tractor supply company porterville, caoms.maffiateam.com/oms/tractorsupplyportervilleca.pdf ·...

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offering memorandum.

This property is listed in conjunction with Arizona-licensedRetail Advisors S.W. (James Mitchell, designated broker).FILE PHOTO www.maffiateam.com

• Long Term Net Lease

• Brand New 2017 Construction

• National Tenant with a Net Worth of Approximately $1.4 Billion

• Operates more than 1,500 stores across 49 states

• 2015 Revenue of more than $6.2 Billion

• Excellent Visibility and Access along Henderson Drive Retail Corridor

$6,075,000Call for Details

OFFERING MEMORANDUM

Tractor Supply CompanyPorterville, CA

Table of Contents

PROPERTY INFORMATION 1

TENANT INFORMATION 2

SITE PLAN 3

AERIALS 4

ABOUT THE AREA 6

DEMOGRAPHICS 8

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Michael Maffia [email protected] RE License #01340853

Putnam Daily [email protected] RE License #01750064

The Maffia Team has been retained on an exclusive basis to market the property described herein (“Property”). Broker has been authorized by the Seller of the Property (“Seller”) to prepare and distribute the enclosed information (“Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.

Disclaimer

1

Price: $6,075,000

NoteDUE TO THE CONFIDENTIALITY AGREEMENT WITH TRACTOR SUPPLY COMPANY, WE ARE UNABLE TO DISCLOSE THE RENT, CAP RATE, OR LEASE INFORMATION. PLEASE EXECUTE THE ATTACHED NON-CIRCUMVENT/CONFIDENTIALITY AND NON-DISCLOSURE AGREEMENT (PAGE 9) TO RECEIVE THE FULL OFFERING MEMORANDUM.

Property Information

LocationThe property is located at 1755 West Henderson Drive, Porterville, CA.

Lot SizeApproximately 3.27 acres, or 142,441 square feet.

ImprovementsConstruction completed January 2017 of a 19,097 square foot retail building and 15,000 square feet fenced outdoor display area for Tractor Supply Company.

ParkingThere are approximately 98 parking spaces available on site.

1

Tractor Supply Company (NASDAQ: TSCO) is the largest operator of rural lifestyle retail stores in America. Based in Brentwood, Tennessee, the company’s products include tractor/trailer parts and accessories, hardware, livestock and pet products, tools, truck and towing products, agricultural products, and lawn and garden supplies. At present, Tractor Supply Company has more than 1,500 stores across 49 states. The company also owns Del’s Feed and Farm Supply, a farm retail chain in the Pacific Northwest and Hawaii.

For the recent quarter ending September 24, 2016, the company reported revenues of $1.54 billion with net income of $89.4 million and total stockholder equity of $1.46 billion.

For more information, please visit www.tractorsupply.com.

Tenant Information

2

3

STOP

W HENDERSON AVENUE

19,097 SF15,000 SF

OUTDOORDISPLAY

Site Plan

4

PORTERVILLE MARKETPLACE

PORTERVILLE PLAZA

PORTERVILLE TOWN CENTER

PORTERVILLE CROSSROADS CENTER

W H

enderso

n Ave (11,930

AA

DT)

N Newcomb St

MonacheHigh School

MonacheHigh School

FutureDevelopment

FutureDevelopment

VeteransPark

VeteransPark

Aerial View

5

PORTERVILLE CROSSROADS CENTER

PORTERVILLE MARKETPLACE

PORTERVILLE PLAZA

PORTERVILLE TOWN CENTER

DISTRIBUTION CENTER

/ (24,500 AADT)

W Henderson Ave (11,930 AADT)N Newcomb St

MonacheHigh School

MonacheHigh School

VeteransPark

VeteransPark

FutureDevelopment

FutureDevelopment

Oak GroveElementaryOak GroveElementary

PortervilleHigh SchoolPorterville

High School

DOWNTOWNDOWNTOWN

Granite HillsHigh SchoolGranite HillsHigh School Porterville

CollegePorterville

College

BroadviewCitrus Groves

BroadviewCitrus Groves

Porterville Oranges

Porterville Oranges

Aerial View

General OverviewPorterville (population 56,058) is a city in Tulare County, California, located within the San Joaquin Valley. The city is located on the Tule River at the base of the Sierra Nevada foothills in close proximity to the Sequoia National Forest, the Giant Sequoia National Monument, and Kings Canyon National Park. Porterville is served by State Route 190 (24,900 AADT) and State Route 65 (26,500 AADT), and is 17 miles off Highway 99 (50,000 AADT), a major north-south arterial spanning nearly the entirety of California’s Central Valley. The city is approximately 70 miles south of Fresno and 165 miles north of Los Angeles.

The San Joaquin Valley has historically had a primarily agricultural economic base. Tulare county has consistently ranked first in the state of California for agricultural revenues, by margins of nearly $1 million in 2013 and 2014. The city of Porterville additionally benefits from a significant manufacturing presence and participates in a number of state and federal programs designed to encourage economic development. Foster Farms maintains a 98,000 square foot processing facility employing more than 400 in Porterville, and Beckman Coulter, a biomedical instrument company, has maintained a major manufacturing plant in the city for more than 50 years, employing more than 200 people. Total manufacturing shipments in 2012 totaled more than $312 million for the city of Porterville, and total retail sales amounted to more than $513 million. Other major employers in Porterville include the Porterville Developmental Center, the United States Forest Service, and the Porterville Unified School District. Median household income is $38,456. Porterville is home to Porterville College (enrollment 1,690) and neighbors the College of the Sequoias (enrollment 4,763) and San Joaquin Valley College Visalia (enrollment 5,940).

About the Area

About the Area

Site InformationThe subject property is centrally located at 1755 W Henderson Ave less than a mile from State Route 65 (26,500 AADT). The property is ideally situated along a central retail corridor, just one block from two retail centers anchored by Target and Walmart respectively. Other major tenants include Petsmart, Kohls, Marshalls, T-Mobile, Dollar Tree, Office Max, Starbucks, and Food 4 Less. The Porterville West Shopping Center, featuring a CVS Pharmacy and a number of Tulare County offices, and Porter Plaza Shopping Center, home to Wells Fargo, Porterville Lanes and Sports Center, and Galaxy Porterville Theater, among other tenants, are both less than a mile from the site. Additionally, both Oak Grove Elementary School and Monache High School lie within a block of the subject property. Retail sales at hardware stores within a 5-mile radius of this location total more than $348,000 annually.

Demographics

1755 W Henderson Ave, Porterville, CA 93257

3 Miles 5 Miles 10 Miles

Population Summary

2010 Total Population 54,354 71,960 104,527



2016-2021 Annual Rate 0.69% 0.65% 0.67%

Average Household Income

2016 $56,439 $54,591 $53,709

2021 $60,576 $58,291 $57,209

Median Home Value

2016 $174,763 $168,563 $167,876

2021 $178,663 $174,284 $176,617

8

Top Employers in Porterville

Porterville Development Center

Porterville Unified School District

Walmart

Sierra View District Hospital

Eagle Mountain Casino

City of Porterville

Foster Farms

Burton School District

United States Forest Service - Sequoia National Forest

Beckman Coulter

The Maffia Team, by way of Chris Lattanzio (“Broker”) is presenting for sale the Subject Property (“Property”) known as the Tractor Supply Company property located at 1755 West Henderson Avenue, City of Porterville, County of Tulare, State of California, by the Property’s owner (the “Owner”). The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential information, including but not limited to the basic Property information such as annual rent, any rental escalations, and the asking capitalization rate, that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether to pursue negotiations to acquire the Property. Neither the Owner of the Property nor Broker or any of their respective officers, employees or agents, make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential information and no legal liability is assumed or shall be implied with respect thereto. Information provided has been or will be gathered from sources that are deemed reliable; however, neither Owner nor Broker warrants or represents that the information is true or correct. Recipients are advised to verify information independently. Owner and/or Broker reserve(s) the right to change the Property’s purchase price, or any Property or market information provided, or to withdraw the Property from the market at any time without notice. Recipients agree that the information provided by Broker is confidential and as such, agrees to hold and treat such information in the strictest of confidence. In addition, Recipients agree not to disclose, directly or indirectly, or permit anyone else to disclose this information to any person, firm or entity without prior written authorization of Owner or Broker and not use, or permit to be used this information in any fashion or manner detrimental to the interests of Owner or Broker. Photocopying or other duplication of such confidential information is strictly prohibited. Recipients agree not to contact the Property’s tenant(s), leasing brokers, or property management staff in connection with Recipients’ review of the Property or confidential information. IN ADDITION, THE CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OR PREPARATION OF THE OFFERING MEMORANDUM. While Owner and/or Broker may discuss the purchase and sale of the Property with Recipients, either Owner or Broker, in our sole and absolute discretion, may terminate sale discussions at any time and for any reason. Recipients acknowledge that neither Owner nor Broker has any obligation to discuss or agree to the sale of the Property. The acquisition discussions may be lengthy and complex. Notwithstanding that the parties may reach one or more oral understandings or agreements on one or more issues, neither of the parties shall be bound by any oral agreement of any kind, and no rights, claims, obligations or liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or Broker except to the extent expressly set out in a written agreement signed by both Owner and Broker. This letter will further confirm that Recipients understand that Broker is presenting the information on the above-referenced Property and that Recipients agree not to circumvent Broker and contact the Owner of the Property. Please execute below and return via facsimile to Putnam Daily at 415.373.4060 or email to [email protected] at your earliest convenience. Agreed and accepted, this _________ day of __________________, 2015. PRINCIPAL CO-BROKER Company: Company (if applicable):__________________________ Address: Address: By: By: Name: Name: Its: Its: Phone: Phone: Fax: Fax: Email: __ Email: _____________________________________

Tractor Supply Company – Porterville, CA NON-CIRCUMVENT/CONFIDENTIALITY and NON-DISCLOSURE AGREEMENT

www.maffiateam.com

Michael Maffia [email protected] RE License #01340853

Putnam Daily [email protected] RE License #01750064

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