OFFERING MEMORANDUM. 8,131 RSF Convenience and Commuter Retail Center BELLE CREEK CORNER SHOPS. NWC of 104th Avenue & US 85, Commerce City, Colorado

Transcription

1 OFFERING MEMORANDUM 8,131 RSF Convenience and Commuter Retail Center BELLE CREEK CORNER SHOPS NWC of 104th Avenue & US 85, Commerce City, Colorado RELATIONSHIPS Commercial Real Estate Advisors INNOVATION STRATEGY EXECUTION 188 Inverness Drive West, Suite 150 Englewood, CO

2 TABLE OF CONTENTS Confidential Memorandum & Disclaimer Executive Summary Tenant Summaries Market Information, Demographics & Traffic Counts Financial Analysis Sales Comparables Photo Gallery Contact Information Belle Creek Corner Shops Offering Memorandum PAGE 2

3 CONFIDENTIAL MEMORANDUM & DISCLAIMER Belle Creek Corner Shops, LLC is Seller and RISE Commercial Real Estate Advisors is Agent. Belle Creek Corner Shops are 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, including related files and documents, contained in this Offering Memorandum, or as provided otherwise (the materials or information ). The materials include highly confidential information and are being furnished solely for the purpose of review by prospective purchasers of the property interest described herein. The materials are not to be used for any other purpose or made available to any other person without the express written consent of the Seller. The use of this Offering Memorandum and the information provided is subject to the terms, provisions and limitations of the confidentiality agreement furnished by Agent, prior to delivery of this Offering Memorandum. The enclosed materials were prepared in September, 2017 and are being provided solely to facilitate the prospective investor s own due diligence for which it shall be fully and solely responsible. The Offering Memorandum does not constitute a representation that there have been no changes in the business or affairs of the property since the date of its preparation. These materials are 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, members, partners, and directors, as to the accuracy or completeness of the information contained herein. Further, nothing shall be relied on as a promise or representation as to future performance of the Property. Summaries 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. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information 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 materials provided by Seller or Agent. All parties to real estate transactions should be aware of the health liability and economic impact of environmental factors on real estate. The Americans with Disabilities Act is intended to make many business establishments equally accessible to persons with a variety of disabilities; modifications to real property may be required. State and local laws also may mandate changes. Seller and Agent do not conduct investigations or analysis of these matters and, accordingly, urge you to retain qualified professionals for investigation and evaluation. 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 reserve the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or 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 to 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 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 thereunder have been satisfied or waived. By taking possession of and reviewing the information, the recipient agrees that (a) the 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 or if you have no interest in the Property at this time; and (b) the recipient shall not contact employees or tenants of the Property directly or indirectly regarding any aspect of the materials or the Property without the prior written approval of the Seller or Agent; and (c) no portion of the materials may be copied or otherwise reproduced without the prior written authorization of Seller or Agent or as otherwise provided in the Confidentiality Agreement executed and delivered by the recipient(s) to RISE Commercial Real Estate Advisors. Belle Creek Corner Shops Offering Memorandum PAGE 3

4 EXECUTIVE Investment Highlights 1 Price and Return Offering Price: $3,700,000 Price Per Square Foot: $455 Stabilized Cap Rate: Pro Forma 5-Year Leveraged IRR: 17.06% Pro Forma 5-Year Equity Multiple: 2.0x Pro Forma 5-Year Leveraged IRR: 15.48% Pro Forma 5-Year Equity Multiple: 3.2x 6.0% (year 2 of hold period upon expiration of free rent period for Papa John s) 2 High Volume Convenience AND Commuter Retail Located at the primary crossroads of the region; US 85 and 104th Avenue, generating 60,000 ADT ± and convenient through signalized intersections. Exploding growth of quality demographics, all infill to the last geographically constrained growth area inside of the Denver Metroplex. Kroger selected this trade area for their largest concept; Colorado s first King Soopers Marketplace 3 New, well designed Large-stack drive-thru on end cap High parking ratio; 8/1,000 Perfect Bay Depth Large signage and two roadside monuments Supplemental solar electricity All new high quality materials % leased, NNN rents already value-add from accelerating market Mix of 6 National, Regional and Local Tenants Six tenants diversify a strong mix of popular brands. These include Subway, Papa John s Pizza, Ziggi s Coffee, Neighbor s Hair, Luminous Nails and Belle Creek Wine & Liquor. In addition, adjacent Belle Creek pads feature McDonald s, Taco Bell, 7-11, Conoco and the Belle Creek Car Wash. Belle Creek Corner Shops Offering Memorandum PAGE 4

5 EXECUTIVE (continued) N Adjacent Retail and Traffic Counts 104TH AVENUE 16,000 VPD 42,000 VPD PAD AVAILABLE PAD AVAILABLE BELLE CREEK BLVD. Belle Creek Corner Shops DRIVE-THRU PICK-UP WINDOW PAD UNDER CONTRACT DRIVE-THRU ORDER DRIVE-THRU LINE Belle Creek Corner Shops Offering Memorandum PAGE 5

6 EXECUTIVE (continued) Overview NEW 8,131 SF CONVENIENCE CENTER 100% LEASED DRIVE THRU RISE Commercial Real Estate Advisors, as Agent for the Seller, is pleased to present the opportunity to acquire the Belle Creek Corner Shops, a 8,131 SF Convenience and Commuter Retail Center located at the Northwest corner of 104th Avenue and US 85 in Commerce City, Colorado (The Property ), one of the most welltraveled intersections in the region. Belle Creek Corner Shops are 100% leased to six tenants, including two national brand retailers Subway and Papa John s. The Property is part of the commercial component of the Belle Creek community known as Belle Creek Corner. The Community is well awarded for its new urbanist design and unique amenities in a setting of over 900 single family, townhome and multifamily homes. The geographic and infill characteristics of the property make it truly a one-of-a-kind location. 104th is one of the few crossings of the South Platte River, and stretches from C-470 (DIA) to I-25. US 85 is the primary feed to the bedroom communities between downtown Denver and Greeley. The traffic flow by and through the Center is amazing. Property Name Address Leaseable Area Number of Tenants Parking Surface Handicap Total Ratio Year of Construction Active Solar Electrical Supplementation Zoning Property Information Belle Creek Corner Shops Belle Creek Boulevard Commerce City, CO 8,131 SF 6 of 6 units /1, Yes PUD Use Area D Commercial and Church. Commerce City, County of Adams, State of Colorado Adams County Commercial Property Profile Parcel Number Belle Creek Corner Shops Offering Memorandum PAGE 6

7 N EXECUTIVE (continued) Location Map TO FT. COLLINS 120th Avenue Belle Creek Corner Shops TO GREELEY 104th Avenue 104th Avenue ROCKY MOUNTAIN ARSENAL NATIONAL WILDLIFE REFUGE Tower Road Pena Blvd. DENVER INTERNATIONAL AIRPORT DOWNTOWN DENVER Brighton Blvd. Belle Creek Corner Shops Offering Memorandum PAGE 7