7-Eleven Shopping Center-Canton, MI-OM · 7-Eleven Shopping Center • Canton, MI. TABLE OF CONTENTS 3 Executive Summary 5 Tenant Profile 6 Rent Roll 8 Proforma 9 Location Map 12

27995 Halsted Road, Suite 150Farmington Hills, MI 48331

Phone: (248) 488-2620

landmarkinvestmentsales.com

7-ELEVEN SHOPPING CENTER44285 Ford Rd, Canton, MI

CONTACT US

LOUIS J. CIOTTI

Senior [email protected]

(248) 488-2620

SCOTT SONENBERG

[email protected]

(248) 488-2620

OFFERING MEMORANDUM

2

CONFIDENTIALITY DISCLAIMERLandmark Commercial Real Estate Services, Inc. d/b/a Landmark Investment Sales (“BROKER”) has been retained by the Owner to sell the 100% fee simple title of thisasset. The Broker is the exclusive agent for the sale of this asset. The Broker has prepared the Property Information with information provided by the Owner, fromsources deemed to be reliable. The Potential Purchaser will conduct its own due diligence of The Property, independently and without reliance upon BROKER of theOwner. Information furnished herein, the Offering Memorandum (the “OM”) is intended solely for the Potential Purchaser and its affiliates (“Recipients”) for its reviewof the acquisition of the 7-Eleven Shopping Center located at the southeast corner of Ford Rd & Sheldon Rd in Canton, Michigan (“Property”).

All information in the OM (“Confidential Information”) shall be deemed confidential. Confidential Information shall not include any information which is generallyavailable to the public or which becomes available to the Recipients on a non-confidential basis from a source that is or was under no obligation not to disclose suchinformation.

In consideration of Broker and disclosure of the confidential information, the recipient shall not at any time, attempt in any manner to deal directly in any manner orcircumvent Broker.

Unless otherwise agreed in writing or required by law, the Recipients will not use, disclose, or reveal any Confidential Information for any purpose other than inconnection with the proposed transaction to any persons or entities other than those employees, officers, directors, bankers, advisors, representatives, or agents(collectively, “Representatives”) who clearly need such access to perform their employment, fiduciary or contractual duties to the Recipient and to actively and directlyparticipate in the evaluation of the Confidential Information. Additionally, Recipients shall not directly contact anyone directly associated with the Property withoutthe express written consent of the Owner or Broker.

Recipients agree not to contact or initiate contact with the Tenants, at any time, either directly or indirectly. Unless such approval is specifically granted in writtenfrom the Owner or Broker.

This agreement shall be governed by the laws of the Michigan, and in any action brought to enforce the terms hereof, Recipients hereby irrevocably consents tojurisdiction and venue in the Circuit Court for the County of Oakland, State of Michigan, or the United States District Court, whichever the Owner may elect. Theinvalidity or unenforceability of any provision of this agreement as applied to a particular occurrence or circumstance shall not affect the validity of or enforceability ofany of the other provisions of this agreement or the applicability of such provisions as the case may be. This agreement shall inure to the benefit of and may beenforced by the Owner and its successors and assigns and shall be binding on the Recipients, its officers, directors, partners, agents, members, representatives andsuccessors in interest. If any portion of this agreement becomes the subject of litigation or arbitration, the prevailing party in such suit or proceeding shall be entitledto reimbursement for its reasonable costs, expenses and attorney’s fees incurred, including those incurred in connection with any appeals. A copy of this agreementdelivered by facsimile transmission shall be binder on both parties.

7-Eleven Shopping Center • Canton, MI

TABLE OF CONTENTS

3

Executive Summary 5

Tenant Profile 6

Rent Roll 8

Proforma 9

Location Map 12

Survey 13

Largest Employers 14

Demographics 15

Our Team 16


VIEW SOUTHWEST


5

PRICINGPrice: $1,199,999.00

Cap Rate: 6.79%

NOI: $81,522.00

EXECUTIVE SUMMARY

PROPERTY DETAILS

Year Built: 1974

Gross Leasable Area: 3,510 SF

Land Area: 0.31 acre

Ownership: Fee Simple

Occupancy: 100%

Tax Parcel: 71-057-01-0001-000

Parking: 16 spots


INVESTMENT HIGHLIGHTSLOCATIONIrreplaceable location on one of Michigan’s busiest corridors. Thesubject property is situated on the hard corner of Ford Road & SheldonRoad with two points of ingress/egress.

CREDIT7-Eleven, Inc. consists of 70% of the shopping center and has beenoperating there since 2013. The brand 7-Eleven operates, franchises,and licenses 60,000 convenience stores in 18 countries.

TRADE AREAThe shopping center is located on Ford Road in Canton, MI. Ford Roadhas one of the highest concentration of retailers in the state. Theproperty is 3 miles away from Michigan’s only IKEA. There are twoTarget, Home Depot, Kohl’s, and PetSmart locations in Canton, whichspeaks to the city’s strength.

TENANT PROFILE

6

7-Eleven is an international chain of convenience storesthat operates, franchises, and licenses about 60,000stores in 18 countries.

Headquartered in Irving, TX. 89 year old company. Parent company: Seven & I Holdings Company

Tenant 7-Eleven, Inc.Premises Address 44285 Ford RdRentable Square Feet 2,460 SFPro Rata Share 70%Rent Commencement Date 5/14/2013Lease Expiration Date 5/31/2023Term Remaining 6 years

Rent One (1)- Five (5) - $49,008.00Six (6) – Ten (10) $50,160.00

Option PeriodsEleven (11) – Fifteen (15) years - $55,176.00Sixteen (16) – Twenty (20) years - $60,696.00

CAM/Operating Expenses Tenant pays prorata share except for controllable expenses which shall not increase by 5% on a non-cumulative basis.

Real Estate Taxes Tenant pays prorata share.

Insurance Tenant pays prorata share.Expansion NoneRight of First Refusal None

TerminationWith a fee of $50,000 tenant shall have the one time right to terminate the lease with 180 day notice prior to the end of the 5th

year of the term.Relocation None


VIEW NORTH


Total 100.00% 3,510 6,709.01$ 80,508.12$ 22.94$ 6,822.50$ 8,759.73$ 1,966.50$ 1,365.00$ 18,913.73$ 99,421.85$ 28.33$ Vacant 0.00% ‐

Occupied 100.00% 3,510

Minimum Rent Reimbursements

Tenant Name Pro‐Rata ShareSquare Footage Monthly Annual psf CAM

Real Estate Taxes Insurance

Management Fee Total Reimb.

Total Gross Revenue psf Expiration

7‐11 Inc 70.09% 2,460 4,084.01$ 49,008.12$ 19.92$ 4,781.58$ 6,139.30$ 1,378.23$ $682.50 12,981.61$ 61,989.73$ 17.66$ 5/31/2023Gede Suta d/b/a Sumo Grill 29.91% 1,050 2,625.00$ 31,500.00$ 30.00$ 2,040.92$ 2,620.43$ 588.27$ $682.50 5,932.12$ 37,432.12$ 10.66$ 10/31/2020

RENT ROLL


PROFORMA


Estimated In PlaceRevenue Annual psfMinimum Rent 80,508.12$ 22.94$ CAM 6,822.50$ 1.94 Real Estate Taxes 8,759.73$ 2.50 Insurance 1,966.50$ 0.56 Management Fee 1,365.00$ 0.39

Total Gross Revenue 99,421.85$ 28.33$

Operating ExpensesCAM 6,822.50$ 1.94$ Real Estate Taxes 8,759.73$ 2.50 Insurance 1,966.50$ 0.30

Total Operating Expenses 17,548.73$ 5.00$

Non‐Recoverable ExpensesCapEx Reserve ($0.10/sf) 351.00$ 0.10

Total Non‐Recoverable Expenses 351.00$ 0.10$

Total Expenses 17,900$ 5.10$

Net Operating Income 81,522$ 23.23$

VIEW NORTHWEST


VIEW NORTHEAST


LOCATION

12

TRAVERSE CITY

JACKSON

DETROIT

GRANDRAPIDS FLINT

ANN ARBOR

LANSING

KALAMAZOO

7-ELEVEN Shopping CenterSouth East Corner of Sheldon & Ford Rd, Canton, MI

SAGINAW

LINCOLN PARK

AUBURN HILLS


CANTON

SURVEY


WAYNE COUNTY’S TOP EMPLOYERS

14

COMPANY # OF EMPLOYEES

Ford Motor Co. 42,105

Beaumont Health System 7,391

Trinity Health Michigan 3,970

Dearborn Public Schools 2,028

Henry Ford Health Systems 1,958

U.S. Government 1,855

AAA Michigan 1,826

Plymouth-Canton Community Schools 1,806

U.S. Steel – Great Lakes Works 1.797

Livonia Public Schools 1,604


POPU

LATI

ON

2017 Estimated Population 11,820 44,826 84,8212022 Projected Population 11,526 43,738 82,5132010 Census Population 12,113 46,343 86,7152000 Census Population 12,098 44,339 78,551Projected Annual Growth 2017 to 2022 -0.5% -0.5% -0.5%Historical Annual Growth 2000 to 2017 -0.1% 0.1% 0.5%

HO

USE

HO

LDS 2017 Estimated Households 4,519 16,519 32,4072022 Projected Households 4,512 16,506 32,2992010 Census Households 4,461 16,431 31,9052000 Census Households 4,301 15,345 28,558Projected Annual Growth 2017 to 2022 - - -0.1%Historical Annual Growth 2000 to 2017 0.3% 0.5% 0.8%

RA

CE

2017 Est. White 74.1% 71.6% 70.8%2017 Est. Black 10.1% 10.1% 11.7%2017 Est. Asian or Pacific Islander 12.3% 15.0% 14.3%

2017 Est. American Indian or Alaska Native 0.2% 0.2% 0.2%

2017 Est. Other Races 3.3% 3.1% 3.0%

INC

OM

E 2017 Est. Average Household Income $91,811 $102,969 $103,8362017 Est. Median Household Income $81,647 $93,026 $92,6582017 Est. Per Capita Income $35,122 $37,966 $39,691

BU

SIN

ESS 2017 Est. Total Businesses 623 1,494 2,770

2017 Est. Total Employees 6,456 18,884 32,604

DESCRIPTION 1 MILE 3 MILE 5 MILE

DEMOGRAPHICS


OUR TEAM

16

LOUIS J. CIOTTISENIOR DIRECTORLouis Ciotti is a graduate of Oakland University with a Bachelor of Arts degree in Broadcast Communications and Business. He began hisreal estate brokerage career thereafter at Signature Associates, quickly distinguishing himself as a top producer winning multiple awards.Louis specializes in shopping center leasing and investment sales as well as retail tenant representation accounts. He has developedvaluable expertise in the sale of service station portfolios and bank dispositions, understanding the needs of his institutional clients. Louis hasan aggressive, energetic and friendly style that serves his clients and customers well. At Landmark, Louis has continued expanding on histerritorial expertise and dominance while bolstering his full service approach to retail real estate requirements.

[email protected]

SCOTT SONENBERGASSOCIATEScott Sonenberg is a graduate of Western Michigan University, with a Bachelor of Arts degree in Business Management. Scott spent the lasttwo years working with A.F. Jonna Development where he gained valuable experience in shopping center leasing and site selection fornumerous national, regional, and local retailers. His positive energy and keen eye for deals, combined with a flair for multi-tasking, hashelped Scott complete a large volume of transactions on an annual basis. Now at Landmark, Scott will build on his early success as a salesassociate working on shopping center leasing, retail tenant representation, and investment sales.

[email protected]


Documents

7-Eleven Shopping Center-Canton, MI-OM · 7-Eleven Shopping Center • Canton, MI. TABLE OF CONTENTS 3 Executive Summary 5 Tenant Profile 6 Rent Roll 8 Proforma 9 Location Map 12