801 W. Curtis DRIVE Midwest City, OK (OKLAHOMA City)

Transcription

1 SUBJECT PROPERTY EXCLUSIVE OFFERING $1,700, % CAP Land & Building Only Business Is Not part of Sale Continued Operating Business. Please do not Disturb employees or management EXP DALLAS JOE CAPUTO BOB MOORHEAD property. 11,779+ SF of total building area (2 buildings ) on acre site. tenant. Caliber Collision: Founded in 1997, 3,100 employees, headquarters in Lewisville, TX. Company has 129 locations in 5 States - California, Texas, Arizona, Oklahoma, and Colorado and serves 200,000+ Customers annually. Largest non-franchised collision repair operator in the U.S. and the only recipient of the 2013 USAA Supplier Excellence Award. lease structure. Brand new, 15-year absolute NNN lease with 2, 5-year options. 10% rent bumps every 5-years during primary term and option periods. location. Caliber Collision is located along W. Curtis Drive just off of Interstate 40 (65,570 Cars / Day) near the intersection of Air Depot Boulevard (24,387 Cars / Day) and 29th Street (24,279 Cars / Day). The subject property is across Interstate 40 from a Sam s Club and next to the newly constructed Town Center Plaza (678,814 SF). This development is anchored by Lowe s, JCPenney, Target, and Kohl s. Other big box retailers include Best Buy, Hibbett Sports, and Petsmart. Numerous car dealerships which include Ford, GMC, Toyota, and Scion are located across Interstate 40 from the site. Site is also close to Tinker Air Force Base, the largest single-site employer in Oklahoma. Midwest City, OK had a 4.7% unemployment rate as of April Oklahoma City MSA population: 1,322,429.

2 Table of contents Disclaimer PAGE 1: PAGE 2: PAGE 3: PAGE 4: PAGE 5-6: PAGE 7-9: PAGE 10: PAGE 11-12: PAGE 13: COVER TABLE OF CONTENTS DISCLAIMER INVESTMENT TENANT LEASE OVERVIEW SITE PLAN PROPERTY PHOTOS AERIAL PHOTO LOCATION OVERVIEW LOCATION MAPS DEMOGRAPHICS Disclaimer EXP Realty Advisors, Inc. ( Agent ) has been engaged as an agent for the sale of the property located at 801 W. Curtis Drive Midwest City, OK by the owner of the Property ( Seller ). The Property is being offered for sale in an as-is, where-is condition and Seller and Agent make no representations or warranties as to the accuracy of the information contained in this Offering Memorandum. The enclosed materials include highly confidential information and are being furnished solely for the purpose of review by prospective purchasers of the interest described herein. The enclosed materials are being provided solely to facilitate the prospective investor s own due diligence for which it shall be fully and solely responsible. The material contained herein is based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by Agent or Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners and directors, as to the accuracy or completeness of the information contained herein. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained herein or any other written or oral communication or information transmitted or made available or any action taken or decision made by the recipient with respect to the Property. Interested parties are to make their own investigations, projections and conclusions without reliance upon the material contained herein. Seller reserves the right, at its sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Seller and Agent each expressly reserves the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawal from the market without notice. Agent is not authorized to make any representations or agreements on behalf of Seller. Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigation and/or making an offer to purchase the Property unless and until a binding written agreement for the purchase of the Property has been fully executed, delivered, and approved by Seller and any conditions to Seller s obligations hereunder have been satisfied or waived. By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents are of a highly confidential nature and will be held and treated in the strictest confidence and shall be returned to Agent or Seller promptly upon request; and (b) the recipient shall not contact employees or tenants of the Property directly or indirectly regarding any aspect of the enclosed materials or the Property without the prior written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied or otherwise reproduced without the prior written authorization of Seller and Agent. 2

3 Investment overview PRICE: $1,700,000 CAP RATE: 6.62% NET OPERATING INCOME: $112,557 TOTAL BUILDING AREA: 11,779+ Square Feet LAND AREA: Acres YEAR RENOVATED: 2013 OWNERSHIP: Fee Simple Interest OCCUPANCY: 100% Lease overview Initial Lease Term: 15-Years, Plus 2, 5-Year Options to Renew Rent Commencement: July 2013 Lease Expiration: July 2028 Lease Type: Absolute NNN Rent Increases: 10% in Lease Year 6 & Escalating Every 5-Yrs. Year 1-5 Annual Rent (Current): $112,557 Year 6-10 Annual Rent: $123,812 Year Annual Rent: $136,193 Year Annual Rent (Option 1): $149,813 Year Annual Rent (Option 2): $164,794 Right of First Offer: One Time Right of First Offer Tenant overview CH HOLD CORP. dba Caliber Collision CALIBER COLLISION Founded in 1997, Caliber Collision provides auto body repairs to customers in Texas, California, Arizona, Oklahoma, and Colorado at 129 locations, with over 3,100 employees. They are the largest non-franchised collision repair center operator in the nation and consistently rank as having one of the highest customer satisfaction scores in the industry. In 2011, Caliber Collision moved its company headquarters from Irvine, California to Lewisville, Texas (Dallas/Fort Worth). The company provides state-of-the-art technology, a 24/7 Customer Service Center, frequent status updates on your car, fair and accurate estimates and the promise of an on-time delivery are some of the differences that make Caliber the most direct route to your car s complete recovery. Every year, over 200,000 people across the nation entrust their vehicles to Caliber for unparalleled collision repair. Caliber Collision has SUBJECT PROPERTY undergone rapid recent growth through aggressively acquiring various local auto body repair shops. Caliber Collision has developed strategic PRIOR TO PANDA EXPRESS EXPANSION partnerships with 57 car dealerships throughout the U.S. in addition to 34 insurance carriers which include AAA, GEICO, Farmers, Liberty Mutual, Allstate, and USAA. Caliber Collision Centers was the only company to receive the 2013 Supplier Excellence Award from USAA. According to the company, this award recognizes a supplier that serves as a role model and goes above and beyond in delivery and performance for USAA and its members. 3

4 Site plan Office Shop 4

5 PROPERTY PHOTOS 5

6 PROPERTY PHOTOS 6

7 Aerial photo Air Depot Boulevard (24,387 Cars / Day) Midwest City High School 29 th Street (24,279 Cars / Day) Interstate 40 (65,570 Cars / Day) Tinker Golf Course Tinker Air Force Base 7

8 Aerial photo 801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City) Tinker Golf Course Air Depot Boulevard (24,387 Cars / Day) Tinker Air Force Base 8

9 Aerial photo 801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City) Midwest City High School Tinker Air Force Base Tinker Golf Course 9

10 Location overview 801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City) IMMEDIATE TRADE AREA Caliber Collision is located along W. Curtis Drive just off of Interstate 40 (65,570 Cars / Day) near the intersection of Air Depot Boulevard (24,387 Cars / Day) and 29 th Street (24,279 Cars / Day). Interstate 40 serves as the main east-west thoroughfare for the Oklahoma City MSA and traverses almost the entire width of the United States. This visibility and accessibility has transformed the area into a thriving retail corridor. The subject property is across Interstate 40 from a Sam s Club and next to the recently constructed Town Center Plaza (678,814 SF). This redevelopment project encompasses approximately 90-acres and originally contained longstanding residential and commercial structures which were cleared to make room for the new retail based Town Center Plaza. Town Center Plaza has developed into a retail complex serving the Midwest City region that consists of retail shops anchored by large-scale traditional retailers with restaurants, shops and smaller retail out parcels. This complex is anchored by Lowe s, JCPenney, Target, and Kohl s. Other big box retailers include Best Buy, Hibbett Sports, and Petsmart. Additional retailers in Town Center Plaza include Panera Bread, Starbucks, Chick-fil-A, Cheddar s, Chili s, AT&T, and Logan s Roadhouse. Numerous car dealerships which include Ford, GMC, Toyota, and Scion are located across Interstate 40 from the site. Caliber Collision is also near Tinker Air Force Base and the Oklahoma Air Logistics Complex. This installation employs over 9,400 military and civilian personnel with 98 different job skills. The complex utilizes 63 buildings and 8.2M square feet of industrial floor space in support of its mission. Midwest City High School (1,613 Students) is also near the subject property. MIDWEST CITY, OK Midwest City is located in central Oklahoma and is a suburb of Oklahoma City. The city has a population of 54,371 making it the 8 th largest city in the state. Midwest City was developed in response to talk of an air field being located nearby and named for the Tinker Air Force Base's original designation as the Midwest Air Depot. The city has always had strong ties to Tinker Air Force Base, the largest single-site employer in Oklahoma. Other large employers include the Midwest Regional Medical Center and aerospace industry businesses affiliated with the base. Midwest City had a 4.7% unemployment rate as of April OKLAHOMA CITY MSA The Oklahoma City Metropolitan Statistical Area (MSA) is a large urban region located in the central part of the State of Oklahoma and currently has a population of 1,322,429. It is often known as Oklahoma City Metro and contains the state capital and principal city, Oklahoma City which has a population of 591,967. Seven counties make up the Oklahoma City Metro Area: Canadian, Cleveland, Grady, Lincoln, Logan, McClain, and Oklahoma. The diversified economy of Oklahoma City includes information technology, general services, health services, and administration sectors in addition to the energy and government sector mainstays. The city has two Fortune 500 companies: Devon Energy Corporation and Chesapeake Energy Corporation, several others that are in the Fortune 1000 and a number of large privately owned companies. Oklahoma City is home to the corporate headquarters of Sonic Drive-In, whose office building and corporate restaurant is located in Bricktown, an intown neighborhood that has undergone a renaissance in the last decade. Devon Energy began construction in 2009 on a new 844-foot tall, 1,800,000 SF headquarters building in downtown Oklahoma City. The new skyscraper was completed in March Continental Resources moved more than 250 employees from Enid to its new headquarters in downtown Oklahoma City in Other large employers in Oklahoma City Metro include McKesson Corp., Tinker Air Force Base, the University of Oklahoma, the University of Central Oklahoma, American Fidelity, AT&T, AAA, Bank of America, Bank of Oklahoma, The Boeing Company, Braum's, Dell, The Farmer's Insurance, The Hartford, JP Morgan Chase, Mercy Heath System, Sprint/Nextel, St. Anthony Health System, Williams-Sonoma, Xerox, United Parcel Service, Cox, and the State of Oklahoma. The University of Oklahoma in Norman which is home to 30,303 students and an academic staff of 2,937 provides additional diversification to the regional economy. According to the Oklahoma City Chamber of Commerce, the metropolitan area's economic output grew by 33 percent between 2001 and 2005 due chiefly to economic diversification. Its gross metropolitan product was $43.1 billion in 2005 and grew to $61.1 billion in In 2008, Forbes magazine named Oklahoma City the most "recession proof city in America". The magazine reported that the city had falling unemployment, one of the strongest housing markets in the country, and solid growth in the energy, agricultural, and manufacturing sectors. 10

11 Location map 801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City) 11

12 Location map 801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City) 12

13 Demographics 801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City) Demographic snapshot Radius 1 Mile 3 Mile 5 Mile Population: 2017 Projection 6,399 69, , Estimate 6,204 66, , Census 6,192 66, ,570 Growth % 4.10% 4.40% Growth % 0.60% 0.80% Households: 2017 Projection 2,424 28,032 48, Estimate 2,360 27,031 46, Census 2,347 26,753 46,273 Growth % 3.70% 4.00% Growth % 1.00% 1.20% Owner Occupied 1,030 15,522 28,015 Renter Occupied 1,330 11,509 18, Avg Household Income $34,274 $47,429 $47, Med Household Income $29,082 $36,617 $36, Per Capita Income $16,497 $19,844 $19, Households by Household Inc: Income Less than $15, ,683 7,431 Income $15,000 - $24, ,418 7,369 Income $25,000 - $34, ,613 7,425 Income $35,000 - $49, ,233 8,311 Income $50,000 - $74, ,102 8,826 Income $75,000 - $99, ,900 3,661 Income $100,000 - $149, ,469 2,715 Income $150,000 - $199, Income $200, Downtown Oklahoma City, OK Tinker AFB, Midwest City, OK 13