Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY REDEVELOPMENT OPPORTUNITY
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CONTACTS Landmark Property & Development, LLC is proud to announce this exciting redevelopment opportunity with an asking price of $5,500,000. This retail location will close to the public on October 24th, 2020 and will be available for re-occupancy or redevelopment on or about PURCHASING GUIDELINES December 1, 2020. We invite you to review this information package and to make an offer on this property. A printed version of this package is available upon request. Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTYPROPERTY SUMMARY SUMMARY PROPERTY SUMMARY PROPERTY DESCRIPTION 6748 South Redwood Road, West Jordan, Utah 84084 • Located at the NWQ of Redwood Rd and 7000 South, in • Outparcels - There are several retail pads within the larger AERIALS West Jordan, UT. West Jordan is the 2nd largest city in West Jordan Town Center development, however there are Utah and is located on the west side of Salt Lake County. no outparcels on the subject property. After multiple meetings The site is situated on the main retail corridor along with the City of West Jordan, the City may allow two additional PLANS & PHOTOS Redwood Rd. Other major retailers in the trade area pad sites on the subject property along Redwood Rd. include Walmart, Smith’s Grocery, Harmon’s Grocery, Regal Cinemas, T.J. Maxx, Ross, Lucky Market, Harbor • Exposure - Both the storefront and the pylon signs are Freight, Petco, and JoAnn Fabrics. The site fronts the visible from both north and south bound traffic along DEMOGRAPHICS southbound side of Redwood Rd. and is located 9.46 Redwood Rd. miles South West of Downtown Salt Lake City.
MAPS • Traffic Counts on Redwood Rd are 44,731 ADT, and 25,317 ADT on 7000 South located at the south end of the adjacent shopping center. DEMOGRAPHICS (2019 ESTIMATE) MARKET DATA • Great access to the site with 2 full access curb cuts to the 5 MILE Target parking lot. The subject property is located 1.12 POPULATION 409,552 miles south of the I-215 interchange that has 113,132 LEGAL DISCLAIMER cars per day. MEDIAN HH INCOME $66,672 AVERAGE HH INCOME $83,183 • Good signage with two large pylon sign along Redwood FILES FOR DOWNLOAD Rd, and one large pylon sign along 7000 South, with the MEDIAN AGE 32.5 potential for additional signage in the adjacent shopping NUMBER OF HOUSEHOLDS 134,527 center. Great visibility from Redwood Rd. TOTAL DAYTIME 402,242 CONTACTS • Subject property is directly adjacent to West Jordan Town TOTAL EMPLOYEES 198,487 Center a 180,132 SF retail shopping center occupied by Lucky Market, Petco, Granite Furniture, Batteries Plus PURCHASING GUIDELINES For a more detailed demographics report, see the Files Bulbs, and several other small retailers and restaurants. for Download section.
Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY PROPERTY DESCRIPTION All tours or investigations of the property must be pre-arranged with the broker. PROPERTYPROPERTY DESCRIPTIONDESCRIPTION The following information is included herein for informational TOPOGRAPHY / DRAINAGE reference purposes only and all building specifications shall The property sits at roughly the same grade at Redwood Rd. AERIALS be confirmed by Buyer at Buyer’s expense. and drains to the detention pond located on the south side of the building. Flat and regular, minimal slope. DESCRIPTION OF THE LAND LOCATION Located at the NWQ of Redwood Rd. and 7000 South, in SIGNAGE PLANS & PHOTOS West Jordan, UT. West Jordan is located in West Jordan, Two (2) pylon signs along Redwood Rd. with Target logo on which is located in Salt Lake County. The site fronts on the the top panel. The Northern pylon is shared with Petco and southbound side of Redwood Rd. and is located 9.46 miles DVD-Game Exchange on two lower panels. The Southern DEMOGRAPHICS southwest of Downtown Salt Lake City. pylon is shared with Massage Envy and Marco’s Pizza on two lower panels. Both pylons are approximately 35’ high LEGAL DESCRIPTION and very visible from Redwood Rd. There is one additional LOT 7, WEST JORDAN TOWN CENTER. MAPS Pylon sign along 7000 South with Target in a lower position (Parcel Number – 21223270090000) with Lucky Market in the top position and Del Taco occupying a small lower panel adjacent to Target. The third pylon is LEGAL OWNER / SELLER roughly 35’ tall and has great visibility to 7000 South. MARKET DATA Dayton Hudson Corporation (“Target”) ACCESS AVAILABILITY Two (2) curb cuts to the Target parking lot immediately east of LEGAL DISCLAIMER December 1, 2020 the site at full turn access points along Redwood Rd. SIZE PARKING The subject site contains approximately 121,956 SF of Asphalt paved parking lot. Initially site approved for FILES FOR DOWNLOAD building on 10.24 acres. approximately 534 parking spaces in the front field. Buyer to verify parking counts and ratio. CONFIGURATION/DIMENSIONS CONTACTS Irregular in shape, basically 393’ wide by 308’ deep fronting ZONING ANALYSIS Redwood Rd. Subject property is zoned SC-2 (which allows for a variety of uses including retail and food service.) AGE PURCHASING GUIDELINES Built in 1998. Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY PROPERTY DESCRIPTION EASEMENTS/ENCUMBRANCES EXTERIOR WALLS/WINDOWS PROPERTY DESCRIPTION The subject property features standard easements (Servitudes The exterior of the building is commercial concrete block in Utah) associated with drainage, access to the retention pond, construction CMU covered with EFIS. The stores features one utilities, access etc. primary entrance on the southern end facing east toward Redwood AERIALS Rd. UTILITIES Utilities to the property include water, sewer, electricity and ROOF/DRAINAGE PLANS & PHOTOS natural gas. Total 2019 utility costs were approximately $92,000. Roof Installed 2016 (only 3 years old), (Make) Sika, (Model) 60 mil Sikaplan CAM A Common Area Maintenance Agreement (see files for DIMENSIONS OF SPACE DEMOGRAPHICS download) governs maintenance of the shopping center. The Approximately 393’ wide by 308’ deep share of the 2020 CAM budget allocated to the Property is approximately $94,000. MAPS LOADING DOCKS TAXES: TAX YEAR 2019 The building features a three-bay, dock-high loading dock. MARKET DATA ASSESSED VALUE $10,657,200 AD VALOREM TAX PAID $129,655.00 EQUIPMENT AND MECHANICAL SYSTEMS LEGAL DISCLAIMER DESCRIPTION OF IMPROVEMENTS HVAC, ELECTRICAL AND PLUMBING HVAC - 20 units, totalling 146 tons, approximately 22 years old. EXTERIOR DESCRIPTION The units are manufactured by AAON. All were installed in 1998, FILES FOR DOWNLOAD with minimal work orders over the past 3 years. SIZE/DESIGN CONTACTS The building contains an estimated gross building area of approximately 121,956 SF. The building is generally rectangular in configuration. The center depth of the store is approximately 308’ with approximately 393’ of store frontage. PURCHASING GUIDELINES The building features a three-bay, dock-high loading dock. Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
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PROPERTY DESCRIPTION Redwood Rd Redwood Rd 7000 South AERIALS
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY DEMOGRAPHICS
PROPERTY DESCRIPTION The median age within 5 miles of the subject property is 32.5 years, with a median household income of $66,408. The estimated median housing value for 2019 was $321,428. Demographics represent only full-time residents and actual home AERIALS ownership.
PLANS & PHOTOS DEMOGRAPHICS (2019 ESTIMATE) 3 MILES 5 MILES 10 MILES DEMOGRAPHICS POPULATION 132,142 409,552 1,050,784 MEDIAN HH INCOME $68,672 $66,408 $74,119 MAPS AVERAGE HH INCOME $83,183 $82,273 $94,317 MEDIAN AGE 32.9 32.5 32.8 MARKET DATA NUMBER OF HH’s 42,915 134,527 343,332 TOTAL DAYTIME 124,950 402,242 1,093,870 TOTAL EMPLOYEES 59,844 198,487 565,600 LEGAL DISCLAIMER
For a more detailed demographics report, see the Files for Download section. FILES FOR DOWNLOAD
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
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PROPERTY DESCRIPTION 6748 SOUTH REDWOOD RD
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
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PROPERTY DESCRIPTION 6748 SOUTH REDWOOD RD
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY 2019 POPULATION INCOME MAP
PROPERTY DESCRIPTION 6748 SOUTH REDWOOD RD
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY MARKET DATA CITY OF WEST JORDAN, UTAH PROPERTY DESCRIPTION GEOGRAPHIC LOCATION The City of West Jordan (118,855 POP) is the second largest city in the state of Utah and is located on the west side of I-15 in Salt Lake AERIALS County (1.7M POP). The site is in close proximity to I-215 with 113,132 ADT. Traffic counts on the adjacent streets include 44,731 ADT on Redwood Rd. and 25,317 ADT on 7000 South.
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POPULATION DEMOGRAPHICS YEAR CITY OF WEST JORDAN 2019 118,855
MAPS CITY SUMMARY (City of West Jordan Information) This area of West Jordan is characterized by national and local retail and a growing housing market. The median household income in MARKETMARKET DATADATA a 5-mile radius is $66,408 with a population of 409,552, in 134,527 housing units (62.87% of the units are owned, 37.13% of the units are rented, and only 2.2% are vacant). Within a 3-mile radius, the median household income is slightly higher at $68,627 with a total population of 132,142 and a total number of household units at 42,915. The median home value in the area is $318,266 which is lower LEGAL DISCLAIMER than Salt Lake County at $461,191 and slightly lower than the state median home value of $363,583. There is one 220,000 SF Super Walmart store in this submarket, located 1.52 miles North on Redwood Rd. The other regional shopping center in the trade area is the 728,000 SF Crossroads at Taylorsville anchored by Target (opening Sept. 2020), Regal Cinema FILES FOR DOWNLOAD (opened 2017), Ross, T.J. Maxx (opened 2018), JoAnn Fabrics, and a Harmon’s Grocery (remodeled in 2017). West Jordan is located 9.36 miles south of Utah’s largest International Airport that is currently going through a $4 Billion expansion that will be completed in various phases with the final phase scheduled for completion in 2024. CONTACTS
PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY MARKET DATA THE TOP REASONS WHY YOU SHOULD CHOOSE WEST JORDAN PROPERTY DESCRIPTION • Strong business advocacy and environment, providing economic development relocation incentives on a state and local level. • Extensive transportation system including multiple interstate highways, bus, rail, and air transportation. • Great public educational. AERIALS • Extensive recreational opportunities in the surrounding areas such as skiing, mountain biking, hiking, camping, rock climbing, fishing, and many others. • Only 9.46 Miles from Downtown Salt Lake. PLANS & PHOTOS • 15-minute drive time from the two largest indoor shopping malls in the state, City Creek Mall and Fashion Place Mall. • Close proximity to a multitude of restaurants and services.
DEMOGRAPHICS EDUCATION The City of West Jordan is home to 107 schools between preschools to high schools with a total student population of 54,511. The MAPS students in West Jordan perform slightly above the state averages with proficiency in English 2% above the state average, Math 2% above the state average, and Science 3% above the state average.
MARKET DATA MARKET DATA ARTS, RECREATION, & ENTERTAINMENT West Jordan is a great place to live, work, and play. It is centrally located in the Salt Lake City Metro area and 9.46 miles southwest of Downtown Salt Lake. West Jordan is a 30-45 minute drive from 6 world class ski resorts (Deer Valley, Park City, Brighton, Solitude, LEGAL DISCLAIMER Snowbird, Alta), an hour East to the Uinta National Forest where there are a multitude of camping and hiking locations, and 3-4 hours north of 5 National Parks (Arches, Capitol Reef, Zion, Bryce, Canyon Lands).
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PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY MARKET DATA NEIGHBORHOOD DEMOGRAPHICS PROPERTY DESCRIPTION The city of West Jordan has a population of 118,855 people with a median age of 29.8 and a median household income of $78,799. In 2010, the Census count in the area was 103,611. Since 2010, the popluation has grown at a rate of 1.49%, year over year. The five- year projection for the population in the area is 126,938, representing a change of 1.32% annually from 2019 to 2024. Currently, the AERIALS population is 50.4% male and 49.6% female.
The population of West Jordan, UT is 79.0% White, 1.2% Black, and 19.9% Hispanic. PLANS & PHOTOS The median property value in West Jordan, UT is $318,266, and the home ownership rate is 72.9%.
DEMOGRAPHICS ECONOMIC SUMMARY
MAPS MAJOR EMPLOYERS BY RANK INDUSTRY EMPLOYEES 1 Jordan School District Education 3,145 2 Smiths Food 730 MARKETMARKET DATADATA 3 Jordan Valley Medical Center Hospital 690 4 Mountain America Credit Union Banking 600 5 Union City of West Jordan City Offices 553 6 Walmart Retail 581 LEGAL DISCLAIMER 7 Sysco Intermountain Food Services 438 8 SME Industries Steel 375 9 National Benefit Services BenefitAdministration 298 FILES FOR DOWNLOAD 10 Dannon Company Food 250
NOTEABLE BUSINESSES / BUSINESS ACTIVITY IN THE WEST JORDAN AREA CONTACTS • Boeing completed the expansion of its West Jordan facility in September 2015. Boeing’s expanded an 850,000 SF building from a vacant warehouse to a composite fabrication production center with 100 employees where they manufacture the horizontal stabilizer for the 787-9 Dreamliner. PURCHASING GUIDELINES • Oracle has a global information technology facility in West Jordan. • West Jordan is the site for SME Steel’s headquarters. Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY LEGAL DISCLAIMER Landmark Property & Development, LLC, has been retained as The Confidential Offering Memorandum does not constitute a representation PROPERTY DESCRIPTION exclusive advisor and broker to Target Corporation (“Owner”), that there has been no change in the business or affairs of the Property regarding the sale of a 121,956 square foot building being referred to or Owner since the date of preparation of the Confidential Offering as Target (T-768) in West Jordan, Utah (“Property”). Memorandum. Analysis and verification of the information contained in AERIALS the Confidential Offering Memorandum is solely the responsibility of the This Confidential Offering Memorandum has been prepared by prospective purchaser. Additional information and an opportunity to inspect Landmark Property & Development, LLC for use by a limited number the Property will be made available upon request to interested and qualified PLANS & PHOTOS of parties and does not purport to provide a necessarily accurate prospective investors. summary of the Property or any of the documents related thereto, nor DEMOGRAPHICS does it purport to be all-inclusive or to contain all of the information Owner expressly reserves the right, at its sole discretion, to reject any or which prospective investors may need or desire. All projections have all expressions of interest or offers regarding the Property and/or terminate been developed by Landmark Property & Development, LLC, Owner discussions with any entity at any time with or without notice. Owner shall have MAPS and designated sources and are based upon assumptions relating no legal commitment or obligation to any entity reviewing the Confidential to the general economy, competition and other factors beyond the Offering Memorandum or making an offer to purchase the Property unless control of Landmark Property & Development, LLC and Owner, and until such offer is approved by Owner, a written agreement for the MARKET DATA and therefore are subject to variation. No representation is made purchase of the Property has been fully executed, delivered and approved by Landmark Property & Development, LLC or Owner as to the by Owner and its legal counsel, and any conditions to Owner’s obligations accuracy or completeness of the information contained herein, and there under have been satisfied or waived. LEGALLEGAL DISCLAIMERDISCLAIMER nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of the Property. Although This Confidential Offering Memorandum and the contents, except such the information contained herein is believed to be correct, Landmark information which is a matter of public record or is provided in sources FILES FOR DOWNLOAD Property & Development, LLC, Owner and their employees, disclaim available to the public, are of a confidential nature. By accepting the any responsibility for inaccuracies and expect prospective purchasers Confidential Offering Memorandum, you agree that you will not use the to exercise independent due diligence in verifying all such information. Confidential Offering Memorandum or any of the contents in any fashion CONTACTS Further, Landmark Property & Development, LLC, Owner, and their or manner detrimental to the interest of Owner or Landmark Property & employees disclaim any and all liability for representations and Development, LLC. warranties, expressed and implied, contained in, or for omissions PURCHASING GUIDELINES from, the Confidential Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY FILES FOR DOWNLOAD
PROPERTY DESCRIPTION Documents will open in a new window and may take a few You may also request a hard copy & disc of plans from: minutes to download. AERIALS Joren Peterson at [email protected] and Hayden Peterson If you are not prompted to Save or Open, click refresh on your at [email protected]. browser’s window. PLANS & PHOTOS
DEMOGRAPHICS
BROKER REGISTRATION DOWNLOAD DOWNLOAD ALTA SURVEY MAPS CERTIFICATE
COMMON AREA MAINTENANCE DOWNLOAD SITE PLAN MARKET DATA DOWNLOAD AGREEMENT
DECLARATION OF RESTRICTIONS DOWNLOAD PLAT LEGAL DISCLAIMER DOWNLOAD AND EASEMENTS
DOWNLOAD FLOOR PLAN FILESFILES FORFOR DOWNLOADDOWNLOAD 1ST, 2ND & 3RD AMENDMENTS TO DOWNLOAD DECLARATION OF RESTRICTIONS AND EASEMENTS DOWNLOAD DEMOGRAPHIC REPORT CONTACTS DECLARATIONS OF EASEMENTS, DOWNLOAD COVENANTS, CONDITIONS AND DOWNLOAD ZONING PURCHASING GUIDELINES RESTRICTIONS Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY FOR MORE INFORMATION, PLEASE CONTACT:
PROPERTY DESCRIPTION BROKER CONTACTS CITY CONTACT NUMBERS
AERIALS JOREN PETERSON HAYDEN PETERSON PLANNING AND ZONING OFFICE 801.569.5060 435.659.6979 435.659.8747 FIRE ADMINISTRATION PLANS & PHOTOS [email protected] [email protected] 801.260.7300 POLICE DEPARTMENT (NON-EMERGENCY) Landmark Property & Landmark Property & 801.840.4000 DEMOGRAPHICS Development Development BUILDING INSPECTION AND PERMITS P.O. Box 980580 P.O. Box 980580 801.569.5050 Park City, UT 84098 Park City, UT 84098
MAPS APPROVING PARTY TO THE DECLARATION MARKET DATA OF RESTRICTIONS AND EASEMENTS
WRI/West Jordan, LLC Albertsons, Inc. LEGAL DISCLAIMER Weingarten Realty Investors 250 Parkcenter Blvd 2600 Citadel Plaza Drive P.O. Box 20 Houston, TX 77008 Boise, ID 83726 FILES FOR DOWNLOAD Attn: President Attn: Legal Dept.
Lou Brock Phone: 303.801.3702 CONTACTSCONTACTS
PURCHASING GUIDELINES Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY PURCHASING GUIDELINES OFFERING TERMS DOCUMENTATION PROPERTY DESCRIPTION The asking price is $5,500,000. Target will prepare the Option Agreement and related documents.
INITIAL DUE DILIGENCE TITLE REPORT To be provided by Target, upon execution of the Option AERIALS PLEASE DO NOT DISTURB STORE EMPLOYEES OR CUSTOMERS. The opportunity to investigate and tour the Property will Agreement. be made available upon request to interested and qualified EXCLUSIVE BROKER PLANS & PHOTOS buyers. Buyers and their representatives MAY NOT tour the interior of the building on their own. Once arranged in Landmark Property & Development, LLC, hereinafter referred accordance with these guidelines, property tours will be scheduled, to as “Seller’s Broker,” pursuant to a separate listing agreement coordinated and conducted by representatives of Landmark with Target Corporation. All brokers and prospective purchasers DEMOGRAPHICS Property & Development, LLC. Each prospective Buyer is to rely must sign and return the Broker Registration Certificate contained solely upon its own investigation, evaluation and judgment as to in the “Files for Download” section herein. the conditions attributes and value of the property. MAPS PROPERTY CONTACTS INSPECTION PERIOD EXPIRATION DATE A list of informational contacts is included in the “Contacts” Recommend sixty (60) days or less due diligence period. section of this presentation. MARKET DATA CLOSE OF ESCROW OFFER FORMAT Recommend thirty (30) days or less from expiration of due diligence. Please note that all final LOI’s will be put on Target form. It is highly recommended that all offers be made in the form of LEGAL DISCLAIMER PERSONAL PROPERTY, TRADE FIXTURES AND SYSTEMS a Letter of Intent (LOI) and should include, at a minimum, the On or before the Closing Date, Seller shall have the right (but not following information. the obligation) to remove from the Property: (i) any or all of Seller’s • A full outline of the terms offered. FILES FOR DOWNLOAD inventory, trade fixtures and other removable personal property • Purchase price upon close of escrow. (including but not limited to point of sale equipment), (ii) Seller’s • Contingencies (detailed) and length of due diligence period. compactor, bailer and generator, and (iii) Seller’s security, energy • Source of Buyer’s financing. CONTACTS management and phone systems. • Amount of initial deposit monies (not less than $100,000) to be deposited and held with a designated Title Company in CONDITION OF SALE an interest bearing account. PURCHASINGPURCHASING GUIDELINESGUIDELINES The property is being offered in its “as is” condition.
Purchaser shall confirm by Purchaser’s own due diligence the condition and suitability of the property, without any reliance upon information provided herein. Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY PURCHASING GUIDELINES, CONT. • Upon completion of the due diligence period, an additional REVIEW OF OFFER(S) PROPERTY DESCRIPTION non-refundable deposit of $100,000 to be deposited and held by the designated Title Company in an interest bearing Right to Reject account. In no event shall the due diligence period go beyond Landmark Property & Development, LLC and Target will review AERIALS sixty (60) days. all offers. Acceptability of offers will be based on purchase price, Buyer’s financials, Buyer’s business resume and reputation, • Close of escrow to be no sooner and no later than thirty (30) ability and willingness of the Buyer to close the sale, length of days after completion of due diligence, unless extended by PLANS & PHOTOS time to close and other pertinent factors of concern to Target. Target as described elsewhere herein. Landmark Property & Development, LLC and Target expressly • A detailed description of the proposed use of the site, including reserve the right, in their sole discretion, to review and/or reject the nature of the planned operator(s). In this regard, Target any or all expressions of interest or offers to purchase the DEMOGRAPHICS intends to confirm anchor tenant(s) interest in this location. Property, and/or to terminate discussions with any person or • A Buyer’s corporate resume including a list of recent purchases entity at any time with or without notice. Target shall have no of similar properties with at least five related references. legal commitment or obligations to any person or entity reviewing MAPS • A contact name and means of contact for Buyer’s firm (including the Offering Memorandum or making an offer to purchase the e-mail address). Property unless and until such offer is approved by Target, an Option Agreement for the purchase of the Property has been • Identification of Buyer’s broker, if any, together with a statement MARKET DATA fully executed, delivered and approved by Target and its legal that no other brokers are involved whom can rightfully claim to counsel, and any conditions to Target’s obligations thereunder represent the Buyer. Buyer understands that Target will rely have been satisfied or waived. LEGAL DISCLAIMER on this information. See the Broker Registration Certificate included herein which must be completed and submitted with Confidentiality, Conditions and Disclaimer each bid. This Offering Memorandum has been prepared by Landmark FILES FOR DOWNLOAD Property & Development, LLC for use by a limited number of parties, and does not purport to provide a necessarily accurate summary of the subject Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of CONTACTS the information which prospective buyers may need or desire. No representation is made by Landmark Property & Development, LLC or Target as to the accuracy or completeness of the PURCHASINGPURCHASING GUIDELINESGUIDELINES information contained herein, nor in subsequently provided Big Box Redevelopment Opportunity ASKING PRICE +/-121,956 SF Retail Building on 10.24 Acres $5,500,000 West Jordan Town Center | 6748 South Redwood Road West Jordan, Utah 84084
PROPERTY SUMMARY PURCHASING GUIDELINES, CONT. materials, and nothing contained herein is or shall be relied on PROPERTY DESCRIPTION as a promise or representation as to the condition of or future performance of the Property. Although the information contained herein is believed to be correct, Landmark Property & Development, AERIALS LLC as well as Target and its employees disclaim any responsibility for inaccuracies, and expect prospective buyers to exercise independent due diligence in verifying all such information. Further, PLANS & PHOTOS Landmark Property & Development, LLC, Target and its employees disclaim any and all liability for representations and warranties, expressed and/or implied, contained in or for omission from the Offering Memorandum or any other written or oral communication DEMOGRAPHICS transmitted or made available to the recipient. The Offering Memorandum does not constitute a representation that there have been no changes of any nature involving the Property since MAPS the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the prospective Buyer. MARKET DATA
Joren Peterson LEGAL DISCLAIMER Landmark Property & Development, LLC P.O. Box 980580 Park City, UT 84098 435.659.6979 FILES FOR DOWNLOAD [email protected]
Hayden Peterson CONTACTS Landmark Property & Development, LLC P.O. Box 980580 Park City, UT 84098 PURCHASINGPURCHASING GUIDELINESGUIDELINES 435.659.8747 [email protected]