plainfield, in 1.364 acres • 12,762 sq ft $ 2,930,500 • 6.75% cap … · 2014-12-17 · our...

Plainfield, IN1.364 Acres • 12,762 SQ FT

$ 2,930,500 • 6.75% Cap Rate

Jack Jamison, Broker-In-Charge550 S. Main Street, Suite 300 • Greenville, SC 29601

864.263.5414 o • 864.232.0160 f • www.REALTYLINKDEV.com

For investment information:J. Tyson Glasser, CCIM • Investment Sales Advisor

[email protected] • 864.263.5427 o • 404.435.6312 c

Investment Highlights• Long term net lease with a publicly traded (NASDAQ:

SPLS) investment grade credit tenant (S&P: BBB-/Stable)

• Relocated and downsized store from existing unit 1 mile away - shows long term commitment to market

• Founded in 1986, Staples operates in 25 countries and generates over $23 billion in annual sales

• Perfectly positioned in the heart of trade area at the entrance of Metropolis, a 600,000 SF class A lifestyle center anchored by JC Penney, Dick’s Sporting Goods, Carmike Cinemas, Barnes & Noble, DSW and Old Navy

• Next to Indianapolis International Airport, which serves more than 7.2 million passengers annually on approx. 135 flights daily and has the second largest FedEx Express operation in the world

• Strategic regional location in central Indiana with convenient access to 4 major interstates (65, 69, 70, 74)

• Strong traffic counts in front of property with over 28,000 cars per day on US Hwy 40

• Over 86,000 residents in a 5-mile radius with an average household income of $76,000

Investment Property

ATTENTION: This brochure has been prepared to provide summary information to prospective purchasers and to establish a preliminary level of interest in the property presented. It does not, however, purport to present all material information regarding the subject property, and it is not a substitute for a thorough due diligence investigation. In particular, RealtyLink, LLC has not made any investigation and makes no warranty or representation with respect to the financial condition or business prospects of any tenant or any tenant’s plans or intentions to continue or renew its occupancy of the subject property. The information contained in this brochure has been obtained from sources we believe to be reliable; however, RealtyLink, LLC has not conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.

The RealtyLink name is a registered trademark of RealtyLink, LLC.

The RealtyLink logo is a registered service mark of RealtyLink, LLC.

Text and content © Copyright 2014 RealtyLink, LLC.

230 South Perry Road Plainfield, Hendricks County, Indiana 46168

Table of Contents

Property Summary

Financial Summary

Tenant Profile

Property Photos

Site Plan

Market Aerial

Location Maps

Market Photos

Market Profile

Demographics

Property Summary

Location: 11 miles west of downtown Indianapolis at the intersection of E. Main Street (US Hwy 40) and Perry Road next to the Indianapolis International Airport

Land Size: +/- 1.364 Acres

Building Size: +/- 12,762 Square Feet

Building Age: New construction completed in October 2014

Tenant/Guarantor: StaplesTheOfficeSuperstoreEast,Inc.

Lease Type: Double Net (CAM, Taxes, Insurance fully reimbursable)

Base Lease Term: 10 Years ($0.50 PSF rent bump in year 6)

Lease Commencement: October 24, 2014

Lease Expiration: October 31, 2024

Option Terms: 4 at 5 years each ($0.50 PSF rent bumps each option)

Landlord Obligations: Roof, Structure, Parking Lot, common areas, HVAC, limited management

Tenant Obligations: Interior, utilities, CAM/Tax/Insurance costs, HVAC, limited maintenance

Frontage: +/- 230 feet on Perry Road

+/- 251 feet on Mall Entrance Road

+/- 226 feet on Perimeter Mall Drive

Access: One entrance/exit on Mall Perimeter Drive

Parking: +/- 60 spaces with 3 handicap spaces

Zoning: General Commercial District (GC)

Declarations: Property subject to easements/covenants/restrictions agreements with adjacent properties

TrafficCounts: +/-28,169onUS40/MainStreetatPerryRoad(2013AADT-INDOT)

Demographics: 2014 3-Mile 5-Mile 7-Mile

Population 32,010 86,530 186,094

Households 11,689 30,833 67,953

AverageHHIncome $74,217 $76,339 $67,123

MedianHHIncome $59,402 $61,458 $53,045

Financial Summary

PurchasePrice: $2,930,500

Cap Rate: 6.75% (Years 1-5)

AnnualBaseRent: $197,811.00 (Years1-5)

$204,192.00 (Years6-10)

Option Term Rent: $210,573.00 (Years 11-15)

$216,954.00 (Years16-20)

$223,335.00 (Years 21-25)

$229,716.00 (Years26-30)

CapRateon11/1/19: 6.97%

CapRateon11/1/24: 7.19%

CapRateon11/1/29: 7.40%

Cap Rate on 11/1/34: 7.62%

CapRateon11/1/39: 7.84%

Average Cap Rate: 7.40% (Years 1-30)

Assumable Financing: Property delivered free and clear of debt at close of escrow

ProposedFinancing: 65-70%loan-to-value($880K-$1.02Mdownpayment)

10 year term

20-25 year amortization

4.0-4.25% interest rate

$123,829.95annualdebtservice(using65%LTV,25yearamortization,4.25%interest)

$73,981.05afterdebtcashflow

7.21% cash-on-cash return (years 1-5)

Tenant Financials: Available online at Tenant’s investor relation website (investor.staples.com)

Tenant Profile

Staples makes it easy to make more happen with more products and more ways to shop. Through its world-class retail, online and delivery capabilities, Staples lets customers shop however and whenever they want, whether it’s in store, online or on mobile devices. Staples offers more products than ever, in categories such as technology, facilities and breakroom, furniture, safety, and medical, as well as Copy & Print and Staples® EasyTechsm services. Staples has been making it easy for businesses for 27 years with thousands of associates

worldwide. Headquartered outside of Boston, Staples operates throughout North and South America, Europe, Asia, Australia and New Zealand. More information about Staples (Nasdaq: SPLS) is available at staples.com®.

Serving businesses of all sizes worldwideOur three business segments are made up of: North American Stores & Online, North American Commercial and International Operations.

North American Stores & OnlineWe make it easy for consumers and businesses to shop when and how they want, with more than 1,800 stores in North America, our Web sites and even a mobile app. It’s our vision to provide every product businesses need to succeed, from traditional office supplies and technology to cleaning and breakroom and more unexpected items.

Our Copy & Print locations — both stand-alone and in every Staples® store — offer custom-print services, including everything from presentations and business cards to banners and calendars.

North American CommercialStaples has the world’s largest office products business-to-business delivery operation, serving mid-to-large businesses and Fortune 500 companies. Our North American Commercial business consists of Staples Advantage® and Quill.com.

Staples Advantage. The Staples Advantage one-source solution includes comprehensive products and services from office supplies, technology and printing to promotional products, furniture and facility supplies. Dedicated to providing organizations with greater cost savings and improved ordering efficiencies, Staples Advantage provides a customized level of account support and best-in-class customer service. More information is available at StaplesAdvantage.com.

Quill.com. Founded in 1956 and headquartered in Lincolnshire, IL, Quill.com serves the needs of over a million small to medium-sized businesses. As a premier business-to-business office products provider, Quill.com sells everything from paper and ink and toner to cleaning supplies and technology with 24-hour-a-day access to more than 65,000 business essentials. Quill.com has been a wholly owned subsidiary of Staples, Inc., since 1998. More information is available at quill.com.

International OperationsStaples is a global company with retail and delivery businesses serving customers in 25 countries. Learn more.

Dedicated to corporate responsibilityAt Staples, we believe a large part of who we are as a company is tied to our commitment to being a responsible corporate citizen. This holistic approach to business is rooted in our desire to make a positive impact on our associates, communities and the planet. Learn more about our four pillars of Corporate Responsibility: Environment, Community, Ethics and Diversity & Inclusion.

Property Photos

Site Plan

(18 screens)

To US Hwy 40

Market Aerial

Market Photos

Location Maps

Market Profile

Plainfield, Indiana is a community of 27,631 people located about 15 miles southwest of the city of Indianapolis. There are many exciting things that make Plainfield a wonderful place to live and work but first and foremost are the citizens of Plainfield.

The Town’s slogan is “A Community of Values” because values such as honesty, truth, integrity and justice are important to the people of Plainfield. Twelve values were identified by the town and a Community Values Program was established to recognize one citizen each month that exemplifies that month’s value.

Besides hosting the famous Indianapolis 500 race, Indy is home to the Indiana Pacers, Colts, Ice and Indians; the city also serves as the “Amateur Sports Capital of the World.”

In addition to sports, there are a variety of cultural activities such as the Indianapolis Symphony Orchestra, the Indianapolis Museum of Art, the Civic Theater and the country’s largest Children’s Museum.

All of these activities and places are within a short drive for the residents of the Town of Plainfield. Many citizens note that one of the best things about Plainfield is its location within the Indianapolis Metropolitan Area - small town living close to big city amenities.

Market Profile

Education

Plainfield Community School Corporation is a high performing school district proudly serving over 5,000 students in grades K-12. Students attend one of four elementary schools, one middle school and one high school.

Healthcare

Technology is a cornerstone for medical care and at Hendricks Regional Health. They offer the latest technology for diagnosing and treating medical conditions. The full-service, 160-bed hospital in Danville specializes in emergency services, orthopedics, cardiology, cancer care, adult mental health, pediatrics, childbirth and inpatient/outpatient surgery. The hospital also has both adult and pediatric hospitalists on-site 24-hours a day for the convenience of patients and office-based physicians.

Satellite facilities in Plainfield and Brownsburg offer services such as lab, radiology and physician offices. The Plainfield location also offers an immediate care center and physical therapy. Hendricks Regional Health has two satellite campuses in Avon: one with immediate care, physician offices, lab, a cancer center and an outpatient surgery. The other Avon location, the Hendricks Regional Health YMCA, offers physician offices, physical and occupational therapy, cardiac rehabilitation, wellness and nutrition services and more.

Hendricks Regional Health is a comprehensive health system with a medical staff of 250 physicians in more than 50 specialties. Within the medical staff is the HRH Medical Group, offering comprehensive care in internal medicine, family practice, pediatrics, orthopedics, sports medicine, diabetes care, neurology, obstetrics and gynecology. Many of these physicians are board certified, meaning they have passed additional training and testing through the professional organization in their specialty.

Hendricks Regional Health is licensed by the Indiana State Department of Health, accredited by the Healthcare Facility Accreditation Program (HFAP), and has achieved the esteemed Magnet® designation from the American Nurses Credentialing Center for excellence in nursing care. Hendricks Regional Health has been named on the Best Places to Work in Indiana list four times, including in 2014.

Recreation/Leisure

Hummel Park, Anderson Park, Swinford Park, Friendship Gardens, Franklin Park and the Plainfield Recreation & Aquatic Center are all located in or adjacent to the White Lick Creek floodway and are all linked by the north/south White Lick Creek Trail. The Vandalia Rail extends east and west along the old Vandalia Rail bed. The Sugar Grove Trail extends west from Hummel Park to include several subdivisions, plus other spurs have been provided to insure that everyone in the town has access to the trail system. Overall the Town has 20 miles of trails. Metropolis is a 600,251 sq ft open-air lifestyle center located in Plainfield. It is a progressive shopping, dining and entertainment destination. JC Penney, Dick’s Sporting Goods, Carmike Cinemas and Barnes & Noble anchor Metropolis and are joined retailers Victoria’s Secret, Coldwater Creek, Ann Taylor Loft, and Chico’s. Metropolis offers several restaurants including Stone Creek Dining Company, Claddagh Irish Pub, Panera Bread, and Orange Leaf Frozen Yogurt.

Demographics

The following pages detail the demographic data for this market

within a 3-mile, 5-mile, and 7-mile radius.

Demographic and Income Profile230 S Perry Rd, Plainfield, Indiana, 46168 3230 S Perry Rd, Plainfield, Indiana, 46168 Latitude: 39.71637Ring: 3 mile radius Longitude: -86.35683

Summary Census 2010 2014 2019Population 30,210 32,010 34,568Households 11,071 11,689 12,605Families 8,120 8,531 9,167Average Household Size 2.71 2.72 2.72Owner Occupied Housing Units 8,203 8,572 9,197Renter Occupied Housing Units 2,868 3,116 3,408Median Age 34.6 35.0 35.0

Trends: 2014 - 2019 Annual Rate Area State NationalPopulation 1.55% 0.47% 0.73%Households 1.52% 0.49% 0.75%Families 1.45% 0.39% 0.66%Owner HHs 1.42% 0.49% 0.69%Median Household Income 3.98% 3.07% 2.74%

2014 2019 Households by Income Number Percent Number Percent

<$15,000 883 7.6% 809 6.4%$15,000 - $24,999 1,007 8.6% 718 5.7%$25,000 - $34,999 1,154 9.9% 901 7.1%$35,000 - $49,999 1,706 14.6% 1,563 12.4%$50,000 - $74,999 2,305 19.7% 2,512 19.9%$75,000 - $99,999 1,875 16.0% 2,504 19.9%$100,000 - $149,999 2,022 17.3% 2,481 19.7%$150,000 - $199,999 520 4.4% 818 6.5%$200,000+ 216 1.8% 299 2.4%

Median Household Income $59,402 $72,202Average Household Income $74,217 $82,365Per Capita Income $26,986 $29,884

Census 2010 2014 2019 Population by Age Number Percent Number Percent Number Percent

0 - 4 2,348 7.8% 2,403 7.5% 2,663 7.7%5 - 9 2,465 8.2% 2,455 7.7% 2,581 7.5%10 - 14 2,394 7.9% 2,495 7.8% 2,633 7.6%15 - 19 2,120 7.0% 2,177 6.8% 2,310 6.7%20 - 24 1,665 5.5% 2,040 6.4% 2,035 5.9%25 - 34 4,304 14.2% 4,454 13.9% 5,040 14.6%35 - 44 4,486 14.8% 4,623 14.4% 4,866 14.1%45 - 54 4,371 14.5% 4,357 13.6% 4,293 12.4%55 - 64 3,102 10.3% 3,535 11.0% 3,921 11.3%65 - 74 1,621 5.4% 2,086 6.5% 2,597 7.5%75 - 84 943 3.1% 953 3.0% 1,168 3.4%

85+ 391 1.3% 432 1.3% 461 1.3%Census 2010 2014 2019

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 25,053 82.9% 25,784 80.5% 26,709 77.3%Black Alone 2,589 8.6% 3,097 9.7% 3,932 11.4%American Indian Alone 73 0.2% 84 0.3% 101 0.3%Asian Alone 1,132 3.7% 1,347 4.2% 1,650 4.8%Pacific Islander Alone 9 0.0% 10 0.0% 11 0.0%Some Other Race Alone 618 2.0% 778 2.4% 979 2.8%Two or More Races 737 2.4% 910 2.8% 1,186 3.4%

Hispanic Origin (Any Race) 1,611 5.3% 2,062 6.4% 2,618 7.6%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2014 and 2019.

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Population by AgePopulation by Age

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00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2014 Household Income 2014 Household Income

<$15K7.6%

$15K - $24K8.6%

$25K - $34K9.9%$35K - $49K

14.6%

$50K - $74K19.7%

$75K - $99K16.0%

$100K - $149K17.3%

$150K - $199K4.4%

$200K+1.8%

2014 Population by Race2014 Population by Race

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0White Black Am. Ind. Asian Pacific Other Two+

2014 Percent Hispanic Origin: 6.4%


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<$15,000 2,155 7.0% 1,933 5.9%$15,000 - $24,999 2,422 7.9% 1,703 5.2%$25,000 - $34,999 2,983 9.7% 2,286 6.9%$35,000 - $49,999 4,383 14.2% 3,931 11.9%$50,000 - $74,999 6,219 20.2% 6,677 20.3%$75,000 - $99,999 5,095 16.5% 6,740 20.5%$100,000 - $149,999 5,547 18.0% 6,757 20.5%$150,000 - $199,999 1,320 4.3% 1,979 6.0%$200,000+ 709 2.3% 951 2.9%



0 - 4 6,074 7.4% 6,158 7.1% 6,728 7.3%5 - 9 6,441 7.8% 6,303 7.3% 6,600 7.1%10 - 14 6,377 7.7% 6,490 7.5% 6,727 7.3%15 - 19 5,746 7.0% 5,825 6.7% 6,067 6.6%20 - 24 4,551 5.5% 5,650 6.5% 5,594 6.0%25 - 34 12,094 14.7% 12,172 14.1% 13,519 14.6%35 - 44 12,655 15.4% 12,912 14.9% 13,290 14.4%45 - 54 11,827 14.4% 11,925 13.8% 11,912 12.9%55 - 64 8,494 10.3% 9,623 11.1% 10,506 11.4%65 - 74 4,528 5.5% 5,655 6.5% 7,060 7.6%75 - 84 2,456 3.0% 2,629 3.0% 3,200 3.5%

85+ 1,096 1.3% 1,188 1.4% 1,273 1.4%Census 2010 2014 2019

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 68,971 83.8% 70,505 81.5% 72,451 78.3%Black Alone 7,087 8.6% 8,428 9.7% 10,505 11.4%American Indian Alone 207 0.3% 221 0.3% 249 0.3%Asian Alone 2,198 2.7% 2,614 3.0% 3,217 3.5%Pacific Islander Alone 32 0.0% 33 0.0% 35 0.0%Some Other Race Alone 1,985 2.4% 2,467 2.9% 3,116 3.4%Two or More Races 1,860 2.3% 2,260 2.6% 2,906 3.1%



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00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


<$15K7.0%

$15K - $24K7.9%

$25K - $34K9.7%

$35K - $49K14.2%

$50K - $74K20.2%

$75K - $99K16.5%

$100K - $149K18.0%

$150K - $199K4.3%

$200K+2.3%


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<$15,000 6,871 10.1% 6,438 9.0%$15,000 - $24,999 7,059 10.4% 5,158 7.2%$25,000 - $34,999 7,046 10.4% 5,552 7.8%$35,000 - $49,999 10,500 15.5% 9,661 13.6%$50,000 - $74,999 14,064 20.7% 15,242 21.4%$75,000 - $99,999 9,441 13.9% 12,564 17.6%$100,000 - $149,999 9,569 14.1% 11,722 16.5%$150,000 - $199,999 2,198 3.2% 3,270 4.6%$200,000+ 1,205 1.8% 1,606 2.3%



0 - 4 13,740 7.6% 13,661 7.3% 14,532 7.4%5 - 9 13,837 7.7% 13,574 7.3% 13,907 7.1%10 - 14 13,607 7.6% 13,674 7.3% 13,989 7.2%15 - 19 12,719 7.1% 12,445 6.7% 12,714 6.5%20 - 24 11,239 6.2% 12,963 7.0% 12,266 6.3%25 - 34 26,293 14.6% 26,443 14.2% 28,694 14.7%35 - 44 26,340 14.6% 26,334 14.2% 26,906 13.8%45 - 54 25,644 14.2% 25,286 13.6% 24,590 12.6%55 - 64 18,492 10.3% 20,908 11.2% 22,711 11.6%65 - 74 10,075 5.6% 12,302 6.6% 15,186 7.8%75 - 84 5,717 3.2% 5,952 3.2% 7,067 3.6%

85+ 2,317 1.3% 2,552 1.4% 2,819 1.4%Census 2010 2014 2019

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 147,620 82.0% 149,286 80.2% 151,672 77.6%Black Alone 17,593 9.8% 19,322 10.4% 22,162 11.3%American Indian Alone 522 0.3% 539 0.3% 588 0.3%Asian Alone 3,444 1.9% 4,110 2.2% 5,066 2.6%Pacific Islander Alone 70 0.0% 71 0.0% 75 0.0%Some Other Race Alone 6,592 3.7% 7,870 4.2% 9,716 5.0%Two or More Races 4,176 2.3% 4,897 2.6% 6,102 3.1%



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00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


<$15K10.1%

$15K - $24K10.4%

$25K - $34K10.4%

$35K - $49K15.5%

$50K - $74K20.7%

$75K - $99K13.9%

$100K - $149K14.1%

$150K - $199K3.2%

$200K+1.8%


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plainfield, in 1.364 acres • 12,762 sq ft $ 2,930,500 • 6.75% cap … · 2014-12-17 · our...

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