brockman bang realty firm license - loopnet · 2019-02-04 · ben hamd direct: 202.525.8991 office:...

Brian Brockman (broker of record): 343847Bang Realty Firm License #: 263907

INVESTMENT HIGHLIGHTS

BEN HAMDDirect: 202.525.8991Office: 540.525.8991Email: ben@brookwoodcapitaladv.comwww.brookwoodcapitaladv.com

100% occupied center - outparcel to Bass Pro Shop

$326,737 NOI

Brand new roof in 2013 with transferable warranty in place

Strong regional and national tenants

Excellent visibility from interstate, Sycamore, and Macon road with a Sycamore, and Macon road with a combined 176,276 vehicles per day

High density area, 200,000+ people in a 5 mile radius

Recent lease extensions and strong his-torical occupancy. 60% of tenants have occupied center for more than ten years

Limited tenant turnover, 60% of tenants have occupied center for ten plus years

Professionally managed allowing absentee ownership

Mix of retail, service, and office tenants

OPERATING EXPENSES

BEN HAMDDirect: 202.525.8991Office: 540.525.8991Email: ben@brookwoodcapitaladv.comwww.brookwoodcapitaladv.com

Price: $2,722,808 | Cap Rate: 12%

Net Operating Income: $326,737

Occupancy: 100% | Square Footage: 32,090

Roof Age: 5 years - new roof in 2013

Utilities $10,200Landscaping $3,000Grass Cutting $1,800 | Irrigation $600

Tree Trimming $300 | Seasonal Color $300

Snow Removal $700Parking Lot Maintenance $2,700Asphalt Repair $1,000 | Pressure Wash $700Asphalt Repair $1,000 | Pressure Wash $700

Sweeping $1,000

Lighting Maintenance $1,000Parking Lot Light Repairs (budget) $1,000

HVAC Contract $1,500Annual Maintenance (Quarterly) $1500

Garbage Removal $1,200Maintenance Cam Misc $1,200Maintenance Cam Misc $1,200Pest Control (Quarterly) $1,000

BEN HAMDDirect: 202.525.8991Office: 540.525.8991Email: ben@brookwoodcapitaladv.comwww.brookwoodcapitaladv.com

Yarbrough’s Music is a retail music store and a commercial service provider of equipment, sound studio items, lighting and pro audio. Yarbrough’s sells equipment, as well as services music studios throughout the mid south. The company recently celebrated it’s 45th anniversary in business serving professional and amatuer musicians for all their instruments, equipment, and music needs. The company recently executed a seven year extension extending their term to 2027.

YARBROUGH’S MUSIC

LEASE SUMMARYGuarantor: Corporate | Lease Commencement: 9/1/2000 | Lease Termination: 10/31/2027CAM: Tenant is a gross lease and does not pay any CAM reimbursementsReal Estate Taxes: Tenant is a gross lease and does not pay any reimbursementsInsurance: Tenant is a gross lease and does not pay any reimbursementsManagement: Tenant is a gross lease and does not pay any reimbursements

• 45 years in business• Serving the mid south professional and amatuer musician• Staple in the Memphis music industry• Website: https://www.yarbroughsmusic.com/

BEN HAMDDirect: 202.525.8991Office: 540.525.8991Email: ben@brookwoodcapitaladv.comwww.brookwoodcapitaladv.com

Signature Coalition is the parent company of JD’s Wings and Seafood Cafe. The company owns and operates five restaurants throughout the Memphis area with a focus on fast casual wings and family favorites. Signature Coalition Group’s partners are all proud veterans of the US Navy and operate their business with the same dedication they put into their careers serving the USA.

JD’S WINGS & SEAFOOD CAFESIGNATURE COALITION GROUP

LEASE SUMMARYGuarantor: Corporate | Lease Commencement: 1/1/2019 | Lease Termination: 12/31/2029CAM: Tenant is a gross lease and does not pay any CAM reimbursementsReal Estate Taxes: Tenant is a gross lease and does not pay any reimbursementsInsurance: Tenant is a gross lease and does not pay any reimbursementsManagement: Tenant is a gross lease and does not pay any reimbursements

• 5 locations• 50-80 Employees• Website: https://www.jdswings2go.com/• Website: https://www.signaturecoalitiongroup.com/

BEN HAMDDirect: 202.525.8991Office: 540.525.8991Email: ben@brookwoodcapitaladv.comwww.brookwoodcapitaladv.com

Soka Gakkai International is a non-profit Buddhist organization with over five hundred chapters throughout the USA. SGI utilizes the core Buddhist beliefs of community, dignity of human life, interconnectedness, and human rights education. SGI USA focuses on continuing the mission of SGI International in the USA.

SOKA GAKKAI INTERNATIONAL

LEASE SUMMARYGuarantor International non-governmental organizationLease commencement: 3/1/2009 | Lease Termination: 8/31/2020CAM: Tenant pays 9.82% of the common area maintenance costsReal Estate Taxes: Tenant pays 9.82% of the real estate taxesInsurance: Tenant pays 9.82% of the insurance costsManagement: Tenant pays 9.82% of the management costsManagement: Tenant pays 9.82% of the management costs

• 500 locations across the USA• International non-governmental organization recognized by UNESCO since 1983• Website: http://www.sgi-usa.org/

BEN HAMDDirect: 202.525.8991Office: 540.525.8991Email: ben@brookwoodcapitaladv.comwww.brookwoodcapitaladv.com

Draper’s Catering is one of Memphis’s premier catering company serving corporate, personal and wedding clientelle throughout the mid south. They are consistently ranked as one of the best caterers in Memphis for their quality, consistency, and professionalism. The family owned business is diversified, as they own Wellfit Medicine and nutrition, as well as Metabolic Crossfit. Drapers has been a tenant at the center for over 20 years. The center is ideally located for them because of the strong visibility on I-40, Sycamore, and Macon as well as the central location. Drapers has a full commercial kitchen on site. Lease renewal negotiations are underway.

DRAPER’S CATERING

LEASE SUMMARY (*Lease renewal negotiations underway)Guarantor: Corporate/Personal | Lease Commencement: 7/1/2000 | Lease Termination: 6/30/2019 CAM: Tenant pays 12.67% of CAM expensesReal Estate Taxes: Tenant pays 12.67% of real estate taxesInsurance: Tenant pays 12.67% of insurance expensesManagement: Tenant pays 12.67% of management expenses

• 1 Location • Been in business for over 25 years• Family owned business with investments in the private medical clinic - Wellfit Medicine• Owners also owns Metabolic Crossfit - Memphis premier crossfit gym• Website: http://www.draperscatering.com/

BEN HAMDDirect: 202.525.8991Office: 540.525.8991Email: ben@brookwoodcapitaladv.comwww.brookwoodcapitaladv.com

Tuff Shed Inc. is a national shed retailer. The company designs, builds, and installs home and commercial storage sheds throughout the USA. The company has over 950 retail locations throughout the USA. Tuff Shed selected this location for it’s prime visibility with almost 180,000 vehicles per day passing its sheds and design center.

TUFF SHED INC.

LEASE SUMMARYGuarantor: Corporate | Lease Commencement: 10/15/2017 | Lease Termination: 12/31/2022CAM: Tenant pays 10.98% of the common area maintenance costsReal Estate Taxes: Tenant pays 10.98% of the real estate taxesInsurance: Tenant pays 10.98% of the insurance expenseManagement: Tenant pays 10.98% of the management costs

• Almost 1,000 locations throughout the USA• Attracted to site because of the high visibility, and vehicles per day• Corporate design center allowing customers to design their own sheds on premises• Website: https://www.tuffshed.com

BEN HAMDDirect: 202.525.8991Office: 540.525.8991Email: ben@brookwoodcapitaladv.comwww.brookwoodcapitaladv.com

Lifestyles Solutions is Dr. Charmin Thomas’s registered dietician services and weight loss coach. She has occupied the center for over 10 years and provides dietician services, weight loss coaching, and general wellness checkups.

LIFESTYLES SOLUTIONS

LEASE SUMMARYGuarantor: Corporate/PersonalLease Commencement: 3/1/2019Lease Termination: 3/31/2022CAM: Tenant pays 3.41% of the common area maintenance costsReal Estate Taxes: Tenant pays 3.41% of the real estate taxesInsurance: Tenant pays 3.41% of the insurance expenseInsurance: Tenant pays 3.41% of the insurance expenseManagement: Tenant pays 3.41% of the management costs

BEN HAMDDirect: 202.525.8991Office: 540.525.8991Email: ben@brookwoodcapitaladv.comwww.brookwoodcapitaladv.com

DEMOGRAPHICS & NEARBY BUSINESS

PopulationHouseholds

Average HH Income

BEN HAMDDirect: 202.525.8991

Office: 540.525.8991

Email: ben@brookwoodcapitaladv.com

www.brookwoodcapitaladv.com

The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used

for any other purpose. The only party authorized to repre-sent the Property Owner (“Owner”) in connection with the sale of the Property is the

Brookwood Capital Advisors and the broker of record listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any Brookwood Capital Advisors and the broker of record listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any

representations other than contained in this Investment Offering Brochure. Neither the Investment Associate nor the Owner make any representation or warranty,

express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or

representa- tion as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by Brookwood Capital Advisors with

respect to the projected future performance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such respect to the projected future performance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such

estimates will be achieved. Further, the Investment Associate and the Owner disclaim any and all liability for representations or warranties, expressed or implied, con-

tained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. To the extent

Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as

binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.Brian Brockman (broker of record): 343847Bang Realty Firm License #: 263907