Venture Oil & Gas Corporate Office Laurel, MS I Hattiesburg, MS PORTOFLIO SALE Venture Oil & Gas 1
Hattiesburg, Laurel, MS MS 2 Offering Memorandum
contents 04 EXECUTIVE SUMMARY 06 financial OVERVIEW 08 12 tenant overview area OVERVIEW exclusively listed by Wesley connolly, MBA Senior Associate Wesley.Connolly@matthews.com DIR (949) 432-4512 MOB (707) 477-7185 LIC # 01962332 (CA) Beau Box BROKER OF RECORD LIC # 72498 Venture Oil & Gas 3
executive summary investment highlights Absolute NNN investment offering ideal passive investment for 1031 exchanges Brand new 10 year master lease with 2, 5 year options Attractive 10% rental increases every 5 years Financially strong tenant Corporate guarantee Tenant Highlights Very experienced independent energy company with growing growth projections One of the largest oil producers in the state Property Highlights The Hattiesburg office is located in the heart of Hattiesburg MS and is in close proximity to a major retail trade area and the University of Southern Mississippi The Laurel office is located in the heart of Laurel, MS the office is in close proximity to the Sawmill Square Mall and many other national tenants Laurel, MS Hattiesburg, MS 4 Portfolio Sale
Hattiesburg, MS Venture Oil & Gas 5
Hattiesburg, MS financial overview 6 Offering Memorandum
Venture Oil & Gas Corporate Office Hattiesburg, MS 39440 Laurel, MS 39440 List Price...$2,250,000 CAP Rate - Current...8.00% Annualized Operating Data Monthly Rent Annual Rent Cap Rate Master Lease through Year 5 $15,000 $180,000 8.00% Master Lease through Year 10 $16,500 $198,000 8.80% First Option $18,150 $217,800 9.68% Second Option $19,965 $239,580 10.65% Tenant Summary Tenant Trade Name Type of Ownership Lease Guarantor Lease Type Original Lease Term Lease Commencement Date Lease Expiration Date Term Remaining on Lease Increases Options *Lease will commence at the close of escrow Venture Oil & Gas Fee Simple Corporate NNN 10 Years TBD at COE TBD at COE 10 Years 10% every 5 years Two (2), 5-Year Venture Oil & Gas 7
tenant overview 8 Offering Memorandum Laurel, MS
tenant overview Company Name Ownership Headquartered Website Venture Oil & Gas Private Laurel, MS www.ventureoilandgas.com Year Founded 1988 Venture Oil & Gas Venture Oil and Gas is an energy company dedicated to the exploration, development, production, and marketing or natural gas, natural gas liquids, and crude oil. Venture Oil and Gas is a rapidly growing company that targets onshore, North American oil and natural gas properties, with Coast States. As Venture has been growing in recent years, the company is now one of the largest oil producers in the state of Mississippi. As of last month (April 2017) Venture Oil & Gas was producing 6,000 BOPD and 8,500 MCFD. Since its beginnings in 1988, Venture has had a highly qualified staff with an average of over 25 years of experience in the oil and gas industry. Venture is able to leverage this experience to not only build, but enhance the value of their partners through control of operations, property development and reduction costs. Venture complies with all environmental, health and safety regulations to protect the environment and the health and safety of employees, contractors and local communities who may be impacted by its business activities. Venture Oil & Gas 9
THe Offerings Hattiesburg, ms Property Name Property Address Assessor s Parcel Number Venture Oil & Gas Corp Office 22 Millbranch Rd Ste 900 Hattiesburg, MS 39402 051Q-12-016.006 Site Description Number of Stories One Year Built 2014 Gross Leasable Area (GLA) ± 7,377 SF Lot Size ± 0.35 Acres (15,050 SF) Type of Ownership NNN Landscaping Professional Topography Generally Level parcel map Oceanside Blvd ± 31,792 College Blvd ± 40,116 10 Portfolio Sale
surrounding tenant map Turtle Creek Mall Venture Oil & Gas 11
Laurel, MS Property Name Property Address Assessor s Parcel Number Venture Oil & Gas Corp Office 207 S 13th Ave Laurel, MS 39440 119G-06-09-009.00 Site Description Number of Stories One Year Built 2004 Gross Leasable Area (GLA) ± 3,573 SF Lot Size ± 0.41 Acres (18,099 SF) Type of Ownership NNN Landscaping Professional Topography Generally Level parcel map S 13th Ave ± 4,000 ADT Oceanside Blvd ± 31,792 College Blvd ± 40,116 12 Portfolio Sale
surrounding tenant map Venture Oil & Gas 13
area overview Laurel, MS Laurel is strategically located about 30 miles north of Hattiesburg and almost 60 miles south of Meridian. An estimated 30,000 cars travel on Interstate 59 between Hattiesburg and Meridian each day. Laurel is a charming and gracious southern town, located in the southeast region of Mississippi known as the Pine Belt. Laurel is rich in history, but also has a bright future. There is more to Laurel than meets the eye. The area is rich in customers and folklore, creativity and physical beauty that make up South Mississippi s playground. Laurel is home to some of the most unique and influential places in the Pine Belt Region. Laurel s major employers include Howard Industries, Sanderson Farms, Masonite International, Family Health Center, Howse Implement, Thermo-Kool and South Central Regional Medical Center. Laurel is also home to the Lauren Rogers Museum of Art, Mississippi s oldest art museum. laurel demographics POPULATION 1 Mile 3 Mile 5 Mile 2022 Projection 5,231 18,787 29,428 2017 Estimate 5,315 18,950 29,496 2010 Census 5,525 19,404 29,809 2000 Census 5,699 19,348 28,936 HOUSEHOLDS 1 Mile 3 Mile 5 Mile 2022 Projection 1,884 6,682 10,829 2017 Estimate 1,919 6,759 10,882 2010 Census 2,000 6,958 11,055 INCOME 1 Mile 3 Mile 5 Mile 2017 Est. Average Household Income $47,753 $53,092 $55,823 14 Portfolio Sale
local map regional map laurel at a glimpse population: daily population: housing units: businesses: average household income: 18,500 45,000 7,7000 1,750 $50,057 Venture Oil & Gas 15
area overview Hattiesburg, MS Equidistant from Jackson, Mississippi; New Orleans, Louisiana; and Mobile, Alabama, Hattiesburg is one of Mississippi s largest and fastest-growing cities. The city s southern Mississippi location in Forrest County provides it access to 80% of the state s population. Over the last several years, Hattiesburg has been recognized nationally for its livability, especially in the health care field. With a low cost of living and low crime, the city is positioning itself as a retirement destination. Referred to as Hub City, Hattiesburg s economy consists of the forest-products industry and a variety of manufacturing activities. Several national business branches are hosted in the city, such as Kohler Engines, BAE Systems Inc., Berry Plastics, the Coca-Cola Bottling Company, Pepsi Cola Bottling and Budweiser Distribution Company. As the home of The University of Southern Mississippi and William Carey College, Hattiesburg blends a college town atmosphere with an upscale entertainment district downtown and an abundance of outdoor opportunities. The Historic Downtown District features many architectural treasures such as the Saenger Theater and the Hattiesburg Historic Train Depot, further enhancing the city s artistic and cultural flair. An abundance of unique shops, galleries and restaurants flourish in Historic Downtown showcasing Hattiesburg s Old South charm. South of the city is Camp Shelby, the largest National Guard training base east of the Mississippi River. Here, visitors can admire more than 6,000 artifacts spanning America s military history exhibited at the Armed Forces Museum. Hattiesburg demographics POPULATION 1 Mile 3 Mile 5 Mile 2022 Projection 8,504 41,581 70,512 2017 Estimate 7,946 40,439 68,862 2010 Census 6,890 38,334 65,779 Growth 2011-2017 15.32% 5.49% 4.69% HOUSEHOLDS 1 Mile 3 Mile 5 Mile 2022 Projection 3,792 17,938 28,836 2017 Estimate 3,515 17,318 27,972 Growth 2011-2017 17.34% 7.38% 6.36% INCOME 1 Mile 3 Mile 5 Mile 2017 Est. Average Household Income $55,761 $56,790 $59,553 16 Portfolio Sale
local map regional map Hattiesburg at a glimpse population: housing units: businesses: average household income: 47,016 21,400 4,800 $59,553 Venture Oil & Gas 17
CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of Venture Oil & Gas Corp Office located at 22 Millbranch Rd Ste 900, Hattiesburg, MS 39440 and 207 S 13th Ave, Laurel, MS 39440 ( Property ). It has been prepared by Matthews Real Estate Investment Services. 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 Matthews Real Estate Investment Services. 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 Matthews Real Estate Investment Services 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 Matthews Real Estate Investment Services 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
exclusively listed by Wesley connolly, MBA Senior Associate Wesley.Connolly@matthews.com DIR (949) 432-4512 MOB (707) 477-7185 LIC # 01962332 Beau Box BROKER OF RECORD LIC # 72498 Venture Oil & Gas Laurel, MS Hattiesburg, MS Venture Oil & Gas 19