WALMART / SAM S CLUB SHADOW ANCHORED CENTER CLARKSVILLE SHOPS LOUISVILLE, KY MSA
EXECUTIVE SUMMARY The Offering Qualified investors are extended the opportunity to acquire a 100% fee simple interest in Clarksville Shops, a 20,000 square foot service retail center located in the heart of southern Indiana s dominant regional trade area in Clarksville, Indiana (Louisville, Kentucky MSA). Experiencing sustained growth since the early 2000 s, Veterans Parkway is a four lane, east-west thoroughfare that intersects I-65 at a full exchange just 4 miles north of downtown Louisville. Major trade area retailers that surround Clarksville Shops include Walmart Supercenter, Sam s Club, Lowe s, Target, Best Buy, Bass Pro Shops, Bed Bath and Beyond, Ross Dress for Less, and PetSmart, among others. Restaurants include Cheddar s Scratch Kitchen, Chuy s Tex-Mex, Chic-Fil-A, Olive Garden, IHOP, Longhorn Steakhouse, and Panera Bread. Clarksville Shops was recently constructed by a local developer in 2010. Sharing immediate access with Walmart Supercenter and Sam s Club and situated adjacent to favored Cheddar s Scratch Kitchen and Chuy s Tex-Mex, Clarksville Shops offers Class A shop space at a prominent location. The strategic site offers convenient access and excellent visibility from the Interstate 65 exchange. The center is 100% occupied with 12 tenants providing investors with both diversified rollover risk and attractive credit. Most appealing, 77% of the rent roll is comprised of professional services including medical (Family Allergy & Asthma), financial (Edward Jones), and government (Indiana National Guard). Investment Highlights Excellent Investment Asset 100% occupied, professional service-based retail center that was recently constructed in 2010 Strong Credit The rent roll is comprised of tenants with excellent credit, including Edward Jones and Co., Weight Watchers, America s Best Eyeglasses, and the state of Indiana (Indiana National Guard). Family Allergy & Asthma is locally based with over 26 locations throughout Kentucky and Indiana 5
EXECUTIVE SUMMARY Investment Highlights Cont. Dominant Retail Trade Area A unique opportunity to acquire a multi-tenant asset located in the core of a well-established, regional trade area that includes Walmart Supercenter, Sam s Club, Lowe s, Target, Cheddar s Scratch Kitchen Chuy s Tex-Mex, and Chic-Fil-A, and Best Buy, Bed Bath & Beyond, PetSmart, Ross Dress for Less, Bass Pro Shops, among others Excellent Operating History Locally developed, owned, and managed by one owner, the center has enjoyed a successful operating history and received diligent maintenance Ideal 1031 or Private Equity Play Limited landlord responsibilities, diversified cash-flow, and sound real estate fundamentals make this an ideal 1031 replacement property or private equity investment Staggered Lease Terms and Rent Growth Potential Lease rollover risk is evenly dispersed with rental rate escalation both in lease terms and renewal options Retail Connectivity The center provides customers and tenants a prominent location offering great accessibility and synergy with major traffic-generating retailers Free and Clear Offering The center is not encumbered with existing debt. Investors are able to structure the acquisition most conducive to their debt and equity sources Sales Terms Clarksville Shops is being offered on an as-is basis with ownership making no representations or warranties with respect to the accuracy or completeness of the offering memorandum or any and all documents delivered to any acquisition prospect for the purpose of due diligence. 6
PROPERTY DESCRIPTION Property Overview Clarksville Shops was recently constructed by a local developer in 2010. Sharing immediate access with Walmart Supercenter and Sam s Club and situated adjacent to favored Cheddar s Scratch Kitchen and Chuy s Tex-Mex, Clarksville Shops offers Class A shop space at a prominent location. The strategic site offers convenient access and excellent visibility from the Interstate 65 exchange. The center is 100% occupied with 12 tenants providing investors with both diversified rollover risk and attractive credit. Most appealing, 77% of the rent roll is comprised of professional services including medical (Family Allergy & Asthma), financial (Edward Jones), and government (Indiana National Guard). Features Address Total Offered GLA Year Built 2010 No. of Inline Suites 12 Inline Retail Shop Sizes Number of Buildings 1 1401 Veterans Parkway Clarksville, Indiana ±20,000 SF Occupancy 100% 900-3,360 SF Lot Size 1.88 acres Zoning UPCZ Parking Spaces 93 Parking Ratio 4.65 / 1,000 SF 7
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