SINGLE TENANT ABSOLUTE NNN Investment Opportunity 17204 N 67th Avenue | Glendale, Arizona PHOENIX MSA ACTUAL SITE EXCLUSIVELY MARKETED BY MATTHEW MOUSAVI PATRICK R. LUTHER, CCIM SEAN LIEB ED BEEH Managing Principal Managing Principal Vice President Employing Broker SRS Real Estate Partners-West, LLC SRS Real Estate Partners-West, LLC SRS Real Estate Partners-West, LLC SRS Real Estate Partners-West, LLC [email protected] [email protected] [email protected] D: 949.698.1116 | M: 714.404.8849 D: 949.698.1115 | M: 480.221.4221 D: 602.682.6010 AZ License No. BRO32807000 610 Newport Center Drive, Suite 1500 610 Newport Center Drive, Suite 1500 3131 E Camelback Road Newport Beach, CA 92660 Newport Beach, CA 92660 Phoenix, AZ 85016 AZ License No. BR579712000 CA License No. 01912215 AZ License No. SA651420000 2 ACTUAL SITE SRS REAL ESTATE PARTNERS-WEST, LLC TABLE OF CONTENTS INVESTMENT SUMMARY Offering Summary 5 Investment Highlights PROPERTY OVERVIEW Aerials Site Plan 9 Location Map AREA OVERVIEW 16 Demographics FINANCIALS Rent Roll Pricing Summary 21 Brand Profile 3 ACTUAL SITE SRS REAL ESTATE PARTNERS-WEST, LLC PROPERTY PHOTO 4 ACTUAL SITE SRS REAL ESTATE PARTNERS-WEST, LLC INVESTMENT SUMMARY SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, JABZ Smoke and Vape Superstore investment property located in Glendale, Arizona (Phoenix MSA). The tenant, JABZ, LLC, recently signed a brand new 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases (commencing Year 3) throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The subject property is strategically located near the signalized, hard corner intersection of W Bell Road and N 67th Avenue, averaging a combined 59,100 vehicles passing by daily. The site is ideally situated adjacent to The Home Depot, a premium, big-box tenant that significantly increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. In addition, JABZ Smoke and Vape is located less than 1.5 miles east of Arrowhead Towne Center, a 1,076,000 square foot super regional center anchored by Macy’s, Dillard’s, Dick’s Sporting Goods, and AMC Theatres. As the leading shopping destination in the West Valley with more than 160 retail, dining, and entertainment options, Arrowhead Towne Center serves one of the fastest-growing trade areas in all of Arizona. W Bell Road is one of the primary retail corridors traveling through Glendale, featuring a variety of other national/credit tenants including Walmart Supercenter, Target, Costco Wholesale, Kohl’s, Sam’s Club, Ross Dress for Less, T.J. Maxx, and more, further increasing consumer traffic to the immediate trade area. Moreover, the asset is surrounded by several apartment complexes including Artessa, Sierra Canyon (236 units), and Jerome (408 units), providing a direct residential consumer base from which to draw. The 5-mile trade area is supported by nearly 320,000 residents and 98,500 daytime employees. Residents within 3 miles of the subject property feature a healthy average household income of $98,000. 5 ACTUAL SITE SRS REAL ESTATE PARTNERS-WEST, LLC PROPERTY PHOTOS 6 ACTUAL SITE SRS REAL ESTATE PARTNERS-WEST, LLC OFFERING SUMMARY OFFERING Pricing $1,900,000 Net Operating Income $117,800 Cap Rate 6.20% Guarantor Sanad Investments, LLC Tenant JABZ, LLC Lease Type Absolute NNN Landlord Responsibilities None Sales Reporting No PROPERTY SPECIFICATIONS Rentable Area 6,200 SF Land Area 0.83 Acres 17204 N. 67th Avenue Property Address Glendale, Arizona 85308 Year Built 2000 Parcel Number 200-44-746A Ownership Fee Simple (Land & Building) 7 ACTUAL SITE SRS REAL ESTATE PARTNERS-WEST, LLC INVESTMENT HIGHLIGHTS Brand New 10-Year Lease | Annual Rental Increases Adjacent to The Home Depot | Arrowhead Towne Center | • JABZ, LLC, recently signed a brand new 10-year lease with 2 (5-year) options Extremely Dense Retail Corridor to extend, demonstrating their commitment to the site • Situated adjacent to The Home Depot, a premium, big-box tenant that • Guarantor: Sanad Investments, LLC significantly increases consumer draw to the immediate trade area and • 2% annual rental increases (commencing Year 3) throughout the initial term promotes crossover store exposure for the site and option periods, steadily growing NOI and hedging against inflation • Located less than 1.5 miles east of Arrowhead Towne Center, a 1,076,000 square foot super regional center anchored by Macy’s, Dillard’s, Dick’s Sporting Absolute NNN | Fee Simple Ownership | Goods, and AMC Theatre Zero Landlord Responsibilities • Arrowhead Towne Center is the leading shopping destination in the West • Tenant pays for CAM, taxes, insurance Valley with more than 160 retail, dining, and entertainment options • No landlord responsibilities • Other nearby national/credit tenants include Walmart Supercenter, Target, • Ideal, management-free investment for a passive investor Costco Wholesale, Kohl’s, Sam’s Club, Ross Dress for Less, T.J. Maxx, and more • Trade area has over 3 million SF of retail development Signalized, Hard Corner Intersection | State Highway 101 | Excellent Visibility Along W Bell Road Direct Residential Consumer Base | • Located near the signalized, hard corner intersection of W Bell Road and N 67th Strong Demographics in 5-Mile Trade Area Avenue, averaging a combined 59,100 vehicles passing by daily • Nearby apartment complexes include Artessa, Sierra Canyon (236 units), and • Situated just 2 miles east of the on/off ramps to State Hwy 101 (155,000 VPD), Jerome (408 units) the primary commuter thoroughfare traveling through Glendale • Provides a direct residential consumer base from which to draw • Excellent visibility via significant street frontage and prominent signage • Nearly 320,000 residents and 98,500 employees support the trade area • Residents within 3 miles of the subject property feature a healthy average household income of $98,000 8 SRS REAL ESTATE PARTNERS-WEST, LLC PROPERTY OVERVIEW Location Parking Glendale, Arizona There are approximately 21 parking spaces on the owned parcel. Maricopa County The parking ratio is approximately 3.38 stalls Phoenix MSA per 1,000 SF of leasable area. Access Parcel Parcel Number: 200-44-746A N. 67th Ave: 1 Access Point Acres: 0.83 Square Feet: 36,123 SF Traffic Counts Construction N. 67th Ave: 24,700 Vehicles Per Day W. Bell Rd: 34,400 Vehicles Per Day Year Built: 2000 Agua Fria Fwy/St Hwy 101: 155,000 Vehicles Per Day Improvements Zoning There is approximately 6,200 SF C-2: Commercial of existing building area 9 SRS REAL ESTATE PARTNERS-WEST, LLC 34,400 VEHICLES PER DAY BELL RD. 19,900 VEHICLES PER DAY N. 67TH AVE. 10 SRS REAL ESTATE PARTNERS-WEST, LLC ARROWHEAD CROSSING 34,400 VEHICLES PER DAY BELL RD. 19,900 VEHICLES PER DAY N. 67TH AVE. 11 SRS REAL ESTATE PARTNERS-WEST, LLC STATE HIGHWAY 101 MIDWESTERN 114,300 UNIVERSITY VEHICLES PER DAY ABRAZO ARROWHEAD HOSPITAL DEER VALLEY HIGH SCHOOL ARROWHEAD TOWNE CENTER ARROWHEAD MARKETPLACE 34,400 VEHICLES PER DAY W. BELL RD. PEORIA SPORTS COMPLEX N. 67TH AVE. ARROWHEAD CROSSING ARIZONA CHRISTIAN UNIVERSITY 24,700 VEHICLES PER DAY 12 SRS REAL ESTATE PARTNERS-WEST, LLC ANDREW LAWSON M.C., LMFT, LISAC 24,700 VEHICLES PER DAY ANNE L. CONSER, LCSW N. 67TH AVE. 13 SRS REAL ESTATE PARTNERS-WEST, LLC PROPERTY PHOTO 14 ACTUAL SITE SRS REAL ESTATE PARTNERS-WEST, LLC LOCATION MAP GLENDALE 2020 ESTIMATED POPULATION 1 Mile 11,082 3 Miles 116,050 5 Miles 319,697 PHOENIX 2020 AVERAGE HOUSEHOLD INCOME 34 min | 17 miles 1 Mile $93,422 3 Miles $98,343 5 Miles $86,084 2020 ESTIMATED TOTAL EMPLOYEES 1 Mile 6,048 3 Miles 52,148 5 Miles 98,564 15 SRS REAL ESTATE PARTNERS-WEST, LLC AREA OVERVIEW GLENDALE, ARIZONA The City of Glendale is the 7th largest city in Arizona with a population of 248,267 as of July 1, 2020. Located in the northwesten1 part of the metropolitan Phoenix area and occupying approximately 59 square miles of land, the City is home to the Arizona Cardinals and the Arizona Coyotes. The City is also the owner of Can1elback Ranch, the spring training facility for the Los Angeles Dodgers and the Chicago White Sox. The Business attraction is focused on five targeted industries: aerospace & Defense, manufacturing, signature retail and entertainment, medical technology and advanced business services. In 2015 the City successfully hosted the 2015 Pro Bowl and Super Bowl XLIX which was reported by the Arizona State University WP Carey School of Business had a major economic impact on Arizona. Healthcare is expected to be one of the fastest growing occupations in Glendale over the next five years. One out of every seven new jobs created will be in healthcare occupations. Glendale provides access to a workforce of 1.43 million within a 30-minute commute. The city has four focus areas, which include Loop 101 Corridor, the Downtown City Center, North Glendale, and the Loop 303 Corridor. All areas offer unique opportunities for business development. Located in North Glendale is the Talavi Business Park, a 67-acre class-A office complex of nationally known companies. This fast growing trade area continues to offer successful opportunities for new retail and office development. Glendale’s three hospitals are strategically located throughout the city, employing 4,100 people. The hospitals are owned by major healthcare organizations including Dignity Health, Banner Health and Abrazo. Midwestern University is Arizona’s first largest medical school and home to the state’s first Veterinary school, one of only five in the Western US.