$395,000 7,000 SF ($56 PSF) 0.9 Acres ($10 PSF) Exclusive Listing Agents: Bob Moorhead Joe Caputo

Transcription

1 Corporate Owned Store BLOCKBUSTER CLOSING WITHIN 12 MONTHS OF SUBJECT PROPERTY SALE 25 Stand Alone Stores Available Throughout the Southeastern U.S Greenville Highway Blvd. 58, SE, Chattanooga, Greenville, NC TN $395,000 7,000 SF ($56 PSF) 0.9 Acres ($10 PSF) Priced Well Below Replacement Cost Significant Upside Potential Flexibility: Re-Lease to a Single Tenant or Convert to a Multi-Tenant Building Minimize Downtime: BLOCKBUSTER will Continue Operating for 6-12 Months from COE at Buyer s Discretion Located at Highway 58 & Highway 153 Traffic in Excess of 110,000 Cars Adjacent to Kmart, Food Lion, Bi-Lo, Walgreens, CVS, Rite Aid, Bank of America 2 Miles South of Chattanooga State College 11,000+ Students Avg. HH Income (1-Mile): $69, US Census Chattanooga, TN: Borders Georgia, Alabama, Tennessee Home to Largest Utility in U.S. Exclusive Listing Agents: Bob Moorhead Joe Caputo joe@exp1031.com In association with Tennessee Broker of Record: Marc Liles License #

2 BLOCKBUSTER 4531 Highway , Highway Chattanooga, 58 Chattanooga, TN TN OFF HIGHWAY 158 INVESTMENT OVERVIEW EXP Realty Advisors and Retail Resource Group as exclusive advisors are pleased to present for sale a stand alone building currently owned and operated by BLOCKBUSTER. At buyer s discretion, BLOCKBUSTER will continue to operate at this location for up to 12 months after the close of escrow date. Both Buyer and Seller will have the right to terminate the lease with 90 days written notice. This offering provides investors with the unique opportunity to purchase a stand alone building, priced well below replacement cost and the flexibility of leasing to a single tenant or converting the space to a multi-tenant layout. This location is being sold as a part of a 25 store offering which can be purchased individually or as a portfolio. For additional information on other available BLOCKBUSTER properties please visit IMMEDIATE TRADE AREA BLOCKBUSTER is strategically located along Highway 58 (Traffic: 36,840+ Cars /Day) just off Highway 153 (Traffic: 73,246+ Cars/Day). Adjacent retailers include Kmart, Bi-Lo, Walgreens, CVS, Rite Aid, Food Lion, AutoZone, Bank of America, McDonald s, Hardee s, Sonic, Wendy s and many other national and local retailers. The subject property is just 2 miles south of Chattanooga State College with over 11,000 students. CHATTANOOGA, TN Chattanooga is located at the crossroads of three states: Alabama, Georgia, and Tennessee. Among the city s economic advantages are abundant natural resources, a strong tourism industry, a trained labor force, and a centralized location. An extensive system of highway, air, water, and rail transportation helps make the city a major transportation and distribution center. Several large companies call Chattanooga home including UNUM Provident Corp., Blue Cross/Blue Shield of Tennessee, Brach & Brock Confections, Chattem Inc., Dixie Yarns, The Krystal Company, McKee Foods Corporation, North American Royalties, and Olan Mills, Inc. The city is the headquarters for the Division of Power of the Tennessee Valley Authority (TVA), the largest utility in the United States. Chattanooga is located at the crossroads of several major U.S. highways, including Interstates 75, 24, and 59. The city is within one day s drive of nearly one-third of the major U.S. markets and population, and within 140 miles of Nashville, Atlanta, Knoxville, Huntsville, and Birmingham. Chattanooga is the distribution center for the region that includes southeast Tennessee, northwest Georgia, southwest North Carolina, northeast Alabama, and parts of several neighboring states. More than 70 motor freight lines are certified to transport shipments in the area. Two ports the Port of Chattanooga and Centre South Riverport are within city limits. Chattanooga remains an important port as a result of the TVA s system of locks and dams, and the Tombigbee waterway, which saves days, miles, and dollars on shipments to and from ports along the Ohio and Mississippi Rivers and the Gulf of Mexico. Freight rail transportation is provided by divisions of the CSX Transportation system and the Norfolk Southern Railway. Air cargo service carriers operate out of Chattanooga Metropolitan Airport/Lovell Field. OFFERING SUMMARY List Price: $395,000 Building Area: Building Price / SF: Land Area: Land Price / SF: 7,000 + SF $56 + PSF Acres $10 + PSF Year Built: 1990 Ownership: Fee Simple SHORT TERM LEASE BUYER OPTION Tenant: Term: Rent: Rent / SF: BLOCKBUSTER Inc Months* $35,000 / Year $5 + PSF * Property delivered vacant with 90 days notice COPYRIGHT ALL USE, DISCLOSURE AND/OR REPRODUCTION NOT SPECIFICALLY AUTHORIZED IS PROHIBITED. ALL RIGHTS RESERVED. Retail Real Estate Group dba Retail Resource Group and EXP Realty Advisors ( Agent ) has presented this confidential Investment Memorandum to assist the recipient in evaluating the Property and it is intended for your use only. This confidential material contains brief, selected information pertaining to the Property and shall not be considered all-inclusive or unchanged since the date of preparation. No warranty as to the accuracy or completeness is expressed or implied. The information has been received from sources believed to be reliable but is not guaranteed. Agent disclaims all liabilities in connection with any inaccuracies or incompleteness. The Buyer should independently verify each item of information and have the same reviewed by its tax advisor and/or legal counsel. The Buyer agrees that (a) the materials are of a highly confidential nature and will be held in the strictest confidence or shall be returned to Agent upon request; (b) the Buyer shall not contact any property manager, employee or tenant of the Property regarding the enclosed materials or the Property, without prior approval of Agent; and (c) the Buyer understands and agrees that Agent represents the seller and not the Buyer. Neither the seller nor Agent shall have any obligation to pay any commission, finder s fee, or other compensation to any broker or other person dealing with the Buyer. The Buyer may provide information to persons retained for the purpose of evaluating the Property after first obtaining a signed confidentiality agreement from such persons This to information keep such information has been obtained confidential. from The sources Buyer deemed shall defend, reliable, indemnify however and hold neither harmless EXP Realty the seller, Advisors, Agent and Inc. its nor affiliates Retail from Resource and against Group any guarantee, claims, demands, warranty damages, or represent liabilities, its accuracy. costs or expenses, including reasonable attorneys fees, relating to any claim for a commission, finder s fee or other compensation by any broker or other person dealing with the Buyer. The Property is being sold on an as-is, where-is and with all faults basis.

3

4

5 Tenant Overview Founded: 1985 Locations: 6,000+ Headquarters: Dallas, TX 2009 Revenue: $4+ Billion BLOCKBUSTER INC. BLOCKBUSTER Inc. (NYSE: BBI, BBI.B), is a leading global provider of in-home movie and game entertainment with over 6,000 stores throughout the Americas, Europe, Asia and Australia. The Company is one of the strongest and most recognizable entertainment brands in the world. BLOCKBUSTER's stores are a ubiquitous neighborhood feature attracting nearly 47 million customers annually. Company-operated stores are open 365 days a year generally from 10 a.m. to midnight. Merchandise selection, quantity and formats are customized at the store level to meet the needs and preferences of local customers. As the media entertainment industry has evolved, so too has BLOCKBUSTER. The Company is no longer just a chain of video stores. While transforming and diversifying its store-base continues as a company priority, BLOCKBUSTER now offers convenient access to media entertainment any where and any way consumers want it whether in stores, by mail, through vending / kiosks or digitally. BLOCKBUSTER is the only company able to provide convenient access to media entertainment across multiple channels, recognizing that the same customer may choose different ways to access media entertainment on different nights. Whether a customer selects traditional stores, by-mail, vending or digital, BLOCKBUSTER is uniquely positioned as the only provider to deliver entertainment content across all channels. On November 1, 2006, the Company introduced BLOCKBUSTER Total Access, a movie rental program that gives online customers the option of exchanging their DVDs through the mail or returning them to a nearby participating BLOCKBUSTER store in exchange for free in-store movie rentals. With BLOCKBUSTER Total Access, customers no longer have to choose between renting online or renting in-store, and they never have to be without a movie. BLOCKBUSTER has the largest in-store presence of any company in the movie rental business, a growing online presence, and the capability -- currently, the only capability in the marketplace -- to integrate bricks-and-mortar with online. The Company continues to broaden its points of presence. In 2008 BLOCKBUSTER announced an alliance with NCR (NYSE: NCR) for vending, providing customers with a new and convenient option for accessing media entertainment. There are now over 2,000 BLOCKBUSTER Express branded kiosks in the market today. Thinking beyond the box - in the first half of 2009 the Company announced strategic alliances with TiVo (NASDAQ: TIVO), Samsung and Motorola (NYSE: MOT). BLOCKBUSTER anticipates similar opportunities to position the Company as a leader in the distribution of digital entertainment. File Photo File Photo File Photo

6 Aerial Photograph Hillcrest Elementary School N 2 Miles Up Hwy 153

7 Aerial Photograph Oak Hill Rd

8 BLOCKBUSTER 4531 Highway 58 Chattanooga, TN Location Map

9 Demographic Snapshot Category 1-Mile 3-Mile 5-Mile Population: Total Population 6,350 26,302 94,008 Male Population 47.0% 47.0% 47.0% Female Population 53.0% 53.0% 53.0% Median Age Population Density (per sq. mi.) 2, ,195.6 Employees 3,732 17,836 71,766 Establishments 302 1,315 5,140 Income: Median HH Income $52,578 $51,301 $47,531 Per Capita Income $27,455 $26,015 $25,000 Average HH Income $69,241 $67,208 $64,271 Households: Total Households 2,463 10,282 35,654 Average Household Size Household Growth % 9.6% 8.5% Housing: Owner Occupied Housing Units 55.3% 57.9% 55.0% Renter Occupied Housing Units 33.2% 29.1% 31.1% Vacant Housing Units 11.5% 13.0% 13.9%