857 e warner rd gilbert, az 85296

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857 E WARNER RD GILBERT, AZ 85296 TAYLOR STREET REAL ESTATE ADVSORS OFFERING MEMORANDUM JACOB BARATZ Vice President of Retail [email protected] 602-603-9752 BRENDAN JOST Investment Advisor [email protected] 602-603-9757 BOSTON CHAUTHANI Investment Advisor [email protected] 602-603-9768 THE SHOPS AT Lindsay

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Page 1: 857 E WARNER RD GILBERT, AZ 85296

857 E WARNER RDGILBERT, AZ 85296

TAYLOR STREETREAL ESTATE ADVSORS

OFFERING MEMORANDUM

JACOB BARATZ Vice President of [email protected]

BRENDAN JOST Investment [email protected]

BOSTON CHAUTHANIInvestment [email protected]

THE SHOPS AT Lindsay

Page 2: 857 E WARNER RD GILBERT, AZ 85296

WalgreensTown Commons

306 Class B Apartments

Broadstone Gilbert Heritage

256 Class A Apartments

Avilla Town Square150 Class A Apartments

AER

IAL

PHO

TOSHOPS AT LINDSAY 857 E WARNER RD | GILBERT, AZ 85296

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WARNER RD WARNER RD WARNER RD

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LOOP - 202

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LSHOPS AT LINDSAY 857 E WARNER RD | GILBERT, AZ 85296

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LINDSAY RD (26,500+ VPD)

Page 4: 857 E WARNER RD GILBERT, AZ 85296

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LSHOPS AT LINDSAY 857 E WARNER RD | GILBERT, AZ 85296

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LINDSAY RD (26,500+ VPD)WARNER RD (27,000+ VPD)

Page 5: 857 E WARNER RD GILBERT, AZ 85296

SUITE NUMBER

TENANT NAME

APPROXRENT SF

PERCENT OCCUPANCY

LEASECOMMENCE

LEASEEXPIRATION

RENTALINCREASES

RENEWALOPTIONS

APPROX RENT/SF

BASERENT/MO

ANNUAL RENT

1 Dunkin’ Donuts 2,039 40% 6/20/2018 6/19/2028 3% Annually One (1) , Five (5) Year $39.67 $6,740 $80,877

2 Stott Dentistry 1,380 28% 2/7/2014 6/30/2021 3% Annually One (1), Five (5) Year $17.45 $2,007 $24,081

3 Michael’s Pizza 1,592 32% 9/1/2017 8/11/2022 3% Annually Two (2), Five (5) Year $18.54 $2,460 $29,516

TOTALS / AVERAGES 5,011 100% $26.84 $11,206 $134,474

RENT ROLL SUMMARY

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RYSHOPS AT LINDSAY 857 E WARNER RD | GILBERT, AZ 85296

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Page 6: 857 E WARNER RD GILBERT, AZ 85296

Year Built 2008

Parcel Number 304-25-920

Parcel Size +/- 0.97 Acres

Total Square Feet Per Leases 5,011

Occupancy as of June 2018 100%

INCOME

Scheduled Potential Base Rent $134,474

Est. Total Potential Base Rent $134,474

Plus Expense Reimbursements $30,993

GROSS POTENTIAL INCOME $165,467

EFFECTIVE GROSS INCOME $165,467

OPERATING EXPENSES

CAM Expense $15,645

Property Taxes $12,789

Insurance $1,389

TOTAL OPERATION EXPENSES $29,823

NET OPERATING INCOME $135,644

OFFERING PRICE $2,260,000

CAPITALIZATION RATE 6.00%

PRICE PER SQUARE FOOT $451

Stott Family & Cosmetic Dentistry is a local dentist office

owned and operated by Dr. Eldon Stott. This office has been

providing great service to the Gilbert area since 2000, and has

a friendly staff who are fluent in both English and Spanish.

Michael’s Pizza is a local family owned Pizzeria with 12 years of

experience. Michael’s has become a local favorite for great piz-

za among residents of the Gilbert community.

DUNKIN’ DONUTS - FIRST CUP, LLC

STOTT FAMILY & COSMETIC DENTISTRY

MICHAEL’S PIZZA

StottDENTAL

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RYSHOPS AT LINDSAY 857 E WARNER RD | GILBERT, AZ 85296

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INVESTMENT SUMMARY TENANTS

First Cup is a 60+ unit franchisee operator based in Chandler,

AZ. They are the largest Dunkin’ Donuts Franchisee West of the

Mississippi, and independently operate locations in 4 states

including Arizona, Nevada, California, and Colorado.

Page 7: 857 E WARNER RD GILBERT, AZ 85296

The Shops at Lindsay is a Multi-tenant retail strip center property located in Gilbert, Arizona. The property is Anchored by a drive thru Dunkin’ Donuts, and is a B outparcel to an Albertsons anchored center situated on the busy intersection of S Lind-say Rd & E Warner Rd. This Albertsons is the only location in Gilbert and has recently put $4M+ toward interior renovation, showing dedication to the site. The subject property is located one intersection East from a large Target anchored center, Fry’s Food and Drug, and many other national tenants.

• Dunkin’ Donuts recently extended lease term to 10+ Years, proving com-mitment to the site

• Lease Guaranteed by First Cup (Largest Dunkin’ franchisee west of the Mis-sissippi - operating 60+ locations in 4 states)

• One of the top performing Dunkin Donuts locations in Phoenix Metro

• Favorable tenant rollover – no leases expiring before June 2021

• Prime outparcel location to recently renovated Albertsons (at a cost of ap-prox. $4M) anchored center on signalized corner of Lindsay & Warner

• Located in close proximity to a wide array of national tenants (Target, Fry’s Food & Drug, Ross Dress for Less, Petco, Goodwill, Home Depot, Chase Bank, Starbucks, McDonald’s, Denny’s, 7-Eleven, etc.)

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WSHOPS AT LINDSAY 857 E WARNER RD | GILBERT, AZ 85296

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PROPERTY DESCRIPTION

INVESTMENT HIGHLIGHTS

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SHOPS AT LINDSAY 857 E WARNER RD | GILBERT, AZ 85296

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GILBERT | ARIZONAAs part of the Phoenix MSA, Gilbert, Arizona has evolved into one of the fastest growing communities and the largest town in the United States. Encompassing 72.6 square miles, just southeast of Phoenix, Gilbert has transformed from an agricultur-al community to a thriving and economically-diverse suburban community. Gilbert’s booming housing industry is coupled with booming business. With a targeted focus in the Science, Technology, Engineering and Math industries, Gilbert is home to many companies with focuses in Advanced Manufacturing, Aerospace and Defense, Bio-Technology, Clean Technology and Renewable Energy.

Page 9: 857 E WARNER RD GILBERT, AZ 85296

1 Mile 3 Mile 5 Mile

Projected 2023 15,213 135,260 343,699

Current 2018 14,528 125,966 319,195

1 Mile 3 Mile 5 Mile

2018 Households 4,867 43,413 109,673

2018-2023 Growth 6.88% 7.47% 7.68%

Median HH Income $93,824 $88,902 $77,364

HOUSEHOLDS

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SHOPS AT LINDSAY 857 E WARNER RD | GILBERT, AZ 85296

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DEMOGRAPHICSGilbert boasts a nationally ranked K-12 education system including public schools, unique magnet and charter schools, with an average graduation rate of 90%. Nearly 40% of Gilbert residents hold a bachelor’s degree or higher and the medi-an household income is $80,080. As Gilbert approaches build-out over the next decade, the estimated population is expected to reach 330,000. With a continued focus on building the latest satellites, conducting cancer research and producing algae technology, Gilbert will continue to grow and thrive and uphold its reputa-tion as being clean, safe and vibrant.

POPULATION

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CONFIDENTIALITY & DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiv-ing it from Taylor Street Real Estate Advisors and should not be made available to any other person or entity without the written consent of Taylor Street Real Estate Advisors. This Marketing Brochure has been prepared to provide summary, unverified information to pro-spective 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. Taylor Street Real Estate Advisors has not made any 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 informa-tion contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Taylor Street Real Estate Advisors has not veri-fied, and will not verify, any of the information contained herein, nor has Taylor Street Real Estate Advisors conducted any investigation regarding these mat-ters 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.

NON ENDORSEMENT NOTICETaylor Street Real Estate Advisors (“TSREA”) is not affiliated with, spon¬sored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corpora-tion of TSREA, its affiliates or subsidiar¬ies, or any agent, product, service, or commercial listing of TSREA, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT JAKE BARATZ, BRENDAN JOST, OR BOSTON CHAUTHANI FOR MORE DETAILS.

www.taylorstadvisors.com

Page 11: 857 E WARNER RD GILBERT, AZ 85296

857 E WARNER RDGILBERT, AZ 85296

TAYLOR STREETREAL ESTATE ADVSORS

OFFERING MEMORANDUM

JACOB BARATZ Vice President of [email protected]

BRENDAN JOST Investment [email protected]

BOSTON CHAUTHANIInvestment [email protected]

THE SHOPS AT Lindsay