Offering Memorandum Woods End Corporate Park 25, 37 & 49 Kessel Court Madison, WI Investment Sale Three Multi-Tenant Office Buildings COMMERCIAL REAL ESTATE SERVICES WORLDWIDE
Executive Summary The Offering Property NAI MLG Commercial and, on behalf of the owner, are offering for sale the 73,137 square-foot Woods End Corporate Park, in Madison, Wisconsin. The three building business park offers a value-add investment opportunity that can boost NOI over the short-term and maximize on the strength of Madison s healthiest office submarket. Woods End Corporate Center, Madison, WI Property Size 73,137 SF (net rentable area) 3 Buildings 4.25 Acres Occupancy Current: 27% Transactions Guidelines Terms Property Highlights Office Market Highlights Economic Highlights The property is being offered on an As Is, Where Is basis and the Seller will consider offers as presented considering the following factors at their absolute discretion, including, but not limited to: Offer price and terms Purchaser s financial strength, ability to close Level of due diligence Experience and track record All Cash to Seller at Closing Prominent location with excellent visibility along Beltline Highway (80,000+ VPD) Variety of currently available suites provides efficiency in meeting market demand Situated in one of Madison s healthiest and historically strongest office submarkets (West) Madison s overall vacancy rate is 13.3% as of 2015 Q1. This compares to an overall vacancy rate of 14.3% for 2014 Q1 Located in strongest metro area in WI, with 4.3% unemployment rate and population growth outpacing the national average Year-over-year employment growth of 2.3% as of June 2015 Numerous growth drivers including the University of Wisconsin s flagship research campus and the Wisconsin State Government that will ensure long-term viability of this market The information contained herein is believed to be reliable but is not warranted and is subject to change without notice. A prospective purchaser should independently verify any and all matters believed to be material.
Investment Highlights Value-add opportunity with strong upside potential: By increasing occupancy buyers can anticipate achieving a significant unleveraged internal rate of return over a five year holding period. Available for purchase at a substantial discount to the assessed value: The property is owned free and clear. The assessed value is $3,399,000 or $46.47 per square foot Solid rent roll: The majority of the leases allow for annual increases. Lease maturities are evenly spread out from 2015 to 2018. Diverse office tenant mix: National credit and strong local companies. Office tenants are professional service firms. Signage opportunities: In addition to new directory signage, Woods End Corporate Park can accommodate both building and monument signage along the heavily traveled Beltline Highway with a traffic count of over 80,000 vehicles per day. Strategic location: Located along the Madison Beltline, a main thoroughfare that connects to the Wisconsin Interstate System. Amenities: Amenities consist of shopping, banking, restaurants, medical, and professional offices. The West Towne Regional Mall is Madison s largest shopping center and is located just west of Woods End Corporate Park. The University of Wisconsin Research Park is located on Whitney Way and Mineral Point Road, less than a 5 minute drive to the north.
Transaction Guidelines Following the distribution of materials, NAI MLG and will be available to assist prospective investors with on-site inspections of the property and in the review of the information contained in the Offering Memorandum. As-Is Sale The property is being sold on an As-Is, Where-Is basis and the owner will make no representations or warranties as to the condition of the property, the property s systems, the serviceability or fitness for a particular use or any component of the property, or the accuracy of the offering information provided. All offers should include the following: The offer price A description of the investor and its source of capital for the acquisition The amount of earnest money deposit An outline of the proposed schedule for due diligence and closing Description of any contingencies or due diligence requirements Description of any physical or environmental assumptions affecting the price being offered Contacts All inquiries related to this Solicitation and Offers should be made directly to the following: Jack Jacobson NAI MLG Commercial Principal 414 908 9151 jjacobson@mlgcommercial.com Chuck Redjinski NAI MLG Commercial Senior Vice President 608 663 6006 credjinski@mlgcommercial.com Jordan Summerville Associate 972 868 5297 jsummerville@c3cp.com
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NAI MLG Commercial 757 N Broadway Street, Suite 700 Milwaukee, WI 53202 414 347 9400 mlgcommercial.com