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Kevin Huchingson, CRE, CCIM, SIORCEO & President501 372 6161 | [email protected]
Offering Memorandum
109 North Hervey St, Hope, Arkansas
1 Allied Drive Suite 1500
Little Rock, AR 72202 www.colliers.com/arkansas
Mark Bentley, SIORPrincipal 501 372 6161 | [email protected]
2Colliers International | Arkansas109 North Hervey Street
> Property Overview Property Summary ..................................................................... Tenant Abstract .......................................................................... Operating Expense Information ..................................................
> Property Location City View and Demographics .....................................................
> Colliers International Overview Colliers International | AR ........................................................... Brokerage Services .................................................................... Agent Biographies .......................................................................
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Table of Contents
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3Colliers International | Arkansas109 North Hervey Street
PROPERTY ADDRESS> 109 North Hervey, Hope, AR 71801
YEAR BUILT> 2009
BUILDING SIZE> 4,000 SF
PROPERTY TYPE> Retail
PARKING RATIO> 7.5/1,000
TRAFFIC COUNT> Approximately 14,000 vehicles per day on North Hervey and 9,900 vehicles per day on West 3rd Street
Property Summary
OFFERING> Two tenants: - Little Caesars (McCapital Holdings, Inc.) - Financial Service Centers of AR, LLC> 100% occupied> NOI - $41,272
SALE PRICE> $480,000> Cap Rate: 8.60%
Site
4Colliers International | Arkansas109 North Hervey Street
TENANT> CashMax
LEASE RATE> $10.00/SF
SQUARE FEET > 2,500
LEASE TYPE > Triple Net
LEASE EXPIRATION > May 31, 2018
Tenant Abstract
TENANT> Little Caesars
LEASE RATE> $12.00/SF
SQUARE FEET > 1,500
LEASE TYPE > Triple Net
LEASE EXPIRATION > October 31, 2021
Income/Expense ProformaTotal Annual Rental Income: $43,372
Estimated Annual Operating Expenses $7,300
Estimated Annual Operating Expense Reimbursement $5,200
Net Operating Income $41,272
5Colliers International | Arkansas109 North Hervey Street
Site
DEMOGRAPHICS
2016 1 mile 3 mile 5 milePopulation 5,389 11,403 13,233
Total Households 1,964 4,307 5,041
Average Household Income $41,961 $43,489 $44,191
City View and Demographics
554 offices in 66 countries
> US $2.5 billion in annual revenue
> 16,146 professionals and staff
> 1.909 billion* square feet under management
> $111 billion USD in total transaction value
* Square footage includes office, industrial and retail property under management. Residential property is excluded from this total. All statistics are for 2015.
Arkansas**• 2 offices in Little Rock &
Northwest Arkansas• 100 professionals & staff• 18 brokers• 14.7 million square feet under
management• 539 lease & sale transactions• Nearly $200 million total sales• Over $170 million total leases
**Based on 2015 results
Colliers International Arkansas is the largest commercial real estate firm in Arkansas, with 14.7 million square feet of commercial space leased and managed. Our 100 employees are located in Colliers offices in Little Rock and Rogers and strategically located to serve our clients in Arkansas and beyond. We have been shaping Arkansas’ commercial real estate landscape since 1971. Predecessor firms include Barnes, Quinn, Flake & Anderson, IBR Real Estate and Lane Real Estate Services. Members of these firms came together joining the Colliers group in 2004. We are the area leader in providing full-service commercial real estate services.
The foundation of our service is the strength and depth of our specialists. Our clients can depend on our ability to draw on years of direct experience in the local market. Our professionals know their communities inside and out. Whether you are a local firm or a global organization, we can provide creative solutions for all your real estate needs.
CORE SERVICESOur comprehensive portfolio of services includes:
> Brokerage > Landlord Representation > Tenant Representation> Corporate Solutions> Investment Services> Project Management> Real Estate Management Services> Valuation and Advisory Services> Special Asset Services
We offer our core services across a variety of property sectors including:
> Land> Hotel> Industrial> Mixed-use> Office> Retail
In addition to these sectors, we provide our clients with a deep level of knowledge within specialized industries such as call centers, law firms, healthcare and more.
Accelerating success.
LITTLE ROCK1 Allied Dr., Suite 1500Little Rock, AR 722021.501.372.6161colliers.com/arkansas
NORTHWEST ARKANSAS4204 S. Pinnacle Hills Pkwy, Suite 102Rogers, AR 727581.479.636.9000colliers.com/arkansas
AT A GLANCE
COLLIERS INTERNATIONAL | ARKANSAS
ABOUT COLLIERS INTERNATIONALColliers International is a leader in global real estate services, defined by our spirit of enterprise. Our mission and passion is to provide our clients with the best possible real estate solutions, leveraging local flexibility on a global platform. We provide a wealth of knowledge by combining market expertise with top professionals and advanced technological tools.
BROKERAGE A commercial real estate lease or sale is often a landmark event, and an opportunity to further advance your business. We recognize that exceptional results require more than just transactional expertise. To guide our clients through every step, we’ve built an integrated platform of complementary services to achieve your business goals.
LANDLORD LEASING TEAMS:
› Identify competitive advantages and opportunities for improvement.
› Create a specific go-to-market strategy tailored to your business needs.
› Apply best-in-class marketing tools to segmented target groups, generateing strong interest and feedback.
TENANT REPRESENTATION TEAMS:
› Form strategies to meet current and future needs.
› Provide market conditions and trends analysis.
› Identify potential hurdles and top tenant mistakes for minimal disruptions.
SALES TEAMS:
› Deliver valuation, property and project management to optimize your building’s position for sale.
› Provide marketing technology tools to create a competitive bidding environment.
› Advise throughout negotiating process to ensure optimal price.
COLLIERS INTERNATIONAL
Brokerage Services
> Visit colliers.com/brokerage
SERVICES
> Asset Resolution
> Build-to-Suit
> Business Unit Analysis/ Workplace Design
> Construction and Maintenance Supervision
> Dispositions and Subleases
> Employee Surveys
> Facility Relocations and Acquisitions
> In-Depth Location Analysis
> Lease and Operating Cost Audits
> Lease Negotiation and Renewal
> Space Expansion and Consolidation
> Supplier/Employee Mapping
> Sustainable Building Practice/ LEED© certification
> Industry specializations through National Practice Groups
Accelerating success.
Kevin H. Huchingson CCIM,SIOR PRINCIPAL, PRESIDENT & CHIEF EXECUTIVE OFFICER
EDUCATION AND QUALIFICATIONS
Master of Business Administration, University of Arkansas at Little Rock
Bachelor of Science, Business Administration, Centenary College of Louisiana
AFFILIATIONS AND MEMBERSHIPS
Counselor of Real Estate (CRE®)
Certified Commercial Investment Member (CCIM)
Society of Industrial and Office Realtors (SIOR)
International Council of Shopping Centers (ICSC)
CONTACT DETAILS
MOB 501 519 7151 DIR 501 372 6161 FAX 501 372 0671
[email protected] Colliers International 1 Allied Drive Suite 1500 Little Rock, AR 72202 www.colliers.com
AREA OF EXPERTISE As CEO and President of the Arkansas office of Colliers International, Kevin is responsible for oversight of company management and client development and retention. As a broker, Kevin is active in industrial, office and investment brokerage and also handles consulting assignments for individual and corporate clients.
PROFESSIONAL ACCOMPLISHMENTS Past President – Arkansas Chapter,
Certified Commercial Investment Member (CCIM)
Past President – Arkansas Chapter, Society of Industrial & Office Realtors (SIOR)
Co-Founder of CapRocq Core, CapRocq Core 2 and CapRocq Automotive
Member of Colliers “Everest Club” recognizing top 10% of brokers in the U.S.
Third-highest performing Colliers broker in U.S. in 2013
Past President – Little Rock Realtors Association
General Partner of CDFP Capital Management – 2006, LP
Member of the UALR College of Business Advisory Board
Graduate of Leadership Greater Little Rock, Class XI
Member of the Young Presidents’ Organization, Arkansas Chapter
Little Rock Monthly “25 to Watch,” 2003 Arkansas Business “40 Under 40,” 2003 Member of the 2011 Arkansas Business
Power List Past Member - Real Estate Council of the
Federal Reserve Bank of St. Louis
Phyllis has represented the following managed properties
BUSINESS AND EDUCATIONAL BACKGROUND After receiving his MBA in 1993, Kevin joined the brokerage department of Barnes, Quinn, Flake & Anderson, Inc. He became a Principal in 1997 and was elected President and CEO of the firm in 2002. As President and CEO, Kevin has guided the firm through two mergers – first with IBR Real Estate, Inc. in 2003 and later with Lane Real Estate Services, Inc. in 2005. In addition, Kevin led the firm in becoming affiliated with Colliers International in 2004.
COMMUNITY INVOLVEMENT Member of the Board of Trustees of the Baptist Health Foundation; member of Fifty for the Future; former member of the Board of Directors of the CARTI Foundation; former member of the Board of Directors of the Metropolitan YMCA; former member of Dad the Family Shepherd
REPRESENTATIVE ASSIGNMENTS Arkansas Blue Cross & Blue Shield
CapRocq Core Real Estate Fund
Southwest Power Pool
Bank of the Ozarks
McLarty Auto Group
Centennial Bank
USAble Life
Mark A. Bentley SIOR PRINCIPAL AND MANAGING DIRECTOR, CENTRAL ARKANSAS
EDUCATION
Master of Business Administration, University of Texas
Bachelor of Science, Business Administration, University of Arkansas
AFFILIATIONS AND MEMBERSHIPS
Society of Industrial and Office Realtors (SIOR)
CONTACT DETAILS
MOB 501 519 7159 DIR 501 372 6161 FAX 501 372 0671
[email protected] Colliers International 1 Allied Drive Suite 1500 Little Rock, AR 72202 www.colliers.com
AREA OF EXPERTISE Mark Bentley is the Managing Director and the Principal Broker for Colliers International | Arkansas. With that distinction, he is responsible to the Arkansas Real Estate Commission for all transactions of the firm. His brokerage specialties are income property acquisitions and landlord/tenant representation. Mark also has vast experience as a development manager.
PROFESSIONAL ACCOMPLISHMENTS Member – Real Estate Council of the
Federal Reserve Bank of St. Louis Past President – Arkansas Chapter,
Society of Industrial & Office Realtors (SIOR)
Member of various committees of the Little Rock Realtors Association
Member of Everest Club – Top 10% of Colliers brokers in the U.S.
BUSINESS BACKGROUND Mark began his commercial real estate career in 1984 with the Trammell Crow Company where he spent six years as a marketing principal and gained experience in development management. In 1990 he co-founded IBR Real Estate, Inc., which he managed until 2003 when IBR merged into Colliers International | Arkansas and Mark joined Colliers as a Principal. Mark has been involved with commercial real estate sales and leasing brokerage and development management throughout his career.
COMMUNITY INVOLVEMENT Member of the Board of Directors of the Central Arkansas Boys and Girls Club; Member of the Board of Directors of Central Arkansas Radiation Therapy Institute (CARTI); Member of the Board of Trustees and Finance Committee Chair for Lakewood United Methodist Church; former member of the Board of Directors of the Pulaski County Red Cross; former member of the Board of Directors of Lakewood Property Owners Association; former member of the Board of Directors of Junior Achievement of Arkansas
REPRESENTATIVE ASSIGNMENTS USAble Corporation
Delta Dental
Dixie Restaurants
Arkansas Blue Cross & Blue Shield
Dale Capital
McLarty Automotive Group
Friday Law Firm
1 Allied Drive | Suite 1500Little Rock, Arkansas 72202www.colliers.com/arkansas
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2012. All rights reserved.
Kevin Huchingson, CRE, CCIM, SIORCEO & President501 372 6161 | [email protected]
Mark Bentley, SIORPrincipal 501 372 6161 | [email protected]
