OFFERING MEMORANDUM NEW 2020 SHERWIN WILLIAMS Essential Retailer | Investment Grade Credit FOR MORE INFORMATION: Luke Waters | (770) 301-2349 |
[email protected] *Similar Location Shown PROPERTY HIGHLIGHTS 8982 Madison Boulevard, Madison, AL 35758 POPULATION 61,000 + Long Term Population CORPORATE Lease BUILD TO SUIT Located in INVESTMENT GRADE CREDIT UPGRADED Huntsville, AL Tenant CONSTRUCTION PROPERTY GLA $ PROPERTY YEAR BUILT ANNUAL RENT ADDRESS 100% 4,000 SF $107,000.04 8982 Madison Boulevad Occupancy 2020 Madison, AL 35758 EXECUTIVE SUMMARY 8982 Madison Boulevard, Madison, AL 35758 SUMMARY TERMS $107,000.04 PRICE $1,945,455 ANNUAL RENT (4,000 SF building) CAP 5.50% INITIAL RENT July 15, 2020 COMENCEMENT *estimated for new construction HIGHLIGHTS: INITAIL LEASE August 1, 2030 • New Construction with July 2020 Delivery EXPIRATION • Freestanding Upgraded Construction Sherwin Williams • Modified NNN Corporate Backed Lease INITIAL LEASE TERM 10-Year Net/Net • 22,000 + Vehicles Per Day on Madison Blvd • S&P Investment Grade Credit Rating (BBB) RENEWAL OPTIONS Six (6) / 5— Year Renewals • Huntsville is home to the 12th Largest Development in 8% in Each Option Period the Country known as, MidCity Development (3 miles RENT INCREASES from site) https://www.midcitydistrict.com/ • Tenant Concluded a strong Q1 2020 Performance RE Taxes, Insurance, Interior and despite COVID-19 Market Conditions TENANT non-structural Repairs, HVAC • Site is Located within 3 miles of Huntsville's newest $46 RESPONSILBILITIES maintenance ($750 Limit every