Exclusive OFFERING $943, % CAP Speedy Cash

Transcription

1 REPRESENTATIVE PHOTO Exclusive OFFERING $943, % CAP BOB MOORHEAD JOE CAPUTO RUSSELL SMITH property. 2,406+ SF building on acre site tenant. Lessee: 230+ locations in the US, Canada, and UK. lease structure. 10-year corporate absolute NNN lease with (2) 5-year options and 10% rent increase every 5-years during base term and option periods. location. is located at the intersection of Santa Maria Ave (12,966 Cars / Day), W Del Mar Blvd (29,984 Cars / Day), and San Bernardo Ave, which serves as a frontage road to I-35 (91,947 Cars / Day). With a dense local population, close proximity to the border, and access to major transportation routes, the area has flourished with continual development and growth. is located west of a major shopping center that is home to tenants such as Best Buy, Target, HEB, Bed Bath & Beyond, Pier 1 Imports, Old Navy, Marshalls, Payless, IHOP, Whataburger, McDonalds, and many more. Other notable tenants in the area include Walmart, Home Depot, Lowes, Academy Sports & Outdoors, Kohl s, Toy s R Us, and Mall de Norte. Mall de Norte (1.2 million sf), located 1.5-miles south of the site, is home to 120+ tenants and is anchored by Dillard s, JCPenny, Macy s, Bealls, and Sears. Laredo is 150-miles southwest of San Antonio.

2 Table of contents Disclaimer PAGE 1: PAGE 2: PAGE 3: PAGE 4-6: PAGE 7: PAGE 8: PAGE 9: PAGE 10-11: PAGE 12: COVER TABLE OF CONTENTS DISCLAIMER INVESTMENT TENANT LEASE OVERVIEW AERIAL PHOTOS SITE PLAN SITE RENDERING LOCATION OVERVIEW LOCATION MAPS DEMOGRAPHICS REPRESENTATIVE PHOTO SUBJECT PROPERTY Disclaimer EXP Realty Advisors, Inc. ( Agent ) has been engaged as an agent for the sale of the property located 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: $943,000 CAP RATE: 7.00% NET OPERATING INCOME: $66,000 BUILDING AREA: 2,406+ Square Feet LAND AREA: Acres YEAR BUILT RENNOVATED: LANDLORD RESPONSIBILITY: None OWNERSHIP: Fee Simple Interest OCCUPANCY: 100% Lease overview Initial Lease Term: 10-Years, Plus 2, 5-Year Options to Renew Rent Commencement: Estimated August 2014 Lease Expiration: Estimated August 2024 Lease Type: Absolute NNN Rent Increases: 10% in Lease Year 6 & Each Option Period Year 1-5 Annual Rent (Current): $66,000 Year 6-10 Annual Rent: $72,600 Year Annual Rent (Option 1): $79,860 Year Annual Rent (Option 2): $87,846 Tenant overview SCIL TEXAS LLC, d/b/a SPEEDY CASH is one of the largest, fastest growing providers of short-term loans and financial services in the United States, Canada, and the United Kingdom. In 1997, the first store opened in Riverside, California. was founded by three childhood friends from Wichita, Kansas. Thanks to their determination to be better and strong entrepreneurial spirit (which is very much alive in the company today), is an American success story. will grow well beyond 250 stores in the USA, Canada, and UK. has distinguished itself from competitors with quality product offerings, genuine Customer Service, robust operating systems, a state-of-the-art call center, and a track record of new product innovation. Holds Corp offers a variety of alternative financial related services and products to their customers needs. Services include cash advances, installment loans, vehicle title loans, check cashing, gold buying, money transfer services, reloadable prepaid debit cards and a number of other ancillary financial products and services. Employees are excited to be a part of the family, as witnessed by low turnover rates and energized Company culture. The company has consistently SUBJECT grown PROPERTY well ahead of other payday loan lenders and is primed for continued growth and enduring success. PRIOR TO PANDA EXPRESS EXPANSION operates under two principal brands in the U.S. as either or Rapid Cash. They operate in the U.K. as and their principal brand operates in Canada as Cash Money. As of December 31, 2011 they operated a total of 102 US retail locations in ten states under and Rapid Cash brands. They also have a significant internet presence and offer loans online in 22 states. In May 2011, the company acquired 114 Cash Money stores to establish a presence in Canada and as of December 2011 operated 120 retail locations in Canada. In 2011 the company began offering loans in the U.K and continues to expand its presence with the opening of stores in 2012 and

4 AERIAL PHOTO Mary Help of Christians School Nye Elementary School Industrial & Manufacturing Area 4

5 AERIAL PHOTO Mary Help of Christians School Nye Elementary School Industrial & Manufacturing Area 5

6 AERIAL PHOTO 6

7 SITE PLAN 7

8 SITE RENDERING 8

9 Location overview IMMEDIATE TRADE AREA is located at the intersection of Santa Maria Ave (12,966 Cars / Day), W Del Mar Blvd (29,984 Cars / Day), and San Bernardo Ave, which serves as a frontage road to I-35 (91,947 Cars / Day). Santa Maria Ave is a major north-south thoroughfare that serves the northern and southern tips of Laredo, while W Del Mar Blvd is a major passageway that connects east and west Laredo, spanning east from I-35 to the Bob Bullock Loop in the west. I-35 is a north-south Interstate Highway in the central United States, at 1,568 miles, I-35 is the third longest northsouth Interstate Highway in the nation. This accessibility and visibility has spurred extreme growth and development in the immediate trade area. The subject property is located in a growing retail hub of Laredo. With a dense local population, close proximity to the border, and access to major transportation routes, the area has flourished with continual retail development and growth. is located just west of a major shopping center that is home to tenants such as Best Buy, Target, HEB, Bed Bath & Beyond, Pier 1 Imports, Old Navy, Marshalls, Payless, IHOP, Whataburger, McDonalds, and many others. Other notable tenants in the area include Walmart, Home Depot, Lowes, Academy Sports & Outdoors, Kohl s, Toy s R Us, Peto, Olive Garden, Chili s, Krispy Kreme, Buffalo Wild Wings, and Mall de Norte. Mall de Norte (1.2 million sf), located just 1.5-miles south of the site, is a super-regional shopping mall in Laredo, TX. The mall is home to 120+ tenants and is anchored by Dillard s, JCPenny, Macy s, Bealls, and Sears. LAREDO, WEBB COUNTY, TEXAS Laredo is the county seat of Webb County, Texas, and is located on the north bank of the Rio Grande River is South Texas. According to the 2010 census, the city population was 236,091 making it the 3 rd most populated city on the United States- Mexico border after San Diego, California and El Paso, Texas. Laredo is one of the oldest border crossings points along the US-Mexico border, and the nation s largest inland port of entry. Laredo s economy is based heavily on international trade with Mexico. Most major transportation companies have facilities in Laredo. Laredo s location, along the southern end of IH 35, which bisects the city, is close to major manufacturing and industrial centers in North Mexico. Forbes currently has Laredo listed as the 146 th best city in The United States for Business and Careers. Projected annual job growth for the area is 2.7%. LAREDO-NUEVO LAREDO MSA The Laredo-Nuevo Laredo Metropolitan Statistical Area, also known as Two Laredos or Laredo Borderplex, is made up of Webb County in Texas and three municipalities in Mexico: Nuevo Laredo in Tamaulipas; Hidalgo in Coahuila; and Anahuac in Nuevo Leon. The MSA has a population of 775,481 as per the 2010 INEGI and United States Censuses. The statistical area is ranked the 157 largest in the western hemisphere: 66 th in the United States; and 23 rd in Mexico respectively. The Laredo-Nuevo Laredo port of entry has five international bridges spanning the Rio Grande over which 12,000 commercial trucks and 1,000 rail cars travel daily. More than 47% of United States international trade headed for Mexico and more than 36% of Mexican international trade crosses through the Laredo-Nuevo Laredo port of entries, which lends to large commercial and industrial warehouse, import, and export facilities on each side of the border. Goods shipped through Laredo travel to more than 60 countries world-wide. Trade heavily influences each cities economy, and during the 2008 economic recession Laredo s economy expanded, boosted by strong trade with Mexico. Retail also helps to drive the Laredo-Nuevo Laredo economy as the borderplex attracts shoppers from Northern Mexico, including Monterrey, and across South Texas. Two indoor shopping malls and dozens of open air plaza retail centers compete to attract the thousands of visitors from Mexico who flock to Laredo each day to buy clothing and electronics at half the price of what it would cost them in Mexico. Laredo boasts the #1 Wal-Mart (based on sales per SF) in the United States. Wal-Mart, Best Buy, Academy Sports and Outdoors, HEB Plus, Hobby Lobby, and TJ Maxx have opened multiple stores in Laredo to fill the growing demand for retail in the region. Laredo also draws international shoppers from nearby Monterrey, the 9 th largest and 2 nd richest city in Mexico, 130 miles to the south. Monterrey has the highest per capita income, is the most developed city, and is considered the most Americanized in Mexico. LAREDO FAQs #1 Inland Port on US-Mexico Border #6 Largest US Customs District Laredo ranked #5 for exports and #7 for imports in the US. $ billion in trade in Fiscal 2010 NAFTA Gateway for Air Cargo #1 Railroad Interchange Point on US-Mexico Border Serviced by 2 Class 1 Railroads: Union Pacific and Kansas City Southern Over 40 Million SF of Logistical/Distribution Space 40% of all US-Mexico Trade Crosses Through Laredo 12,000+ Daily Commercial Truck Crossings 1,000+ Daily Railcar Crossings Lowest Unemployment Rate on US-Mexico Border Only Recession-Proof MSA in the US in 2003: th best place in the USA for Business and Careers Forbes,

10 Location map 10

11 Location map 11

12 Demographics Demographic snapshot Radius 1 Mile 3 Mile 5 Mile Population: 2019 Projection 6, , , Estimate 5,628 95, , Census 5,266 93, ,417 Growth % 6.64% 7.21% Growth % 3.03% 4.91% Households: 2019 Projection 1,975 29,768 54, Estimate 1,829 27,890 50, Census 1,699 27,053 48,027 Growth % 6.73% 7.29% Growth % 1.14% 2.02% Owner Occupied 1,012 16,330 30,678 Renter Occupied ,560 19, Avg Household Income $66,587 $51,887 $53, Med Household Income $47,071 $40,126 $40, Households by Household Inc: <$25, ,610 17,526 $25,000 - $50, ,757 11,709 $50,000 - $75, ,390 9,213 $75,000 - $100, ,945 5,111 $100,000 - $125, ,325 3,051 $125,000 - $150, ,614 $150,000 - $200, ,383 $200, DOWNTOWN LAREDO, TX 12

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