EXECUTIVE SUMMARY PPG Industries · 2018. 8. 16. · company. Founded in 1883, PPG has global...

EXECUTIVE SUMMARY

Leased to Fortune 500 Company Tenant PPG Paints

DANBURY, CT

WATERBURY, CT

ALSO AVAILABLE AS INDIVIDUAL ASSETS

PPG Industries Two Properties for Sale

Broker: Jon Angel President

203.335.6600, Ext. 21

[email protected]

2425 POST ROAD, SUITE 303, SOUTHPORT, CT 06890 • TEL 203.335.6600 • FAX 203.335.9900 • WWW.ANGELCOMMERCIAL.COM

No warranty or representation, express or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice and to any special listing conditions imposed by our principals.

FOR SALE Two Property PortfolioContents PPG Industries

Page

3

4

5

6

7

Portfolio Overview

About the Portfolio

News Release: PPG Industries Acquires Painter’s Supply

Location Map

Town Overviews

211 White Street, Danbury, CT

89

1011

Fact Sheet Neighborhood Map Traffic Report Demographic Profile

1225 Thomaston Avenue, Waterbury, CT Fact Sheet Neighborhood Map Traffic Report Demographic Profile

Confidentiality Agreement

12 13 14 15

16


203.335.6600, Ext. 21

[email protected]


No warranty or representation, express or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice and to any special listing conditions imposed by our principals. 2

FOR SALE

For Sale at $2,448,000.00 • Total portfolio offers approximately 13,901

RSF on 1.09 acres.

• 2018 PROJECTED NOI: $208,168.61 withscheduled increases and 8.5% CAP rate.

• Corporate Guarantees from Fortune 500Company, PPG Industries

• NNN leases with rate increases over theterm

• Located within high traffic areas and inclose proximity to highways.

LOCATION APPROX. BUILDING SIZE LAND PROJECTED 2018 NOI PRICE

Danbury, CT 7,286 RSF .42 $143,115.92 $1,683,000.00

Waterbury, CT 6,615 RSF .67 $65,052.69 $765,000.00

TOTAL 13,901 RSF 1.09 $208,168.61 $2,448,000.00

WATERBURY

DANBURY


203.335.6600, Ext. 21

[email protected]



Two Property PortfolioPPG Industries

FOR SALE Portfolio Description

ABOUT THE PORTFOLIO

Two Locations in Connecticut

Angel Commercial, L.L.C. is pleased to offer the sale of the Connecticut PPG Portfolio consisting of two fully leased properties located in Danbury and Waterbury. The portfolio is for sale in its entirety for $2,448,000 or as individual assets. Total portfolio offers approximately 13,901 RSF. The projected 2018 NOI is $208,168,61with scheduled increases and a CAP rate of 8.5%.

Pittsburgh Paint (PPG Industries) assumed all of the leases within this portfolio as a result of their purchase of Painter’s Supply. As a $15 billion, Fortune 500 company, and global supplier of paints and specialty products, PPG Industries’ recent acquisition of Painter’s Supply strengthens this investment portfolio.

This portfolio offers an investor a rare opportunity to acquire two net leased assets in Connecticut. Each property is well maintained and located near or on main streets with excellent accessibility, visibility, demographics and ample parking. Properties are located within shopping locations and have easy access to major highways.

ABOUT

PPG Industries (DBA, Pittsburgh Paint)

Headquartered in Pittsburgh, PA, PPG Industries (NYSE: PPG) is ranked 183 on the Fortune 500 list (2017) and announced 2016 net sales of $15.178 billion. With approximately 47,000 employees worldwide and 156 manufacturing facilities in 70 countries, PPG Industries is the leading global coatings and specialty products company.

Pittsburgh Paint is only one of PPG Architectural Coatings’ products. Other common products include; GLIDDEN®, LIQUID NAILS®, OLYMPIC® Paints and Stains, PPG PITTSBURGH PAINTS®, and MANOR HALL®. They distribute their products globally and are available at all major home improvement centers including Lowe’s, Home Depot and Walmart.

DANBURY, CT

WATERBURY, CT


203.335.6600, Ext. 21

[email protected]




FOR SALE News Release

PPG Acquires Painter’s Supply News release taken from PPG Industries’ website

2014 PPG ACQUIRES CONNECTICUT-BASED ARCHITECTURAL PAINT DISTRIBUTOR PAINTER’S SUPPLY

PITTSBURGH, June 2, 2014 – PPG Industries (NYSE:PPG) today announced that its North American architectural coatings business has acquired substantially all of the assets of Painter’s Supply, an independent architectural paint distributor headquartered in Connecticut. Painter’s Supply operates 10 locations in Connecticut and Massachusetts. Financial terms were not disclosed.

“The acquisition of Painter’s Supply supports our dedication to our professional customers,” said Scott Sinetar, PPG vice president, architectural coatings, North America. “A fundamental part of our strategy is to expand distribution to professional painters and contractors.

“Independent dealers continue to be a key distribution channel for our business and our products, which is why we’re investing more in our independent dealers now than ever before. However, when dealers are looking for a partner, PPG is constantly looking for ways to strengthen its network,” Sinetar continued.

PPG Architectural Coatings is an industry leader in residential and commercial coatings and products. The business produces paints, stains and specialty coatings marketed under well-recognized product lines such as the FLOOD®, GLIDDEN®, LIQUID NAILS®, MANOR HALL®, OLYMPIC®, PPG PITTSBURGH PAINTS®, PPG PORTER PAINTS®, PPG Paints and SIKKENS® brands. Its distribution network includes more than 900 company-owned stores in North America, more than 5,000 independent dealer locations and all major home improvement centers.

PPG: BRINGING INNOVATION TO THE SURFACE.™ PPG Industries' vision is to continue to be the world’s leading coatings and specialty materials company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Net sales in 2013 were $15.1 billion. PPG shares are traded on the New York Stock Exchange (symbol:PPG). For more information, visit www.ppg.com and follow @PPGIndustries on Twitter.


203.335.6600, Ext. 21

[email protected]




FOR SALE Two Property Portfolio PPG IndustriesLocation Map

DANBURY, CT

WATERBURY, CT

1

2

211WhiteStreet,Danbury,CT06810

1225ThomastonAvenue,Waterbury,CT06704

1

2


203.335.6600, Ext. 21

[email protected]



FOR SALE Town Overviews

Waterbury, CT The City of Waterbury is the largest city in the Central Naugatuck Valley Region, the fifth largest city in the state and the ninth largest in New England. Located in the region’s geographic center, at the intersection of Interstate 84 and state Route 8, the city offers a variety of regional retail, commercial, health, education and social services.

Danbury, CT Danbury is the 7th largest city in Connecticut and maintains a very strong financial position. The city has retained an AA rating from Moody’s Investors Services and Standard and Poor’s rating companies as evidence of that strength. The city’s planning and improvements result in Danbury’s economic growth and stability. Danbury serves as the hub of the entire Western Connecticut region.


203.335.6600, Ext. 21

[email protected]




Danbury, CT 06810


203.335.6600, Ext. 21

[email protected]



INVESTMENT OPPORTUNITY WITH A FORTUNE 500 COMPANY TENANT: 6,700 RSF in a single story retail building on 0.42 acres for sale attraffic signal at the corner of White Street and Eighth Avenue. Fully leased to single tenant, PPG Paints (formerly Painter’s Supply) with corporateguarantee from Fortune 500 company. The projected 2018 NOI is $143,115.92 with an 8.5% CAP rate.

ADDITIONAL INCOME SOURCE: 100% leased 3,289 SF multi-family house is included with the acquisition. Currently generating$38,700/annually in additional income from three tenants - not included in NOI. Renovated in 2012 .

Near top national retailers including Walmart, Home Goods, Staples, Whole Foods, Starbucks, Auto Zone, Family Dollar, Dunkin’ Donuts,Walgreens, Marshalls, Subway, McDonald’s and Burger King. Situated across from Western State Connecticut University Midtown Campus.Located 1.5 miles to I-84, Exits 5 and 6, and less than one mile to the Danbury Metro North Train Station.

Also available for sale as part of a 2 Property Investment Portfolio.

Space Available:

Total Building Size:

Land:

Real Estate Taxes:

Zoning:

Year Built:

Construction:

Tenancy:

Occupancy:

6,700 SF

7,286 SF approximately

0.42 acres

$23,410.32 (2018)

RH3

1950

Masonry

Multiple

100%

The SiteCap Rate: 8.5%

Projected 2018 NOI: $143,115.92

Financial Information

Traffic Count::

Parking:

17,800 Average Daily Traffic Volume

14 Spaces

Features

Water/Sewer: City/City

A/C: Partial

Heating: Gas

Utilities

Population: 76,784

Median HH Income: $68,629

Three Mile DemographicsPopulation: 115,083


Five Mile Demographics

Fact Sheet

FOR SALE 211 White Street

Danbury, CT 06810Neighborhood Map

211 White Street

NEAR TOP NATIONAL RETAILERS

INCLUDING:

RetailerDistance (miles)

Dunkin’ Donuts .5

Walgreens .6

AutoZone .9

Family Dollar .9

Taco Bell 1.2

McDonald’s 1.3

Subway 1.3

Walmart 1.4

Starbucks 1.5

Staples 1.5

Home Goods 1.6

Burger King 1.6

Marshalls 1.8

Target 2.5

Whole Foods 4.5

REGIONAL RETAILERS INCLUDING:

Stop & Shop 1.3

Price Rite 1.5

Stew Leonard’s 2.5


203.335.6600, Ext. 21

[email protected]




Danbury, CT 06810FOR SALETrafficReport

211 White Street

17,800

Average Traff c Volume: 17,800 Location: White Street/Shalvoys Lane Distance from Subject: .36 miles Count Year: 2017Source: CoStar


203.335.6600, Ext. 21

[email protected]



211 White Street

Danbury, CT 06810DemographicProfile


203.335.6600, Ext. 21

[email protected]




1 Mile

County

Population Growth Household Growth

2018 Med Household Inc 2018 Households by Household Income

2018 Median Age 2018 Population by Race

2018 Renter vs. Owner 2018 Employed vs. Unemployed

1225 Thomaston Avenue Waterbury, CT 06704

FOR SALEFact Sheet


203.335.6600, Ext. 21

[email protected]



INVESTMENT OPPORTUNITY WITH A FORTUNE 500 COMPANY TENANT: 6,615 RSF one-story building on 0.67 acres for sale with ampleparking. Renovated in 2011. Fully leased to a single tenant, PPG Paints (formerly Painter’s Supply) with a corporate guarantee from a Fortune500 company. The projected 2018 NOI is $65,052.69 with an 8.5% CAP rate.

Near top national retailers including Target, CVS, McDonald’s, Sears, Subway, Dollar General, Starbucks, Radio Shack, AutoZone, Family Dollar,Kmart, Staples, 7 Eleven and TJ Maxx. Located less than 1 mile from Route 8, Exit 36.

Also available for sale as part of a 2 Property Investment Portfolio.

Space Available: 6,615 RSF

Total Building Size:

Land:

Real Estate Taxes:

Zoning:

Year Built:

Construction:

Stories:

Tenancy:

Occupancy:

6,615 RSF

0.67 acres

$29,783.48 (2018)

IG

1962, renovated in 2011

Masonry

One

Single

100%

The SiteCap Rate: 8.5%

Projected 2018 NOI: $65,052.69

Financial Information

Traffic Count::

Parking:

8,000 Average Daily Traffic Volume

Ample

Features

Water/Sewer: City/City

Heating: Gas

Utilities

Population: 82,852


Three Mile DemographicsPopulation: 145,073


Five Mile Demographics

1225 Thomaston Avenue Waterbury, CT 06704Neighborhood Map

1225 Thomaston Avenue

NEAR TOP NATIONAL RETAILERS

INCLUDING:

RetailerDistance (miles)

Subway .5

Target 1.1

Starbucks 1.1

McDonald’s 1.2

RadioShack 1.2

Aldi 1.4

7-Eleven 1.5

Burger King 1.5

CVS 1.6

AutoZone 1.8

Family Dollar 2.7

Staples 3.0

TJ Maxx 3.1

Kmart 3.3

Sears 3.3

Dollar General 4.2

REGIONAL RETAILERS INCLUDING:

Stop & Shop 1.2

Ocean State Job Lot 2.8


203.335.6600, Ext. 21

[email protected]



FOR SALE

1225 Thomaston Avenue Waterbury, CT 06704TrafficReport

8,00035,800

Average Traff c Volume: 8,000Location: Thomaston Ave/Huntington Ave Distance from Subject: .18 milesCount Year: 2017Source: CoStar

1225 Thomaston Ave

28,20026,400


203.335.6600, Ext. 21

[email protected]



FOR SALE

1225 Thomaston Avenue Waterbury, CT 06704DemographicProfile


203.335.6600, Ext. 21

[email protected]



FOR SALE

1 Mile

County

Population Growth Household Growth

2018 Med Household Inc 2018 Households by Household Income

2018 Median Age 2018 Population by Race

2018 Renter vs. Owner 2018 Employed vs. Unemployed

Re: Two (2) Property Portfolio (herein “Properties”)

This will serve to confirm our agreement concerning certain material, data and Information (herein “Evaluation Material”) which the Owner will make available to us for study in connection with a possible purchase by us of the Properties.

The Owner is prepared to furnish us with the Evaluation Material in connection with discussions and negotiations concerning a possible transaction involving the Properties only on the conditions that we treat such Evaluation Material, discussions and negotiations, confidentially and confirm certain representations to you. Therefore as a prerequisite to The Owner furnishing the Evaluation Material to us, we hereby represent and agree as follows:

1. The Evaluation Material furnished to us will be used by us solely for evaluating a possible transaction exclusively for our own account,as principal in the transaction, and not as a broker or agent for any other person. Therefore, we agree to keep all Evaluation Materialstrictly confidential; provided, however, that any such Evaluation Material may be disclosed to our directors, officers or employees, aswell as our counsel, accounting firms and financial institutions who need to know such information for the purpose of assisting us withour possible purchase of the properties. Such directors, officers, lawyers, financial institutions and accountants shall be informed by usto treat such information with strict confidence.

We agree not to copy or duplicate the Evaluation Material and to return the Evaluation Material to the Owner promptly if requested byowner. We agree that the Owner of the Properties will have no adequate remedy at law if we violate any of the terms of this Agreement.In such event, the Owner will have the right in addition to any other right the Owner may have, to seek injunctive relief to restrain anybreach or threatened breach by us or specific enforcement of such terms.

In addition, we agree that we will not disclose and we will direct our representatives who are given access to the Evaluation Materialin accordance with the terms hereof, not to disclose to any person, the fact that the Evaluation Material in accordance with theterms hereof, not to disclose to any person, the fact that the Evaluation Material has been made available to us, that discussions ornegotiations among us and the Owner are now taking place or will take place, or any of the terms, conditions or other facts with respectto the possible acquisition of the Properties.

2. Although the Owner has endeavored to include in the Evaluation Material information which they believe to be relevant for the purposeof helping us in our evaluation of the Properties for possible purchase, we understand and acknowledge that neither the Owner nor anyof the respective affiliates or agents make any representation or warranty to us as to the accuracy or completeness of the EvaluationMaterial. We agree that the Owner, and their respective affiliates or agents shall not have any liability to us as a result of our use ofthe Evaluation Material and it is understood that we are expected to perform and are responsible for such due diligence investigationsand inspections of the Properties, including investigation of any environmental conditions, as we deem necessary or desirable and aspermitted by agreement with the Owner of the Properties.

3. We also represent that we have dealt with no other broker or agent other than Angel Commercial LLC in any discussions involving theProperties.

4. We agree to indemnify, defend and hold, the Owner and their respective affiliates harmless from and against all claims, loss, damagesexpense or liability (including reasonable attorney’s fees) arising from the breach of any of the terms of this Agreement by us or ourRepresentatives.

Company: ____________________________________

Address: ____________________________________

City, State, Zip: ____________________________________

Date: ____________________________________

CONFIDENTIALITY AGREEMENT

The properties covered by this Confidentiality Agreement are defined below:

OWNER PROPERTY

211 White Street, LLC211 White Street

Danbury, CT

H&S Olson of Waterbury, LLC

1225 Thomaston AvenueWaterbury, CT

Name: __________________________________________

Title: __________________________________________

Phone: __________________________________________

Email: __________________________________________

By: ___________________________________________ Signature

THE TRUSTED SOURCE FOR COMMERCIAL REAL ESTATE

No warranty or representation, express or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice and to any special listing conditions imposed by our principals.


EXECUTIVE SUMMARY PPG Industries · 2018. 8. 16. · company. Founded in 1883, PPG has global...

Documents

Transcript of EXECUTIVE SUMMARY PPG Industries · 2018. 8. 16. · company. Founded in 1883, PPG has global...