Miles with 25,000 Airmen, Civilian and Contractor Employees)

? Strategic and Convenient Location Directly Across from Miami Valley Hospital South, a Premier Health System (One of Dayton's Largest Employers with 14,000 Total Employees in the Area) Hospital Constructed in 2007, Which Grew Faster than Expected Becoming a Full Service Hospital with Physician Offices and Five-Story Patient Wing Addition (2009-2013) Now with Over 475 Employees

? Recent Numerous Accolades: Dayton Rated #3 City in the

Nation Out of the Top 50 Cities in the United States by

HealthGrades for "Excellence in Health Care," Site Selection

Magazine Ranked Dayton the "#1 Medium Sized Metropolitan

Area in the U.S. for Economic Development" and According to Bloomberg Businessweek, "Dayton is One of the Best

4

Places in the U.S. for College Graduates to Find a Job"

INVESTMENT OVERVIEW

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 69,858 S.F. Sugarcreek Plaza, a 2017 completely redeveloped power center, boasting high-traffic generating retailers, BuyBuy BABY, Bed Bath & Beyond, Planet Fitness and Affordable Uniforms, all on newer, long-term 10-year NNN leases. Formerly Sugarcreek Plaza was a single-tenant property and upon its redevelopment was turned into its current multi-tenant use. The asset is located in the Centerville suburban market of Dayton, Ohio and been reduced to $7,885,000, representing an attractive 8.00% CAP Rate, low $113/S.F. purchase price far below replacement cost and an expected year-1 cash-on-cash return of 13.43%. All of the tenants recently executed their firm, long-term leases, creating tremendous rent toll stability. The desire to be at this particular location can be evidenced by Bed Bath and Beyond's hand-picked relocation to this site in 2018 from a couple miles west of the featured asset and subsequent quick lease-up of the balance of the center. BuyBuy BABY is a leader in the children's products industry and this location is the only BuyBuy BABY is the entire Dayton MSA (next closest location is over 25+ miles away), Bed Bath and Beyond compliments with its desirable product lines and recently reported best quarterly sales in the past 4 years with stock prices up 30%, Planet Fitness further drives traffic to the center and has experienced explosive company growth (261 new locations in 2019) and rounding off the rent roll, Affordable Uniform's location is perfect for a medically dense region. The stores at Sugarcreek Plaza are designed and positioned for success.

The property has multiple points of ingress/egress off Wilmington Pike and Clyo Road with a signalized entrance and direct access to I-675. Traffic counts of 33,750 surround the property, while I-675 has 80,375 VPD. The superior location offers ease of management by having only 4 well-known regional/national tenants and is also positioned as part of a power center adjacent to other complimentary, high-traffic retailers. Some names include: Chipotle, Sherwin-Williams, CosmoProf, HotSpring Spa of Dayton, Bright Now! Dental and favorable restaurant outlots, Panera, Burger King, KFC and Fazoli's. Just seconds away, Sugarcreek Plaza is also surrounded by other shopping and restaurants that include: Target, Home Depot, Cabela's, Kohl's, Lowes, Walmart Supercenter, Kroger, Costco, Chick-fil-A, Cheddar's, Cracker Barrel, Burger King, Buffalo Wild Wings, PNC, Holiday Inn Express, McDonalds and many more.

The asset is located in a strong residential community with average household incomes over $102,000 within a 5-mile radius. The property has direct access to a large population base being positioned as a suburb of Dayton (8 miles) with over 430,000 people within 10-miles. The metro trade area offers best-in-class retailers and steady high volumes of traffic in the corridor, making this asset a destination point for all the surrounding communities.

Sugarcreek Plaza's position directly along I-675 is a huge advantage, making it a major regional retail

destination. The area boasts a strong employment base headlined by Wright-Patterson Air Force Base

(14 miles), the largest single-site employer in Ohio with 25,000 military and civilian employees. I-675 is

the direct route to the base and surrounding communities. Additionally, Miami Valley Hospital South is

located directly across from the center and is part of the Premier Health System of hospitals and health

care. Premier Health is the second-largest employer in Dayton with 14,000 total employees in the area.

Having a hospital directly across the street with many healthcare offices nearby, Affordable Uniforms

has a strategic advantage in the market. It is estimated that Premier Health Partners, a hospital network,

contributes more than $2 billion a year to the region through operating, employment, and capital

expenditures. Additionally, Kettering Medical Center is located just 7 miles northwest and is part of the

Kettering Health Network of eight hospitals, affiliate Kettering College, and over 120 outpatient facilities

serving southwest Ohio. With nearly 12,000 employees and 2,100 physicians, Kettering Health offers a

vast employment base with many residing nearby for a short commute to work. Furthermore, The

University of Dayton is only 7.5 miles from the featured asset and boasts over 11,000 students and an

academic staff of over 1,035, along with Wright State University (14 miles) enrolling approximately

13,745 students and faculty/staff of over 2,800. Given the property's strategic placement in an

unbeatable retail market and proximity to employees and residents; this asset is positioned as a

5

high-quality investment poised to generate substantial returns for years to come.

LOCATION OVERVIEW

The featured property is located in Sugarcreek Township/Centerville, a suburb of Dayton, Ohio, just 9 miles south of Downtown Dayton, the sixth largest city in the state. Dayton is the county seat of Montgomery County, the fifth most populous county in the state. Dayton's borders are within 500 miles of roughly 60% of the country's population. Its manufacturing infrastructure makes the Dayton Metropolitan Statistical Area a logistical stronghold for manufacturers/suppliers.

The Dayton region is primarily served by I-75 (8 miles), which runs north to south though the city of Dayton, I-70, a major east-west interstate that runs through many of Dayton's northern suburbs and intersects with I-75 in Vandalia and I-675, which is a partial interstate ring along the eastern suburbs of the city. It runs north to south and connects I-70 to the north and I-75 to the south. Other major routes for the region include: US-35, which is most widely used between Drexel, Ohio and Xenia, Ohio and Route 4, a freeway that is most heavily traveled between I-75 and I-70. The city is also a short 50-mile commute to Cincinnati along I-75. Air transportation is available just north via the Dayton International Airport (27 miles north). The Dayton International Airport is a significant regional air freight hub hosting FedEx Express, UPS Airlines, United States Postal Service, and major commercial freight carriers.

Nearby in Moraine, the area's largest employer, Fuyao Glass America (7.5 miles), the world's leading manufacturing company specializing in automotive glass opened its 116-acre facility in late 2016 and employs 2,000 people at the facility. Dayton's employment landscape hosts significant research and development in fields like industrial and aeronautical. Several noteworthy innovations have been designed in Dayton due in part to Wright-Patterson Air Force Base (14 miles) and its place within the community. The Air Force Base is the largest single-site employer in Ohio with 25,000 military and civilian employees. Dayton's businesses have diversified into a service economy that includes insurance and legal sectors as well as healthcare and government sectors. Dayton has been rated the #3 city in the nation out of the top 50 cities in the United States by HealthGrades for "Excellence in Health Care." Many hospitals in the Dayton area are consistently ranked by Forbes, U.S. News & World Report, and HealthGrades for clinical excellence. The healthcare industry accounts for much of the Dayton area's economy. Hospitals in the Greater Dayton area have an estimated combined employment of nearly 32,000, and a yearly economic impact of $6.8 billion. Miami Valley Hospital South is located directly across from the center and is part of the Premier Health System of hospitals and health care. It is estimated that Premier Health Partners, hospital network contributes more than $2 billion a year to the region through operating, employment, and capital expenditures. Also, Kettering Medical Center is located just 7 miles northwest and is part of the Kettering Health Network of eight hospitals, affiliate of Kettering College, and over 120 outpatient facilities serving southwest Ohio. Patients have access to high quality maternity care, state-of-the-art cancer fighting technology, Ohio's leading heart hospital, as well as revolutionary medicine for both brain and spine surgery. With nearly 12,000 employees and 2,100 physicians, Kettering Health is committed to transforming the healthcare experience with world class health services for every stage of life.

Many major corporations such as Reynolds and Reynolds, CareSource, Cargill, NewPage

Corporation, Huffy Bicycles, LexisNexis, Kettering Health Network, Premier Health

Partners, Standard Register, Dayton Reliable Tool and Teradata have their headquarters in

Dayton. Recently Site Selection magazine ranked Dayton the "#1 Medium Sized

Metropolitan Area in the U.S. for Economic Development" and according to Bloomberg

Businessweek, Dayton was one of the best places in the U.S. for college graduates to find a

job. Additionally, The Dayton area was ranked the "10th Best Metropolitan Area in the

United States for Higher Education" by Forbes. Located nearby, The University of Dayton

(10,549+ students), Wright State University (17,775+ students), Kettering College (approx.

1,000 students) and Sinclair Community College, which is the largest on-site community college in the state (10,000+ students) are all located in Dayton.

6

SUMMARY

Reduced Price: Gross Leasable Area: Price/SF: NOI: CAP Rate: Complete Redevelopment: Lot Size: Foundation: Exterior: Roof:

$7,885,000 69,858 S.F.

$112.87 $630,801

8.00% 2017

Approx. 7.481 Acres Concrete

Block/Metal 2017--15 Yr. Warranty

Current Operating Data

Rental Income: Tenant Reimbursements: Potential Gross Income: Vacancy (Actual): Effective Gross Income: Expenses: NOI: Annual Debt Service: Structural Reserve ($0.10/S.F.): Cash Flow After Reserves: Cash-on-Cash Return:

$639,683 $221,765 $861,448 ($0) $861,448 ($230,647) $630,801 $359,085 $6,986 $264,730 13.43%

Anticipated New Financing

Loan Amount:

$5,913,750

Down Payment:

$1,971,250

Loan Type:

New Loan

Interest Rate:

3.60%

Amortization:

25 Years

Term:

10 Years

Loan-to-Value (LTV):

75.00%

7

8

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download