6108 N. TRAVEL CENTER DRIVE TUCSON, AZ 85741 · TRIPLE NET LEASED INVESTMENT . FOR SALE . PROPERTY...

For more information, please contact:

PICOR COMMERCIAL REAL ESTATE SERVICES, INC. 1100 N Wilmot, Suite 200

Tucson, AZ 85712 (520) 748 7100 www.picor.com

STEPHEN D. COHEN Principal, Industrial Properties (520) 546 2750 [email protected]

RUSSELL W. HALL, SIOR, GSCS Principal, Commercial Properties (520) 546 2747 [email protected]

No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions imposed by our principals.

6108 N. TRAVEL CENTER DRIVE TUCSON, AZ 85741

TRIPLE NET LEASED INVESTMENT FOR SALE

PROPERTY FEATURES • BTS for high-end body shop • Two-story office • Evap cooled shop with paint booths • Large land parcel, fenced lot • Tenant under lease is a wholly owned Subsidiary of the Boyd Group

PROPERTY DETAILS

SALE PRICE $ 2,190,000

AVAILABLE SF ± 11,370 SF

OFFICE ± 1,583 SF

AGE 2008

OCCUPANCY 100%

CAP RATE 8.5%

TENANT Kingswood Collisions, Inc.

PARENT CO. The Boyd Group (TSX: BYD.UN)

LEASE EXPIRES 12/6/2019

LOT SIZE 47,933 SF -1.1 ACRES

SINGLE TENANT BODY SHOP

mailto:[email protected]


± 11,370 SF NNN LEASED INVESTMENT







6108 N. TRAVEL CENTER DRIVE GERBER COLLISION & GLASS

RENT ROLL

TENANT LEASE TERM RENT

Gerber Collision & Auto Glass 12/7/09—12/6/2014 $15,300/Month

First Renewal Option—exercised 5/23/14 Option 1 - 5 Years $15,507/Month

Three Renewal Options Option 6 - 10 Years $16,283/Month Option 11 - 15 Years $17,097/Month Option 16 - 20 Years $17,952/Month

Annual Rent $186,084 Cap Rate 8.5% Sale Price $2,190,000.00

Gerber Collision & Glass Founded in 1937 by Phil Gerber, Gerber Collision & Glass has provided quality auto collision and glass repair work for more than 70 years. What started as a single auto glass and trim shop in Chicago has grown to one of the largest auto collision and glass repair companies in North America.

Boyd Group Income Fund Through its operating company, The Boyd Group Inc. and its subsidiaries, is the largest multi-site operator of automotive collision repair service centers in North America, with 221 locations in the four western Canadian provinces and fourteen U.S. states.

RENT ROLL










6108 N. TRAVEL CENTER DRIVE

BOYD GROUP INCOME STATEMENT

GERBER COLLISION & GLASS











FINANCIAL NOTES

FINANCIAL NOTES (reprinted from Boyd Group 2013 annual report)

For the year ended December 2013, sales increased by 33.1% to $578.3 million, from $434.4 million for the same period a year ago. The increase in sales was due primarily to multi-shop acquisitions and new locations, which contributed $96.6 million of incremental sales. Additional sales came from same-store sales growth of 4.1% or $16.0 million and $24.6 million of incremental sales from the glass business due primarily to the acquisition of Glass America. Sales benefited further from an increase of $10.1 million as a result of currency translation of sales generated by our U.S. operations. This was partially offset by $3.3 million in lost sales from the closure of four under-performing locations. A core component of our growth strategy is our ability to grow organically with our existing operations. We attribute our overall success in revenue growth to our high quality of service offerings, strong brand recognition, and market share gained through the continuing consolidation of the industry. Earnings before interest, income taxes, depreciation and amortization, adjusted for the fair value adjustments related to the convertible debenture conversion feature, exchangeable share liability, unit option liability, non-controlling interest put option, gain on sale of software, write-down of goodwill and acquisition, transaction and process improvement costs (“Adjusted EBITDA”)1 for the year ended December 31, was $41.5 million, or 7.2% of sales, compared with Adjusted EBITDA of $29.8 million, or 6.9% of sales, in the prior year. The 39.1% increase in Adjusted EBITDA was primarily due to increased same-store sales, which contributed $4.5 million of incremental EBITDA, combined with $4.3 million of incremental EBITDA from new locations and $1.4 million from the translation of U.S. results to Canadian dollars at higher exchange rates. Our glass business, which generates its strongest sales during the spring and summer months, contributed $1.8 million of incremental EBITDA. The closure of under-performing stored reduced Adjusted EBITDA by $0.2 million. The net loss for the year-end 2013 was $11.6 million, or $0.891 per unit (fully diluted), compared to net earnings of $7.1 million, or $0.563 per unit (fully diluted), for the same period last year. The loss in the current period resulted from noncash expenses for fair value adjustments to financial instruments of $27.1 million. Fair value adjustments, which are noncash charges to our earnings, resulted primarily from the 103% appreciation in our unit price during the year. Excluding the impact of these and other adjustments, net earnings would have increased to $18.5 million, or 3.2% of sales. This compares to adjusted earnings of $14.7 million, or 3.4% of sales, for the same period in 2012 if the same items were adjusted. For the year ended December 31, 2013, the Fund generated adjusted distributable cash of $22.3 million and declared distributions and dividends of $6.4 million, resulting in a payout ratio based on adjusted distributable cash of 28.0% for the year. This compares with a payout ratio of 32.6% a year ago. The increase in adjusted distributable cash is largely due to higher cash flow from operations resulting from the growth of the company. With respect to our balance sheet, the Fund had total debt, net of cash at December 31, 2013, of $48.4 million, compared with $47.1 million at December 31, 2012 and $70.5 million at September 30, 2013. The decrease in debt from September 30, 2013 was primarily due to the repayment of U.S. senior debt in the fourth quarter of 2013. The Fund had a cash position at December 31, 2013 of $19.3 million, compared with $39.0 million for the same period one year ago. The decrease in cash for the year was primarily a result of acquisition activity and the investment in Hansen Collision and Glass. As we have already noted, our balance sheet is strong and very well positioned for future growth. We expect the momentum gained by the Company in 2013 to continue into 2014.











INSIDE PHOTOS











FLOOR PLAN











SITE PLAN










6108 N. TRAVEL CENTER DRIVE

AERIAL BUILDING LOT VIEW

GERBER COLLISON & GLASS











STREET AERIAL VIEW



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6108 N. TRAVEL CENTER DRIVE TUCSON, AZ 85741 · TRIPLE NET LEASED INVESTMENT . FOR SALE . PROPERTY...

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