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Goodyear 30270 Eastern Shore Ct Spanish Fort, AL

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Goodyear 30270 Eastern Shore Ct Spanish Fort, AL GOODYEAR AUTO SERVICE 30270 EASTERN SHORE CT | SPANISH FORT, AL OFFERING MEMORANDUM ™ 1 | Goodyear Table of Contents Executive Financial Tenant Area 03Overview 04Overview 07Overview 10Overview Christopher Laskero Braden Crockett Associate Associate VP & Director DIRECT (214) 692-2921 DIRECT (214) 692-2040 MOBILE (858) 414-7849 MOBILE (714) 345-6206 [email protected] [email protected] LIC # 677086 (TX) LIC # 01946071 (CA) BROKER OF RECORD KYLE MATTHEWS LIC # 110253 (AL) | 2 Executive Overview Goodyear • NN+ Leased Property – Landlord has Minimal Responsibilities Property • Tenant recently extended lease term to represent a full 10-Year Term demonstrating a strong commitment to Details the location • Healthy 5% rental increases throughout the base term of the lease including the designated option periods providing a strong hedge against inflation • Efficient 5-Double Bay Store Footprint – Allows tenant to maximize capacity while minimizing fixed costs • Tenant Improvements will include the replacement of the Roof with a transferable warranty prior to closing • Property is located along State Route 181 which Boasts Traffic Counts in excess of 10,000 VPD Retail • Immense Population Growth – Average Growth exceeding 20% in a 1,3, & 5-Mile Radius from 2010-2018 with Trade Area strong future growth anticipating an additional 10% increase over the next 5 years • Healthy Average Household Income Profile – Over $50,000 within a 1, 3, & 5-Mile Radius • Property is ideally situated in Eastern Shore Plaza with nationally recognized tenants such as Best Buy, Old Navy, Ross, World Market, Ashley Homestore, Panera Bread, Cracker Barrel, Michaels, PetSmart, Dollar Tree, and more • Property is also adjacent to Eastern Shore Shopping Center encompassing roughly 540,000 SF of retail on roughly 6+ acres of designated land Tenant • For the Fiscal Year of 2017, The Goodyear Tire & Rubber Company had a total annual revenue of $15.4 Billion. • Proven Track record of corporate success with approximately 1,000 locations nationwide. • Corporate Guaranteed Lease – 100% leased to the Goodyear Tire & Rubber Co. 3 | FinancialExecutive Overview Overview Investment Summary » ADDRESS 30270 Eastern Shore Ct Spanish Fort, AL 44312 » LIST PRICE $1,833,600 » NOI $114,600 » CAP RATE 6.25% » GLA ± 6,961 SF » LOT SIZE ± 0.98 AC (42,527 SF) » YEAR BUILT 2005 » NUMBER OF STORIES One | 4 Goodyear Annualized Operating Data Parcel Map Monthly Rent Annual Rent Rent/PSF Cap Rate Current - 11/30/2023 $9,550 $114,600 $16.46 6.25% 12/1/2023 - 11/30/2028 $10,027 $120,324 $17.29 6.56% Option 1 $10,528 $126,336 $18.15 6.89% Option 2 $11,055 $132,660 $19.06 7.23% Option 3 $11,608 $139,296 $20.01 7.60% Tenant Summary Tenant Trade Name Goodyear Tire Type of Ownership Fee Simple Lease Guarantor Corporate Lease Type NN+ Roof and Structure Landlord Responsible Term Remaining on Lease 10 Years Lease Commencement Date 10/11/2018 Rent Commencement Date 12/01/2018 Lease Expiration Date 11/30/2028 Increases 5% Every 5 Years Options 5% Every 5 Years 5 | TenantTenant Overview Overview Tenant Overview » Company Name » Year Founded » Headquarters Goodyear 1898 Akron, OH » Type » Industry » Website Subsidiary Manufacturing www.goodyear.com Goodyear is one of the most recognized brand names in the tire industry. Goodyear is one of the world’s leading tire companies with operations in most regions of the world. Goodyear develops, manufactures, markets, and distributes tires for most applications. It also manufactures and markets rubber-related chemicals for various applications. Goodyear is one of the world’s largest operators of commercial truck service and tire retreading centers. In its ±1,000 tire and auto service center outlets nationwide it offers its products for retail sales and provides automotive repair and other services. Goodyear has marketing operation in almost every country around the world and manufactures its products in 48 facilities in 21 countries. Goodyear has been recognized by Fortune as the world’s most admired tire maker in 2016, a recognition Goodyear has received for five straight years. Among companies in Fortune’s World’s Most Admired Companies’ Motor Vehicle Parts category Goodyear was also the No. 1 ranked US based company and ranked No. 2 overall. Goodyear finished ahead of its key global tire competitors in overall score and in seven of the nine categories. $15.4 B 66,000 + 1,000 ± Annual Sales Employees Locations | 6 Tenant Map Eastern Shore Centre HWY 181 ± 10,000 VPD | 8 Goodyear HWY 10 ± 39,000 VPD Eastern Shore Plaza 9 | Area ExecutiveOverview Overview Spanish Fort, AL The city of Spanish Fort sits in Baldwin County, Alabama on the eastern shore of Mobile Bay. The city is a suburb of Mobile and is part of the Daphne-Fairhope-Foley micropolitan area. Spanish Fort has seen significant growth since 1993. The Eastern Shore Centre provides visitors and locals an open-air regional shopping complex that is anchored by a Bass Pro Shop, J.C. Penny, and Khol’s, Pottery Barn, and Williams-Sanoma. This city has a rich history as the land was the site of a counterattack by the British forces dispatched from Pensacola in 1781. The British were unsuccessful in recapturing the area and following the War of 1812, Spanish Fort became commonly referred to as official property of the United States. Demographics POPULATION 1 - MILE 3 - MILE 5 - MILE 2023Projection 5,832 47,833 135,819 2018 Estimate 6,003 48,768 135,525 2010 Census 6,018 49,408 136,964 HOUSEHOLDS 1 - MILE 3 - MILE 5 - MILE 2023 Projection 2,553 21,287 58,439 2018 Estimate 2,563 21,133 56,826 2010 Census 2,472 20,615 55,336 INCOME 1 - MILE 3 - MILE 5 - MILE Average Household $54,024 $57,945 $60,434 Income | 10 Goodyear Mobile, AL Culture of Mobile Mobile is the county seat of Mobile County, Alabama and is the principal municipality of the Mobile’s French and Spanish colonial history has given it a culture Mobile metropolitan area. This region of 412,992 residents is composed solely of Mobile distinguished by French, Spanish, Creole, African and Catholic heritage, in County; it is the third-largest metropolitan statistical area in the state.The city of Mobile is only addition to later British and American influences. It is distinguished from a quick 10 minute drive from Spanish Fort, Alabama making it a popular easy destination. all other cities in the state of Alabama. The annual Carnival celebration is perhaps the best example of its differences. Mobile is the birthplace Alabama’s only saltwater port, Mobile is located on the Mobile River at the head of the Mobile of the celebration of Mardi Gras in the United States and has the oldest Bay and the north-central Gulf Coast. The Port of Mobile has always played a key role in the celebration, dating to the early 18th century during the French colonial economic health of the city, beginning with the settlement as an important trading center period. between the French colonists and Native Americans, down to its current role as the 12th- largest port in the United States. Carnival in Mobile evolved over the course of 300 years from a beginning as a sedate French Catholic tradition into the mainstream multi-week celebration that today bridges a spectrum of cultures. Mobile’s official Economic Development cultural ambassadors are the Azalea Trail Maids, meant to embody the ideals of Southern hospitality. Mobile Aeroplex at Brookley, an expanding aerospace industry hub, captured the global business spotlight when Airbus selected Mobile for its only assembly site in the western hemisphere. Construction is underway on this $600 million project, and the first deliveries are expected in 2016. Industry companies including Airbus, Continental Motors, and VT MAE continue to expand local operations. Austal USA is Mobile’s largest manufacturing employer. The company now has more than 4,200 employees working on military contracts of up to $5.1 billion. Austal will build up to 12 Littoral Combat Ships and 10 Joint High-Speed Vessels for the U.S. Navy. | 11 11 | Executive Overview New Developments Mobile Aeroplex at Brookley, an expanding aerospace industry hub, captured the global business spotlight when Airbus selected Mobile for its only assembly site in the western hemisphere. Construction is underway on this $600 million project, and the first deliveries are expected in 2016. Industry companies including Airbus, Continental Motors, and VT MAE continue to expand local operations. Austal USA is Mobile’s largest manufacturing employer. The company now has more than 4,200 employees working on military contracts of up to $5.1 billion. Austal will build up to 12 Littoral Combat Ships and 10 Joint High-Speed Vessels for the U.S. Navy. | 12 Goodyear Confidentiality Agreement and Disclaimer This Offering Memorandum contains select information pertaining to the business and affairs ofGoodyear located at 30270 Eastern Shore Ct, Spanish Fort, AL (“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.
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