Green Bay Press Gazette Building (Gannett Nyse Gci) 435 E
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GREEN BAY PRESS GAZETTE BUILDING (GANNETT NYSE GCI) 435 E. Walnut St. Green Bay, Wisconsin 54301 $4,733,000 | Cap: 9.65% | NOI: 456,735 | Rent: $4.88 PSF | NNN (below market) • Iconic building in great location with a low rent and a passive ownership opportunity • Critical use facility operating 24 hours a day, 7 days a week, 365 days per year • Gannett is the largest US newspaper publisher by circulation (NYSE: GCI) • 160 Employees at the property and growing • Newsroom, Advertising, and Classifieds occupy officespace • Circulation space used for sorting and distribution of Gannett's regional and national newspapers • Green Bay Press Gazette Building is adjacent to City Hall, Brown County Court House, and State of Wisconsin Office Building • Landlord has renovated HVAC System, Roof, Electrical, Office Spaces, and Parking Lots Phone: 212.686.0072 • Additional parking income from Brown County Mobile: 917.741.1525 • Green Bay Press Gazette (www.greenbaypressgazette.com) has solely occupied the building for 96 years [email protected] • Green Bay Press Gazette is a wholly owned subsidiary of Gannett (www.Gannett.com) www.hmx1031.com • Green Bay has exceptional labor force and quality of life • Close proximity to GSA Building to be used for the 2020 US Census (also for sale separately) This information has been obtained from sources deemed reliable; however, HMX Realty Advisors does not guarantee, warranty, or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. Green Bay Press Gazette – Green Bay, WI Investment Overview PROPERTY OVERVIEW: INVESTMENT SUMMARY HMX Realty Advisors exclusively presents for sale the Green Bay Press Gazette building. Tenant reimburses all operating expense and seller will retain property management, at buyer’s option, for the management fee paid by Price: $4,733,000 tenant. Gannett currently has 161 employees at the property and is in the process of adding more for its dynamic digital and print regional classified advertisement division. Rent Per SF: $4.88 Gannett reaches millions of people every week through a vast portfolio of digital and print products across their Cap Rate: 9.65% extensive family of brands. In addition, ReachLocal is an outstanding digital marketing company focused on helping small and medium-sized businesses grow. Furthermore, according to USA Today, Gannett has 105 NOI: 456,735.17 Publications in the United States as well as many others in the United Kingdom. Building Square Feet: The property is located next to The City Hall of Green Bay. It is within a block or two of Brown County Office 86,400 sf gross Building, Brown County Courthouse, State of Wisconsin District Office Building and a United States Post Office. The Landlord leases out additional parking spaces to the Brown County employees on a month-to-month basis. The Office Space: 42,219sf Landlord has renovated the subject parking lots in 2018. The property is near 533 East Walnut, which is also for sale ($1,570,165 9.5% Cap). Circulation Space: 40,939sf In the interior of the Green Bay Press Gazette Building, the office space was renovated with new carpet and paint Common Area: 3,241. sf as well as an improved technology infrastructure. Office Spaces have been upgraded with LED lighting. Total: 86,400.00sf On the exterior, the Landlord has improved the roof structure with a Centimark roof renovation, tuckpointing the Clear Height: Up to 28 Feet building masonry, and painting of the building. A new 5-year roof warranty from Centimark is in place. Lease Type: Tenant reimburses LINK TO DRONE VIDEO all operating expense and seller will retain property management LEASE SUMMARY: Press-Gazette Media Advertising at buyer’s option for the Rent Commencement: May 1st, 2017 management fee paid by tenant. Lease Expiration Date: April 30, 2024 Current Reimbursable Triple Net Rent before 4% Management Fee: 415,204 ($4.88 psf NNN a below market rent) Properties included in the sale: and Seller will retain all property management for the 4% management fee being paid by the tenant at buyer’s 435 E. Walnut: 1.21 Acres option. 512 Cherry St: .788 Acres Options: Two 3-year options with a 15% rent increase in each option 503 E. Walnut: .1281 Acres Lease Type: 100% Reimbursable triple net 212-214 S. Madison: .4337 Acres This information has been obtained from sources deemed reliable; however, HMX Realty Advisors does not guarantee, warranty, or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. INVESTMENTOVERVIEW Green Bay Press Gazette – Green Bay, WI Newly Renovated Classifieds Office Space This information has been obtained from sources deemed reliable; however, HMX Realty Advisors does not guarantee, warranty, or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. PROPERTY PHOTOS Green Bay Press Gazette – Green Bay, WI Tenant Tenant is Green Bay Press Gazette, a division of Gannett Satellite Information Network, LLC a wholly owned subsidiary of Gannett (NYSE: GCI) https://www.gannett.com/ Gannett Co., Inc. is an innovative, digitally focused media and marketing solutions company with an unmatched reach at the national and local levels. Gannett touches millions of lives with our Pulitzer-Prize winning content, consumer experiences and benefits, and advertiser products and services. We are committed to the communities in our network and to helping them build relationships with their local businesses. Our portfolio includes USA TODAY, local media organizations in 46 states in the U.S. and Guam, and Newsquest, a wholly owned subsidiary with over 140 local media brands operating in the United Kingdom. Gannett also owns the digital marketing service companies ReachLocal, Inc., UpCurve, Inc., and WordStream, Inc. and runs the largest media-owned events business in the U.S., Gannett Ventures, formerly known as GateHouse Live. Our powerful network of brands and capabilities position us well to ensure and preserve the future of local journalism. We continue to transform our business model to create a more agile and dynamic organization for sustaining local journalism, employees, and shareholders. Gannett is externally managed and advised by an affiliate of Fortress Investment Group LLC, a global investment management firm. This management agreement will terminate at the end of 2021, as a condition of the Gannett merger. Effective November 20, 2019, following the completion of its merger with Gannett, New Media Investment Group, Inc. traded on the New York Stock Exchange under Gannett Co., Inc. and its ticker symbol has changed to “GCI”. With deep roots in cities and towns across the U.S. and the U.K., our company brings a long-standing history of investing in journalism. Our mission is to make communities stronger. We inform and engage them — as an award-winning, trusted news organization, and as a modern media company pushing the boundaries of what content is, how it’s experienced, and how it’s used. In addition, we share a commitment to supporting local commerce, enabling businesses to connect with customers and to thrive. We will continue to connect people to content that matters, and businesses to the customers that they want to reach. This information has been obtained from sources deemed reliable; however, HMX Realty Advisors does not guarantee, warranty, or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. TENANT Green Bay Press Gazette – Green Bay, WI Land Included in the Sale Brown County Offices Green Bay City Hall Superior Resource Group Inc WBAY Action 2 Brown County Courthouse News Station Brown County Offices United States Post Office St. Francis Xavier Catholic Cathedral Note all lot lines are approximate. See surveys for details This information has been obtained from sources deemed reliable; however, HMX Realty Advisors does not guarantee, warranty, or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. LAND INCLUDED INSALE Green Bay Press Gazette – Green Bay, WI Tenant Gannett Company, Inc. operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. Gannett offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 170 news brands and 80 magazines in the United Kingdom. Gannett Co., Inc. operations comprise 130 daily publications and digital platforms in the United States and the United Kingdom; 435 non-daily publications in the United States; and 159 of such titles are also in the United Kingdom. It also provides commercial printing, distribution, marketing, and data services; and owns Exchange & Mart businesses, and a specialist magazine business. In addition, the company offers digital marketing solutions comprising ReachSearch, ReachDisplay, ReachSocial Ads, and ReachRetargeting digital advertising solutions; ReachSite+ReachEdge, ReachSEO, ReachCast, ReachListings, and TotalLiveChat Web presence solutions; and ReachEdge, a marketing automation platform, as well as Kickserv, a cloud-based business management software for service businesses.