BMO Harris Bank 132 East Main Street, Hortonville, WI 54944 Offering Memorandum
CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of BMO Harris Bank located at 132 E Main St, Hortonville, WI 54944 ( Property ). It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum for the Property, you agree: 1. The Offering Memorandum and its contents are confidential; 2. You will hold it and treat it in the strictest of confidence; and 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Colliers International or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum. COLLIERS INTERNATIONAL OFFERING MEMORANDUM BMO Harris Bank
Table of Contents Pricing & Financial Analysis Investments Highlights... 2 Ideal 1031 Exchange Property... 2 Tenant Strength... 2 Executive Summary... 3 Brand Overview... 4 Property Description Tenant Overview... 6 Tenant Map... 7 Regional Map... 8 Birds Eye... 9 Demographics City Overview Hortonville, WI... 11 Demographics Report... 12 EXCLUSIVELY LISTED BY: Patrick Toomey Senior Vice President direct +1.310.321.1884 MOBILE +1.310.403.4984 email patrick.toomey@colliers.com License No. 00881133 John Erikson Associate direct +1.310.321.1866 MOBILE +1.310.545.2019 email john.erikson@colliers.com License No. 01413300 Broker of Record Name Michael D Fardy License No. 48638
Pricing & Financial Analysis
Investments Highlights Attractive 6.10% Cap Rate with 2% annual increases Two drive-thrus and parking for 20 cars Passed by approximately 14,000 cars per day $25 Million deposits as reported by FDIC 6/2014 NNN No landlord responsibilities $89,000 Average Household Income within a 5-mile radius Tenant Strength BMO rated A+ by S&P, the highest rated financial institution in North America BMO increased branch network in Wisconsin from 63 to 231 in 3 Years BMO recently achieved record revenue, record net income and record EPS BMO is one of the largest banks in the Midwest serving more than 2M customers Ideal 1031 Exchange Property Absolute NNN leased investment ideal for out-of-state investors looking for passive income P. 2 COLLIERS INTERNATIONAL OFFERING MEMORANDUM BMO Harris Bank
Executive Summary BMO Harris Bank 132 E Main St hortonville, wi 54944 List Price...$1,117,000 Gross Leasable Area... 3,408 SF Price/SF...$328 CAP Rate - Current... 6.10% Lot Size... 0.51 Acres (22,216 SF) Annualized Operating Data Monthly Rent Annual Rent Rent/SF CAP Rate Current - September 31, 2014 $5,680.00 $68,160.00 $20.00 6.10% Option 1: October 1, 2024 $6,923.91 $83,087.00 $24.37 7.43% Option 2: October 1, 2029 $7,494.66 $89,936.00 $26.38 8.05% *Six additional five year options *Termination Right: One-time right to terminate upon the first day of the 61st month of the primary lease term *2% annual increases Tenant Summary Tenant Trade Name BMO Harris Bank Type of Ownership Fee Simple Lease Guarantor Corporate Lease Type NNN Roof and Structure Tenant Responsible Original Lease Term 10 Years Lease Commencement Date 10/1/2014 Lease Expiration Date 9/31/2024 Term Remaining on Lease 9 Years Increases 2% Annually Options Eight (8) Five (5) Year Options BMO Harris Bank OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 3
Brand Overview Property Name BMO Harris Bank Gross Leasable Area 3,408 SF Property Type Financial Services Parent Company Trade Name Bank of Montreal Ownership Public Credit Rating A+ Rating Agency Standard & Poor s Revenue $16.3 Billion Net Income $4.2 Billion Stock Symbol BMO Board TSX/NYSE No. of Locations +600 No. of Employees +14,500 Headquartered Chicago, IL Web Site https://www.bmoharris.com/main/personal Year Founded 1882 Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $589 billion and more than 46,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers. We serve more than seven million customers across Canada through our Canadian retail arm, BMO Bank of Montreal. We also serve customers through our wealth management businesses: BMO Nesbitt Burns, BMO InvestorLine, BMO Private Banking, BMO Global Asset Management and BMO Insurance. BMO Capital Markets, our investment and corporate banking and trading products division, provides a full suite of financial products and services to North American and international clients. In the United States, BMO serves customers through BMO Harris Bank, based in the U.S. Midwest with more than two million retail, small business and commercial customers. BMO Financial Group conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets. Source: http://www.bmo.com/home/about/banking/investor-relations/who-we-are P. 4 COLLIERS INTERNATIONAL OFFERING MEMORANDUM BMO Harris Bank
Property Description
Tenant Overview THE OFFERING Property Name... BMO Harris Bank Property Address... 132 E Main St Hortonville, WI 54944 Assessor s Parcel Number...24-0-0024-00 SITE DESCRIPTION Number of Stories...One Gross Leasable Area (GLA)...3,408 SF Lot Size... 0.51 Acres (22,216 SF) Type of Ownership... Fee Simple Parking...20 Surface Spaces Parking Ratio...5.86 : 1,000 SF Landscaping...Professional Topography...Generally Level CONSTRUCTION Foundation...Concrete Slab Framing... Wood Exterior... Brick Parking Surface... Asphalt Roof...Flat BMO Harris Bank OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 6
Tenant Map P. 7 COLLIERS INTERNATIONAL OFFERING MEMORANDUM BMO Harris Bank
Regional Map BMO Harris Bank OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 8
Birds Eye P. 9 COLLIERS INTERNATIONAL OFFERING MEMORANDUM BMO Harris Bank
Demographics
City Overview Hortonville, WI The Village of Hortonville is a vibrant community located in southwestern Outagamie County, Wisconsin, an area known as the Fox Valley. The Village is located at the intersection of State Highway 15 and County Highway M, 10 miles northwest of the City of Appleton. Approximately 1 million people live and work within a 50 miles radius of the Village. Green Bay is 43 miles to the northeast, Oshkosh 24 miles to the south and Fond du Lac 50 miles to the southeast. The Village is the site of the only lake in the county, the 75 acre Black Otter Lake, which receives substantial recreational use, primarily by anglers, throughout the year. The Village of Hortonville is a growing place of friendly people with a strong work ethic, a place of safe neighborhoods and affordable housing, a place in close proximity to excellent learning and medical facilities, a place near bountiful shopping opportunities and unlimited recreational and sightseeing opportunities. Some highlights of the village include a small community charm, close proximity to the Fox Cities metropolitan area, an excellent public school system, low crime rate, a rapidly growing population (almost a 24% increase since 2002) and employment base, low taxes, and much more. Hortonville is a part of the Appleton-Oshkosh-Neenah CSA, a Combined Statistical Area that includes the Appleton (Calumet and Outagamie counties) and Oshkosh-Neenah (Winnebago County) metropolitan areas, which had a combined population of 358,365 at the 2000 census. WIS 15, also marked Main Street, is an east-west route connecting Hortonville with the communities of Appleton, Greenville, and New London. County M, also marked Nash Street & Olk Street, is a north-south route connecting Hortonville with State Hwy 54 to the north & State Hwy 96 at Medina to the south. P. 11 COLLIERS INTERNATIONAL OFFERING MEMORANDUM BMO Harris Bank
Demographics Report Population 1-Mile 3-Mile 5-Mile 2019 Projection 2,751 5,149 11,597 2014 Estimate 2,687 5,004 11,113 2010 Census 2,627 4,863 10,592 2000 Census 2,282 4,293 8,992 Growth 2014-2019 2.37% 2.89% 4.35% Growth 2010-2014 2.27% 2.89% 4.92% Growth 2000-2010 15.14% 13.29% 17.79% Households 2019 Projection 1,048 1,942 4,311 2014 Estimate 1,021 1,875 4,100 2010 Census 994 1,805 3,859 2000 Census 826 1,519 3,140 Growth 2014-2019 2.66% 3.54% 5.15% Growth 2010-2014 2.70% 3.91% 6.24% Growth 2000-2010 20.36% 18.80% 22.90% Income $0 - $15,000 4.90% 4.59% 4.51% $15,000 - $24,999 7.54% 6.51% 5.22% $25,000 - $34,999 9.50% 7.79% 6.63% $35,000 - $49,999 10.97% 10.77% 10.12% $50,000 - $74,999 25.95% 24.64% 23.02% $75,000 - $99,999 17.24% 17.81% 18.46% $100,000 - $124,999 14.20% 14.13% 13.73% $125,000 - $149,999 4.21% 6.13% 7.88% $150,000 - $199,999 3.23% 4.37% 5.61% $200,000 - $249,999 1.08% 1.49% 2.07% $250,000 - $499,999 0.88% 1.49% 2.20% $500,000+ 0.20% 0.32% 0.51% 2014 Est. Average Household Income $74,200 $81,272 $89,006 2014 Est. Median Household Income $66,376 $70,644 $75,671 BMO Harris Bank OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 12
BMO Harris Bank 132 E Main St Hortonville, WI 54944 OFFERING MEMORANDUM Patrick Toomey Senior Vice President direct +1.310.321.1884 MOBILE +1.310.403.4984 email patrick.toomey@colliers.com License No. 00881133 John Erikson Associate direct +1.310.321.1866 MOBILE +1.310.545.2019 email john.erikson@colliers.com License No. 01413300 Broker of Record Name Michael D Fardy License No. 48638 Colliers International 2121 Rosecrans Avenue, Suite 3301 El Segundo, CA 90245 www.colliers.com