480 Fulton Street Brooklyn, NY
480 Fulton Street Brooklyn, NY Confidential Offering Memorandum Champs Sports Financial summary 480 Fulton Street Brooklyn, NY Asset Summary Asking Price Cap Rate NOI Increases Term Remaining $16,980,220 5.01% $851,511 3% 12 years Investment Highlights Rent/Month $85,779 - Located on a prime retail corridor in Downtown Brooklyn Fulton Mall featuring hundreds of small and national businesses Gross Building SF 8,965 - Credit BB- tenant, subsidiary of Footlocker with long-term lease Rentable SF 6,740 - Proximity to three subway stations servicing all major subway lines First Floor 2,907 sf including 2 3 4 5 B D N Q R W Second Floor 926 sf - Champs is in the center of Citypoint surrounded by retailers such as Macy’s, Target, Express and Chase Bank Cellar Floor 3,067 sf Tenant Footlocker, Inc. Champs Sports Ownership Type Fee Simple Guarantor Parent Lease Commencement February 14, 2017 Rent Commencement June 14, 2017 Lease Expiration January 31, 2033 Avison Young | Confidential Offering Memorandum 2 Champs Sports Rent schedule 480 Fulton Street Brooklyn, NY Term Increases Annual Rent Monthly 7/1/2017 - 6/30/2018 - $942,000 $78,500 7/1/2018 - 6/30/2019 3.00% $970,260 $80,855 7/1/2019 - 6/30/2020 3.00% $999,368 $83,281 7/1/2020 - 6/30/2021 3.00% $1,029,349 $85,779 7/1/2021 - 6/30/2022 3.00% $1,060,229 $88,352 7/1/2022 - 6/30/2023 3.00% $1,092,036 $91,003 7/1/2023 - 6/30/2024 3.00% $1,124,797 $93,733 7/1/2024 - 6/30/2025 3.00% $1,158,541 $96,545 7/1/2025 - 6/30/2026 3.00% $1,193,297 $99,441 7/1/2026 -6/30/2027 3.00% $1,229,096 $102,425 7/1/2027 - 6/30/2028 3.00% $1,265,969 $105,497 7/1/2028 - 6/30/2029 3.00% $1,303,948 $108,662 7/1/2029 - 6/30/2030 3.00% $1,343,067 $111,922 7/1/2030 - 6/30/2031 3.00% $1,383,359 $115,280 7/1/2031 - 6/30/2032 3.00% $1,424,859 $118,738 7/1/2032 - 1/31/2033 3.00% $1,467,605 $122,300 Avison Young | Confidential Offering Memorandum 3 Champs Sports Tenant overview 480 Fulton Street Brooklyn, NY About Champs Sports Foot Locker, Inc.
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