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Mattress Firm Inc OFFERING MEMORANDUM 1506 Southlake Parkway | Morrow, GA 30260 Actual Property Image INVESTMENT SUMMARY 03 • Investment Summary • Investment Highlights AREA OVERVIEW 05 • Location Map • Aerial & Retail Maps Actual Property Image • City Overview Exclusively Marketed By: Sands Investment Group TENANT OVERVIEW 10 • Tenant Profile Clifton McCrory Max Freedman Dan Hoogesteger Andrew Ackerman Lic. # 99847 Lic. # 644481 Lic. # 01376759 Lic. # 311619 843.779.8255 | DIRECT 512.766.2711 | DIRECT 310.853.1419 | DIRECT 770.626.0445 | DIRECT LEASE ABSTRACT [email protected] [email protected] [email protected] [email protected] 12 • Lease Summary • Rent Roll © 2018 Sands Investment Group (SIG). The information contained in this ‘Offering Memorandum,’ has been obtained from sources believed to be reliable. Sands Investment Group does not doubt its accuracy, however, Sands Investment Group makes no guarantee, representation or warranty about the accuracy contained herein. It is the responsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine it’s accuracy and completeness. Any and all projections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no guarantee or assurance In Cooperation with Sands Investment Group Atlanta, LLC these projections, market assumptions and cash flow analysis are subject to change with property and market conditions. Sands Investment Group encourages all potential BoR: Andrew Ackerman - Lic # H-67374 interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction. PROPERTY SUMMARY OFFERING SUMMARY ADDRESS 1506 Southlake Parkway PRICE $2,162,138 Morrow, GA 30260 CAP 8.00% COUNTY Clayton NOI $172,971 BUILDING AREA 10,241 SF PRICE PER SF $211.13 LAND AREA 1.16 Acres BUILT 1988 / 2012 YEARS REMAINING 5 Years INVESTMENT SUMMARY INVESTMENT 3 Actual Property Image Actual Property Image INVESTMENT HIGHLIGHTS INVESTMENT • 100% Leased Building at $16.89 Per Square Foot Annually • Building Cost at $211 Per Square Foot • First Signalized Corner off Hwy 75 with Traffic Counts Over 35,500 VPD on Jonesboro Rd • Outparcel to Burlington and TJ Maxx Anchored Power Center; and Entrance of the Southlake Mall (Sears, Macy's) • 16 Miles South of Downtown Atlanta; or a 20 Minute Drive • Key Intersection In Front of Costco • Within Walking Distance of Over 720 Multi-Family Units (Average Occupancy of 97.2%) and Over 430,000 SF of Office Space (Average Occupancy of 96.4%) • Select Nearby Tenants: Publix Supermarket, Burlington, T.J. Maxx, Smoothie King, Finish Line, David’s Bridal, Ross Dress for Less, Game Stop, Carrabba’s Italian Grill, TGI Fridays, Strayer University and The Interactive College of Technology 44 LOCATION MAP LOCATION 55 Actual Property Image AERIAL MAP Jonesboro Rd Phantom Fireworks Southlake Festival Shopping Center Southlake Pkwy 6 RETAIL MAP RETAIL Mt. Zion Rd Jonesboro Rd Mt. Zion Prkwy 57 Tal-Kno AREA OVERVIEW C M Food Shop SUBJECT PROPERTY DEMOGRAPHICS 1 Mile 3 Mile 5 Mile Population 5,015 76,060 189,554 Average Household Income $49,979 $48,976 $49,864 58 MORROW, GA ABOUT THE CITY Morrow is a city in Clayton County, Georgia with a population of 7,276 in 2016. Morrow is part of the Atlanta Metropolitan Area, which is the most populous metro area in Georgia and the ninth- largest metropolitan statistical area (MSA) in the United States. The Georgia Metropolitan Statistical AREA OVERVIEW Area is included in the Atlanta-Sandy Springs-Gainesville, Georgia-Alabama Combined Statistical Area. This CSA spans up to 39 counties in north Georgia with about 6.3 million people making this the third largest metropolitan region after Greater Washington and South Florida. CLAYTON COURTHOUSE ECONOMY The City of Morrow is constantly welcoming new business and commercial opportunities into the area making this a great commuter community for Atlanta. Atlanta is rated a "beta(+)” world city that exerts a moderate impact on global commerce, finance, research, technology, education, media, art, and entertainment. It ranks 38th among world cities and 10th in the nation with a gross domestic product of $320 billion. Atlanta's economy is considered diverse, with dominant sectors that include logistics, professional and business services, media operations and information technology. ATLANTA SKYLINE CULTURE & CONTEMPORARY LIFE Originally a small railway stop between Jonesboro and Atlanta, Morrow has grown to a vibrant commercial hub, offering visitors unique shopping, dining and entertainment venues, as well as convenience to nearby Hartsfield-Jackson International Airport and the cosmopolitan amenities of Atlanta. Visitors can seek out their own history at the National Archives at Atlanta and the Georgia Archives where the famous, infamous and anonymous of years past may be found. In the mood for a concert? Head to Spivey Hall, a world-renowned performance facility that has presented the finest in jazz and classical music to metro Atlanta since 1993. Even with its close proximity to Atlanta, visitors SPIVEY HALL LONE STAR PARK will still find lots of nature and outdoor adventures. 119 Actual Property Image Mattress Firm Inc. is an American retailing company and mattress store chain founded on July 4, 1986. The headquarters of the company is located in Houston, Texas. Mattress Firm acquired Sleep Train in 2014. In September TENANT OVERVIEW 2016, Steinhoff International Holdings N.V. completed it's acquisition of Mattress Firm and Mattress Firm is now a subsidiary of Steinhoff. As of August 2016, Steinhoff held retailing activities in 30 countries, counting 6,500 retail outlets belonging to 40 different brands, and employing about 90,000 employees. 60% of the company's revenue, and 2/3 of its benefits, are made in Europe. Steinhoff expanded into the United States market on August 7, 2016. Steinhoff's South African brands include HiFi Corp, Pennypinchers, Timbercity, Pep, Ackermans, Shoe City, Incredible Connection, and Unitrans. In the UK, Steinhoff owns the high street brands Cargo, Harveys Furniture, Bensons for Beds, Sleepmaster and Pep&Co. Actual Property Image COMPANY TYPE FOUNDED # OF LOCATIONS NET WORTH HEADQUARTERS WEBSITE Subsidiary 1986 3,600 $50 Million Houston, TX mattressfirm.com 10 TENANT OVERVIEW Actual Property Image The acquisition of MFRM created one of the world’s largest multi-brand mattress retail distribution networks and facilitate Steinhoff’s entry into the US market. MFRM provides an attractive value proposition: • Compelling industry dynamics, with long term stability and consistent growth • A best-in-class specialty retailer (25% market share) with a national retail and distribution footprint and leading market position in the US • A proven track record of driving profitability, and a strong free cash flow to support growth • Opportunity for growth through store expansion, market consolidation and vertical integration • A highly experienced and entrepreneurial management team • Broader global geographical spread for the combined group, and greater revenue and profit exposure to US dollars creating a natural hedge to the group’s sourcing costs 11 Actual Property Image LEASE SUMMARY TENANT Mattress Firm, Inc. A Building of Approximately PREMISES 10,241 SF LEASE COMMENCEMENT April 2, 2012 LEASE LEASE ABSTRACT LEASE EXPIRATION April 30, 2023 LEASE TERM REMAINING 5 Years RENEWAL OPTIONS 3 x 5 Years RENT INCREASES 10% Every 5 Years LEASE TYPE Double Net (NN) USE Retail PROPERTY TAXES Tenant’s Responsibility INSURANCE Tenant’s Responsibility COMMON AREA Tenant’s Responsibility ROOF Tenant Responsible for All Repairs STRUCTURE Landlord’s Responsibility REPAIRS & MAINTENANCE Tenant’s Responsibility HVAC Tenant’s Responsibility UTILITIES Tenant’s Responsibility 1212 Actual Property Image RENT RENT ROLL TENANT SQUARE % OF ANNUAL RENT RENTAL LEASE LEASE OPTIONS NAME FOOTAGE TOTAL BASE RENT PER SF INCREASES BEGIN END Mattress Firm, Inc. 10,241 SF 100% $172,971 $16.89 10% Every 5 Years 04/02/2012 04/30/2023 3 x 5 Years 1313 The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Sands Investment Group and should not be made available to any other person or entity without the written consent of Sands Investment Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business CONFIDENTIALLY AGREEMENT CONFIDENTIALLY prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, Sands Investment Group has not verified, and will not verify, any of the information contained
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