Hiram Square - Hiram GA 11

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HIRAM SQUARE Hiram, Georgia OFFERED BY: RYAN D. O’CONNELL P. 602.595.4000 [email protected] RDO INVESTMENTS Office 602.595.4000 Fax 602.467.3218 3219 East Camelback Road Phoenix, Arizona 85018 www.RDOinvestments.com Listed in conjunction with Gregory Fitzgerald TriOak Consulting Group BROKER OF RECORD License No. 297753

Transcript of Hiram Square - Hiram GA 11

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HIRAM SQUARE Hiram, Georgia

OFFERED  BY:    

RYAN  D.  O’CONNELL    

P.  602.595.4000  [email protected]  

           

 

RDO I N V E S T M E N T S

Office 602.595.4000 Fax 602.467.3218 ・ 3219 East Camelback Road ・ Phoenix, Arizona 85018 ・ www.RDOinvestments.com

Listed  in  conjunction  with    Gregory  Fitzgerald  

Tri-­‐Oak  Consulting  Group    BROKER  OF  RECORD    

License  No.  297753  

 

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The  information  contained  in  the  following  Marketing  Brochure  is  proprietary  and  strictly  confidential.  It  is  intended  to  be  reviewed  only  by  the  party  receiving  it  from  RDO  Investments,  LLC  and  should  not  be  made  available  to  any  other  person  or   entity  without   the  written   consent  of  RDO   Investments,   LLC.  This  Marketing  Brochure  has  been  prepared  to  provide  summary,  unverified  information  to  prospective  purchasers,  and  to  establish  only  a  preliminary  level  of   interest   in   the   subject  property.  The   information   contained  herein   is   not   a   substitute   for   a   thorough  due  diligence   investigation.   RDO   Investments,   LLC   has   not   made   any   investigation,   and   makes   no   warranty   or  representation,   with   respect   to   the   income   or   expenses   for   the   subject   property,   the   future   projected   financial  performance   of   the   property,   the   size   and   square   footage   of   the   property   and   improvements,   the   presence   or  absence  of  contaminating  substances,  PCB's  or  asbestos,   the  compliance  with  State  and  Federal   regulations,   the  physical  condition  of  the  improvements  thereon,  or  the  financial  condition  or  business  prospects  of  any  tenant,  or  any  tenant’s  plans  or  intentions  to  continue  its  occupancy  of  the  subject  property.  The  information  contained  in  this  Marketing  Brochure  has  been  obtained  from  sources  we  believe  to  be  reliable;  however,  RDO  Investments,  LLC  has  not  verified,  and  will  not  verify,  any  of  the  information  contained  herein,  nor  has  RDO  Investments,  LLC  conducted  any   investigation   regarding   these   matters   and   makes   no   warranty   or   representation   whatsoever   regarding   the  accuracy   or   completeness   of   the   information   provided.  All   potential   buyers  must   take   appropriate  measures   to  verify  all  of  the  information  set  forth  herein.      All  properties  visits  are  by  appointment  only.      

RDO I N V E S T M E N T S

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SITE:    Hiram  Square    LOCATION:    5157  Jimmy  Lee  Smith  Parkway  

   Hiram,  Georgia  30141    PROPERTY  TYPE:  Multi-­‐Tenant  Shopping  Center    TYPE  OF  OWNERSHIP:  Fee  Simple    LEASE  TYPE:    Net  Lease    OCCUPANCY:    91%    LIST  PRICE:    Make  Offer    

   Senior  Existing      CMBS  Loan                            

LOAN  BALANCE:  $  3,300,000.    INTEREST  RATE:  4.665%            AMORTIZATION:  30  Year    ANNUAL  INTEREST    $  152,848.    (thru  8/17)  PAYMENT:                          ANNUAL  P&I  PAYMENT:  $  204,548.    (starting  9/17)    NET  OPERATING  INCOME:  $  420,451.    

   SQUARE  FOOTAGE:  27,730  SF    LAND  AREA:    4.67  Acres    YEAR  BUILT:    2005    PARKING:    184    

   6  +/-­‐  per  1,000  sq.  feet  GLA    TRAFFIC  COUNTS:  39,000  +/-­‐  VPD  (Jimmy  Lee  Smith  Parkway)    FINANCING:    Existing  Non-­‐Recourse  Loan  must  be  assumed    

PROPERTY SUMMARY RDO I N V E S T M E N T S

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PROPERTY  OVERVIEW:        RDO  Investments  is  pleased  to  present  Hiram  Plaza,  a  fee  simple,  27,730  square  foot  multi-­‐tenant  retail  center  located  at  5157  Jimmy  Lee  Smith  Parkway  in  Hiram,  Georgia.  Hiram  is  a  northwestern  suburb  of  metro  Atlanta  approximately   25  miles   from   downtown.  The   subject   property   is   strategically   located   on   the   north   side   of  Jimmy   Lee   Smith   Parkway   (U.S.   Highway   278)   and   is   currently   91%   occupied.   The   property   is   positioned  between   two   signalized   intersections  with   four  points  of   ingress  and  egress.    Direct   access   is   located  off  of  Jimmy  Lee  Smith  Parkway,  as  well  as  thru  two  access  roads  at  lighted  intersections  to  the  east  and  west  of  the  property.    Directly  to  the  north  of  the  property  is  Hiram  Pavilion,  a  360,000  square  foot  Power  Center  anchored  by  Target,  Kohl’s,  Ross,  Marshalls,  Michaels,  Home  Depot,   and  PetSmart.    Hiram  Plaza  has   four  outparcels,  leased  to  Applebee's,  BB&T,  Jim  ‘N  Nick’s  BBQ  and  Cheeseburger  Bobby’s.    Hiram  Plaza  is  made  up  of  two  strip  centers  on  over  4.6  acres  of  land.          The  subject  property  is  surrounded  by  more  than  850,000  square  feet  of  retail  in  the  immediate  area.    Retailers  within   the   immediate  area   include:  Best  Buy,  JCPenney,  Discount  Tire,  Steak  n’  Shake,  Mattress  Firm,   IHOP,  O’Charleys,   Longhorn  Steakhouse,  Sam's  Club,  Home  Depot,   Five  Below,   Party  City,   PetSmart,  Dollar  Tree,  Kirkland's,  Bank  of  America,  Chili's,  Buffalo  Wild  Wings,  Starbucks,  Ross,  Target,  Kohl's,  Chase,  SunTrust,  ALDI,  Carmike  Cinemas,  Academy  Sports,  Hobby  Lobby  and  WellStar  Paulding  Hospital  (recently  acquired  by  Emory  University  Healthcare).  

PROPERTY SUMMARY Hiram Square – Hiram, GA RDO

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 Based  upon  the  2010  Census,  the  national  demographics  consulting  firm  Claritas  has  estimated  that  for  2017  there   are   approximately   86,689   residents   and   29,925   households   with   a   five-­‐mile   radius   of   the   Property.    According  to  Claritas,  the  average  household  income  with  a  five-­‐mile  radius  of  the  Property  was  estimated  to  be  $86,046.    Growth  with  in  the  area  increased  over  81%  within  a  1  mile  radius  from  2000-­‐2017  and  is  expected  to  increase  another  8%  within  the  next  five  year  according  to  Claritas.      

LOCATION  OVERVIEW:      The  Atlanta  MSA   is  made  up  of   28   counties  which  has   seen  an   increase   in  population   to   a   staggering  5.3M  residents  in  2016.    The  growth  within  this  MSA  has  skyrocketed  to  24%  over  the  last  decade  which  has  added  over  one  million  new  residents.    It  is  forecasted  that  by  2020,  the  population  will  have  increased  to  six  million  residents.          Established   in   1891   as   a   sleepy,   rural   railroad   town,   the   City   of   Hiram   has   progressed   into   the   major  commercial  corridor  for  Paulding  County,  one  of  the  fastest  growing  counties  in  the  United  States.      Just   a   short   drive   northwest   of   Atlanta,   Hiram   blends   the   best   of   the   past,   present,   and   future.   Hiram's  downtown   business   district   offers   a   more   relaxed,   nostalgic   dining   and   shopping   experience   while   only   a  moment  away  from  an   impressive  and  growing  variety  of  modern  conveniences,   including  shopping,  dining,  and  entertainment.  

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 Mellow  Mushroom  Pizza  Bakers  is  a  pizzeria  that  was  established  in  Atlanta,  Georgia  in  1974  and  operates  as  a   restaurant   franchise   with   over   150   locations   throughout   the   United   States.   Its   headquarters   are   in  unincorporated  Fulton  County,  Georgia.      Mellow  Mushroom  specializes  in  pizza,  but  also  serves  calzones,  hoagies,  salads,  and  appetizers.  Pizza  is  sold  in  three  sizes,  but  slices  are  available  during  lunch  and  late  night  at  some  locations.  Some  Mellow  Mushrooms  deliver;  those  that  do  not  have  a  pick-­‐up  option.  They  often  feature  a   large  selection  of  beer,  typically  20-­‐40  beers  on  draft  and  50  or  more  bottles.  Each  store   is  decorated  differently  and  sometimes  there   is  a  unifying  theme   to   the   artwork.   Tie-­‐dye   and   colorful   mushrooms   are   a   common   theme   for   locations.   Some   stores  occasionally  feature  live  music,  trivia  competitions,  or  bingo.  The  franchise  aims  to  give  customers  a  "relaxing  yet   eclectic   dining   experience"  with   "easygoing   atmosphere   and   funky   decor"  Mellow  Mushroom   also   sells  branded  merchandise  and  clothing  on  their  website  Mellow  Gear  and  at  stores.          Liberty  Tax,  Inc.,  (Nasdaq:  TAX)  together  with  its  subsidiaries,  provides  tax  preparation  services  and  solutions  in  the  United  States  and  Canada.  The  company  also  facilitates  refund-­‐based  tax  settlement  financial  products,  such  as  refund  transfer  products,  refund-­‐based  loans,  and  personal  income  tax  refund  discounting,  as  well  as  provides   an   online   digital   Do-­‐It-­‐Yourself   tax   program   in   the  United   States.   Its   customers   include   taxpayers  who,  for  reasons  of  complexity,  convenience,  or  the  need  for  prompt  tax  refunds,  seek  assisted  tax  preparation  services.  Liberty  Tax,   Inc.  offers   its  products  and  services   through  a  network  of   company-­‐owned  offices  and  franchised   locations   under   the   Liberty   Tax,   Liberty   Tax   Service,   Liberty   Income   Tax,   Liberty   Canada,   and  SiempreTax+  brand  names.  The  company  was  formerly  known  as  JTH  Holding,   Inc.  and  changed  its  name  to  Liberty  Tax,   Inc.   in   July   2014.   Liberty  Tax,   Inc.  was   founded   in   1996   and   is   headquartered   in  Virginia  Beach,  Virginia.          Cartridge  World   is  a   locally  owned  chain  selling  recycled   ink  &  toner  cartridges   for  printers,  copiers  &  other  office  equipment.  Cartridge  World  is  the  world's  largest  ink  and  toner  retailer.  The  Company  offers  businesses  and  consumers  a  30-­‐40%  savings  on  all  major  brands  of  printer  cartridges.  Their  customers  are  supported  by  more  than  1,000  local  business  experts,  offering  unbiased  recommendations  for  printers  and  printing  supplies  that  help  your  home  or  office  print  smarter  and  save  money.          Cartridge  World   launched  the  cartridge   remanufacturing   industry  more   than  20  years  ago  and  has  grown  to  become  a  global  leader  by  delivering  high-­‐performance  printing  products  that  save  you  time,  money  and  the  environment.      Every  Cartridge  World  store   is  operated  by  an   independent  business  professional,  a   small  business  owner   in  your  community.      

TENANT OVERVIEW Hiram Square – Hiram, GA RDO

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 The   School   Box   opened   in   1990   when   David   and   Christine   Persson   had   a   vision   to   open   a   "hands   on"  Educational   store   for   teachers   and   parents.   Today,   The   School   Box   is   a   business   with   more   then   200  employees,  11  retail  locations,  national  catalog  and  website.  Headquartered  in  Kennesaw,  Georgia,  The  School  Box  is  the  Southeast's  largest  family-­‐owned  and  operated  retail  educational  store.      The  vision  began  when  Christine  began  teaching  first  grade  in  Marietta,  Georgia.  David  realized  the  need  for  quality  educational  stores  after  spending  many  hours  shopping  with  his  wife.  After  several  years  of  researching  and  educating,  David  and  Christine  opened  their  first  store   in  Marietta,  Georgia.  Over   the  years,  The  School  Box  has  grown  to  11  stores  in  Georgia,  Tennessee,  and  Virginia.      The   School   Box   has   established   itself   as   a   well-­‐respected   business   and   supportive   corporate   citizen.   We  continue   to   support   a   number   of   local   events   including:   Cure   Childhood   Cancer,   Children's   Restoration  Network,  and  Toys  for  Tots  Tennessee.  Throughout  the  year  they  also  make  numerous  donations  to  schools,  church  groups,  charitable  organizations  and  more.            Yogli  Mogli   is  a  premium  frozen  yogurt  store  that  offers  a  variety  of  nutritional  yogurt  flavors   in  a  self  serve  environment.  You  also  have  the  choice  to  top  off  your  yogurt  with  a  wide  variety  of  options  from  fruits  to  nuts  to  gummy  worms        Criterion  Diamonds  is  one  of  Atlanta's  premier  jewelry  manufacturers  and  retailers  specializing  in  purchasing  gold,  silver,  diamonds,  jewelry,  flatware,  silverware,  and  coins.        They   design,   manufacture   and   repair   jewelry   on-­‐site,   eliminating   the   middle   man   therefore   offering  confidence  and  value  to  their  customers.  Criterion  Diamonds  does  more  than  just   jewelry.  The  Company  will  also  service  and  repair  watches  including  brands  such  as  Rolex  and  Movado.            

TENANT OVERVIEW Hiram Square – Hiram, GA RDO

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AERIAL/RETAILER MAP Hiram Square – Hiram, GA RDO

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SITE

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PHOTOS Hiram Square – Hiram, GA RDO

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PHOTOS Hiram Square – Hiram, GA

Not  a  Part  

RDO I N V E S T M E N T S

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PHOTOS Hiram Square – Hiram, GA

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RENT ROLL Hiram Square – Hiram, GA RDO

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CASH FLOW Hiram Square – Hiram, GA RDO

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LOAN SUMMARY Hiram Square – Hiram, GA

Not  a  Part  

RDO I N V E S T M E N T S

Hiram  Square   is  encumbered  by  an  attractive  existing  CMBS  loan  that   is  assumable  by  the  Purchaser.    The  loan  is  interest  only  until  in  August  2017.          

 Originator:    Barclays  Bank    

 Servicer:    PNC    

 Current  Principal  Balance:  $3,300,000.    

 Original  Principal  Balance:  $3,300,000.    

 Origination  Date:  June  25,  2015    

 Interest  Rate:    4.665%    

 Amortization:    30  Year    

 Monthly  Interest:  $12,828.    

 Monthly  P&I:    $17,045.        Maturity  Date:    July  1,  2025  

   Loan  Assumption  Fee:  1%  

   Payoff  Lock  Out  Period:  August  2017  

   Monthly  Tax/Insurance    Reserve:    $3,720.  (LL  shall  fund  1/12  of  Tax/Insurance          reserves  per  month)        Monthly  Tax/Insurance    Reserve  Balance  (8/1/16):  $29,067.          

   Monthly  TI/LC  Reserve:  $2,658.            Monthly  TI/LC  Reserve      Balance  (8/1/16):  $59,727.  *  

   *  Loan  requires  Borrower  to  make  monthly  deposits  into  TI/LC  Reserve  Account  in  an  amount  equal  to  $1.11  psf  per  annum.    The  TI/LC  Reserve  Account  shall  be  capped  at  $99,828.    Lender  shall  make  disbursements   from   the   TI/LC   reserve   Account   for   approved   tenant   improvements   and   leasing  commissions  at  the  Property  in  accordance  with  the  loan  documents.      

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SITE PLAN Hiram Square – Hiram, GA RDO

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LOCATION MAP Hiram Square – Hiram, GA RDO

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DEMOGRAPHICS Hiram Square – Hiram, GA RDO

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Descrip.on   1  Mile  Radius   3  Mile  Radius   5  Mile  Radius  Total   Total   Total  %   %   %  

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DEMOGRAPHICS Hiram Square – Hiram, GA RDO

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Descrip.on   1  Mile  Radius   3  Mile  Radius   5  Mile  Radius  Total   Total   Total  %   %   %  

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CONTACT Hiram Square – Hiram, GA

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Ryan D. O’Connell RDO Investments

3219 East Camelback Road Phoenix, Arizona 85018

P. 602-595-4000 F. 602-467-3218 M. 602-790-9036

E. [email protected]

 

RDO I N V E S T M E N T S