OFFERING MEMORANDUM N
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ARROWHEAD TOWNE CENTER 101
943 EMPLOYEES 217 ACUTE CARE BEDS
ARROWHEAD MEDICAL & SPA
WEST BELL ROAD [45,500 CARS PER DAY]
SUBJECT PROPERTY
2017 GLENDALE, ARIZONA DEMOGRAPHICS 1-Mile 3-Mile POPULATION POPULATION 11,582 115,321 AVERAGE HH INCOME AVERAGE HH INCOME $73,859 $83,378 DAYTIME POPULATION DAYTIME POPULATION 12,471 119,458 NORTH 63RD AVENUE
ABSOLUTE NNN RETAIL INVESTMENT NATIONAL CREDIT TENANT | INFILL PHOENIX (AZ) MSA 6270 WEST BELL ROAD, GLENDALE, ARIZONA 627085308 WEST BELL ROAD, GLENDALE, ARIZONA 85308 1 AERIALS 3 REGIONAL MAP 9
OFFERING SUMMARY 6 GLENDALE OVERVIEW 10
TABLE OF CONTENTS INVESTMENT HIGHLIGHTS 6 MARICOPA COUNTY OVERVIEW 11 click section title to go to page SITE PLAN/PARCEL MAP 7 TENANT OVERVIEW 12
TENANT FLOOR PLAN BUILD OUT 8 DISCLAIMER 13
LEE & ASSOCIATES email: [email protected] phone: 480-666-5561 AZ License # CO002474000 2 AERIAL
SUBJECT PROPERTY
NORTH 63RD AVENUE
WEST BELL ROAD
6270 WEST BELL ROAD, GLENDALE, ARIZONA 85308 return to table of contents 3 AERIAL
SUBJECT PROPERTY
NORTH 63RD AVENUE
WEST BELL ROAD
6270 WEST BELL ROAD, GLENDALE, ARIZONA 85308 return to table of contents 4 LOCAL AERIAL
943 EMPLOYEES 217 ACUTE CARE BEDS
SUBJECT PROPERTY
WEST BELL ROAD [45,500 CARS PER DAY]
NORTH 63RD AVENUE NORTH 63RD AVENUE NORTH 63RD AVENUE
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6270 WEST BELL ROAD, GLENDALE, ARIZONA 85308 return to table of contents 5 INVESTMENT HIGHLIGHTS
-- BRAND NEW ABSOLUTE NNN LEASE WITH NATIONAL CREDIT TENANT TRANSAMERICAN AUTO PARTS OFFERING SUMMARY .. Brand New 9-Year Absolute NNN Lease .. Scheduled Rental Increases .. Significant Tenant Buildout (Retail Showroom, Storeroom, Installation PROPERTY INFORMATION Bays) 6270 West Bell Road .. 4-Wheel Parts, a subsidiary of Transamerican Auto Parts (TAP) Address: Glendale, AZ 85308 .. TAP - Recently Purchased by Polaris Industries (NASDAQ: PII) Gross Leasable Area: 12,047 SF .. TAP - North America’s Largest Retailer and Installer of 4x4 Parts and Accessories Parcel Size: 69,708 SF .. PII 2016 Revenue (over $4.5B) Year Built/Renovated: 2000/2017 .. Huge Lot - Building can be expanded in the future
-- SIGNALIZED, HARD-CORNER INTERSECTION ON MAJOR THOROUGHFARE FINANCIAL INFORMATION .. Combined Intersection Traffic Counts of 45,500 Cars Per Day Price: $3,790,000 .. Strong Retail Thoroughfare with Major Credit Tenancy within Trade Cap Rate: 5.80% Area .. Close Proximity to Arrowhead Towne Center, Interstate 17, and Abrazo NOI: $219,858 Arrowhead Hospital
-- STRONG TRADE AREA DEMOGRAPHICS LEASE ABSTRACT INFORMATION .. Population: 1-Mile, 11,582; 3-Mile, 115,321 NOI: $219,858 .. Average Household Income: 1- Mile, $73,859; 3-Mile, $88,378 Lease Start Start: 6/1/2017 .. Daytime Population: 1-Mile, 12,471; 3-Mile, 119,458 Lease End Date: 5/31/2026 6/1/2020: $18,572.46 Rental Increases: 6/1/2023: $18,823.44
6/1/2026: $20,238.96 Options (2-5 Year): 6/1/2031: $21,754.87
Tenant: TAP Worldwide, LLC (Corporate Lease)
6270 WEST BELL ROAD, GLENDALE, ARIZONA 85308 return to table of contents 6 SITE PLAN/PARCEL MAP
SUBJECT PROPERTY N 63RD AVENUE
PARCEL BOUNDARY APN: 200-48-009D
W BELL ROAD
45,500 PER DAY
6270 WEST BELL ROAD, GLENDALE, ARIZONA 85308 return to table of contents 7 TENANT FLOOR PLAN/BUILD OUT
NORTH 63RD AVENUE WEST BELL ROAD WEST
6270 WEST BELL ROAD, GLENDALE, ARIZONA 85308 return to table of contents 8 Cave Buttes REGIONAL LOCATION MAP Recreation Area TONTO 60 SUBJECT PROPERTY 17 20 McDowell Mountain NATIONAL
ARIZONA NORTH Regional Park 101 r SCOTTSDALE e FOREST v i
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e SURPRISE V ARIZONA 101 North ARIZONA r PEORIA e Mountain 51 v i
R Preserve FOUNTAIN HILLS
a i r GLENDALE
F Phoenix
a u Mountains
g 60 Preserve A ARIZONA Salt River 101 Indian Reservation r ve Ri lt SCOTTSDALE Sa 1720
ARIZONA 1020 202 PHOENIX GOODYEAR
TEMPE MESA
60 60
GILBERT ARIZONA Phoenix South 101 Mountain Estrella Mountain 1020 ARIZONA Park Regional Park 202 Gila River Indian Reservation CHANDLER
6270 WEST BELL ROAD, GLENDALE, ARIZONA 85308 return to table of contents 9 LOCATION OVERVIEW
GLENDALE is located in Maricopa County, AZ, and is strategically located only With over 300 days of sunshine a year Glendale provides a good assortment of 9 miles northwest of Downtown Phoenix. Glendale is the 5th largest city in sports & entertainment offerings and is the sports destination for all or Arizona. Arizona with an estimated population of 245,895. Due to convenient access to The University of Phoenix Stadium is the home field of the Arizona Cardinals State Route 101, which loops the entire Phoenix MSA area, Glendale provides of the NFL; the stadium also hosted Super Bowls XLII in 2008 and XLIX in 2015. access to a workforce of 1.43 million workers within a 30-minute commute. Gila River Arena is a state-of the-art facility that anchors the 223 acre, $1B Westgate Entertainment District, the “crown Jewel” of sports and entertainment In 2017 alone, 13 new companies relocated or expanded in Glendale creating complexes, which was awarded “the best new major concert venue in North 2,091 jobs and absorbed 1.5 million square feet of commercial space. Healthcare America” by the Pollstar concert Industry Award in 2003. Located off Loop 101 is expected to be one of the fastest growing occupations in Glendale over & Glendale Avenue, which is only 12.5 miles northwest of downtown Phoenix, the next five years. One out of every seven jobs created will be in healthcare the arena is home to the NHL’s Phoenix Coyotes and multitude of spectacular field. Glendale’s 3 hospitals are strategically located throughout the city. entertainment events annually. Top 5 employers are: Luke Air Force Base, Banner Health System, Glendale Community College, Arrowhead Hospital and AAA Insurance. Glendale is also home to Camelback Ranch, MLB’s Los Angeles Dodgers and Chicago White Sox spring training facilities’, as well as Arrowhead Towne Center, Glendale is also home to Midwestern University, Arizona’s largest medical which is one of Phoenix’s largest and most popular shopping malls. school and home to the State’s first Veterinary school, one of only five in the Western US and also a major post-graduate international business school: Thunderbird School of Global Management.
ARROWHEAD HOSPITAL UNIVERSITY OF PHOENX STADIUM
6270 WEST BELL ROAD, GLENDALE, ARIZONA 85308 return to table of contents 10 LOCATION OVERVIEW
MARICOPA COUNTY is the State of Arizona’s most populous county encompassing well over half of the state’s residents, and is the 4th most populous county in the U.S. Per the U.S. Census Bureau, the population estimate for July, 2016 was 4,242,997 people, which is more populous than 23 States. Maricopa County is also one of the largest counties by area having a land area greater than that of 7 states, and is the central county for the Phoenix-Mesa-Glendale, MSA (Metropolitan Statistical Area) - the 12th largest in the U.S. Per the United States Census Bureau (March, 2017), Maricopa County also had the highest population growth in the entire Country in 2016, adding 81,360 people. Maricopa County is the 4th largest county in the nation.
SKY HARBOR INTERNATIONAL AIRPORT DOWNTOWN PHOENIX
6270 WEST BELL ROAD, GLENDALE, ARIZONA 85308 return to table of contents 11 TENANT OVERVIEW
4 WHEEL PARTS 4 Wheel Parts is an established industry leader of 4x4 and off-road products. Established in 1961, 4 Wheel Parts is now the global leader in truck, 4X4, Jeep, SUV and off-road aftermarket performance products. 4 Wheel Parts has a nationwide chain of retail stores and service centers. With 84 stores, and 6 distribution centers strategically located throughout the US, 4 Wheel Parts maintains inventory of over $100M of off-road parts sourced from roughly 600 manufacturers.
TRANSAMERICAN AUTO PARTS COMPANY (TAP) For more than 50 year, Compton, California based TAP has been an industry leader in the highly fragmented and growing $10B+ dollar Jeep and truck accessory market. TAP is the largest retailer and installer in the North American market, selling through its own retail and on-line/e-commerce networks while also supporting numerous independent accessory retailers/ installers. For the 12 months ended September 30, 2016, TAP revenue was $740M, and from 2012 through 2015, achieved compound annual sales growth of 15 percent and compound annual EBITDA growth of 17 percent. In November, 2016.
Polaris Industries, Inc. (NYSE: PII) announced the acquisition of TAP for $665M. Polaris Industries is a publicly traded company, founded in 1954, with revenues of over $4.5B.
6270 WEST BELL ROAD, GLENDALE, ARIZONA 85308 return to table of contents 12 DISCLAIMER
This is a confidential marketing profile (the “Profile”) intended solely The Owner expressly reserves the right, at its sole discretion, to reject for your limited use and benefit in determining whether you desire to any or all expressions of interest or offers on the subject Property, and/ express further interest in purchasing the “Property”, located in Lake or to terminate discussions with any entity at any time with or without Forest, CA. notice which may arise as a result of review of this Profile. The Owner shall have no legal commitment or obligation to any entity reviewing This Profile has been prepared by Lee & Associates on behalf of the this Profile or making an offer on the Property unless and until written owner of the Property (the “Owner”) and has been reviewed by rep- agreement(s) for the Property have been fully executed, delivered and resentatives of the Owner. It contains select information pertaining to approved by the Owner and any conditions to the Owner’s obligations the Property and does not purport to be an all inclusive representation therein have been satisfied or waived. of the state of affairs of the Property, or to contain all the information, which prospective investors may require. All financial projections and By receipt of this Profile, you agree that this Profile and its contents are information are provided for general reference purposes only and are of a confidential nature, that you will hold and treat it in the strictest based on assumptions relating to the general economy, market condi- confidence and that you will not disclose this Profile or any of its con- tions, competition and other factors beyond the control of the Owner tents to any other entity without prior written authorization of the Own- and Lee & Associates. The information contained herein was obtained er or Lee & Associates. You also agree that you will not use this Profile from third parties, and it has not been independently verified by Lee or any of its contents in any manner detrimental to the interest of the & Associates. Prospective investors should have the experts of their Owner or Lee & Associates. choice inspect the Property and verify all information. Lee & Associ- ates is not qualified to act as or select experts with respect to legal, Lee & Associates reserves the right to submit the Property to additional tax, environmental, building construction, soils drainage or other such clients on terms that may or may not be identical to the terms con- matters. Therefore, all projections, assumptions and other information tained herein. By receipt of this Profile, you acknowledge that compet- provided and made herein are subject to material variation. Neither the ing interests may develop in connection with offers on the Property, Owner nor Lee & Associates, nor any of their respective directors, offi- and waive any conflict of interest that might arise as a result thereof. cers, affiliates or representatives make any representation or warranty, In such case, Lee & Associates expressly disclaims any obligation to expressed or implied, as to the accuracy of completeness of this Profile advance the interest of any client at the expense of any other client who or any of its contents, and no legal commitment or obligation shall arise may receive this Profile. Dealings with each client shall remain strictly by reason of your receipt of this Profile or use of its contents. confidential and in no case will Lee & Associates disclose the terms of any actual or potential offer to any competing client.
6270 WEST BELL ROAD, GLENDALE, ARIZONA 85308 return to table of contents 13