1st colonial community bank huge deposits
TRANSCRIPT
OFFERING MEMORANDUM
CAPITAL MARKETS | Net Lease Investment
1040 Haddon Ave | Collingswood, NJ
Table Of Contents INVESTMENT SUMMARY
AREA OVERVIEW PROPERTY OVERVIEW TENANT SUMMARY
INVESTMENT
HIGHLIGHTS
CITY OF
COLLINGSWOOD
PROPERTY
DESCRIPTION
TENANT PROFILE
DEMOGRAPHICS RENT ROLL
LOCATIONS MAPS
RETAIL MAPS
Exclusively Marketed By:
John Cigliano Lic #01944544
+1 310.774.3719 | DIRECT
Max Freedman Lic #01875150
+1 818.625.3521 | DIRECT [email protected]
SANDS INVESTMENT GROUP
2701 Ocean Park Blvd., Ste140
Santa Monica, CA 90405
+844.4.SIG.NNN
Adam Scherr Lic #01925644
+1 310.774.3756 | DIRECT
In Cooperation with Housepad, LLP - License No: 0894087
Broker of Record: Ken Gehris
NJ Broker License No. 0678230
INVESTMENT SUMMARY INVESTMENT HIGHLIGHTS
$260 Million in Deposits
New 8 Year Lease Extension with the term Commencing on
January 1, 2015
Excellent Location on a Hard Corner in a Densely Populated
Area with an Above Average Household Income
Well Established Tenant serving the Community for Over 15
Years at this location
Below Market Rent which Increases 1.5% Annually
Zero Landlord Responsibilities
Single tenant, Absolute NNN lease; zero landlord responsibilities.
Tenant pays taxes, insurance, and CAM charges making this an
ideal property for out of state investors.
High Identity Location
Surrounding synergistic tenant mix creates a destination to this
particular trade area and satisfies both daytime and evening
consumer demands.
Location is supported by ideal demographics with over 156,659
people in a 3-mile radius and an average household income of over $75,000.
Trade area is located 7 miles west of Philadelphia.
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Offering Price $1,300,000
Capitalization Rate 5.00%
NOI $65,000
Lease Type Absolute Triple Net (NNN)
Lease Commencement November 6, 2008
Total Building Area 3,750 SF
Total Land Area 0.60 AC
Ownership Fee Simple
Remaining Term 8 Years
Options Two – 5 Year
Rent Increases 1.5% Annually
Lease Guarantee 1st Colonial Community Bank
County Camden
AREA OVERVIEW
CITY OF COLLINGSWOOD, NJ
Collingswood is located in Camden County, New Jersey roughly seven miles east of Philadelphia and 35 miles south of Trenton.
Camden County is the largest county in terms of population in southern New Jersey. The retail district in Collingswood is anchored by
Haddon Avenue with over 20 local restaurants, footsteps to the train station and also home to the arts district featuring art galleries
and a growing theater scene. In 2009, the American Planning Association designated Haddon Avenue as one of its 10 Great Streets. In
addition, Collingswood was named by Men’s Journal Magazine as the best place to go car free in the United States. Many festivals
are held nightly in downtown Collingswood and Collingswood Farmers’ Market was voted best small Farmers Market in the nation by
American Farmland Trust.
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POPULATION 1-MILE 3-MILES 5-MILES
2013 Population
18,211
156,659
334,605
2013 Average HH Income $87,302 $75,333 $75,115
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TRADE AREA MAP
PROPERTY DESCRIPTION
ADDRESS 1040 Haddon Ave, Collingswood, NJ 08108
LOCATION
The property is located on the southwest corner of Haddon Ave. And
Ogden Ave.
PARCEL Tax assessor’s parcel number: 1200062000000002.
BUILDING AREA
The subject property building area is approximately 3,750 square feet.
Located on a parcel of .60 acres.
VISIBILITY AND FRONTAGE Excellent visibility due to its 190 Feet of frontage road visibility on
Haddon Ave providing superior accessibility for both east and west-
bound traffic.
ACCESS
Access to the Bank is easily achieved via intersection on Haddon Ave,
and on Ogden Ave.
DEPOSITS
The deposits are $260 Mil in 2014, and ranks 1# in the area overall in
deposits. (Source: FDIC.gov)
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TENANT PROFILE
1ST COLONIAL BANCORP, INC. (OTCQB - FCOB) 1st Colonial Bancorp, Inc. (the Company) is a Pennsylvania corporation headquartered in Collingswood, New Jersey, and the parent company of 1st Colonial Community Bank (the Bank). The Bank opened for business on June 30, 2000, and provides a wide range of business and consumer financial services through its three New Jersey branch offices located in Collingswood, Westville, and Cinnaminson. The Company was organized as the holding company for the Bank, in connection with the reorganization approved by the Bank's shareholders at the annual
meeting on June 12, 2002. As a bank holding company registered under the Bank Holding Company Act of 1956, the Company is subject to the supervision and regulation of the Board of Governors of the Federal Reserve System (the FRB). The Bank was a national bank until November 1, 2012 when it was granted a state charter by the New Jersey Department of Banking and Insurance. The Bank's deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The Company's operations and those of the Bank are subject to supervision and regulation by FRB, the FDIC, and the New Jersey Department of Banking and Insurance. The principal activity of the Bank is to provide its local communities with general commercial and retail banking services. The Bank is managed as one business segment.
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Valuation
P/E Current 26.80
P/E Ratio (without extraordinary items) 24.19
Price to Sales Ratio 1.66
Price to Book Ratio 0.82
Price to Cash Flow Ratio 2.52
Enterprise Value to EBITDA 11.73
Enterprise Value to Sales 1.34
Total Debt to Enterprise Value 0.24
Efficiency
Total Asset Turnover r 0.04
Capital Structure
Total Debt to Total Equity 14.48
Total Debt to Total Capital 12.65
Total Debt to Total Assets 1.07
Profitability
Operating Margin 9.94
Net Margin 7.17
Return on Assets 0.27
Return on Equity 3.49
Return on Total Capital 2.94
Return on Invested Capital 3.13
Market Share (Deposits):
Stock Chart (6 Month):
RENT ROLL
Lease Term Rental Rates
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Tenant Square Feet
% of Property Begin End Begin Annually Recovery Type
Colonial 3,750 100.00% 12/31/15 12/31/22 Current $65,000 NNN
2016 $65,975
2017 $66,965
Tenant has two (2) – five (5) year options: 2018 $67,969
2019 $68,989
TOTALS / AVERAGES 3,750
OCCUPIED SF 3,750 100.00%
VACANT SF 0 0.00%
TOTAL SF 3,750 100.00%
2020 $70,023
2021 $71,074
2022 $72,140
CONFIDENTIALITY AGREEMENT
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to
be reviewed only by the party receiving it from Sands Investment Group and should not be made available to any other person or entity without the written consent of Sands Investment Group.
This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial
performance of the property, the size and square footage of the property and improvements, the presence or absence
of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s
plans or intentions to continue its occupancy of the subject property.
The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable;
however, Sands Investment Group has not verified, and will not verify, any of the information contained herein, nor has
Sands Investment Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers
must take appropriate measures to verify all of the information set forth herein.
By receipt of this Memorandum, you agree that this Memorandum and its contents are of confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose its contents in any manner detrimental to the interest of the Owner. You also agree that by accepting this Memorandum you agree to release Sands Investment Group and hold it harmless from any kind of claim, cost, expense, or liability arising out of
your investigation and/or purchase of this property.
SANDS INVESTMENT GROUP | 844.4.SIG.NNN | WWW.SIGNNN.COM
John Cigliano Lic #01944544
+1 310.774.3719 | DIRECT
Max Freedman Lic #01875150
+1 818.625.3521 | DIRECT
Adam Scherr Lic #01925644
+1 310.774.3756 | DIRECT
Exclusively Marketed by
844.4.SIG.NNN | F: 844.328.5905 | WWW.SIGNNN.COM | 2701 OCEAN PARK BLVD, SUITE 140 | SANTA MONICA, CA 90405
In Cooperation with Housepad, LLP - License No: 0894087
Broker of Record: Ken Gehris
NJ Broker License No. 0678230