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Walmart NHM (Summerhill)-OM.Indd Walmart Neighborhood Market Ground Lease OFFERING MEMORANDUM 3302 Summerhill Road, Texarkana, Texas Net Lease Investment Services In association with: Christopher Sheldon Andrew Bogardus Ed Colson Jr., CCIM +1 415 677 0441 +1 415 677 0421 +1 858 546 5423 [email protected] [email protected] [email protected] Lic #01806345 Lic #00913825 TX Lic #635820 Net Lease Investment Services Disclaimer The information contained in this marketing brochure (“Materials”) is proprietary The information contained in the Materials has been obtained by Agent from and confi dential. It is intended to be reviewed only by the person or entity receiving sources believed to be reliable; however, no representation or warranty is made the Materials from DTZ (“Agent”). The Materials are intended to be used for regarding the accuracy or completeness of the Materials. Agent makes no the sole purpose of preliminary evaluation of the subject property/properties representation or warranty regarding the Property, including but not limited to (“Property”) for potential purchase. income, expenses, or fi nancial performance (past, present, or future); size, square footage, condition, or quality of the land and improvements; presence or absence The Materials have been prepared to provide unverifi ed summary fi nancial, of contaminating substances (PCB’s, asbestos, mold, etc.); compliance with laws property, and market information to a prospective purchaser to enable it to and regulations (local, state, and federal); or, fi nancial condition or business establish a preliminary level of interest in potential purchase of the Property. The prospects of any tenant (tenants’ intentions regarding continued occupancy, Materials are not to be considered fact. The information contained in the Materials payment of rent, etc). A prospective purchaser must independently investigate is not a substitute for thorough investigation of the fi nancial, physical, and market and verify all of the information set forth in the Materials. A prospective purchaser conditions relating to the Property. is solely responsible for any and all costs and expenses incurred in reviewing the Materials and/or investigating and evaluating the Property. By receiving the Materials you are agreeing to the Confi dentiality and Disclaimer set forth herein. Walmart Neighborhood Market i Net Lease Investment Services Investment Off ering & Highlights The Off ering • Approximately 5.84 acres of land, ground leased to Walmart Neighborhood Market for 20 years and guaranteed by Wal-mart Stores, Inc., beneath a brand new 42,452 square foot supermarket and 176 square foot fuel station built in 2014/2015. The improvements were constructed and owned by the tenant. • Price: $6,070,000 – 4.15% Cap Rate Tenant / Lease • Walmart Stores, Inc. is ranked #1 on the Fortune 500 • Walmart had revenues of $476 billion, net income of $16 billion and a total stockholders’ equity of $76 billion for the fi scal year ending January 2014 • S&P rated “AA” investment grade credit • New 20 year ground lease with no landlord maintenance responsibilities • Extremely attractive 10% rental increase in Year 11 and 5% rental increases every 5 years starting in the options Real Estate / Area Strengths • Brand new construction • Located at the northeast corner of Summerhill Road and College Drive • Solid real estate intrinsics at $24 per square foot (land) • Large lot size • Summerhill Road is a major retail corridor in central Texarkana with solid traffi c counts Walmart NeighborhoodSKF USA, Market Inc. 2ii Table of Contents Disclaimer i Investment Off ering & Highlights ii Investment Overview 1 Walmart Neighborhood Market 2 Site Plan 3 Aerials 4 Location Map 6 Texarkana Area Map 7 Economy 8 Education 8 Transportation 9 Demographics 10 In association with: Christopher Sheldon Andrew Bogardus Ed Colson Jr., CCIM +1 415 677 0441 +1 415 677 0421 +1 858 546 5423 [email protected] [email protected] [email protected] Lic #01806345 Lic #00913825 TX Lic #635820 Net Lease Investment Services Investment Overview Location Annual Rent 3302 Summerhill Road, Texarkana, Texas Years Annual Rent Return 1 - 10 $251,889 4.15% Lot Size 11 - 20 $277,078 4.56% Approximately 5.84 acres – 254,390± square feet 21 - 25 (Option 1) $290,932 4.79% 26 - 30 (Option 2) $305,478 5.03% Improvements 31 - 35 (Option 3) $320,752 5.28% Completed in 2014/2015, a 42,452± square foot single story retail building and 176 square foot fuel station for WALMART NEIGHBORHOOD MARKET. 36 - 40 (Option 4) $336,790 5.55% 41 - 45 (Option 5) $353,629 5.83% • The improvements are built and owned by the tenant. The improvements are not for sale. 46 - 50 (Option 6) $371,311 6.12% 51 - 55 (Option 7) $389,876 6.42% Lease 56 - 60 (Option 8) $409,370 6.74% Leased to WAL-MART REAL ESTATE BUSINESS TRUST dba WALMART 61 - 65 (Option 9) $429,839 7.08% NEIGHBORHOOD MARKET, and guaranteed by WAL-MART STORES, INC., for 66 - 70 (Option 10) $451,331 7.44% 20 years from January 2015 until January 2035. The annual net rent of $251,889 increases by 10% in Year 11. The lease is triple net with the tenant responsible 71 - 75 (Option 11) $473,897 7.81% for all taxes, insurance and maintenance, including roof and structure. There are 76 - 80 (Option 12) $497,592 8.20% fi fteen 5-year options to renew with 5% increases in each option. 81 - 85 (Option 13) $522,472 8.61% 86 - 90 (Option 14) $548,595 9.04% Rent Per Square Foot 91 - 95 (Option 15) $576,025 9.49% $5.93 net per year – $0.49 net per month (as applied to building) Financing Price: $6,070,000 – 4.15% Cap Rate The property will be delivered free and clear of permanent fi nancing. Walmart Neighborhood Market 1 Net Lease Investment Services Walmart Neighborhood Market WALMART NEIGHBORHOOD MARKET, a subsidiary of WAL-MART STORES, INC., (NYSE: WMT), is a chain of grocery stores launched by Walmart in 1998. With over 286 Neighborhood Markets in the United States, they feature a wide variety of products, including fresh produce, deli foods, fresh meat and dairy items, health and beauty aids, one-hour photo and traditional photo developing services, drive-through pharmacies, stationery and paper goods, pet supplies, and household chemicals. The Neighborhood Market is Walmart’s smaller grocery concept which gives customers a more convenient shopping experience than the typical Walmart Supercenter. The Supercenter is typically 160,000 square feet and in contrast the Neighborhood Market is approximately 40,000 square feet and has a fuel center for increased convenience. Walmart’s strategy is to open another 270 of these small-format stores and have a total of 500 operating by early 2015. For the fi scal year ended January 31, 2014, Wal-Mart Stores, Inc., reported total revenue of $476 billion, net income of $16.02 billion and stockholder’s equity of $76.25 billion. Additional information can be found at www.walmart.com. WAL-MART STORES INC., GUARANTEES THE LEASE. Walmart Neighborhood Market 2 Site Plan Net Lease Investment Services DRIVE-THRU PALLET / BALE STORAGE AREA C.C. WASTE BIN AREA C.C. RETAINING WALL SUMME WITH FENCE DELIVERY C.C. DOCK DOORS 42,452± SF VAN C.C. R H VAN I L L R OAD C.C. C.C. STORMWATER DETENTION AREA SERVICE BLDG 176 SF COLLEGE DRIVE Walmart NeighborhoodFedEx GroundMarket 73 TTEXARKANAEXARKANA HIGHHIGH SCHOOLSCHOOL Net Lease Investment Services EELLISLLIS PPOTTERYOTTERY S U M M E R H I L PPETEETE MANKINSMANKINS NISSANNISSAN L R O O A A D D TTRINITYRINITY CCITYITY CCOLLISIONOLLISION TTEXASEXAS MIDDLEMIDDLE SCHOOLSCHOOL GATEWAY TIRE & SERVICE CENTER BBRIGHTONRIGHTON MMANORANOR LONE OAK PLAZA AAPARTMENTSPARTMENTS KKEYEY IINSURANCENSURANCE SSUMMERHILLUMMERHILL SSTORAGETORAGE GGROUPROUP PATTERSONSPATTA E CCAMERAAMERA SSHOPHOP & IIMAGINGMAGING CCENTERENTER TTEXASEXAS MIDDLEMIDDLE SCHOOLSCHOOL COLLEGE DRIVE COLLEGE DRIVE COLLEG DRIVE OORRRR AAUTOUTO AADVANTAGEDVANTAGE S S U CROSS LANDER U M M M M E E R R H I L R L MMCLARTYCLARTY FFORDORD IC DDISCOUNTISCOUNT WWHEELHEEL & TTIREIRE R H O M A O D N D R O A D EEXPRESSXPRESS AAUTOUTO FFINANCEINANCE OORRRR AAUTOSMARTUTOSMART RANEY MOTOR EELITELITE LIMOSINELIMOSINE RRESPIRATORYESPIRATORY PPLUSLUS CCAR-MARTAR-MART Walmart NeighborhoodFedEx GroundMarket 47 SUMMERHI LL ROAD R I C H MOND ROAD 30 CCHRISTUSHRISTUS SST.T. MMICHAELICHAEL HHEALTHEALTH SYSTEMS R IICH R O AAD RRICHMONDICHMOND D RRANCHANCH SSHOPPINGHOPPING CENTER CCENTRALENTRAL TEXARKANAKAANANAA MMALLALL PAVILIONON TTOWNOWN WWESTEST SSHOPPINGHOPPING CCENTERENTER 30 RICH MO ND RO AD S S S S S U M M E R H I L L R O A TTEXARKANAEXARKANA D NEW BOSTON ROAD CCOLLEGEOLLEGE 87 395 NEW BOSTON ROAD 87 NEW BOSTON ROAD Walmart Neighborhood Market 5 I C H M O N D R O AD S MOORES LANE UM M E MOORES LANE R H I L L R O Location A D The property is located at 3302 Summerhill Road 559 at College Drive, 1½ miles southeast of Interstate 30, 1.2 miles north of New Boston Road (Highway CO MMON CREEK ROAD CO 82), and 3.3 miles east of Interstate 369. 71 CHRISTUS MCKNIGHT ROAD E ST. MICHAEL RIV National and regional tenants in the local area L D E A HEALTH CH I . M include CVS, Subway, McDonald’s, Arby’s, ST SYSTEM SUM R Walgreens, Hobby Lobby, Albertsons, Ross Dress IC H M M O E for Less, Golden Corral, Wells Fargo, Lowe’s, RIVE N D R D RO L H AL I M L Walmart Supercenter, Academy Sports, Ashley AD L R 59 OAD Furniture HomeStore, GameStop, Dollar General, D A Olive Garden, Home Depot, Starbucks, Kohl’s, O R L E E Best Buy, Big Lots, AutoZone, Whataburger, Sonic R C N Drive-In, and Books-A-Million. CENTRAL O M M W.W.
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