Exclusive Offering Memorandum

Transcription

1 135 West Wells Street, Suite 200 Milwaukee, WI RealEstate.com Exclusive Offering Memorandum Presented By: Beau Beach, CCIM CPM Direct: $1,995, acres 9,900 SF retail building has already been built and is occupied by Momentum Fitness Located at great corner of Appleton Avenue (Hwy 175) and Holy Hill Rd (Hwy 167) in Richfield Richfield Commons, a Mixed-Use Development Richfield, WI Richfield Commons is a proposed mixed-use development on 15 acres in Richfield, WI. A 9,900 SF building is complete and fully occupied by Momentum Fitness. Two additional 40,400 SF flex buildings are being proposed. These buildings were inspired by the award winning Eastgate Business Center in Brookfield. Next, another 9,900 SF retail building is proposed next to the Momentum Fitness building. Finally, a 30,000 professional services single story office building is proposed on the corner of the site. One storm water retention pond has already been completed. In addition, the state has plans to add a roundabout to this corner, add pedestrian sidewalks to Appleton Avenue and add improved landscaping as depicted in the plan. These improvements will make this project even more desirable. Great signage on the corner of Appleton and Holy Hill Road with substantial traffic counts. The owner of the site is preparing for retirement and is ready to hand the site off to a capable developer to see it through to its completion. Contact Beau at or Beau.Beach@ProwessCRE.com for more information.

2 Disclaimer The information contained in this Offering Memorandum ( Brochure ) is confidential and is provided for the sole purpose of allowing persons to evaluate whether there is interest in proceeding with further discussions with the Owner regarding a possible transaction with respect to the subject property (the Property ). The information contained herein shall not be photocopied or disclosed to any other party and shall not be used for any other purpose. If the person receiving this Brochure does not elect to pursue such a transaction, same person agrees that this material is to be returned to Prowess Real Estate Companies LLC ( Broker ). Neither the Owner, nor Broker, nor any of their respective officers, directors, partners, employees, agents or affiliates, assume any responsibility or make any representations or warranties, whether express or implied, by operation of law or otherwise, with respect to the Property or this Brochure or any information or statements (including financial statements and projections) contained herein or relating hereto, including but not limited to the accuracy or completeness of such information or statements and the condition, quality or fitness of the Property. Such information and statements have in many circumstances been obtained from outside sources, have not been tested or verified and may be subject to errors or omissions. Projections, in particular, are based upon various assumptions and subjective determinations as to which no guaranty or assurances can be given. Without limiting the foregoing, in the event this Brochure contains information relating to asbestos or any other hazardous, toxic or dangerous materials in relation to the Property, such information shall in no manner be construed as creating warranties or representations, express or implied, by operation of law or otherwise, by any party, as to the existence or non-existence or nature of such materials in, under, on or around the Property. Potential investors must perform their own examination and investigation of the Property and information relating to the Property and in its operations, and shall rely solely on such examination and investigation and not on this Brochure or any information or materials contained herein or otherwise provided in making their decisions on whether to proceed with a transaction. The Property is being sold as is by the respective Owner, without representation or warranty as to condition or profitability. The only party authorized to represent the Owner of the Property is Broker, and Owner shall not be obligated to pay any fees or commissions to any other advisor, broker or representative. Any party entering into a transaction with Owner shall be obligated to pay any fees or commissions due any advisor, brokers or representatives, other than Broker, dealing with such a party. This Brochure is provided subject to prior sale or lease, change of price or terms and other changes to the materials, statements and information contained herein or relating to the Property, and is subject to withdrawal, all without notice or liability. In no event shall the delivery or receipt of this Brochure be deemed to create any legal obligation to enter into any transactions with respect to the Property, and only a definitive agreement signed by all parties shall create a binding commitment to enter into a transaction.

3 Who is Prowess Commercial Real Estate Services? We are a locally owned and operated commercial real estate services company with offices in downtown Milwaukee, West Allis and Racine. The services we provide are: Sales Brokerage Tenant Representation Leasing Brokerage Property Management and Maintenance Sale-Leasebacks 1031 Tax Free Exchanges It s no secret that our competitive advantage is our people. We leverage our collective expertise and connections to the benefit our clients. We don t accept all clients. In fact, we re very selective of the clients and projects we take on. We re careful to only accept the projects we know we ll be successful with and our clients really appreciate that. If you would like to discuss working together please contact me at or Beau.Beach@ProwessCRE.com Sincerely, Beau Beach, CCIM CPM President Great Property Management Pays For Itself Expect More From Your Broker

4 Transaction Guidelines Following the distribution of materials, Prowess Commercial Real Estate Services, will be available to assist prospective investors with on-site inspections of the property and in the review of the information contained in the Offering Memorandum. The property is being sold on an As-Is, Where-Is basis, and the seller makes no representations or warranties whatsoever as to any condition of the property, the property s systems, the serviceability or fitness for a particular use, any component of the property or the presence of defects therein, latent or otherwise. All offers should include the following: The offer price; A description of the investor and its source of capital for the acquisition; The amount of earnest money deposit; An outline of the proposed schedule for due diligence and closing; Description of any contingencies or due diligence requirements; and A description of any physical or environmental assumptions affecting the price being offered. Contacts: Beau Beach, CCIM CPM Direct: Beau.Beach@ProwessCRE.com

5 Executive Summary The Offering Property Property Size Existing Buildings Prowess Commercial Real Estate Services, on behalf of the owner of record, is offering for sale a 100% fee simple interest in the mixed use development known as Richfield Commons State Hwy 167 in Richfield, WI acres One 9,900 SF building has been completed and is fully occupied by Momentum Fitness Offering Price $1,995,000 Year Built Existing building constructed in 1999 Water/Sewer Tax Key Leases Freeway Access Traffic Counts Proposed Site Plan Water is private well. Sewer is septic tank. V D Momentum Fitness is on a month-to-month lease. Their rent is $4000 per month and they are responsible for all utilities and interior maintenance. Access to the 41/45 Freeway is just minutes away at the Holy Hill Road exit It is estimated that 9600 vehicles pass the site every day on Holy Hill Road (Hwy 167). An additional 5500 vehicles pass the site on Appleton Avenue (Hwy 175) The site plan presented in this Offering Memorandum is for marketing purposes only. No guarantee is being provided that the village will approve the proposed plan or that the plan is fully code and zoning compliant. Prospective buyers are required to do their own due diligence.

6 Property Photos

7 Aerial Maps

8 New Roundabout Plan