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114 Jetplex Circle Madison, Alabama

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114 Jetplex Circle Madison, Alabama CONFIDENTIAL OFFERING MEMORANDUM INDUSTRIAL INVESTMENT $2,200,000 YEAR 1 CAP RATE OF 6.82% 10-YEAR LEASE 114 Jetplex Circle Madison, Alabama Frito Lay Rolling Sales, LP with 10-Year Lease Table of Contents EXECUTIVE SUMMARY 4 INVESTMENT OFFERING & HIGHLIGHTS 5 PROPERTY OVERVIEW 6 Property Description Lease Summary Annual Rent Tenant Information Property Photos Location Maps MARKET OVERVIEW 12 Location Overview Area Attributes Industrial Market Overview Offering Memorandum Disclaimer This Confidential Offering Memorandum (“Memorandum”) is being delivered subject to the terms of the Confidentiality Agreement (the “Confidentiality Agreement”) signed by you and constitutes part of the Confidential Information (as defined in the Confidentiality Agreement). It is being given to you for the sole purpose of evaluating the possible investment in 114 Jetplex Circle, Madison, Alabama (the “Project”), and is not to be used for any other purpose or made available to any other party without the prior written consent of James Johnson(“Owner”), or its exclusive broker, EGS Commercial Real Estate, Inc. (EGS). This Memorandum was prepared by EGS based primarily on information supplied by Owner. It contains select information about the Project and the real estate market but does not contain all the information necessary to evaluate the Project. The financial projections contained herein (or in any other Confidential Information) are for general reference only. They are based on assumptions relating to the overall economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or a legal analysis of such documents. While the information contained in this Memorandum and any other Confidential Information is believed to be reliable, neither EGS nor Owner guarantees its accuracy or completeness. Because of the foregoing and since the investment in the Project is being offered on an “As Is, Where Is” basis, a prospective investor or other party authorized by the prospective investor to use such material solely For more information, please contact: to facilitate the prospective purchaser’s investigation, must make its independent investigations, projections and conclusions regarding the investment in the Project without reliance on this Memorandum or any other Confidential Mark Byers, SIOR Information. Although additional Confidential Information, which may include engineering, environmental or other Executive Vice President reports, may be provided to qualified parties as the marketing period proceeds, prospective purchasers should seek +1 205 314 5522 advice from their own attorneys, accountants, engineers and environmental experts. Neither EGS nor Owner guarantees [email protected] the accuracy or completeness of the information contained in this Memorandum or any other Confidential Information provided by EGS and Owner. Owner expressly reserves the right, at its sole discretion, to reject any offer to invest in the Deborah McGill Smith, SIOR Project or to terminate any negotiations with any party at any time with or without written notice. Owner shall have no Vice President – Industrial legal commitment or obligations to any prospective investor unless and until a written sale agreement has been fully Brokerage and Consulting executed, delivered and approved by Owner and any conditions to Owner’s obligations thereunder have been satisfied or +1 205 314 5534 waived. Owner has retained EGS as its exclusive broker and will be responsible for any commission due to EGS in [email protected] connection with a transaction relating to the Project pursuant to a separate agreement. EGS is not authorized to make any representation or agreement on behalf of Owner. Each prospective investor will be responsible for any claims for commissions by any other broker in connection with an investment in the Project if such claims arise from acts of such prospective investor or its broker. This Memorandum is the property of Owner and all parties approved by Owner and may be used only by parties approved by Owner. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone except as permitted under the Confidentiality Agreement. Cushman & Wakefield / EGS Commercial Real Estate 3 EXECUTIVE SUMMARY KEY INVESTMENT CONSIDERATIONS Cushman & Wakefield / EGS Commercial Real Estate is pleased to present 100% Leased to Frito Lay Rolling Sales, LP this outstanding opportunity to acquire a 25,851-square foot (sf) building occupied by Frito Lay Rolling Sales, LP, a division of PepsiCo, Inc. The warehouse and distribution facility houses Frito Lay’s North Alabama administration and distribution of Frito Lay products for grocery and convenience stores. Frito Lay has recently extended their lease term for an additional ten (10) years. 10 year lease term, beginning Madison, Alabama is part of the Huntsville MSA. Huntsville has recently September 1, 2019 enjoyed successful economic development including Facebook, GE Aviation, Polaris, LG Electronics and a recently announced Toyota-Mazda partnership for an OEM automotive plant. Strategic Location – Madison is an ideal location for companies to distribute product to the dynamic Huntsville MSA. The building sits just north of I-565, the east/west corridor between I-65 and the City of Huntsville. Proximity to Huntsville – Huntsville has seen tremendous growth over the past few years, with some economists predicting it’s size and economy may one day make it Alabama’s largest city. Toyota and Mazda have just announced a joint venture to build an auto assembly plant in Huntsville. GE Aviation has just occupied two buildings that cost $200 million to build. Accessibility to Interstate 65/565 – Madison and Huntsville, sister cities, are connected together via I-565, the east/west interstate route through the area. I-565 connects to I-65, the north/south interstate through Alabama connecting Madison with Birmingham, Montgomery and Mobile to the south and Nashville to the north. Credit Tenant – Frito Lay Rolling Sales, LP is a subsidiary of PepsiCo, Inc which at the end of year 2018 had net revenues of $19.5 billion and net income of $6.85 billion. Cushman & Wakefield / EGS Commercial Real Estate 4 Investment Offering Investment Offering & Highlights THE OFFERING . A 25,851-square-foot (sf) building located in Madison, AL . Occupied by Frito Lay Rolling Sales, LP, a subsidiary of PepsiCo, Inc. North Alabama administration and distribution facility . Price: $2,200,000 – 6.8% YR 1 return . Ten (10) year lease LOCATION . Located at 114 Jetplex Circle, Madison, AL . Near Huntsville International Airport . Excellent access to Interstates 565 and 65 . Located near Huntsville, Redstone Arsenal and US Space and Rocket Center REAL ESTATE . Well-maintained facility . Pre-engineered building construction with asphalt and concrete truck court . Constructed in 1982 and added onto in 1996 and 2006 . Large lot accommodating parking for many route trucks and delivery trucks . Newly constructed maintenance shop building LEASE / TENANT . Long-Standing Tenant: Frito Lay has occupied the building for more than 30 years . Credit: Frito Lay Rolling Sales, LP is a subsidiary of PepsiCo, Inc. Lease Term: 10 years (Tenant recently renewed its lease for ten (10) years) HUNTSVILLE ECONOMY . Huntsville has the most educated population in the state. It is a technology hub, attracting advanced manufacturers and government agencies. Cushman & Wakefield / EGS Commercial Real Estate 5 Property Overview Property Overview LEASE SUMMARY PROPERTY DESCRIPTION Premises Site and Building Address 114 Jetplex Circle Madison, AL 35758 Tenant Frito Lay Rolling Sales, LP Lot Size 2.78 +/- acres Term 10 years Building Commencement September 1, 2019 Completion: Originally completed in 1982. Expiration August 31, 2029 Added additions in 1996 and 2006. Right to Cancel None Size: 25,851 sf Annual Rent $150,000/yr NNN Building Site Coverage: Approximately 21.23% Expenses Taxes, Insurance and Maintenance* Construction: Pre-engineered Metal Construction Renewal Options None Office Area: 15% *The tenant is responsible for all property real estate taxes, property insurance, Clear Height: 22’ to 32’ tenant’s liability insurance, and performance of all maintenance, repairs, and replacements to the premises, except for repairs or replacements to the foundation, Dock Doors: 2 structure, roof and HVAC replacement. Van Height/LowBoy: 2 Exterior Dock Platform: 14 positions; 4 doors Roof: Metal Screw Down Roof RENTS & RETURNS Year12345678910 Year Aug - 20 Aug – 21 Aug – 22 Aug – 23 Aug – 24 Aug – 25 Aug – 26 Aug – 27 Aug – 28 Aug - 29 Ending Rent $150,000 $153,000 $156,060 $159,181 $162,365 $165,612 $168,924 $172,303 $175,749 $179,264 Return 6.82% 6.95% 7.09% 7.24% 7.38% 7.53% 7.68% 7.83% 7.99% 8.15% Cushman & Wakefield / EGS Commercial Real Estate 6 Frito Lay Rolling Sales, LP, the property’s tenant, is an Tenant Overview American subsidiary of PepsiCo that manufactures, markets, and sells snack foods. Through Frito Lay, PepsiCo is the largest globally distributed snack food company. In 2018, Frito Lay North America accounted for 25% of PepsiCo’s annual sales. The Frito Lay family of brands includes these and many other snack foods: Cushman & Wakefield / EGS Commercial Real Estate 7 PROPERTY PHOTOS Property Overview LOADING AREA EXTERIOR VIEW DOCK DOORS DISTRIBUTION
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