Verizon Wireless
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verizon wireless New verizon in For more info on this opportunity please contact: ZANDY SMITH CHRIS PETERS [email protected] | (415) 274-2707 [email protected] | (415) 274-2703 dense retail area CA BRE# 01734525 CA BRE# 01339983 7701 Laurel Ridge Road, Louisville, KY 40219 KENTUCKY COOPERATING BROKER: Steven Shaffer [email protected] | (502) 365-3840 License# 74233 Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. NEW FREESTANDING VERIZON WIRELESS IN LOUISVILLE, KENTUCKY Investment Highlights The subject property is located less than 2 miles east of Interstate 65, the main north-south artery connecting the Gulf to Lake Michigan. This Verizon store is just 7 miles from Louisville International Airport and 14 miles from downtown Louisville. PRICE: $2,269,302 CAP: 6.45% RENTABLE SF . 4,200 SF PRICE PER SF . $540.32 LAND AREA . 1.045 Acres LEASE TYPE . NN YEAR BUILT . 2015 NATIONAL TENANT Verizon Wireless, ranked Best Wireless Service in the World by Global Traveler (2013), has the largest 4G LTE network in the US Verizon operates over 1,700 stores. 2014 revenue was $87.6 billion PROMINENT, HIGH VISIBILITY BUILDING Located adjacent to Jefferson Mall, anchored by Sears, Dillard’s, Old Navy, and Macy’s Proposed Walmart Supercenter to open in 2016 directly behind subject property (call agent for details) The subject property is located across the street from a new construction, 230,000 SF shopping center called Jefferson Commons, which features HHGregg, Michael’s, Academy Sports, Hobby Lobby and Ross Located on an intersection with excellent access and visibility. Traffic counts on Outer Loop exceed 24,000 vehicles per day Within a 5-mile radius, the population exceeds 166,800 people. Average household incomes are $56,300 BRAND NEW CORPORATE LEASE 7-year primary lease term with two (2) five-year options with 10% rental increases in the options VERIZON | 2 CONVENIENT LOCATION BOOMING RETAIL CORRIDOR Located within minutes from Interstate 65, Interstate 265, and Jefferson Mall, anchored by Sears, Macy’s, Dillard’s, and JC Penney, is located just the Louisville International Airport, there are 166,800 people north of the Verizon store. The recently constructed 230,000 SF Jefferson Commons within a 5-mile radius. features Michaels, HHGregg, and Academy Sport & Outdoors. 61 oad R hepherdsville S JEFFERSON MALL FESTIVAL AT JEFFERSON COURT Hartstern Elementary Okolona Elementary Jefferson Boulevard 24,600 DAILY Outer Loop ® oad R JEFFERSON COMMONS Outer Loop idge R 61 Proposed Laurel Walmart Supercenter 61 65 Preston Highway Southern LOUISVILLE High School CITY CENTER VERIZON | 3 Surrounding Retail Jefferson Mall ® Outer Loop 24,600 DAILY JEFFERSON COMMONS Proposed Walmart Supercenter Located ON THE corner OF laurel RIDGE road AND OUTER loop, facing JEFFERSON mall Dillard's ROSS VERIZON | 4 Income & Expense PRICE $2,269,302 Price Per Square Foot: $540.31 Capitalization Rate: 6.45% Total Rentable Area (SF): 4,200 Lot Size (Acres): 1.045 STABILIZED INCOME Per Square Foot Scheduled Rent $35.00 $147,000 Effective Gross Income $35.00 $147,000 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Roof and Stucture Reserve ($.15) ($630.00) EQUALS NET OPERATING INCOME $146,370 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. VERIZON | 5 Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY Current Monthly Yearly Monthly Rent/ Yearly Rent/ Tenant Name Sq. Ft. Term Rent Rent Rent FT FT Verizon Wireless 4,200 5/1/15 4/30/22 $147,000 $12,250 $147,000 $2.92 $35.00 5/1/22 4/30/27 Option 1 $13,475 $161,700 $3.21 $38.50 5/1/27 4/30/32 Option 2 $14,151 $169,806 $3.37 $40.43 Totals: 4,200 $147,000 $12,250 $147,000 $2.92 $35.00 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. VERIZON | 6 Verizon Wireless ABOUT VERIZON 2014 REVENUE Verizon Communications Inc, headquartered in New York, is a global $87.6 BILLION VERIZON was ranKED leader in delivering broadband and other wireless and wireline NUMBER OF EMPLOYEES 22ND ON FORBES LIST communications services to mass market, business, government 76,985 OF THE WORLD’S MOST and wholesale customers. Verizon Wireless operates America’s most NUMBER OF LOCATIONS valuable brands reliable wireless network, serving more than 108.2 million customers 1,700+ nationwide. Globally, they offer voice and data services in more than 200 countries. Verizon Wireless employs 76,985 people and has 1,700+ company operated retail locations in the US. In 2014, Verizon Wireless reported total revenue of $87.6 billion. On the Forbes lists of the World’s Most Valuable Brands and the World’s Biggest Public Companies, Verizon ranks #22 and #26, respectively. VERIZON | 7 Photos Verizon HIGH visibility OF VERIZON property from surrounding O’Charley’s retail, JEFFERSON Toys’R’Us commons AND JEFFERSON mall across THE street JEFFERSON commons JEFFERSON commons traffic ON OUTER loop VERIZON | 8 Regional Map Traffic counts Louisville IN EXCESS OF Location 24,600 vpd on OUTER loop indianapolis VERIZON cincinnati Outer Loop Louisville frankfort Lexington 1 Hour 55 Miles VERIZON | 9 Location & Demos LOUISVILLE, KY OVERVIEW Louisville is the largest city in the Commonwealth of Kentucky and the Population 28th most populous city in the United States, with a metro population of 1-Mile 3-Mile 5-Mile 1,315,900. The geography of Louisville, specifically its river accessibility, 2010 8,959 72,896 164,809 central location, and mild climate have contributed to its importance 2014 8,960 73,677 166,858 as a center for industry and commerce. The city has traditionally been a 2019 9,118 75,538 171,504 manufacturing center for durable goods, including appliances, cars and trucks, and has recently diversified, bringing more skilled and high-tech 2013 HOUSEHOLD INCOMES employment opportunities. 1-Mile 3-Mile 5-Mile Louisville was ranked #41 on Forbes’ list of Best Place for Business and Average $50,461 $53,010 $56,317 Careers in 2014. The Louisville area is headquarters to Fortune 500 Median $40,190 $42,247 $44,436 companies Yum! Brands (which includes KFC), Kindred Healthcare, and Humana, Inc. Manufacturing plants for GE Consumer Products, and Swift TOP EMPLOYERS IN LOUISVILLE & Co. are also located in Louisville. Employer # of Employees* The city is home to several institutions of higher learning including United Parcel Service 17,206 the University of Louisville, Bellarmine University, Spalding University, Ford Motor Company 9,903 and Sullivan University. Louisville is a City of Parks. One of the nation’s Norton Healthcare 7,850 largest park expansions is currently underway, it will add 4,000 new acres Jewish Hosp. Healthcare Services 5,450 of park land and the 100-mile Louisville Loop trail encircling the entire *Approximate community. VERIZON | 10 A unique HUMAN THE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS RESULTS-DRIVEN client experience [ www .capitalPacific .com ] ZANDY SMITH CHRIS PETERS [email protected] | (415) 274-2707 [email protected] | (415) 274-2703 CA BRE# 01734525 CA BRE# 01339983 KENTUCKY COOPERATING BROKER: Steven Shaffer [email protected] | (502) 365-3840 License# 74233 Copyright © 2015 [Capital Pacific Real Estate Brokerage Company].