home depot - amazon s3 · 2018. 7. 19. · supplies, garden products, tools, paint, and appliances....

1919 Wells Road | Orange Park (Jacksonville), Florida

NET LEASED RETAIL PROPERTY FOR SALE AT AucTION

hOmE DEPOT

http://www.auction.com/Florida/commercial-auction-asset/193012613-7766-1919-Wells-Road-ORANGE-PARK-FL-32037-B126

TRANSWESTERN chIcAGO200 West madison StreetSuite 3300chicago, IL 60606

Marc Imremmanaging [email protected]

Andrew Watsonmanaging [email protected]

Victor GarciaAuction.com#SL3213205Florida Licensed Broker

3HOME DEPOT | 1919 Wells Rd.

Confidentiality & ConditionsTranswestern (the “Agent”) has been engaged as the exclusive agent for the sale of Home Depot at 1919 Wells Road in Orange Park, Florida (the “Property”), by the Owner (the “Seller”). The Property is being offered for sale in an “as-is, where-is” condition and the Seller and the Agent make no representations or warranties as to the accuracy of the information contained in this information package. The enclosed materials include highly confi-dential information and are being furnished solely for the purpose of review by prospective Purchasers of the interest described herein. Neither the enclosed materials, nor any information contained herein, are to be used for any other purpose, or made available to any other person without the express written consent of the Seller. Each recipient, as a prerequisite to receiving the enclosed information, should be registered with Transwestern as a “Registered Potential Investor” or as “Buyer’s Agent” for an identified “Registered Potential Investor”. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the confiden-tiality agreement furnished by the Agent prior to delivery of this information package. The enclosed materials are being provided solely to facilitate the prospective investor’s own due diligence for which it shall be fully and solely responsible. The material contained herein is based on information and sources deemed to be reliable, but no representa-tion or warranty, express or implied, is being made by the Agent or the Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners or directors, as to the accuracy or completeness of the information contained herein. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained herein, or any other written or oral communications, or information transmitted, or made available, or any action taken, or decision made by the recipient with respect to the Property. Interested parties are to make their investigations, projections and conclusions without reliance upon the material contained herein. The Seller reserves the right, at its sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. The Seller and the Agent each expressly

reserve the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time, with or without notice. This Offering Memorandum is made subject to omissions, corrections or errors, change of price or other terms and prior sale or withdrawal from the market without notice. The Agent is not authorized to make any representations or agreements on behalf of the Seller. The Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigation and/or making an offer to purchase the Property unless and until a binding written agreement for the purchase of the Property has been fully executed, delivered and approved by the Seller and any conditions to the Seller’s obligations there under have been satisfied or waived. By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents are of a highly confidential nature and will be held and treated in the strictest confidence and shall be returned to the Agent or the Seller promptly upon request; and (b) the recipient shall not contact employees or tenants of the Property directly or indirectly regarding any aspect of the enclosed materials or the Property without the prior written approval of the Seller or the Agent; and (c) no portion of the enclosed materials may be copied or otherwise reproduced without the prior written authorization of the Seller or the Agent or as otherwise provided in the Confidenti-ality and/or Registration Agreement executed and delivered by the recipient(s) to Transwestern. The Seller will be responsible for any commission due the Agent in connection with a sale of the Property. Each prospective purchaser will be responsible for any claims for commissions by any other broker or agent in connection with a sale of the Property if such claims arise from acts of such prospective purchaser or its broker/agent. Any Buyer’s Agent must provide a registration signed by the prospective investor acknowledging said agent’s authority to act on its behalf. Environmental MattersAll parties to real estate transactions should be aware of the health liability and economic impact of environmental factors on real estate. Agent does not conduct investigations or analysis of environmental matters, and accordingly, urges its clients to retain qualified environmental professionals to determine whether hazardous or toxic wastes or substances (such as asbestos, PCBs and other contaminant or petrol-chemical products stored in underground tanks) or other undesirable materials or conditions

are present in the Property, and if so, whether any health danger or other liability exists. Such substances may have been used in the construction or operation of the buildings or may be present as a result of the previous activities at a Property. Depending upon past, current and proposed uses of the Property, it may be prudent to retain an environmental expert to conduct a site investigation and/or building inspection. Various federal, state and local authorities have enacted laws and regulations dealing with the use, storage, handling, removal, transport and disposal of toxic or hazardous wastes and substances. If hazardous or toxic substances exist or are contem-plated to be used at a Property, special governmental approvals or permits may be required. In addition, the cost of removal and disposal of such materials may be substantial. Consequently, legal counsel and technical experts should be consulted where these substances are or may be present. Agent makes no representation and assumes no obligation regarding the presence or absence of toxic or hazardous waste or substances or other undesirable materials on or about any Property ultimately sold. It is solely the responsibility of the potential investor to conduct investigations to determine the presence of such materials. Radon GasRadon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities may present health risks to persons who are exposed to it over time. Additional information regarding radon and radon testing may be obtained from your county public health unit. The Americans with Disability ActThe Americans with Disabilities Act is intended to make many business establishments equally accessible to persons with a variety of disabilities; modifications to real Property may be required. State and local laws also may mandate changes. Agent is not qualified to advise you as to what, if any, changes may be required now, or in the future. Prospective investors should consult their attorneys and qualified design professionals for information regarding these matters. Legal & Tax MattersWith respect to legal or tax issues pertaining to the acquisition and/or ownership of the Property, Agent is not qualified to provide advice on such matters. Prospective purchasers should consult with their advisors on these and other related matters. The recipient of this Offering Memorandum shall not rely on any information contained herein with respect to these or any other matters. The Seller and the Agent make no representation or warranties on any such matters.


Net Leased Retail Property For Sale at Auctionwww.transwestern.com/chicago4

Executive Summary

Transwestern and Auction.com are pleased to offer for sale to qualified investors an absolute net leased property in Orange Park (Jacksonville), Florida. This fee simple offering is 100 percent leased to Home Depot and represents the opportunity to acquire a well-located investment grade asset.

The lease commenced in September of 1992 and has a 25-year primary term, with 10, five-year tenant options to extend. Rent increased 5 percent on September 1, 2012 and will increase 5 percent on the first day of each option period. Additionally, Home Depot is sub-landlord for a 6,500-square-foot retail building occupied by Panda Express and The Mattress Firm. This building does not currently provide any additional rent to the landlord, but will revert to the landlord upon termination of the Home Depot lease.

The subject is in a densely populated retail area, directly adjacent to a Super Target and across the street from the 958,000-square-foot Orange Park Mall anchored by Dillards, JC Penney, Sears, Belk, Dick’s Sporting Goods, and AMC Theaters.

Developed in 1992 and renovated in 1995, the property consists of 11.37 acres of land improved with a 108,578-square-foot building. The infill location, high traffic counts, strong demographics and high barriers to entry make this property a solid long-term investment.

InVEStMEnt hIGhlIGhtS

Tenant Home Depot

Address 1919 Wells Road

Location Orange Park (Jacksonville), FL 32037

Building Size 108,578 SF

Land Size 11.37 Acres

Current Rent $1,187,546

Remaining Lease Term 3 1/3 Years

Existing Debt N/A

Interest Fee Simple

Starting Bid $2,000,000

Actual Property

http://www.auction.com/Florida/commercial-auction-asset/193012613-7766-1919-Wells-Road-ORANGE-PARK-FL-32037-B126


propErty InforMAtIon

Building Size 108,578 SF

Land Size 11.37 Acres

Parking Spaces 500

AVErAGE DAIly trAffIC

Blanding Blvd. 78,500

Wells Road 26,500

Interstate 295 93,500

Total 198,500

Actual Property


lEASE AbStrACt

Lease Type Absolute NNN

Primary Lease Term 3 1/3 Years

Lease Commencement 9/1/1992

Lease Expiration 8/31/2017

Current Annual Rent $1,187,546.75

Rent/SF $10.94

Primary Term Increases No

Renewal Options Ten | 5 Year

Option Increases 5% every 5 years

Rent Schedule Current $1,187,546

Option Rent Schedule

9/2017 $1,246,924

9/2022 $1,309,270

9/2027 $1,374,734

9/2032 $1,443,471

9/2037 $1,515,644

9/2042 $1,591,426

9/2047 $1,670,998

9/2052 $1,754,547

9/2057 $1,842,275

9/2062 $1,934,389

ExIStInG DEbt

Original Balance N/A

Current Balance N/A

Interest Rate N/A

Amortization N/A

Monthly P&I N/A

Annual P&I N/A

Maturity Date N/A

Actual Property

Actual Property


Site Market Map

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Kingsley AveKingsley Ave

Arora Blvd

Collins RdCollins Rd

295

295005,87005,73

005,26

26,500

93,500

83,000

SITE

Wells Rd


Site Intersection Mapdvl

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SITE

Orange Park Mall

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Site plan


tenant overview

The Home Depot is the world’s largest home improvement chain and second largest US retailer after WalMart. The firm operates about 2,200 stores across North America and China, as well as an e-commerce site. It targets the do-it-yourself and professional markets with its selection of over 40,000 items, including lumber, flooring, plumbing supplies, garden products, tools, paint, and appliances. The Home Depot also offers installation services for flooring, cabinetry, and other products.

The Home Depot is also the fastest growing retailer in U.S. history. In 1981, the company went public on NASDAQ and moved to the New York Stock Exchange in 1984. The 1980s and 1990s spawned tremendous growth for the company, with 1989 marking the celebration of its 100th store opening. The company arrived in Canada with the acquisition of Aikenhead’s home improvement centers in 1994, and it began flying its flag proudly in Mexico in 2001 through the acquisition of Total HOME. In 2006, the company extended its reach to China by acquiring The Home Way, a 12-store chain.

From the beginning, The Home Depot developed strategic product alliances directly with industry-leading manufacturers to deliver the most exclusive assortments to customers. Through a combination of national brands and proprietary products like Ryobi tools, RIDGID tools, BEHR paint, LG appliances, and Toro and Cub Cadet lawn equipment, the company sets the standard for innovative merchandise for the do-it-yourselfer and the professional contractor.

The Home Depot is a member of the Dow Jones Industrial Average index with a market cap of $100 billion. It ranked #35 in the U.S. on the 2012 Fortune

tEnAnt oVErVIEW

Tenant The Home Depot

Lease Guarantor Home Depot USA, Inc.

Ownership Public

Ticker Symbol NYSE: HD

Number of Locations 2,200+

Sales $72.5 Billion

Market Cap $100 Billion

Headquarters Atlanta, GA

Website homedepot.com

loCAtIon oVErVIEW

City Orange Park

State Florida

Metro Area Jacksonville

Population 1,345,596

500 list and is one of the most desirable retailers in the investment real estate property market.

location overview

orange parkThe Town of Orange Park is located in northern Clay County, 11 miles south of the City of Jacksonville and west of the St. Johns River. Clay County is the second most populous county in the seven-county northeast Florida region. Orange Park remained a sleepy town until after the opening of the more than three-mile-long Buckman Bridge in 1970, which connected Clay County with the southern part of the City of Jacksonville. Since that time, Orange Park has grown dramatically and has developed into the northeastern gateway to Clay County. Commerce and business have flourished in the greater Orange Park area as well. The Town and its government have continued to make a wide variety of improvements in an effort to meet the demands of its citizens and residents. The new town hall, built in 1995, is a

tribute to the Town of Orange Park and stands as an outstanding example of the character of residents and the foresightedness of those who call Orange Park home. Suburban-scale residential and strip commercial development characterize the Town of Orange Park. Primary commercial corridors include Park Avenue (U.S. Highway 17), Kingsley Avenue (State Road 224) and Wells Road.

Metro Area overviewThe Jacksonville metropolitan area is centered on the principal city of Jacksonville, Fl. The metro area consists of five counties: Duval, Clay, St. Johns, Nassau, and Baker. According to the 2010 Census, the total population was 1,345,596. The Jacksonville metropolitan area is the 40th largest in the country and the fourth largest in the state of Florida. The metro area is served by land, air, and sea. Interstate-95, Interstate-10, and Interstate-295 are the three highways that connect the Jacksonville metro area. Over 200,000 people per day travel through the intersection of I-295 and I-10. The Jacksonville International Airport is within the metro area. In 2012, the airport served over 5.2 million passengers. American Airlines, Delta, Southwest, Us Airways Express and United are the major carriers that serve the market. The Port of Jacksonville imports the second largest amount of vehicles on the east coast. Over 100 countries import and export their goods through the port.


Demographic report

populAtIon

0 - 1 miles 0 - 3 miles 0 - 5 miles

2012 Estimated Population 11,600 61,353 139,710

2017 Projected Population 11,453 63,763 146,549

2000 Census Population 12,279 54,011 115,913

1990 Census Population 10,134 49,085 100,061

houSEholDS


2012 Estimated Households 4,684 24,137 51,467

2017 Projected Households 4,646 25,059 53,571

2000 Census Households 4,907 20,512 42,234

1990 Census Households 3,905 17,789 35,654

2012 Estimated Average Household Size 2.46 2.51 2.68

2011 EStIMAtED houSEholD InCoME


2012 Estimated Average Household Income $54,952 $59,781 $61,236

2012 Estimated Median Household Income $44,009 $48,487 $50,926

2012 Estimated Per Capita Income $21,890 $23,555 $22,799

2012 Estimated Median Age 35.37 36.37 35.01

2012 Estimated Average Age 35.28 36.80 35.58

TRANSWESTERN chIcAGO200 West madison StreetSuite 3300chicago, IL 60606

Marc Imremmanaging [email protected]

Andrew Watsonmanaging [email protected]


home depot - amazon s3 · 2018. 7. 19. · supplies, garden products, tools, paint, and appliances....

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