OFFERING MEMORANDUM FleetPride 1600 2nd Street NW Albuquerque, NM FleetPride, Albuquerque, NM 1
exclusively listed by Kyler Bean Johnny Dunn National Industrial Specialist National Industrial Specialist Chad Kurz SVP & National Director STNL Kyler.Bean@matthews.com DIR (214) 692-2192 MOB (325) 227-0893 LIC # 646910 (TX) Johnny.Dunn@matthews.com DIR (214) 692-2114 MOB (214) 692-2978 LIC # 677506 (TX) Chad.Kurz@matthews.com DIR (214) 692-2927 MOB (562) 480-2937 LIC # 01911198 (CA) Kyle Matthews Broker of Record Lic # 19601 (NM) 2 Offering Memorandum
Investment Highlights THE PROPERTY Newly Improved Site FleetPride improved the site in 2015 with numerous capital improvements including 2 Four Ton Combo Units, Plumbing, Bathroom, Roofing, Electrical, Dry Wall, Lighting for approximately $120,000.00. Strong Commitment to Site FleetPride recently extended their lease 10 years and has 8.1 years remaining with two (2), five (5) year options. Strategic Location FleetPride is located just a few blocks from Interstate 40 and minutes to Interstate 25 making this location strategic for distribution and transportation throughout Albuquerque. Industrial and Trucking Synergy FleetPride is located in a Heavy Industrial area with numerous Auto Parts, Machine, and Trucking Facilities which compliment their business model. Minimal Landlord Responsibilities Landlord is only responsible for Roof and Structure. Tenant handles all other responsibilities. ±16,000 SF Total on 1.07 Acres FLEETPRIDE Corporate Lease FleetPride, Inc was founded in 1999, annual revenue across their locations is over $1.2 Billion. Strong Business Model FleetPride is the largest independent distributor of heavy-duty truck and trailer parts in the United States, operating in ± 260 locations in 45 states. FleetPride, Albuquerque, NM 3
Financial Overview 4 Offering Memorandum
Address 1600 2nd St NW Albuquerque, NM List Price $1,086,857 Annualized Operating Data Monthly Rent Annual Rent Cap Rate 2/1/2016-1/31/2026 $6,340 $76,080 7.00% CAp Rate 7.00% Tenant Summary Tenant Trade Name FleetPride Type of Ownership Fee Simple Lease Guarantor Corporate Lease Type NN+ Roof and Structure Landlord Responsible Original Lease Term 10 Years Rent Commencement Date 2/1/2016 Lease Expiration Date 1/31/2026 Term Remaining on Lease ± 8 Years Increases 10% Increases in Options Options Two, 5-Year Options GLA ± 16,000 SF Lot Size ± 1.07 AC Year Built/Renovated 1947/2015
Tenant Overview 6 Offering Memorandum
Parent Corporation TPG Headquarters Irving, TX No. of Locations ± 262 Year Founded 1992 The Heavy Duty Experts Formed in 1999, FleetPride is the largest distributor of truck and trailer parts in the independent heavy-duty aftermarket channel. FleetPride operates over 262 locations in 45 states and carries over 400 nationally-recognized brands. In addition, FleetPride offers inhouse remanufactured products such as brake shoes and driveline components. Truck and trailer repair services are also offered at a number of locations under the FleetCare brand. National Footprint. Local Expertise. Operating through five regional distribution centers, FleetPride serves a diverse customer base across multiple industries, including freight and shipping, leasing services, agriculture, food and beverage, construction and waste management. Our supply chain expertise ensures that customers get what they need, when and where they need it. Our local knowledge allows us to tailor products and services for area customers, while our national footprint allows for consistent, reliable service at every branch location. TPG Corporate Backing TPG is a leading global private investment firm founded in 1992 with $51.5 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Beijing, Chongqing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, Sao Paulo, Shanghai, Singapore and Tokyo. TPG has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, growth investments, joint ventures, and restructurings. The firm has a strong presence in the industrial, manufacturing and retail sectors. Significant investments have included American Tire Distributors, Armstrong World Industries, Burger King, China Grand Auto, Ducati, Graphic Packaging, Grohe, J. Crew, Lenta, Neiman Marcus, Nexeo Solutions, Petco, and Savers. For more information visit www.tpg.com. FleetPride, Albuquerque, NM 7
The Offering APN 426079 GLA ± 16,000 SF Lot Size ± 1.07 AC (46,749 SF) Year Built/Renovated 1947/2015 8 Offering Memorandum
Creamland Dairies, Inc. Magic Mobile Home Supply Lewis Brake & Clutch Interstate Battery System Zero Point Parkour Thermo King West Cummings Sales Performance Connections Interstate 4- ± 144,000 ADT Automotive Machine Services Metal Center Anderson Automotive Right Way Roofing Inc. Sheflones Auto Builders Materials Gertrude Jewlery Manufacturing Subject Property Edwards Engines Construction Reporter FleetPride, Albuquerque, NM 9
Kiva Auditorium Downtown Albuquerque Bernalillo Metro Court Subject Property 10 Offering Memorandum 2nd St NW ± 12,000 ADT Anderson Automotive Sheflones Auto
Area Overview Albuquerque, NM Albuquerque is the most populated city in the state of New Mexico. The high-altitude city serves as the county seat of Bernalillo County, and it is situated in the central part of the state, straddling the Rio Grande. Albuquerque is rich in culture and heritage. There is plenty to do in Albuquerque from shopping for authentic Native American jewelry, hot air ballooning, exploring history museums and enjoying the local events and festivals. demographics POPULATION 1 Mile 3 Mile 5 Mile 2022 Projection 9,505 93,316 251,086 2017 Estimate 9,442 93,777 250,520 2010 Census 9,375 94,891 250,300 HOUSEHOLDS 1 Mile 3 Mile 5 Mile 2022 Projection 4,599 41,755 108,938 2017 Estimate 4,504 41,463 107,914 2010 Census 4,343 40,889 106,104 INCOME 1 Mile 3 Mile 5 Mile 2017 Est. Average Household Income $54,300 $61,686 $60,157 FleetPride, Albuquerque, NM 11
Economy Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions along the Rio Grande. Larger institutions whose employees contribute to the population are numerous and include Sandia National Laboratories, Kirtland Air Force Base, and the attendant contracting companies which bring highly educated workers to a somewhat isolated region. Intel operates a large semiconductor factory or fab in suburban Rio Rancho, in neighboring Sandoval County, with its attendant large capital investment. Northrop Grumman is located along I-25 in northeast Albuquerque, and Tempur-Pedic is located on the West Mesa next to I-40. Top employers # Employer 1 Kirtland Air Force Base 2 University of New Mexico 3 Sandia National Laboratories 4 Albuquerque Public Schools 5 Presbyterian Health Services 6 City of Albuquerque (Government) 7 Lovelace Sandia Health System 8 Intel Corporation 9 State of New Mexico (Government) 10 Wal-Mart Stores, Inc. 12 Offering Memorandum
International Balloon Fiesta Albuquerque is also home of the International Balloon Fiesta, the world s largest such gathering of balloons from around the world. The event takes place during the first week of October. The Balloon Fiesta is a nine-day event and has over 500 balloons each year. The convention has also become a major showcase of New Mexican culture and history and features numerous cultural exhibitions. The fiesta is one of Albuquerque s largest tourist attractions and constitutes a major source of income for the city and local businesses. Typically, tourists and fiesta visitors take thousands of pictures of the balloons, so it is no surprise that for several years the fiesta was sponsored by Kodak and was given the title, the Kodak Albuquerque International Balloon Fiesta, though that title was usually only used in print ads and on official memorabilia. FleetPride, Albuquerque, NM 13
CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of FleetPride located at 1600 2nd Street NW, Albuquerque, NM 87102 ( 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 change in the state of affairs of the Property since the date this Offering Memorandum.
exclusively listed by Kyler Bean National Industrial Specialist Kyler.Bean@matthews.com DIR (214) 692-2192 MOB (325) 227-0893 LIC # 646910 (TX) Johnny Dunn National Industrial Specialist Johnny.Dunn@matthews.com DIR (214) 692-2114 MOB (214) 692-2978 LIC # 677506 (TX) Chad Kurz SVP & National Director STNL Chad.Kurz@matthews.com DIR (214) 692-2927 MOB (562) 480-2937 LIC # 01911198 (CA) Kyle Matthews Broker of Record Lic # 19601 (NM) FleetPride 1600 2nd Street NW Albuquerque, NM FleetPride, Albuquerque, NM 15