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Offering Memorandum Atlanta Chicago New York Houston Offering Memorandum Los Angeles Phoenix San Francisco Citibank Condo Tulsa 15 Broad Street | Stamford, CT 06901 Confidential Disclaimer This Confidential Memorandum has been prepared by Stan Johnson Company (“SJC”) and is being furnished to you solely for the purpose of your review of the commercial property located at 15 Broad Street, Stamford, CT 06901 (the “Property”). The material contained in this Offering Memorandum shall be used for the purposes of evaluating the Property for acquisition and shall not be used for any purpose or made available to any other person without the express written consent of Stan Johnson Company (“Broker”). By accepting the Confidential Memorandum, you acknowledge and agree that: (1) all of the information contained herein and any other information you will be receiving in connection with this transaction, whether oral, written or in any other form (collectively, the “Materials”), is confidential; (2) you will not reproduce the Confidential Memorandum in whole or in part; (3) if you do not wish to pursue this matter, you will return this Confidential Memorandum to SJC as soon as practicable together with all other materials relating to the Property which you may have received from SJC; and (4) any proposed actions by you which are inconsistent in any manner with the foregoing agreements will require the prior written consent of SJC. This Confidential Memorandum has been prepared by SJC, based upon certain information pertaining to the Property and any information obtained from SJC to assist interested parties in making their own evaluation of the Property is offered on a no representation or warranty provision other than customary warranties of title and is sold on an “as-is, where-is” basis and with all faults. The material and transaction does not purport to be all inclusive. This Confidential Memorandum contains descriptive materials, financial information and other data compiled for the convenience of parties interested in the Property. The Materials are being delivered by SJC to prospective investors with the understanding that it is not all inclusive and that it is qualified in its entirety by independent investigation by prospective investors of those matters which they deem appropriate in evaluating this offering without reliance upon SJC, the Broker or any of their respective affiliates or any of the information set out in the Materials. Neither SJC, the Broker, nor any of their respective affiliates have independently verified any of the information contained herein or in any of the Materials, and no representations or warranties as to the accuracy or completeness thereof or of any other kind whatsoever are made or intended and none should be inferred. Offered Exclusively By SJC, for itself and its affiliates of the Property, expressly disclaim any and all liability for statements or representations, express or implied, contained herein or for omissions from the Materials or for any other written, oral or other format Adam Jennings | Associate of communication transmitted to a prospective investor in the course of its evaluation of the proposed transaction. All [email protected] summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial statements, which upon request may be made available. The terms and Jason Long | Associate Director conditions described herein are subject to change without notice. [email protected] In Association With This Confidential Memorandum does not constitute an offer to accept any investment proposal but is merely a solicitation Joseph P. Odom CT Lic#:REB.0790686 of interest with respect to the investment described herein. The Confidential Memorandum does not constitute an offer of security. The investment described herein may be financed or withdrawn from the market, without prior notice. By accepting Atlanta Office this Confidential Memorandum you agree to release SJC and hold it harmless from any kind of claim, expense, or liability 3340 Peachtree Rd NE | Suite 650 arising out of your discovery or purchase of the Property. SJC reserves the right to request the return of the Materials at any Atlanta, GA 30326 time. Ownership of the Property reserves the right to negotiate with one or more prospective investors at any time. P: 404.823.6360 Page 2 Citibank | Stamford, CT Price: $4,131,000 Cap: 5.50% Investment Summary Stan Johnson Company is pleased to offer for sale to qualified investors a 4,545 square-foot retail condo leased to Citibank (S&P A credit rating). The property is located in the highly affluent and densely populated downtown Stamford, Connecticut. The property is one mile north of Stamford’s Harbor Point mixed-use community. Harbor Point features over 2,300 Class A apartments, exciting retail offerings, and over 1.5 million square feet of office space. The completed community will include 4,100 residential units, 2.3 million square feet of office, 250,000 SF of retail, four full service marinas and more than 13 acres of parks and open space. Investment Highlights Extremely High Deposits – Deposits at this location are over $685 million. Strong Investment Grade Corporate Credit – Citibank (NYSE:C) has an S&P credit rating of A/Stable, with over $904 billion in deposits across 3,280 branches in Q4 2015. Major Employment Hub – Stamford is home to an impressive and diverse set of employers including Charter Communications (global headquarters), Design Within Reach (headquarters), GE Capital Aviation Services, GE Energy Financial Services, Kayak (headquarters), Navigator’s Group, and NBC Sports among others. Impressive Demographics – The highly affluent and dense population of Stamford features average household income of over $132,000 and over 162,000 people within a five-mile radius of the subject property. Incredible Accessibility – Citibank is less than one mile from I-95 (+/-139,000 VPD) and the Stamford train station, offering quick commuting time to New York City and Manhattan with an average drive time of 45 minutes. Proximity to Harbor Point – The Property is just one mile north of Stamford’s Harbor Point mixed-use community. Harbor Point features over 2,300 Class A apartments, exciting retail offerings, and over 1.5M SF of office space. The full development plans for the “Live, Work, Play” community include over 4,100 residential units, 2.3M SF of office, 250,000 SF of retail, four full- service marinas and more than 13 acres of parks and open space. Harbor Point is LEED ND Gold certified. Subject Property Page 3 Citibank | Stamford, CT Lease Abstract Property Address 15 Broad Street, Stamford, CT 06901 Property Type Retail Tenant Citibank Guarantor Citibank Building Size +/- 4,545 SF Land Size +/- 1.68 Acres Year Constructed 2004 Annual Rent $227,250 Subject Property Remaining Term Five (5) years Term Commencement March 7, 2006 Term Expiration March 31, 2021 Options Two (2), Five (5) year options Lease Type NNN Rent Schedule Lease Years Annual Rent Rent/SF Years 1 - 5 $181,800 $40.00 Years 6 - 10 $204,525 $45.00 Years 11 - 15 $227,250 $50.00 Option 1 $249,975 $55.00 Option 2 $272,700 $60.00 Deposit Market Share Report Market Institution Address Deposits ($000) Share Citibank 15 Broad St Stamford, CT $301,589 20.78% N JPMorgan Chase Bank 45 Prospect St Stamford CT $267,904 17.02% Patriot National Bank 900 Bedford St Stamford, CT $142,628 9.83% Peoples United Bank 350 Bedford St Stamford, CT $135,397 9.32% Bank of America One Atlantic St, Stamford, CT $122,790 8.45% Page 4 Citibank | Stamford, CT Tenant Overview Citibank is the consumer division of financial services approximately 16,000 offices worldwide and holds over multinational Citigroup. Citibank was founded in 1812 as 200 million customer accounts. As of June 2012, the year the City Bank of New York, later First National City Bank of of Citi’s 200th anniversary, Citigroup had built up an New York. The United States is the largest single market enormous cash reserve in the wake of the financial crisis with approximately 26% of branches, generating 51% with $420 billion in surplus liquid cash and government of revenues. Citibank’s 983 North American branches securities. are concentrated in major metropolitan areas including New York City, Chicago, Los Angeles, San Francisco, As of FY2014 Citigroup Inc. had total revenues of $71.0B, Washington, D.C., Miami, Boston, Houston, and Dallas. net income of $7.31B, and net worth of $210.5B. The Latin America markets make up 25% of revenues, Asia company currently has an S&P rating of A/Stable. 20%, and Europe / Middle East / Africa 4%. In the fastest- growing cities around the world, Citibank serves a full range of consumer banking needs, including checking and savings accounts, loans, wealth management advice and small business services. In addition to standard banking transactions, Citibank markets insurance, credit cards, and investment Representative Photo products. Their online services division is among the most successful in the field, claiming about 15 million users. Citigroup Inc. or Citi is an American multinational banking and financial services corporation headquartered in Manhattan, New York City. Citigroup was formed from one of the world’s largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group in October 1998 (announced on April 7, 1998). As of January 2015, it is the third largest bank holding company in the US by assets. Its largest shareholders include funds from the Middle East and Singapore. At its height until the global financial crisis of 2008 Citigroup was the largest company and bank in the world by total assets with 357,000 employees. In 2007, Citigroup was one of the primary dealers in US Treasury securities.
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