TitleMax 3096 Deans Bridge Rd Augusta, GA OFFERING MEMORANDUM Representative Photo TitleMax, Augusta, GA 1
investment highlights STRONG LEASE Corporate TitleMax guaranteed lease Recently Extended Tenant just signed renewed their first five-year option period Absolute NNN Lease Zero landlord responsibilities with tenant responsible for taxes, insurance, maintenance, roof, and structure Growing Cash Flow Two percent (2%) rent increases scheduled every year Below Market Rent Tenant is only paying $59,681 currently in rent STRATEGIC LOCATION Ideal Location Signalized, hard-corner location with ideal TitleMax demographics Healthy Demographics There are over 8,000 people living in a 1-mile radius (and 56,700 in a 3-mile and 132,000 in a 5-mile) Busy Intersection Over 35,000 CPD Strong Retail Synergy Other national retail tenants include Walmart, Dollar Tree, AutoZone, Family Dollar, Krystal, O Reilly Auto Parts, Captain D s, Family Dollar, and many more. STRONG CORPORATE TENANT TitleMax, Inc. is a privately-owned title lending business with corporate headquarters in Savannah, GA with more than 1,100 stores in sixteen states. TitleMax serves individuals who generally have limited access to consumer credit from banks, thrift institutions, credit card lenders and other traditional sources of consumer credit. TitleMax offers title loan and title pawn products which allows customers to meet their liquidity needs by borrowing against the value of their vehicles while retaining use of their vehicle during the term of the loan. List Price $770,090 Cap rate 7.75% GLA ± 2,732 SF Lot Size ± 1.10 Acres Year Built/ Renovated 1970/2006 Exclusively Listed by: Bill Pedersen Senior Associate Bill.Pedersen@matthews.com DIR (949) 432-4501 MOB (831) 246-0646 LIC # 01975700 (CA) Kyle Matthews BROKER OF RECORD LIC # 67120 (GA)
Financial Overview 3096 Deans Bridge Rd Augusta, GA 30906 Annualized Operating Data Start Date End Date Annual Rent Monthly Rent Rent/SF Current 12/13/2018 $59,681.97 $4,973.50 $21.85 12/14/2018 12/13/2019 $60,875.61 $5,072.97 $22.28 12/14/2019 12/13/2020 $62,093.12 $5,174.43 $22.73 12/14/2020 12/13/2021 $63,334.98 $5,277.92 $23.18 12/14/2021 12/13/2022 $64,601.68 $5,383.47 $23.65 12/14/2022 12/13/2023 $65,893.71 $5,491.14 $24.12 12/14/2023 12/13/2024 $67,211.59 $5,600.97 $24.60 12/14/2024 12/13/2025 $68,555.82 $5,712.98 $25.09 12/14/2025 12/13/2026 $69,926.94 $5,827.24 $25.60 12/14/2026 12/13/2027 $71,325.48 $5,943.79 $26.11 12/14/2027 12/13/2028 $72,751.98 $6,062.67 $26.63 12/14/2028 12/13/2029 $74,207.02 $6,183.92 $27.16 12/14/2029 12/13/2030 $75,691.16 $6,307.60 $27.71 12/14/2030 12/13/2031 $77,204.99 $6,433.75 $28.26 12/14/2031 12/13/2032 $78,749.09 $6,562.42 $28.82 12/14/2032 12/13/2033 $80,324.07 $6,693.67 $29.40 12/14/2033 12/13/2034 $81,930.55 $6,827.55 $29.99 12/14/2034 12/13/2035 $83,569.16 $6,964.10 $30.59 12/14/2035 12/13/2036 $85,240.55 $7,103.38 $31.20 12/14/2036 12/13/2037 $86,945.36 $7,245.45 $31.82 First Option Second Option Third Option Fourth Option Tenant Summary Tenant Trade Name Type of Ownership Lease Type Roof and Structure Original Lease Term TitleMax, Inc. Fee Simple NNN Tenant Responsible 10 Years Rent Commencement Date 12/14/2007 Lease Expiration Date 12/13/2022 Term Remaining on Lease Increases Options Property Description Property Address ± 5 Years 2% Every Year Three (3) Additional Five (5) Year Options 3096 Deans Bridge Rd Augusta, GA 30906 Assessor s Parcel Number 096-2-184-00-0 Zoning Number of Stories GLA Lot Size Parking Parking Ratio Landscaping Topography B2 One ± 2,732 SF ± 1.10 Acres (47,916 SF) ± 26 Surface Spaces 9.52 : 1,000 SF Professional Generally Level TitleMax, Augusta, GA 3
Lease Abstract Tenant: Address: Date of Lease: December 14, 2007 Lease Commencement: December 14, 2007 Rent Commencement: December 14, 2007 Lease Expiration: December 13, 2022 Original Lease Term: TitleMax of Georgia, Inc., a Georgia corporation 3096 Deans Bridge Road, Augusta, Georgia Thirty (30) Years Tenant shall have the right to terminate the Lease effective on the tenth, fifteenth, twentieth or twentyfifth Termination of Lease: annual anniversary of the Rent Commencement Date. Termination shall occur by Tenant giving Landlord written notice of termination not less than ninety (90) days prior to the effective date of termination. Current Rent: $59,681.97 (as of 12/14/2017) Rent Increases: Two percent (2%) each year Maintenance and Repairs by Tenant: Tenant to maintain, at its sole cost and expense, in good condition all necessary maintenance and repairs, including any equipment (e.g., HVAC system) Real Estate Taxes: Tenant shall reimburse landlord Insurance: Landlord to carry, Tenant to reimburse Utilities: Tenant to pay directly Tenant Assignment and Subletting: Tenant may assign or sublet at any time without the Landlord s consent Right of First Refusal: Yes, Tenant has thirty (30) days to give notice of their right to purchase Estoppel: Tenant has ten (10) business days to provide estoppel 4 Offering Memorandum
Bobby Jones Expy ± 64,000 ADT Parcel Map Deans Bridge Rd ± 26,000 ADT TitleMax, Augusta, GA 5
Surrounding Tenants Glenn Hills Middle School Number One Mobile Home Park Glenn Hills High School Glenn Hills Elementary School Augusta Fire Department MetroPCS Authorized Dealer Glenwood Apartments A-Tech Self Storage 6 Offering Memorandum
TitleMax TitleMax is one of the largest title lending companies in the nation. They help thousands of individuals get title loan and title pawn products at rates they would not receive anywhere else. Their rates are competitive, and what separates them from their competitors is their high level of customer service. TitleMax understands that this could be a complex process, and make it their mission to always put the customer first. They offer car title loans, car title pawns, motorcycle title loans, and motorcycle title pawns. The TitleMax specialists make sure that each loan or pawn works in the best interest of their customer. The first store opened in 1998 in Georgia, and over the years, TitleMax has expanded to over 1,100 locations spreading across 16 states. Year Founded 1998 Ownership Private No. of Employees ± 4,000 revenue ± $2B No. of Locations ± 1,100 TitleMax, TitleMax, Augusta, Augusta, GA30906 7
area overview Area Overview Augusta is a beautiful city on the central eastern border of Georgia. It has grown into the second-largest city in the state. Nicknamed the Garden City of the South, the area is recognized for many different things including historical sites and home of the globallyrecognized Masters Tournament. When walking through the city, you see everything from high-tech areas to industrial sites. There is a volume of different attractions including sports, site seeing, and much more. 8 Offering Memorandum
Economy Augusta s economy primarily relays on the medical, biotechnology, and cyber security sectors. The city s three largest employers are Augusta University, the Savannah River Site, and the U.S. Army Cyber Center of Excellence. The population has been growing at a rapid rate and is expected to grow even more since the United States Army Cyber Command relocated to Fort Gordon. Top Employers Augusta University is the state s only public health sciences graduate university and employs over 7,000 people. Medical District of Augusta employs over 25,000 people and has brought in over 1.8 billion. Several corporations have headquarters in Augusta including CareSouth, T-Mobile, Covidien, Solo Cup Company, John Deere, and many more. demographics POPULATION 1 Mile 3 Mile 5 Mile 2022 Projection 7,592 56,218 135,982 2017 Estimate 7,663 55,694 132,719 2010 Census 8,110 56,646 131,282 HOUSEHOLDS 1 Mile 3 Mile 5 Mile 2022 Projection 2,964 22,023 53,185 2017 Estimate 2,965 21,659 51,658 2010 Census 3,075 21,659 50,488 INCOME 1 Mile 3 Mile 5 Mile 2017 Est. Average Household Income $41,732 $43,458 $51,157 TitleMax, TitleMax, Augusta, Augusta, GA30906 9
Augusta University Augusta University is one of the four public research universities in the University System of Georgia. It is the regions only public academic health center, and is comprised of nine colleges and schools. The university accepts over 9,000 students each semester that is comprised of undergraduates, postgraduates, and doctoral students. The nine different colleges and school are College of Allied Health Sciences, Pamplin college of Arts, Humanities, and Social Sciences, James M. Hull College of Business, Dental College, College of Education, College of Graduate Studies, Medical College of Georgia, College of Nursing, and College of Science and Mathematics. The main campus spreads across 200 acres that is a combination of Augusta State University and Georgia Health Sciences University s former campuses. The Augusta University Medical Center includes 478 beds, the Children s Hospital of Georgia, outpatient clinics, laboratories, and a wellness center. It is the second-largest employer in the region and bring in over $2 billion each year. 10 Offering Memorandum
THE MASTERS The Augusta National Golf Club hosts the first major golf tournament of each year called The Masters. It is one of the most prestigious tournaments in golf and is one of the four major championships. The course has been ranked as one of the best golf courses in the world. Millions come each year to play the famous course. TitleMax, Augusta, GA 11
CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of TitleMax located at 3096 Deans Bridge Rd, Augusta, GA 30906 ( 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.
TitleMax 3096 Deans Bridge Rd Augusta, GA 30906 exclusively listed by Bill Pedersen Senior Associate Bill.Pedersen@matthews.com DIR (949) 432-4501 MOB (831) 246-0646 LIC # 01975700 (CA) Kyle Matthews BROKER OF RECORD LIC # 67120 (GA) TitleMax, Augusta, GA 13