TRIUMPH BELL WEST RANCH 16846 W BELL ROAD | SURPRISE, AZ 85374 JON ROSENBERG JASON REDDINGTON KERI DAVIES 480.294.6011 480.289.4504 480.294.6572 [email protected] [email protected] [email protected] THE OFFERING LevRose Commercial Real Estate is pleased to present the opportunity to acquire 16846 W Bell Road just off Bell Road and Loop 303. The C-C zoned property is a ±20,225 square foot multi-tenant shopping center on a highly traveled intersection in Surprise, AZ. The shopping center is on a hard corner with over 49,000 vehicles per day on Loop 303 and over 26,000 vehicles per day via Bell Road. This shopping center provides daily needs to a dense population. There are over 78,000 people in a one-mile radius and over 147,000 in a three mile-radius. This investment allows for the opportunity to acquire a high cash-flowing property. The property is listed at $5,635,000 which reflects a cap rate of 6.75% (NOI = $380,361). 16846 W Bell Road is a unique retail opportunity that includes a steady cash flow and a diverse tenant mix. This information has been secured from sources believed to be reliable, but no representations or warranties are made, expressed or implied, as to the accuracy of the information.References to square footage are approximate. Buyer and tenant must verify the information and bears all risk for any inaccuracies. All quoted prices are subject to change without notice. 16846 W BELL RD PROPERTY ADDRESS: SUMMARY SURPRISE, 85374 OFFERING PRICE: $5,635,000 PRICE PER SF: $279 PSF CAP RATE: 6.75% NOI: $380,361 OCCUPANCY: 100% 7.97/1,000 SF PARKING: 156 Spaces ZONING: C-C YEAR BUILT: 2004 LOT SIZE: ±2.92 AC BUILDING SIZE: ±20,225 SF PARCEL: 232-39-969 This information has been secured from sources believed to be reliable, but no representations or warranties are made, expressed or implied, as to the accuracy of the information.References to square footage are approximate. Buyer and tenant must verify the information and bears all risk for any inaccuracies. All quoted prices are subject to change without notice. FINANCIAL ANALYSIS INCOME Scheduled Rental Income $360,468 Operating Expense Recover/CAM $137,377 Other Income $35.00 Suite 103-Rent Guaranty $24,840 NET RENT INCOME $522,720 Other Income Late Fees, Admin Fees $10,700 TOTAL INCOME $533,420 EXPENSES Direct Expenses $99,192 Property Tax $48,530 Insurance $5,337 TOTAL OPERATING EXPENSES $140,837 NET OPERATING INCOME $380,361 This information has been secured from sources believed to be reliable, but no representations or warranties are made, expressed or implied, as to the accuracy of the information.References to square footage are approximate. Buyer and tenant must verify the information and bears all risk for any inaccuracies. All quoted prices are subject to change without notice. TENANT PROFILES Musical Surprise opened in the Harris Family living room in 2008 with a goal to make music accessible to everyone- regardless of their age or ability. The following year, it moved to an office park SUITE 105-107 near Reems and Grand Ave and quickly grew to 125 students by offering piano, guitar, voice and drum lessons, music therapy services and preschool music in one location. SIZE ±4,320 January 2nd of 2012, Musical Surprise moved to its current LEASE EXPIRATION 12/31/2023 location at 303/Bell Rd so that it could continue to accept new students into it’s programs. Orangetheory Fitness is a privately owned fitness franchise based in Boca Raton, Florida. It offers group personal training workouts based on high intensity interval training (HIIT) that blend cardio SUITE 108-109 and strength training. There are locations throughout 45 states and 21 countries, with 700 US locations and a total of 1,000 locations worldwide, as of October 2018. SIZE ±3,423 Orangetheory Fitness also has locations in Australia, Canada, LEASE EXPIRATION 1/31/2022 Chile, China, Colombia, Costa Rica, the Dominican Republic, Germany, Guatemala, Hong Kong, Israel, Japan, Kuwait, Mexico, New Zealand, Peru, Singapore, Spain, the United Arab Emirates and the United Kingdom. Pizza Hut is an American restaurant chain, international franchised SUITE 108-109 and founded by Dan and Frank Carney in 1958. The company is known for its Italian-American cuisine menu, including pizza and pasta, as well as side dishes and desserts. Pizza Hut has 16,796 SIZE ±3,423 restaurants worldwide as of March 2018, making it the world's largest pizza chain in terms of locations. It is a subsidiary of Yum! LEASE EXPIRATION 1/31/2022 Brands, Inc., one of the world's largest restaurant companies BELL WEST RANCH SHOPS - Surprise, Arizona Property Description SITE PLAN Site Plan Suite Tenant SF 100- Sports 3,420 102 Bar Suite Tenant SF Rent 103 1,380 Guaranty 100-102 Sports Bar 3,420 Smoke 104 1,200 103 Rent Guaranty 1,380 Shop 105- Musical 4,320 104 Little Amsterdam 1,200 107 Surprise 114 105-107 Musical Surprise 4,320 108- Orange 3,423 113 109 Theory 108-109 OrangeTheory 3,423 112 110 Color Bar Salon 1,478 110 Salon 1,478 111 SHOPS A NAP 111 Forever Young Skin 1,187 111 Spa 1,187 110 112 Bell West Chiropractic 1,175 112 Chirop. 1,175 113 Hole in One Barber 1,042 114 Pizza Hut 1,600 108-109 113 Barber 1,042 NAP BELL ROAD Pizza 114 1,600 Hut 100-102 104 105-107 AVAILABLE 103 BANK LEASE EXPIRATIONS 2019 2020 2021 EASTHAM PARKWAY 2022 2023 This information has been secured from sources believed to be reliable, but no representations or warranties are made, expressed or implied, as to the accuracy of the information.References to square footage are approximate. Buyer and tenant must verify the information and bears all risk for any inaccuracies. All quoted prices are subject to change without notice. Information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. 13 LOCATION OVERVIEW Surprise is a city on the rise. Over the last fifteen years, the city’s population has increased by 393 percent and it has emerged as a sustainable community working towards global connectivity. Employment in construction, healthcare, retail and service sectors has been established, and the city is focused on bringing high quality jobs to its residents and investment-rich global companies to the community. Targeted initiatives have been launched to attract industry sectors like renewable energy, advanced manufacturing, medical tourism, higher education and emerging technologies. Employers and residents alike are attracted to the recreational amenities of this Sonoran-desert community. Surprise Stadium is the Spring Training home of Major League Baseball’s Texas Rangers and Kansas City Royals. The 25-court Surprise Tennis and Racquet Complex, largest in the southwest, attracts tennis legends and USTA tournaments, and White Tank Mountain Regional Park offers 30,000 acres of hiking, biking and camping. This information has been secured from sources believed to be reliable, but no representations or warranties are made, expressed or implied, as to the accuracy of the information.References to square footage are approximate. Buyer and tenant must verify the information and bears all risk for any inaccuracies. All quoted prices are subject to change without notice. AREA OVERVIEW The City of Surprise Arizona is located in the • Major economic drivers include healthcare, Luke Air Force Base, and North West portion of Maricopa County and tourism has a current population of 128,000 people. It is • Banner health employs more than 4,000 people in the Surprise area approximately 45 minutes from Downtown Phoenix. The community is surrounded by through the numerous clinics and hospitals they operate. mountain park lands, a regional lake, and • Luke Air Force Base employs more than 8,000 military and civilian work- pristine open Sonoran desert. ers, with an overall impact on Arizona’s economy of $1.4 billion. • Surprise is home to the Kansas City Royals and the Texas Rangers for their Cactus League Spring Training facilities. Their stadium seats ap- proximately 11,000 fans. • Other amenities include the 25-court USTA facility that hosts numerous tournaments, 7 golf courses, the White Tank Mountain Regional Park, multiple parks, libraries, and public aquatic centers. W BELL ROAD NAP NAP NAP NAP This information has been secured from sources believed to be reliable, but no representations or warranties are made, expressed or implied, as to the accuracy of the information.References to square footage are approximate. Buyer and tenant must verify the information and bears all risk for any inaccuracies. All quoted prices are subject to change without notice. MARKET REPORT 12 Mo Deliveries in SF 12 Mo Net Absorption in SF Vacancy Rate 12 Mo Rent Growth 60.3 K 84.1K 7.1% 2.4% Current Quarter RBA Vacancy Rate Asking Rent Power Center 1,540,570 3.2% $22.63 Neighborhood Center 2,337,422 8.3% $20.35 Strip Center 404,620 9.1% $18.23 General Retail 1,159,809 9.2% $19.25 Submarket 5,442,421 7.1% $20.61 Annual Trends 12 Month Historical Average Forecast Average Vacancy Change (YOY) -0.5% 6.2% 7.4% Net Absorption SF 84.1 K 153,756 26,857 MANAGEMENT SERVICES CONSTRUCTION SALES TRANSPORTATION 34.9% 19.0% 8.5% OCCUPATION 28.8% 8.8% This information has been secured from sources believed to be reliable, but no representations or warranties are made, expressed or implied, as to the accuracy of the information.References to square footage are approximate.