OFFERING MEMORANDUM 1100 E Williams St, Apex, NC 27502 AutoZone ™ EXCLUSIVELY LISTED BY CONRAD SARREAL CHAD KURZ KYLE MATTHEWS Associate SVP & National Director BROKER OF RECORD
[email protected] [email protected] LIC # C27092 ™ DIR (310) 919-5760 DIR (214) 692-2927 MOB (626) 230-1006 MOB (562) 480-2937 LIC # 01982875 (CA) LIC # 01911198 (CA) CONTENTS 4 EXECUTIVE SUMMARY 5 FINANCIAL OVERVIEW 6 TENANT OVERVIEW 12 AREA OVERVIEW ™ EXECUTIVE SUMMARY Investment Highlights PROPERTY • High-Quality Construction – Brick exterior with metal canopies • Low Rent/SF – AutoZone is only paying $12.92/SF which is lower than most of their other fee simple build-to-suit rents • Minimal Landlord Responsibilities – Tenant responsible for parking lot, maintenance of HVAC, taxes, and insurance LOCATION • Top 2 MSA – Apex is a suburb of Raleigh and located in the 2nd largest MSA in North Carolina • Explosive Growth – 1-mile population grew by ±110% between ’00 and ’10 and ±46% between ’10 and ’17 • Affluent Suburb – Average household incomes within a 3-mile and 5-mile radius exceed $117,000 (above Top 2 MSA) • Excellent Retail Synergy – E Williams St is anchored by a Walmart Supercenter and features other notable tenants such as Dunkin Donuts, Family Dollar, Firestone, Arby’s, BB&T Bank, McDonald’s, and more • Busy Traffic Counts – E Williams St sees an average traffic count of ± 38,000 VPD and is located off of US Highway 1 which has an average traffic count of ± 33,000 VPD • Upcoming Developments – Upcoming Apex Developments include a 92-acre