Offering Memorandum. Prepared by: 2425 S. Stoughton Road, Madison, WI

Transcription

1 Offering Memorandum 2425 S. Stoughton Road, Madison, WI Prepared by: Craig P. Stanley, CCIM Broadwing Advisors, LLC (608) University Avenue, Suite 106 Madison, WI 53705

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 Broadwing Advisors ( 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 Table of Contents I. Executive Summary Project Summary Investment Summary Transaction Guidelines Contact II. Property Overview Property Description Site Photos Site Plans Area Maps Aerial Photography Parcel Map III. Market Overview Market Report Market Overview

4 Executive Summary Project Summary The Offering Broadwing Advisors, on behalf of ownership, is offering for sale the property located at 2425 S. Stoughton Road on the east side of Madison, WI. Property is being offered in As-Is condition. Property Parcel Number Legal Description Lot 1 CSM No Site Size.99 Acres / 43,087 square feet Frontage Road 170 feet Zoned SE Suburban Employment District Building Building Size 20,384 square feet o 15,000 square foot show room o 5,384 square foot warehouse Material Steel frame construction HVAC Forced air with central A/C Dock Doors One dock door Exterior Doors Four Age Built in 1953 / Renovated in 2001 HVAC Forced Air, Central A/C 400+ Amps Utilities Water, gas, electric Investment Summary Offering Price $835,000 Price per Square Foot $40.96

5 Executive Summary (continued) Transaction Guidelines Following the distribution of materials, Broadwing Advisors will be available to assist prospective investors with onsite inspections of the property and in the review of the information contained in the Offering Memorandum. 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; A description of any physical or environmental assumptions affecting the price being offered. Contact All inquiries and offers related to this solicitation should be made directly to the following: Broadwing Advisors, LLC 2631 University Avenue, Suite 106 Madison, WI (608) Craig P. Stanley, CCIM (608) craig@broadwing-advisors.com Deana J. Porter (608) deana@broadwing-advisors.com

6 Property Overview Property Description Location The steel frame building located at 2425 South Stoughton Road is situated just north of the intersection of Stoughton Road and Pflaum Road in Madison, WI. The property is on the east side of Madison in a well-traveled vehicle corridor. Stoughton Road has 42,000 cars per day. Property Attributes Convenient to Highway 51 (Stoughton Road) and the Beltline (Highways 18/151/14/12) Commercial corridor is exposed to 42,000 cars per day Back-in dock Interior retail and office space in good condition Ample outdoor parking ~74% retail and office space Zoning The Property is currently zoned SE Suburban Employment District Parcel Number Assessed Value Current Taxes: $ 22,199 Assessed Value: $ 920,000 o Land: $ 196,000 o Improvements: $ 724,000 Vacancy 100% vacant

7 Site Photos

8 Site Survey Map

9 Area Maps

10 Stoughton Road Aerial Photography Pflaum Road

11 Retail Market Overview Fourth Quarter 2015 Through the fourth quarter of 2015, the Madison retail market absorbed 100,909 square feet. The East submarket experienced the largest net gains of the quarter with 70,813 square feet absorbed. Average asking rates are up $1.54/SF from the $11.90/SF reported last quarter to $13.44/SF at the end of Year-to-date, asking rates are up $1.62/SF from the $11.82/SF reported at the end of Vacancy Rates & Asking Rates Information courtesy of Xceligent, Q4 2015

12 Industrial Market Overview Fourth Quarter 2015 Through the fourth quarter of 2015, the Madison industrial market absorbed 224,939 square feet. Light Industrial out performed Warehouse-Distribution and Flex/R&D this quarter, with 150,130 square feet absorbed, 65,608 square feet absorbed, and 9,201 square feet absorbed, respectively. Overall asking rates are up $.62/SF over last year, from the $5.51/SF reported at the end of 2014, to $6.13/SF at the end of Vacancy Rates & Asking Rates Information courtesy of Xceligent, Q4 2015