offering memorandum cbre capital markets at&t · documents of whatever nature independently and...

OFFER ING MEMORANDUM

15035 S MEMOR IAL DR IVE | B I XBY, OK 74008

AT & TC B R E C A P I TA L M A R K E T S

15035 S MEMORIAL DRIVE | BIXBY, OK 74008

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AT&T

JARED AUBREYSENIOR V ICE PRES IDENT+1 214 252 1031ja red .aub rey@cbre . com

M ICHAEL AUSTRYVICE PRES IDENT+1 214 252 1115michae l .aus t r y@cbre . com

OFFERING SUMMARY

EXCLUSIVE MARKETING ADVISORS:

$Offering Price:$1,335,300

%Cap Rate:

6.65%

CARY PH I L I PSBROKER OF RECORDL IC . 076337

YEARS COMMENCEMENT ANNUAL RENT INCREASE

1-7 AUGUST 2016 $88,800 -

OPTION 1 (8-12) AUGUST 2023 $102,120 15%

OPTION 2 (13-17) AUGUST 2028 $112,332 10%

NET OPERATING INCOME $88,800

NET OPERATING INCOME $88,800

YEAR BUILT 2016

GROSS LEASABLE AREA 2,400 SF

LAND AREA .51 ACRES

LEASE TERM 7 YEARS

LEASE COMMENCEMENT AUGUST 2016

LEASE EXPIRATION JULY 2023

REMAINING TERM 5 YEARS

LEASE TYPE NN

ROOF & STRUCTURE LANDLORD

INCREASES YES

OPTION YES

OPTIONS TO PURCHASE NO

GUARANTOR CORPORATE


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AT&T

INVESTMENT HIGHLIGHTS

+ New 2016 Construction

+ Small Price-Point Asset, Significantly Less Than Most On-Market AT&T Offerings – Allows investor to purchase an asset with strong real estate fundamentals that isn’t artificially inflated due to a lease with tenant improvements

+ Strong Guarantor – The Franchisee operates over 1,400 AT&T mobility stores across the US. Subsidiary of publicly traded GameStop Corp. (NYSE: GME). GameStop operates over 7,000 locations across 14 countries

+ Rare 15% Rental Increase in Option – Strong Hedge Against Inflation

+ High Visibility, Easy Ingress/Egress & Strong Traffic Counts – Over 13,400 vehicles per day on 151st Street and over 23,000 vehicles per day on Memorial Drive

+ Main Retail Corridor – Surrounding retailers include Walgreens, Family Dollar, Dollar General, QuikTrip, Taco Bueno, O’Reilly Auto Parts, and many more


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AT&T

TENANT OVERVIEW

AT&T is a telecommunications company providing cell phones, data plans, and tablets. As a global leader in the Telecommunications, Media, and Technology industry, AT&T delivers advanced mobile services, next generation TV, high speed internet, and smart solutions for people and businesses.

TYPE Telecommunications

YEARS IN BUSINESS 132

NO. OF LOCATIONS 16,000

HEADQUARTERS Dallas, TX

WEBSITE www.att.com

GameStop Corp.(NYSE: GME), a Fortune 500 company headquartered in Grapevine, Texas, is a global, omnichannel video game, consumer electronics and wireless services retailer. GameStop operates more than 7,000 stores across 14 countries. The company’s consumer product network also includes www.gamestop.com; www.Kongregate.com, a leading browser-based game site; Game Informer® magazine, the world’s leading print and digital video game publication; and ThinkGeek, www.thinkgeek.com, the premier retailer for the global geek community featuring exclusive and unique video game and pop culture products. In addition, our Technology Brands segment includes Simply Mac and Spring Mobile stores. Simply Mac, www.simplymac.com, operates 74 stores, selling the full line of Apple products, including laptops, tablets, and smartphones and offering Apple certified warranty and repair services. Spring Mobile, www.springmobile.com, sells all of AT&T’s products and services, including DIRECTV through its 1,421 AT&T branded stores and offers pre-paid wireless services, devices and related accessories through its 70 Cricket branded stores in select markets in the U.S.

TYPE Retail

YEARS IN BUSINESS 34

NO. OF LOCATIONS 7,276

HEADQUARTERS Grapevine, TX

WEBSITE www.gamestop.com


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AT&T

PROPERTY AERIAL


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AT&T

PROPERTY AERIAL | .5 MILE VIEW


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AT&T

SITE DEMOGRAPHICS

7 MI

3 MI

1 MI

5 MI

20,000 10,000 030,000

S MEMORIAL DRIVE

POPULATION

130,421 48,016

23,359

13,400

16,721

4,613

959

$62,314

$82,138

$127,254

$110,780

46,937

12,776

2,450

30,000 12,00060,000 24,00090,000 36,000

90,000

120,000 48,0000 0

0

HOUSEHOLDS

AVERAGE HOUSEHOLD INCOME TRAFFIC COUNTS (2017)

E 151ST STREET

7 MI

3 MI

1 MI

5 MI

7 MI

3 MI

1 MI

5 MI

45,000 135,000


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AT&T

WHY BIXBY?

Make one visit to Bixby, Oklahoma and you’ll see why it’s consistently one of the fastest-growing cities in Oklahoma. Bloom-ing residential neighborhoods featuring a variety of housing styles, excellent schools, vibrant community life and available land for development all make Bixby the natural choice for residents and businesses. As people discover all that Bixby offers, they are increasingly choosing to move and become part of this thriving city immediately adjacent to Tulsa proper. As local business owners and national concerns discover the market access a Bixby location offers, new shop-ping, dining and entertainment choices appear frequently. Bixby’s public schools are consistently top-notch and are cited by most new residents as a major factor in their decision to move to Bixby. The school continues to pro-actively build for the future with additional facilities, improvements and enhancements. Home values in Bixby exceed those of the Tulsa metro area, of Oklahoma in general, and of the U.S. in aggregate. New homes built in Bixby tend to be upscale, though there is a good variety of new and existing housing available. Eighty-two percent of Bixby residents own their homes. Despite this growth, Bixby has retained a friendly, small town feel, with beautiful neighborhoods, nu-merous churches, and many community amenities. The area parks along with its extensive trail system significantly add to the community’s quality of life. Bixby’s regional, 115 acre Bentley Youth Sports Park was recognized for top design in the state by the Oklahoma Recreation Sports Society and best splash pad design by Aquatics International magazine. Washington Irving Park, situated on 32.5 wooded acres consisting of walking trails, picnic tables, an amphitheater and a restroom facility with covered patio, is another gem residents take ad-

vantage of regularly. Bixby BBQ ‘n Blues Festival is held each year in Washington Irving Park, providing a shaded, pleasant atmosphere for festival attendees. Charley Young Park is located in downtown Bixby and is the site of the annual Bixby Green Corn Festival. A gazebo provides shelter for musicians, outdoor weddings, and other family oriented events. Lake Bixhoma is located about 5 miles southeast of Bixby on Leonard Mountain and is considered a nature lover’s dream. The Lake permits fishing while enforcing low-wake zones. The foundation of Bixby’s success is a progressive municipal government consistently focused on proactive growth and dedicated to bringing successful new business to serve the needs of Bixby citizens.

Source: Bixby Meto, City of Bixby


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AT&T

WHY BIXBY?

Source: Bixby Meto, City of Bixby


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AT&T

CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Af-filiates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the success-ful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a man-ner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the own-er of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, mar-ket conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qual-ified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not

purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affil-iates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Mem-orandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discus-sions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obli-gation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

DISCLAIMERS

EXCLUSIVE MARKETING ADVISORS

OFFER ING MEMORANDUM

C B R E C A P I TA L M A R K E T SJARED AUBREYSENIOR V ICE PRES IDENT+1 214 252 1031JARED.AUBREY@CBRE .COM

M ICHAEL AUSTRYVICE PRES IDENT+1 214 252 1115MICHAEL .AUSTRY@CBRE .COM

CARY PH I L L I PSBROKER OF RECORDL IC . 076337

15035 S MEMOR IAL DR IVE | B I XBY, OK 74008

AT & T

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