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Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 www.coopergrp.com Bob Havasi [email protected] (888) 525-5695 x10 Dan Cooper [email protected] (888) 525-5695 x12
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Page 1: Bob Havasi - LoopNet€¦ · Between the current national tenants, pivotal location in the ... has an inviting appearance that draws customers to popular tenants that are present

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

Bob Havasi [email protected] (888) 525-5695 x10

Dan Cooper [email protected] (888) 525-5695 x12

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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 Plans ..….…………………………………….. 12

Aerial Map ……………………………………….. 13-14

Location Maps .…………………………………. 15

Demographics ..………………………………… 16

TENANT ANALYSIS

Tenant Profiles ……….………….…………….. 18-28

Disclosure & Confidentiality …..….……… 29

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INVESTMENT HIGHLIGHTS

4

Salem Market Place

• 100% Occupied Center Shadow Anchored by Walmart Supercenter and Directly Across from Home Depot

• Advantageously Located in Growing Area Between Major Cities: Youngstown (20 Miles) and Akron/Canton (25 Miles) with Average Household Incomes Over $54,500 within a 1-Mile Radius

• Newly Executed Leases, Lease Renewals and Tenured Tenants Proving Commitment and Desire to Location and Market

• Main Retail Corridor Surrounded by Complimentary Retailers Along Most Heavily Traveled Roadway

• Direct Vicinity of Major Employers: Salem Community Hospital (Major Growth & Expansion Over the Past 3 Years), American Standard Brands and Kent State University Salem Campus (1,134+ Students)

• Recent Capital Improvements: New Exterior Paint, New Facade, Dryvit Repairs and a Newly Striped & Resealed Parking Lot

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The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in the Walmart Supercenter Shadow Anchored Salem Marketplace in Salem, Ohio. The property is being offered for $2,275,000, representing an 8.20% CAP Rate. The center also sits directly across from a high-traffic Home Depot and is positioned along Main Street, the main retail corridor throughout the city. Salem Marketplace boasts well-known tenants, many on Triple Net (NNN) lease structures, including: Best Cuts (NYSE: “RGS”), Sally Beauty Supply (NYSE: “SBH”/S&P “BB+”), GameStop (NYSE: “GME”), Little Caesar's, Boost Mobile, Hibachi Express, Burrito Loco and Drayer Physical Therapy. The 100% occupied center has had excellent leasing traction and now with tenured and new tenants, the rent roll benefits from staggered lease expirations. Between the current national tenants, pivotal location in the market and long-term leases in place, this asset is an unbeatable investment.

Located in the main shopping corridor of Salem, the 16,252 S.F. property has an inviting appearance that draws customers to popular tenants that are present in the center. In the recent years, the center has recently undergone many capital improvements, including: new exterior paint, new façade, Dryvit repairs and a newly striped and resealed parking lot. All of the tenants benefit from the daily traffic to the Walmart Supercenter that provides a constant flurry of activity around the featured center. Salem Marketplace is ideally positioned in a strong residential community, within close proximity to major employers and surrounded by complimentary national retailers, including Home Depot, Salem Plaza Shopping Center (Tractor Supply, Dollar General and Peebles) and Eastgate Plaza Shopping Center (Giant Eagle, GetGo, Bob Evans, Marc’s Discount and Aldi).

Salem Marketplace is also positioned near major employers which bring residents to the area. Salem Regional Medical Center is located along State Street just 2 miles west and employs over 500 people. American Standard Brands (2 miles) and Kent State University’s Salem Campus (4 miles) are also in close proximity. American Standard is a leading North American manufacturer of bath and kitchen products and Kent State’s Salem Campus is home to more than 1,134 students in addition to the campus’ faculty and staff.

Salem is nestled in the beautiful rolling hills of Northeastern Ohio. Salem is advantageously located about 65 miles from both Pittsburgh and Cleveland, 20 miles southwest of Youngstown, and 25 miles east of Akron/Canton. Being positioned between the two major cities is also an advantage for commuters. With the building’s desirable location and inviting appearance, the asset is positioned to be a solid investment well into the future.

INVESTMENT OVERVIEW

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Salem is nestled in the beautiful rolling hills of Northeastern Ohio. It is centrally located about 65

miles from both Pittsburgh and Cleveland, and is about 20 miles southwest of Youngstown, and 25

miles east of Akron/Canton. The retail center is located on the main east-west roadway, State Street,

through Salem and is in the main retail corridor of the city. The main roadway is also the direct route

to Youngstown to the east and Akron to the west.

Salem has thrived on an industrial-based economy, advantageously located between Cleveland and

Pittsburgh. American Standard Brands (2 miles), MAC Trailer Manufacturing and several tool-and-die

manufacturers are the main industrial companies in the city. Additionally, Salem Regional Medical

Center is a general medical and surgical hospital serving the surrounding communities and located

less than 2 miles west on State Street. The hospital has 116–beds and over 500 employees. The

region is also home to several colleges and universities that are within close proximity to Salem which

makes this a convenient place to live for faculty and individuals that are working and going to school

in the area. Some of the higher education options include: Kent State University Salem Campus (4

miles, 1,134+ students), Mount Union College (14 miles, 2,167+ student) and Youngstown State

University (18 miles, 10,872+ students).

Being positioned between Youngstown and Akron-Canton, Salem is an excellent center point for

commuters. Youngstown offers several major employers, including General Motors, Infocision, Mercy

Health, Trumbull County Government, Youngstown City Schools and Youngstown State University,

whom all have over 1,000 employees. Additionally, Youngstown is home to Vallourec and

Mannesman, who recently broke ground for a $620 million-dollar pipe mill north of its existing

business V&M Star, the facility is 1 million square feet and produces tube goods to service natural gas

exploration in the Marcellus Formation, an AT&T call center, AVI Food Systems, Covelli Enterprises,

Delphi Packard Electric Systems, Alcoa Engineered Products and many more companies with over 500

employees. The Akron-Canton area's economy is diverse and offers everything from retail, industrial,

and agricultural segments. Canton is home to the Timken Company and Timken Steel, a major

manufacturer of tapered roller bearings and specialty steel. Several other large companies operate in

the greater-Canton area, including the Belden Brick Company, Daimler, one of the biggest producers

of premium cars and the world's biggest manufacturer of commercial vehicles. The area is also home

to several regional food producers, including Nickel’s Bakery, Park Farms and Shearer's Foods.

Canton is also home to Aultman Hospital, the largest hospital and largest employer in Stark County

with over 5,000 employees and Mercy Medical Center, which operates a 476-bed hospital serving

surrounding counties. It has 620 members on its Medical Staff and employs 2,500 people.

Furthermore, the Akron employment landscape is certainly within reach with major companies like

Goodyear, America's biggest tire manufacturer, with approximately 3,000 employees and the

company recently built a new world headquarters. Furthermore, Akron is home to Fortune 500

Company, FirstEnergy, who employs approximately 2,500 people. Akron is also home to The

University of Akron (26,500+ students and 2,500 employees on the academic staff) and the

headquarters to Sterling Jewelers, Spectrum (formerly Time Warner Cable) and the well-known

Firestone Country Club that hosts the PGA Bridgestone Invitational.

LOCATION OVERVIEW

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Loan Amount:

Loan Type:

Interest Rate:

Amortization:

Term:

Loan-to-Value (LTV):

Monthly Debt Payment:

$1,706,250

New Loan

4.50%

25 Years

5 Years

75.00%

$9,484

Anticipated New Financing

Rental Income:

Tenant Reimbursements:

Potential Gross Income:

Vacancy (Actual):

Vacancy for Reimbursements:

Effective Gross Income:

Expenses:

NOI:

Annual Debt Service:

Structural Reserve ($0.10/S.F.):

Cash Flow After Reserves:

Cash-on-Cash Return:

$225,446

$28,493

$253,939

($0)

($0)

$253,939

$67,478

$186,461

$113,807

$1,625

$71,029

12.49%

Operating Data

Price:

Down Payment:

Gross Leasable Area:

Price/SF:

NOI:

CAP Rate:

Year Built:

Lot Size:

Foundation:

Exterior:

$2,275,000

$568,750

16,252 S.F.

$139.98

$186,461

8.20%

2003

Approx. 1.345 Acres

Concrete

Concrete Block/Metal

SUMMARY

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% of Tenant Lease Lease Rent/ Annual Lease Rental Option

Tenant GLA Total Since Start Expiration S.F. Rent Type Bumps Rate/S.F.

Best Cuts/Regis Corp. (1)

1,200 7.38% 2003 2/1/2013 1/31/2018 $19.00 $22,800 NNN None N/A

Sally Beauty 1,350 8.31% 2003 1/1/2017 12/31/2021 $15.00 $20,250 NNN None (1) 5-Yr.

Option 1: $16.50/SF

GameStop 1,599 9.84% 2003 2/1/2017 1/31/2020 $15.00 $23,985 NNN None (1) 3-Yr.

Option 1: $15.75/SF

Little Caesars 1,800 11.08% 2016 4/1/2016 3/31/2021 $14.50 $26,100 NNN None (1) 5-Yr.

Option 1: $13.00/SF

The Gadget Lab 980 6.03% 2015 7/1/2017 6/30/2019 $11.02 $10,800 Modified Gross

(Pays In-Suite Utilities) None N/A

Alternative Smokes, LLC

1,073 6.60% 2014 12/1/2014 11/30/2018 $12.30 $13,200 Modified Gross

(Pays In-Suite Utilities) None

(1) 4-Yr. Option 1:

Years 1-2 = $12.30/SF Years 3-4 = $13.84/SF

Boost Mobile 1,536 9.45% 2015 9/1/2015 9/30/2020 $10.16 $15,600 Modified Gross

(Pays In-Suite Utilities) None N/A

Hibachi Express 1,287 7.92% 2017 4/1/2017 1/31/2027 $17.11 $22,021 Modified Gross

(Pays In-Suite Utilities, Janitorial & Trash Removal)

None (2) 5-Yr.

Option 1: $19.00/SF Option 2: $21.00/SF

One Main Financial (2)

1,287 7.92% 2017 3 Years 3 Years $11.50 $14,801 NNN None (2) 3-Yr.

Option 1: $12.50/SF Option 2: $13.50/SF

Drayer Physical Therapy Institute

4,140 25.47% 2017 10/11/2017 10/10/2022 $13.50 $55,890 Modified Gross

(Pays In-Suite Utilities, Janitorial & Trash Removal)

Year 2: $13.77/SF Year 3: $14.05/SF Year 4: $14.33/SF Year 5: $14.61/SF

(2) 3-Yr. Option1:

Year 1 = $15.65/SF Year 2 = $15.96/SF Year 3 = $16.28/SF

Option 2: Year 1 = $16.61/SF Year 2 = $16.94/SF Year 3 = $17.28/SF

Total Building 16,252 100.00% $13.87 $225,446

Vacancy - 0.00% $ - $ -

(1) Renewal paper work is in progress. (2) Commencement is 90 days from Effective Date or Tenant Opens for Business.

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Pro Forma 2017-2018

2016 2017-2018 $/SF

INCOME:

Potential Rental Income

Rental Income $ 118,117 $ 225,446 $ 13.87

Tenant Reimbursements

Real Estate Taxes 4,387 6,460 0.40

Insurance 2,969 3,117 0.19

CAM (1) 12,870 15,496 0.95

Management (1) - 3,128 0.19

Admin Fee (1) - 292 0.02

Gross Potential Rental Income $ 138,344 $ 253,939 $ 15.63

Vacancy Factor (Actual) 0.00% - -

Reimbursements From Vacancy 0.00% - -

Effective Gross Income $ 138,344 $ 253,939 $ 15.63

OPERATING EXPENSES:

Management Fee 4% $ 8,617 $ 9,018 $ 0.55

Real Estate Taxes 13,300 14,510 0.89

Insurance 6,465 7,000 0.43

Landscaping Maintenance 3,804 4,000 0.25

Utilities

Electric - Billable 3,152 2,000 0.12

Water/Sewer 1,222 1,550 0.10

Lot Sweeping 1,010 1,400 0.09

Trash Removal 5,381 5,500 0.34

Snow/Ice Removal 4,864 5,500 0.34

Parking Lot Repairs 2,250 3,500 0.22

Repair & Maintenance (2) 4,566 6,250 0.38

Non-CAM Electric 1,197 750 0.05

Non-Reimbursable General Repairs (3) 6,655 6,500 0.40

Total Expenses $ 62,482 $ 67,478 $ 4.15

Net Operating Income $ 75,862 $ 186,461 $ 11.47

Loan Analysis

Cash Flow Available Before Debt Service $ 186,461 $ 11.47

CAP Rate 8.20% 8.20%

Valuation $ 2,275,000 $ 139.98

Loan to Value 75.00% 75.00%

Loan Amount $ 1,706,250 $ 104.99

Rate 4.50% 4.50%

Term 5 5

Amortization 25 25

Annual Debt Service $ 113,807 7.00

Debt Service Coverage Ratio 1.64 1.64

* The owner changed management companies in the middle of 2016 and the numbers shown are a collection/combination of both financial records.

(1) Historically, Admin. and Management reimbursements have been included in CAM. We have separated for Pro Forma purposes.

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2955 E State St 1 mi radius 3 mi radius 5 mi radius 10 mi radius

Salem, OH 44460

POPULATION

2017 Estimated Population 1,889 16,933 25,314 70,315

2010 Census Population 1,937 17,444 26,169 72,851

2000 Census Population 2,113 17,783 26,553 72,115

2017 Median Age 52 44.5 44.2 44.8

HOUSEHOLDS

2017 Estimated Households 840 7,382 10,771 29,299

2022 Projected Households 836 7,364 10,733 29,203

2010 Census Households 836 7,368 10,788 29,437

2000 Census Households 830 7,277 10,581 28,021

Historical Annual Growth 2000 to 2017 0.1% 0.1% 0.1% 0.3%

RACE AND

ETHNICITY

2017 Estimated White 96.9% 95.6% 96.2% 96.4%

2017 Estimated Black or African American 0.8% 0.8% 0.8% 1.0%

2017 Estimated Asian or Pacific Islander 0.3% 0.5% 0.5% 0.8%

2017 Estimated American Indian or Native Alaskan 0.1% 0.2% 0.2% 0.1%

2017 Estimated Other Races 1.9% 2.9% 2.3% 1.7%

INCOME

2017 Estimated Average Household Income $58,722 $61,704 $61,628 $68,567

2017 Estimated Median Household Income $43,956 $47,517 $49,056 $54,928

2017 Estimated Per Capita Income $26,661 $27,101 $26,378 $28,744

EDUCATION

(AGE 25+)

2017 Estimated Elementary (Grade Level 0 to 8) 2.9% 2.6% 2.3% 2.0%

2017 Estimated Some High School (Grade Level 9 to 11) 14.4% 9.5% 8.9% 6.8%

2017 Estimated High School Graduate 41.8% 45.0% 45.0% 42.1%

2017 Estimated Some College 21.5% 20.3% 19.2% 19.2%

2017 Estimated Associates Degree Only 5.1% 7.8% 8.4% 8.4%

2017 Estimated Bachelors Degree Only 8.1% 10.0% 11.2% 13.6%

2017 Estimated Graduate Degree 6.2% 4.7% 5.0% 7.9%

BUSINESS

2017 Estimated Total Businesses 219 823 1,077 3,298

2017 Estimated Total Employees 3,981 11,566 14,462 35,638

2017 Estimated Employee Population per Business 18.2 14.1 13.4 10.8

2017 Estimated Residential Population per Business 8.6 20.6 23.5 21.3

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Website:

Headquartered:

# of Locations:

Ticker Symbol:

Credit Rating:

www.walmart.com

Bentonville, AR

10,773

NYSE: “WMT”

S&P “AA”

Moody’s “Aa2”

Walmart Stores, Inc. operates retail stores in various formats worldwide. The company operates in three segments: Walmart U.S., Walmart International, and Sam's Club. The company operates retail stores, restaurants, discount stores, grocery, supercenters, hypermarkets, warehouse clubs, apparel stores, Sam’s Clubs, neighborhood markets, and other small formats. The company’s stores offer groceries, floral, health and beauty aids, baby products, home supplies, electronics, toys, photo processing services, cellular phones and services, automotive accessories, hardware and paint, pharmacy and optical services, along with apparel for women, girls, men, boys, and infants.

*Source - www.walmart.com

Shadow Anchor Tenant

Website:

Headquartered:

# of Locations:

Ticker Symbol:

Credit Rating:

www.homedepot.com

Atlanta, GA

2,278+

NYSE: “HD”

S&P “A-”

Moody’s “A2”

Shadow Anchor Tenant

The Home Depot, Inc. operates as a home improvement retailer. The company’s stores sell building materials, home improvement products, and lawn and garden products, as well as provide installation, maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers. The Home Depot’s installation programs include products, such as carpeting, flooring, cabinets, countertops, and water heaters. The company serves home owners, professional remodelers, general contractors, repairmen, small business owners, and tradesmen.

*Source - www.homedepot.com

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Regis Corporation (NYSE: RGS) owns, operates, and franchises hairstyling and hair care salons for men, women, and children in the United States, the United Kingdom, Canada, and Puerto Rico. The company’s salons offer haircutting and styling, including shampooing and conditioning; custom styling, cutting, and hair coloring; and other services, as well as professional hair care products. It operates salons under a division called Signature Style, which include MasterCuts, Cost Cutters, Hair Masters, Borics Hair Care, Famous Hair, TGF Hair Salon, Holiday Hair, Fiesta Salons and more in enclosed mall shopping centers, strip shopping centers, Walmart Supercenters, department stores, mass merchants, and high-street locations.

www.signaturestyle.com Source: www.signaturestyle.com; www.regiscorp.com

Tenant Base Rent Schedule

Current:

Monthly

$1,900.00

PSF

$19.00

Common Area Maintenance:

Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share

105% Over Previous Year

on CAM, Excluding Utilities,

Insurance & Security

Pro Rata Share

Pro Rata Share

None

Pro Rata Share

Tenant Recapture

Annual

$22,800.00

Headquarter:

# of Total Locations:

Type:

Ticker Symbol:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration*:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Termination Clause:

Edina, MN

9,008+

Corporate (Regis)

NYSE: RGS

1,200

2003

02/01/2013

01/31/2018

None

None

Hair Salon

Walmart

None

Tenant Lease Abstract

* Renewal paper work is in progress.

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Sally Beauty (NYSE: SBH/S&P “BB+”/Moody’s “Ba2”) sells to both consumer and professional customers. The company sells hair color and care, skin and nail care, beauty sundries, and styling tools for retail customers and salon professionals. This segment also provides products under third-party brands, such as Clairol, CHI, China Glaze, OPI, and Conair, as well as exclusive-label merchandise Every Sally store carries more than 5,000 professional salon products for hair, nails and skin, plus the latest in beauty trends and accessories. There are also complete ethnic offerings in every store, and expanded ethnic sections in appropriate areas. Sally Beauty’s store associates are trained professionals, many of whom are licensed hair stylists.

www.sallybeauty.com

Source: www.sallybeauty.com

Tenant Base Rent Schedule

Current:

Option 1:

Monthly

$1,687.50

$1,856.25

PSF

$15.00

$16.50

Common Area Maintenance:

Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share

5% Over Previous Year

on All Operating Expenses (Including Real Estate Taxes) Pro Rata Share

Pro Rata Share

None

Pro Rata Share

Tenant Recapture

Annual

$20,250.00

$22,275.00

Headquarter:

# of Total Locations:

Type:

Ticker Symbol:

S&P Credit Rating:

Moody’s Credit Rating:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Termination Clause:

Edina, MN

3,700+

Corporate

NYSE: SBH

BB+

Ba2

1,350

2003

01/01/2017

12/31/2021

None

(1) 5-Yr.

None

Walmart

None

Tenant Lease Abstract

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Drayer Physical Therapy Institute ®, LLC (DPTI) is a leading owner and operator of outpatient physical therapy clinics in the United States. Founded in 2002 with a single center in Bel Air, Maryland, DPTI quickly grew to deliver physical therapy services through an expanding network of over 130 clinics in sixteen states. Drayer commits to provide the most effective, clinically superior physical therapy humanly possible at a fair price. The measure of the company’s success is found in the trust built and in the hearts of those that are healed.

www.drayerpt.com Source: www.drayerpt.com

Tenant Base Rent Schedule

Current:

Bump Year 2:

Bump Year 3:

Bump Year 4:

Bump Year 5:

Option 1

Year 1:

Year 2:

Year 3:

Option 2

Year 1:

Year 2:

Year 3:

Monthly

$4,657.50

$4,750.65

$4,845.66

$4,942.58

$5,041.43

$5,399.25

$5,507.24

$5,617.38

$5,729.73

$5,844.32

$5,961.21

PSF

$13.50

$13.77

$14.05

$14.33

$14.61

$15.65

$15.96

$16.28

$16.61

$16.94

$17.28

Tenant Recapture

Annual

$55,890.00

$57,007.80

$58,147.96

$59,310.92

$60,497.13

$64,791.00

$66,086.82

$67,408.56

$68,756.73

$70,131.86

$71,534.50

Headquarter:

# of Total Locations:

Type:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Termination Clause:

Hummelstown, PA

130+ in 16 States

Corporate

4,140

2017

10/11/2017

10/10/2022

Annual

(2) 3-Yr.

Physical Therapy

None

None

Tenant Lease Abstract

Common Area Maintenance:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Modified Gross (Pays In-Suite Utilities, Janitorial &

Trash Removal)

Gross

Gross

None

None

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GameStop Corp. (NYSE: GME/S&P “BB”/Moody’s “Ba1”)

operates as an omnichannel video game retailer. It sells new

and pre-owned video game hardware; video game software;

pre-owned and value video game products; video game

accessories. The company also sells mobile and consumer

electronics, including wireless products and services, and

accessories, as well as new and pre-owned smart phones;

personal computer (PC) entertainment software in various

genres, including sports, action, strategy, adventure/role

playing, and simulation; and strategy guides, magazines, and

interactive game figures. In addition, it offers collectibles that

include licensed merchandise related to the video game,

television, and movie industries, as well as pop culture

themes.

www.gamestop.com

Source: www.gamestop.com

Tenant Base Rent Schedule

Current:

Option 1:

Monthly

$1,998.75

$2,098.68

PSF

$15.00

$15.75

Tenant Recapture

Annual

$23,985.00

$25,184.25

Headquarter:

# of Total Locations:

Corporate:

Ticker Symbol:

S&P Credit Rating:

Moody’s Credit Rating:

GLA:

Tenant Since:

Current Term Start*:

Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Other Termination Clause:

Grapevine, TX

7,535+

GameStop Inc.

NYSE: GME

BB

Ba1

1,599

2003

02/01/2017

01/31/2020

None

(1) 3-Yr.

Video Game Sales

Single Price Point

Walmart

None

Tenant Lease Abstract

Common Area Maintenance:

Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share

5% Over Previous Year on

CAM, Including Insurance

Pro Rata Share

Pro Rata Share

10% on CAM Expenses

None

Page 23: Bob Havasi - LoopNet€¦ · Between the current national tenants, pivotal location in the ... has an inviting appearance that draws customers to popular tenants that are present

23

As one of the fastest growing pizza chains in the U.S. (based on net number of stores added each year 2008-2015), there’s no denying that Little Caesars is doing something right. The company is an international brand and household name – and it has come a long way since its start as a single store in metro Detroit in 1959 and the opening of its first franchise in 1962. The company began offering HOT-N-READY® pizzas for $5 and the concept was enough to become a permanent trademark for the company and produce significant growth.

www.littlecaesars.com

Source: www.littleceasars.com

Tenant Base Rent Schedule

Current:

Option 1:

Monthly

$2,175.00

$1,950.00

PSF

$14.50

$13.00

Common Area Maintenance:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share

Pro Rata Share

Pro Rata Share

None

None

Tenant Recapture

Annual

$26,100.00

$23,400.00

Corp. Headquarter:

# of Total Locations:

Lease Type:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Termination Clause:

Detroit, MI

Worldwide

Franchise

1,800

2016

04/01/2016

03/31/2021

None

(1) 5-Yr.

None

None

None

Tenant Lease Abstract

Page 24: Bob Havasi - LoopNet€¦ · Between the current national tenants, pivotal location in the ... has an inviting appearance that draws customers to popular tenants that are present

24

Boost Mobile, is one of Sprint Corporation’s (NYSE: “S”/S&P “B”/Moody’s “B2”) award-winning prepaid brands. The company offers premium products and services on the nationwide Sprint 4G LTE network with no annual contracts and unlimited plans starting at just $35 a month. The growing brand now offers flip to 4G LTE, including iPhones.

www.boostmobile.com

Source: www.boostmobile.com

Tenant Base Rent Schedule

Current:

Monthly

$1,300.00

PSF

$10.16

Tenant Recapture

Annual

$15,600.00

Corp. Headquarter:

# of Total Locations:

Lease Type:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Termination Clause:

Overland Park, KS

Worldwide

Franchise

1,536

2015

09/01/2015

09/30/2020

None

None

Cell Phone Retail

Store

None

None

Tenant Lease Abstract

Common Area Maintenance:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Modified Gross (Pays In-Suite Utilities)

Gross

Gross

None

None

Page 25: Bob Havasi - LoopNet€¦ · Between the current national tenants, pivotal location in the ... has an inviting appearance that draws customers to popular tenants that are present

25

Contact the Gadget Lab for any electronic repair needs. The company offers smart phone/tablet repairs, microsoldering, computer/laptop repairs and maintenance and TV/LCD/PLASMA/LED repairs.

http://lnlkustomz2007.wixsite.com/thegadgetlab

Source: http://lnlkustomz2007.wixsite.com/thegadgetlab

Tenant Base Rent Schedule

Current:

Monthly

$900.00

PSF

$11.02

Common Area Maintenance:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Modified Gross (Pays In-Suite Utilities)

Gross

Gross

None

None

Tenant Recapture

Annual

$10,800.00

Headquarter:

# of Total Locations:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Termination Clause:

Salem, OH

1

980

2015

07/01/2017

06/30/2019

None

None

None

None

None

Tenant Lease Abstract

Page 26: Bob Havasi - LoopNet€¦ · Between the current national tenants, pivotal location in the ... has an inviting appearance that draws customers to popular tenants that are present

26

Tenant Base Rent Schedule

Current:

Option 1

Years 1-2:

Years 3-4:

Monthly

$1,100.00

$1,100.00

$1,237.53

PSF

$12.30

$12.30

$13.84

Common Area Maintenance:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Modified Gross (Pays In-Suite Utilities)

Gross

Gross

None

None

Tenant Recapture

Annual

$13,200.00

$13,200.00

$14,850.32

Headquarter:

# of Total Locations:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Termination Clause:

Salem, OH

1

1,073

2014

12/01/2014

11/30/2018

None

(1) 4-Yr.

None

None Right to Terminate Due

to Legislative Action -

E-Cigarette Business - if

termination for such

cause, tenant to pay 2

months rent or the

balance of lease if less

than 2 months;

Tenant Lease Abstract

Page 27: Bob Havasi - LoopNet€¦ · Between the current national tenants, pivotal location in the ... has an inviting appearance that draws customers to popular tenants that are present

27

One Main provides loans and other credit-related products to more than 10 million customers in 44 states. For more than 100 years, the company has provided the personal lending products that customers need when they need them. One Main Holdings, Inc., provides consumer finance and insurance products and services. The company provides secured and unsecured personal loans; credit insurance products, such as life insurance, disability insurance, protection, and involuntary unemployment insurance products; non-credit insurance; and ancillary products, such as auto membership plans. The company also services and holds real estate loans secured by first or second mortgages on residential real estate. One Main Financial was formerly known as Springleaf Holdings, Inc. and changed its name to One Main Holdings, Inc. in November 2015.

www.onemainfinancial.com

Source: www.onemainfinancial.com;

Tenant Base Rent Schedule

Current:

Option 1:

Option 2:

Monthly

$1,233.42

$1,340.62

$1,447.87

PSF

$11.50

$12.50

$13.50

Common Area Maintenance:

Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share

TBD

Pro Rata Share

Pro Rata Share

None

None

Tenant Recapture

Annual

$14,801.00

$16,087.50

$17,374.50

Headquarter:

# of Total Locations:

Type:

Ticker Symbol:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration*:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Termination Clause:

Evansville, IN

1,800 in 44 States

Corporate

NYSE: OMF

1,287

2017

3 Years

3 Years

None

(2) 3-Yr.

TBD

TBD

TBD

Tenant Lease Abstract

* Commencement is 90 days from Effective Date or Tenant Opens for Business.

Page 28: Bob Havasi - LoopNet€¦ · Between the current national tenants, pivotal location in the ... has an inviting appearance that draws customers to popular tenants that are present

28

Tenant Base Rent Schedule

Current:

Option 1:

Option 2:

Monthly

$1,835.08

$2,037.75

$2,252.25

PSF

$17.11

$19.00

$21.00

Common Area Maintenance:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Modified Gross (Pays In-Suite Utilities)

Gross

Gross

None

None

Tenant Recapture

Annual

$22,021.00

$24,453.00

$27,027.00

Headquarter:

# of Total Locations:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Termination Clause:

Salem, OH

1

1,287

2017

04/01/2017

01/31/2027

None

(2) 5-Yr.

None

None Right to Terminate Due

to Legislative Action -

E-Cigarette Business - if

termination for such

cause, tenant to pay 2

months rent or the

balance of lease if less

than 2 months;

Tenant Lease Abstract

Page 29: Bob Havasi - LoopNet€¦ · Between the current national tenants, pivotal location in the ... has an inviting appearance that draws customers to popular tenants that are present

29

DISCLOSURE, CONFIDENTIALITY & DISCLAIMER

CONFIDENTIALITY AGREEMENT DISCLOSURE & DISCLAIMER The information within this Offering Memorandum will set forth an understanding regarding the relationship between the Recipient of this package (the “Recipient”) and The Cooper Group and the confidentiality of the investment information to be supplied to you and your organization for use in considering, evaluating and/or purchasing this property (the “Property”). The recipient acknowledges that all financial, contractual, marketing, and informational materials including but not limited to lease information, occupancy information, financial information, projections, data information and any other similar information provided by The Cooper Group which relates to the Property (collectively, the Confidential Information), whether said information was transmitted orally, in print, in writing or by electronic media is confidential in nature and is not to be copied or disseminated to any party without the prior consent of The Cooper Group. The Recipient acknowledges and agrees that the Confidential Information is of such a confidential nature that severe monetary damage could result from dissemination of that information to unauthorized individuals. The Recipient shall limit access to the Confidential Information to those individuals in the Recipient’s organization with a “need to know” and shall take all precautions reasonably necessary to protect the confidentiality of the Confidential Information. The Recipient acknowledges and agrees that the Confidential Information and any copies thereof are the property of The Cooper Group and that all such information will be returned to The Cooper Group upon written request. Any offers or inquiries from Recipient in connection with this investment proposal shall be forwarded, confidentiality, to The Cooper Group. Other than The Cooper Group, recipient agrees that neither Recipient nor The Cooper Group shall be obligated to pay any procuring broker fees in connection with this investment unless a separate written Brokerage Agreement is entered into and written acknowledgement of any procuring Brokerage Agreement is received from all parties to the investment transaction. Procuring brokers must provide written introductions of potential investors and receive written acknowledgment from The Cooper Group for representation to be recognized. This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

The Memorandum contains selected information pertaining to the property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property, to be all-inclusive or to contain all or part of the information which perspective Recipients may require to evaluate the purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the owner or The Cooper Group. All references disclosed herein related to acreage, square footages and/or other measurements may be approximations and the best information available. The summaries of information included herein do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Photos herein are the Property and respective owners and use of these images without the express written consent of the owner is prohibited. The owner and the Cooper Group expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or terminate discussions with any entity and any time with or without notice which may arise as a result of review of this Memorandum. Neither the owner or the Cooper Group, nor any of their respective directors, officers, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or its contents; and you are to rely solely on your investigators and inspections of the property in evaluating a possible purchase of the Property. The information contained in this document has been obtained from sources to be reliable. While the Cooper Group does not doubt its accuracy, the Cooper Group has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm the accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the Property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors.

Page 30: Bob Havasi - LoopNet€¦ · Between the current national tenants, pivotal location in the ... has an inviting appearance that draws customers to popular tenants that are present

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

Bob Havasi [email protected] (888) 525-5695 x10

Dan Cooper [email protected] (888) 525-5695 x12


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