petsmart new Construction -10-year corporate lease Price per foot of $250/ft North Price Street, Clovis, NM 88101

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1 petsmart new Construction -10-year corporate lease Price per foot of $250/ft 3728 North Price Street, Clovis, NM

2 investment highlights BRAND NEW PETSMART IN CLOVIS, NEW MEXICO. IMMEDIATE AREA RETAILERS INCLUDE WALMART SUPERCENTER, LOWE S HOME IMPROVEMENT AND MANY OTHERS. PRICE: $4,645,414 CAP: 6.65% RENTABLE SF...18,443 SF PRICE PER SF...$ CURRENT RENT... $16.75/SF The subject property is located in Clovis, New Mexico, the county seat of Curry County, with a population of over 51,000. Clovis serves as the retail and service hub for a trade area of 150,000 people in Eastern New Mexico and West Texas. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Listing Team Contact Info John Andreini jandreini@capitalpacific.com (415) CA BRE# Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team. Listed in conjunction with NM Licensed Broker: Sean P. McMullan, McMullan & Company Real Estate sean@mcmullanrealestate.com (505) PETSMART 2

3 Core characteristics Clovis offers a great school system, healthcare facilities, and diverse job opportunities. Clovis is home to Cannon Air Force Base with over 5,000 active military and civilian personnel plus 5,400+ family members and 5,900+ retirees who live in the area. LEASE HIGHLIGHTS 10-year corporate lease with 10% rental increases every five (5) years. There are four (4) five (5) year options with 10% increases every five (5) years. Tenant is responsible for nonstructural components and HVAC. Landlord is responsible for roof and structure. PetSmart is the largest specialty retailer of services and solutions. The average household income exceeds $62,000 within a 1-mile radius LOCATION HIGHLIGHTS The subject property is pad to a Walmart Supercenter and across the street from Lowe s Home Improvement. Other tenants at the intersection include McDonald s, Chipotle, Buffalo Wild Wings, Applebee s, Verizon, and many others. Located at the intersection of N. Prince Street and Llano Estacado Boulevard, benefitting from a combined traffic count of nearly 36,000 vehicles per day. There are over 37,000 people within a 3-mile radius with population growth projected in one, three and five-mile radii. The average household income exceeds $62,000 within a one-mile radius. Cannon Air Force Base s total impact on the local economy in fiscal year 2015 was approximately $666.5 million as calculated by the Clovis Industrial Development Corporation. It is the largest employer in Curry County, creating 1,888 indirect jobs valued at $73.4 million in This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ surrounding area retail ] PETSMART 3

4 aerial BENEFITTING FROM TRAFFIC COUNTS OF 35,986 VPD AT THE INTERSECTION OF N. PRINCE STREET & LLANO ESTCADO BLVD WD Gattis Middle School 209 Mesa Elementary ALBUQUERQUE N Prince Street COLONIAL PARK GOLF COURSE HOUSING (44,286 RESIDENTS WITHIN 5 MILES) Llano Estacado Boulevard 24,218 DAILY 245 Barry Elementary 11,768 DAILY Los Niños Early Intervention Center Sandia Elementary East Llano Estacado Boulevard North Plains Mall Highland Elementary A Airport Highway W 21st Street Clovis High School James Bickley Elementary Yucca Middle School N Main Street Arts Academy at Bella Vista Clovis High School Freshman Academy La Casita Elementary H&R BLOCK A GOLF COURSE 209 S Prince Street PETSMART 4 70 as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied,

5 Income & expense PRICE $4,645,414 Price Per Square Foot: $ Capitalization Rate: 6.65% Total Rentable Area (SF): 18,443 Lot Size (AC): 1.00 STABILIZED INCOME Per Square Foot Scheduled Rent $16.75 $308,920 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses NNN $0.00 EQUALS NET OPERATING INCOME $308,920 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ REPRESENTATIVE PHOTO ] PETSMART 5

6 Rent roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/FT Yearly Rent/FT Petsmart 18, $308,920 $25,743 $308,920 $1.40 $ $28,325 $339,904 $1.54 $18.43 Option $30,812 $369,745 $1.67 $20.05 Option $33,898 $406,774 $1.84 $22.06 Option $37,288 $447,451 $2.02 $24.26 Option $41,012 $492,142 $2.22 $26.68 Totals: 18,443 $308,920 $25,743 $308,920 $1.40 $16.75 *Store Opening September 2017 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ surrounding area retail ] PETSMART 6 [ REPRESENTATIVE PHOTO ]

7 Site plan SITE PLAN KEY PARCEL OUTLINE: RENTABLE AREA: 18,443 SF INGRESS/EGRESS: NOT A PART Arizona Street Texas Street This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. PETSMART 7

8 zoomed-out site plan COLONIAL PARKWAY TEXAS STREET ARIZONA STREET ARIZONA STREET PRINCE STREET LLANO ESTACADO BOULEVARD PETSMART 8 This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.

9 Tenant overview [ REPRESENTATIVE PHOTOs ] ABOUT PETSMART PetSmart, Inc. is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. In March 2015, a group of private equity firms led by BC Partners took the company private in a deal worth $8.7 billion. PetSmart employs approximately 55,000 associates and operates more than 1,500 pet stores in the United States, Canada and Puerto Rico, as well as more than 200 in-store PetSmart PetsHotel dog and cat boarding facilities. PetSmart provides a broad range of competitively priced pet food and products, as well as pet-focused services such as dog training, pet grooming, pet boarding, PetSmart Doggie Day Camp, and pet adoption. PetSmart, together with nonprofits PetSmart Charities and PetSmart Charities of Canada, invite more than 3,000 animal welfare organizations to bring adoptable pets into stores so they have the best chance possible of finding a forever home. Through this instore adoption program and other signature events, PetSmart has facilitated more than 7.4 million adoptions more than any other brickand-mortar organization. $7 BILLION 2016 REVENUE 1,500+ TOTAL LOCATIONS PetSmart, Inc. is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. PETSMART 9

10 demographics & map PETSMART LOCATION POPULATION 1-Mile 3-Mile 5-Mile ,408 34,996 40, ,475 37,451 44, ,543 38,714 46,058 24,218 DAILY 2017 HOUSEHOLD INCOMES 11,768 DAILY 1-Mile 3-Mile 5-Mile Average $62,181 $57,298 $55,345 Median $53,256 $42,504 $40,315 REGIONAL MAP TOP EMPLOYERS IN CURRY COUNTY, NM Cannon AFB Active Duty Personnel Allsup s Convenience Stores Clovis Municipal Schools Community Homecare Plains Regional Medical Center ALBUQUERQUE 219 MILES CLOVIS 100 MILES This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. LUBBOCK PETSMART 10

11 Clovis, NM Clovis is the county seat of Curry County, New Mexico., and serves as the retail and service hub for a trade area of 150,000 people in Eastern New Mexico and West Texas. Like most of east-central New Mexico and west Texas, the surrounding area plays host to significant agriculture and ranching activities, including peanut and cotton farming and cattle ranching used for both meat and dairy production. The economy of Clovis is supported by three basic industries: agriculture, military, and railroad. Clovis is home to Cannon Air Force Base with over 5,000 active military and civilian personnel plus 5,400+ family members and 5,900+ retirees who live in the area. Cannon Air Force Base s total impact on the local economy in fiscal year 2015 totaled approximately $666.5 million as calculated by the Clovis Industrial Development Corporation. It is the largest employer in Curry County creating 1,888 indirect jobs valued at $73.4 million in Clovis also acts as a medical hub for more than 110,000 rural residents in Eastern New Mexico and West Texas, and Plains Regional Medical Center (PRMC) is the focal point for those services. PRMC, the largest hospital between Lubbock and Albuquerque, is a vital part of Clovis and eastern New Mexico, employing more than 600 caring staff and providers. The BNSF Railway operates a division point and large freight classification yard on its Southern Transcon at Clovis. This 235-mile rail corridor is one of the most heavily trafficked routes in the western United States, often with more than 100 mostly intermodal freight trains arriving and leaving Clovis daily. REGIONAL MEDICAL HUB Plains Regional Medical Center is an acute care hospital located in Clovis, New Mexico, about 90 miles from Amarillo and Lubbock, Texas. As a not-forprofit hospital with 106 licensed beds, PRMC exists to improve the health of the patients, members, and community in Eastern New Mexico and West Texas. Plains Regional Medical Center is one of eight hospitals run by Presbyterian Medical Group, which also has a statewide health plan and a growing multi-specialty medical group. Founded in New Mexico in 1908, it is the state s largest private employer with approximately 11,000 employees. U.S. Highways 60/84 and 70 intersect with New Mexico Highway 209 in Clovis, connecting businesses and visitors to the entire Southwest. The Clovis Municipal Airport offers daily flights from Clovis Municipal Airport to Dallas/Fort Worth Corporate Aviation terminal. An aggressive five-year plan has been adopted to keep pace with the demands needed by Cannon Air Force Base and the growing population of Clovis. [ PRMC Clovis, nm ] This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. PETSMART 11

12 [ surrounding area retail ] JOHN ANDREINI jandreini@capitalpacific.com (415) CA BRE# Listed in conjunction with NM Licensed Broker: Sean P. McMullan, McMullan & Company Real Estate sean@mcmullanrealestate.com (505) Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team. CHRIS KOSTANECKI CHRIS PETERS DAVE LUCAS ZANDY SMITH JACK NAVARRA ZEB RIPPLE JOE CACCAMO RICK SANNER AARON SUSMAN [ Copyright 2017 Capital Pacific ]