MATTRESS FIRM SUPER CENTER - PDF Free Download

MATTRESS FIRM SUPER CENTER RARE ABSOLUTE NNN CORPORATE LEASE HOLLAND, OH

63,860 VPD SUBJECT PROPERTY IS STRATEGICALLY LOCATED IN THE HEART OF HOLLAND S BIG-BOX RETAIL CORE. SURROUNDING RETAILERS INCLUDE WALMART SUPERCENTER, BEST BUY, TARGET, DICK S, T.J. MAXX, PETSMART, ASHLEY HOMESTORE, PIER 1 IMPORTS, KOHL S, BED BATH & BEYOND AND MORE. 2

Overview MATTRESS FIRM SUPER CENTER 1255 E MALL DRIVE, HOLLAND, OH 43528 $3,715,733 PRICE 9.00% CAP LEASABLE SF 19,230 SF LAND AREA 2.83 Acres LEASE TYPE ABSOLUTE NNN LEASE EXPIRATION 06/30/2024 YEAR BUILT 2014 PARKING 61 SPACES 6 years remaining on 10-year lease Rare absolute NNN corporate lease Two 5-year renewal options Top performing location within strong retail corridor This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 3

Investment Highlights RETAIL MARKET - The subject property is strategically positioned within the epicenter of the primary retail corridor in Holland, along Mall Road. The asset is surrounded by a dense mix of nationally recognized retailers, including Sam s Club, Walmart Supercenter, Target, Best Buy, Guitar Center, TJ Maxx, Kroger and many more. Additionally, the location boasts combined traffic counts in excess of 112,000 VPD. EXCEPTIONALLY WELL PERFORMING STORE - Prior to construction, the tenant elected to increase the size from 12,000 SF to 19,230 SF due to anticipated market demand, which has proven to be true. This is one of the top performing Mattress Firms in the region and serves as a distribution hub for the tenant. This is a key location for the tenant because the distribution center services five other stores, which increases the likelihood that the tenant will exercise their options. Contact the team RICK SANNER rsanner@capitalpacific.com PH: 415.274.2709 CA BRE# 01792433 LEASE HIGHLIGHTS - This build-to-suit location opened in June of 2014 and features a 10-year absolute NNN corporate lease, leaving nearly 6 years of term remaining. There are increases in the two 5-year renewal options. IN CONJUNCTION WITH OH LICENSED BROKER: TIM ALBRO Crest Commercial Realty PH: 937.222.1600 Ext. 104 tim.albro@crestrealtyohio.com 139,000+ RESIDENTS WITH AVERAGE HOUSEHOLD INCOMES OF OVER $71K WITHIN A 5-MILE RADIUS This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 4

Aerial GOLF COURSE 20 TOLEDO HIGH 11 MILES ELEMENTARY HILL AVENUE 86,850 VPD S BYRNE ROAD ELEMENTARY ELEMENTARY MIDDLE AND HIGH S UNIVERSITY OF TOLEDO HEALTH SCIENCES 48,600 VPD 2 L E MAVLE DRI S MCCORD ROAD IVE N MALL DR HILL AVENUE ACADEMY S REYNOLDS ROAD 475 Y HWA G T HI POR AIR ACADEMY ELEMENTARY 2 ACADEMY HIGH ELEMENTARY DAY AV EN ELEMENTARY 63,860 VPD GOLF COURSE ELEMENTARY OIT 475 UE ACADEMY SD ETR GOLF COURSE 90 50,650 VPD RGAD BURO YS D RR AN PEOLL H 80 20 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 80 LUCAS COUNTY 90 24 5

Submarket Overview RETAILERS IN CLOSE PROXIMITY INCLUDE: Sam s Club Best Buy Target Dick s Sporting Goods Quality Inn Walmart Supercenter Little Ceasar s Pizza Dollar Tree TJ. Maxx PetSmart Ashley HomeStore Chili s Panera Bread Chick-Fil-A Starbucks Panda Express IHOP Boston Market Babies R Us Kohl s Kroger This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. BUSINESS SUMMARY Businesses 482 2,451 5,456 Employees 8,601 37,572 82,493 Residential Population 5,547 58,229 140,253 KEY 1-MILE 3-MILES 5-MILES

Subject Property 7

Income & Expense PRICE $3,715,733 Price Per Square Foot: $193.23 Capitalization Rate: 9.00% Total Rentable Area (SF): 19,230 Lot Size (AC): 2.83 STABILIZED INCOME PER SQUARE FOOT Scheduled Rent $17.39 $334,416 Effective Gross Income $17.39 $334,416 LESS PER SQUARE FOOT Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses NNN $0.00 EQUALS NET OPERATING INCOME $334,416 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 8

Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY TENANT NAME SQ. FT. CURRENT RENT MONTHLY RENT YEARLY RENT MONTHLY RENT/FT YEARLY RENT/FT Mattress Firm 19,230 07/01/14 06/30/19 $334,416 $27,868 $334,416 $1.45 $17.39 07/01/19 06/30/24 $27,868 $334,416 $1.45 $17.39 Option 1 07/01/24 06/30/29 $30,655 $367,860 $1.59 $19.13 Option 2 07/01/29 08/31/34 $33,721 $404,646 $1.75 $21.04 TOTALS: 19,230 $334,416 $27,868 $334,416 $1.45 $17.39 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 9

Site Plan 19,230 RENTABLE SF 2.83 ACRES 61 SPACES E Mall Drive 475 63,860 VPD N Mall Drive This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 10

Tenant Overview ABOUT MATTRESS FIRM Mattress Firm is the nation s largest multi-brand mattress retailer, and is the first chain to have store locations from border-to-border, coast-to-coast. Currently operating over 3,500 stores across 49 states, Mattress Firm offers a broad selection of mattresses and bedding accessories, including leading manufacturers and brand names. NATION S LARGEST MATTRESS RETAILER #1 3,500 MATTRESS FIRM LOCATIONS In September 2016, Mattress Firm was acquired for $3.8 billion by Steinhoff International, a German international retail holding company, and now operates as a subsidiary of Steinhoff. With operations in 30 countries, Steinhoff International Holdings is the world s largest multi-brand/multi-national mattress retail distribution network, and deals primarily with furniture and household goods. STEINHOFF MARKET CAP $2.9 Billion This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 11

Demographics DETROIT (84 MILES) POPULATION 1-MILE 3-MILES 5-MILES 2010 5,610 58,651 141,262 2016 5,547 58,229 140,253 2021 5,510 57,827 139,362 2017 HH INCOME 1-MILE 3-MILES 5-MILES Average $62,318 $68,501 $79,880 HOLLAND TOLEDO (11 MILES) TOP EMPLOYERS OF TOLEDO EMPLOYER # OF EMPLOYEES ProMedica Health Care 10,174 Mercy Health Partners 6,185 Bowling Green State University 5,957 University of Toledo 4,691 UT Health Science Campus 3,750 THE AVERAGE HOUSEHOLD INCOME WITHIN A 5-MILE RADIUS IS OVER $79K This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 12

Location Overview HOLLAND, OHIO TOLEDO, OH HOLLAND, OHIO, is located 11 miles from the Toledo city center and is within the Toledo MSA of 605,000+ residents. The city is also in close proximity to other major metro areas in the Midwest including Detroit, which is just one hour north. Holland is a quiet residential area offering a small-town atmosphere with many shopping centers, local restaurants, golf courses, and a short commute to downtown Toledo. EMPLOYMENT GROWTH EMPLOYMENT IN TOLEDO has grown in the medical device and instrument and technology industries. Although Toledo is known as the Glass City due its long history of innovation in the glass industry; metals, steel, and plastics are also important and growing industries within the Toledo MSA. Nearby University of Toledo boasts approximately 23,000 students and nearly 2,300 academic staff. The university also operates a 450-acre Health Science campus, known as the University of Toledo Medical Center, 5 miles from the subject property. 605,956 TOLEDO MSA POPULATION (ESTIMATED) This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 13

We d love to hear from you. RICK SANNER rsanner@capitalpacific.com PH: 415.274.2709 CA BRE# 01792433 IN CONJUNCTION WITH IL LICENSED BROKER: TIM ALBRO Crest Commercial Realty PH: 937.222.1600 Ext. 104 tim.albro@crestrealtyohio.com CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM: ZEB RIPPLE JOHN ANDREINI ZANDY SMITH CHRIS KOSTANECKI JOE CACCAMO RICK SANNER CHRIS PETERS DAVE LUCAS JACK NAVARRA This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.