Big 5 Sporting Goods HERMISTON, OREGON Overview
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Big 5 Sporting Goods HERMISTON, OREGON Overview Big 5 Sporting Goods 1968 N 1ST STREET, HERMISTON, OR 97838 PROPERTY CAN BE PURCHASED SEPARATELY OR TOGETHER WITH ADJACENT SINGLE-TENANT PETSENSE. PAGE 3 Investment Summary LEASEABLE SF LAND AREA LEASE TYPE 10,000 SF 33,977 SF NNN LEASE EXPIRATION YEAR BUILT PRICE PER SF 01/31/2029 2008 $204 $2,040,000 7.00% PRICE CAP THE OFFERING provides an opportunity to purchase a freestanding NNN Big 5 Sporting Goods location with more than 10 years remaining. The publicly-traded Big 5 Sporting Goods (NASDAQ:BGFV) recently executed two, five-year options early, demonstrating their strong commitment to Hermiston. Overview Investment Highlights BIG 5 MADE A STRONG COMMITMENT TO THE LOCATION WHEN THEY RECENTLY EXECUTED TWO, FIVE-YEAR OPTIONS. THE HIGH QUALITY ASSET WAS BUILT-TO-SUIT FOR THE PUBLICLY- TRADED BIG 5 IN 2008 AND HAS 10 YEARS REMAINING ON THE LEASE. NNN LEASE TERMS PROVIDE MINIMAL MANAGEMENT RESPONSIBILITY. LOCATED ALONG MAIN COMMERCIAL CORRIDOR IN HERMISTON IN CLOSE PROXIMITY TO WALMART SUPERCENTER AND HOME DEPOT. WITH EXCELLENT ACCESS AND VISIBILITY TO THE MAIN NORTH- SOUTH THOROUGHFARE, BIG 5 BENEFITS FROM THE NEARLY 20,000 VEHICLES PER DAY ALONG NORTH 1ST STREET. PROPERTY IS OFFERED SEPARATELY AND TOGETHER WITH ADJACENT FREESTANDING PETSENSE STORE, RECENTLY CONSTRUCTED IN 2016. PAGE 5 About the Tenant BIG 5 SPORTING GOODS Big 5 Sporting Goods is one of America’s top retailers of name brand sporting goods and accessories. The company’s product mix includes a broad selection of athletic equipment and outdoor recreational sporting goods as well as athletic shoes and apparel. BGFV 1955 NASDAQ YEAR FOUNDED 435 9,500 LOCATIONS ACROSS TOTAL EMPLOYEES 11 WESTERN STATES Investment Highlights Surrounding Retail Business summary TOTAL 1-MILE 3-MILES 5-MILES Businesses 257 830 1,012 Employees 2,570 9,298 11,749 Population 4,651 23,258 33,536 KEY 1-MILE 3-MILES 5-MILES MAJOR RETAIL ACE Hardware GameStop Rite Aid AutoZone Goodwill Rue 21 Big Lots Harbor Freight Safeway Bi-Mart Home Depot Shari’s Burger King Jack in the Box Starbucks Dairy Queen McDonald’s Subway Dollar Tree Napa Auto Taco Bell Fiesta Foods O’Reilly Auto Parts Walmart Supercenter Pizza Hut BIG 5 PAGE 7 SPORTING GOODS 19,700 VPD COUNTY RD 1275 S FIRST ST S FIRST 209 HERMISTON HWY GOOD SHEPHERD HEALTH CARE ROCKY HEIGHTS ELEMENTARY SUNSET SCHOOL ELEMENTARY SCHOOL WEST PARK ELEMENTARY 395 SCHOOL HERMISTON HIGH SCHOOL Surrounding Retail MARKETING - DO NOT FORGET TO UPDATE THE STATS 7 BACKGROUND PHOTO ON THIS PAGE Site Plan 19,700 VPD 10,000 LEASEABLE SF SOUTH 1ST ST SOUTH 1ST 0.78 ACRES E THEATER LANE 42 SPACES; 4.2/1,000 SF PAGE 9 NEIGHBORING PROPERTY ALSO AVAILABLE CLICK HERE SITE PLAN NOT TO SCALE Site Plan Income & Expense Financial Summary PRICE $2,040,000 CAPITALIZATION RATE 7.00% PRICE PER FOOT $204 CASH FLOW SUMMARY SCHEDULED INCOME PER SF Base Rent for the Period of: 2/1/2019 - 1/31/2020 $14.25 $142,464 Total Effective Gross Income (EGI) $14.25 $142,464 OPERATING EXPENSES Per SF CAMS NNN Property Taxes NNN Insurance NNN Total Operating Expenses NNN - NET OPERATING INCOME $142,464 10/23/2018 [ <www.CapitalPacific.com> ] This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. PAGE 11 Rent Rent Roll roll BIG 5 - HERMISTON Lease Term: 2/4/2008 - 1/31/2029 Size (SF): 10,000 RENT SUMMARY MONTHLY ANNUAL DATE % INCREASE PSF BASE RENT RENT 2/1/2019 $11,872 $142,464 $14.25 2/1/2024 $13,059 10% $156,710 $15.67 OPTIONS 2, 5-YR 6-Months' Notice 3 2/1/2029 $15,801 21% $189,612 $18.96 4 2/1/2034 $17,381 10% $208,573 $20.86 CURRENT $11,872 $142,464 $14.25 Lease Notes Comments: Tenant operates on a NNN lease with Landlord responsible to repair and replace the roof and structrual elements of the building. Tenant recently exercised first two of four option periods. 10/23/2018 [ <www.CapitalPacific.com> ] Financial Summary Featured Photography PAGE 13 Featured Photography Location Hermiston, Oregon HERMISTON, OREGON is the largest city by population in Eastern Oregon. The fast growing city is the retail hub for several surrounding counties and is the daily needs provider for an expansive trade area. PAGE 15 LAMB WESTON FACTORY Lamb Weston LAMB WESTON, A MAJOR POTATO SUPPLIER BASED OUT OF IDAHO announced in December 2017 it would be expanding its french fry processing plant in Hermiston. The company, who already employs more than 1,300 in Hermiston, will be investing $250 million into a new state-of-the-art processing line with the potential to add another 170 full-time jobs. CLICK HERE FOR MORE INFO Location Demographics KEY 5 MINS 10 MINS 15 MINS Distance Tri-Cities, Boise, to Wahsington Idaho 34 MILES 251 MILES 38 MINS 3 HRS 53 MINS PAGE 17 Drive time POPULATION 5 MINS 10 MINS 15 MINS 2010 8,425 26,699 32,649 2018 8,769 27,881 34,073 2023 8,920 28,402 34,714 2018 HH INCOME 5 MINS 10 MINS 15 MINS Average $54,580 $59,378 $60,882 Median $41,065 $48,557 $50,102 76,985 UMATILLA COUNTY POPULATION (ESTIMATED) Demographics Contact Us We’d love to hear from you. KEVIN ADATTO MICHAEL HORWITZ [email protected] [email protected] PH: 503.675.7726 PH: 503.675.8381 SCOTT FRANK SEAN MACK [email protected] [email protected] PH: 503.675.8383 PH: 503.675.8378 PETER DUNN DAVID GELLNER [email protected] [email protected] PH: 503.607.0197 PH: 206.693.3349 The information in this Executive Summary has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. All rights reserved to Capital Pacific, LLC. Contact Us SEA. PDX. SFO. CAPITALPACIFIC.COM Copyright © 2018 Capital Pacific LLC.