MAGNOLIA CROSSING 2501 W MAIN STREET DURANT, OK Girma Moaning Associate Advisor

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1 MAGNOLIA CROSSING 2501 W MAIN STREET DURANT, OK Girma Moaning Associate Advisor girma.moaning@svn.com SVN LAND RUN COMMERCIAL 114 NW 6TH STREET, SUITE 206, OKLAHOMA CITY, OK OFFERING MEMORANDUM

2 Disclaimer The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. MAGNOLIA CROSSING 2501 W MAIN STREET DURANT, OK SVN Land Run Commercial Page 2

3 Property Summary OFFERING SUMMARY Sale Price: $4,236,000 Cap Rate: 7.25% NOI: $307,097 Lot Size: 2 Acres Year Built: 2016 Building Size: 21,800 SF Market: Durant Traffic Count: 36,900 Price / SF: $ PROPERTY OVERVIEW New Construction Shopping Center, PROPERTY HIGHLIGHTS New Construction Retail Investment Property For Sale Highway frontage, with traffic light with turn lanes into shopping center Mix of strong national and local tenants: PetSense, Shoe Sensation, Jimmy's Egg, Firehouse Subs, Verizon and Lotus Nail Salon Tourist Destination City - 10 Million Visitors per year Ranked as one of the fastest growing cities in the State Located near Lake Texoma, the 12th largest lake in the United States Headquarters of the Choctaw Nation of Oklahoma, that generates $570 million in revenue in 2015, employing over 6,000 people Home to Southeastern Oklahoma State University, annual enrollment approx. 5,200 MAGNOLIA CROSSING 2501 W MAIN STREET DURANT, OK SVN Land Run Commercial Page 3

4 Property Description PROPERTY OVERVIEW Newly Constructed Shopping Center for Sale LOCATION OVERVIEW Durant, Oklahoma is located in southeastern Oklahoma as serves as the county seat for Bryan County on U.S. Highway 69/75 (north-south) just 95 miles north of Dallas, Texas and 20 miles north of the Texas-Oklahoma border. US Highway 70 passes through Durant from east to west providing direct access to Lake Texoma State Park, the 12th largest man-made lake in the United States with nearly 10 million visitors each year. Other nearby tourist attractions include the Choctaw Casino Resort & Fort Washita. The tourist visiting Durant enjoy a wide range of activities and cultural event. Some of these include boating, fishing and camping at Lake Texoma State Park or golfing at a local golf course, Choctaw Casino turn-of-the-century exhibits featured at Three Valley Museum, concerts, and annual events like the Magnolia Festival, Christmas in the City of a Thousand Magnolias, and Southeastern Oklahoma State University's Shakespearean Festival are also popular activities. In the past twelve years, the Durant Economic Development Department, the Durant Industrial Authority, and the City of Durant have experienced unprecedented success in recruiting over $600 million in new investments to the local community. The Choctaw Nation of Oklahoma is headquartered in Durant. The Choctaw Nation generated over $570 million in revenue in 2015, employing over 6,000 people. Additionally, Durant is home to Southeastern Oklahoma State University, annual enrollment approx. 5,200, a Big Lots 1.2 million square foot distribution center and headquarters to First United Bank, the seventh largest bank in the state of Oklahoma. MAGNOLIA CROSSING 2501 W MAIN STREET DURANT, OK SVN Land Run Commercial Page 4

5 Regional Map Magnolia Crossing MAGNOLIA CROSSING 2501 W MAIN STREET DURANT, OK SVN Land Run Commercial Page 5

6 Location Maps MAGNOLIA CROSSING 2501 W MAIN STREET DURANT, OK SVN Land Run Commercial Page 6

7 Retailer Map MAGNOLIA CROSSING 2501 W MAIN STREET DURANT, OK SVN Land Run Commercial Page 7

8 Demographics Map POPULATION 1 MILE 5 MILES 10 MILES Total population 1,141 22,235 33,050 Median age Median age (male) Median age (Female) HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES Total households 461 8,575 12,736 # of persons per HH Average HH income $49,489 $46,783 $47,185 Average house value $48,996 $94,904 $105,744 * Demographic data derived from 2010 US Census MAGNOLIA CROSSING 2501 W MAIN STREET DURANT, OK SVN Land Run Commercial Page 8

9 Demographics Report 1 MILE 5 MILES 10 MILES Total population 1,141 22,235 33,050 Median age Median age (male) Median age (female) Total households 461 8,575 12,736 Total persons per HH Average HH income $49,489 $46,783 $47,185 Average house value $48,996 $94,904 $105,744 Total Population - White ,292 25,238 % White 76.7% 77.8% 76.4% Total Population - Black % Black 0.7% 2.0% 1.6% Total Population - Asian % Asian 0.9% 0.5% 0.6% Total Population - Hawaiian % Hawaiian 0.0% 0.1% 0.1% Total Population - American Indian 65 1,339 1,821 % American Indian 5.7% 6.0% 5.5% Total Population - Other % Other 3.6% 2.1% 2.1% Total Population - Hispanic 93 1,369 1,881 % Hispanic 8.2% 6.2% 5.7% * Demographic data derived from 2010 US Census MAGNOLIA CROSSING 2501 W MAIN STREET DURANT, OK SVN Land Run Commercial Page 9