nampa retail center - loopnet · nampa retail center is a 2017-built, fully occupied retail center...
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NampaRetail CenterNAMPA, IDAHO
FULLY OCCUPIED RETAIL CENTER WITH HIGH VISIBILITY
NAMPA RETAIL CENTER is a 2017-built, fully occupied retail center located just off Interstate 84 at the entrance to the regional retail destination area in Nampa, Idaho. Heavy interstate traffic flows directly in front of the Property highlighting its visibility and the national tenancy presents attractive NNN lease terms. Nampa Retail Center also benefits from continued surrounding commercial development as the Boise MSA population has grown more than 80% since 2000.
LEASEABLE SF11,292 SF
LAND AREA68,825 SF
OCCUPANCY100%
PRICE PER SF $488
YEAR BUILT2017
PARKING52 Spaces; 4.6/1,000 SF
Investment Summary
6.50%CAP
$5,515,000PRICE
PAGE 5
Overview
UNPARALLELED EXPOSURE AT THE FOREFRONT OF THE REGIONAL
RETAIL DESTINATION INCLUDING THE COSTCO AND TARGET ANCHORED
TREASURE VALLEY MARKETPLACE AND THE HOBBY LOBBY AND DICK’S
SPORTING GOODS ANCHORED TREASURE VALLEY CROSSING
POWER CENTERS.
HIGH QUALITY 2017 CONSTRUCTION.
ADJACENT TO THE INTERSTATE 84 ACCESS POINT WITH TRAFFIC
COUNTS OF 76,000 VPD.
TheHighlights
Investment Highlights
HIGH QUALITY CONSTRUCTION
100% NATIONALLY RECOGNIZED TENANTS EXHIBIT NO NEAR-TERM
LEASE EXPOSURE WITH 78% OF THE GLA LEASED THROUGH 2027.
BOISE MSA EXPERIENCING SOME OF THE HIGHEST POPULATION
GROWTH IN THE COUNTRY.
NEWER RETAIL CORRIDOR CONTINUES TO EXPAND AMONGST THE
DENSE TRADE AREA OF MORE THAN 200,000 RESIDENTS.
Investment Highlights
PAGE 7
uBreakiFIx repairs all kinds of electronic devices including phones, tablets, computers and gaming consoles. The company is franchised nationwide and in Canada, totaling nearly 500 stores.
LOCATIONSACROSS US & CANADA494
LEASE TYPE: FRANCHISE
FOUNDED2011 LOCATIONSNATIONWIDE50+
Deka Lash was founded in 2011 with the vision to create beautiful lashes that are affordable and accessible to everyone. Deka Lash Studios are modern retail salons which apply semi-permanent custom eyelash extensions. The concept began franchising in 2016 and to date has 50 studios open in 20 states.
LEASE TYPE: FRANCHISE
Blaze pizza is a fast-casual pizza company that utilizes a made-to-order approach that is fresh, made-from-scratch dough with healthful, artisanal ingredients on the assembly line. The name is derived from the speed in which it is prepared, three minutes to cook.
LEASE TYPE: FRANCHISE
FOUNDED2011LOCATIONS ACROSS FIVE COUNTRIES
316
About the Tenants
FOUNDED1977 LOCATIONSNATIONWIDE700+
A leading omni-channel specialty retailer of nutritional products nationwide. The Vitamin Shoppe is the second largest vitamins, minerals and supplements specialty retailer nationwide with more than $1 Billion in annual revenue.
LEASE TYPE: CORPORATE
DENTISTS & MEMBERS8,000 LOCATIONS
NATIONWIDE700S&P(Subsidiary of Ares Management L.P.)
BBB+
ASPEN DENTAL is one of the largest and fastest-growing dental support organizations (DSO) in the U.S. with 700 locations employing an estimated 8,000 dentists and team members. Aspen Dental is a subsidiary of investment-grade Ares Management, L.P. (S&P: BBB+), a leading global alternative asset management company with $100 billion in assets, as well as Leonard Green & Partners, L.P., and American Securities, LLC, both leading U.S. private equity investment firms.
LEASE TYPE: CORPORATE
About the Tenants
PAGE 9
84
W KARCHER RD
76,000 VPD
37,000 VPD
KARCHER MALL
TREASURE VALLEY
MARKETPLACE
NAMPARETAIL
CENTER
NAMPA CENTER
Site
LOCATED IN A GROWING SUBMARKET 20 MINUTES FROM BOISE
Site
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MAJOR RETAILAaron’s Arby’s Buffalo Wild Wings Costco Dick’s Sporting Goods Dollar TreeEdwards Theater
Harbor Freight Hobby Lobby Home Depot Kmart Kohl’sLowe’s Outback Petsmart Red Robin
Savers ShopkoStaples Subway TargetTJ MaxxWincoZurchers
TOTAL 1-MILE 3-MILES 5-MILES
Businesses 417 1,483 3,326
Employees 6,512 20,795 42,061
Population 6,386 49,974 125,511
KEY 1-MILE 3-MILES 5-MILES
KARCHER MALL Applebee’s Bath and Body Works
Big 5 Sporting GoodsBurlington Coat FactoryGNCJoAnn Fabrics
Mor FurnitureRoss Dress for LessStarbucks Taco Bell
TREASURE VALLEY MARKETPLACEBed Bath & BeyondBest Buy Burger TheoryCostcoCost Plus World Market Cracker BarrelFamous Footwear
Habit BurgerHairmastersHoliday Inn Kohl’s MauricesMichaelsOld Navy Olive GardenPanera Bread
PetcoRue 21Sally BeautySonicSportmans WarehouseStarbucksTargetTGI FridaysUlta Beauty
BusinessSummary
Surrounding Retail
CALDWELL BLVD
W KARCHER RD
37,000 VPD
NAMPARETAIL
CENTER
84
TREASURE VALLEY
MARKETPLACE
KARCHER MALL
AMALGAMATEDSUGAR
LARGEST EMPLOYER IN NAMPA: 500
17,000VPD
U-Haul Moving & Storage: Opening
2018-2019
NAMPA CENTER
Surrounding Retail
PAGE 13
SurroundingRetail DestinationThe already dominant retail destination area off Karcher Road has continued to grow and add new pad sites surrounding the Subject property as well as at Treasure Valley Crossing which was originally built in 2014. Recent developments added to the destination area are listed below.
CHICK-FIL-A – 2017
BURLINGTON COAT FACTORY – 2018
THE HABIT BURGER GRILL – 2018
HOLIDAY INN – 2017 – 85 ROOMS
GAS STATION/CONVENIENCE STORE - UNDER CONSTRUCTION – 2019
ST. LUKE’S MEDICAL CENTER (87-BEDS) - 2017
New Developments
NAMPARETAIL
CENTER
®
GAS STATION/CONVENIENCE
STORE
NAMPA CENTER
New Developments
PAGE 15
W KARCHER RD
MERCHANT WAY
52 SPACES;4.6/1,000 SF
1.58ACRES
37,000VPD
76,000 VPD
11,292LEASEABLE SF
84
EXIT THROUGH HOLIDAY INN PARKING LOT
Site Plan
SITE PLAN NOT TO SCALE
EXIT THROUGH HOLIDAY INN PARKING LOT
PYLON SIGN
Site Plan
PAGE 17
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
Income & Expense
PRICE $5,515,000CAPITALIZATION RATE 6.50%PRICE PER FOOT $488
CASH FLOW SUMMARYSCHEDULED INCOME PER SFBase Rent for the Period of: 5/1/2019 - 4/30/2020 $34.35 $387,906Operating Expense Reimbursement $7.17 $80,909Equals: Scheduled Gross Income $41.52 $468,815Market Vacancy 5% ($2.08) ($23,441)Total Effective Gross Income (EGI) $39.44 $445,374
OPERATING EXPENSES Per SFCAMS $2.34 $26,430Property Taxes $3.57 $40,352Insurance $0.55 $6,212Management Fee of EGI $1.22 $13,827Total Operating Expenses $7.69 $86,821
NET OPERATING INCOME $31.75 $358,553
3.0%
3/14/2019 [ <www.CapitalPacific.com> ]
Financial Summary
RentRoll
TO ACCESS THE FULL FINANCIAL SUMMARY INCLUDING RENT ROLL, PLEASE EXECUTE THIS FORM.
Financial Summary
PAGE 19
Featured Photography
Featured Photography
PAGE 21
Q: HAS THERE BEEN ANY ENVIRONMENTAL ASSESSMENTS PERFORMED AT THE SITE?
A: Yes, there was a Phase I assessment performed prior to construction in 2016 and concluded that there were no recognized environmental conditions on the site. The Property was formerly undeveloped rural residential land.
Q: DOES THE CENTER HAVE ANY ACCESS OR OPERATING AGREEMENTS WITH THE NEIGHBORING PARCELS?
A: The Property shares access to the main road with the neighboring parcel. There is an access easement in place in which the Subject Property is not responsible for the maintenance of the drive lane, but does reimburse a small fee to the adjacent landowner.
Q: DO ANY TENANT LEASES HAVE PERSONAL GUARANTEES?
A: Yes, Blaze Pizza, Deka Lash and uBreakiFix are all personally guaranteed by the tenant.
Q: ARE THERE ANY EXCLUSIVE USE OR CO-TENANCY CLAUSES AT THE CENTER?
A: Yes, all tenants at the Property have exclusives. They are listed below.
BLAZE PIZZA: Artisan build your own pizza.
DEKA LASH: Eyelash extensions and microblading.
UBREAKIFIX: Electronics repair.
ASPEN DENTAL: Retail dental.
THE VITAMIN SHOPPE: Vitamins, minerals, supplements, nutrition products and
herbs.
Questions & Answers
Questions & Answers
PAGE 23
Boise, Idaho MSA
BOISE IS THE CAPITAL AND MOST POPULOUS CITY of the state of Idaho, as well as the county seat of Ada County. Located on the Boise River, it anchors the Boise City-Nampa metropolitan area and is the largest city between Salt Lake City, Utah and Portland, Oregon. The Boise metropolitan area is home to approximately 616,500 people and is the most populous metropolitan area in Idaho, containing the state’s three largest cities; Boise, Nampa, and Meridian.
Boise is the Fastest Growing City in the U.S. PER FORBES IN 2018
Location
BOISE IS THE HEADQUARTERS FOR several major companies, such as Boise Cascade LLC, Albertsons, J.R. Simplot Company, Idaho Pacific Lumber Company, Idaho Timber, WinCo Foods, Bodybuilding.com, and Clearwater Analytics. Other major industries are headquartered in Boise or have large manufacturing facilities present. The state government is also one of the city’s largest employers.
CorporateHeadquarters
93,000NEW JOBS IN IDAHOReplacing 60,000 lost during the reces-
80%POPULATION GROWTH SINCE 2000
2nd
HIGHEST HOME APPRECIATION YEAR-OVER-YEAR IN THE U.S. 2018
NAMPA IS THE THIRD LARGEST CITY IN IDAHO and is the second principal city of the Boise-Nampa metropolitan area. Nampa is known for its successful food processing, agribusiness and manufacturing companies, but has recently attracted a large mix of retail and restaurants. The city currently boasts a 3.0% unemployment rate, on par with Idaho and well under the national average.
Nampa, Idaho
Location
PAGE 25
189 MILES3 HRS 15 MINS
Sun Valley, Idaho
20 MILES22 MINS
Boise, Idaho
DistanceTo
Demographics
POPULATION
5 MINS 10 MINS 15 MINS
2010 8,143 86,731 180,451
2018 10,042 103,779 212,764
2023 11,286 115,472 234,776
2018 HH INCOME
5 MINS 10 MINS 15 MINS
Average $55,890 $54,501 $62,024
Median $40,463 $44,065 $50,081
KEY 5 MINS 10 MINS 15 MINS
DriveTime
CANYON COUNTY POPULATION (ESTIMATED)
207,478
Demographics
PAGE 27
Contact Us
SEAN [email protected]: 503.675.8378
SEAN [email protected]: 206.693.3352
We’d love to hearfrom you.
The information in this Executive Summary has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. All rights reserved to Capital Pacific, LLC.
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