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Parkside Portfolio Four Properties | Parkside Ave | Urban Retail | Mixed Use

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Parkside Portfolio Four Properties | Parkside Ave | Urban Retail | Mixed Use PARKSIDE PORTFOLIO FOUR PROPERTIES | PARKSIDE AVE | URBAN RETAIL | MIXED USE PARKSIDE LOFTS VALUE ADD CMX3 BUILDING Parkside Portfolio TABLE OF CONTENTS Section 1: Portfolio Summary Section 4: Parkside Lofts Portfolio Overview.....................................................4 Property Overview....................................................16 Site Plan....................................................................5 Rent Roll..................................................................17 OFFERED Investment Overview...................................................6 Income & Expenses...................................................18 EXCLUSIVELY BY Section 2: Davita Dialysis & Santander Bank Section 5: Value Add CMX3 Building Property Overview......................................................8 Property Overview....................................................20 Lead Agents: Rent Roll....................................................................9 Section 6: Tenant Descriptions Derrick Dougherty Income & Expenses...................................................10 Tenant Overviews................................................22-25 First Vice President Section 3: Goodwill & Oak Street Health Section 7: Market Overview Philadelphia, PA 215.531.7026 Property Overview...................................................12 Regional & Aerial Map.......................................27-28 [email protected] Rent Roll..................................................................13 Demographics..........................................................29 License: PA RS305854 Income & Expenses...................................................14 Location Overview...............................................30-33 Scott Woodard National Retail Group NON-ENDORSEMENT Philadelphia, PA AND DISCLAIMER NOTICE 215.531.7058 [email protected] NON-ENDORSEMENTS PA RS329242 Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included Mark Krantz for the purpose of providing tenant lessee information about this listing to prospective customers. National Retail Group Philadelphia, PA ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. PA RS336064 | NJ 1537786 DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only Steven Garthwaite a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. National Retail Group Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the Philadelphia, PA subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the PA RS332182 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 prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; Our Locations: however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted Philadelphia, PA King Of Prussia, PA any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the 2005 Market Street #1510 200 N. Warner Road information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a Philadelphia, PA 19103 King Of Prussia, PA 19406 service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. P: 215.531.7000 P: 215.531.7000 New York, NY 260 Madison Avenue Marcus & Millichap Real Estate Investment Services of Seattle, Inc. Broker of Record: Sean Beuche 5th Floor New York, NY 10016 License: RB062197C License: PA RM424190 University of Pennsylvania Center City Philadelphia (1.56M Total Population) Drexel University ParkWest Town Center (305k Square Feet of Retail) PARKSIDE LOFTS VALUE ADD CMX3 BUILDING M Coming Soon PARKSIDE PORTFOLIO FOUR PROPERTIES | PARKSIDE AVE | URBAN RETAIL Portfolio Analysis Parkside Portfolio PORTFOLIO OVERVIEW $18,500,000 97,148sf $190.43 Portfolio PORTFOLIO PRICE GROSS LEASABLE AREA PRICE PER SF BEING OFFERED AS DAVITA DIALYSIS & SANTANDER BANK GOODWILL & OAK STREET HEALTH $5,600,255 $6,340,171 PRICE PRICE 5.50% 7.00% CAP RATE CAP RATE $308,014 $443,812 NOI NOI PARKSIDE LOFTS (OFFICE BUILDING) VALUE ADD 18,982SF CMX3 BUILDING $5,125,047 $1,434,527 PRICE PRICE 8.50% $75.57 CAP RATE PRICE PSF $435,629 QUALIFIED NOI OPPORTUNITY ZONE 4 Parkside Portfolio SITE PLAN 4 Seperate ±3.13 ±174 TAX PARCELS ACRES PARKING SPACES 3 N. 50th St 1 4 2 Parkside Ave Parkside Ave PROPERTY DESCRIPTION NRSF 1 Value Add CMX3 Building Delivered Vacant | Value Add 18,982sf 2 Parkside Lofts Fully Occupied | 12 Tenants 36,720sf 3 Davita Dialysis & Santander Bank New Construction | 2 Tenants 11,870sf 4 Goodwill & Oak Street Health Recent Renovation | 2 Tenants 29,576sf Investment Overview Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the Parkside Portfolio. The portfolio provides potential investors the opportunity to acquire a predominantly stabilized portfolio with a value-add portion located in Philadelphia. The 97,148 square foot portfolio includes a brand new NNN Santander and Davita strip center, recently renovated street front retail property with Oak Street Health and Goodwill, a fully occupied 5 story office building, and a value-add CMX3 building. The new Santander and Davita is a 11,898 square foot building that has over 60 parking spaces and a curb cut entrance on Parkside Avenue. Both tenants are nationally recognized and have over 10 years remaining with rent increases as well as options. The Goodwill and Oak Street Health is a recently renovated 29,576 square foot property with 100 parking spaces. The Parkside Lofts is 36,720 square foot 5 story office building that is fully occupied with 12 tenants. The last portion of the portfolio is a 18,982 square foot CMX3 building that is to be delivered vacant. The property was renovated in 2019 and received a new façade and upgraded interior. Situated in the West Parkside section of Philadelphia, this portfolio is highly visible along Parkside Avenue which see’s over 14,433 vehicles per day. The portfolio also benefits from exceptional demographics in the sub-market with the one and three-mile populations being 32,457 and 395,016 respectively. Geographically, Center City Philadelphia is located only 5 miles away and the Philadelphia International Airport is approximately 12 miles away. It is located adjacent to the 305,000-square-foot Park West Town Center and is nearby to notable retailers such as Lowe’s, Wells Fargo, ShopRite, Planet Fitness, McDonald’s, and more. 4 PROPERTIES LOCATED ALONG PARKSIDE AVENUE Financing Information: OPPORTUNITY TO ACQUIRE 97K+ SQUARE FEET OF RETAIL AND OFFICE IN THE PHILADELPHIA SUB-MARKET FINANCING CONTACT: Stephen Filippo VALUE ADD OPPORTUNITY – DELIVERED VACANT 18,982SF BUILDING THAT HAS BEEN RECENTLY RENOVATED Director - Capital Markets (212) 430-5288 HIGHLY VISIBLE & ACCESSIBLE ALONG PARKSIDE AVENUE [email protected] DENSELY POPULATED AREA WITH 3 MILE POPULATION OF 395,016 | PARKSIDE AVE: 14,433 VPD Please Contact for Loan Information. BRAND NEW DAVITA, SANTANDER, AND OAKSTREET HEALTH WITH ±10 YEAR NNN LEASES SUPERIOR POSITIONING IN AN IMPROVING RETAIL SUBMARKET 6 DAVITA DIALYSIS & SANTANDER BANK TWO TENANT STRIP CENTER | 2019 CONSTRUCTION Property Analysis Davita Dialysis & Santander Bank PROPERTY ANALYSIS 4952-64 Parkside Ave $5,600,255 5.50% $308,014 PHILADELPHIA, PA PRICE CAP RATE NET OPERATING INCOME SQUARE FOOTAGE: 11,898 LOT SIZE: .92 Acres YEAR BUILT: 2019 OCCUPANCY: 100% PARKING: 60 Spaces ZONING: CMX3 TENANTS: 8 Davita Dialysis & Santander Bank RENT ROLL BASE RENT RENT STEPS TENANT NRSF GLA % LSD LXD OPTIONS DATE RECOVERIES ANNUAL RENT/SF DATE ANNUAL RENT/SF 2% Annual May-29 NNN+10% Davita (ISD Renal) 9,548 80.25% May-19 May-29 $238,700.04 $25.00 Annually 2(5yr) Options Increases May-34 Admin Fee 4th Quarter 4th Quarter 4th Quarter 3(5yr) Option 4th Quarter Santander 2,350 19.75% $84,600.00 $36.00 $93,060 $39.60 NNN 2019 2029 2024 1(4yr) Option 2029 Total Leased Space 11,898 100% 2019 Rent $323,300.04 *Estimated start date for Santander is 4th quarter 2019. Tenant will begin fitout
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