SALE/LEASEBACK SILVER STREET INVESTMENT DELTA, …
23
SALE/LEASEBACK INVESTMENT OFFERING 215 SILVER STREET DELTA, COLORADO 81416 LOCATED IN OPPORTUNITY ZONE HOME Executive Summary PAGE 3-4 Property Description PAGE 5-9 Tenant Information PAGE 20-21 Investment Highlights PAGE 18-19 Location Overview PAGE 10-17 Team Contacts PAGE 22
Transcript of SALE/LEASEBACK SILVER STREET INVESTMENT DELTA, …
SALE/LEASEBACKINVESTMENT
OFFERING
215 SILVER STREETDELTA, COLORADO 81416
LOCATED IN OPPORTUNITY ZONE
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
CONFIDENTIALITY & DISCLAIMER
INVESTMENT CONTACTS
BRYAN FRYDirector+1 303 312 [email protected]
DREW MCMANUS, SIOR
Managing Director+1 303 813 [email protected]
RYAN SEARLEDirector+1 303 813 [email protected]
JOHN RENFROWRenfrow Realty+1 970 249 [email protected]
The material contained in this Offering Memorandum is confidential and for the purpose of considering the purchase of the Real Estate described
herein. It is subject to the terms and provisions of the Confidentiality Agreement signed by the recipient of this material, and is not to be used
for any purpose or made available to any other person without the express written consent of Cushman & Wakefield, Inc. (“Broker”).
This Offering Memorandum was prepared by Broker solely for the use of prospective purchasers of 215 Silver Street, Delta, Colorado
(the “Real Estate”). Neither Broker, the “Seller” nor any of their respective officers, employees or agents, make any representation or
warranty, express or implied, as to the completeness or the accuracy of the material contained in the Offering Memorandum or any of
its contents, and no legal commitments or obligations shall arise by reason of this package or any of its contents. Seller reserves the
right to eliminate any portion or all of the Real Estate from any offer for sale at any time prior to the completion of a binding contract
of sale executed by both Seller and a prospective purchaser.
Prospective purchasers of the Real Estate are advised (i) that changes may have occurred in the condition of the Real Estate
since the time of this Offering Memorandum or the financial statements therein were prepared and that (ii) all financial projec-
tions are provided for general reference purposes only in that they are based on assumptions relating to the general economy,
competition, and other factors beyond the control of Broker and the Seller and, therefore, are subject to material variation.
Prospective purchasers of the Real Estate are advised and encouraged to conduct their own comprehensive review and
analysis of the Real Estate.
The Offering Memorandum is a solicitation of interest only and is not an offer to sell the Real Estate. The Seller and
Broker expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to
purchase the Real Estate, and expressly reserve the right, at their sole discretion, to terminate discussions with any
entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity
reviewing the Offering Memorandum or making an offer to purchase the Real Estate unless and until a written
agreement satisfactory to the Seller has been fully executed, delivered, and approved by the Seller and any
conditions to the Seller thereunder have been satisfied or waived. This Offering Memorandum is confidential.
By accepting the Offering Memorandum, you agree (i) that you hold and treat the Offering Memorandum
and its contents in the strictest confidence and in compliance with the Confidentiality Agreement, (ii)
that you will not photocopy or duplicate any part of the Offering Memorandum, (iii) that you will not
disclose the Offering Memorandum or any of its contents to any other entity without the prior written
authorization of Broker, and (iv) that you will not use the Offering Memorandum in any fashion or
manner detrimental to the interest of the Seller or Broker.
The terms and conditions stated in this section will relate to all of the sections of the package
as if stated independently therein. If, after reviewing this package, you have no further interest
in purchasing the Property at this time, kindly return this brochure to Broker at your earliest
possible convenience.
PAGE 2
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
PAGE 3
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
EXECUTIVE SUMMARY
EXECUTIVE SUMMARYTHE OFFERING
215 SILVER STREET / DELTA, COLORADO 81416
OCCUPANCY 100%
BUILDING (SQUARE FEET) 63,613
SITE (ACRES) 6.2
LOADINGFour (4) dock-high doors
Three (3) drive-in doors
PARCEL NUMBER 34571333 1002
ZONINGIndustrial
Industrial/Residential
TAXES (2018) $20,581 ($0.27/SF)
215 Silver Street in Delta, Colorado, is located
just minutes from Highway 50 approxi-
mately half way between Grand Junction
and Montrose.
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to
acquire 215 Silver Street in Delta, Colorado, on the basis of a sale leaseback transaction.
This is a warehouse and distribution building consisting of approximately 63,613 SF on
a 6.2 acre site located in Delta on Colorado’s western slope. The building provides a
fantastic opportunity for investors looking to invest in an up and coming industrial
market that is located in an Opportunity Zone.
PAGE 4
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
PAGE 5
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
PROPERTY DESCRIPTION
PROPERTY DESCRIPTIONOVERVIEW
BUILDING SPECIFICATIONS
TOTAL SF63,613 SF
SITE SIZE6.2 Acres
OFFICE AREA±2,400 SF
YEAR BUILTVarious
ZONINGIndustrial
Industrial/Residential
2018 PROPERTY TAXES$20,581 ($0.27/SF)
CLEAR HEIGHT11’ - 25’ Clear
LOADING 4 Dock-high doors 3 Drive-in doors
POWER 3-Phase
PAGE 6
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
PROPERTY DESCRIPTIONFLOOR PLANS: 1ST FLOOR WAREHOUSE / 2ND FLOOR OFFICES
N
NN
Property from North with 4 Dock-
high/Overhead Doors
Property’s Entrance from East with
Roll-up Door and Office Above
1800 sq ft
New Truck BypassAccess to Property from East off the Truck Bypass Property Runs Directly Adjacent to New Truck Bypass
for .1 Mile (MOL)
Frontage Road
Looking Along Eastside of Warehouse
Fenced Yard
Pa
rcel 8
Parcel 2: 215 Silver St.
25’ Ceiling Height
PAGE 7
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
PROPERTY DESCRIPTIONFLOOR PLANS
Delta, CO 81416
Created by John Renfrow / Joey Huskey
NN
* Dimensions are approximate, not drawn to scale.
Parcel 8 Warehouse from the Southeast
Parcel 8 & Adjacent Parcel 9 from the South
Parcel 2 Parcel 8: 215 Silver St.
New Truck Bypass
Frontage Road
Fenced Yard
Parcel 8 & Adjacent Parcel 9 from NorthParcel 9:Newly Remodeled Shop, 2 Drive-in/Overhead Doors
25’ Ceiling Height
11’ Ceiling
Height
76’ x
50’
Parcel 9: 500 W 2nd St.
PAGE 8
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
PROPERTY DESCRIPTIONSITE PLAN
N
PAGE 9
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
PAGE 10
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
LOCATION OVERVIEW
LOCATION OVERVIEWDEMOGRAPHICS
DELTA, COLORADO
Delta, Colorado is on the Western Slope of the Rock
Mountains and is surrounded by mountains, rivers,
orchards and ranches.
Delta is right off the famous US Route 50, which crosses
12 states, connecting Delta with Sacramento, California
and Ocean City, Maryland. Delta features great rural
lifestyle, one of the best in the west. It’s a very popular
travel destination, few cities in the west offer outdoors
sight seeing opportunities like Delta. Delta County’s
competitive advantages include its open land, temperate
climate, low cost of labor and housing, good schools,
and outdoor beauty.
Delta County’s economy is in transition, and poised to
capitalize on its inherent assets, which are even more
valuable in the current economy. The county’s largest
employers are currently public education, agriculture,
and retail trade.
But the recent installation of gigabit Broadband
Internet in the county is drawing many telecommuters
and analysis suggests business in Delta County is also
moving toward organic agriculture, agritourism and
manufacturing.
Delta County Economic Development (DCED) works
to support local businesses to expand and stay in Delta
County and to establish new businesses in Delta County.
Source: deltaco.org
DELTA COUNTY DEMOGRAPHICS
2015 Population: 30,953
Median HH Income: $42,487
Median House Cost: $206,200
Employment: 6.950
PAGE 11
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
DELTA COUNTY COLORADO
Delta County is ideally & centrally situated on the Western Slope just 35 miles east of
Grand Junction and 25 miles west of Montrose. Highway 50 and Highway 92 being the
main roadways, along with Highway 65 which travels the Grand Mesa. Union Pacific
Railroad operates through Delta County also.
Delta County has many strong attributes including great regional partnerships, quality
schools, an award winning hospital system, and strong partnerships between private
and public partners. Here we have a skilled workforce, with resilient partnerships
between local employers and the Technical College of the Rockies and ENGAGE to
train employees. ENGAGE is a multifaceted initiative that leverages and creates the
resources necessary for innovation and entrepreneurship. Conveniently located about
half way between Denver, Colorado and Salt Lake City, Utah, Delta County enjoys a low
cost of living compared with the greater Denver metro area and nationwide. Housing
is affordable with the County’s median sales price at $187,500 as of December 2017.
Population (2016) 30,471
Median Household Income $42,452
Average Weekly Wage $675
Total Work Force 18,675
Total Delta County Jobs 12,476
Participation rate 65.47%
Unemployment 4.28%
DELTA COUNTY FAST FACTSAGE DISTRIBUTION BY % OF POPULATION
Under 19
20-39
40-59
60-79
80+
Delta County’s workforce is drawn from a larger region. The relationship between
Delta, Montrose, and Mesa Counties is very strong. Delta County’s participating
work-force is approximately 12,476.
The participating workforce in Mesa County and Montrose counties is an additional
105,786 workers.
About 10% of Delta County’s workforce comes from its neighboring communities.
DELTA COUNTY WORKFORCE
COST OF LIVING INDEX
Category Delta Denver USA
OVERALL 91 115 100
GROCERY 98.4 97.2 100
HEALTH 103 110 100
HOUSING 79 148 100
UTILITIES 92 90 100
TRANSPORTATION 96 93 100
MISCELLANEOUS 97 104 100
In 2017, Colorado State University
(CSU) opened Rogers Mesa,
an on-going research site with
60 acres of arable land. Rogers
Mesa is part of a 3 site program.
This includes a learning/research
center with kitchen and classroom
in Orchard Mesa and a research
center focusing on traditional
research techniques in Fruita.
DELTA BASE INDUSTRIES2016
8%
17%
5%
22%6%5%
6%
26%
Transfer Payment
Agriculture
Manufacturing
Mining
Government
Regional Service
Retiree
Other Household
Commuter
Tourism
LOCATION OVERVIEWDATA
PAGE 12
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
LOCATION OVERVIEWECONOMIC DEVELOPMENT
TAKEAWAYS
• As of 2019 the region's popula$on increased by 3.6% since 2014, growing by
1,079. Popula$on is expected to increase by 2.6% between 2019 and 2024,
adding 806.
• From 2014 to 2019, jobs increased by 2.8% in Delta County, CO from 10,084 to
10,366. This change fell short of the naonal growth rate of 6.9% by 4.1%. As the
number of jobs increased, the labor force parcipaon rate increased from 55.5%
to 60.8% between 2014 and 2019.
• Concerning educatonal attainment, 13.4% of Delta County, CO residents
possess a Bachelor's Degree (5.5% below the natonal average), and 7.2% hold
an Associate's Degree (0.9% below the natonal average).
• The top three industries in 2019 are Educa$on and Hospitals (Local
Government), Individual and Family Services, and Restaurants and Other
Eatng Places
31,044POPULATION (2019)
Population grew by 1,079 over the last 5
years and is projected to grow by 806
over the next 5 years.
10,366TOTAL REGIONAL EMPLOYMENT
Jobs grew by 282 over the last 5 years
and are projected to grow by 781 over
the next 5 years.
$42.5KMEDIAN HOUSEHOLD INCOME (2017)
Median household income is $15.2K
below the national median household
income of $57.7K.
PAGE 13
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
DESIGNATED OPPORTUNITY ZONES
The Opportunity Zones Program was
enacted as part of the 2017 tax reform
package (Tax cuts and jobs act) to address
uneven economic recovery and persistent
lack of growth that have left many commu-
nities across the country behind. In the
broadest sense, the newly enacted federal
Opportunity Zone program provides a
tax incentive for investors to reinvest
unrealized capital gains into pow-income
urban and rural communities. In Colorado,
Opportunity Zones may help address a
number of challenges:
• Promoting economic vitality in parts
of the state that have not shared in the
general prosperity over the past few
years
• Funding the development of workforce
and affordable housing in areas
with escalating prices and inventory
shortages
• Funding new infrastructure to support
population and economic growth
Investing in startup businesses who have
potential for rapid increases in scale and
the ability to “export” outside the state of
Colorado
Upgrading the capability of existing
underutilized assets through capital
improvement investments
This economic and community devel-
opment tax incentive program provides
a new impetus for private investors to
support distressed communities through
private equity investments in businesses
and real estate ventures. The incentive is
deferral, reduction and potential elimi-
nation of certain federal capital gains taxes.
US investors currently hold trillions of
dollars in unrealized capital gains in stocks
and mutual funds alone - this is a signif-
icant untapped resource for economic
development.
Opportunity Funds which invest in Oppor-
tunity Zones provide investors the chance
to put that money to work rebuilding the
nation’s distressed communities. The fund
model will enable a broad array of private
equity fund managers and investors to
pool their resources, increasing the scale
of investments going to under-served
areas.
Source: deltacountyed.org
LOCATION OVERVIEWOPPORTUNITY ZONE
DELTA
PAGE 14
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
SIL
VE
R S
T.
CO
NF
LU
EN
CE
DR
.
MA
IN S
T.
MA
IN S
T.
CONFLUENCE LAKE
1ST ST.
2ND ST.
3RD ST.
4TH ST.
N
LOCATION OVERVIEWAERIAL
215SILVER
PAGE 15
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
CO
NFLU
ENCE D
R.
LOCATION OVERVIEWAMENITIES MAP
N
215SILVER
PAGE 16
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
DELTA BUSSTATION
FIESTA FIESTA VALLARTAVALLARTA
EGYPTIANEGYPTIANTHEATRETHEATRE
LOCATION OVERVIEWDRIVE TIMES, DISTANCE & ACCESS
215SILVER
N
Distance to Interstates Source: Google
Interstate Distance
HIGHWAY 50 2 MILES
HIGHWAY 92 .4 MILE
I-70 38 MILES
Drive Times & Distance Source: Google
Destination Drive Times Distance
GRAND JUNCTION 44 MINUTES 39 MILES
MONTROSE 29 MINUTES 23 MILES
DENVER 4-1/2 HOURS 275 MILES
PAGE 17
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
PAGE 18
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
INVESTMENT HIGHLIGHTS
INVESTMENT HIGHLIGHTSOVERVIEW
THE OPPORTUNITY
Cushman & Wakefield, as exclusive
advisor, is pleased to present the
opportunity to acquire 215 Silver Street
in Delta, Colorado. This is an industrial
property consisting of nearly 63,613 SF
on a 6.2 acre site located on Colorado’s
Western Slope. The current owner wishes
to sell the property and lease it from the
new owner.
Delta County is located right off of U.S.
Route 50, which crosses twelve states,
connecting Delta with Sacramento,
California, and Ocean City, Maryland.
Located on the Western Slope of the
Rocky Mountains, Delta is just 35 miles
from Grand Junction and 25 miles from
Montrose.
RECOGINIZABLE TENANT
The building is currently 100% occupied
by Waste Farmers. This will be a single-
tenant, triple net-leased investment
opportunity. Waste Farners has occupied
the property since 2016.
The property is being offered for
$2,000,000 or a 10% capitalization rate
on the predicted net operating income.
The assumptive starting base rent for
the leaseback is $3.15/SF NNN with 3%
annual escalations on a minimum of a five
(5) year lease term. Terms of the lease to
be negotiated between Buyer and Seller.
LOCATION & ACCESS TENANT AT A GLANCE PRICING
PAGE 19
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
PAGE 20
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
TENANT INFORMATION
WASTE FARMERS
Waste Farmers is the first regenerative holding
and operating company. Waste Farmers is a new
kind of conglomerate. We’re the first regenerative
holding and operating company.
We develop people, businesses, and brands who
transform emerging social and environmental
needs into market-based opportunities.
Today we generate $275K in MRR, have 3 active
brands built and sold the first and largest compost
collection solution in Colorado. Waste Farmers
has been growing across our key metrics and seen
a 62% CAGR since 2012–our flagship substrate
brand now has 40% market share in Colorado and
are now rapidly expanding into 15+ states.
Additionally, we were just informed that we earned
a spot on the RL100, the first ranking of positive
impact companies in North America.
OUR PURPOSE
We are cosmic journey people seeking solutions
inspired by natural systems, human potential
and intuitive imagination with the intention of
enhancing the biosphere, local communities and
ones authentic life.
OUR VALUES
• Use passion to fuel change, allow imagination to
drive it, and take pride in the vessel.
• Don’t be afraid to take the contrarian point of view.
• Believe there is more than less but trust that less is
more.
• Don’t be “right,” seek truth.
• Strength through diversity, life builds life.
• Trust your gut, listen, and always ask questions.
• Civil disobedience through self-reliance.
• The only productive move is to move forward.
• Power ceases in the instant of repose.
• Take time for tea.
OUR BRANDS
A balanced portfolio of businesses focused on
adding value to our stakeholders in the near-term
and long-term.
TENANT INFORMATIONTENANT SUMMARY
PAGE 21
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
PAGE 22
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
TEAM CONTACTS
215 SILVER STREET TEAM
© 2020 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS 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 THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE.
INVESTMENT CONTACTSDREW MCMANUS, SIORManaging Director+1 303 813 [email protected]
BRYAN FRYDirector+1 303 312 [email protected]
JOHN RENFROWRenfrow Realty+1 970 249 [email protected]
1401 Lawrence Street, Suite 1100 Denver, Colorado 80202T +1 303 292 3700 F +1 303 534 8270cushmanwakefield.com
1832 S. Townsend AvenueMontrose, Colorado 81401T +1 970 240 0550F +1 970 249 5887renfrowrealty.com
RYAN SEARLEDirector+1 720 260 [email protected]
PAGE 23
HOME
Executive Summary
PAGE 3-4
Property DescriptionPAGE 5-9
Tenant Information
PAGE 20-21
InvestmentHighlights
PAGE 18-19
Location Overview
PAGE 10-17
Team Contacts
PAGE 22
