gsa - single tenant investment offering

7991 South Redwood RoadInvestment Sale

GSA - SINGLE TENANT INVESTMENT OFFERING

Colliers International6550 S Millrock Dr | Suite 200

Salt Lake City, UT 84121P: +1 801 947 8300

+1 801 837 [email protected]

Sky Hazlehurst+1 801 309 [email protected]

Brad Brown

COLLIERS INTERNATIONAL P. 2GSA - Single Tenant Investment Offering

7991 SOUTH REDWOOD RD

ACCELERATING SUCCESS

Table of Contents

> Executive Summary ..................................................................3Investment Overview ........................................................................................... 4

Tenant Overview .................................................................................................. 5

Neighborhood Overview ...................................................................................... 6

SLC International Airport ......................................................................................7

Why Utah? ............................................................................................................ 8

> Property Overview ....................................................................9Region Map .........................................................................................................10

Tenant Aerial ........................................................................................................11

> Property Photos ...................................................................... 167991 South Redwood Rd. ................................................................................... 17

COLLIERS INTERNATIONALACCELERATING SUCCESS

7991 South Redwood Road - Investment SaleGSA - SINGLE TENANT INVESTMENT OFFERING

> Executive Summary




ExEcutivE Summary

Investment Overview> PrOPErty DEScriPtiON

The GSA-MSHA Investment Offering is a newly-signed single tenant lease with the GSA. With the Federal Government as a tenant, there isn’t a better credit tenant out there -- this is the only tenant that prints its own money. There is a 10 year Firm Term that was just signed, with a 10% bump on shell rent at year five.

This is a great lease at a great property. While the average staying time for GSA Lease is over 30 years, if need be, this property would be well-suited for re-tenanting. It is on a lit intersection on Redwood Road with Average Daily Traffic in excess of 40,000 cars per day. It is shadow anchored by Vasa Fitness, Walgreens, and CVS and it sits directly adjacent to a UTA bus stop.

> iNvEStmENt HiGHLiGHtS

• 3,520 SF building with former drive-thru• 0.50 acre parcel• 30 parking stalls• Fresh 10 year Primary Term Lease with Options• Lease is full-service• Strong retail location• National average GSA lease length: 30 years

8020 SOutHRedw

ood Rd. - 40,000 ADT

caP ratEPricE PEr SQuarE FOOt

SaLES PricE: aNNuaL NEt OPEratiNG iNcOmE




ExEcutivE Summary

Tenant Overview> GENEraL SErvicES aDmiNiStratiON (GSa)The property is currently fully occupied by the General Services Administration (GSA), the leasing agency for the United States Federal Government, leasing on behalf of the Mine Safety and Health Administration (MSHA). There is no better credit available.

A GSA lease is fully guaranteed by the United States of America. The Federal Government has a perfect track record of rent payments.

MSHA is an agency of the United States Department of Labor which administers the provisions of the Federal Mine Safety and Health Act of 1977 (Mine Act) to enforce compliance with mandatory safety and health standards as a means to eliminate fatal accidents, to reduce the frequency and severity of nonfatal accidents, to minimize health hazards, and to promote improved safety and health conditions in the nation’s mines.[2] MSHA carries out the mandates of the Mine Act at all mining and mineral processing operations in the United States, regardless of size, number of employees, commodity mined, or method of extraction

Neighborhood Overview> SaLt LaKE cOuNtySalt Lake County, Utah is the largest County in the state having a population of 1.11M people with a median age of 32.3 and a median household income of $65,694. Between 2014 and 2015 the population grew from 1.09M to 1.11M, a 1.43% increase.

The median property value in Salt Lake County, UT is $256,800, and the home ownership rate is 65.6%. Most people in Salt Lake County, UT commute by driving, and the average commute time is 20.8 minutes. The average car ownership in Salt Lake County, UT is 2 cars per household.

The economy of Salt Lake County, Utah employs 563,382 people. The most common job groups by number of people are Management, Business, Science, & Arts, Sales & Office, and Service. Compared to other counties, Salt Lake County has an unusually high number of residents working in Production; Administrative; and Life, Physical, & Social Science.

The Utah Transit Authority operates public bus and rail service throughout Salt Lake County and beyond to the entire Wasatch Front. The light rail system, known as TRAX, currently has three lines. The Blue Line runs from Downtown Salt Lake City to Draper, the Red Line from South Jordan to the University of Utah, and the Green Line from West Valley City to the Salt Lake City International Airport (via Downtown Salt Lake City). There are currently 50 stops in the system. The FrontRunner commuter rail line provides all-day service to Ogden on the north and Provo on the south.




ExEcutivE Summary

SLC International Airport> tHE NEW SaLt LaKE city iNtErNatiONaL airPOrtSalt Lake City has grown into a hub airport with many flights arriving and departing around the same time. Security needs are vastly different and buildings that meet earthquake safety standards are required. The existing facilities have served passengers well but it’s time to make way for the next generation of airport design. Here are some highlights of:

• Replace Obsolete Facilities: Today’s facilities are not efficient for use as a modern hub airport and are not built to today’s earthquake standards.

• Flexible, Right-Sized Design for the Future: The new facility will be designated to meet Salt Lake City’s needs for decades and be adaptable to the constantly changing aviation industry.

• More Efficient: The new terminal will eliminate airplane parking bottlenecks and allow airlines to get planes back in the air more quickly, meaning fewer delays for passengers.

• Remain Cost-Competitive: SLC is one of the nation’s most cost-efficient airports for airline operations and replacing aging facilities will help keep costs low. The program is funded by federal grants, user fees, airport revenue bonds and airport reserves. No local tax dollars will be used for the airport redevelopment program.

• Maintain Partnership with Airlines: The SLC International Airport has a great partnership with the airlines that serve SLC. Delta Air Lines, the airport’s largest user, is supportive of the terminal redevelopment program, as are other airlines.

• Construction on the $3 billion plus program began in July 2014 and will continue in phases through 2023/2024. The parking garage, terminal building and west portions of the north and south concourses will be completed in 2020.




ExEcutivE Summary

Why Utah?> utaH tOP raNKS

• Utah is a national leader in job growth, unemployment, low cost of doing business, and talented labor. Utah regularly tops rankings for best states for business, careers, living, health, and quality of life.

• Utah Named #10 Among Best Places to Live - U.S. News and World Report

• Utah Ranked #3 Best Economy - WalletHub

• Salt Lake Among Top 15 Cities Where Millennials are Moving - Time Magazine

• Salt Lake City (and the Wasatch Front) Ranked #1 Among Cities Poised to Become Tomorrow’s Tech Meccas - Forbes

• Two Utah Cities (Provo-Orem and Logan) Voted among the Best in America for “Successful Aging” - Milken Institute

• America’s 25 Best Cities For Young Professionals in 2017 - Forbes

• Salt Lake City Named #1 City Where Young People Want to Be - realtor.com

• Utah the Best Place in the Country to Find a Job - U.S. News

• Utah Tops the List of Happiest States in America 2016 - WalletHub

> utaH tOP EmPLOyErS (2016)• Intermountain Healthcare

• University of Utah

• State of Utah

• Brigham Young University

• Wal-Mart

• Hill Air Force Base

• Utah State University

• Davis County School District

• Granite School District

• Smith’s Food and Drug



> Property Overview




PrOPErty OvErviEW

Region Map

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Copyright:© 2014 Esri

0 3.5 7Miles

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.

This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2018. All rights reserved.Produced by: brandon.dalton | SL County 5/4/2018

111 S. Main St.Suite 2200Salt Lake City, UT 84111

+1 801 441 5937colliers.com

SITE




PrOPErty OvErviEW

Aerial

Jordan Square Shopping Center

City Hall

3rd District Court

School District

Redwood Rd. - 40,000 ADT

7800 South - 25,000 ADT33,000 ADT

500’

4 mins / 1.7 miles

Future Pad Development Underway



> Property Photos




PrOPErty PHOtOS

7991 South Redwood Rd.

Station

Redwood Rd. - 40,000 ADT

7991 South Redwood RoadInvestment Sale

GSA - SINGLE TENANT INVESTMENT OFFERING

Colliers International6550 S Millrock Dr | Suite 200

Salt Lake City, UT 84121P: +1 801 947 8300

+1 801 837 [email protected]

Sky Hazlehurst+1 801 309 [email protected]

Brad Brown

gsa - single tenant investment offering

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