upstate commercial group offering memorandum · upstate commercial group upstate commercial group...

1

Phone: 864-376-3384

Email: Chris.UpstateCommercial

[email protected]

2508 N. Main St

Suite M

Anderson, SC 29621 Upstate Commercial Group

Upstate Commercial Group

Commercial Real Estate Services

Executive Park Office Buildings

1814 & 1818 E. Main St

Easley, SC 29640

Offering Price: $2,395,914

Upstate Commercial Group

Offering Memorandum

Contact Broker for More Information:

Chris Merlo

864-376-3384

[email protected]

2

Phone: 864-376-3384


[email protected]

2508 N. Main St

Suite M


Executive Park

Table of Contents

1. About the Buildings

2. Offering

3. Demographics

4. Business in Upstate South Carolina

3

Phone: 864-376-3384


[email protected]

2508 N. Main St

Suite M


Marketing Package

Summary of Actual Rental Income & Expenses:

Gross Income at 100% Occupied $201,591

Real Estate Taxes -$14,143

Property Insurance -$3015

CAM -$10,672

Management (3%) -$6,047

___________________________________________

Net Operating Income $167,714

Capitalization Rate 7.00%

Offering Price $2,395,914

• Competitively priced at $139/SF

• Rent increases built-in

• National tenants in place

• 100% occupied

• 24 hour day/night security monitoring with in-

terior & exterior cameras that provide real time

& remote viewing

• Excellent drive-by traffic count

• Superior visibility

• Paramount office space in market

The Offering

4

Phone: 864-376-3384


[email protected]

2508 N. Main St

Suite M


Marketing Package

Address: 1814 & 1818 E. Main St. Easley, SC 29642

Property Type: Professional Office Park

Numbers of Buildings: 2

Combined Building Size: =+/-17,125 SF

Number of Parking Spaces: 70 plus overflow opportunity

Built: 1998-2000

Occupancy: 100% as of December 1, 2019

Tenants: National

Ceiling Heights: 10 FT

Land Area: 1.65 Acres

County: Pickens

Tax Map #: 5029-16-92-0899/5029-16-82-9861

Sewer: Combined Utilities

Water: Combined Utilities

Gas: Fort Hill

Power: Combined Utilities

Zoning: General Commercial District City of Easley

Property Details

5

Phone: 864-376-3384


[email protected]

2508 N. Main St

Suite M


Marketing Package

Executive Summary:

Executive Park provides a new owner an opportunity to

purchase a cash flowing asset at a price substantially below

replacement costs. The portfolio consists of two brick office

buildings containing approximately 17,125 SF. All 5 floors

are leased. National tenants include Berkshire Hathaway,

OnQ Financial, & Edward Jones. Rounding out the tenant

list is MedProcure Software and one floor of independent

tenants.

The office space was renovated in early 2017 and upgrades

included: new flooring, paint, revised kitchens with stain-

less appliances, luxury vinyl tile flooring, granite, sealing &

striping of parking lots, replacement of multiple HVAC sys-

tems and conversion of lighting to LED energy saving

bulbs. A camera system that records and can be viewed re-

motely from smartphones is also in use. The office build-

ings include ample parking and walking proximity to

McDonalds and Chick-fil-A.

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Phone: 864-376-3384


[email protected]

2508 N. Main St

Suite M


Marketing Package

Active Tenant List:

Berkshire Hathaway Home Services

Berkshire Hathaway Home Services now has nearly 29,500 employ-ees in close to 570 offices in 28 U.S. states, and residential sales volume topped $93 billion in 2016.

OnQ Financial

National Mortgage lender with 74 offices in 15 different states.

MedProcure Software

The local tenant employees 15 software engineers & services the software needs of hospitals across the country.

Edward Jones

Edward Jones, headquartered in St. Louis, is one of the nation’s most convenient suppliers of financial services for individual inves-tors. Edward Jones is one of the only firms to serve individual inves-tors exclusively. The firm has more than 7 million clients with more than $1 trillion in assets under care. Locations number 13,000.

7

Phone: 864-376-3384


[email protected]

2508 N. Main St

Suite M


Marketing Package

Aerial View

8

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2508 N. Main St

Suite M


Picture Gallery

Marketing Package

9

Phone: 864-376-3384


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2508 N. Main St

Suite M


Marketing Package

Picture Gallery

10

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2508 N. Main St

Suite M


Marketing Package

Floor Plans

1818 East Main

Ground

Floor

11

Phone: 864-376-3384


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2508 N. Main St

Suite M


Marketing Package

Floor Plan

1818 East Main

2nd Floor

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2508 N. Main St

Suite M


Marketing Package

1818 East Main

3rd Floor

Floor Plans

13

Phone: 864-376-3384


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2508 N. Main St

Suite M


Marketing Package

1814 East Main

1st Floor

Floor Plan

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2508 N. Main St

Suite M


Marketing Package

1814 East Main

2nd Floor

Floor Plan

16

Phone: 864-376-3384


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2508 N. Main St

Suite M


Marketing Package

Demographic

Information

Marketing Package

1818 E. Main St Easley, SC 29640 · Office For Sale

Demographics 1 Mile 3 Mile 5 Mile

2,343

13,787

24,779

26,526

48.28% 47.92% 48.30%

51.72%

22,462 39,453

31,274

2015 Total Employees 5,320 15,227

41

2015 Total population: Under 5 years 259 1,685

3,432

2015 Total population: 10 to 14 years 272 1,781


357 1,779 3,088

354 1,802 3,020

298 1,791 3,075

292 3,075

294 3,552


330

323

280

1,673 2,861

247 1,292 2,095

167 915

647

92 670

17

5.34% 5.86% 5.93%

6.19% 6.71%

5.63%

7.29% 5.89%

5.99%

6.71% 6.95%

% 2015 Total population: 50 to 54 years 7.15% 7.46%

6.74% 7.01%

5.77% 5.95% 6.16%

5.98% 5.82%

4.49%

3.44% 3.18%

2 .77%

2.70% 2.25% 1.87%

2.33% 1.83%

24,498 44,837

2,737 4,049

7 116

2015 Asian alone 37 228 326

2015 Native Hawaiian and OPI alone 10

2015 Some Other Race alone

2015 Two or More Races alone 577

2015 Hispanic 257

4,596

87.39%

7.89%

0.14%

0.76%

2.91% 2.30% 1.88%

% 2015 Two or More Races alone 2.01% 1.95%

5.30% 5.34% 4.76%

3,956 21,832 39,454

415

28

168

26

20 179 314

87.14% 89.08%

9.50% 7.45%

0.11% 0.11%

% 2015 Not Hispanic: Asian alone 0.47% 0.38%

0.01%

0.11% 0.10%

0.71% o.n%

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Total: Employees (NAICS)

Total: Establishments (NAICS)

4,853 28,770 51,305

2015 Households 2,059

Population Change 2010-2015 29 952 1,916

Household Change 2010-2015 249 505

3.88%

2.61%

313 3,618 7,016

Household Change 2000 -2015 128 2,704

14.38% 15.84%

14.86% 15.78%

7,444

504 2,614

92.21%

% 2015 Owner occupied housing units 73.90% 74.01%

26.10% 25.99% 21.60%

% 2000 Vacant housing units 7.79%

Income

3-mi.

5- mi.

$62,391

101

126 714

1,116

207 1,352

1,214

523

272 2,182

1,530 2,713

102

784

264

32 241

4 .91% 6.15%

5.07%

6.12% 5.37%

6.12% 5.62%

6.12%

4 .18% 4.53%

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2015 Automobile dealer s

$1,692,827 $9,621,742

2015 Other motor vehicle dealers $247,346 $1,412,626 $2,462,131

$7,492,124

2015 Hardware stores $352,142

2015 Home centers $351,782 $3,595,955

2015 Nursery and garden centers $428,353 $4,352,718

$198,171 $1,130,433 $1,978,114

2015 Paint and wallpaper stores $235,765 $414,047

$1,150,360 $11, 514,264

$3,167,395 $17,966,887 $31,193,935

2015 Beer, wine, and liquor stores

2015 Convenience stores

2015 Restaurant Expenditures $2,237,926 $12,783,687 $22,277,517

2015 Supermarkets and other grocery (except convenience) stores $50,782,395

2015 Furniture stores $7,952,734

2015 Home furnishings stores $2,867,467 $16,360,729

2015 General merchandise stores $14,818,801 $84,717,864 $147,768,989

$7,625,325 $75,212,817

$54,493,<127

$14,818,801 $147,768,989

$5,755, 535

$23,383,532

$637,935

2015 Book, periodical, and music stores $554,218

2015 Hobby, toy, and game store-,,;

2015 Musical instrument and supplies stores $152,762 $267,760

$52,634 $297,243 $518,715

2015 Sporting goods stores $1,475,043

5.73% 4.76%

11.00%

13.24% 13.67%

3..30% 3.38% 3.95%

1.55% 1.98%

$534,374

$3,021,118

$192,390 $1,099,614 $1,912,136

$3,583,701

$6,292,711

$10,778,323

20

Phone: 864-376-3384


[email protected]

2508 N. Main St

Suite M


Marketing Package

Upstate SC Overview In the Upstate of South Carolina, companies recognize the advantage of having access to a top-ranked business climate, world-class research environment and a superb quality of life. These advantages among others help support the diverse range of industries that represent the region including world-renowned companies like BMW, Michelin, St. Jude's Medical, Fuji, Sterilite and many others. Companies are drawn here by our favorable tax rates, market accessibility and the quality & availability of our workforce. In fact in 2013, the Upstate SC Alliance was recognized in Site Selections magazines fifth annual Global Best to Invest Report. Alongside our top-ranked business climate is the region's dedication to research and innovation. The Upstate is home to an abundant amount of private sector and university-based research in-cluding R&D facilities for Michelin, Fuji and General Electric and research centers to support the automotive, biosciences, plastics and photonics industries. The Upstate also understands that in order to attract and retain a quality workforce, it's im-portant to have an environment that offers something for everyone. Whether you are into watch-ing fanatical college football, taking in a spectacular Broadway musical or just hanging out in the park listening to music, the Upstate of South Carolina promises to keep you and your em-ployees thoroughly entertained.

Business in Upstate

South Carolina

http://siteselection.com/issues/2013/may/top-groups.cfm?s=ra

21

Phone: 864-376-3384


[email protected]

2508 N. Main St

Suite M


Marketing Package

Global Business Climate Home to approximately 500 companies from 34 countries, Upstate South Carolina provides an exceptional business climate for some of the world's most forward-thinking companies. Many of them are world leaders in the development and application of cutting-edge technologies in automotive, advanced materials, biosciences and energy sectors. As international investment has grown, so have the outreach opportunities for the international community here in the Up-state. This region offers international schools, sister cities programs and most importantly, the International Center for the Upstate. With a talented workforce, a diverse range of industry, an accommodating infrastructure, and an attractive lifestyle, it's no wonder top companies such Michelin, BMW, General Electric, Fluor, Milliken, and Fuji all call Upstate South Carolina home. Further proving the success of the Upstate business climate is the fact that since 2010, we have announced more than $9.9 billion in capital investment and more than 25,214 jobs.

• 2013 Top Destination for foreign direct investment, 2013 Global Location Trends

• 2013 Global Best to Invest, Site Selection

• #3 Top States for Doing Business, Area Development

• #5 Pro-Business Regulatory Environment, Forbes

• #2 Micro City of the Future, FDi Intelligence

• Top 50 Cities for Global Trade, Global Trade Magazine

• #5 for Globalization, 2012 New State Economy Index #4 on the American Dream State Ranking Report, 2013

Industry & Innovation The Upstate holds a wide breadth of industrial focus and expertise, but our true strength lies where industry and education align. And while we are well known for our ability to design and produce some of the world's most advanced products, we are specifically accelerating growth in the areas of Automotive, Aerospace, Advanced Materials, Biosciences and Energy. The im-petus behind much of the growth in the Upstate is innovation spurred by university and private sector research. Local research and development by BMW, General Electric, Michelin, Timken, Capsugel, Milliken and St. Jude is redefining what's possible in several industries. In university research, Clemson leads the way with groundbreaking work at the Clemson Uni-versity International Center for Automotive Research, the Advanced Materials Research Lab and the Biomedical Engineering Innovation Campus. Small business entrepreneurialism also thrives at the Tyger River Campus of Spartanburg Community College, the Greenville Cham-ber's NEXT and NEXT Innovation Center, and the Greenwood Genetic Center.

• #3 Automotive Manufacturing Strength

• #6 Biotechnology Strength/Emerging Biotech Hubs

• Named an Emerging Epicenter of High Tech Industry for Polymers

• #6 America's Engineering Hubs: The city with the Greatest Capacity for Innovation

• #1 Emerging Logistics/Distribution Growth Centers

http://www.upstatescalliance.com/target-audiences/welcome-automotive-companies

http://www.upstatescalliance.com/target-audiences/welcome-aerospace-companies

http://www.upstatescalliance.com/target-audiences/welcome-advanced-materials-companies

http://www.upstatescalliance.com/target-audiences/look-upstates-best-bio-assets

http://www.upstatescalliance.com/target-audiences/powering-growth-future

http://cuicar.com/

http://cuicar.com/

http://www.clemson.edu/economic-development/cuicat.html

http://www.cucubeinc.com/

http://www.ggc.org/

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Phone: 864-376-3384


[email protected]

2508 N. Main St

Suite M


Marketing Package

Population, Workforce & Education Home to more than 1.37 million people, Upstate South Carolina is the ten counties in the north-western corner of South Carolina. Over the past 20 years, this region has experienced an almost 30% growth rate, and investments in such growth industries as advanced materials, automotive, biosciences and energy are continuing to move the region forward at a record pace. CNBC ranks the South Carolina workforce as the 5th best in the nation, based on quality and availability of workers and workforce training. This comes as no surprise as the 10-county Up-state encompasses a population of more than 1.37 million and has grown at a rate of 10% since 2000. South Carolina is also aright-to-work state and has one of the lowest unionization rates in the nation. Many of our workers have specialized skills, including a high concentration of architectural and engineering talent, mechatronic specialists, team assemblers and metal workers, and machinists and fabricators. Many headquarters are also located here, employing more than 11,000. Our highly skilled workforce is due in large part to the 23 colleges and universities in the region - including world-renowned Clemson University - as well as our long-established technical col-lege system and nationally recognized state workforce training programs, readySC and Appren-ticeship Carolina.

http://www.readysc.org/

http://www.apprenticeshipcarolina.com/

http://www.apprenticeshipcarolina.com/

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Phone: 864-376-3384


[email protected]

2508 N. Main St

Suite M


By Land

• Interstates 85 and 26 span the Upstate and

provide quick access to major markets

and the Port of Charleston

• SC has the 4th largest state-maintained

highway system

• CSX and Norfolk Southern provide Class-

I rail service to the area in addition to

short-line services

By Air

• Greenville-Spartanburg International

Airport provides convenient air access

• 12 general aviation facilities are located

across the region

• Major airports in Charlotte and Atlanta

are only a few hours away

By Sea

• Port of Charleston is located 3 hours from

the Upstate

• Inland Port opened in 2013 provide direct

rail connection to the Port

Marketing Package

Infrastructure One of the Upstate South Carolina's top assets is its ability to efficiently move people, goods and services. The region has excellent interstate highways, convenient rail services, and both commercial and private air connectivity. In addition, power and water capacity are plentiful, and the Upstate's electric rates are among the lowest in the nation.

Lifestyle

Many are drawn to the Upstate by a cost of living that is around 10 percent lower than the na-tional average. Once here, they are blown away to discover that just because most things cost less doesn't mean there's less of it. Housing is plentiful and relatively affordable, and top-quality healthcare easy to access. The Upstate has as much to offer after work hours as during. With an active nightlife and a wide range of cultural activities from Broadway musicals to college football, there's always something to do. And the Upstate's many lakes and mountains offer an impressive choice of recreational activities, including hiking, boating, and golfing.

Information courtesy of Upstate Alliance

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Phone: 864-376-3384


[email protected]

2508 N. Main St

Suite M


Marketing Package

About

Upstate Commercial Group:

WWW.UPSTATECOMMERCIALGROUP.COM

Contact Broker for More Information:

Chris Merlo

864-376-3384

[email protected]

upstate commercial group offering memorandum · upstate commercial group upstate commercial group...

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