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Mattress Firm 200 E Central Texas Expy, Harker Heights, Tx 76548

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Mattress Firm 200 E Central Texas Expy, Harker Heights, Tx 76548 OFFERING MEMORANDUM MATTRESS FIRM ™ 200 E CENTRAL TEXAS EXPY, HARKER HEIGHTS, TX 76548 1 Content 4 Investment Highlights 6 Financial Overview 8 Tenant OVERVIEW 13 Area OVERVIEW EXCLUSIVE LISTING AGENT: Clay Smith Associate [email protected] DIR (214) 692-2216 MOB (404) 316-3197 LIC # 693140 (TX) chad kurz SVP & National Director [email protected] DIR (214) 692-2927 MOB (562) 480-2937 LIC # 01911198 (CA) Kyle Matthews Broker of Record Lic # 9005919 (TX) 2 ™ 3 INVESTMENT4 HIGHLIGHTS 4 Investment Highlights Investment Details • Newly Constructed: Property built in 2014 • Almost 10 years remaining on the lease with Mattress Firm • Income tax free state • 10% increase in year 5 • Landlord is only responsible for roof & structure Location Highlights • Great Visibility: Located right off of Highway 190 with 75,000 VPD • Fort Hood: Located 10 minute drive from Fort Hood the most populous military installment in the world with over 53,000 active duty members • Population Growth: 6.6% growth in a 5 mile radius • Large Population: Over 113,000 people in a 5 mile radius Tenant Highlights • Mattress Firm is the largest and most successful bedding company in the United States, with over 3,600 locations in 49 states • In 2015, Mattress Firm had over $3.5 billion in pro forma revenue which represented over 25% of the market share 5 FINANCIAL6 OVERVIEW 6 Address Annualized Operating Data 200 E Central Texas Expy Monthly Rent Annual Rent Rent/SF Cap Rate Harker Heights, TX 76548 11/6/2015-11/6/2020 $31,685.00 $380,220.00 $38.56 6.23% List Price 11/6/2020-11/6/2027 $34,853.00 $418,242.00 $42.42 6.86% $6,100,000 Option 1 $38,339.00 $460,066.00 $46.66 7.54% Cap Rate Option 2 $42,173.00 $506,072.00 $51.33 8.30% 6.23% Lot Size Tenant Summary ± 1.48 AC Tenant Trade Name Mattress Firm GLA ± 9,860 SF Type of Ownership Fee Simple Lease Guarantor Mattress Firm YEar Built 2014 Lease Type NN+ Roof and Structure Landlord Responsible Original Lease Term 12 Years Rent Commencement Date 11/6/2015 Lease Expiration Date 11/6/2027 Term Remaining on Lease ± 9.8 Years Increases 10% At Year 5 Options Two, 5-Year Options 7 Black Cookie Meg 43 Addiction US Storage Little Centers Thai TENANT8 OVERVIEW 8 TENANT OVERVIEW The company set out to be a different kind of mattress retailer; focused on creating a unique shopping experience for the customer with a large selection of quality, brand name bedding products, competitive pricing and knowledgeable, well-trained associates. The bedding retailer operates or franchises more No. of Locations than 3,600 stores, primarily under the Mattress Firm name, in some 49 states. It sells conventional ± 3,600 (Simmons) and specialty (Tempur Sealy) mattresses, which together account for most of its sales, in addition to other brands. The company also sells bed frames and bedding accessories. Since its founding in 1986, the chain has grown into the top U.S. bedding retailer. STRATEGY No. of Employees ± 10,552 Since its 2011 IPO, Mattress Firm has made multiple acquisitions to solidify its position as the nation’s top mattress seller. Fast-growing Mattress Firm is doing its bit to further the consolidation of the mattress business through an active acquisition schedule, both of independent chains and its own franchisees. The retailer has extended its reach into new markets, including Hawaii, and consolidated its hold on existing ones, by snapping up other bedding companies. Indeed, in fiscal 2015 (ends January) alone, the Headquarters company added about 800 locations. Houston, TX GEOGRAPHIC REACH Houston-based Mattress Firm boasts more than 3,600 stores in 49 states. Its largest markets include Florida, home to about 280 stores, Illinois and North Carolina, both with more than 100 locations. The company operates 70 distribution centers, the largest of which are in Texas, Florida, and Georgia. Year Founded 1986 9 The Offering APN GLA 461425 ± 9,860 SF Lot Size Year Built ± 1.48 AC (64,382 SF) 2015 Hwy 14 ± 75,000 ADT PROPERTY DETAILS 10 EAST BOUND Heights Pediatrics Ecoblu Spa Market Heights Subject Property 11 WEST BOUND Black Cookie Meg 43 Addiction Market US Storage Little Heights Centers Thai Subject Property 12 12 AREA OVERVIEW 13 Harker Heights, TX Harker Heights is the third largest city in Bell County. It was incorporated in 1960 and is named after one of the original landowners and founders, Harker Kern. It is a simple, yet upcoming area, with a large amount of growth potential. Less than 5 miles from Fort Hood, many military families live in Harker Heights. The crime rate is lower than the state average with a great education system. The city has been focusing on renovating all the recreation centers and have developed clean and welcoming parks that host special events, athletic programs, and much more. The most common industries in the area are within public administration and retail trade. A majority of residents occupations are in office administration and sales. Demographics Population 1 Mile 3 Mile 5 Mile 2023 Projection 9,986 57,459 120,054 2018 Estimate 9,419 53,265 112,480 2010 Census 8,798 47,442 101,609 Households 1 Mile 3 Mile 5 Mile 2023 Projection 3,593 20,170 44,956 2018 Estimate 3,383 18,741 42,055 2010 Census 3,142 16,773 37,836 Income 1 Mile 3 Mile 5 Mile Average Household $73,597.93 $75,532.07 $66,291.97 Income 14 14 Fort Hood Fort Hood, located in Killeen, TX, is the largest military base in the world. It is more than 215,000 acres and is the halfway point between Austin and Waco. Because of the wide-spread space, It is the most populated US Military base with over 65,000 people. The base originally needed the large amount of space to test and train WWII tank destroyers. Today it is home to the Headquarters III Corps, First Army Division West, the 1st Cavalry Division, 13th Sustainment Command, 89th Military Police Brigade, 504th Battlefield Surveillance Brigade, 85th Civil Affairs Brigade, 1st Medical Brigade, and the 69th Air Defense Artillery Brigade. The base also includes the Carl R. Darnall Army Medical Center and the Medical and Dental Activities. 15 CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of the Mattress Firm located at 200 E Central Texas Expy, Harker Heights, TX (“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. 16 EXCLUSIVE LISTING ™ AGENT: Clay Smith chad kurz Associate SVP & National Director [email protected] [email protected] DIR (214) 692-2216 DIR (214) 692-2927 MOB (404) 316-3197 MOB (562) 480-2937 LIC # 693140 (TX) LIC # 01911198 (CA) Kyle Matthews Broker of Record Lic # 9005919 (TX) MATTRESS FIRM 200 E CENTRAL TEXAS EXPY, HARKER HEIGHTS, TX 76548 17.
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