Station West Shopping Center

Transcription

1 P r o p e r t y I n f o r m a t i o n Blakely, Georgia Investment Highlights 100% leased, stabilized center 5 regional credit tenants occupy over 82% of center. is a 81,600 square foot community shopping center with several prominent regional retailers including: Fred s, Variety Wholesalers (Maxway), Farmer s Furniture, Citi Trends, and Hibbetts Sporting Goods. The center is 100% occupied. 1 CMM Realty, LLC Atlanta, Georgia Charles Mixon, Co-owner/Broker , ext. 22 Bill Mixon, Co-owner/Broker

2 I n v e s t m e n t O v e r v i e w y The landlord has recently completed a $150,000 renovation of the facade as part of the deal with Hibbetts to lease space in the center. Station West has a new updated look with a new stucco-type facade.. Blakely is the county seat for Early County. Station West Shopping Center is located on the growing west side of GA wy 62/Columbia Road. The strong location is evidenced by a new CVS free-standing pharmacy that was just completed nearby. Early County is the largest producer of peanuts in the U.S., and is also one of the nation s largest producers of cotton. The county is also a hunting mecca where the plentiful quail, dove, turkey and deer populations draw thousands of seasonal hunters. For more information:

3 R e n t R o l l H i b b e t t s p a y s a n a d d i t i o n a l $ a m o n t h C A M Va r i e t y p a y s % r e n t. T h e y p a i d a n a v e r a g e o f $ f o r t h e l a s t 1 2 m o n t h s. T h e y p a y a n a d d i t i o n a l $ p e r m o n t h C A M. M a x w a y b a s e r e n t i n c r e a s e s i n M a y

4 F i n a n c i a l S u m m a r y LOCATION 800 Columbia Rd (Hwy 62) Blakely, GA SUMMARY Price $2,600,000 Gross Leasable Area (GLA) 81,600 Price/Square Foot $31.86 Current CAP Rate 8.90% Year Built/Renovated 1980/2006 Lot Size acres Type of Ownership Fee Simple ANNUALIZED OPERATING DATA Scheduled Rent $249,965 Vacancy 1,200 sf Percentage Rent 6,044 Total Expense Reimbursements 12,238 Gross Income $268,248 Less: Expenses 35,099 Net Operating Income (NOI) $233,148 EXPENSES CAM $4,755 Taxes 16,049 Insurance 7,662 Utilities 6,632 Parking Lot Maintenance 4,755 TOTAL EXPENSES $35,099

5 P r o p e r t y S u m m a r y THE OFFERING Property Station West Shopping Ctr Property Address 800 Columbia Rd. (Hwy 62) Zoning C, Commercial (any commercial use) SITE DESCRIPTION & CONSTRUCTION Number of Stories 1 Year Built 1980 Building Area 81,600 sf Lot Size acres Type of Ownership Fee Simple Parking 353 spaces Parking Ratio 4.32/1,000 Foundation Frame Exterior Parking Surface Roof Topography MECHANICAL HVAC Utilities Reinforced concrete slab Concrete block Concrete block/brick veneer, alum. frame Asphalt Flat, built-up tar and gravel Gently sloping Roof mounted, forced air All available INTERIOR DETAIL Ceilings Floor Coverings 10 /12 Suspended frame with 2 x 4 acoustical drop-in Concrete

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7 L o c a t i o n & R e g i o n a l M a p s LOCATION Blakely, GA is located 75 miles south of Columbus, GA, 28 miles east of Dothan, AL, and 75 miles north of Tallahassee, FL. Station West Shopping Center is situated on the growing west side of Blakely.

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10 T e n a n t P r o f i l e s Tenant Trade Name: Fred s Inc. Headquartered: Memphis, TN No. of Locations: 663+ Web Site: Description: Fred s, Inc. and its subsidiaries engage in the sale of general merchandise through its retail discout stores and pharmacies in the southeastern U.S. The company also sells general merchandise to its 24 franchisees. Its retail stores and pharmacies offer household goods, apparel and linens, food and tobacco company had 663 discount general merchandise stores primarily in the southeastern U.S., including 24 franchised Fred s stores. Fred s was founded in 1947 and is headquartered in Memphis, TN. Tenant Trade Name: Variety Wholesale Store Headquartered: Raleigh, NC No. of Locations: 550+ Web Site: None Description: Variety is not only the spice of life -- it s also a major purveyor of deeply discounted retail goods. With about 550 stores in 14 states from Louisiana to Delaware. The company, which has aggressively bought other chains while closing poorly performing stores, tends to set up shop in small towns where the retail giants fear to tread. The company s retail outlets sell beauty products, housewares, snacks, toys and more, under banners including Bargain Town, Maxway, Roses, and Super 10. Variety Wholesalers was founded in 1932 by James Pope; the Pope family, including chairman and CEO John Pope, owns and leads the company. Tenant Trade Name: Farmer s Home Furniture Headquartered: Dublin, GA No. of Locations: 150+ Web Site: Description: Founded by Sherwin Glass in 1949 as a hometown store in Soperton, Georgia, Farmers Home Furniture has since become one of the fastest growing furniture retailers, with more than 150 locations throughout the Southeast. Today, Farmers Home Furniture is one of the top 100 furniture companies in the country and one of the largest privately owned companies based in Georgia. We are committed to providing our customers with the best possible service and selection - that s why we tailor each store to it s town, matching product selection to the customers.

11 T e n a n t P r o f i l e s Station West WeShopping st Shopping Center Center Tenant Trade Name: Citi Trends Headquartered: Savannah, GA No. of Locations: 253+ Web Site: Description: Citi Trends, Inc. operates as a retailer of urban fashion apparel and accessories in the U.S. It offers various apparel, including dresses, sportswear, and plus-sized offerings for men and women; and offerings for infants, toddlers, boys, and girls. The company also offers accessories, such as intimate apparel, handbags, hats, jewelry, footwear, toys belts, and sleepwear, as well as an assortment of home decor, which includes giftware, lamps, pictures, mirrors, and figurines. As of May 18, 2006,Citi Trends operated 253 stores in urban and rural markets in 16 states. The company was founded in 1946 and is headquartered in Savannah, GA. Tenant Trade Name: Hibbett Sports Headquartered: Birmingham, AL No. of Locations: 545+ Web Site: Description: Hibbett Sporting Goods, Inc. operates sporting goods stores in small to mid-sized markets in the Sunbelt, Mid-Atlantic, and Midwest. The company s stores offer athletic equipment, footwear, and apparel. As of January 28, 2006, it operated 527 Hibbett Sports stores, as well as 18 smaller-format Sports Additions athletic shoe stores and 4 larger-format Sports & Co. superstores in 22 states. Through its subsidiary, Hibbett Team Sales, Inc., the company supplies athletic apparel, equipment, and footwear to school, athletic, and youth programs in Alabama. Hibbett Sporting was founded in 1945 under the name Dixie Supply Company. It changed its name to Hibbett Sporting Goods, Inc. in The company is headquartered in Birmingham. AL.

12 C o n f i d e n t i a l i t y A g r e e m e n t The information contained in this Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from CMM Realty, LLC (CMM) and should not be made available to any other person of entity without the written consent of CMM. This Marketing Brochure has been prepared to provide summary information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. CMM makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of the contaminating substances, PCB s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. All potential buyers must take appropriate measures to verify all of the information set forth herein. Charles Mixon, Qualifying Broker with CMM, is acting dually as Principal and Broker representing Seller. Bill Mixon is acting dually as Principal and Broker representing Seller. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT CMM Realty, LLC. FOR MORE DETAILS.