OMMONS RENO, NEVADA Jules Sherwood, a licensed real estate broker in the state of Nevada, along with Holliday Fenoglio Fowler, L.P. (collectively HFF ). 2017 Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, HFF ), HFF Securities L.P. and HFF Securities Limited (collectively, HFFS ) are owned by HFF, Inc. (NYSE: HF)
THE OPPORTUNITY HFF has been exclusively retained by Ownership to offer the opportunity to acquire The Commons (the Property ), a 152,000 square-foot market-leading retail center located in Reno, NV. Anchored by Total Wine & More, DSW, Guitar Center, and PetSmart, The Commons features a synergistic mix of national retailers and daily needs cotenants. The Property is strategically located in the heart of the submarket s primary retail corridor and benefits from excellent freeway access and visibility on the US 580 (88,000 VPD) with an adjacent on/off ramp. As evidenced by an exceptional sales performance, Total Wine & More is the daily needs anchor for The Commons and has established comparable traffic patterns to a traditional grocery anchor. PROPERTY SUMMARY PRICE: Best Offer ADDRESS: 6625-6675, 6795 South Virginia St Reno, Nevada 89511 SQUARE FEET: 151,877 SF OCCUPANCY: 91.0% YEAR BUILT: 2005 / 2006 SITE SIZE: PARKING: 12.36 Acres 621 Spaces / 4.09 per 1,000 SF 2
The extremely high sales volume and consistent traffic generated by Total Wine & More provides comparable investment security and tenant demand to a grocery anchor. 3
INVESTMENT HIGHLIGHTS HIGH-PROFILE FREEWAY LOCATION IN KEY RETAIL CORRIDOR Exceptional freeway visibility from the US 580 (88,000 VPD) in a dense retail corridor that features Whole Foods, Home Depot, Target, and an 890,000 SF super regional mall owned by Simon. LOYAL TENANT ROSTER Over 20 tenants (totaling 67% of the leased GLA) have been in occupancy at The Commons for 10 years or longer, demonstrating the business success and long-term commitment of the tenant base. INCOME SECURITY 76% of the leased GLA at the Property is leased to credit or nationally recognized tenants, many of which have recently renewed or extended their leases. DEMOGRAPHICS 1-MILE 3-MILE 5-MILE 2017 Population 5,689 66,646 143,298 2000-2017 Pop. Growth 6.8% 17.6% 23.6% 2017 Households 2,424 27,763 62,207 Average Household Income $64,156 $66,037 $73,565 4
INVESTMENT HIGHLIGHTS DENSE TRADE AREA WITH EXCEPTIONAL POPULATION GROWTH 143,000 people live within a 5-mile radius of the Property, representing a 24% population increase since 2000. STRONG TENANT SALES PERFORMANCE Total Wine & More boasts market-leading tenant sales that continue to grow, resulting in an extremely low occupancy cost ratio. SYNERGISTIC CO-TENANTS A wide variety of daily needs co-tenants drive consistent traffic to the center while also limiting exposure to internet/e-commerce trends. ADJACENT TO KEY TRAFFIC DRIVERS Located four blocks from Rancharrah, a 700+ unit master-planned community development that has had tremendous success selling Phase 1 and is expanding to other phases now. 5
DEMAND DRIVERS MEADOW WOOD APARTMENTS (0.5 MILES) - 498 units. OFFICE COMPLEXES (1-MILE RADIUS) 320,00 SF of combined space that is 95% occupied and serves as a built in daily demand for retail. RANCHARRAH (1.3 MILES) 141 acre master planned community with 700+ new residences. The famous former ranch of the Harrah family, which just opened the first phase in June 2017. RENO-SPARKS CONVENTION CENTER (1.4 MILES) Over 500,000 SF of meeting space. RENO-TAHOE INTERNATIONAL AIRPORT (3.7 MILES) 3.6 million passengers per year. APPLE (22 MILES) Investing an additional $1 billion in data center facilities, bringing total Reno investment to $2 billion. TAHOE RENO INDUSTRIAL CENTER (24 MILES) 107,000 acres Tesla Gigafactory - $5 billion project that will employ 6,500. Switch - Investing $1 billion to build the world s largest data center. GOOGLE (27 MILES) Acquired 1,210 acres for future development. LAKE TAHOE/INCLINE VILLAGE Additional customer base due to its close proximity to the luxury residential areas and ski resorts that need services here. 6
SITE PLAN S VIRGINIA ST 2 3 4 5 23-24 21-22 20 19 18 17 16 15 14 13 12 11 10 F 1 INVESTMENT SALES ADVISORS LEGEND Leased Available 109 Rooms (NAP) BRYAN LEY Managing Director 310.407.2120 bley@hfflp.com NV License CoOp #0000229 A B C D E JULES SHERWOOD Managing Director 720.744.2701 jsherwood@hfflp.com NV License #1000908 OFF RAMP 580 (88,000 VPD) HFF NEVADA OFFICE 8704 West Charleston Blvd Suite 105 Las Vegas, NV 89117 Jules Sherwood, a licensed real estate broker in the state of Nevada, along with Holliday Fenoglio Fowler, L.P. (collectively HFF ). 2017 Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, HFF ), HFF Securities L.P. and HFF Securities Limited (collectively, HFFS ) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF. hfflp.com HFF has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses, and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.