goodyear offering memorandum - · pdf filegoodyear is one of the most recognized brand names...

G O O D Y E A R , C A R R O L LT O N , T X | 1Representative Photo

Goodyear1 5 2 0 W . H e b r o n P k w y | C a r r o l l t o n , T X

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O F F E R I N G M E M O R A N D U M

2 | O F F E R I N G M E M O R A N D U M2 | M a t t h e w s R e t a i l A d v i s o r s Representative Photo

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E X E C U T I V E S U M M A R Y

f i n a n c i a l O V E R V I E W

p r o p e r t y O V E R V I E W

t e n a n t o v e r v i e w

Representative Photo

Associate

chr istopher. [email protected] (214) 692-2921MOB (858) 414-7849LIC # 677086 (TX)

c h r i s t o p h e r l a s k e r o

b r a d e n c r o c k e t t

Associate VP & Director

[email protected] (214) 692-2040MOB (714) 345-6206LIC # 01946071 (CA)

KYLE MATTHEWSBroker of Record

Lic # 9005919

1 2 a r e a O V E R V I E W

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E X E C U T I V ES U M M A R Y



I n v e s t m e n t H i g h l i g h t s

Property Details

• Offered at an attractive 7.50% return• NN Leased Property – Limited Landlord Responsibilities• 1.4 Years Remaining with Six (6), Five (5) Year Options• ± $190,000 of guaranteed Cash Flow• Efficient 10-Bay Store Footprint – Allows tenant to maximize capacity while minimizing fixed costs• High-Quality Construction – Brick Building built new for Goodyear and commenced retail operations in 2004• Rent below market at only $18.97/SF• Jiffy Lube less than 0.1 miles away is paying $39.60/SF• Priced Below Replacement Cost at $223/SF – Estimated land value alone of $1,000,000

Location

• Property is Located on W. Hebron Pkwy., which Boasts Traffic Counts in excess of ± 30,000 ADT• Conveniently located less than 0.5 Mile away from of Hwy-121 which boasts over ± 139,000 ADT• Strong Demographics with over 290,000 people within a 5-Mile Radius• High Average Household Income Profile – Over $105,000 within a 1 & 3-Mile Radius• Strong Presence of Nearby Retail Tenants Include: CVS, 7-Eleven, Quick Trip, Bank of America, Taco Bueno, Chicken Express, Sonic

Drive-In, Dairy Queen, American Indoor Sports Facility, Burger King, Jiffy Lube, Christian Brothers Automotive, and many more

Tenant

• For the Fiscal Year of 2016, The Goodyear Tire & Rubber Company had a total annual revenue of $15.1 Billion• Proven Track record of corporate success with over 1,000 locations nationwide• Corporate Guaranteed Lease – 100% leased to the Goodyear Tire & Rubber Co.

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G o o d y e a r1520 W. Hebron PkwyCarrollton, TX 75010

List Price ...................................................................................................................$1,720,000

CAP Rate - Current ...........................................................................................................7.50%Gross Leasable Area ............................................................................................. ± 6,800 SF Lot Size .................................................................................................................± 0.99 Acres Year Built ..............................................................................................................................2004

Annualized Operating DataMonthly Rent Annual Rent Rent/SF Cap Rate

Current - 2/28/2019 $10,750 $129,000 $18.97 7.50%

Option 1 $11,130 $133,560 $19.64 7.77%

Option 2 $11,575 $138,900 $20.43 8.08%

Option 3 $12,040 $144,480 $21.25 8.40%

Option 4 $12,520 $150,240 $22.09 8.73%

Option 5 $13,000 $156,000 $22.94 9.07%

Option 6 $13,500 $162,000 $23.82 9.42%

Tenant Summary

Tenant Trade Name Goodyear

Type of Ownership Fee Simple

Lease Guarantor Corporate

Lease Type NN

Roof and Structure Landlord Responsible

Original Lease Term 15 Years

Lease Commencement Date 3/1/2004

Lease Expiration Date 2/28/2019

Term Remaining on Lease ± 1.50 Years

Increases 3.50% every 5 Years

Options Six, 5-Year Options

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Goodyear is one of the most recognized brand names in the tire industry. Goodyear is one of the world’s leading tire companies with operations in most regions of the world. Goodyear develops, manufactures, markets, and distributes tires for most applications. It also manufactures and markets rubber-related chemicals for various applications.

Goodyear is one of the world’s largest operators of commercial truck service and tire retreading centers. In its 1,240 tire and auto service center outlets nationwide it offers its products for retail sales and provides automotive repair and other services. Goodyear has marketing operations in almost every country around the world and manufactures its products in 48 facilities in 21 countries.

Goodyear recognition

Goodyear has been recognized by Fortune as the world’s most admired tiremaker in 2016, a recognition Goodyear has received for five straight years. Among companies in Fortune’s World’s Most Admired Companies, Motor Vehicle Parts category, Goodyear was also the Number 1 ranked US based company and ranked Number 2 overall. Goodyear finished ahead of its key global tire competitors in overall score and in seven of the nine categories.

innovation

Goodyear focuses heavily on product innovation and technological advances to enable them to create products and services that are valued and sought out by consumers, customers, and investors. This sets Goodyear apart from the competition by responding to the needs of an increasingly complex market. In 2015 alone, Goodyear was granted 669 new worldwide patents. Goodyear innovations have been a huge factor in the success of Goodyear. Goodyear continues to receive many awards for their innovations and was named a Thomson Reuters Top 100 Global Innovator company.

Company Name Goodyear Tire & Rubber Company

No. of Locations ± 1,100

No. of Employees ± 66,000

Headquartered Akron, OH

Website www.goodyear.com

Year Found 1898

Stock Symbol (NASDAQ) GT

Market Cap $8.17 B

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G O O D Y E A R , C A R R O L LT O N , T X | 1 1

t h e o f f e r i n g

Property Name Goodyear

Property Address 1520 W. Hebron Pkwy

Carrollton, TX 75010

Assessor’s Parcel Number R258403

Site DescriptionNumber of Stories OneYear Built 2004Gross Leasable Area (GLA) ± 6,800 SFLot Size ± 0.99 Acres (43,124 SF) Type of Ownership Fee SimpleParking ± 42 Surface Spaces

Parking Ratio 6.11 : 1000 SF

Landscaping Professional

Topography Generally Level

ConstructionFoundation Concrete Slab

Framing Brick

Exterior Brick

Parking Surface Asphalt

Roof Pitched

P a r c e l M a p

Sam Ra

ybur

n Tol

lway

± 47,0

00 AD

T

W Hebron pkwy ± 30,000 ADT


a r e a o v e r v i e w


C a r r o l lt o n , T X

Located in the heart of the Dallas-Fort Worth area, the city of Carrollton, is a vibrant corporate and residential community. The city's location and business cost advantages attract and support a diverse local economy with over 9,000 businesses calling Carrollton home. Residents are drawn to the city for its high quality of life, abundant parks, schools, and safe neighborhoods.

Carrollton is connected not only by transit options such as rail and highways; it is also connected in that family and friends feel rooted here. The city is connected to its past and history; it is connected to the Dallas- Fort Worth Metroplex.

Located 20 minutes from everything, including shopping, restaurants, nightlife, and proximity to major U.S. cities. In addition, it is convenient and easy to do business with the city, whether a resident or developer.


C a r r o l lt o n d e m o g r a p h i c s

POPULATION 1 Mile 3 Mile 5 Mile

2022 Projection 15,431 82,094 264,951

2017 Estimate 13,720 75,054 244,565

2010 Census 10,331 63,055 213,811

2000 Census 3,718 50,291 181,632

INCOME 1 Mile 3 Mile 5 Mile2017 Est. Average Household Income $110,301 $117,108 $98,990

HOUSEHOLDS 1 Mile 3 Mile 5 Mile

2022 Projection 5,675 30,534 102,572

2017 Estimate 5,067 27,915 94,593

2010 Census 3,856 23,375 82,415

2000 Census 1,309 18,412 69,187

POPULATION GROWTH 1 Mile 3 Mile 5 Mile

Percent Change: 2017 to 2022 12.47% 9.38% 8.34%



HOUSEHOLD GROWTH 1 Mile 3 Mile 5 Mile




a c c o l a d e s

• Ranked One of Best Places to Raise a Family - SmartAsset, 2017

• Ranked One of the Best Cities for First-Time Homebuyers - HubWallet, 2014

• Ranked #4 in Economic Development - Dallas Business Journal, 2014

• 50 Safest Cities in Texas - Safewise, 2013

• 3rd Best Place to Live in America - Areavibe, 2013

• Top 10 Cities for Young Families - NerdWallet, 2013

c o m p a n y h e a d q u a r t e r s i n c a r r o l lt o n

• FASTSIGNS International, Inc.

• Halliburton has North America operations for Easywell in Carrollton

• Heelys, Inc.

• Jokari

• Motel 6 (G6 Hospitality)

• Dymatize Corporation

• Parks Coffee / ProStar Services, Inc.

• Sleep Experts


S u r r o u n d i n g T E n a n t s


The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South, and fourth largest in the United States. It is a center for sporting events, tourism, and manufacturing. Dallas and its suburbs have one of the highest concentrations of corporate headquarters in the United States. Dallas is a center for corporate America. Because of its central location relative to the rest of the United States, Dallas is a popular convention site and site for many corporate headquarters and home to 21 Fortune 500 companies. Business management and operations is a major part of the economy. The Metroplex also contains the largest Information Technology industry base in the state. On the other end of the business spectrum, and on the other side of the Metroplex, the Texas farming and ranching industry is based in Fort Worth.

D A L L A S - F O R T W O R T H M S A E C O N O M Y

The central core of Dallas has experienced a steady and significant growth that speaks to its highly diversified economy. It has become a hub for real estate and business, establishing itself as one of the largest concentrations of corporate headquarters for publicly traded companies such as American Airlines, Neiman Marcus, Kimberly-Clark, JCPenney, ExxonMobil and many others. In 2015, Forbes reported that Dallas is “the best place for business and careers” in Texas. It’s the perfect blend of big city living and rustic southern charm.

The Dallas economy is expected to grow over the next couple of decades making it the perfect time to not only invest in Dallas real estate but also relocate. As the 9th largest city in the country, Dallas has something for everyone. It combines clashing images of the city skyline and cowboy vibes. Yet, the city of Dallas describes itself best with the motto: “Big Things Happen Here.”


S P O R T S

The City of Dallas and the Dallas metropolitan area is home to teams in six major sports: the Dallas Cowboys (National Football League), Dallas Mavericks (National Basketball Association), Texas Rangers (Major League Baseball), FC Dallas (Major League Soccer), Dallas Stars (National Hockey League), and Dallas Wings (Women's National Basketball Association). Dallas area major college sports programs include Patriots baseball of Dallas Baptist University located in southwest Dallas, and the Mustangs of Southern Methodist University, located in the enclave of University Park. Neighboring cities Fort Worth, Arlington, and Denton are home to the Texas Christian University Horned Frogs, University of Texas at Arlington Mavericks, and University of North Texas Mean Green, respectively.

E V E N T S

State Fair of Texas, which has been held annually at Fair Park since 1886. The fair is a massive event, bringing in an estimated $350 million to the city's economy annually. The Red River Shootout, which pits the University of Texas at Austin against The University of Oklahoma at the Cotton Bowl also brings significant crowds to the city. The city also hosts the State Fair Classic and Heart of Dallas Bowl at the Cotton Bowl. Other well-known festivals in the area include several Cinco de Mayo celebrations hosted by the city's large Mexican American population, and Saint Patrick's Day parade along Lower Greenville Avenue, Juneteenth festivities, Taste of Dallas, the Deep Ellum Arts Festival, the Greek Food Festival of Dallas, and the annual Halloween event "The Wake" featuring lots of local art and music.

P A R K S

Dallas maintains and operates 406 parks on 21,000 acres of parkland. The city's parks contain 17 separate lakes, including White Rock and Bachman lakes, spanning a total of 4,400 acres. In addition, Dallas is traversed by 61.6 miles of biking and jogging trails, including the Katy Trail, and is home to 47 community and neighborhood recreation centers, 276 sports fields, 60 swimming pools, 232 playgrounds, 173 basketball courts, 112 volleyball courts, 126 play slabs, 258 neighborhood tennis courts, 258 picnic areas, six 18-hole golf courses, two driving ranges, and 477 athletic fields.

This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Goodyear located at 1520 W. Hebron Pkwy, Carrollton, TX 75010 (“Property”) . I t has been prepared by Matthews Retai l Advisors. This Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. The informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the Property. I t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews Retai l Advisors. The mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. Prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the Property, you agree:

1 . The Offer ing Memorandum and i ts contents are conf ident ia l ;

2 . You wi l l hold i t and treat i t in the str ictest of conf idence; and

3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion ormanner detr imental to the interest of the Sel ler.

Owner and Matthews Retai l Advisors expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the Property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the Property unless and unt i l a wr i t ten agreement for the purchase and sale of the Property has been ful ly executed and del ivered.

I f you wish not to pursue negot iat ions leading to the acquis i t ion of the Property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is Property including this Offer ing Memorandum.

A prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the Property, or informat ion provided herein or in connect ion with the sale of the Property shal l be l imited to those expressly provided in an executed Purchase Agreement and shal l be subject to the terms thereof. In no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews Retai l Advisors or any of their af f i l iates or any of their respect ive of f icers , Directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the Property.

This Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the Property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the Property s ince the date this Offer ing Memorandum.

C O N F I D E N T I A L I T Y & D I S C L A I M E R S TAT E M E N T


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Goodyear1 5 2 0 W . H e b r o n P k w y | C a r r o l l t o n , T X

Associate

chr istopher. [email protected] (214) 692-2921MOB (858) 414-7849LIC # 677086 (TX)

c h r i s t o p h e r l a s k e r o

b r a d e n c r o c k e t t

Associate VP & Director

[email protected] (214) 692-2040MOB (714) 345-6206LIC # 01946071 (CA)

KYLE MATTHEWSBroker of Record

Lic # 9005919

™

11-2-2015

TYPES OF REAL ESTATE LICENSE HOLDERS: A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker’s own interests; Inform the client of any material information about the property or transaction received by the broker; Answer the client’s questions and present any offer to or counter-offer from the client; and Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary: Must treat all parties to the transaction impartially and fairly; May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and

buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. Must not, unless specifically authorized in writing to do so by the party, disclose:

ᴑ that the owner will accept a price less than the written asking price;ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; andᴑ any confidential information or any other information that a party specifically instructs the broker in writing not to

disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker’s duties and responsibilities to you, and your obligations under the representation agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Information About Brokerage Services Texas law requires all real estate license holders to give the following information about

brokerage services to prospective buyers, tenants, sellers and landlords.

.

Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/Associate

License No. Email Phone

Licensed Broker /Broker Firm Name or Primary Assumed Business Name

License No. Email Phone

Regulated by the Texas Real Estate Commission Information available at www.trec.texas.govIABS 1-0

DateBuyer/Tenant/Seller/Landlord Initials

Sales Agent/Associate’s Name License No. Email Phone

Kyle Matthews 678067 [email protected] 866-889-0550

Kyle Matthews

Kyle Matthews

678067

678067

[email protected]

[email protected]

866-889-0550

866-889-0550

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