Tire Discounters Sale Leaseback Opportunity

Tire Discounters Sale Leaseback Opportunity

Confidential offering memorandumJLL has been exclusively retained to market for sale the fee-simple interest of the 4,356 square foot retail building located in Cincinnati, Ohio (the “property”).

4,356 s.f. retail opportunity

6303 Colerain Ave. Cincinnati, OH 45239

JLL has been exclusively retained to market for sale the fee-simple interest of 6303 Colerain Avenue located in Cincinnati, Ohio (the “property”).

The offering is a single-tenant building totaling 4,356 square feet, which is currently owned by Tire Discounters. Tire Discounters plans to sell the Property, and leaseback the Property for ten years.

Address 6303 Colerain AvenueCincinnati, OH 45239

Product Type Retail

Square Footage 4,356

Site Size 0.548 acres

Year Built 1991

Occupancy 100.0%

Number of tenants 1

Parking ratio 6.0/1,000 s.f. (26 spaces)

Zoning PD-B

PROPERTY DETAILS

Introduction

2 | Tire Discounters - Sale Leaseback Opportunity

PROPERTY PHOTOS

5 minute drive time

10 minute drive time

20 minute drive time

City of White Oak

Total population 22,951 91,726 539,765 18,943

Total households 9,794 38,907 226,931 7,856

Median age 38.2 39.6 37.2 41.0

Average household income $63,576 $70,659 $68,145 $89,289

Total businesses 492 2,493 20,776 468

Daytime population 4,896 27,680 433,172 4,341

DEMOGRAPHICS


Colerain Ave.

Earl

Rd.


Golfway Acres

White Oak

Colerain Avenue

Pipp

in R

oad

Chev

iot R

oad

Banning Road

Kipling Avenue

Wes

t Nor

th B

end

Road

Blue Rock Road

• Conveniently located with easy access to Colerain Avenue

• White Oak is part of the Cincinnati MSA with a total population of 2.2 million in fifteen counties across Ohio, Kentucky and Indiana

• The Cincinnati MSA is ranked 24th largest in the USA

Location Highlights

Cincinnati

West Chester

Florence

Covington

Delhi

Norwood

Fort Thomas

Springdale

Reading

Newport

Sharonville Sycamore

Forest Park

Blue Ash

Loveland

Erlanger

Montgomery

Avondale

Hartwell

Millvale

California

Clifton

Linwood

Madisonville

Mount Washington

Mount Airy

Northside

EvanstonWestwood

Cole

rain

Ave

.

Blue Rock Rd.

Proposed Lease Structure

Tenant Name: Tire Discounters, Inc.

Tenant s.f.: 4,356 s.f.

Term: Ten (10) years

Lease Commencement: At closing

Lease Expiration: Ten (10) years from commencement

Annual Base Rent: Years 1-5: $103,680 / year

Years 6-10: $108,864 / year

Lease Type: Absolute NNN

Operating Expenses: Tenant is responsible for all operating expenses

Maintenance & Repair: Tenant is responsible for all necessary repairs and replacements, including but not limited to

roof, structure, HVAC and parking lot

Utilities: Tenant is responsible and shall pay directly

Renewal Options: Four (4) - Five (5) year options with 120 days prior written notice. Annual rents shall be as follows:

Option Period 1: $114,307.20 / year




Lease: Tire Discounters to provide lease draft


• Tire Discounters is an Ohio based corporation, headquartered in Cincinnati, Ohio

• 130+ stores (and counting) with 6-10 bays per store providing tires, wheels and auto services

• Store footprint ranges from Ohio, Kentucky, Indiana, Tennessee, Georgia, and Alabama, with locations in Cincinnati, Columbus, Dayton, Indianapolis, Knoxville, Lexington, Louisville, Nashville, Chattanooga and Huntsville. Tire Discounters has two warehouses, one in Sharonville, OH and one in La Vergne, TN.

• Fastest growing tire chain in the Midwest. Currently employs more than 1,300+ people

• Seventh largest independent tire dealer in the U.S. by Modern Tire Dealer national rankings

For additional information, visit https://www.tirediscounters.com/

Tenant summary


Based in Cincinnati, Ohio, Tire Discounters provides tires, wheels and auto services in over 130 shops across America. Offering industry-leading innovations, Tire Discounters is the fastest growing tire chain in the Midwest and seventh largest independent tire dealer in the U.S.

Services include new tires, alignments, oil changes, brakes, custom wheels, shocks and struts, performance upgrades, batteries and other automotive services for both personal and fleet vehicles. Tire Discounters employs more than 1,300 people throughout Ohio, Kentucky, Indiana, Tennessee, Georgia and Alabama.

Quick Facts

Cincinnati has a diverse concentration of organizations in key industry clusters, including aerospace, consumer goods, financial services, biotechnology, advanced energy, marketing and branding, automotive and IT services. The region’s strength in these industries serve as a competitive advantage for companies in those fields. Cincinnati’s central location and access to key logistics corridors also offer companies of all sizes exceptional access to customers and suppliers across the globe.

LOCATIONThe Greater Cincinnati market consists of fifteen counties located over a three-state area in Ohio, Kentucky, and Indiana. The region’s central location provides easy access to 2.2+ million people in the area, 25 of the largest metro regions, and more than half of all U.S manufacturing establishments. Notably, Cincinnati and The Property are located within 600 miles and one-day drive of 54% of the nation’s total population and purchasing power.

AIRLocated only 12 miles from the Central Business District, Cincinnati/ Northern Kentucky International Airport (CVG) is one of the top facilities in the country in terms of passenger service and convenience. The airport offers a variety of travel and shipping options with more than 80 daily nonstop flights to North America and Europe. A major node for domestic travel, CVG is a 90-minute flight from more than 40 percent of the purchasing power in the U.S. In 2015, CVG was ranked the second best North American regional airport for the fifth year in a row. It also earned the title of sixth best regional airport in the world and fourth best airport staff in North America.

CVG is home to DHL’s global hub connecting businesses in the region to more than 100 DHL service centers and five international gateways in the U.S. Notably, DHL’s global hub processes more than two million international shipments monthly to the U.S., Canada, Mexico and Latin America. CVG is also home to Amazon’s primary cargo hub which just brought over 2000 jobs to the area. The Property is conveniently located 21 miles from CVG.

HIGHWAYCincinnati is well-connected to all major regional markets via multiple interstates; 20 major metro areas are located within 400 miles and are served by one-day truck driving time, with access to 30 additional markets by second day service. Three interstate highway systems (I-75, I-74, and I-71) and two interstate corridors (I-275 and I-471) serve the Cincinnati region and provide access to all geographic directions. I-75, the major Midwest route from Michigan to Florida, is vital to the region’s highway structure with almost 150,000 vehicles per pay pass through Cincinnati. Trucking is also a key factor to Cincinnati’s success as a distribution point with more than 900 interstate motor freight carriers and 29 freight forwarders. The Property is located 0.3 miles from Interstates 71 and 75.

Regional Economy


FOR MORE INFORMATION CONTACT:

Jones Lang LaSalle312 Walnut StreetSuite 3030Cincinnati, OH 45202

jll.com

DISCLAIMERThe information contained in this Offering Memorandum is confidential and is provided for the sole purpose of allowing persons to evaluate whether there is interest in proceeding with further discussions with the owner regarding a possible transaction with respect to 6303 Colerain Avenue, Cincinnati, Ohio (the “Property”). The information contained herein shall not be photocopied or disclosed to any other party and shall not be used for any other purpose. If the person receiving this Offering Memorandum does not choose to pursue such a transaction, this Offering Memorandum shall be returned to Jones Lang LaSalle (“JLL”).

Neither the owner, nor JLL, nor any of their officers, directors, employees or agents, assume any responsibility or make any representations or warranties, whether express or implied, by operation of law or otherwise, with respect to the Property or this Offering Memorandum or any information or statements (including financial statements and projections) contained herein or relating hereto, including the accuracy or completeness of such information or statements and the condition, quality or fitness of the Property. Such information and statements have in many circumstances been obtained from outside sources, have not been tested or verified and may be subject to errors or omissions. Projections, in particular, are based on various assumptions and subjective determinations as to which no guaranty or assurance can be given. Without limiting the foregoing, in the event this Offering Memorandum contains information relating any hazardous, toxic or dangerous materials in relation to the Property, such information shall in no way be construed as creating any warranties or representations, express or implied, by operation of law or otherwise, by any party, as to the existence or non-ex-istence or nature of such materials in, under, on or around the Property. Potential investors are urged to perform their own examination and inspection of the Property and information relating to same, and shall rely solely on such examination and investigation and not on this Offering Memorandum or any information or materials contained herein or otherwise provided.

The only party authorized to represent the owner of the Portfolio is JLL, and the owner shall not be obligated to pay any fees or commissions to any other advisor, broker or representative. Any party entering into a transaction with the owner shall be obligated to pay any fees or commissions due any advisors, brokers or representatives, other than JLL, dealing with such party. This Offering Memorandum is provided subject to prior sale or lease, change of price or terms and other changes to the materials, state-ments and information contained herein or relating to the Property, and is subject to withdrawal, all without notice or any liability. In no event shall the delivery or receipt of this Offering Memorandum be deemed to create any legal obligation to enter into any transaction with respect to the Property, and only a definitive agreement.

Tire Discounters Sale Leaseback Opportunity6303 Colerain Ave. Cincinnati, OH 45239

Tom FairhurstSenior Vice [email protected]+1 513 297 2511

Giorgio Karras Vice [email protected]+1 513 719 3720

Kevin Thobe Vice [email protected]+1 513 252 2189

Tire Discounters Sale Leaseback Opportunity

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