Dan Cooper [email protected] (216) 562 1981 x12 … · 2021. 1. 13. · Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 Dan Cooper [email protected]

Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 www.coopergrp.com

Dan Cooper [email protected] (216) 562-1981 x12

Bob Havasi [email protected] (216) 562-1981 x10

http://www.coopergrp.commailto:[email protected]:[email protected]

2

Table of Contents

INVESTMENT SUMMARY

Investment Highlights ……………..… 4

Investment Overview ………………… 5

Location Overview …………………… 6

Offering Summary …………………… 7

FINANCIAL ANALYSIS

Rent Roll …………...…………………. 9

Financial Analysis ..…...…...………… 10

PROPERTY ANALYSIS

Site Plan ..…..…………...……………. 12

Aerial Maps .………………………….. 13-14

Surrounding Area Photos …………… 15

Location Maps .…………………........ 16

Demographics ..…………………........ 17

TENANT ANALYSIS

Tenant Profiles ……….………………. 19-22

Disclosure & Confidentiality ……….... 23

INVESTMENT HIGHLIGHTS

4

Sugarcreek Plaza

• Completely Redeveloped (2017 with Over $3.5 Million in Improvements), 4-Tenant, NNN, Trophy Power Center Centrally Located in the Heart of Major Retail Hub Directly Off Main Highway

• Well-Known, Highly Recognizable Tenants: BuyBuy BABY, Bed Bath & Beyond, Planet Fitness and Affordable Uniforms, All with Recently Executed 10-Year Leases Without Termination Rights, Creating Long-Term Rent Roll Stability

• 100% Occupied: ALL NNN Lease Structures in Strong Suburban Market with 5.6% Vacancy Rate

• Below Market Rental Rates with Comparable Area Rents in the Mid-Teen/S.F. Range, Low $113/S.F. Purchase Price, Far Below Replacement Cost and High Year-1 Expected Cash-on-Cash Return of 13.43%

• Hand-Picked Relocation: Bed Bath and Beyond Relocated to the Property in 2018 & Just Smashed Earnings Forecasts with Reported Best Quarterly Sales in 4 Years!

• Only BuyBuy BABY in Dayton MSA (Next Closest Location is 25+ Miles Away)

• Solid Demographics in High Barrier-to-Entry Market: Densely Populated Area with 122k+ People and Average Household Incomes Over $102k+ Within a 5-Mile Radius

• Surrounded by Complimentary Retailers and Service Providers in One of Dayton’s Most Preferred Retail Markets: Chipotle, Panera Bread, Target, Home Depot, Cabela’s, Kohl’s, Lowes, Walmart Supercenter, Kroger, Costco, Chick-fil-A, Cheddar’s, Cracker Barrel, Burger King, Buffalo Wild Wings, PNC, Holiday Inn Express, McDonalds and Many More

• Newer (2017) Roof with Transferrable 15-Year Warranty

• Highly Visible Pylon and Monument Signage and Ease of Access at Signalized Entrance off Wilmington Pike (33,750 VPD Surrounding the Property) and Direct Highway Access to I-675 with Traffic Counts of 80,375 VPD

• Home to the State of Ohio’s Largest Single Site Employer Wright-Patterson Air Force Base (14 Miles with 25,000 Airmen, Civilian and Contractor Employees)

• Strategic and Convenient Location Directly Across from Miami Valley Hospital South, a Premier Health System (One of Dayton’s Largest Employers with 14,000 Total Employees in the Area) Hospital Constructed in 2007, Which Grew Faster than Expected Becoming a Full Service Hospital with Physician Offices and Five-Story Patient Wing Addition (2009-2013) Now with Over 475 Employees

• Recent Numerous Accolades: Dayton Rated #3 City in the Nation Out of the Top 50 Cities in the United States by HealthGrades for “Excellence in Health Care,” Site Selection Magazine Ranked Dayton the “#1 Medium Sized Metropolitan Area in the U.S. for Economic Development” and According to Bloomberg Businessweek, “Dayton is One of the Best Places in the U.S. for College Graduates to Find a Job”

ADDITIONAL INVESTMENT HIGHLIGHTS

5

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the

69,858 S.F. Sugarcreek Plaza, a 2017 completely redeveloped power center, boasting high-traffic

generating retailers, BuyBuy BABY, Bed Bath & Beyond, Planet Fitness and Affordable Uniforms, all on

newer, long-term 10-year NNN leases. Formerly Sugarcreek Plaza was a single-tenant property and

upon its redevelopment was turned into its current multi-tenant use. The asset is located in the

Centerville suburban market of Dayton, Ohio and been reduced to $7,885,000, representing an attractive

8.00% CAP Rate, low $113/S.F. purchase price far below replacement cost and an expected year-1

cash-on-cash return of 13.43%. All of the tenants recently executed their firm, long-term leases,

creating tremendous rent toll stability. The desire to be at this particular location can be evidenced by

Bed Bath and Beyond’s hand-picked relocation to this site in 2018 from a couple miles west of the

featured asset and subsequent quick lease-up of the balance of the center. BuyBuy BABY is a leader in

the children’s products industry and this location is the only BuyBuy BABY is the entire Dayton MSA

(next closest location is over 25+ miles away), Bed Bath and Beyond compliments with its desirable

product lines and recently reported best quarterly sales in the past 4 years with stock prices up 30%,

Planet Fitness further drives traffic to the center and has experienced explosive company growth (261

new locations in 2019) and rounding off the rent roll, Affordable Uniform’s location is perfect for a

medically dense region. The stores at Sugarcreek Plaza are designed and positioned for success.

The property has multiple points of ingress/egress off Wilmington Pike and Clyo Road with a

signalized entrance and direct access to I-675. Traffic counts of 33,750 surround the property, while

I-675 has 80,375 VPD. The superior location offers ease of management by having only 4 well-known

regional/national tenants and is also positioned as part of a power center adjacent to other

complimentary, high-traffic retailers. Some names include: Chipotle, Sherwin-Williams, CosmoProf,

HotSpring Spa of Dayton, Bright Now! Dental and favorable restaurant outlots, Panera, Burger King,

KFC and Fazoli’s. Just seconds away, Sugarcreek Plaza is also surrounded by other shopping and

restaurants that include: Target, Home Depot, Cabela’s, Kohl’s, Lowes, Walmart Supercenter, Kroger,

Costco, Chick-fil-A, Cheddar’s, Cracker Barrel, Burger King, Buffalo Wild Wings, PNC, Holiday Inn

Express, McDonalds and many more.

The asset is located in a strong residential community with average household incomes over $102,000

within a 5-mile radius. The property has direct access to a large population base being positioned as a

suburb of Dayton (8 miles) with over 430,000 people within 10-miles. The metro trade area offers

best-in-class retailers and steady high volumes of traffic in the corridor, making this asset a

destination point for all the surrounding communities.

Sugarcreek Plaza’s position directly along I-675 is a huge advantage, making it a major regional retail

destination. The area boasts a strong employment base headlined by Wright-Patterson Air Force Base

(14 miles), the largest single-site employer in Ohio with 25,000 military and civilian employees. I-675 is

the direct route to the base and surrounding communities. Additionally, Miami Valley Hospital South is

located directly across from the center and is part of the Premier Health System of hospitals and health

care. Premier Health is the second-largest employer in Dayton with 14,000 total employees in the area.

Having a hospital directly across the street with many healthcare offices nearby, Affordable Uniforms

has a strategic advantage in the market. It is estimated that Premier Health Partners, a hospital network,

contributes more than $2 billion a year to the region through operating, employment, and capital

expenditures. Additionally, Kettering Medical Center is located just 7 miles northwest and is part of the

Kettering Health Network of eight hospitals, affiliate Kettering College, and over 120 outpatient facilities

serving southwest Ohio. With nearly 12,000 employees and 2,100 physicians, Kettering Health offers a

vast employment base with many residing nearby for a short commute to work. Furthermore, The

University of Dayton is only 7.5 miles from the featured asset and boasts over 11,000 students and an

academic staff of over 1,035, along with Wright State University (14 miles) enrolling approximately

13,745 students and faculty/staff of over 2,800. Given the property’s strategic placement in an

unbeatable retail market and proximity to employees and residents; this asset is positioned as a

high-quality investment poised to generate substantial returns for years to come.

INVESTMENT OVERVIEW

6

The featured property is located in Sugarcreek Township/Centerville, a suburb of Dayton, Ohio, just 9 miles south of Downtown Dayton, the sixth largest city in the state. Dayton is the county seat of Montgomery County, the fifth most populous county in the state. Dayton's borders are within 500 miles of roughly 60% of the country's population. Its manufacturing infrastructure makes the Dayton Metropolitan Statistical Area a logistical stronghold for manufacturers/suppliers.

The Dayton region is primarily served by I-75 (8 miles), which runs north to south though the city of Dayton, I-70, a major east-west interstate that runs through many of Dayton's northern suburbs and intersects with I-75 in Vandalia and I-675, which is a partial interstate ring along the eastern suburbs of the city. It runs north to south and connects I-70 to the north and I-75 to the south. Other major routes for the region include: US-35, which is most widely used between Drexel, Ohio and Xenia, Ohio and Route 4, a freeway that is most heavily traveled between I-75 and I-70. The city is also a short 50-mile commute to Cincinnati along I-75. Air transportation is available just north via the Dayton International Airport (27 miles north). The Dayton International Airport is a significant regional air freight hub hosting FedEx Express, UPS Airlines, United States Postal Service, and major commercial freight carriers.

Nearby in Moraine, the area’s largest employer, Fuyao Glass America (7.5 miles), the world's leading manufacturing company specializing in automotive glass opened its 116-acre facility in late 2016 and employs 2,000 people at the facility. Dayton’s employment landscape hosts significant research and development in fields like industrial and aeronautical. Several noteworthy innovations have been designed in Dayton due in part to Wright-Patterson Air Force Base (14 miles) and its place within the community. The Air Force Base is the largest single-site employer in Ohio with 25,000 military and civilian employees. Dayton's businesses have diversified into a service economy that includes insurance and legal sectors as well as healthcare and government sectors. Dayton has been rated the #3 city in the nation out of the top 50 cities in the United States by HealthGrades for “Excellence in Health Care.” Many hospitals in the Dayton area are consistently ranked by Forbes, U.S. News & World Report, and HealthGrades for clinical excellence. The healthcare industry accounts for much of the Dayton area's economy. Hospitals in the Greater Dayton area have an estimated combined employment of nearly 32,000, and a yearly economic impact of $6.8 billion. Miami Valley Hospital South is located directly across from the center and is part of the Premier Health System of hospitals and health care. It is estimated that Premier Health Partners, hospital network contributes more than $2 billion a year to the region through operating, employment, and capital expenditures. Also, Kettering Medical Center is located just 7 miles northwest and is part of the Kettering Health Network of eight hospitals, affiliate of Kettering College, and over 120 outpatient facilities serving southwest Ohio. Patients have access to high quality maternity care, state-of-the-art cancer fighting technology, Ohio’s leading heart hospital, as well as revolutionary medicine for both brain and spine surgery. With nearly 12,000 employees and 2,100 physicians, Kettering Health is committed to transforming the healthcare experience with world class health services for every stage of life.

Many major corporations such as Reynolds and Reynolds, CareSource, Cargill, NewPage Corporation, Huffy Bicycles, LexisNexis, Kettering Health Network, Premier Health Partners, Standard Register, Dayton Reliable Tool and Teradata have their headquarters in Dayton. Recently Site Selection magazine ranked Dayton the “#1 Medium Sized Metropolitan Area in the U.S. for Economic Development” and according to Bloomberg Businessweek, Dayton was one of the best places in the U.S. for college graduates to find a job. Additionally, The Dayton area was ranked the “10th Best Metropolitan Area in the United States for Higher Education” by Forbes. Located nearby, The University of Dayton (10,549+ students), Wright State University (17,775+ students), Kettering College (approx. 1,000 students) and Sinclair Community College, which is the largest on-site community college in the state (10,000+ students) are all located in Dayton.

LOCATION OVERVIEW

7

Reduced Price:

Gross Leasable Area:

Price/SF:

NOI:

CAP Rate:

Complete Redevelopment:

Lot Size:

Foundation:

Exterior:

Roof:

$7,885,000

69,858 S.F.

$112.87

$630,801

8.00%

2017

Approx. 7.481 Acres

Concrete

Block/Metal

2017—15 Yr. Warranty

SUMMARY

Loan Amount:

Down Payment:

Loan Type:

Interest Rate:

Amortization:

Term:

Loan-to-Value (LTV):

$5,913,750

$1,971,250

New Loan

3.60%

25 Years

10 Years

75.00%

Rental Income:

Tenant Reimbursements:

Potential Gross Income:

Vacancy (Actual):

Effective Gross Income:

Expenses:

NOI:

Annual Debt Service:

Structural Reserve ($0.10/S.F.):

Cash Flow After Reserves:

Cash-on-Cash Return:

$639,683

$221,765

$861,448

($0)

$861,448

($230,647)

$630,801

$359,085

$6,986

$264,730

13.43%

Current Operating Data

Anticipated New Financing

9

% of Tenant Lease Lease Rent/ Annual Lease Option

Tenant GLA Total Since Start Expiration S.F. Rent Type Bumps Rate/ S.F.

18,715 26.79% 2018 9/15/2018 1/31/2029 $8.25 $154,399 NNN None

(4) 5-Yr. Option 1: $9.25/SF Option 2: $10.25/SF Option 3: $11.25/SF Option 4: $12.25/SF

28,105 40.23% 2018 9/15/2018 1/31/2029 $8.25 $231,866 NNN None

(4) 5-Yr. Option 1: $9.25/SF Option 2: $10.25/SF Option 3: $11.25/SF Option 4: $12.25/SF

17,038 24.39% 2018 3/31/2018 12/31/2029 $11.00 $187,418 NNN 2023: $12.10/SF (2) 5-Yr.

Option 1: $13.31/SF Option 2: $14.64/SF

6,000 8.59% 2019 7/29/2019 10/31/2029 $11.00 $66,000 NNN 2024: $12.10/SF (1) 5-Yr.

Option 1: $13.31/SF

Total Property 69,858 100.00% $9.16 $639,683

Vacancy - 0.00% $ - $ -

10

Pro Forma 2021

2019 2021 $/SF

INCOME:

Rental Income $ 584,215 $ 639,683 $ 9.16

Tenant Reimbursements:

Real Estate Tax 88,136 94,855 1.36

Insurance 20,771 22,355 0.32

CAM 76,694 87,850 1.26

Management Fee - 8,438 0.12

Admin. Fees - 8,267 0.12

Gross Potential Rental Income $ 769,816 $ 861,448 $ 12.33

Vacancy (Actual) 0.00% - -

Effective Gross Income $ 769,816 $ 861,448 $ 12.33

OPERATING EXPENSES:

Management Fee 4% $ 39,119 $ 25,587 $ 0.37

Real Estate Taxes 94,854 94,855 1.36

Insurance 22,355 22,355 0.32

Landscaping 10,006 12,500 0.18

Snow Removal 35,487 35,000 0.50

Utilities

Electric 5,323 6,000 0.09

Water/Sewer 100 150 0.00

Repairs & Maintenance 3,899 6,000 0.09

Labor 9,000 10,000 0.14

Fire Safety 4,194 4,200 0.06

Parking Lot& PL Lighting Repairs & Maintenance 10,157 7,000 0.10

Sweeping/Cleaning 5,924 6,000 0.09

Roof Repairs & Maintenance - 1,000 0.01

Total Expenses $ 240,418 $ 230,647 $ 3.30

Net Operating Income $ 529,398 $ 630,801 $ 9.03

Loan Analysis

Cash Flow Available Before Debt Service $ 630,801 $ 9.03

Capitalization Rate 8.00% 8.00%

Valuation (Reduced) $ 7,885,000 $ 112.87

Loan to Value 75.00% 75.00%

Loan Amount $ 5,913,750 $ 84.65

Rate 3.60% 3.60%

Term 10 10

Amortization 25 25

Annual Debt Service $ 359,085 $ 5.14

Debt Service Coverage Ratio 1.76 1.76

13

475 Employees

25,000 Employees 12 Miles North

14

475 Employees

17

6140 Wilmington Pike 1 mi radius 3 mi radius 5 mi radius 10 mi radius

Dayton, OH 45459

POPULATION

2020 Estimated Population 5,488 49,910 122,326 431,208

2025 Projected Population 5,592 50,444 122,273 438,419

2010 Census Population 5,326 49,499 123,696 422,579

Projected Annual Growth 2020 to 2025 0.4% 0.2% - 0.3%

2020 Median Age 41.2 44.2 43.4 39.3

HOUSEHOLDS

2020 Estimated Households 2,402 22,551 55,185 185,248

2010 Census Households 2,236 21,351 53,217 174,117

2000 Census Households 2,297 20,233 50,776 165,668

Historical Annual Growth 2000 to 2020 0.2% 0.6% 0.4% 0.6%

RACE AND

ETHNICITY

2020 Estimated White 85.2% 89.5% 88.9% 82.5%

2020 Estimated Black or African American 7.3% 4.3% 3.9% 9.7%

2020 Estimated Asian or Pacific Islander 3.4% 3.0% 3.8% 3.6%

2020 Estimated American Indian or Native Alaskan 0.2% 0.2% 0.2% 0.3%

2020 Estimated Other Races 3.9% 3.0% 3.1% 3.9%

INCOME

2020 Estimated Average Household Income $97,853 $102,213 $102,071 $87,028

2020 Estimated Median Household Income $75,529 $81,088 $79,595 $68,104

2020 Estimated Per Capita Income $42,857 $46,245 $46,109 $37,655

EDUCATION

(AGE 25+)

2020 Estimated High School Graduate 17.5% 17.6% 18.9% 24.0%

2020 Estimated Some College 15.7% 19.6% 21.1% 22.1%

2020 Estimated Associates Degree Only 9.9% 8.7% 9.2% 9.1%

2020 Estimated Bachelors Degree Only 27.4% 28.3% 25.7% 20.8%

2020 Estimated Graduate Degree 25.8% 22.3% 21.4% 16.6%

BUSINESS

2020 Estimated Total Businesses 373 2,102 5,511 19,457

2020 Estimated Total Employees 4,332 27,984 69,411 256,016

2020 Estimated Employee Population per Business 11.6 13.3 12.6 13.2

2020 Estimated Residential Population per Business 14.7 23.7 22.2 22.2

19

BuyBuy BABY, founded in 1996 and operated by parent company,

Bed Bath & Beyond Inc., the store is a leader in the industry that

offers products for prepping a nursery, powering through those first

few weeks of having a baby, and experiencing the thrill of a baby’s

first steps. BuyBuy BABY is ready to help with friendly advice and

the products needed at great prices. Whether talking stroller smarts,

style inspiration or registry tips, the crew always strive to simplify

things and provide the honest low-down, so customers can embrace

parenting confidently and shop worry-free. The parent company

operates 1,500 stores, including 976 Bed Bath & Beyond stores in

the United States and Canada; 261 stores under the names of World

Market, Cost Plus World Market, or Cost Plus; 126 BuyBuy BABY

stores; 81 stores under the Christmas Tree Shops; and 53 stores

under the Harmon or Face Values names. The Company also

operates PersonalizationMall.com, an leading online retailer of

personalized products.

Headquarter:

# of Locations:

Corporate:

Ticker Symbol:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive:

Co-Tenancy:

Other Termination:

Union, NJ

1,500

BuyBuy BABY Inc.

NASDAQ “BBBY”

18,715

2018

09/15/2018

01/31/2029

None

(4) 5-Yr.

Merchandise for Infant/Child

None

None

Tenant Base Rent Schedule

Current:

Option 1:

Option 2:

Option 3:

Option 4:

Tenant Lease Abstract

Annual

$154,398.72

$173,113.75

$191,828.75

$210,543.75

$229,258.75

buybuybaby.com

Pro Rata Share

105% over the immediately

preceding year, excluding

Security, Snow Removal and

Utilities

Pro Rata Share

Pro Rata Share

5% on CAM/INS Expenses

None

Common Area Maintenance:

Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Management Fee:

Monthly

$12,866.56

$14,426.15

$15,985.73

$17,545.31

$19,104.90

PSF

$8.25

$9.25

$10.25

$11.25

$12.25

Tenant Recapture

Source: bedbathandbeyond.com; buybuybaby.com

20

Bed Bath & Beyond Inc. and subsidiaries is an omnichannel retailer

that makes it easy for its customers to feel at home. Since 1971, the

company sells a popular and trendy range of domestics

merchandise, including bed linens and related items, bath items and

towels, kitchen textiles; and home furnishings, such as kitchen and

tabletop items, fine tabletop, basic housewares, general home

furnishings and consumables. It also provides various textile

products, amenities, and other goods to institutional customers in

the hospitality, cruise line, healthcare, and other industries. The

company operates 1,500 stores, including 976 Bed Bath & Beyond

stores in the United States and Canada; 261 stores under the names

of World Market, Cost Plus World Market, or Cost Plus; 126 BuyBuy

BABY stores; 81 stores under the Christmas Tree Shops; and 53

stores under the Harmon or Face Values names. The Company also

operates PersonalizationMall.com, an leading online retailer of

personalized products.

Headquarter:

# of Locations:

Corporate:

Ticker Symbol:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive:

Co-Tenancy:

Other Termination:

Union, NJ

1,500

Bed Bath & Beyond Inc.

NASDAQ “BBBY”

28,105

2018

09/15/2018

01/31/2029

None

(4) 5-Yr.

Linens & Domestic HH Items

None

None


Current:

Option 1:

Option 2:

Option 3:

Option 4:


Annual

$231,866.25

$259,971.25

$288,076.25

$316,181.25

$344,286.25

bedbathandbeyond.com

Pro Rata Share



Security, Snow Removal and

Utilities

Pro Rata Share

Pro Rata Share


None


Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Management Fee:

Monthly

$19,322.19

$21,664.27

$24,006.35

$26,348.44

$28,690.52

PSF

$8.25

$9.25

$10.25

$11.25

$12.25

Tenant Recapture

Source: bedbathandbeyond.com;

21

Planet Fitness provides a high-quality fitness experience at an affordable cost. All Planet Fitness members enjoy unlimited access to their home club and the support of friendly, knowledgeable staff anytime. PF Black Card® members receive additional benefits, including the ability to bring a guest for free and access to any of the 2,000+ PF locations. In 2019, the club reports opening 261 new locations, a 20.2% explosive growth in 2019 revenue and the company see the opportunity to continue that growth well into the future. The company opened in 1993 and now operates across 50 states, in Canada, Latin America and Australia, with more that 14 million members! Planet Fitness members can also take advantage of free fitness training. The facility has a goal to provide a clean, safe, welcoming environment for anyone who walks through our

door, and all the equipment, amenities and support needed.

Headquarter:

# of Total Locations:

# of Franchisee Locations:

Franchise:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive:

Co-Tenancy:

Other Termination:

Hampton, NH

2,000+

49

Personal Guaranty

17,038

2018

03/31/2018

12/31/2029

2023

(2) 5-Yr.

Health & Fitness Center

None

None


Current:

Bump 2023:

Option 1:

Option 2:


Annual

$187,418.00

$206,159.80

$226,775.78

$249,436.32

planetfitness.com

Pro Rata Share



Security, Trash, Snow

Removal and Utilities

Pro Rata Share

Pro Rata Share


Pro Rata Share


Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Management Fee:

Monthly

$15,618.16

$17,179.98

$18,897.98

$20,786.36

PSF

$11.00

$12.10

$13.31

$14.64

Tenant Recapture

Source: planetfitness.com;

22

Founded in 1995, Affordable Uniforms has been providing the largest selection of nursing scrubs, nursing shoes, and medical equipment and accessories at the lowest everyday prices. The company wants to give customers more for the money with affordable medical uniforms and the highest quality scrubs, offering name brands like Cherokee, Landau, Barco, Koi, and many more for the lowest prices anywhere. Affordable Uniforms welcome both individual and group orders of any size and offer more services to groups and schools to make getting your students and staff prepared easy and hassle free. Affordable Uniforms can supply uniforms for nursing schools, doctors offices, nursing hospitals, and hospitals. Today there are seven retail locations, along with

the on-site sales division, all located in the state of Ohio.

Headquarter:

# of Total Locations:

Franchise:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive:

Co-Tenancy:

Other Termination:

Garfield Heights, OH

7

Personal Guaranty

6,000

2019

07/29/2019

10/31/2029

2024

(1) 5-Yr.

None

None

None


Current:

Bump 2024:

Option 1:


Annual

$66,000.00

$72,600.00

$79,860.00

affuniforms.com

Pro Rata Share



Security, Trash, Snow

Removal and Utilities

Pro Rata Share

Pro Rata Share


Pro Rata Share


Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Management Fee:

Monthly

$5,500.00

$6,050.00

$6,655.00

PSF

$11.00

$12.10

$13.31

Tenant Recapture

Source: affuniforms.com;

23

DISCLOSURE, CONFIDENTIALITY & DISCLAIMER

CONFIDENTIALITY AGREEMENT DISCLOSURE & DISCLAIMER

The information within this Offering Memorandum will set forth an

understanding regarding the relationship between the Recipient of

this package (the “Recipient”) and The Cooper Group and the

confidentiality of the investment information to be supplied to you

and your organization for use in considering, evaluating and/or

purchasing this property (the “Property”). The recipient

acknowledges that all financial, contractual, marketing, and

informational materials including but not limited to lease information,

occupancy information, financial information, projections, data

information and any other similar information provided by The

Cooper Group which relates to the Property (collectively, the

Confidential Information), whether said information was transmitted

orally, in print, in writing or by electronic media is confidential in

nature and is not to be copied or disseminated to any party without

the prior consent of The Cooper Group. The Recipient

acknowledges and agrees that the Confidential Information is of

such a confidential nature that severe monetary damage could result

from dissemination of that information to unauthorized individuals.

The Recipient shall limit access to the Confidential Information to

those individuals in the Recipient’s organization with a “need to

know” and shall take all precautions reasonably necessary to

protect the confidentiality of the Confidential Information. The

Recipient acknowledges and agrees that the Confidential

Information and any copies thereof are the property of The Cooper

Group and that all such information will be returned to The Cooper

Group upon written request. Any offers or inquiries from Recipient

in connection with this investment proposal shall be forwarded,

confidentiality, to The Cooper Group. Other than The Cooper

Group, recipient agrees that neither Recipient nor The Cooper

Group shall be obligated to pay any procuring broker fees in

connection with this investment unless a separate written Brokerage

Agreement is entered into and written acknowledgement of any

procuring Brokerage Agreement is received from all parties to the

investment transaction. Procuring brokers must provide written

introductions of potential investors and receive written

acknowledgment from The Cooper Group for representation to be

recognized. This is a confidential Memorandum intended solely for

your limited use and benefit in determining whether you desire to

express further interest in the acquisition of the Property.

The Memorandum contains selected information pertaining to the

property and does not purport to be a representation of the state of

affairs of the Property or the owner of the Property, to be all-inclusive or

to contain all or part of the information which perspective Recipients

may require to evaluate the purchase of real property. All financial

projections and information are provided for general reference purposes

only and are based on assumptions relating to the general economy,

market conditions, competition and other factors beyond the control of

the owner or The Cooper Group. All references disclosed herein related

to acreage, square footages and/or other measurements may be

approximations and the best information available. The summaries of

information included herein do not purport to be complete nor

necessarily accurate descriptions of the full agreements referenced.

Photos herein are the Property and respective owners and use of these

images without the express written consent of the owner is prohibited.

The owner and the Cooper Group expressly reserve the right, at its sole

discretion, to reject any or all expressions of interest or offers to

purchase the Property, and/or terminate discussions with any entity and

any time with or without notice which may arise as a result of review of

this Memorandum.

Neither the owner or the Cooper Group, nor any of their respective

directors, officers, affiliates or representatives make any representation

or warranty, expressed or implied , as to the accuracy or completeness

of this Memorandum or its contents; and you are to rely solely on your

investigators and inspections of the property in evaluating a possible

purchase of the Property. The information contained in this document

has been obtained from sources to be reliable. While the Cooper Group

does not doubt its accuracy, the Cooper Group has not verified it and

makes no guarantee, warranty or representation about it. It is your

responsibility to independently confirm the accuracy and completeness.

Any projections, opinions, assumptions or estimates used are for

example only and do not represent the current or future performance of

the Property. The value of this transaction to you depends on tax and

other factors which should be evaluated by your tax, financial and legal

advisors.

Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 www.coopergrp.com

Dan Cooper [email protected] (216) 562-1981 x12

Bob Havasi [email protected] (216) 562-1981 x10
http://www.coopergrp.commailto:[email protected]:[email protected]

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Dan Cooper [email protected] (216) 562 1981 x12 … · 2021. 1. 13. · Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 Dan Cooper [email protected]