OFFERING MEMORANDUM Firestone Long Island New York 10 Terryville Road Port Jefferson Station, NY Actual Photo
TABLE OF CONTENTS 2 The Offering Transaction Summary Tenant Summary Aerial Overview Market Overview
DISCLAIMER 3 This Offering Memorandum ( Memorandum ) is intended solely for the use of prospective investors in determining whether or not to pursue the possible acquisition of the Retail Property ( the Property ) at 10 Terryville Road, Port Jefferson Station, NY. This Memorandum is of a proprietary and confidential nature. Prospective investors and/or their advisors are expressly forbidden from sharing this information with any individuals or organizations that are not directly connected with the analysis of this investment opportunity. STREAM Capital Partners, LLC ( SCP ) has been retained as the exclusive advisor for this investment opportunity. Any and all inquiries are to be directed to SCP. By accepting this Memorandum, the recipient agrees that it will cause its directors, officers, employees and representatives to use the Memorandum and all of the information contained therein only to evaluate this specific investment opportunity and for no other purpose and shall return this Memorandum together with any copies to SCP upon request. This Memorandum contains confidential material which is non-public information. Receipt of this Memorandum constitutes your acknowledgment that you will maintain the information contained herein in strict confidence. All information contained herein has been provided by the Organization, its affiliates or other sources that SCP deems reliable; however, SCP has not independently verified any of the information, including the financial estimates and projections and selected real estate information, contained herein. This Memorandum includes information about the Organization, including selected financial information, estimates and projections that reflect various assumptions concerning anticipated results, which may or may not prove to be correct and selected real estate information which may or may not prove to be correct. Such projections and estimates may or may not be indicative of future performance, which may be significantly more or less favorable than that as reflected herein. In furnishing this Memorandum, none of the Organization, its affiliates or SCP undertakes any obligation to provide additional information or to correct or update any of the information set forth in the Memorandum. None of the Organization, its affiliates or SCP makes any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained herein in this Memorandum, or made available in connection with any further investigation of the Organization, and nothing contained herein is, or shall be relied upon as, a promise or representation, whether as to the past or the future. The recipient should rely solely on the representations and warranties made to it by the Organization or its affiliates in any executed definitive agreement. Under no circumstances should the Organization, its affiliates or any of their management, directors, shareholders, employees, customers or vendors be contacted directly.
TRANSACTION SUMMARY 4 Cap Rate: 6.75% Purchase Price: $2,826,667 Annual Rent: $190,800 Property Summary Strong Long Island Real Estate Excellent Operating History 10% Increases Every Five Years Dense Market with Excellent HH Incomes ($139,399-3 mi) Property Summary Address: 10 Terryville Road, Port Jefferson Station, NY Building Size: 6,800 SF Land Size: 0.90 Acres Year Built: 1989 Lease Summary Tenant: Firestone Tire & Rubber Co. - Bridgestone/Firestone, Inc.. Lease Type NN Roof and Structure Lease Commencement: 9/20/1989 Lease Expiration: 10/10/2022 Remaining Term: 5 Years Renewal Option: Two, 5-Year Rent Increases: 10% Increases Every 5 Years Tenant Summary Harvey S. Firestone founded the Firestone Tire & Rubber Co. in 1900 in Akron, Ohio, the home of the U.S. rubber industry. In 1905, Mr. Firestone convinced Henry Ford to put Firestone tires on the $500 Ford automobiles that would soon be coming off his assembly line. It was the first step for a small tire company that became a global giant in the industry. Bridgestone/Firestone Inc. sells tires for passenger, light truck, bus, construction, mining, agricultural, motorcycle, and kart applications. The Company s network of independent dealers, discount stores, warehouse clubs, and Company-owned stores offer its products throughout the Americas.
AERIAL VIEW 5 28,600 cars/day
MARKET OVERVIEW Long Island, New York 6 Port Jefferson Station is a hamlet and census-designated place (CDP) in the Town of Brookhaven in Suffolk County, NY. As part of the densely populated area of Long Island, Port Jefferson is located just 50 miles east of Manhattan. Long Island New York is the largest island adjoining the contiguous United States, extending approximately 118 miles east-northeast from the mouth of the Hudson River. Totaling 1,377 square miles of land area, Long Island New York is divided into four counties: Kings (Brooklyn), Queens, Nassau, and Suffolk. Suffolk is the easternmost and by far the largest of the four, covering an expanse of 911 square miles. The economy of Long Island has long benefitted from its proximity to New York City. From 1950-1980, Long Island was considered one of the aviation centers of the United States with companies such as Grumman making its headquarters in the area. In recent decades companies such as Computer Associates, with its headquarters in Islandia, have made Long Island a center for the computer industry. Nevertheless, the eastern end of the island is still partly agricultural, now including many vineyards as well as traditional truck farming. Fishing also continues to be an industry, at Northport and Montauk. Manhattan 50 mi. Demographics 1 mile 3 mile 5 mile 2017 Est. Population 8,154 71,064 174,468 2017 Est. Avg. HH. Income $112,205 139,499 $137,850
EXCLUSIVE REPRESENTATION Phil DiGennaro Managing Director 203.610.1541 phil@stream-cp.com Lic: RES0804114 Jordan A. Shtulman Managing Principal 847.226.4133 jordan@stream-cp.com Lic: 475.152062 Jonathan M. Wolfe Managing Principal 312.310.2798 jonathan@stream-cp.com Lic: 475.017525 Broker of Record Mike Antonoplos NY-34AN1074933 STREAM CAPITAL PARTNERS, LLC 4201 W. Irving Park Suite 200 Chicago, Illinois www.stream-cp.com