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OFFERING MEMORANDUM
DOWNTOWN BRISTOW PORTFOLIOMAIN STREETBristow, OK 74010
OFFERING MEMORANDUM
AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT
CBRE, Inc. operates within a global family of companies with many subsidiaries and 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, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).
Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior
written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.
If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.
This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and
information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.
The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.
The source of square footage and acreage information noted within this Offering Memorandum is Assessor and Owner.
© 2017 CBRE, Inc. All Rights Reserved.
D O W N T O W N B R I S T O W P O R T F O L I O
TABLE OF CONTENTS
PORTFOLIO OVERVIEW
305 N. MAIN STREET
117 N. MAIN STREET
117 S. MAIN STREET
222 N. MAIN STREET
600-604 S. MAIN STREET
AREA MAP
AERIAL
DEMOGRAPHICS
CONTACT US
SHAWNA HALE, CCIMSenior Associate+1 918 392 [email protected]
JOHN WATCHOUSAssociate+1 918 392 [email protected]
PORTFOLIO OVERVIEW
PROPERTY
The Portfolio includes six properties totaling 42,782± square feet, with Main Street frontage in downtown Bristow, Oklahoma. Its central location just off the Turner Turnpike within short driving distances to Tulsa, Stillwater, and Oklahoma City, creates a unique opportunity for office and retail investors or developers.
While a package sale is preferred, the owner will consider selling one or more buildings separately. Individual pricing is available upon request. Owner financing may be available, dependent upon finance terms and buyer creditworthiness.
TRAFFIC COUNTS
+ Main Street
− 9,415 Average Daily Traffic
+ Turner Turnpike
− 15,087 Average Daily Traffic
DISTANCE TO MAJOR CITIES
+ Tulsa
− 33 Miles
+ Stillwater
− 59 Miles
+ Oklahoma City
− 76 Miles
CITY OF BRISTOW
Bristow is located in the center of Creek County on historic Route 66, between the two largest metropolitan cities in Oklahoma. Ranked 10th in the state in education, Bristow is a wholesome city ready for retail growth.
The Bristow Hospital Authority is currently planning new hospital construction for late 2019.
The Jones Memorial Airport is planning a 4,000 square foot runway addition to enhance direct air traffic serving larger aircrafts to and from the City of Bristow. Dirt work is scheduled to begin Summer 2017. This is especially important to the growing aeronautical presence in Bristow, which is already home to the Bristow Academy, The Bristow Group, and Vertical Aerospace.
On June 13, 2017, the Oklahoma Turnpike Authority awarded a $27.1 million dollar contract to Sherwood Construction to widen the Turner Turnpike to six lanes from Tulsa to Bristow. Construction is scheduled to begin August 8, 2017.
The City of Bristow has announced plans for a new Amphitheatre and Water Well Museum which will attract more tourists and outdoor event opportunities.
The Bristow Historical Society & Museum, in conjunction with the Bristow Train Depot, is on the National History Registry and annually attracts many tourists interested in learning about Bristow’s fascinating history.
OVERVIEW D O W N T O W N B R I S T O W P O R T F O L I O
D O W N T O W N B R I S T O W P O R T F O L I O
BUILDING OVERVIEW• Constructed in three easily demisable sections with separate 8th Street
storefront entrance
• Three floors totaling 30,418± square feet
• Zoned Urban Commercial (UC)
• 100’± of frontage on Main Street
• 125’± of frontage on E. 8th Street
• Situated on the Northeast hard corner of 8th and Main
• Late 1920’s Stylized Tudor design with numerous ornate features including Tudor arch with roses, tin ceiling tiles, and original floor tile inserts
• Recent Improvements: 2016 replaced roof, rebuilt brick dormers, new metal façade, and new glass storefront doors at the northwest entrance
• Property includes: concrete roof, 19’ steel columns, hardwood floors, elevator shaft, freight elevator shaft, roof access, and interior freight loading ramps
• First floor: central heat and air, open showroom/sales floor, glass display windows, storefront and entrances, and private offices
• Second floor/mezzanine: offices, two additional showroom spaces, and two restrooms
• Third floor: multiple offices with common reception areas, restrooms, antique mahogany wood staircase and trim, open work spaces, and showroom/sales floor
• Originally constructed to support multiple additional floors
• Excellent opportunity for multi-use project with first/second floor retail and offices, third floor offices or redevelopment to multi-family or boutique hotel
305 N. MAIN
FIRST FLOOR
StairsUp To
Side Exit
RR
StairsDn
Stairs Up
StairsUp
StairsDn
StairsDn
StairsUp
StairsUp
Elev.Shaft
Elev.Shaft
12’
18.5’
20’14’
19’
19’
19’
19’
21’ 21’
3.5’
19’
21’
100’
120’
8’
21’6’
305 N. MAIN D O W N T O W N B R I S T O W P O R T F O L I O
D O W N T O W N B R I S T O W P O R T F O L I O
SECOND FLOOR
RR
StairsDn
To FirstFloor
Stairs
RRStairs to3rd FloorStairs to
1st Floor
Elev.Shaft
Elev.Shaft
StairsDn
To FirstFloor
19’
19’
21’
12’
21’14’
11’
12’
14’
43’
305 N. MAIN
D O W N T O W N B R I S T O W P O R T F O L I O
THIRD FLOOR/ BASEMENT FLOOR
StairsUp
StairsUp
StairsUp
InteriorLoadingRamp
InteriorLoadingRamp
12’
19’
19’
9’
43’
50’
19’
43’
120’
305 N. MAIN
RR Elev.Shaft
Roof
Acce
ss
StairsTo 2nd Floor
120’
100’
D O W N T O W N B R I S T O W P O R T F O L I O
117 N. MAIN
BUILDING OVERVIEW
• 2,250± square foot single story
• Zoned Urban Commercial (UC)
• 25’± of Main Street frontage
• Brick construction with glass storefront
• Currently configured for salon use; Plumbed for wash station
• Reception area, two restrooms, large open sales floor, three private offices/treatment rooms
• Roof resealed 2017; New floor joists 2017
RR
RR
8’
8’ 8’
11’
13’
90’
6’
D O W N T O W N B R I S T O W P O R T F O L I O
117 S. MAIN
BUILDING OVERVIEW
• 2,250± square foot single story
• Zoned Urban Commercial (UC)
• 25’± of Main Street frontage
• Brick construction with glass storefront
• Fully leased restaurant space
• Large dining area with 60+ seating capacity including counter seating
• Full kitchen with 12’ hood vent
• Two restrooms; employee breakroom
• Large storage room; manager’s office
Seating Area
RR
RR
HVAC
Storage
Kitchen
90’
25’
7.5’
7.5’
8’
40’
11’
23’
12’
D O W N T O W N B R I S T O W P O R T F O L I O
RR
Stairs
RR
StairsTo
2nd Floor
25’
120’
222 N. MAIN
BUILDING OVERVIEW
• 3,000± square feet - 1st floor
• 3,000± square feet - 2nd floor (not renovated)
• Zoned Urban Commercial (UC)
• Brick construction with glass storefront
• 25’± of Main Street frontage
• Situated on the Southwest hard corner of 8th and Main Street
• Fully leased physician’s office build-out
• Waiting/reception area, two restrooms, break room, lab, 10± exam rooms, storage room with floor sink
• 2nd floor exterior entry
• 2 buildings and 2 lots totaling .31± acres
• Zoned Urban Residential (UR)
• Southwest hard corner Main and 1st Ave (intersection of Highway 48 and Highway 16)
Building 1
• 800± square foot commercial building
• Open floor plan with 2 private offices and restroom
• New ventless gas wall heater, 2 new window cooling units
Building 2
• 1,064± square foot residential building
• 2 bedrooms, 1 bathroom, with basement
• 2 new window units
• Fully occupied
36’
26’
27’
15’
600-604 S. MAIN
BUILDING OVERVIEW
Building 1
Building 2
D O W N T O W N B R I S T O W P O R T F O L I O
D O W N T O W N B R I S T O W P O R T F O L I O
Bristow
AREA MAP
AERIAL
305 N. Main222 N. Main
117 N. Main
117 S. Main
600-604 S. Main N
D O W N T O W N B R I S T O W P O R T F O L I O
D O W N T O W N B R I S T O W P O R T F O L I O
ONE-MILE RADIUS THREE-MILE RADIUS FIVE-MILE RADIUS
PO
PU
LAT
ION
2016 POPULATION 4,101 5,411 6,809
2021 POPULATION 4,180 5,509 6,925
2010 POPULATION 3,960 5,236 6,603
2000 POPULATION 4,091 5,371 6,700
PERCENT POP CHANGE: 2010 TO 2016 0.56% 0.53% 0.49%
PERCENT POP CHANGE: 2016 TO 2021 0.38% 0.36% 0.34%
2016 MEDIAN AGE 37.10 37.80 39.10
2016 EMPLOYEES 2,235 2,486 2,541
HO
US
EH
OLD
S
2016 HOUSEHOLDS 1,678 2,179 2,707
2021 HOUSEHOLDS 1,699 2,204 2,733
2010 HOUSEHOLDS 1,643 2,139 2,663
2000 HOUSEHOLDS 1,712 2,204 2,699
PERCENT HH CHANGE: 2010 TO 2016 0.34% 0.30% 0.26%
PERCENT HH CHANGE: 2016 TO 2020 0.25% 0.23% 0.19%
AVERAGE HOUSEHOLD SIZE 2.41 2.46 2.49
INC
OM
E
2016 AVERAGE HOUSEHOLD INCOME $41,235 $43,164 $46,400
2021 AVERAGE HOUSEHOLD INCOME $42,324 $44,536 $48,242
2016 MEDIAN HOUSEHOLD INCOME $30,849 $32,058 $34,878
2021 MEDIAN HOUSEHOLD INCOME $29,116 $30,071 $32,168
2016 PER CAPITA HOUSEHOLD INCOME $17,095 $17,603 $18,660
2021 PER CAPITA HOUSEHOLD INCOME $17,419 $18,029 $19,248
BACHELOR’S DEGREE OR HIGHER 373 505 670
HO
US
ING
2016 HOUSING UNITS 1,970 2,550 3,153
2016 VACANT HOUSING UNITS 292 371 446
2016 OCCUPIED HOUSING UNITS 1,678 2,179 2,707
2016 OWNER-OCCUPIED HOUSING UNITS 952 1,300 1,760
2016 RENTER-OCCUPIED HOUSING UNITS 726 879 947
2016 MEDIAN HOME VALUE $76,815 $84,222 $94,004
2016 AVERAGE HOME VALUE $102,022 $119,092 $142,244
DEMOGRAPHICS
Capital Markets | Investment Properties
CONTACT US
SHAWNA HALE, CCIMSenior Associate+1 918 392 [email protected]
JOHN WATCHOUSAssociate+1 918 392 [email protected]
THE HALE-WATCHOUS TEAM
Our Team’s mission is to provide superior commercial real estate services in a manner commensurate with the level of service and expertise we would choose for ourselves in the same situation. Client Size
Zoellner Eye Z66 Auto Auction Central Tube & Bar Crosstown Business Crete Carrier American Alloy Steel Premier Truck Group Gateway Industrial Park
Sulzer Chem Tech Rolled Alloy
Virgola Wine & Oyster Phat Phillys Recover Float Therapy Helmerich & Payne Prosperity Bank Tulsa Business Parks LLC Fine Airport Parking Reasor’s
56,000 SF17 Acres11 Ac/45,000 SF297,000 SF4 ac/8,000 SF4.53 Acres8 Acres43 Acres SF107,250 SF68,000 SF3,500 SF4,000 SF6,000 SF206,000 SF7,000 SF87,000 SF110 Acres20,000 SF
SIGNIFICANT ASSIGNMENTS
Drawing from 13+ years of experience, we have established trusting relationships, extensive market knowledge and a specialized approach to suc-cessfully delivering goal oriented solutions which enable our clients to focus on their core business. We specialize in the acquisition and disposition of industrial, land and commercial properties including investment and development opportunities as well as Landlord and Tenant rep leasing assignments.