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SC2 Sale Leaseback

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SC2 Sale Leaseback SALE LEASEBACK INVESTMENT OFFERING SC2 Supply Chain Services and Solutions 2314 East Wilkins Drive Mossville, IL 61552 (Peoria MSA) TABLE OF CONTENTS I. Executive Summary II. Location Overview III. Market & Tenant Overview Executive Summary Site Plan Tenant Profile Investment Highlights Aerial Location Overview Property Overview Map Demographics Market Statistics Photos NET LEASE INVESTMENT OFFERING DISCLAIMER STATEMENT DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended STATEMENT: to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NET LEASE INVESTMENT OFFERING EXECUTIVE SUMMARY EXECUTIVE The Boulder Group is pleased to exclusively market for sale a single tenant SC2 Supply Chain Services and Solutions SUMMARY: (SC2) sale leaseback opportunity located in the Peoria MSA. The property is strategically positioned in the immediate vicinity to numerous large Caterpillar manufacturing plants. The SC2 property is utilized for contract packaging and cross dock services for Caterpillar. The SC2 lease will have an initial primary term of seven years remaining upon close of escrow. This absolute triple net lease will feature 2% annual rental escalations. The SC2 property is located on 39.78 acres and features four steel office-warehouse light industrial buildings of different sizes totaling 478,400 square feet. The surrounding area is affluent with average annual household incomes within a five mile radius in excess of $104,000. There are over 45,000 people living within a seven mile radius of the property. Mossville is a town located just north of Peoria and is part of the Peoria MSA. The Peoria MSA has a population of approximately 375,000 people, making it the third largest metropolitan area in the state of Illinois. In addition to being utilized for contract packaging and cross dock services for Caterpillar, top coat industrial finishing is also performed on a small array of service parts received at this location prior to packaging. The contract packaging business services post production service parts throughout Caterpillar’s dealer network. Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Caterpillar is a publicly traded company on the New York Stock Exchange (CAT) with a market capitalization in excess of $90 billion. In addition to the Caterpillar plants, the immediate area will soon benefit from a recently announced partnership between Caterpillar and SunSelect. In the partnership, SunSelect would buy land that Caterpillar owns next to its energy generation facility to build a hydroponic greenhouse. The greenhouse would use excess thermal energy and carbon dioxide from Caterpillar’s facility, boosting healthy plant production. While plans aren’t finalized yet, the empty land could soon be filled with up to 60 acres of greenhouses and bring 300 jobs to the area. The SunSelect company launched in British Columbia in 1985, now operates more than 70 acres of greenhouses in Canada and California, serving as one of the largest producers of bell peppers in North America. SC2 currently offers air filtration products & service, steel fabrication, kitting, assembly, industrial blasting & painting, inventory management, warehousing, and in-house maintenance across 11 locations in three states (Illinois, Wisconsin & Texas). Currently, SC2 is the largest down-state Illinois contract packager for Caterpillar. NET LEASE INVESTMENT OFFERING INVESTMENT HIGHLIGHTS INVESTMENT • Low rent PSF of $2.25 HIGHLIGHTS: • New lease with 2% annual rental escalations • Absolute triple net lease with no landlord responsibilities • Since 2009, the tenant has invested $2.9 million into the property • Strategic location adjacent to numerous large Caterpillar plants • Affluent area with average annual household incomes within a five mile radius in excess of $104,000 • Tenant has successfully been in business for over 30 years • Tenant is the largest down-state Illinois contract packager for a Caterpillar • Strategic Midwest location with over 56 million people living within a 350 mile radius of the property • Located in the Peoria MSA which is home to the corporate headquarters of Caterpillar and the third largest metropolitan area in the state of Illinois NET LEASE INVESTMENT OFFERING PROPERTY OVERVIEW Price: $10,500,000 PROPERTY OVERVIEW: Cap Rate: 10.25% Net Operating Income: $1,076,400 Lease Commencement Date: Sale Leaseback – Close of Escrow Lease Term: 7 Years Rental Escalations: 2% Annual Renewal Options: Three 5-Year Tenant/Guarantor: SC2, Supply Chain Services & Solutions Services Year Built: 1977/1997 Lease Type: NNN – No Landlord Responsibilities Building Sizes: A: 147,400 SF B: 40,000 SF C: 156,000 SF D: 135,000 SF Total: 478,400 SF Land Size: 39.78 Acres NET LEASE INVESTMENT OFFERING MARKET STATISTICS MARKET The Peoria Industrial market ended the four quarter 2017 with a vacancy rate of 3.9%. The vacancy rate is down over STATISTICS: the previous quarter, with net absorption totaling negative 48,300 square feet in the fourth quarter. Vacant sublease space remained unchanged in the quarter, ending at 0 square feet. Rental rates ended the fourth quarter at $4.54, an increase over the previous quarter. There were no properties under construction at the end of the quarter. INDUSTRIAL MARKET STATISTICS (Q4 2017) Peoria MSA Existing Inventory: 28,700,000 SF Net Absorption (YTD): (48,300) SF Vacancy: 3.9% Rental Rate (Gross): $4.54 Under Construction: 0 SF Source: CoStar NET LEASE INVESTMENT OFFERING SITE PLAN SITE WILKENS DRIVE Building Maintenance Maintenance N NET LEASE INVESTMENT OFFERING AERIAL N d a o R a n e l a G d l O h t r o East Cedar Hills Drive (16,000 VPD) 29 UPPER PEORIA LAKE MOSSVILLE ELEMENTARY SCHOOL N NET LEASE INVESTMENT OFFERING MAP N NET LEASE INVESTMENT OFFERING EXTERIOR PHOTOS NET LEASE INVESTMENT OFFERING INTERIOR PHOTOS NET LEASE INVESTMENT OFFERING TENANT PROFILE TENANT SC2 Supply Chain Services and Solutions began in Tremont, Illinois in 1983 as Superior Blasting & Painting Inc. PROFILE: The business grew over the following 5 years becoming a supplier to a local fortune 500 company. In 1988, the employees purchased the company through an ESOP (Employee Stock Ownership Plan). Since then, the company rebranded and renamed itself to better align its identity with its diverse offering of services and solutions to a variety of customers in the agriculture, mining & automotive industries. SC2 currently offers air filtration products & service, steel fabrication, kitting, assembly, industrial blasting & painting, inventory management, warehousing, and in-house maintenance across locations in two states (Illinois & Texas). Currently, SC2 is the largest down-state Illinois contract packager for a Fortune 500 company and an Automotive Manufacturer. Within the last ten years, SC2 has continued to grow in both size and services. In 2004, SC2 acquired NuAir Filter Corporation located in Bloomington/Normal, IL. The addition of NuAir provided many new service offerings such as air filtration, fabrication, kitting, sequencing and in-house maintenance. In the last six years, they have added Logistics facilities in Mossville and Bartonville, IL as well as Waco, TX. Website: www.sc2services.com Headquarters: Peoria, IL NET LEASE INVESTMENT OFFERING LOCATION OVERVIEW LOCATION Mossville is an unincorporated community between Peoria and Chillicothe in Peoria County. OVERVIEW: Mossville is part of the Peoria, Illinois Metropolitan Statistical Area and resides closely to the northern part of Peoria. Centered on the Illinois River valley and the end of Illinois Route 6 at Illinois Route 29, Mossville informally encompasses a number of different neighborhoods along the valley: Renchville, Brookview, a cluster of houses along the Illinois River referred to as “The Lanes”, and Cedar Hills Estates, as well as the unincorporated village of 900 that can be considered Mossville proper. The Lake of the Woods subdivision, as well as Colony Point, both on the west bluff of the Illinois River valley overlooking Mossville, can also be considered to be part of the greater Mossville area. Caterpillar Inc. located its Technical Research Center (Tech Center) in Mossville in the 1960s, and subsequently put production facilities (the Mossville plant) there as well. A co-operated Ameren/Caterpillar generation plant and a small industrial park also sits
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