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Rob James Phone:212.686.0072 Fax: 212.686.0078 [email protected] w ww.exp1031.com Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN rent of $1.09 PSF in a 151,380 SF building on 10 acres and building is expandable 0.7 miles from the Meritor Commercial Vehicle Systems and Aftermarket Facility which is owned by Meritor Fortune 500 company (NYSE MTOR) with 3.3 Billion in sales in 2017 and BB- S&P credit rating Approximately 4+ years of remaining lease term with 2% annual escalations 18.4 acres of excess land available for an additional$250,000 Vacancy rate of 1.9% with average rents of $2.00 PSF in the Laurinburg Industrial sub-market comprised of 43 bldgs. Excellent historical occupancy by DuPont Pioneer Seed (dupont.com) and WePack (wepack.com) Built in 1986 with 17’ clear ceiling heights on 10 acres with 7 loading docks and another 18.4 acres available This information has been obtained from sources deemed reliable, however EXP RealtyAdvisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

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Page 1: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

Rob JamesPhone:212.686.0072Fax: [email protected] www.exp1031.com

Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF

▪ Low NN rent of $1.09 PSF in a 151,380 SF building on 10 acres and building is expandable

▪ 0.7 miles from the Meritor Commercial Vehicle Systems and Aftermarket Facility which is owned by Meritor

▪ Fortune 500 company (NYSE MTOR) with 3.3 Billion in sales in 2017 and BB- S&P credit rating

▪ Approximately 4+ years of remaining lease term with 2% annual escalations

▪ 18.4 acres of excess land available for an additional$250,000

▪ Vacancy rate of 1.9% with average rents of $2.00 PSF in the Laurinburg Industrial sub-market comprised of 43 bldgs.

▪ Excellent historical occupancy by DuPont Pioneer Seed (dupont.com) and WePack (wepack.com)

▪ Built in 1986 with 17’ clear ceiling heights on 10 acres with 7 loading docks and another 18.4 acres availableThis information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.

It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 2: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Investment Overview

INVESTMENT OVERVIEW: EXP Realty Advisors presents for sale the Meritor Distribution Center located Maxton NC. The property is one of two facilities Meritor operates in Maxton, NC. Located in the Laurinburg-Maxton industrial park, which is situated around the Laurinburg-Maxton municipal airport, this industrial market has a vacancy factor of only 1.9% and has an average industrial rent of $2.00 PSF. The property was leased when there was high vacancy in the market and now the market is tight and market rents are 2x what they are paying. This distribution center has 17 foot clear ceiling heights throughout the building and is paying only $1.09 PSF with 2% annual escalations. The facility serves as the companies distribution center and is only 0.7 miles from the Meritor Commercial Vehicle Systems and Aftermarket Facility which is owned by Meritor(see aerial). The property is approximately 16 miles from Interstate 95, just off NC Highway 74. It is a pre-engineered metal building built on slab with a pitched metal roof. Column spacing is 30'x50’. The metal roof has been well maintained but is not new. The property is a 151,380 square foot warehouse and distribution building located on 10 acres and the building is expandable. There is an additional 18.4 acres behind the building which is available for an additional $250,000. The site is level with approximately 3 acres of parking and an additional 3 acres for expansion. The building is a very well maintained with 7 loading dock doors (all with dock levelers). The building is fully sprinklered. 60,000 square feet are heated and cooled, and the remainder of the space is heated. There is 4,500 sq. ft. of office/conference area.

LOCATION OVERVIEW: Maxton is part of the Robeson and Scotland municipal area with a population of 36,157 as of the 2010 census. The countyseat is Laurinburg which is 6.3 miles from the property. FCC North America, a manufacturer of automotive components recently invested $57million to expand its Laurinburg manufacturing facility bring it’s workforce to 200 people. Meritor is also in the vehicle business.

TENANT: MERITOR https://www.meritor.com a Fortune 500 Company (NYSE: MTOR)Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets.With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company servescommercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., UnitedStates, and is made up of approximately 8,200 diverse employees who apply their knowledge and skills in manufacturing facilities, engineeringcenters, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchangeunder the ticker symbol MTOR.

Commercial Truck & Industrial • Supplies drivetrain systems and components, including axles, drivelines, brakes and suspension systems, formedium- and heavy-duty trucks, off-highway, military, construction, bus and coach, and emergency and other applications in North America, SouthAmerica, Europe and Asia Pacifc. This segment also includes the company’s aftermarket businesses in Asia Pacifc and South America.

Aftermarket & Trailer • Supplies axles, brakes and braking systems, drivelines, suspension parts and other replacement and remanufactured partsto commercial vehicle aftermarket customers in North America and Europe. This segment also supplies a wide variety of undercarriage products.

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 3: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Aerial Showing Warehouse and Excess Land

MERITOR WAREHOUSE

Railroad Friction Products

We Pack Logistics

Charles Craft

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 4: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Investment Overview

Building SF:

No. of Dock High Doors:

No. of Doors with Levelers:

LandAcres:

Column Spacing:

Market:

Year Built:

ZoningType:

Percent Office Space:

Percent Air Conditioned:

No. Of Stories:

WaterAccess:

Clear Height:

Roof Type:

No. Of Buildings:

HVAC:

Freeway Access:

Airport Access:

Ceiling Height:

Drive ThruAccess:

Sprinkler Type:

151,380 SF

7

7

10.00

40

Eastern North Carolina

1986

Industrial

5%

35%

1

Yes

17

Metal Pitched

1

Yes

Yes

No

20

No

Yes

PROPERTY OVERVIEW

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 5: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Investment Overview

Tenants in the surrounding area are:

Meritor, Inc. designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems,

modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle,

transportation, and industrial sectors. It operates through two segments, Commercial Truck & Industrial; and Aftermarket &

Trailer. The Commercial Truck & Industrial segment supplies drivetrain systems and components, including axles, drivelines,

and braking and suspension systems primarily for medium-and heavy-duty trucks, off-highway, military, construction, bus and

coach, fire and emergency, and other applications. This segment also engages in aftermarket business. The Aftermarket &

Trailer segment supplies axles, brakes, drivelines, suspension parts, and other replacement and remanufactured parts to

commercial vehicle aftermarket customers. This segment also offers various undercarriage products and systems for trailer

applications. The company sells its products under the Meritor, Euclid, Trucktechnic, Meritor Green, Mach, and Meritor AllFit

brands primarily to OEMs and its parts marketing operations, and dealers, as well as for other independent distributors and

service garages in the aftermarket industry in North America, South America, Europe, and the Asia Pacific. The company was

formerly known as ArvinMeritor, Inc. and changed its name to Meritor, Inc. in March 2011. Meritor, Inc. was founded in 1921

and is headquartered in Troy, Michigan.

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 6: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Property Photos

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 7: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Area Industrial Facilities Including Two Meritor Facilities

Owned by Meritor

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 8: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Area Industrial Facilities Including Two Meritor Facilities

Owned by Meritor

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 9: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Tenant Financials

Net

500,000 239,000 172,000

Revenue 9/30/2017 9/30/2016 9/30/2015

Total Revenue 3,347,000 3,199,000 3,505,000

Cost of Revenue 2,863,000 2,763,000 3,043,000

Gross Profit 484,000 436,000 462,000

Operating Expenses

Research Development - - -

Selling General and Administrative

271,000 216,000 303,000

Non Recurring 6,000 16,000 31,000

Others - - -

Total Operating Expenses - - -

Operating Income or Loss 207,000 204,000 128,000

Income from Continuing Operations

Total Other Income/Expenses245,000 -1,000 5,000

Earnings Before Interest andTaxes

Interest Expense 119,000 84,000 105,000

Income Before Tax 381,000 155,000 67,000

Income Tax Expense 52,000 -424,000 1,000

Minority Interest 27,000 25,000 25,000

Net Income From Continuing Ops

329,000 579,000 66,000

Non-recurring Events

Discontinued Operations -1,000 -4,000 -1,000

Extraordinary Items - - -

Effect Of Accounting Changes - - -

Other Items - - -

Net Income

Net Income 324,000 573,000 64,000

Preferred Stock And Other Adjustments

- - -

Net Income Applicable To Common Shares

324,000 573,000 64,000

Income StatementAll numbers in thousands

Period Ending 9/30/2017 9/30/2016 9/30/2015

Current Assets

Balance SheetAll numbers in thousands

Cash And Cash Equivalents

88,000 160,000 193,000

Short TermInvestments

- - -

Net Receivables 789,000 396,000 461,000

Inventory 378,000 316,000 338,000

Other Current Assets 43,000 33,000 50,000

Total Current Assets 1,298,000 905,000 1,042,000

Long Term Investments

- - -

Property Plant and Equipment

474,000 439,000 419,000

Goodwill 414,000 390,000 402,000

Intangible Assets - - -

Accumulated Amortization

- - -

Other Assets 596,000 760,000 332,000

Deferred Long Term Asset Charges

- - -

Total Assets 2,782,000 2,494,000 2,195,000

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 10: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Site Plan

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 11: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Site Plan Showing Additional Land #2 ($250,000)

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 12: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Aerial Showing Additional Land

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 13: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

MAXTON WAREHOUSE - Maxton, NC 28364

Location Map

MAXTON WAREHOUSE

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Page 14: Meritor Distribution Center: Price $2,371,428 | NNN Rent ... · Meritor Distribution Center: Price $2,371,428 | NNN Rent: $166,000 | CAP: 7.0% | Rent PSF $1.09 | $15.66 PSF Low NN

Contact Us

EXP Realty Advisors52 Vanderbilt Ave

Suite 2014 New York, NY 10017 www.exp1031.com

Our Team

Robert JamesPresident

Phone: (212) 686-0072E-mail: [email protected]

Dan De Sa’Director of Sales

Phone: (212) 972-3947E-mail: [email protected]

MAXTON WAREHOUSE - Maxton, NC 28364

Demographics

2017 Summary 1 Mile 3 Miles 5 Miles

Population 55 3,199 16,039

Households 24 1,258 5,440

Families 17 846 3,719

Average Household Size 1.00 2.20 2.59

Owner Occupied Housing Units 18 653 2,990

Renter Occupied Housing Units 6 605 2,451

Median Age 39.1 36.9 36.2

Median Household Income $50,000 $21,785 $23,409

Average Household Income $62,536 $36,008 $36,723

2022 Summary 1 Mile 3 Miles 5 Miles

Population 54 3,157 15,763

Households 23 1,236 5,324

Families 16 826 3,625

Average Household Size 1.00 2.21 2.60

Owner Occupied Housing Units 17 631 2,919

Renter Occupied Housing Units 6 605 2,405

Median Age 39.4 38.1 37.4

Median Household Income $56,524 $21,694 $23,841

Average Household Income $71,386 $39,695 $41,097

This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.