FIVE FORKS I & II 2607 WOODRUFF ROAD, SIMPSONVILLE, SC OFFERING SUMMARY

Transcription

1 FIVE FORKS I & II 607 WOODRUFF ROAD, SIMPSONVILLE, SC 968 OFFERING SUMMARY

2 FIVE IRMO FORKS STATION I & II Holliday Fenoglio Fowler, L.P. ( HFF ) is pleased to exclusively present Five Forks I & II, a dominant BI-LO anchored shopping center located in Simpsonville, one of the fastest growing and most affluent submarkets of the Greenville / Spartanburg MSA. Five Forks I & II offers Investors the rare opportunity to acquire a well positioned grocery-anchored asset with a diverse tenant base and significant income security. Property Summary Property: Five Forks I & II 607 Woodruff Road Simpsonville (Greenville), SC 968 Size: 70,7 SF Occupancy: 00% Anchor: Super BI-LO Year Built: 999 Pricing: Property is being offered with no Asking Price As-Is NOI: $84,000 Demographics MI. MI. 5 MI. Population 07 Estimate 7,97 50,64 00,78 0 Estimate 8,05 55,944 0,875 Population Growth % 84.5% 66.% Average Household Income 07 Estimate $,7 $5,097 $96,67 Super BI-LO Anchored STRONG SALES: BI-LO sales exceed the chain average and have grown close to 0% since 00. LONG-TERM OPERATOR: BI-LO has operated at the Property for 7 years and has approximately 8 years of remaining term. LOW OCCUPANCY COST: BI-LO operates at a very healthy occupancy cost. SECURE CASH FLOW: BI-LO is a subsidiary of Southeastern grocers, which operates approximately 70 stores across 7 states with over $0B in annual revenue. SOUTH CAROLINA BRAND RECOGNITION: BI-LO operates 80 stores under the BI-LO brand, 0 of which are located in South Carolina. DOMINANT MARKET SHARE: BI-LO is the # neighborhood grocer in the state of South Carolina with over 4% market share. Greenville / Spartanburg MSA - A Growing Community The Greenville / Spartanburg MSA, commonly referred to as the Upstate, is located in the northwestern portion of South Carolina and is home to more than.4m residents, which is nearly a 7% increase since 000. DIVERSE ECONOMIC BASE: The Greenville / Spartanburg MSA has a diverse industry base ranging from government, manufacturing, automotive, education, and professional services. The MSA is also home to the North American Headquarters for both BMW and Michelin. STRATEGIC LOCATION: The Greenville / Spartanburg MSA is strategically located along I-85 equidistant between Charlotte and Atlanta, the Southeast s two premier economic hubs. CLEMSON UNIVERSITY: Clemson University, which has more than 8,000 students & faculty, is located approximately 0 miles south of Greenville, and is a major economic draw for the surrounding areas. The University also has a Greenville campus that is located only 6 miles from the Property.

3 Desirable Location AFFLUENT DEMOGRAPHICS: The Average Household Income within a -mile radius of the Property is $5,000, which is 49% higher than the national average. GROWING POPULATION BASE: There are 50,600 residents within a -mile radius of the Property, which is an 85% increase since 000, and is expected to grow an additional 0% over the next five years. ESTABLISHED RETAIL CORRIDOR: Five Forks I & II is located along Woodruff Road, one of the main retail corridors in Greenville with over.6m SF of retail space within a -mile radius of the Property. HIGHLY EDUCATED POPULATION: 5% of the population within a -mile radius of the Property has a bachelor s degree or higher, ensuring long-term affluence and stability in the trade area. INVESTMENT HIGHLIGHTS Dominant Property Fundamentals MAIN & MAIN INTERSECTION: Combined daily average traffic counts on Woodruff Road & Five Forks Road exceed,000 cars per day. DISCOUNT TO REPLACEMENT COST: The Property will trade at a discount to replacement costs providing an attractive basis for the next owner. IDEAL SHOP SPACE RATIO: Anchor to shop space ratio of approximately 66% / 4%, which blends income security with income growth. CONVENIENT ACCESS: The Property has five points of ingress/egress including a dedicated signalized access point directly in front of the center along Woodwruff Road. PROMINENT PYLON SIGNS: The Property has two large pylon signs that are easily visible on Woodruff Road and Five Forks Road. INCOME GROWTH: Due to contractual rent escalations across the majority of shop tenants and BI-LO, the future owner benefits from a durable income stream with over 5% of NOI growth during the hold period. Excellent Merchandising Mix Five Forks I & II has a synergistic merchandising mix with a tenant base that caters to the community s needs. The Property has a grocer, liquor store, restaurants, tanning salon, nail salon, cell phone store, mailing supplies, cleaners, & dentist.

4 T E N ANT ROS TER SUITE TENANT SF FIVE FORKS I ABC Liquor El Jalisco Golden Llama 4 Exotic Tan 5 Bi-Lo Foods 6 Postal Annex 7 Nail Salon 8 Dr. Brian Hodges, DMD 9 Oxford Cleaners 64,58,485 4,000,600,000 46,67,600,00,00,500 FIVE FORKS II Verizon Wireless Asian Cafe Sport Clips Total 6,09,000,700,9 70,77 Current Tenant Not Included 4 FI VE FO RK S RD,00 0 AA DT ) W OO DR UF F RD (

5 Atlanta New Jersey Austin New York Boston Orange County Carolinas Orlando Chicago Philadelphia Dallas Phoenix Denver Pittsburgh Houston Portland Indianapolis San Diego London San Francisco Los Angeles Tampa Miami Washington Investment Sales Debt Contacts Brad Buchanan Associate dir Travis Anderson dir Tom Kolarczyk Associate Director Cory Fowler Associate Director dir Mike Allison Associate dir Richard Reid dir Jim Hamilton dir Shea Petrick Analyst dir Ryan Stoffer Analyst dir Holliday Fenoglio Fowler, L.P. ( HFF ) a Georgia licensed real estate broker. Copyright 07 HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff. hfflp.com